- Do you know On Balance Volume ? Yes- Do you know who is the father of On Balance Volume and it's analysis? No
- He is Joe Granville
Joe also is the first technician who pointed to the importance of 200 day moving average.
His first book “Granville's New Key to Stock Market Profits”, 1963 and he wrote “Granville's New Strategy of Daily Stock Market Timing for Maximum Profit”, 1976.
Joe wasn't only a technical analysis researcher and writer, he was an extraordinary person for the wall street arena.
In "Irrational Exuberance" - a book written by the Nobel Prize Winner- Robert J. Shiller mentioned how much Joe Granville attracted Wall street attention as he wrote about two episode:
" The first Granville episode took place on Tuesday, April 22, 1980. With the news that he had changed his recommendation from short to long, the Dow rose 30.72 points, or 4.05%. This was the biggest increase in the Dow since November 1, 1978, a year and a half earlier. The second episode occurred on January 6, 1981, after Granville’s investor service changed from a long recommendation to a short recommendation. The Dow took its biggest dive since October 9, 1979, over a year earlier. There was no other news on either of these occasions that might appear responsible for the market change, and on the second occasion both the Wall Street Journal and Barron’s squarely attributed the drop to Granville’s recommendation. "
That is Joe Granville and that is why you should listen to this Video, it was recorded at 31 August 2009 where he give a last Bull Market Call for the next two years and Yes he was right at his prediction.
Joe left us and this is the third anniversary of his passing