Dow Theory for the 21st Century: Technical Indicators for Improving Your Investment Results
Dow Theorist Jack Schannep introduces a new generation of investors to Charles Dow's theory for stock market success. Dow Theory for the 21st Century includes everything that the serious investor needs to know about the stock market and how to become financially successful. Expanding upon Charles Dow's twentieth-century stock market theory, author Jack Schannep provides readers with a better understanding of the ingredients that make up the world of finance, specifically the American stock market, in order to help them achieve investment success. Topics covered within these pages range from the historical background of Charles Dow to the technical application of the Dow Theory to a discussion of other important market trend indicators. The book also introduces the author's own "Schannep Timing Indicator.". Jack Schannep (Tucson, AZ) is the author and editor of the Schannep Timing Indicator and TheDowTheory.com Newsletter and a recognized Dow theorist. Prior to writing his market letter, Schannep was a stockbroker with Dean Witter in Phoenix. He opened and managed the Dean Witter Tucson offices from 1968 until retiring as senior vice president in charge of southern Arizona offices in 1984.
Old wisdom is the best wisdom
By W. H. Bassetti "bassetti" - September 27, 2008
By way of complete disclosure I must say that I use Jack Schannep's work in my own work. Some years ago when I was looking to update the Dow Theory performance record I went to a famous Dow Theory analyst looking for DT signals for the second half of the century. He didn't have a record. I was completely astounded. Then I found Jack Schannep and not only found a Dow Theorist of uncommon excellence (and the Dow Theory performance record) but also an old fox market analyst. His book is full of valuable observations and conclusions from a lifetime of sailing the market seas. Readers are advised that his book is valuable whether they have any interest in Dow Theory or not. More importantly, books on technical analysis are divided into two groups, those which display hard won wisdom and those which demonstrate technical virtuosity. Both of these characteristics shine in Schannep's book. W.H.C. Bassetti Malcom S.M. Watts III Adjunct Professor Finance and... read more
Seasoned advice, surprisingly accessible
By Larry R. Johnson - July 24, 2008
Jack Schannep's Dow Theory for the 21st Century was recommended to me by a seasoned, serious investor who has for a long time followed the research and advice of the author. My initial reluctance to purchase the book was based on the fact I am not a seasoned investor and assumed I would not be able to fully grasp the information. Schannep has produced a book for serious, long term investing that is surprisingly accessible even to those fairly new to investing, and perhaps unfamiliar with Dow Theory. The research is extensive, to the point and backed up with documentation and history. This is not a book for those wishing to day trade their way to wealth overnight; it is however a valuable resource for those looking to maximize long term returns.
An Instant Classic
By Robert L. Sogge "RobArchSpan" - July 28, 2008
This book is written by an old broker who saw the cycles that elapsed during his many years of practice - only he early on recorded the parameters significant to the ebb and flow of these cycles. The author's years of experience are evident. In his lifetime alone, many cycles have occurred. He opens up our eyes to the fact that the market can be timed using various parameters.
He explains how the market cycles are as natural as the tide and how there is no need to sit in stocks during low tide. In so doing the book lays the foundation for the timing so critical for trend following. The period of these waves and thus the trading frequency correspond to the bull and bear market cycles. So trading, therefore, is not like following daily or weekly chart cycles with the chance of being whipsawed to the wrong side of it.
Though he talks about being in cash during the down cycle, it would be profitable to short the cycle using ETF's like SDS, DXD, and QID. Good... read more