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Gann was
not a tipster |
Mr.
Gann was no "Wall Street tipster" sending out
market letters and so-called "inside
information". Mr. Gann's results were obtained by
profound study of supply and demand, a mathematical
chart of money, business and commodities. He determined
when certain cycles were due, and the order and the time
when market movements will follow.
During
the past thirty years many men have proclaimed
discoveries and theories to "beat the Wall Street
game", most of which resulted in loss to their
followers. They could always tell by the chart just why
the market did it after it happened. Mr. Gann's theory
differs from the others in that he told months in
advance what stocks were going to do.
His
forecast stated that some stocks would make high this
year in April, some in August and others in October -
the month he predicted the bull movement would
culminate. Of a list of a hundred stocks; thirty made
highest prices in April and many declined, while others
continued higher; twenty made high during August, and
fifty made high of the year in October, from which the
largest decline of the year has taken place.
His
1922 forecast indicated final tops on railroad stocks
for August 14. The Dow Jones' averages on rails made
high August 21 and reached the samve average levels on
September 11 and October 16, but did not exceed the high
made in August, which was made seven days later than the
exact date called for in the forecast. |
