| An SI Board Since October 2000 |
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Richard Wyckoff was an early pioneer in technical analysis. He began his Wall Street career barely out of adolescence as a "runner" before the turn of the 20th century. He rose through the ranks and eventually published a popular subscription-based newsletter from 1910 until the late 1920s when failing health forced him to give up this task to others.
After years of observing stock price behavior and the people most responsible for their up and down movements, Wyckoff became convinced that most price movements are largely based on the buying and selling decisions by major operators. The movers and shakers of his day were mostly wealthy individuals who were able to accumulate large blocks of shares at low prices with the intention of selling them to the public at much higher prices.
Today's major operators aren't wealthy individuals. Although wealthy speculators still play a role,the control of wealth, or capital, resides in institutions such as mutual funds, insurance companies, banks, and pension funds.
Wyckoff came to the conclusion that stock price movement is largely a function of supply and demand. Through his use of charts, daily readings of the stock ticker, and examinations of daily stock tables from newspapers, Wyckoff grew skilled at determining when major operators were about to conduct major campaigns.
It is the purpose of this forum to inform investors as to how these campaigns operate so that they may take advantage of them in the short, intermediate, and long-term--both long and short.
"Listen to what the market is saying about others, not what others are saying about the market." --Richard Wyckoff
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