Aligning Trading Ideas with Markets
The Secret Science of Price and Volume
by Timothy Ord
Hardcover: 193 pages
Publisher: Wiley (March 3, 2008)
ISBN-10: 047013898X
ISBN-13: 978-0470138984
Rating – 5 stars

Timothy Ord recommends a top-down approach to market analysis.

The author, president, editor, and publisher of The Ord Oracle an electronic advisory newsletter that recommends S&P, NASDAQ, and gold stock trades, argues that every trade begins with:

1. Determining the market direction.
2. Selecting the best sectors.
3. Isolating the strongest stocks in the best sectors.

There is nothing there that justifies this book's price. What follows, however, is rare insight focusing on the role of volume. Following it focuses the trader's attention on what the market is saying.

Ord illustrates his points with recent charts. He describes the trade set up and resolution in language that is clear and simple. The result is a truly useful market approach.

By the time I finished the book my head was red from slaps as I thought "Why didn't I think of that?" Many of the insights are easy to implement. Yet, the one I find is the most useful, is one of the first lessons I was taught.

"Have patience; wait for the trade to be aligned with the market." I hear it. I know it. I know it to be true. Every time I ignore it, I usually lose money.

This book is worth every penny. Its lessons promise to shorten your learning curve on your way to becoming a trader provided you conquer the practice of patience.

Penned by the Pointed Pundit
April 27, 2008
4:01:07 PM ( )