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“I found Investing with Volume Analysis of great interest. Any new study of volume and its great technical importance demands immediate attention. It is good to have Buff’s new ideas and discoveries added to the history and importance of volume in technical analysis. My sincere thanks to Buff for his great work and contribution.”
—Joseph E. Granville, The Granville Market Letter
“The author has gathered in one place all the major methods and theories that deal with volume in the stock market and has recognized volume as an equal partner with price in the workings of market and stock movements. He puts it all together into usable and readable guidance, using effective analogies and occasional humor.”
—Richard W. Arms, Jr., Arms Advisory
“Buff presents a thorough discussion of the utility of volume and volume-based market indicators, both traditional and of his own creation. Fellow market analysts can be glad for this resource and the fact that the VPCI on Buff himself is in a strongly rising trend.”
—Robert Prechter and Dave Allman, Elliott Wave International
“I really enjoyed and appreciated the author’s ability to combine volume with many of the basic indicators used by technicians today.”
—Ralph J. Acampora, CMT, Managing Director, Altaira Investment Solutions
“I trade for a living and don’t have time for fluff and puff. Buff tossed facts and figures in my face like a silver cross in front of a vampire. He is on to much here, as you will see. This book is not a morsel; it’s a nine-course meal. Dig in.”
—Larry Williams, Private Trader, World Cup Trading Champion
“For every stock trade that takes place, three key pieces of information are recorded: price, time, and size. It is from these three pieces of data that we derive all the key information that technical analysts use to examine a stock’s behavior. If you are only looking at prices, then you are throwing out a whole lot of key information.
Buff’s book teaches you how to take that information about the size of trades and turn it into the seven types of volume indicators. Better still, he teaches you how to use those tools to improve your own trading.”
—Tom McClellan, Editor, The McClellan Market Report
If price is the market’s testimony, then volume is the market’s polygraph. More than any other indicator, volume tells you the real force and extent of investors’ convictions about prices. By analyzing the market’s volume-oriented “lie detector tests,” you can uncover trends sooner with more reliability–and thus be better positioned to capture the profits those trends might deliver.
In Investing with Volume Analysis, award-winning technical analyst Buff Dormeier reveals how volume validates, interprets, and leads price. Using volume analysis, you’ll learn to uncover surprising shifts in investor enthusiasm, identify disparities in market opinion, and sniff out coming trend reversals.
Dormeier reviews many traditional volume indicators, introduces his own groundbreaking approaches, and shows you exactly how to apply them. You’ll learn how to assess strength and weakness in both supply and demand; identify common market narratives buried beneath volume data; integrate volume analysis with other portfolio allocation techniques; and much more.
Volume analysis speaks volumes. Read this book and discover what the market has been telling you if only you had turned on the volume!
Volume: what it says that you can’t learn any other way
Uncover the market’s true convictions about present prices
Apply the classical laws of motion in securities analysis
Achieve more profitable trading strategies
Is market movement accelerating– or is it about to halt and reverse?
Use volume analysis to evaluate the “state of the trend”
Go beyond standard volume analysis by discovering new breakthrough techniques
Buff up your market analysis with Capital Weighted Volume and overcome volume distortions while improving visibility
Chapter 1: Two Perspectives of Market Analysis 5
Chapter 2: The History of Technical Analysis 12
Chapter 3: Price Analysis 27
Chapter 4: Volume Analysis 32
Chapter 5: Volume: The Force of the Market 39
Chapter 6: How to Read the Market Like a Book 53
Chapter 7: Volume in Trends 73
Chapter 8: Volume in Patterns 93
Chapter 9: Measuring Volume Information 112
Chapter 10: Pure Volume Indicators 118
Chapter 11: Interday Volume Accumulation Indicators 127
Chapter 12: Intraday Volume Accumulation Oscillators 132
Chapter 13: Price Range Volume Indicators 140
Chapter 14: Price Accumulation Based on Volume Indicators 147
Chapter 15: Tick-Based Volume Indicators 151
Chapter 16: Volume-Weighted Price Indicators 157
Chapter 17: The Volume Price Confirmation Indicator 182
Chapter 18: A Compendium of Breadth Indicators 209
Chapter 19: Buff Up Your Volume: Introducing Capital Weighted Volume 226
Chapter 20: Risky Business 241
Chapter 21 Putting It All Together: Volume-Dictated Strategies 259
Chapter 22: Modern Day Volume Issues 281
Posted May 24, 2011
I just finished reading a new book authored by Buff Dormeier, CMT titled Investing With Volume Analysis. I found it was filled with great knowledge, indicators, and investment techniques that utilize volume analysis. Many analysts focus on price alone and forget the valuable information that volume conveys. Buff has put volume back in its rightful place next to price as one of the most valuable metrics an analyst can study.
The book begins with a broad overview of fundamental versus technical analysis. Some background is given on TA, such a Dow Theory and a bit of general history. Buff then sets the stage for volume analysis by reviewing some of the broad studies and some general rules for how to interpret volume.
A review of volume in the context of traditional price patterns a la Edwards and Magee is very helpful for a focused review.
Following this broad review, the book begins to focus on the detail not found elsewhere. Volume indicators are broken down into logical groups. The indicators are then compared apples to apples according to their strengths and weaknesses. This section contains some of the gold within this book. It is clear and well defined and one soon finds it easy to agree with Buff's argument that there is value in a new area of study: volume-weighted price indicators.
Buff goes on to describe the formulas for many custom indicators, including Volume Weighted Moving Averages, Volume Weighted MACD, The Trend Thrust Indicator (TTI), Volume-Price Confirmation Indicator (VPCI), CAP-Weighted Volume, and the Anti-Volume Stop Loss.
Finally, Buff gives an overview of how one could picks stocks using a Market Positioning System. Modern day volume issues including high frequency trading is also covered.
Overall, I found Buff's Investing With Volume Analysis to be extremely helpful in focusing on an underutilized tool - Volume. The book is well written and provides great context and backtested studies to prove the worth of his concepts and ideas. My only criticism of the book is that some of the charts need to be enlarged. Overall, I would recommend this book to anyone serious about the investing in the market. In addition, All CMTs would benefit greatly from this book. - Kyle Crystal
Posted February 9, 2012
No text was provided for this review.