The Dow Theory

Rating:
Summary: The birthplace of Commonsense-Charting.
Review: 'The Dow Theory' per se,is where commonsense-charting began : listening first and foremost to the collective expertise and opinion of investors,through observation of the market action it produces - as opposed to people's individual opinions and presumptions.

However,in my view,being focused on abstracts (indices) is its major drawback (Robert Edwards and John Magee took its commonsense index based premise,and nurtured it into something stock-specific in their unmatched 'Technical Analysis of Stock Trends '.).

Rating:
Summary: Excellent for those who want more info on the Dow Theory
Review: If you liked "Reminiscences of a Stock Operator" then you'll love this one too. It's not about the wonderful first-hand stories and lessons of "Reminiscences" but for the outstanding insights and information on a very workable theory plus the charming writing style used. Highly recommended.

Rating:
Summary: Reference for all
Review: Sure it's an old book but I feel that it is a good reference for all new investors because it'll give you a perspective, a foundation, a starting point, for you to begin your investing. This should belong on all investor's shelves.

Rating:
Summary: No Practical Value
Review: The book does give Hamiltons WSJ columns, which are of historical interest, but does not provide a useful method of applying the theory. Much better material on the Dow Theory are available on the internet.

Rating:
Summary: good for history buffs
Review: This is great for those wishing to know about the historical origins of the dow theory, but practically useless for those who want to understand how to apply the dow theory.

As one example, there are no graphs or table data on the rail averages (but there are for the djia) which is considered half of what is necessary for the dow theory.