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| 1. Jesse Livermores Secret To Success
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| 2. Home page investor image explanation
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| 6. How to win in the stock market
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| 7. Commandments to follow
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| 8. 10 Rules for Investing
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| 9. How to survive a stock market crash
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| 10. William J ONeil, CANSLIM
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| 11. Barry Ritholtz keep it simple stupid
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| 12. Gerald Loeb how to win
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| 18. Indicators Introduction
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| 20. Richard Wyckoff method
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| 21. Richard Wyckoff Waves of Price and Volume
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| 22. Richard Wyckoff is a success story
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| 23. Richard Wyckoff logic not working, this maybe why?
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| 24. Richard Wyckoff studied Jesse Livermore
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| 25. Bob Evans, renowned Wyckoff teacher
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| 26. Tim Ord, Secret Science of Price and Volume
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| 28. William Gann life story
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| 29. William Gann Law of Vibration
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| 31. Wyckoff method improved1
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| 32. Wyckoff method improved2
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| 33. Original Wyckoff and Wyckoff 2.0
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| 34. Wyckoff 2.0 vs Others
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| 35. Wyckoff 2.0 and Volume Spread Analysis
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| 40. Cycles for short term speculation
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| 46. RTT Wyckoff Short Term model
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| 49. Proprietary Indicators (PI)
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| 50. Multi Time Frame (PI)
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| 53. PI: RTT TrendPower OBV
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| 54. PI: RTT On Balance Volume
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| 56. PI: RTT Rainbow Bands
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| 59. PI: RTT Steps of Cause and Effect
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| 60. PI: RTT Wyckoff Strength Weakness
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| 61. PI: RTT Wyckoff Price Waves
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| 62. PI: Proprietary Indicators Caution
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Indicator Library
Richard Ney method
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Richard Ney (1916 - 2004) the "Father of the Specialist Theory".
For the reader a specialists is limited to: insider, market maker, and of course the Specialist. Where as the Richard Wyckoff 'composite man' is much wider definition to include instiutions, pensions and other massive accounts.
Richard Ney was an actor, financier, economics major from Columbia, writer of the very successful investment letter 'The Ney Report', and author of best-selling book 'The Wall Street Jungle'. This book was New York Times best seller for 11 months, however the 'Times' would not review it, and the Wall Street Journal refused to take ads from book stores who tried to sell it because it revealed Wall street secret. He is considered to be the “Father of the Specialist Theory”, and was an extremely successful investor, money manager, investment advisor, and self-made millionaire. He was also the foremost authority on the manipulation of stock prices by Specialists and insiders on the floor of the New York Stock Exchange. From 1961 he guided investors to Stock Market profits as both a money manager and investment advisor. Mr Ney gained national attention in 1962 when a Time magazine cover story singled him out as having called the 1962 Stock Market crash, post 1962 he had successfully called virtually every major turn in the market including the crash of 1987.
Mr Ney had an insightful view of what he called stock "merchandising operations" by individual stock. He watched traders play around with new highs and round numbers, watching the volume moves in a few key stocks of the leading index, try to detect specialist buying, selling, short selling and short covering.
Mr Ney continually pointed out prices are normally moved on low to average volume, reaching price extremes on high volume. He presented his evidence that at panic lows the specialists were buying strongly while the public sells. He then would follow the progression as the prices were moved up on lower to average volume to an emotional big move trigger point where high volume was once again used for those insiders to first sell the stock they had purchased, and then sell much more stock short into that topping volume. The prices would then be dropped again on low to average volume to where the short sales could be profitably covered and long positions re-established. The specialists (composite man) used the emotional greed and fear (with the media) generated by price action to move their merchandise (stock float) in a profitable fashion. Again and again he pointed out where large price moves created volume - not the other way around.
Richard Ney repeatedly used this quote:
..” The story is told that after he had been deported to Italy, Lucky Luciano granted an interview in which he described a visit to the floor of the New York Stock Exchange. When the operations of floor specialists had been explained to him, he said, 'A terrible thing happened. I realized I'd joined the wrong mob”….
The point being the specialist exists not to ensure the free and orderly trade of stock in a particular company, but to fatten himself up upon the innocence and ignorance of the small investor.
[Review the market manipulations during the 1929 stock market crash with Wayne Jett here]
The specialist strategy is to buy at wholesale prices and to sell at retail. Their goal is to accumulate stock float at lower prices (wholesale) and then to raise the price of the stock with his stock float inventory intact to latter distribute at higher prices (retail), there you have it a simple merchandising process! Of course in practice, though, they may have to sell shares on the way up to meet public demand. This will cause them, then, to lower the price in some form to re-accumulate their inventory before they can proceed to higher prices (Wyckoff ‘Stepping stone’ of ‘Cause and Effect’).
Mr Ney’s point was that the only way to profit in any market consistently was to piggy back on the activities of the all-powerful specialists. Detecting their actions (Buying, Selling, Short Covering [buying], Short Selling [selling]) with price and volume patterns to trade with the specialists.
readtheticker.com has the tools for the Ney Angles
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The book below by Richard Ney explains his method of studing price, volume, price levels and price angles.
.."The foremost authority on the manipulation of stock prices by specialists and market makers on the floor of the New York Stock Exchange. Very good insight into how the specialists use the market as a typical merchandise system, just like your local retail shop"...
Chart example from within the book - Ney Angles
Richard Ney Books:
The Wall Street Jungle (1970)
The Wall Street Gang (1974)
Making It in the Market: Richard Ney's Low-Risk System for Stock Market Investors (1975)
RTT Comments: Learn as much as you can about ‘Richard Ney’ methods (within the 'RTT Plus' service we have a detailed break down). Ney logic is a mirror of Wyckoff Logic. Richard Ney writings explain the merchandising methods of the composite man extremely well. This is tape reading in its purest form, completely in line with Richard Wyckoff and Jesse Livermore trading methods. Interesting is the fact that Richard Ney using price angles in a manner that is similar to Gann Angles. The above book is well worth the price. More information can be found on the document website named Scribd.com.
More here:
Below a rare video by Richard Ney, today the specialists have moved behind a computer screen.
More information with investing with Richard Ney logic
Here is what works in the markets.
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
.."Keep the number of stocks you own to a controllable number. It is hard to herd cats, and it is hard to track many securities. Take your losses quickly and do not brood about them. Try to learn from them but mistakes are as inevitable as death."..
Jesse Livermore
.."it is better to have few stocks and to watch them carefully”...
Bernard Burach
.."Just because you’re taught that something’s right and everyone believes it’s right, it don’t make it right."..
Mark Twain
..."Politicians and diapers must be changed often, and for the same reason."..
Mark Twain
.."So you think money is the root of all evil? Have you ever asked what is the root of money? Money is a tool of exchange, which can't exist unless there are goods produced and men are able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value(...) Money is made possible only by the men who produce. Is this what you consider evil?"..
Ayn Rand
Created on: 8/15/2016 10:16:00 PM Last Update: 7/12/2020 6:54:48 PM Posted by: RTT
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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