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Readers reviews of FLOAT ANALYSIS

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It takes a lot of work and special insights to come up with a new indicator in today's market. Float analysis meets these conditions. Starting from a few references found in Gann’s work, Woods has extended them into a system of three trading indicators that add a new dimensions to market analysis. His intention is to measure the impact of cumulative float turnover and its relationship with price breakouts from consolidation and accumulation patterns.


It starts with a common sense idea that when the total number of shareholders change then the new share holders bring different expectations to market activity. This can lead to powerful changes in the direction of the trend.


The explanation of the indicators and theoretical process behind them is clear and well illustrated by step by step explanations using clear charts. From the initial discovery, Woods details a further 10 lessons, or conclusions. There are 10 examples of each collected at the end of the book.


With any new indicator there is a tendency to show how it fits all conditions, rather than to admit that it does not easily fit some trading conditions. The bulk of his analysis makes clear and common sense, but there are some applications which are a little more doubtful. I feel they stretch and squeeze market activity to fit the indicator. This does not detract from the usefulness of the initial work on defining bottoms and tops, and the way turnover analysis is a useful method of understanding price extension activity.


The book is well written and clearly explained. Float analysis clearly has a place in trading and technical analysis and this is the book that leads the way. This is a good idea, well explained. It is particularly relevant to understanding the way the float concept is used in the construction of GCIS indexes.

 

 

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