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原文:: Z, i5 `0 }' B& w7 X# b- v9 _
IMPORTANT POINTS TO REMEMBER IN FORECASTING
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8 }* u+ o7 t- n! ITIME is the most important factor of all, and not until sufficient time has expired does any * }; k1 d- d7 k
big move up or down, start. The Time factor will overbalance both Space and Volume. ) [! D, y7 ~* L+ t' n N
When Time is up, space movement will start and big volume will begin, either up or down. 3 Y7 I5 l% {* @: A% z1 _/ s7 g
At the end of any big movement – with monthly, weekly, or daily – Time, must be allowed
4 D# ?0 y9 ` k k5 |* W& [for accumulation or distribution.
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Consider each individual stock and determine its trend from its position, according to distance * I, _6 a2 {* K9 z# q9 \
in time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-5 @& U S" b7 R" \- B$ E
year cycles from its own base or bottoms and tops, regardless of the movements of other
: V1 @' o* U% ~. {! M9 `stocks, even those in the same group. Therefore, judge each stock individually and keep up
% N4 n. E0 h4 d% \" A3 s1 k: |- Oweekly and monthly charts on them.
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5 |. W+ E' R6 W# ^1 ^; ?Never decide that the main trend has changed one way or the other without consulting the / ?- i% W- y2 @9 Z% f P
angles from top or bottom and without considering the position of the market and cycle of 8 {3 {/ g+ {) U. R- _
each individual stock.
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1 t7 E0 g# i" ~( A- V; IAlways consider the annual forecast and whether the big time limit has run out or not before ( S' p- _. B7 r4 ^
judging a reverse move. Do not fail to consider the indications on Time, both from main tops
9 ~, s2 A8 A" p) \$ b: Z! y# Xand bottoms, also Volume of Sales and position on Geometrical Angles." `$ F8 x& H5 h0 h* ?( @
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A daily chart gives the first short change, which may run for 7 to 10 days; the Weekly Chart
: e7 ?% o. N" `2 w8 G3 x5 N# Zgives the next important change in trend; and the Monthly the strongest. Remember, weekly, Z$ _& P/ s0 @3 i, H1 e! ?
moves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle,
# m* `/ J0 J$ S, J5 a/ ~before reversing.3 o/ D T4 X( A: i0 c- X+ ` Z
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Yearly bottoms and tops: it is important to know whether a stock is making higher or lower
: X/ f+ B6 g: p8 X7 Nbottoms each year. For instance, if a stock has made a higher bottom each year for five years,
. Y( c/ x/ Q4 S" [. S# k& ^+ ?then makes a lower bottom than the previous year, it is a sign of reversal and may mark a long
) V# T+ v: k9 N+ q5 @down cycle. The same rule applies when stocks are making lower tops for a number of years : C. C# P5 ]2 F8 \ A, ~
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
4 D% p* }+ G" o& l- G# S7 n" wthe distance covered in the previous movement, you consider that the trend has changed, at ! a' D( P7 t2 X8 f
least temporarily.% f- _+ O; u4 h% X
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It is important to watch space movements. When Time is running out one way or the other,
) @+ N w; E: `2 L# h& G# W5 aspace movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of
* B1 }; E; q. c/ [; r2 Nthe last move from extreme low to extreme high, which indicates that the main trend has
& V1 C+ t6 X. B; n+ [changed.
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0 V+ Q: S) ?$ WStudy all the instructions and rules that I have given you; read them over several times, as , q2 O3 B$ s% m' A) n) C
each time they will become clearer to you. Study the charts and work out the rules in actual ! f8 e/ `, c2 j0 x
practice as well as on past performance. In this way, you will make progress and will realize ) z+ ^+ E+ }- o2 }4 j3 w" v& d
and appreciate the value of my Method of Forecasting.& F8 N- e! E7 n' R6 y+ a6 J
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