Name: Truth of the Stock Tape
SKU: 148
Price: 15.22 USD
Availability: InStock

Description

Truth of the Stock Tape was written in 1923 to help those who were trying to help themselves in speculation and investment trading. Wall Street Stock Selector brings Truth of The Stock Tape up to date. It explains the 1928-1929-bull market and tells of the coming investor’s panic. This book leads into the book listed above, the New Stock Trend Detector, being written six years previous. If you are a stock or commodity trader, you need a Wall Street education and this book will give you more real, timeless, market knowledge than most sources available today.

Introductions:

Tape reading is a study of fluctuations of stocks as they appear on the stock tape and the ability to judge the ones that are in a strong or weak position and determine the psychological moment to buy or sell. We must also be able to determine the stocks that are inactive and show no definite trend.

Tape reading is psychological because the mind acts and is influenced by everything it sees, hears, smells, tastes or feels. In reading the tape, we are not influenced alone by what we see, but by what we feel or sense, which cannot always be explained or a satisfactory reason given because it is “intuition.”

What is intuition? You often hear traders say “I am buying or selling this stock on my intuition. The best defini-tion I can give of intuition is that it is instantaneous reasoning. It is that something which tells us when we are right or wrong before we have time to reason it out. The way to benefit through intuition is to act immediately, and not stop to reason or ask why. That is what a good tape reader does.

The tape registers the dominating force currents from business all over the country. It contains the condensed opinion of the majority and weighs the hopes and fears of manipulators, the public, and business men. That is why it is a reliable guide and business barometer, if you know how to read it correctly. And here is where the “rub” comes. The tape tells the truth, if you can interpret it correctly.

Tape reading requires a strong will power and a mind that, when it once sees the trend of the market, cannot be changed until the tape shows the change and is not influenced by news, false rumors, tips, or hearsay. Being able to read the tape correctly and act on your judgment is an entirely different proposition, which I will explain later on.