Behavior of Prices on Wall Street

Behavior of Prices on Wall Street is the definitive guide to the behavior of stock prices. There are inclinations or leanings in the behavior of the market. At certain predictable times it has a bias in the bullish direction; at other predictable times it has a downward bias. A knowledge of these inclinations is useful . in the timing  of purchase or sale of stock. A stock market bias results in a probability, not a certainty. For this reason, bias is not obvious. This book reports inclinations revealed by the simple but laborious act of consulting the record.

Author’s Introduction:

Wall Street has always been awash in available information. Much of that information cah be useful at times, but very little of it is considered useful all of the time. For more than twenty-five years I have found the information available in ”Behavior of Prices on Wall Street” useful all of the time. The dogeared condition of my personal copy bears mute testimony to the use I give it in dealing with the man·y questions about market action that come my way every day.

It demonstrates the tendency for the stock market to rise at certain definite times, as well as its predilection for exhibiting weakness at other definite times. In underscoring the fact that ·the market does not move randomly, it provides information that has proven of use to investors and speculators alike.

As the author points out, this is a picture book where a chart can reveal countless statistics. I like to think of it as a travelogue through market time, where the journey has potential for substantially eralarging one’s knowledge about the history of the stock market. Followers of Dow’s Theory and Elliott’s Theory will find data pertinent to their researches, while those who track the impact of Federal Reserve Board actions on the stock market will discover much to interest them.

Much of this data will help to sweep away erroneous and misleading myths about market behavior that actually have little or no basis in fact but which have become accepted as fact over the years. There are no suppositions made and where any bias is indicated, it is the bias of the market itself for doing certain things at certain times. In a world where there is almost too much information at hand, this continues to be a valuable source book.

Contents:

• Aim of this Book
• Significance
• Behavior in the Presidential Cycle
• Behavior through the year
• Behavior through the month
• Behavior through the week
• Behavior through the day
• Behavior through the seasons
• Behavior near holidays
• Behavior when news breaks
• Behavior after a move by the Federal Reserve
• Behavior near support or resistance
• Behavior relative to dividends
• Behavior as influenced by price
• Behavior in runs
• Behavior in patterns
• Behavior in M and W wave patterns
• Behavior in Time patterns
• Behavior in cycles
• Behavior in trends
• Behavior in Bull and Bear markets

Behavior of Prices on Wall Street By Arthur Merrill PDF