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" F- D9 w! `/ ^& A9 _" p( [* d2.译文乃初稿,未校稿,仅供参考!
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原文:. s _2 N$ V/ C" z0 \! p) a1 l3 V
IMPORTANT POINTS TO REMEMBER IN FORECASTING
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TIME is the most important factor of all, and not until sufficient time has expired does any
& d4 G: W3 Q- i" f4 W0 Sbig move up or down, start. The Time factor will overbalance both Space and Volume. 0 q& h. m( x) v6 m: S8 y
When Time is up, space movement will start and big volume will begin, either up or down.
4 i! ~# m1 _( Z0 c5 MAt the end of any big movement – with monthly, weekly, or daily – Time, must be allowed ! a" Q3 ?5 l3 }4 P+ x' V6 k4 q. {
for accumulation or distribution.
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r) z" _2 u: }% S4 N2 A; R' }Consider each individual stock and determine its trend from its position, according to distance
' ~) Q# W! C# ]$ {! w; D3 fin time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-
/ S/ ?; K" W; I. kyear cycles from its own base or bottoms and tops, regardless of the movements of other
( J; i0 q% x1 }; b6 ]7 p4 [+ y9 jstocks, even those in the same group. Therefore, judge each stock individually and keep up
" l% }, i: T a/ A3 \2 Tweekly 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
" d! v; u4 Z- z7 |angles from top or bottom and without considering the position of the market and cycle of + X( D# D6 n% x. ]% Y: `( W3 z
each individual stock.
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' g- L1 T! j: i" c' N. \7 XAlways consider the annual forecast and whether the big time limit has run out or not before 0 I j+ M' Q; Y- ?/ ^. I
judging a reverse move. Do not fail to consider the indications on Time, both from main tops
[# i( M7 I4 I1 Q# a: band bottoms, also Volume of Sales and position on Geometrical Angles.' M0 ~1 d# J& I2 B. {7 g
0 O- q' R& ?8 a6 iA daily chart gives the first short change, which may run for 7 to 10 days; the Weekly Chart
5 N+ G1 m' \) E J/ ?( Rgives the next important change in trend; and the Monthly the strongest. Remember, weekly5 d* U/ Q+ m- y1 ?6 K4 X5 L
moves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle, ( e/ s. A( u/ n) U7 T
before reversing.; x" X6 O) P9 D4 ~9 J. `3 h9 X( n
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Yearly bottoms and tops: it is important to know whether a stock is making higher or lower % v N" Q4 J ~4 v& K+ O# m8 [' Z
bottoms each year. For instance, if a stock has made a higher bottom each year for five years,
/ V* f2 ^9 }; E$ o1 Wthen makes a lower bottom than the previous year, it is a sign of reversal and may mark a long ' E+ _: Q8 Q4 Z; n
down cycle. The same rule applies when stocks are making lower tops for a number of years ( j e# O" C2 ]# a9 {% C( l. I
in a bear market.. m! N! p- \ {/ l3 c& D8 E0 G3 f
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When extreme advances or declines occur, the first time the market reverses over 1/4 to 1/2 of , m6 { B% A; j; y6 z4 g7 K
the distance covered in the previous movement, you consider that the trend has changed, at
4 S+ `, W7 J# l7 i% v- kleast temporarily.
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It is important to watch space movements. When Time is running out one way or the other, + j, N ^6 j, J& O8 m. _
space movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of
- F) e6 s* M6 o( k& s- @the last move from extreme low to extreme high, which indicates that the main trend has . S# g4 ?# q5 R) N' m
changed.8 k7 r4 U( Q1 f/ `
8 ^( G j5 x, c2 BStudy all the instructions and rules that I have given you; read them over several times, as % E0 T& ~$ l& C% Z0 V: R; E* u) p9 r* U
each time they will become clearer to you. Study the charts and work out the rules in actual
: w& u H4 r: L1 ]! Hpractice as well as on past performance. In this way, you will make progress and will realize
8 {; [) h: Z* [and appreciate the value of my Method of Forecasting.
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