说明:
( v& d- I5 b7 q, G& a+ w. A( I1.首发。转载请注明出处——阳光飞狐/江恩理论;当然还有译者。谢谢!# O0 ^" A y: n7 d, E; h3 T
2.译文乃初稿,未校稿,仅供参考!
& Z+ _1 m8 _; }1 y- d: R" q0 k-----------------------------------------------------------------------------------------------
4 [3 h! c! X: z0 u8 i( @1 \4 l原文:2 ^; u% o* ~! y
IMPORTANT POINTS TO REMEMBER IN FORECASTING0 ~9 g. L5 R. M l( t/ _
; S4 }; ^2 X) I, a% C9 ?$ bTIME is the most important factor of all, and not until sufficient time has expired does any
3 Q- d2 H! z% [big move up or down, start. The Time factor will overbalance both Space and Volume. 4 L# @/ b/ I5 V0 S# ?
When Time is up, space movement will start and big volume will begin, either up or down.
8 V0 y! k9 c0 f; K9 N1 KAt the end of any big movement – with monthly, weekly, or daily – Time, must be allowed
3 V5 u* ~! K9 U! j" i- l0 Dfor accumulation or distribution.1 @8 U5 X, W5 B+ O7 N4 Q
7 W3 V' M4 y! u) v% Z5 y3 MConsider each individual stock and determine its trend from its position, according to distance
9 W& ]" a, u. ]* b3 pin time from bottom or top. Each stock works out its 1, 2, 3, 5, 7, 10, 15, 20, 30, 50 and 60-
/ P& n; K1 ?& a% X( f! Wyear cycles from its own base or bottoms and tops, regardless of the movements of other
2 G, X, p6 E/ B6 astocks, even those in the same group. Therefore, judge each stock individually and keep up 2 x1 W5 `& ?7 q$ ~0 g
weekly and monthly charts on them.
# i8 `& ?1 B# N6 k9 P8 h+ \* y p+ |2 c( q) ~+ ]
Never decide that the main trend has changed one way or the other without consulting the " d9 z8 B7 o/ ?2 @9 \
angles from top or bottom and without considering the position of the market and cycle of & g* Z1 S7 E! t; L6 b
each individual stock./ u3 X" @1 Z# }# u" a, o9 O
' m$ E% v- z l/ H9 Q6 b* ^+ g
Always consider the annual forecast and whether the big time limit has run out or not before 0 f! @6 R8 S' S+ V5 G# [
judging a reverse move. Do not fail to consider the indications on Time, both from main tops
1 t l) f! P% Q- G4 J3 Tand bottoms, also Volume of Sales and position on Geometrical Angles. O5 d) J) N# ~. |$ Z
3 z. \3 m4 ~( ? Z; l& V+ \A daily chart gives the first short change, which may run for 7 to 10 days; the Weekly Chart " C( W- ?9 N5 r: P* n% A
gives the next important change in trend; and the Monthly the strongest. Remember, weekly6 S0 E" W+ m& {
moves run 3 to 7 weeks, monthly moves 2 to 3 months or more, according to the yearly cycle, 0 r% T A$ w1 Z- \/ Y
before reversing.0 A2 i8 Z R% a0 L- s
5 Q% q8 S7 C! q% R- N
Yearly bottoms and tops: it is important to know whether a stock is making higher or lower
; [0 E- s+ R6 J8 Y8 C% qbottoms each year. For instance, if a stock has made a higher bottom each year for five years, 1 w0 F5 k4 z, P q2 L$ X( k7 H6 T2 E
then makes a lower bottom than the previous year, it is a sign of reversal and may mark a long
2 w& ]; }! b7 f9 p# Z, F6 Z9 Ldown cycle. The same rule applies when stocks are making lower tops for a number of years 5 n" `2 c" J2 O% U
in a bear market.
- U9 |% j/ c+ V& v* O* }' m. x% `8 w! X8 q; D9 K
When extreme advances or declines occur, the first time the market reverses over 1/4 to 1/2 of $ G! m6 a2 G( L1 w# O
the distance covered in the previous movement, you consider that the trend has changed, at * b7 @: H) _2 ]% G; q
least temporarily., w/ k3 X* i; ]& P1 F& I( r2 |
2 r9 x! Z' X2 N+ l0 c9 T
It is important to watch space movements. When Time is running out one way or the other, 9 {# E3 Z$ C$ [$ x
space movements will show a reversal by breaking back over 1/4, 1/3 or 1/2 of the distance of
/ x/ h3 q: K9 V0 wthe last move from extreme low to extreme high, which indicates that the main trend has
3 ~; X9 f. X; ~ Achanged.
7 p: i$ c8 g0 u3 f' q$ |
" @4 }: _9 j% ~3 K3 t& V% M3 X) N! cStudy all the instructions and rules that I have given you; read them over several times, as 3 N9 t2 g8 o* d, u
each time they will become clearer to you. Study the charts and work out the rules in actual , h* b! G0 @) e( l! S1 E* E3 P
practice as well as on past performance. In this way, you will make progress and will realize
7 i, @0 t# s0 R) ?( i% U9 ~and appreciate the value of my Method of Forecasting.9 n9 ^+ d3 g4 J) c4 { i& D
-------------------------------------------------------------------------------------------------- |