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J M Hurst The Profit Magic of Stock Transaction_2

Tham khảo tài liệu 'j m hurst the profit magic of stock transaction_2', tài chính - ngân hàng, đầu tư chứng khoán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | í 1 30 Timing ỉs the Key It should be borne in mind that something vastly unusual is necessary for our purpose. Some of the conclusions reached will appear strange indeed to persons versed in the traditional approach to socio-economic world-of-finance type problems. Such readers are strongly urged to reserve judgment until the entire story is unfolded. The proof of the pudding is in the eating and you will find that the methods described work Ị WHAT MAKES PRICES CHANGE Decisions. Prices change because stock owners decide to buy or decide to sell at a I specific time. Which way prices move when buyer and seller face each other through exchange representatives depends on how strongly the buyer feels about buying in relation to how strongly the seller feels about selling. But decisions in themselves are effects not causes. Something causes an investor to decide to sell and at a particular time at that. The cause of decisions is motivation. If a stockholder decides to sell for no other reason than to raise money to remodel the house the motivation can be classed as random in nature. Millions of investors deciding to buy or sell for reasons unrelated to the current or possible future price of a stock cause price changes due to random motivation. The magnitude of all such randomly-motivated price motion amounts to no more than two l This statement is the first element of our price-motion model and will appear incredible to many. Accept it for the moment for it is a demonstrable fact. I And it is one you must keep firmly in mind as you trade and prices vary in an apparently random manner. M THE IMPACT OF HISTORICAL EVENTS One of the major misconceptions that must be dispelled is the conviction that large-scale historical events dominate market activity. From all sides we are continually Ị presented with this or that national or world event which is credited as the cause of current market behavior. In Chapter Nine it is shown that the facts just do not fit the conviction .