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BK001 Trades About to Happen
Hard cover, 224 pages
David Weis (Author)

David Weis is a trader with over 40 years’ experience who played a large role in the development of many serious traders.  Expanding on classical works of Richard Wyckoff, written almost a century ago, David has built a modern superstructure of market analysis.  The changing heights of price bars, accompanied by rising or falling bars of volume are the basic irreducible elements from which David builds his market analysis.  He uses these patterns to read the behavior of crowds across all markets and timeframes – and then to place his orders.

A careful reading of this book will open your eyes to the huge importance of false breakouts – what David calls springs (when they point down) and upthrusts (when they point up).  He promises: “once you become attuned to the behavior of a spring and upthrust your eyes will be opened to an action signal that works in all time periods.  The spring can provide the impetus for a short-term pop playable by day-traders or serve as the catalyst for long-term capital gains.”

The chapter on absorption will teach you to gauge the strength of the current trend.  Is that trend moving forward like “the Greek phalanx marching in step across the Plain of Troy” as David puts it – or is its advance being absorbed by growing supply, which precedes a reversal?  Now, as your eyes move across David’s charts, you’ll see how their price and volume patterns reveal their secret weaknesses or strengths.

Do not rush as you read this book.  To fully benefit from it you need to let its many messages sink in.  Be sure to apply David’s concepts to current charts, watch them open up to you and become more meaningful before returning to the book and studying another dozen pages.  This isn’t a quickie book – it took David years to write, and the more attention you give it, the deeper will be your benefit.

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