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45 Years in Wall Street
Arguably Gann's best book, 45 Years in Wall Street outlines Gann's 24 rules for trading. These rules are base on his extensive experience, and his extensive analysis of market statistics. The book contains a wealth of practical trading advice on both the stock and commodities traders.
45 years in Wall Street was written in 1949.
Contents
- Is It More Difficult to Make Profits Now Than Before 1932?
Why You Have Lost Money in Stocks and How to Make it Back
- Rules for Trading in Stocks
24 Never Failing Rules
- How to Select Independent Movers
Buying One Stock and Selling Another Short
- Percentages of High and Low Prices
Present Position of Dow Jones 30 Industrial Averages
Let the Market Tell its own Story
- Time Periods of Short Duration Correct Prices
Liquidation After a Long Decline and a Short Rally in a Bear Market
Final Liquidation in Great Bear Market
Secondary Decline After September 8 High
Secondary Rally
Sharp Corrective Declines
Final High in a Bull Market
Secondary Rally in Bear Market
Final Liquidation in the Bear Market
End of a Short Bull Market
Sharp Decline and Clean Out
War Moves
Final Lows End of Bear Market
Final Tops End of Bull Market
Secondary Decline
After Election, Sharp Quick Declines
- Time Periods of Important Swings on the Averages
- Dow Jones 30 Industrial Averages 3-Day Chart Moves
9-Point Swings Dow Jones 30 Industrial Averages
30-Point Moves
- Months when Extreme Highs and Lows were Recorded
Monthly High and Low Prices Each Year
Dow Jones 30 Industrial Average Time Swings
- June Lows Comparison for Future Highs
Anniversary Dates
Important News Events
Resistance Levels 128-130
Resistance Levels 193-196
Resistance Levels 158-163
- Volume of Stock Sales on New York Stock Exchange
- 15 Public Utility Averages
Barron's Air Transport Averages
Stocks with Smaller Numbers of Shares
- Puts, Calls, Rights and Warrants on Stocks
- New Discoveries and Inventions
Atomic Power
- Great Market Operators of the Past
- Stocks Liquidated
- Can United States Afford Another War?
The Government Cannot Prevent a Depression
What Will Cause the Next Depression or Panic?
Great Panic Coming - Future Trend of Stocks
- Outlook for 1950
- Preview of 1951-1953
- Conclusion
- ANSWERS TO INQUIRIES
From the Book's Foreword
"In 1910 at the request of friends I wrote a small booklet entitled "Speculation a Profitable Profession." In this booklet I gave the rules that helped me to make a success in my personal trading.
January, 1923, I wrote "Truth of the Stock Tape" to help those who were trying to help themselves in speculation and investment trading. This book was favourably received by the public and many proclaimed it my Masterpiece. The book fulfilled its mission as evidenced by letters from grateful readers. After predicting the great panic in 1929 there was a call for a new book to bring "Truth of the Stock Tape" up to date. I answered that call in the early part of 1930 by writing "Wall Street Stock Selector" giving my readers the benefit of practical experience in which I developed new rules since 1923. In "Wall Street Stock Selector" I predicted the "Investors Panic," and said that it would be the greatest panic that the world had ever known. This prediction was fulfilled by the panic which ended in July, 1932, with some stocks declining to the lowest levels they had reached for the past 40 to 50 years.
A great advance followed the 1932 panic and my rules helped many people to make substantial profits.
In 1935 satisfied readers asked me to write a new book. I responded to that calling my third book "New Stock Trend Detector" in the latter part of 1935, giving the benefit of my experience and new and practical rules which I had discovered.
Since 1935 many changes have taken place; the market passed through the panic of 1937 which was forecast by me. The decline ended in March, 1928, and a minor Bull Market followed to November 10, 1938.
The second World War started in September 1, 1939, and the United States entered the war in December, 1941. After we were at war a further liquidation of stocks occurred and final lows were reached April 28, 1942, when stocks sold below the low level of 1938 at the lowest levels since 1932.
From the lows in 1942 a prolonged advance followed which continued after the end of the Japanese War in August, 1945.
1946, May 29, stocks sold at the highest level they had reached since 1929. My rules and my forecast called the top of this advance and the sharp decline which followed to October 30, 1946, when final low was reached.
Fourteen years have passed since writing my last book and I have gained more knowledge through actual market operations. The world is upset and confused; investors and traders are puzzled over the business depression and the decline in the stock market. Many have written requesting me to write a new book. With the desire to help others I have written "45 years in Wall Street" giving the benefit of my experience and my new discoveries to aid others in these difficult times. I am now in my 72nd year; fame would do me no good. I have more income than I can spend for my needs, therefore, my only object in writing this book is to give others the most valuable gift possible - KNOWLEDGE! If a few find the way to make safer investments my object will have been accomplished and satisfied readers will be my reward."
July 2, 1949
W. D. Gann
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All of Mr. Gann's books and courses are available from the Lambert-Gann Publishing, Inc.
 www.wdgann.com
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