DOW THEORY REDUX
Probus Publishing Company
Author: Michael Sheimo
Over the years much has been written about the Dow Theory. Many stock market traders have made and
lost untold fortunes based on their understanding or misunderstanding of Charles Dow's theory.
No doubt Dow would be surprised to know that his thoughts on the behavior and relationships of prices
have survived almost 100 years. Of greater surprise might be the psychological and technical effect this
average has on worldwide price movements.
Michael Sheimo begins where William Hamilton and Robert Rhea (circa 1935) left off. The word redux
in the book's title explains everything. Redux refers to a re-examination of the "traditional" Dow Theory
with attention given to its clarification and use for the 1990s and 21st century. Readers looking for a
comprehensive discussion of Dow's Theory will not find it here. Rhea's writings would better serve this