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  1. When Does a Stock Act Right?

    WHEN DOES A STOCK ACT RIGHT?

    Stocks, like individuals, have character and personality. Some are high-strung, nervous, and jumpy: others are forthright, direct, logical. One comes to know and respect individual securities. Their action is predictable under varying sets of conditions.

    Markets never stand still. They are very dull at …

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  2. Explanatory Rules

    EXPLANATORY RULES

    1. Record prices in Upward Trend Column in black ink.

    2. Record prices in Downward Trend column in red ink.

    3. Record prices in the other four columns in pencil.

    4. Draw lines as follows:

      • Draw red lines under your last recorded price in the Upward Trend column the first day you …

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  3. Follow the Leaders

    FOLLOW THE LEADERS

    There is always the temptation in the stock market, after a period of success, to become careless or excessively ambitious. Then it requires sound common sense and clear thinking to keep what you have. But it is not necessary to lose your money, once you have acquired …

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  4. How to trade in Stocks

    This is the text of Livermore’s book “How to trade in Stocks.” I found a very badly OCR’d version on the Interweb, and spend a few hours reading and correcting the text. It probably still has the odd typo, but it’s in a lot better shape now …

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  5. Money in the Hand

    MONEY IN THE HAND

    When you are handling surplus income do not delegate the task to anyone. whether you are dealing In millions or in thousands the same principal lesson applies. It is your money. It will remain with you just so long as you guard it. Faulty speculation is …

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  6. Preface

    PREFACE

    Even though more than a quarter-century has gone by since his death-by-suicide in 1940, .Jesse Livermore frequently comes to “live” today in conversations occurring in the board-rooms and the back-offices located along that man-made — and fascinating — canyon known as “Wall Street.”

    This is quite understandable; for of all the …

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  7. The Livermore Market Key

    THE LIVERMORE MARKET KEY

    MANY years of my life had been devoted to speculation before it dawned upon me that nothing new was happening in the stock market, that price movements were simply being repeated, that while there was variation in different stocks the general price pattern was the same …

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  8. The Million Dollar Blunder

    THE MILLION DOLLAR BLUNDER

    It is my purpose in these chapters to lay down some general trading principles. Later on there will be specific explanation of my formula for combining time element and price.

    In consideration of these general trading principles it should be said that too many speculators buy …

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  9. The Pivotal Point

    THE PIVOTAL POINT

    WHENEVER I have had the patience to wait for the market to arrive at what I call a “Pivotal Point” before I started to trade, I have always made money in my operations.

    Why?

    Because I then commenced my play just at the psychological time at the …

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