A prudent speculator never argues with the tape. Markets are never wrong, opinions often are.

Trends come like a series of ocean waves, bringing the high tide when things are good and, as conditions recede, the low tide appears. These trends come unexpectedly, unpredictably, and they have to be weathered with temperance, poise, and patience- good or bad.

It never was my thinking that made the big money for me. It always was my sitting.

When everyone thinks alike, there isn't much thinking taking place. Get out when you can, not when you have to.

It took me five years to learn to play the game intelligently enough to make big money when I was right.

I was utterly free of speculative prejudices. The bear side doesn't appeal to me any more than the bull side, or vice versa. My one steadfast prejudice is against being wrong.

The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you can familiarize yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements.