The Stock Market Barometer

Cosimo, Inc., 2005 M04 1 - 372 páginas
One of the most reliable stock market predictors is Dow's Theory, developed by Charles H. Dow, the founder of The Wall Street Journal. That theory, which makes sense of the fluctuations of the Dow-Jones Industrial Average, is clearly and simply explained in The Stock Market Barometer by W.P. Hamilton. As Hamilton wrote, "The Dow-Jones average is still standard, although it has been extensively imitated. There have been various ways of reading it; but nothing has stood the test which has been applied to Dow's theory." Besides providing this valuable explanation for anyone wishing to understand the rise and fall of stocks, Hamilton analyzes the history of the stock market since 1897.WILLIAM PETER HAMILTON was an editor of The Wall Street Journal and also wrote for Barron's. He worked closely with Charles H. Dow, founder of the Journal, the Dow Jones Industrial Average, and the Dow Jones financial news service.

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Página 2 - There is the moral of all human tales ; 'Tis but the same rehearsal of the past, First Freedom, and then Glory — when that fails Wealth, vice, corruption — barbarism at last. And History, with all her volumes vast, Hath but one page...
Página 165 - The mountains look on Marathon — And Marathon looks on the sea; And, musing there an hour alone, I dreamed that Greece might still be free; For, standing on the Persians' grave, I could not deem myself a slave.
Página 154 - Are baubles nothing worth, that only serve To rouse us up, as children in the schools Are roused up to exertion. The reward Is in the race we run, not in the prize...
Página 65 - ... such values as exist or which are expected to exist in the not too remote future. The thought with great operators is not whether a price can be advanced, but whether the value of property which they propose to...
Página 10 - ... people who only feel is, to those who think, overwhelming. The former are in such a majority that concession must be made to them, although I still decline to apologize for the stock market. I should as soon think of apologizing for the meridian of Greenwich. To quote one of the best known of Grover Cleveland's useful platitudes, it is a condition and not a theory which confronts us.
Página 30 - The market is always to be considered as having three movements, all going on at the same time. The first is the narrow movement from day to day. The second is the short swing, running from two weeks to a month or more; the third is the main movement, covering at least four years in its duration.
Página 4 - Dow-Jones news service for thirty years or more. There is a method of reading them which has been fruitful of results, although the reading has on occasion displeased both the optimist and the pessimist. A barometer predicts bad weather, without a present cloud in the sky. It is useless to take an axe to it merely because a flood of rain will destroy the crop of cabbages in poor Mrs. Brown's backyard. It has been my lot to discuss these averages in print for many years past, on the tested theory...
Página 25 - There was a near approach to a crisis in 1819 as the result of a tremendous contraction of bank circulation. The previous increase of bank issues had prompted speculation, the contraction caused a serious fall in the prices of commodities and real estate. This, however, was purely a money panic as far as its causes were concerned. "The European crisis in 1825 caused a diminished demand for American products and led to lower prices and some money stringency in 1826. The situation, however, did not...
Página 36 - Another method is what is called the theory of double tops. Records of trading show that in many cases when a stock reaches top it will have a moderate decline and then go back again to near the highest figures. If after such a move, the price again recedes, it is liable to decline some distance.
Página 269 - If people with either large or small capital would look upon trading in stocks as an attempt to get 12 per cent. per annum on their money instead of 50 per cent. weekly, they would come out a good deal better in the long run. Everybody knows this in its application to his private business, but the man who is prudent and careful in carrying on a store, a factory or a real estate business seems to think that totally different methods should be employed in dealing in stocks. Nothing is further from...

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WILLIAM PETER HAMILTON was an editor of The Wall Street Journal and also wrote for Barron's. He worked closely with Charles H. Dow, founder of the Journal, the Dow Jones Industrial Average, and the Dow Jones financial news service.

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