Tidal Swings of the Stock Market

Tidal Swings of the Stock Market - Scribner Browne

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 edition. Excerpt: ... CHAPTER XI Some Practical Suggestions--What Helps Do Investors Need?--How to Use Them--Conclusion f I iHE preceding ten articles have covered, in condensed form, those factors which I be lieve to be of the greatest value to the investor in forming his judgment as to the broad tidal movements of stock prices. It remains to add some practical suggestions which may aid in summarizing the whole and in putting it into actual use. Only a part of that collection of facts and conclusions upon which the investor's judgment will be based can be reduced to graphic form, but those factors which can be represented in that way should be. There is no reason why the student should burden his memory with relationships which can be committed to a graph. Statistics in Graphic Form A graphic record of the following is highly desirable: The weekly range of some standard average of stock prices. Weekly volume of shares traded in on the New York Stock Exchange. Weekly range of a standard average of bond prices. The interest rate on prime commercial paper of about six months' maturity, at New York City. This may be recorded at the end of each week, as changes are usually gradual. Unfilled tonnage of United States Steel Corporation monthly, as given out by the company. All these may easily be combined on one large graph, which will then cover money, bonds, stocks and business conditions. As we have seen in previous articles, it is the interrelations among these four which shed perhaps the clearest light on the tidal swing of stocks. The necessary figures are easily obtained from various publications. The New York Sunday Times contains satisfactory averages and quotes commercial paper rates. Total sales of stocks for the week appear in the Monday edition.