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DeVilliers and Taylor on Point and Figure Charting

By Victor DeVilliers and Owen Taylor
Cover of DeVilliers and Taylor on Point and Figure Charting (Paperback) by Victor DeVilliers andOwen Taylor

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About the Authors

Victor DeVilliers

Little is known about the personal lives of each of this author, from the quality and clearness of the writings in his works, it soon becomes apparent that Victor DeVilliers was not only very knowledgeable on the markets but he had the uncommon talent to put it into written words.

Owen Taylor

Little is known about the personal lives of each of this author, but Owen Taylor was certainly extremely capable, being more the expert on the technical aspects of market analysis, something easily ascertainable from the Technical Analysis subjects that he presented in his own books and booklets.

Contents Listing

Preface to First Edition
Introduction to First Edition

1 THE PRINCIPLES OF THE POINT AND FIGURE METHOD
Logic is the basis of this Method
Irrelevant fluctuations eliminated
How the Method got its name
Graphs are logical and scientific
Introductory summary of important principles
Needed accessories are few
Plotting a stock price movement
One point charts the basis of the Method
Accessories and working tools

2 THE WEIGHT OF AUTHORITY BEHIND THIS METHOD
Refined to coordinate with present day markets
Mystery and complications have been clarified
Expensive financial and economic reports unnecessary
Certain factors taken for granted
Analytical technique easy to master
Losses limited while profits accrue
Method weighs forces of buying and selling

3 ADVANTAGES OF THIS METHOD OVER OTHERS
Speed and ease of recording data
The Method ignores volume
Price changes versus volume
Supply versus demand
Volume easily manipulated
Facility of this method
The utter simplicity of the records
Manipulation readily detected
Use all full figure changes in making charts
Method is superior to inside information
Isolation develops best results
Our charts reveal plans of the majority
How the move begins
Stock market trading is a business
Inside information unnecessary
One point charts show all

4 THE VITAL POINTS
Vital point I - recording full figure changes
Vital point Il - only full figure changes
Vital point III - suitable graph paper
Vital point IV - use of horizontal and vertical columns
Vital point V - trend reversals
Vital point VI - only one symbol to a square
Vital point VII - move over diagonally
Vital point VIII - skip no squares
Vital point IX - formation of congestion area
Vital point X - the full fulcrum
Vital point XI - first buying point
Vital point XII - the catapult
Vital point XIII - secondary buying point
Vital point XIV - the semi-catapult
Vital point XV - third buying point
Vital point XVI - watch for distribution
Vital point XVII - trend lines
Vital point XVIII - forecasting the extent of the move

5 APPROVED METHOD OF ASSEMBLING AND MAINTAINING PROPER DATA
The ticker tape
Source of all data
Daily full figure fluctuations available
Method ideal for those at distant points
Application of the data
How to prepare and collate the needed data
Proper graph paper helpful
Arrange charts orderly
How to select the issues to record
Clarifying the use of the symbols
Moving to next vertical column
Use of symbol "O??
One cardinal principle
Gaps are not recorded
How the gap occurs
Plotting the gap
The one point chart
The three point and five point charts
Condensing the one point moves
Other helpful aids
The method substitutes for tape reading
Trend outline and geometrical charts
The proper issues to chart
Commodity price movements

6 THE SCIENTIFIC FUNDAMENTALS
The fulcrum
Leverage
Watch for a fulcrum
The ideal full fulcrum
Down trend a prerequisite to fulcrum formation
Supply equals demand
Advantage of figure charts
The buying points
The broad fulcrum
The recoil fulcrum
The catapult
The true catapult
The false catapult
The semi catapult
Use "stops" to protect position

7 THE PRINCIPLES OF CHARTING
The one point chart
Move to next column signs of a fulcrum
Technical aids
The three point chart
Determining three point moves
The use of five point charts

8 ANALYZING TECHNICAL POSITION
The price path characteristics
Patterns of the leaders duplicated in the secondary issues
Solid formations give confidence
Watch for changes in activity
Strong and weak technical position
Weak technical position
Gauging the length and culmination of the moves
The count
Coordinating your studies

9 ANTICIPATING THE ACTION OF U.S. STEEL
The full ideal fulcrum
The catapult position
The semi-catapult position
Consolidating the gains
The final mark up
The end of the move - a reverse fulcrum
The short positions
Geometrical charts
The trend outline charts
The three point figure charts
The five point charts
Summary

10 ANALYZING A CAMPAIGN IN WESTERN UNION
Selecting the fast moving issues
The full fulcrum base
The catapult
The semi-catapults
The short positions
Summary

11 JUDGING THE MINOR SWINGS
The half hourly index of the Dow Jones Industrials
The half point half hourly log
Half point technique
Scientific tape reading
Analyzing the half point chart
Ignore rumors and gossip
Summary

12 HALF POINT TECHNIQUE IN ATLAS TACK
Historical background
Analyzing the campaign in Atlas Tack
Important signal during July break
The first caution signal
Board room observations
The shorts began to cover
Point and Figure analysis

13 THE MAIN TREND AND MAJOR CYCLE CULMINATIONS
Critical culmination points easily detected
The one point chart - the basis for analysis
Interpreting an intricate major culmination
The first temporary top
Semi-catapult point - unusually bullish pattern
Strength carries through objective level
The change over of technical action
The top of the move clearly indicated
Indications of a major culmination
Bear trend technical action
The investor or long term trader

14 TECHNICAL INDICATIONS AT A TURNING POINT
The change to an up trend
The change to a down trend
Conclusion

VOLUME 2 ADVANCED THEORY AND PRACTICE OF THE POINT AND FIGURE METHOD

1 PREREQUISITES TO SUCCESSFUL TRADING
Develop proper mental approach
The value of isolation
Proper and adequate physical equipment
Technical knowledge and equipment
The Importance of selective data
Tape watching or active trading

2 BASIC PRINCIPLES - THEIR APPLICATION
Basic principles underlying this method
The trading range - accumulation
The fulcrum
The mark up
Distribution
The trend line
For long term main trend operations
Plotting the trend line
Technical position
Determining the technical position of the market position through the use of the five dominant positions
Resume

3 CHART FORMATIONS INDICATED THE INCEPTION OF A MOVE
The value of charts
One cardinal principal which must be understood
A necessary premise
Wait for signs of accumulation or distribution
What to look for
Await previous support
How the move begins
Establishing a long position
A practical example
Dead center
The use of the stop
Ultra-conservitism

4 RECURRING OPPORTUNITIES DURING THE MOVE
Study creates skill
Recognizing opportunities
Dividend absorbed
A long position established "on stop??
Judging the move
Confirmation of the move
A critical analysis of trading zones
How to plot new trend lines

5 THE ONE POINT CATAPULT AND SEMI-CATAPULT
Strong signals
Illustrations of catapult and semi-catapult patterns
Broad fulcrum desirable
Catapult and semi-catapult not the same as the conventional "new high??
Tracing a move in DuPont
The ladle formation
Confirmation
How to analyze the trend
Watch the trend line and use stops

6 GAUGING THE VOLATILE ISSUES
A fast mover
An unusual and unique device
Individual characteristics often repeated
Long positions
Consolidation zone
Three point summaries should be consulted

7 HOW TO RECOGNIZE ADDITIONAL OPPORTUNITIES INVOLATILE STOCKS
Low priced stockS
Avoid guesswork
Erratic stocks not dangerous
Consider the unexpected
Conservation pays
The importance of dividends, extras, and rights
Watch "ex-dividend" dates
Limit losses let profits accrue
Continually analyze the formations

8 CULMINATION, LIQUIDATION, PROFIT TAKING, AND THE SHORT SIDE
When to take your profits
One point signals on the short side
The reaction pattern in ACF
Signal for the short side
Watch for signs of absorption
The inverse catapult
Signals for short and long positions
Analyzing a stock for technical position
Signs of culmination

9 THE THREE POINT CHART
How to prepare the three point chart
Averages a confirmation
Watch for the balance of forces
The importance of seasonal trend
Three point analysis

10 COORDINATING THE ONE POINT WITH THE THREE POINT CHARTS
Three point chart a check on the one point chart
Illustrations of coordination
Inside accumulation
Manipulator's campaign
The manipulator's methods
The false start
Pool switches to short side

11 THE COUNT - GAUGING THE EXTENT OF FUTURE MOVES
The theory underlying the count
The count not an exact science
Horizontal formation may disclose the extent of the move
The principle of "the count"
The one point count
The forecast
Anticipating the next move
Additional charts for study
The count by three points
A new point for a forecast
Accuracy of the count
A three point test for future market action
Cumulative implications more reliable
Preface to First Edition
Introduction to First Edition

1 THE PRINCIPLES OF THE POINT AND FIGURE METHOD
Logic is the basis of this Method
Irrelevant fluctuations eliminated
How the Method got its name
Graphs are logical and scientific
Introductory summary of important principles
Needed accessories are few
Plotting a stock price movement
One point charts the basis of the Method
Accessories and work ...

Jacket Text

Little is known about the personal lives of each of these authors, but in surveying their other books and writings, a more informed picture emerges of their capabilities in their chosen field, stock and futures market analysis. From the quality and clearness of the writings in this and other of his works, it soon becomes apparent that Victor DeVilliers was not only very knowledgeable on the markets but he had the uncommon talent to put it into written words. (Most market authors are generally better traders and investors than writers.) On the other hand Owen Taylor was certainly extremely capable, being more the expert on the technical aspects of market analysis, something easily ascertainable from the Technical Analysis subjects that he presented in his own books and booklets.

It is to the credit of both authors that they recognized just how valuable to investors and traders the Point and Figure method could be and that they saw fit to produce this fascinating work on a subject that in its essence is just putting small "Xs" on graph paper. But how to put them to graph paper and how to read their meanings is what can separate the trading and investing boys from the trading and investing men. Surveying all of the writings that have been published over the years, we find there have been and are a number of good, very good and excellent books on the Point and Figure methodology and its star attributes. However, every once in a while someone comes along and writes what is easily the seminal work, the finest on its particular subject. Some 65 years later we can attest to the fact that Victor DeVilliers and Owen Taylor rule the roost on their chosen subject with the two volumes republished here, which taken together, have to be considered the ultimate - "The Bible of Point and Figure Charting."

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