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

At long as a stock is acting right, and the market is right, do not be in a hurry to take profits. One should never permit speculative ventures to run into investments.

The market always does what it should do, but not always when

It is what people actually did in the stock market that counted - not what they said they were going to do.

For instance, let us say that a new stock has been listed in the last two or three years and its high was 20, or any other figure, and that such a price was made two or three years ago. If something favorable happens in connection with the company, and the stock starts upward, usually it is safe play to buy the minute it touches a brand new high.

Speculation is a hard and trying business, and a speculator must be on the job all the time or he'll soon have no job to be on.

Men who can both be right and sit tight are uncommon.