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) A4 ]7 S8 V3 D9 x原文:
F1 Q4 ~ Y$ B; r" S9 [IMPORTANT POINTS TO REMEMBER IN FORECASTING
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) V3 s# m/ K. q" U1 j0 {: jTIME is the most important factor of all, and not until sufficient time has expired does any / M8 p0 t# S/ h, r# f* L; M) i9 G& n4 V
big move up or down, start. The Time factor will overbalance both Space and Volume. 8 ]6 S h; d9 |/ }0 u$ x
When Time is up, space movement will start and big volume will begin, either up or down.
6 q# |. k3 D% P* H5 |At the end of any big movement – with monthly, weekly, or daily – Time, must be allowed ; X2 h4 F3 R% m2 J
for accumulation or distribution.$ j2 w1 D4 b( T. N
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Consider each individual stock and determine its trend from its position, according to distance
2 F" Y: G; m( l/ u! sin time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-
g, D& c, n1 J Q2 Pyear cycles from its own base or bottoms and tops, regardless of the movements of other 2 z; F# P* e' P$ e$ L( O7 @9 v
stocks, even those in the same group. Therefore, judge each stock individually and keep up
" c' e, o0 A5 F6 w* T, rweekly and monthly charts on them.
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, _! g$ k* S6 f5 g9 r1 wNever decide that the main trend has changed one way or the other without consulting the , T, p$ ]% h6 Y% X5 w, Z. R: b- m
angles from top or bottom and without considering the position of the market and cycle of $ F- [7 T0 }6 L4 O
each individual stock.
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/ _) ^( H3 @3 r2 b7 v8 GAlways consider the annual forecast and whether the big time limit has run out or not before
6 X+ A7 g, q% m4 |& H( T1 Y7 _judging a reverse move. Do not fail to consider the indications on Time, both from main tops : t( N) {9 c; V8 d9 p' n
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 ! t) V/ t6 w a, M B$ D
gives the next important change in trend; and the Monthly the strongest. Remember, weekly
! Z1 I' q! q: Y3 Rmoves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle, 1 F$ ]0 O; o# P. [
before reversing.
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) p8 d5 Q+ K1 u7 C; x6 lYearly bottoms and tops: it is important to know whether a stock is making higher or lower
0 E5 n: [" j9 A2 o' i3 U9 sbottoms each year. For instance, if a stock has made a higher bottom each year for five years, N( _5 k% j7 R8 q( y
then makes a lower bottom than the previous year, it is a sign of reversal and may mark a long
n: [$ f/ M* p! xdown cycle. The same rule applies when stocks are making lower tops for a number of years 9 A3 U/ @1 C2 |0 H. U. s
in a bear market.
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4 t5 p- {) B( HWhen extreme advances or declines occur, the first time the market reverses over 1/4 to 1/2 of & P1 @& L3 ]9 F2 X
the distance covered in the previous movement, you consider that the trend has changed, at $ q0 N& Z& `8 K5 U7 m& {( J2 j
least temporarily.0 v+ V- T6 S! q5 x5 a' w4 u' ?4 F
! x' g$ H: @& q x1 J: YIt is important to watch space movements. When Time is running out one way or the other, 1 u0 V5 V# u+ k F! q/ Z* A
space movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of
/ T, \( o( ~6 P: T' mthe last move from extreme low to extreme high, which indicates that the main trend has ' ]( e3 R9 F8 K" R" L
changed.
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Study all the instructions and rules that I have given you; read them over several times, as E' M* N" ~ [
each time they will become clearer to you. Study the charts and work out the rules in actual
) y8 b0 g1 I9 N. f" p. qpractice as well as on past performance. In this way, you will make progress and will realize / D( e% Q+ w0 b; `( z+ X
and appreciate the value of my Method of Forecasting.
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