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Gambler
Chapter 1
Fundamentalist
Chapter 2
Chapter 3
Technician
Chapter 4
Chapter 5
Techno-Fund
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Time Magazine
Apendix
Cables
Charts
Disclaimer
The Start Of Another Crisis With My After Market Stocks
The Nicholas Darvas After Market Stocks Success Story (part 52)
The half million dollar news gave me enormous confidence. I had a very clear conception of how I had done it and I was also convinced I could repeat the feat again. I had no doubt that I had mastered my art. Working with my cables, I had developed a sort of sixth sense. I could "feel" my after market stocks. This was no different from the feeling that a musical expert develops. His ear will detect a flat note, which is inaudible to the ordinary listener.
I could almost tell what after market stocks would do. If after an eight point advance after market stocks dropped back four points, I did not become alarmed. I expected it to do just that. If after market stocks started to firm up, I could often predict the day its advance would start. It was a mysterious, unexplainable instinct, but there was no question in my mind that I possessed it. This filled me with a tremendous sense of power.
It is therefore not the slightest bit surprising that I slowly started to imagine I was a Napoleon of after market stocks. I felt I was about to march along a glittering road. I was not aware of any perils. I did not know that along the way a dangerous giant lay in wait. After all, I reasoned to myself rather smugly, how many people could do what I had done with after market stocks?
I decided to really get down to business. If I could make half a million, what was to stop me from making two, three or even five million from after market stocks? Although the margin requirement had recently been raised to 90 per cent, I was convinced that by using the $160,000 I had set aside from my BRUCE after market stocks, I could lay the basis of a new fortune. I intended to start serious day-to-day dealings on the spot - dealings that would make my previous buying and selling seem like very small potatoes.
The truth was that as my pocket had strengthened, my head had weakened. I became over-confident, and that is the most dangerous state of mind anyone can develop while dealing with after market stocks. It was not long before I received the bitter lesson that after market stocks always hands out to those who think they can carelessly master it.
After a few days in New York, I decided to establish closer contact with my after market stocks. Possessing what I thought was a foolproof system, I believed that if I moved nearer to the after market stocks market, nothing could stop me from making a fortune each day. As the scene of my future triumphs, I chose the uptown office of one of my brokers.
I was fascinated by my first visit to the office. The board room was large, with chairs placed in front of an ever-moving little machine, the stock-ticker. The atmosphere was exciting, filled with electricity. The people in the room, like hangers-on in Monte Carlo, were nervous, exalted. There was an air of action, bustle, and noise. Tickers ticking, typewriters pounding, telegraph machines clacking, clerks busily rushing around. From every direction I heard sentences like: "GOODYEAR doesn't look good to me." "I am getting out of ANACONDA." "The market is ripe for a reaction."
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