Seasonality

a groundbreaking look at trading the markets with one of the most
important forecasting tools available . . .

"If you've ever wondered about the validity of seasonals or how to
trade them, buy this book now!" --Glen Larson, Genesis Data
Services

"Jake does it again. This time his extensive research really leaps
out as he makes seasonal trading easy to understand and a very
useful tool for any commodity trader." --Jeffrey H. Fox, Fox
Investments.

Is there a "holy grail" of price prediction? Traders have long been
in pursuit of one, and while a handful of strategies, techniques,
and methodologies have proven noteworthy, the search continues for
the ultimate forecasting instrument --if one does indeed exist. The
theory and methods of seasonality may well prove to be a step in
the right direction to this goal. In this unique new book, a
leading seasonal trading analyst examines seasonality in-depth,
elucidating the concise principles, numerous advantages, and
enormous potential that make it one of the most important --and
effective --methods currently available for targeting futures price
trends.

Over the years, considerable attention has been paid to the effects
of interest rates, money supply, earnings, inflation, and other key
factors on stock and commodity prices. Yet, the immense impact of
seasonal price tendencies has been either grossly underestimated or
completely ignored. Often overlooked, but equally significant,
seasonality is based on the assumption that seasonal influences
cause biases in the movement of market prices. Among its many
advantages, seasonality allows the trader to formulate objective
decisions founded on a logical, verifiable, and operational
methodology, creating a backdrop of probable market trends in most
time frames and in most markets, and providing historically valid
input for use as an adjunct to other analytical methods and timing
indicators. The essence of seasonality is found in its lengthy
history and statistically testable methodologies.

However, seasonal correlations are not 100 percent foolproof. Using
seasonal data to time the market involves an unavoidable degree of
subjectivity --unless you have a firm grasp of seasonal timing
concepts and techniques. Now, in the first resource devoted
exclusively to the subject, Jake Bernstein gives you the foundation
necessary to implement this powerful tool effectively and with
confidence.

Balancing theory and practice, Bernstein provides a thorough,
real-world understanding of seasonal timing concepts and
techniques. Along with results of his own extensive research, he
integrates the work of numerous market analysts, such as W. D.
Gann, Art Merrill, Burton Pugh, Samuel Benner, and Yale Hirsch,
among others, to create a pragmatic and highly functional
analytical framework. With his accessible, comprehensive coverage
of significant concepts such as seasonal spread relationships, key
dates, and cash tendencies, you'll be able to discern seasonal
patterns in monthly and daily cash and futures data. Once the
basics are firmly in place, Bernstein leads you step by step
through the essential process of formulating a seasonal trading
program that incorporates important timing strategies and risk
management tools.

An ideal overview for any trader, investor, or analyst, this
lucidly written and clearly organized resource emphasizes the
validity and significance of seasonality. Jake Bernstein has
compiled a comprehensive guide to the effective use of seasonal
concepts and methods in the futures markets. This is a major work
that belongs on the shelves of all serious traders.