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sold at 88-3/4 and the July option declined to 91½ and the December option to $1.
This was a drastic decline and a final liquidation when the open interest dropped to the lowest level for many years.
At this writing the indications are that Rye is low enough for at least a rally. You will note that the low in May came down to the old top level of March 1943, and there was a series of tops around 87¢ to 90¢. However, for trading in the future in 1954 and 1955, you should keep up the July and December options and then when the May option starts for 1955, keep up the daily and weekly high and low chart and you will be able to determine the trend on Rye and make large profits trading in it.
Follow all the rules in SPECULATION A PROFITABLE PROFESSION, as well
as read carefully all the rules on Rye in my book, HOW TO MAKE PROFITS TRADING IN COMMODITIES. If you do this and study and place STOP LOSS orders for protection, and trade only definite indications, you can make substantial profits trading in Rye Futures.
MAY SOY BEAN SWINGS OF 10¢ PER BUSHEL OR MORE FROM
OCTOBER 16, 1950 TO MAY 1954.
The reason that we have shown the swings on this chart, starting October 16, 1950, is because that was the low after a sharp decline from the big advance in August after the Korean war started. You can see that from October 16, 1950, low 232½ the advance was rapid until February 8, 1951, high 344¼ when the Government placed a ceiling on Beans at 333. I have marked "B" for buying levels on the chart and "S" for selling levels.
In 1951 when the Government placed a ceiling on Soy Beans at 333, if you had a chart on November Beans you could see that it indicated top and you would go short of the November option.
1951, July 9 – May Soy Beans declined to 268-3/4 and the main trend turned up again and advanced to December 10, 1951, high 314.
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1952, February 27 and April 21, lows at 381 and 328; this was a buying level as indicated and the price advanced to 311 May 21, 1952. This was a selling level against the top of December 1951; however, the May option expired and you would, of course, wait for the new option which started July 24, 1952 at 291. The trend turned up and it advanced to 314. August 14 it declined to 306; August 26
made double top and September 3 at 314 which was a selling level with a STOP at 316. The main trend continued down until February 13, 1953, low 280, around the same lows as April 1952, a buying level. There was a rapid advance to April 16, high 309, which was the last high and the option declined to 296½ and expired.
1953, July 25; the new option opened at 256 and advanced to 259½. You would sell it short when it broke 256 because it was below all previous bottoms and indicated lower. The price declined to August 20 low of 239½. This was a buying level as indicated by the weekly and daily charts. The market advanced to 263 on September 3, reacted to 248-3/4 September 16. You will note that I have marked "B", the buying levels all the way up on this chart and that bottoms were higher and tops were higher showing the main trend up.
1954, January 22, high 317½. This was above all of the tops at 314, 311, and 309, a definite indication that prices were going very much higher. February 2, when a reaction came to 309¼, which was down to the old top levels, you would buy.
When it crossed 317 buy more, and continue to buy all the way up. When it crossed 345 you would buy more. March 4, high 359-3/4, March 8, low 343½, just back to the old top level of February 8, 1951 and a buying level. Protect with STOP LOSS order at 342. The advance continued making higher bottoms and higher tops and you would buy every time it advanced to new high levels until April 27, 1954, extreme high 422. April 28, low 406½; April 29, high 417½, a lower top and a selling level; however, there was definite indication for weakness and selling when it broke to 406.
1954, May 12; May Beans declined to 372, a decline of 50¢ per bushel since April 27. The July option made high on April 27 at 415 and sold at 368-1/8 on May 12, 1954, down 47¢ per bushel. The writer sold July Beans short at 412 on April 30, and sold more at 400½; sold again at 396 and at 390½ because prices were breaking the previous low levels and indicated a definite down trend. We covered shorts at 370 on May 12 because our daily high and low chart and hourly high and
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low chart indicated that the market was making bottom for a one to two day rally.
You should keep up a daily high and low chart and a weekly chart on May, July and November Soy Beans and if you trade according to the rules you can make a vast amount of money. Soy Beans is really the “millionaire money maker” but remember that if you buck the trend on Soy Beans, it can break a millionaire; therefore, use STOP LOSS orders every time you make a trade and LIMIT YOUR RISK and do not OVERTRADE and you can make enormous profits trading in Soy Beans.
WHEAT
You always need to know the record of prices for a long period of time on Wheat as well as anything else. 1852 Wheat low 28¢ per bushel; 1867 high $3 per bushel; 1877 high 176; 1888 high 165; 1898 high 185, 1905 high 122, 1909 high 135; 1912 high 119, 1915 high 167.
1914, June low 84¢ per bushel. This was just before the war started; when it crossed 119 and 122 you would buy and expect the next important resistance level to be the old high of 165.
1915, September high 167. Did not go 3¢ above 165 making this a SELLING LEVEL with a STOP at 168.
1916, when May Wheat advanced above 167 you would FOLLOW the RULES
and BUY AT NEW HIGH LEVELS and then watch the next old high at 185.
When this was crossed you would BUY MORE AT NEW HIGHS because it had
been so long since 185 was made back in 1898 and so much time had elapsed you would expect very much higher prices, especially in a war market.
The next old high was $3 a bushel, the extreme in 1867; when this was crossed the next high had to be shown by a change in trend because there was no other high to use as a guide.
1917, May 11 high 325. The Government stopped trading and Futures Trading was not resumed until 1920. This is the May option that we refer to and from this time on we will refer to the May option and give trading indications on the May option.
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In 1920, from that time on you could see what old lows were broken and when prices declined below old top levels and old low levels showing the main trend as down and you would continue to sell. Refer to chart on Wheat 1914 to 1954. Note 1921 to 1924 lows of 105, 104, and 101; the last low, 101, was made in March 1924, a buying level with STOP at 99.
The next tops were 127, 150 and 181; when these highs were exceeded you would follow the rules and buy at new highs.
1925, January high 205-7/8; from this high the trend turned down and you can see by the chart that TOPS were LOWER and BOTTOMS were LOWER indicating DOWN TREND. Here you would follow all the rules and SELL SHORT.
1928, April last high 171; you would sell more when 116, 112, 93 and 84 were broken. 84 was the low of June 1914, and declining below this level indicated much lower prices.
1932, December; final low 43-3/8 for the May option. This was the lowest that May Futures ever sold and the lowest since January 1895 when the last low was 49¢ per bushel.
After the low in December 1932 you would look up the last old highs and watch them. These were 62, 73, 130, 135, 150, 164, 171, 181, 185 and 205-7/8.
In 1933, when the main trend had turned up, you would buy when the prices crossed 62, 73, and watch 130, the last old high in February 1929.
1933, July, May Wheat made a high of 128, just below 130, making this a SELLING LEVEL.
1939, September. Hitler started the war and war is always bullish on Wheat and you should always buy when war starts. May Wheat was selling around 62½ in August 1939, the old top level of May 1932, making this a BUYING LEVEL protected, of course, with STOP around 60. You would buy when prices advanced above the previous highs, 86, 117, 128, 164, 171, 185 and 205-7/8.
Note 1937 high 145 and September 1944 last low 144 – you would buy here because it was at the OLD TOP LEVEL and place a STOP 3¢ below.
1944 and 1945. The Government put ceilings on Wheat and these ceilings were not removed until 1946.
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1946, September May Wheat last low 180. When it advanced above 185 you would buy more at new high levels and then when it crossed 205-7/8 the high of 1925, you would follow the rule and BUY AT NEW HIGH LEVELS and watch 300 to 325, the highest Futures had ever sold for resistance levels.
1947, November and January 1948, May Wheat high 306-7/8. Study the weekly and daily chart at the time these highs are made and you will see how the TREND TURNED DOWN and it was time to sell out all long Wheat and sell short.
The first decline after the high in January 1948 was very rapid and in less than one month’s time it declined to 229 in February 1948, then rallied to 252 and in February 1949 declined to 196½. You can see by the chart July 1949 low was 191- 3/4 and after this the trend turned up and made higher bottoms and higher tops.
1951, February high 261 made the next low at 235.
December high 265½, this was final high of this upswing. You would sell short and sell more on the way down after prices declined below 235.
1953, August low 186-3/4; from this level the minor trend turned up and in March 1954 the high was 231, failing to advance to 235 the low of May 1951, indicating weakness and lower prices. The trend turned down and on May 12, 1954 May Wheat declined to 195¼ and July Wheat to 189½, and at this writing the main trend is still down.
Follow all the rules in this course of instruction, SPECULATION A
PROFITABLE PROFESSION and the rules in my book HOW TO MAKE PROFITS TRADING IN COMMODITIES. Never decide that you know it all.
Continue to keep up charts and study and you will make speculation a profitable profession.
I have never thought that I had learned all there was to learn and have made some of my greatest discoveries after I was 75 years old, having perfected my Master Charts Nos. 9 and 12, my 3-Dimension Chart proving the relation between price,
time and volume which shows velocity or speed and trend. Also discovered new Master Time Charts.
I have spent over $20,000.00 since my 75th birthday making researches and preparing trends for the future.
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Learn to work hard and study. The more you study the greater your success will be. KNOWLEDGE IS THE GREATEST THING YOU CAN HAVE. It is better than money in the bank. You can never lose KNOWLEDGE and no one can STEAL it from YOU; therefore, get all the KNOWLEDGE YOU possibly can.
CONCLUSION
I have written this course of instructions, SPECULATION A PROFITABLE
PROFESSION to help others make a success trading in Commodities. There is no greater pleasure in life than rendering good service to others. The Bible tells us that a man should not hide his candle under a bushel; I believe in passing on my secret discoveries to help others and have always found greater happiness and made greater success by helping others.
“He who has the truth and keeps it,
Keeps what not to him belongs;
Keeps a pearl from him who needs it,
And a fellow mortal wrongs.”
(Anon.)
[undated, but likely circa May 1954] [unsigned]
以下是几张行情的图片
第一章结束
