Lesson 1 - Introduction: Forecasting in the Grand Tradition of W.D. Gann
1.2 - The Challenge to Us as Investor's and Speculators
The first challenge for the investor or speculator
is quantifying what is low and what is high. The second is having the
emotional makeup to buy on weakness when everything looks grim and sell
on strength when everything looks rosy.
When the legendary Green Bay Packers coach Vince Lombardi gathered
his professional football players in the first pre-season meeting,
he started his instruction by saying, “This is a football.” Indulge me while I do the same by making this statement: “The place to buy for the greatest return possible is at the bottom of a bear market after the trend has turned up and at the bottom of periodic major corrections during a bull market.” The reverse is true when selling short: “The
place to sell for the greatest return possible is at the top of a bull
market after the trend has turned down and at the top of periodic major
corrections during a bear market.”
go to section 1.3
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