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% u0 b$ a/ d, V) O1 B8 L5 B原文:
: s" [* Y5 M; F+ Y7 |" B0 FIMPORTANT POINTS TO REMEMBER IN FORECASTING/ Z( N* |& L2 u8 f
( V2 V* I7 P, H. O. j+ c' Q* n! rTIME is the most important factor of all, and not until sufficient time has expired does any ( @8 W- D0 ~1 Z, E1 `* D
big move up or down, start. The Time factor will overbalance both Space and Volume.
}6 q* |- R' k& JWhen Time is up, space movement will start and big volume will begin, either up or down.
0 o$ ^' W' L! Z; G/ SAt the end of any big movement – with monthly, weekly, or daily – Time, must be allowed ' i% P8 ]( V' B! p/ e; w1 o) V* G
for accumulation or distribution.) p- t! h- o: j) `* w7 W+ {& y* Q
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Consider each individual stock and determine its trend from its position, according to distance
: K' K8 ~+ u, f3 z; S: Hin time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-
6 [, c( ^! F1 L7 Q# G( b9 \/ byear cycles from its own base or bottoms and tops, regardless of the movements of other 8 u9 \9 o0 q% R: l; J/ u, l
stocks, even those in the same group. Therefore, judge each stock individually and keep up
9 n7 |; v: U6 n) N& I1 _weekly and monthly charts on them.% p. l/ P9 w1 \4 g' A
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Never decide that the main trend has changed one way or the other without consulting the ! {9 {/ {% _" Q7 C
angles from top or bottom and without considering the position of the market and cycle of $ g: ?2 s. |3 [- w
each individual stock.: | a1 S7 o6 z/ y4 @6 \" y
. i+ M) K' u" Y/ ~! k8 d6 F- x: jAlways consider the annual forecast and whether the big time limit has run out or not before 8 {8 t5 c+ A& z' I( z) }7 \5 s* P
judging a reverse move. Do not fail to consider the indications on Time, both from main tops
0 K+ B% G5 I7 h1 h, A* Kand bottoms, also Volume of Sales and position on Geometrical Angles.% m) u3 ~; Y0 ?2 p7 J
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A daily chart gives the first short change, which may run for 7 to 10 days; the Weekly Chart 9 a$ v' u; S$ |. H* i
gives the next important change in trend; and the Monthly the strongest. Remember, weekly
- ]( o' s/ i2 N( D; P- Ymoves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle, 8 \& _2 G6 g2 z3 B# @% M
before reversing.8 ^# F7 c# R! S9 \
" }' ]4 \0 v `+ S1 jYearly bottoms and tops: it is important to know whether a stock is making higher or lower
3 r. `4 x& }+ @7 F; Y' _* [bottoms each year. For instance, if a stock has made a higher bottom each year for five years,
9 ~* S# g3 d% a* ]: i* zthen makes a lower bottom than the previous year, it is a sign of reversal and may mark a long
# _$ b9 U- n' Y- C/ {down cycle. The same rule applies when stocks are making lower tops for a number of years
, f; S2 z- ^' y5 Bin a bear market.
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; `3 L1 N" k U" ^" x% M: D5 xWhen extreme advances or declines occur, the first time the market reverses over 1/4 to 1/2 of # @& N. }4 ~# R& k. Z3 l
the distance covered in the previous movement, you consider that the trend has changed, at
\3 M8 M: L! m( q A" q+ Tleast temporarily.1 c9 w( Y+ B7 X) Q0 ^
' q& L: x) g+ xIt is important to watch space movements. When Time is running out one way or the other, 1 W" G6 w7 M# X$ C
space movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of
/ T9 M3 ~( K+ g4 sthe last move from extreme low to extreme high, which indicates that the main trend has $ q% U& q2 c. w4 |, D: o* c
changed.6 @" _7 P) ]$ v0 x# d
x6 Z, O6 R- A3 C- C7 pStudy all the instructions and rules that I have given you; read them over several times, as
0 g+ ~1 @# |1 ]/ j! A& S# @each time they will become clearer to you. Study the charts and work out the rules in actual
/ O: i3 u/ M6 [9 ]( m7 `practice as well as on past performance. In this way, you will make progress and will realize
% m% h, |& \, {- L8 `* Aand appreciate the value of my Method of Forecasting.
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