If Edwards and Magee wrote the bible of technical analysis in 1948 when they first published “Technical Analysis of Stock Trends,” then why do we need a Ninth Edition of their classic? This question was foremost in my mind as I began reading this recently released version of a book I spent many hours with as I prepared for the CMT exams. After reading all 832 pages, I realized that in many ways, the financial markets, and technical analysis, are finally maturing to the point where we can fully grasp the significance of what was first written almost sixty years ago. With a focus on pragmatic portfolio theory, editor Charles Bassetti significantly contributes to the technical analysis body of knowledge especially related to tactics, and has created a book worth a space on every technician’s bookshelf. In this edition, Bassetti delivers much more than an update – it’s actually a new

Before reading the ninth edition of Technical Analysis of Stock Trends, I asked myself what type of person would take on the task of updating the bible of technical analysis? This daunting task was accepted by Charles Bassetti, a highly qualified technician who considered it an honor when the publisher asked him if he would update the work of his mentor and friend, John Magee. Charles began trading in 1960. In his own words, he did ‘some stupid things’ in the market, before a colleague introduced him to the work of Edwards and Magee. By 1963, he became of a client of Magee’s advisory service, and was fortunate enough to be able to spend many hours discussing chart patterns and trading tactics with Magee. Charles benefi ted from the expertise of Magee even after Magee retired in the late 1970s, as their friendship continued until Magee’s death in 1987.  As a professional,

UBS built their USA Headquarters in Stamford, Connecticut – just 45 minutes by train out of New York City. The architecture is stunning – a contemporary design with huge 5 story windows across the façade of the building, and an interior stairscape that leads up to the fifth story all in one sweep – landings on each floor. Above the fifth story of executive offices, you come up (by elevator and through intense security) to what looks like an airplane hanger of wide open space with a four-story high ceiling complex of beautifully interwoven lighting and air-circulating equipment. This gigantic trading floor is built without columns or interior supports – there is no interference with a view to every periphery of the room twinkling with multicolored numbers and symbols. I met with Bill O’Donnell at his computer in this very exciting environment… William O’Donnell [WOD]: I’m William O’Donnell — I run