By now I had been scared and beaten by the market enough to appreciate that I should not regard the stock market as a mysterious machine from which, if I were lucky, fortunes could be extracted like the jackpot in a slot machine. (Location 498)
Tags: orange
This experience did more than anything to convince me that the purely technical approach to the market was sound. It meant that if I studied price action and volume, discarding all other factors, I could get positive results. (Location 519)
In the same way, I decided that if a usually inactive stock suddenly became active I would consider this unusual, and if it also advanced in price I would buy it. (Location 529)
Tags: orange
As if attracted by a magnet, they had a defined upward or downward trend which, once established, tended to continue. (Location 550)
Tags: orange
They would oscillate fairly consistently between a low and a high point. The area which enclosed this up-and-down movement represented the box or frame. (Location 551)
Tags: orange
No bouncing, no movement, meant it was not a lively stock. And if it were not a lively stock I was not interested in it because that meant it would probably not rise dynamically. (Location 557)
Tags: orange
I had learned from experience that my most difficult problem was to discipline myself not to sell a rising stock too quickly. (Location 633)
Tags: orange
I knew that I had to adopt a cold, unemotional attitude toward stocks; that I must not fall in love with them when they rose and I must not get angry when they fell; that there are no such animals as good or bad stocks. There are only rising and falling stocks—and I should hold the rising ones and sell those that fall. (Location 658)
Tags: orange
As I only handled five to eight stocks at a time, I automatically separated them from the confusing, jungle-like movement of the hundreds of stocks which surrounded them. (Location 728)
Tags: orange
the inexplicable moves in my stocks usually coincided with some violent move in the general market. (Location 744)
Tags: orange
The main cycles like a bear or a bull market usually creep into the majority of them. (Location 762)
Tags: orange
Simultaneously, I tried to train my emotions. I worked it this way: Whenever I bought a stock, I wrote down my reason for doing so. I did the same when I sold it. Whenever a trade ended with a loss, I wrote down the reason I thought caused it. Then I tried not to repeat the same mistake. This is how one of my tables looked: (Location 771)
The conclusion was obvious: capital was flowing into these stocks, even in a bad market. (Location 867)
Tags: orange
saw that it is true that stocks are the slaves of earning power. Consequently, I decided that while there may be many reasons behind any stock movement, I would look only for one: improving earning power or anticipation of it. To do that, I would marry my technical approach to the fundamental one. I would select stocks on their technical action in the market, but I would only buy them when I could give improving earning power as my fundamental reason for doing so. (Location 869)
Tags: orange
As to the practical application, I decided to take a 20-year view. That did not mean I wanted to hold a stock for 20 years. Nothing was more contrary to my intentions. (Location 873)
Tags: orange
decided that was not for me. All a company report and balance sheet can tell you is the past and the present. They cannot tell the future. And it was for this I had to project my plans. I also humbly realized that that was only my attitude. I was looking for capital gain. A widow looking for dividend income had to think otherwise. (Location 904)
Tags: orange
This attitude was a preparation for what I suppose you could call high-territory trading. I looked for stocks that I thought could make new highs and I decided to give them my full attention when they had climbed on to the launching pad and were preparing to rocket (Location 908)
Tags: orange
But when I noticed this slow awakening, I began to sense the end of this baby-bear market—at least for certain stocks. (Location 938)
Tags: orange
In spite of the bad market, it rose from 17 until, in the first week of October, it established itself in the narrow box 24/27. (Location 955)
Tags: orange
The steady rise in price and the high volume indicated to me that there was a tremendous interest in this stock. (Location 957)
Tags: orange
The truth was that as my pocket had strengthened, my head had weakened. I became over-confident, and that is the most dangerous state of mind anyone can develop in the stock market. It was not long before I received the bitter lesson the market always hands out to those who think they can carelessly master it. (Location 1240)
Tags: orange
The plain fact was that I was reading too much, trying to do too much. That is why I rapidly reached the stage where I could read the figures on the stock market quotations but they no longer told me anything. (Location 1311)
Tags: orange
And that was that universal controls and thiokol were behaving well and I left them alone. I now realize I only did this because I was too busy to bother about them. (Location 1329)
Tags: orange
I took a careful look at the market, looking as usual for an actively traded, high-priced stock. (Location 1411)
Tags: orange
There was only one way to do this—to let their strength in the market be the judge. (Location 1447)
Tags: orange