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Rating: 
Summary: This book is sweet and simple!
Review: I enjoy how this book offers a highly robust, yet simple trading system, applicable to any market. I have used the Momentum Moving Average approach with great success. I have noticed that it often forecasts majors rallies and drops in a timely fashion. Apply these methods to your trading and you will see the profits!
Rating: 
Summary: rehashing the same old, same old
Review: It is evident that Bernstein appears much more active in the business of writing books than trading; his earlier book Compleat Day Trader was o.k. but the rest with possibly the exception of his book on futures are a assembly-line like rehash of the same old material with the benefit of a new cover, and a new angle. It seems that the author always espouses a "new" breakthrough method in each of his books but in actuality is simply selling basic, unproven ideas at a high cost, extended over hundreds of pages. For example, in Momentum Stock Selection, you're instructed to find a stock making new highs, and corresponding points on the momentum oscillator which show divergence - THIS signals an imminent price reversal. That's it folks. [But you can keep the 30 or so bucks for me having told you. Unproven. Untested. And not accurate. If you want to use one of the most powerful indicators for probability forecasting, I'd suggest looking at the CCI.
In Bernstein's Stock Market Strategies That Work, the author toys with a bunch of theoretical ideas like the MAC Hi-Lo Channel (his proprietary analysis tool that's nothing more than a Bollinger band which roughly equates to a 9 period setting and a standard deviation of 1). When 2 price bars go above the channel look for a pullback to go long, and when the opposite, look to sell. As usual, the book's examples are often unclear (are you supposed to buy at the breakout above the band, or at the pullback??) and often confusing. But hey, this is another "breakthrough" discovery so I guess the reader should be thankful. BTW, if you're really interested in the MAC channel on the charts of your choice. Simply go to Barcharts.com and then the OPINIONS section and it's Free! No kidding. And that's my point. Save you're money, and look for trading books that are a value for your dollar and not the authors'. My recommendations: Technical Analysis by Schwagger, High Probability Trading by Link, Technical Analysis by Kramnick (sic?) and Swing Trading by Jon Markman of MSN.Com. Good luck and always keep the green eyed monster in check.
Rating: 
Summary: Only Divergence available?
Review: The prevailing main idea from this book is Divergence, especially Momentum Divergence with Price. I understand this means you should pick up the stock forming Divergence from every stocks if you get higher profit. And the only one indicator he mentioned in the book is Momentum indicator, not mysterious one.
It'll be helpful for novice, but not professional trader.
Rating: 
Summary: Very usefull and easy to read
Review: This book offers a simple but robust method of trading on stockmarkets. The presence of many many (sometimes too many) charts makes it possible to read on the beach, not just behind the computer.
The Momentum Stock Selection method is good. Bernstein claims that you can use the method on intraday basis. This is true, but not in the same simple way as he shows in the book, it takes a lot more interpretation and experiments (on paper first is my advice!!).
His rules on do's and don'ts in trading are absolutely valuable and true, and funny to read of you have done all the don'ts already in the past.
Rating:
Summary: just a good read, but not the best trading book
Review: this is a good book and well written. very easy to read and understand.however, it comes across as too simple. the methods that are discussed here does not really give you the confidence that they are sufficient for you to trade properly. another book by this author on the psychology part of trading, 'IQ the investors quotient', is a much better and strongly recommended read. in terms of market momentum, martin pring's 'trading with oscillators' is more useful, and just as easy to read.
Rating:
Summary: So simple, sometimes naive
Review: With respect to this book, I do agree that
1) momentum is a very important trading concept whilst MACD is a very useful oscillator type indicator to identify overbought and oversold situations, and thus change of s/t trend, a TA tool which helps traders not to buy high sell low, especially in a day trading environment.
2)the author had written a very easy reading book in a very friendly and understandable way.
However, I can hardly agree that:-
1) the author presented momentum as a surefire weapon in the highly volatile market and can be used alone
2) the author did keep it simple, but it's too simple all the way throughout the 180+ page content. He should go from simple concept to complicated application, and teach readers how to improve its accuracy with simultaneous usage of stochastics or RSI or...In fact, there are many examples/charts illustrated by the author which showed extended period of divergence with very unfavorable price moment that might have already kicked an investor out of his position, in case he/she did not have a strong conviction on his/her position but by sheer reliance on MACD.
As a professional trader, I cant recommend this book to anybody. The quality of this is far below the author's own classic "Investment Quotient" which the author's strength (trading behavioral psychology) rests solidly upon.
Rating:
Summary: So simple, sometimes naive
Review: With respect to this book, I do agree that 1) momentum is a very important trading concept whilst MACD is a very useful oscillator type indicator to identify overbought and oversold situations, and thus change of s/t trend, a TA tool which helps traders not to buy high sell low, especially in a day trading environment.
2)the author had written a very easy reading book in a very friendly and understandable way. However, I can hardly agree that:- 1) the author presented momentum as a surefire weapon in the highly volatile market and can be used alone
2) the author did keep it simple, but it's too simple all the way throughout the 180+ page content and he should lead the readers from simple concept to complicated application or even teach readers how to improve its accuracy with simultaneous usage of stochastics or RSI or...In fact, there are many examples/charts illustrated by the author which showed extended period of divergence with very unfavorable price moment that might have already kicked an investor out of his position, in case he/she did not have a strong brief on his/her position but by sheer reliance on MACD. As a professional trader, I cant recommend this book to anybody. The quality of this is just so far below the author's own classic "Investment Quotient" which the author's strength (trading behavioral psychology) rests solidly upon.
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