Monday, June 9, 2014

The market is like a slowly revolving wheel.

The following is an excerpt from Studies in Tape Reading by Richard D. Wyckoff. I love its simplicity and truth:

"The market is like a slowly revolving wheel. Whether the wheel will continue to revolve in the same direction, stand still or reverse depends entirely upon the forces which come in contact with its hub and tread. Even when the contact is broken, and nothing remains to affect its course, the wheel retains a certain impulse from the most recent dominating force, and revolves until it comes to a standstill or is subjected to other influences."

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