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In a message dated 97-08-08 10:22:46 EDT, lissen@xxxxxxxxxx (Lionel Issen)
writes:
<<
When discussing Gann's methods and history, let's deal with verifiable
facts. One of them is that Gann was not very wealthy when he died, another
is that he made his living selling courses.
>>
In a letter that I received from Mr. James C. Flanagan, Editor of "Past,
Present,
Futures" newsletter he states in reference to Mr. W. D. Gann;
"The legend revolves around his ability to pick exact turning points in
stocks and commodities without the use of "inside information". This brought
him acclaim as the "Guru of Wall Street", "Master Economic Forecaster" and
"Authority on Prediction of Securities". He forecasted the high in the Stock
Market in 1929 nine months in advance, and the "depression low" in 1932 six
months in advance. Another remarkable prediction was made during the summer
of 1909 when he stated that Sept. Wheat would sell at $1.20 a bushel. This
meant that it must touch that price before the end of the month in Sept. At
12:00 o'clock, Chicago time on Sept. 30 (the last trading day), the contract
was selling below $1.08 and it looked as though his prediction would not be
fulfilled. Mr. Gann said, "If it does not touch $1.20 by the close of the
market it will prove that there is something wrong with my whole method of
calculations. I do not care what the price is now, it must go there." It is
now a matter of record that Sept. Wheat surprised the whole country by
selling at $1.20 and no higher in the very last hour of trading, closing at
that level."
Mr. Flanagan refers to Gann's "Master Time Factor" that many searched for
within his materials, until it was published in 1983 in a book called "My
Story - A Search for W.D. Gann's Master Time Factor" by one calling himself
"the Seeker". It seems that Mr. Murrey has found this same 'factor'. I for
one am paying close attention to these discoveries and trying to incorporate
them in my strategies - I have a lot to learn.
According to Mr. Flanagan, there are 13 Master Time Factor Cycles which will
be completed by August 1997. The Great Cycles are the 60 & 90 day cycles and
will be joined with 14 other bearish cycles, which according to his
calculations, he does not believe the market can continue to advance after
Sept. 1997. He states further that,
"in the 210 year history of the N.Y. Stock Exchange, there has never been a
bull market top between October of the "7th" year and October of the "8th"
year." Vol. 8, No. 7 July 1997 'PAST PRESENT FUTURES' newsletter.
Is there a foreboding logic and truth to what we are hearing?
"That which has been is that which will be, And that which has been done
is that which will be done. So there is nothing new under the sun..."
Solomon
FOOD FOR THOUGHT !!!
Regards,
SRR/arr
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