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原文:
; B6 a$ N( |9 p; N2 s8 y" [IMPORTANT POINTS TO REMEMBER IN FORECASTING# f) Y* F% z" t1 I ~+ X" V
6 Z( u7 v4 p! k% M, v; y/ tTIME is the most important factor of all, and not until sufficient time has expired does any . \; u3 @7 ~; `- @- R
big move up or down, start. The Time factor will overbalance both Space and Volume. / \+ w/ ~8 A" a; I; ]# P
When Time is up, space movement will start and big volume will begin, either up or down. * t- {( M' z' j6 \/ G1 I' P
At the end of any big movement – with monthly, weekly, or daily – Time, must be allowed 1 F4 I1 y/ O# L- J
for accumulation or distribution.% D6 Z* c( W! \0 m
, K8 h* c# |9 Q6 Q" {Consider each individual stock and determine its trend from its position, according to distance
! R: M$ C; H" m* j. k3 [in time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-
9 t0 I9 `6 F) hyear cycles from its own base or bottoms and tops, regardless of the movements of other * A; H8 ]1 K; m
stocks, even those in the same group. Therefore, judge each stock individually and keep up
" _. h8 G P1 h$ [. n4 F4 ?weekly and monthly charts on them.5 p- X! q) y9 ^/ s. }; Y8 x( t7 K
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Never decide that the main trend has changed one way or the other without consulting the
9 u! j" m. A$ x6 c4 d3 sangles from top or bottom and without considering the position of the market and cycle of
* m5 B; H7 p9 y* \ geach individual stock.& o% e5 Q& V) I) C0 x
' ]$ J, }. e5 g4 cAlways consider the annual forecast and whether the big time limit has run out or not before
0 L6 F% |6 j' Z. W- f6 j. e* Y1 ajudging a reverse move. Do not fail to consider the indications on Time, both from main tops
+ o6 s' V, x( T. v1 k/ Uand bottoms, also Volume of Sales and position on Geometrical Angles.+ ~* I6 k1 i( H* ^
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A daily chart gives the first short change, which may run for 7 to 10 days; the Weekly Chart
0 |" E; G6 q% G' d1 N! V& j# a$ Qgives the next important change in trend; and the Monthly the strongest. Remember, weekly# v: z2 C. c" [/ u" w1 B- |) y
moves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle, ) K1 a8 e8 v5 d
before reversing.
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8 t. L7 V/ J1 }, f5 e+ AYearly bottoms and tops: it is important to know whether a stock is making higher or lower ) m0 C) e9 {% [0 p
bottoms each year. For instance, if a stock has made a higher bottom each year for five years, , V8 s" O5 F6 b7 i( [2 H
then makes a lower bottom than the previous year, it is a sign of reversal and may mark a long + g3 X4 \, z7 y9 H* e- r
down cycle. The same rule applies when stocks are making lower tops for a number of years
: F6 b2 q! Z7 A; j4 j- Vin 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
' W5 w1 C$ z& g2 F! [7 pthe distance covered in the previous movement, you consider that the trend has changed, at ' s) E3 v# A! c' f5 y; ]4 y
least temporarily.7 {2 j) P6 t2 ^: @: y0 c( T( ~
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It is important to watch space movements. When Time is running out one way or the other,
) O3 \4 L5 P" V) [space movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of : S1 G; z, l' R
the last move from extreme low to extreme high, which indicates that the main trend has
# t& Z9 G" G, }9 l Z3 pchanged.9 {4 T' z0 ?6 a3 z$ U. t1 z3 t" L
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Study all the instructions and rules that I have given you; read them over several times, as
$ H" `9 h: f/ t2 M. q7 Ieach time they will become clearer to you. Study the charts and work out the rules in actual
' q6 e$ F% I, S: ^( A$ Bpractice as well as on past performance. In this way, you will make progress and will realize 5 K; _1 ~) U8 b. Q3 \" C7 L
and appreciate the value of my Method of Forecasting.
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