The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis

Chapter 8. John J. Murphy

You have to be comfortable being in the minority. If you're right about the market most of the time, you're going to be in the minority, because the majority is usually wrong.

John J. Murphy is a chief technical analyst of StockCharts.com, providing investors analysis online. Previously, he was a director of technical research at Merrill Lynch and president of MurphyMorris Money Management Company. Murphy is a popular author on the subject of technical analysis. His book Technical Analysis of the Financial Markets is regarded as the standard reference in the field, and in Intermarket Technical Analysis, he pioneered a branch of technical analysis emphasizing interrelationships between various financial markets. The Visual Investor, which applies charting principles to sector analysis, is his third book. A former technical analyst for CNBC, Murphy has appeared on major financial television programs such as CNN Moneyline, Nightly Business Report, and Wall $treet Week with Louis Rukeyser, and on Bloomberg Television. He has been quoted in leading financial newspapers and magazines, including Barron's and Stocks & Commodities magazine, which described his intermarket work as "unparalleled." In 1992, Murphy received the first award for outstanding contribution to global technical analysis given by the International Federation of Technical Analysts. In 2002, he received the Market Technicians Association's annual award. He holds a BA in economics and an MBA from ...