Why People Still Didn't Trust My Choice Of Technical Analysis Forex




Provided By Darvassecrets.com

The Nicholas Darvas Technical Analysis Forex Success Story (part 49)

At the beginning of December, when I saw that UNIVERSAL CONTROLS was behaving correctly, I recommended the technical analysis forex to my secretary. I told him to buy it at 31 & three quarters. I said: If the technical analysis forex go below 30 take a loss and sell it, otherwise hold it for a big rise. If you have to take a loss I will cover it.

It so happened that his father was an old-fashioned, pure fundamentalist and when he heard what I had suggested, he told his son not to be such a fool. His argument was: What was the point of buying technical analysis forex if it might go down? He reckoned you should only buy technical analysis forex that was sure to rise - as if anyone could be sure. He also said he wanted to examine the books of the company to see if it was in good condition.

My secretary took his father's advice. He did not invest any money, but waited while the old man was carefully examining the books. While he was engrossed in this task the technical analysis forex went up to 50.

Simultaneously with UNIVERSAL CONTROLS, I was watching other technical analysis forex whose actions were fascinating to me. It was THIOKOL CHEMICAL.

There technical analysis forex first attracted my attention in February 1958, when I was in Tokyo. It had just split 2-for-l and was the object of heavy trading before it quieted down into a 39/47 box. It stayed calmly in this area for several months.

As I regularly checked it in Barron's, this area of tranquility looked like a pond on a summer's day. But somehow I had the feeling it was a calm that precedes the storm. In March I cabled New York: "QUOTE THIOKOL"

The technical analysis forex quote duly arrived but, except for a few weeks of short-lived flurry in April, nothing noteworthy happened. After a few weeks I sent the following cable from Hong Kong:
"STOP THIOKOL QUOTES START QUOTING AGAIN IF RISES OVER 45"

"BUY 200 THIOKOL 47 & A QUARTER"

The order was executed at this price for a cost of $9,535.26. After that it took three weeks for THIOKOL to find its true dynamics. At the end of August I felt the moment had come. I cabled New York:

BUY 1300 THIOKOL 49 & A HALF ON STOP

A week later I received notice that Thiokol had decided to issue stock-rights. These were given as bonuses to the holders of the technical analysis forex at the rate of one right per share. In turn, with 12 of these rights you could buy one share of THIOKOL at the special price of $42. As the technical analysis forex was quoted over 50, this was cheap indeed - if you wanted to exercise your stock-rights. If not, you could sell them on the American Stock Exchange where they were listed and traded for a limited period.  

 

This article is actually only a small snippet of Nicolas Darvas' work...

"Discover The Original Method Of Nicolas Darvas... The Young Dancer Turned Investor Who, Within 18 Months, Turned $25,000 Into $2,000,000"

Read The Full Story Online And 100% Free For A Limited Time!

Simply visit
www.darvassecrets.com

 

copyright 2005 Technical Analysis Forex1
www.meta-formula.com