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45 Years in Wall Street: A Review of the 1937 Panic and 1942 Panic, 1946 Bull Market with New Time Rules and Percentage Rules with Charts for Determining the Trend on Stocks
This is typical of the thousands of accurate predictions Gann made throughout hie life. “One of the most astonishing calculations made by Mr. Gann was during last summer (1909) when he predicted that September wheat would sell at $1.20. Thie meant that it must touch that figure before the end of the month of September.
At twelve o’clock, Chicago time, on September 30th (the last day) the option was selling below $1.08, and it looked as though hie prediction would not be fulfilled. Mr. Gann said, “If it does not touch $1.20 by the close of the market, it will prove that there is something wrong with my whole method of calculation. I do not care what the price is now, it must go there.” It is common history that September wheat surprised the whole country by selling at $1.20 and no higher in the very last hour of the trading, closing at that figure.
Forty-five years of actual trading experience and market research by Gann have been compiled into this book. He writes from practical application. not theory. Sometimes called the Guru of Wall Street, Gann was probably one of the most consistently accurate forecasters known. Some of his rules which he explains here: 9-Point Moves, Chert and Rules, Anniversary Dates, Market Action Proves the Rules, Future of Airline Stocks, Time Periods and 3-Day Chart with Rules.
Gann’s Note:
In 1910 at the request of friends I wrote a small booklet entitled “Speculation a Profitable Profession.” In this booklet I gave the rules that helped me to make a success in my personal trading.
January, 1923, I wrote, “Truth of the Stock Tape” to help those who were trying to help themselves in speculation and investment trading. This book was favorably received by the public and many proclaimed it my Masterpiece. The book fulfilled its mission as evidenced by letters from grateful readers. After predicting the great panic in 1929 there was a call for a new book to bring ”Truth of the Stock Tape” up to date. I answered that call in the early part of 1930 by writing “Wall Street Stock Selector” giving my readers the benefit of practical experience in which I developed new rules since 1923. In “Wall Street Stock Selector” I predicted the “Investors Panic,” and said that it would be the greatest panic the world had ever known. This prediction was fulfilled by the panic which ended in July, 1932, with some stocks declining to the lowest levels they had reached for the past 40 to 50 years.
A great advance followed the 1932 panic and my rules helped many people to make substantial profits. In 1935 satisfied readers asked me to write a new book. I responded to that call by writing my third book “New Stock Trend Detector” in the latter part of 1935, giving the benefit of my experience and new and practical rules which I had discovered.
Since 1935 many changes have taken place; the market passed through the panic of 1937 which was forecast by me. The decline ended in March, 1928, and a minor Bull Market followed to November 10, 1938. The second World War started September 1,1939, and the United States entered the war in December, 1941. After we were in the war a further liquidation in stocks occurred and final lows were reached April 28, 1942, when stocks sold below the low level of .1938 at the lowest levels since 1932.
From the lows in 1942 a prolonged advance followed which continued after the end of the Japanese War in August, 1945. 1946, May 29, stocks sold at the highest level they had reached since 1929. My rules and my forecast called the top of this advance and the sharp decline which followed to October 30, 1946, when final low was reached. Fourteen years have passed since writing my last book and I have gained more knowledge through actual market operations.
The world is upset and confused; investors and traders are puzzled over the business depression and the decline in the stock market. Many have written requesting me to write a new book. With the desire to help others I have written “45 Years in Wall Street” giving the benefit of my experience and my new discoveries to aid others in these difficult times. I am now in my 72nd year; fame would do me no good. I have more income than I can spend for my needs, therefore, my only object in writing this new book is to give to others the most valuable gift possible-KNOWLEDGE! If a few find the way to make safer investments my object will have been accomplished and satisfied readers will be my reward.
W. D. GANN. (July 2,1949)
| Author | William D.Gann |
| Pages | 169 |
| Published Date | 1949 |
Table of Contents:
- Is It More Difficult to Make Profits Now Than Before 1932?
- Why You Have Lost Money in Stocks and How to Make it Back
- Rules for Trading in Stocks
- 24 Never Failing Rules
- How to Select Independent Movers
- Buying one Stock and Selling Another Short
- Percentage of High and Low Prices
- Market Action Proves the Rules
- Present Position of Dow Jones 30 Industrial Averages
- Let the Market Tell its own Story
- Time Periods of Short Duration Correct Prices
- Liquidation after a Long Decline and a Short Rally in a Bear Market
- Final Liquidation in Great Bear Market
- Secondary Decline after September 8 High
- Secondary Rally
- Sharp Corrective Declines
- Final High in the Bull Market
- Secondary Rally in Bear Market
- Final Liquidation in the Bear Market
- End of Short Bull Market
- Sharp Decline and Clean Out
- War Moves
- Final Lows End of Bear Market
- Final Tops End of Bull Market
- Secondary Decline
- After Election. Sharp Quick Declines
- Time Periods for Important Swings on the Averages
- Dow Jones 30 Industrial Averages 3.Day Chart Moves
- 9-Point Swings Dow Jones 30 Industrial Averages
- 30-Point Moves
- Months when Extreme Highs and Lows were Recorded
- Monthly High and Low Prices Each Year
- Dow Jones 30 Industrial Averages Time Swings
- June Lows Comparison for Future Highs
- Anniversary Dates
- Important News Events
- Resistance Levels 128-130
- Resistance Levels 193-196
- Resistance Levels 158-163
- Volume of Stock Sales on New York Stock Exchange
- 15 Public Utility Averages
- Barron’s Air Transport Averages
- Stocks with Small Number of Shares
- Puts, Calls, Rights and Warrants on Stocks
- New Discoveries and Inventions
- Atomic Power
- Great Market Operators of the. Past
- Stocks Liquidated
- Can United States Afford Another War?
- The Government Cannot Prevent a Depression
- What Will Cause the Next Depression or Panic?
- Great Panic Coming-Future Trend of Stocks
- Outlook for 1950
- Preview of 1951-53
45 Years in Wall Street: A Review of the 1937 Panic and 1942 Panic, 1946 Bull Market with New Time Rules and Percentage Rules with Charts for Determining the Trend on Stocks By William Delbert Gann
