This book is dedicated to my
stock trading mentor,
Nicolas Darvas. Although I
never met him,
he has taught me more about
stock trading and investing
than anyone else.
I hope this book does justice
to his investing principles and
memory.
On the afternoon of
January 4, 2008, the Dow
Jones Industrial Average fell
to 12,800. From the price
action of the market I decided
to take all my investments out
of stocks and put them into
cash. I had been selling out of
the market during downtrends
in late 2007 but something
was different about this
action. Money was flowing
out of the stock market at a
faster and faster pace.
The decision to move from
equities into cash enabled me
to keep my profits from the
2003-2007 bull market, which
had grown my accounts to
$250,000. I was able to keep
my profits through the market
collapse that ensued in 2008
and 2009. This book contains
the lessons I learned from the
books of legendary investor
Nicolas Darvas, which
enabled me to accomplish
this feat. Hopefully they will
help you through the
turbulent times that no doubt
lie ahead.
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