....."to invest or speculate successfully ,one must form an opinion as to what the next move of importance will be in a given stock…….
in order to speculate correctly one must have a definite basis of anticipation ,for instance ,analyze in your mind the effect marketwise, that a certain piece of news which has been made public may have in relation to the market,
try to anticipate the psychological effects of this particular news which has been made public may have in relation to the market.
Try to anticipate the psychological effect of this particular item in the mind of the public,
if you believe its likely to have a definite bullish or bearish effect marketwise don’t trust you opinion and back you judgment until the action of the market confirms your opinion because the effect marketwise may not be as pronounced as you are inclined to believe should be".................
No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore