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1、TheProfitMagicOfSTOCKTRANSACTIONTIMINGJ.M.HURSTPRENTICE-HALL,INC.Pleasenotethatpage1to8,12&18areblankandnotmissingpagesI1.1:I!theProfitMagicofSTOCKTRANSACTIONTIMINGJ.M.Hurst11II1IIPRENTICE-HALL,INC.EnglewoodCliffs,N.J.ITheattentionoftheauthorwasfirstdrawntothestockmarketin1960.Since
2、thattime,hehas"runthegauntlet"ofconventionaltechniquesfromlong-terminvest-mentbasedonfundamentals,throughtechnicalandchartingmethods,today-trading.Afterearlydisillusioningexperiences,itwasonlynaturaltobringtobeartheback-groundofanalyticalexperienceusedtosolvesimilarproblemsinenginee
3、ring.Hebegantoaskhimself"why"stockpriceschange-anddosoinsuchabafflingmanner.Over20,000hoursofresearchfollowed,inthecourseofwhichtheprinciplesonwhichthisbookisbasedweredevelopedandtested.TheauthorwaseducatedatKansasState,Brown,andWashingtonUniversities-majoringinphysics.WorldWarIIand
4、theadventofradarresultedininterestandtraininginelectronicsandthetheoryofcommunications-whichwasofgreatvaluelaterasprice"signal"wasstudiedinthepresenceof"noise."A25-yearcareerinaerospaceengineeringfollowed,whichprovidedexperienceinelectronicsystemdesign,computerizedtechniquesforextra
5、ctinginformationfromtime-seriesinconnectionwithunderwatercommunications,andnumerousaspectsofspaceandmissilesystemsanalysis.Itwasherethatappreciationforthepowerandcapabilitiesofnumericalanalysisandlarge-scaledigitalcomputerswasdeveloped-backgroundthatcametofruitioninthequestforaratio
6、nalapproachtoinvesting.Today,Mr.Hurstspendsfull-timeatmarketresearch,convincedthatremarkablenewrewardsawaitthepatientworker.HowThisBookCanBoostYourprofitPerformanceCana$10,000investmentyield$1,000,000inayear?Infiveyears?Ifso,whatistheriskinvolved?Thesearethekindsofquestionstowhichth
7、isworkisaddressed.Suchfantasticresultsarepossibleinthestockmarket.Individualissuesfluctuatewidelyenoughandoftenenoughtopermitthisandmore.Techniquesarepresentedherethatputanaver-ageyieldoninvestedcapitalof10%permonthwellwithintherealmofpossibility.Compoundingprofitsatthisrate,suchayi
8、eldcanreturn$1,000,
