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0 X: L2 ? z' v; |% `! d% `/ H原文:
7 \" B2 J' c3 Z ]IMPORTANT POINTS TO REMEMBER IN FORECASTING: |* m( U4 }% c7 X8 @' v2 \
: c' h. `; d1 B3 H" L4 qTIME is the most important factor of all, and not until sufficient time has expired does any
3 |- d# Q6 A+ r# u' Vbig move up or down, start. The Time factor will overbalance both Space and Volume. . R& I. k3 t% l0 {+ ]9 v
When Time is up, space movement will start and big volume will begin, either up or down.
( Z5 \' E$ x( D: fAt the end of any big movement – with monthly, weekly, or daily – Time, must be allowed # z$ _$ p4 {3 Q8 n
for accumulation or distribution.
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Consider each individual stock and determine its trend from its position, according to distance
7 A0 c4 I- j" r* D/ uin time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-. Q3 F, {4 h" l1 r- M: r( u
year cycles from its own base or bottoms and tops, regardless of the movements of other * R; M E" c$ P
stocks, even those in the same group. Therefore, judge each stock individually and keep up
3 ?& \9 o" q+ b$ Z5 K/ ]weekly and monthly charts on them., ?0 n" b+ s8 z" [" Z
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Never decide that the main trend has changed one way or the other without consulting the : \: \9 v+ \ G0 x' L8 z
angles from top or bottom and without considering the position of the market and cycle of
% z2 ^! C$ _6 Oeach individual stock.$ P- K, Y6 z d$ w9 _
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Always consider the annual forecast and whether the big time limit has run out or not before ; I$ _5 o, l: `0 J0 d5 |. N7 j
judging a reverse move. Do not fail to consider the indications on Time, both from main tops
T6 { O3 I, n7 j- s+ f; }and bottoms, also Volume of Sales and position on Geometrical Angles.
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A daily chart gives the first short change, which may run for 7 to 10 days; the Weekly Chart
" Y/ F7 s( P+ ]9 n! M1 D1 j# @gives the next important change in trend; and the Monthly the strongest. Remember, weekly( i4 K( r. H" G/ e3 W" G$ X
moves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle, + `. a/ D4 q9 q3 Y* b# F. p, P" r; |- i3 h
before reversing." h' f' E3 [$ |$ ?- c6 M
/ E/ ^6 Z% }4 h2 M! F/ GYearly bottoms and tops: it is important to know whether a stock is making higher or lower
/ ~+ h/ V: }& Z0 Rbottoms each year. For instance, if a stock has made a higher bottom each year for five years,
) C! K3 T: U) F2 {1 Athen makes a lower bottom than the previous year, it is a sign of reversal and may mark a long 2 d9 l7 z) U7 x1 t" u! d- C/ P0 ?
down cycle. The same rule applies when stocks are making lower tops for a number of years 6 n2 I# `& o: `/ G! {
in a bear market.
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When extreme advances or declines occur, the first time the market reverses over 1/4 to 1/2 of 2 t, P' U- m, t
the distance covered in the previous movement, you consider that the trend has changed, at # U. Q% U P+ U7 _9 X
least temporarily.
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' y# @2 ~& G& Q7 WIt is important to watch space movements. When Time is running out one way or the other,
' ?' L, S& v+ ^4 T5 Y) M2 zspace movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of
) `$ k I% L8 G1 H4 Ethe last move from extreme low to extreme high, which indicates that the main trend has + l. `& s O- y
changed.
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# B' N1 H5 O% _ nStudy all the instructions and rules that I have given you; read them over several times, as 6 z- D- G' [, Y, |7 n4 m' e
each time they will become clearer to you. Study the charts and work out the rules in actual 7 {/ e" G1 j# w9 |
practice as well as on past performance. In this way, you will make progress and will realize . s. S7 ]9 K( g1 |; W
and appreciate the value of my Method of Forecasting.
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