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原文:
* I, a M& |4 F3 y2 A* x J- qIMPORTANT POINTS TO REMEMBER IN FORECASTING
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. _0 y1 ?; [& w6 hTIME is the most important factor of all, and not until sufficient time has expired does any
" z% l) }, T/ Tbig move up or down, start. The Time factor will overbalance both Space and Volume. 2 B% H; O0 _2 m1 S% n2 F- W
When Time is up, space movement will start and big volume will begin, either up or down.
8 o/ j9 H; q% _: ]At the end of any big movement – with monthly, weekly, or daily – Time, must be allowed
$ _1 T0 n+ M4 B! Dfor accumulation or distribution.7 O: U" \4 Z8 {8 s
& o0 R: i' B* `& A: ~Consider each individual stock and determine its trend from its position, according to distance 3 L! k: b/ b2 z
in time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-0 N- E4 G5 U; B! ^3 W
year cycles from its own base or bottoms and tops, regardless of the movements of other
& H+ b; x$ |0 ^7 u1 e2 ~# Tstocks, even those in the same group. Therefore, judge each stock individually and keep up ; S: d7 I7 t0 B y* n' M- y
weekly and monthly charts on them.
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Never decide that the main trend has changed one way or the other without consulting the 1 l& b! x" Q4 H
angles from top or bottom and without considering the position of the market and cycle of # D* D- X l* R: O! i5 b1 r- d
each individual stock.
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Always consider the annual forecast and whether the big time limit has run out or not before
3 D' ?0 `" P5 Q3 i5 p7 J/ E2 tjudging a reverse move. Do not fail to consider the indications on Time, both from main tops
) Z6 S( M- M: R7 |7 `and bottoms, also Volume of Sales and position on Geometrical Angles.% V! H, Y: B7 C* ]! I+ X4 d w
- b7 `( V- r: \) e+ `" E4 M; }A daily chart gives the first short change, which may run for 7 to 10 days; the Weekly Chart & [$ G8 r2 l; r
gives the next important change in trend; and the Monthly the strongest. Remember, weekly- q% N3 }" n( S* d
moves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle, i* l/ P! G6 m, l9 E; p) m* h
before reversing.
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+ n) N; @/ J- ?+ j5 W1 UYearly bottoms and tops: it is important to know whether a stock is making higher or lower ! E* a1 s6 S. { q
bottoms each year. For instance, if a stock has made a higher bottom each year for five years,
: ]* J" z- S$ G5 Q! Z; bthen makes a lower bottom than the previous year, it is a sign of reversal and may mark a long
" n1 G7 u; O) g# r( r% Ldown cycle. The same rule applies when stocks are making lower tops for a number of years
; y, a/ N$ {, x M3 Gin a bear market.( F" ^ u$ y, T
0 q; l! |% P+ {% S) O9 _ VWhen extreme advances or declines occur, the first time the market reverses over 1/4 to 1/2 of
, D6 K# h# ]" p; k; l- pthe distance covered in the previous movement, you consider that the trend has changed, at - y- L) ?' `: W2 ]# Q5 x8 H+ y
least temporarily.
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1 Q: [: g% q3 I+ I! p2 p* jIt is important to watch space movements. When Time is running out one way or the other, - U/ L- D5 u( f U: T& C# j9 R' ]$ N
space movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of
" L# n; d1 ^' G1 X1 Ithe last move from extreme low to extreme high, which indicates that the main trend has 0 ]2 x( o5 t( a9 Z
changed.4 y9 S$ r9 y1 |- [% ]/ |
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Study all the instructions and rules that I have given you; read them over several times, as
5 H- T+ O. J/ W T0 j, }& `each time they will become clearer to you. Study the charts and work out the rules in actual
* ]& l8 ~/ Y6 P6 ]* y7 }practice as well as on past performance. In this way, you will make progress and will realize 8 S# n9 X( L4 A% l5 E
and appreciate the value of my Method of Forecasting.
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