Be Careful Where You Get Your Futuremarket Information From
This experience did more than anything to convince me that the purely technical approach to the market was sound. It meant that if I studied futuremarket information like price action and volume, discarding all other factors, I could get positive results. I now began to try to work from this point of view. I concentrated on a close study of futuremarket information like price and volume and tried to ignore all rumors, tips or fundamental futuremarket information. I decided not to concern myself with the reasons behind a rise. I figured that if some fundamental change for the better takes place in the life of a company, this soon shows up in the rising price and volume of its future, because many people are anxious to buy it. If I could train my eyes to spot this upward change in its early stages, as in the case of M & M WOOD WORKING, I could participate in the future’s rise without any futuremarket information.