Readers reviews of The
Stock Traders Almanac 2004
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This is simply a must-have book for any
serious trader. The market is full of coincidental and correlated relationships.
Understanding the difference provides an important trading edge. Hirsch brings together a
thorough statistical analysis of these correlated relationships. The authors do this in an
interesting and entertaining fashion that does not detract from the utility of the book.
repeated statistical relationships are well known enough to have crept into the popular
press. The January effect where the market rises is now a market clich? Unfortunately,
closer analysis of this impact reveals some significant variations to the commonly
accepted myth. These differences include the starting time of this January effect, and the
way this effect ends, sometimes quite dramatically. Hirsch gives you the exact dates and
January has a much more
significant impact than that covered in the popular press. Traders who are aware of this
use the extra knowledge to their advantage in planning long term trading and investment
strategies. The book offers no solutions, but by capturing the key relationships, the
enduring correlations, and interesting repeated behaviour, the book provides a deep and
rich resource of usable market information.
The book deals only
with the US markets, but this does not make it irrelevant to other markets. Increasing
global interdependence means that what happens in New York is mirrored in Australia, Hong
Kong and London. Hirsch does not explore these relationships, but astute trades use this
information. This book should sit beside every traders, and investors, trading screen.
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