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Strategies & Market Trends : Gann's cycles -- Ignore unavailable to you. Want to Upgrade?

To: High Grader who wrote (19)	12/8/1998 3:37:00 PM
From: mulligan	Read Replies (2) \| Respond to of 191

I read Gann's "Truth of the Stock Tape". Good book (but expensive $49), it covered basic trading techniques and methods. He wrote about why people buy and sell and how the insiders influence the movement and prices of stocks. Why accumulation and distribution takes place and why there are wild swings in prices. Dated references and examples because it was written in 1923, but a lot of his basic advice is just as valid today as it was then. One of his examples was "Mexican Pete". It took me awhile to figure out that he was talking about Mexicanos de Petroleos, the oil company. And I still haven't figured out what he meant by "cuts a melon". A few times he made a vague reference to a secret method he discovered that predicted the tops and bottoms of markets. The end of the book was devoted to promoting his newsletter that made predictions based on his secret method. That aside I still thought it was a pretty good book. I'll buy another one of his books when I can save up enough quarters <g>.