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Langtext Tap into feedback loops to unravel market trends and discover profitable trading opportunities
The Janus Factor presents an innovative theory that describes how feedback loops determine market behavior. The book clearly shows how the theory can be applied to make trading more profitable. The metaphor of the two-faced god Janus is used to reflect alternating market environments, one dominated by trend followers and the other by contrarian bargain hunters.
In this book, author Gary Anderson puts forth a systematic view of how positive and negative feedback drive capital flows in the stock market and how those flows tend to favor either sector leaders or sector laggards at different times. * Discusses how to find better performing stocks * Outlines when and how to use momentum strategies for big profits * Addresses when and how to use contrarian strategies * Gary Anderson is the winner of the 2003 Charles H. Dow Award, presented by the Market Technicians Association
Intellectually challenging and highly practical, The Janus Factor offers insight into market behavior and new methods for capturing stock market trends.
Aus dem Inhalt The Janus Factor vii
Introduction xiii
Acknowledgments xv
CHAPTER 1 Foundations 1
Serendipity 2
The Data Set 5
Reasons and Causes 6
Befuddled 7
Which Way Is Up? 9
CHAPTER 2 The Assignment 13
Measuring Risk: Offense and Defense 14
Picturing Offense and Defense 17
The Benchmark Equivalence Line (BEL) 19
The Trend of Relative Performance 22
CHAPTER 3 Feedback and Capital Flow 27
Feedback 28
Feedback and Capital Flow 31
Calculating Relative Strength 37
The Relative Strength Spread 39
Trend Followers and Contrarians 41
CHAPTER 4 The Janus Factor 45
Structure and Entropy 46
Confidence 47
Is the Market Predictable? 48
Balancing Acts and Paradigm Shifts 54
CHAPTER 5 Seasons of Success 57
The Venturi Effect 58
The Relative Strength Spread and the Performance Spread 61
