The stock market is undergoing revolutionary change: new players, new technologies, new information flows, and new macroeconomic conditions. These changes are radically impacting investors, whether they realize it or not. Now, Wall Street insider Michael J. Panzner shows you how to profit from the changes--instead of being victimized by them.

Discover how falling transaction costs and a barrage of data are transforming investment patterns, and how stocks are increasingly being bought and sold like commodities. Understand the impact of electronic trading, instant messaging, and hedge funds on intraday volatility and short-term direction. Learn how booms and busts have altered investor behavior and risk preferences, why today's market is increasingly emotional, and why many traditional market indicators simply don't work anymore.

From the growing role of derivatives to the increasing unpredictability of seasonal and cyclical patterns, this book takes you "under the hood" of today's equity markets... so you can choose investments that win.

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