The Dow Theory.

The first edition of Robert Rhea's contribution to the development of Dow Theory, named for the eccentric founder of The Wall Street Journal, Charles Dow (1851-1902), whose trend-following trading strategy laid the groundwork for modern technical analysis and market forecasting.

While confined to bed with illness for ten years, Rhea studied the Dow's action thoroughly, eventually becoming convinced that it provided the only accurate method for forecasting stock movement. This clear and precise work is the result. By 1938 Rhea was selling his mimeographed 'Dow Theory Comments' opinions to five thousand clients at forty dollars a year. Soon he had twenty-five assistants, and his bedroom became a statistical storehouse.



First edition; 8vo (23.5 x 16 cm); publisher's ad. to half-title verso, tables, appendix of the editorials of William Peter Hamilton in the Wall Street Journal; later black cloth, spine lettered in red, minor damp-staining to margins of front few ff., occasional pencil annotations; x, [2], 252pp.

Dennistoun 405; Zerden p.10; Hess Collection.