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W. D. Gann on
THE MASTER TIME FACTOR
This E-Book is not to be sold. It is a free educational service in the public interest published by
Gann Study Group
W. D. Gann on
Contents
Note to the Reader
3
Background on The Master Time Factor
4
Supply and Demand
8
Aout Terminology
!!
"t#s Mathematical$
!%
Further Statements &rom the 'ritings o& '( D( )ann *Arranged +hronologically,
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Ad.ertisements Making Re&erence to Time Factor or The Master Time Factor
!/
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W. D. Gann on
Contents
Note to the Reader
3
Background on The Master Time Factor
4
Supply and Demand
8
Aout Terminology
!!
"t#s Mathematical$
!%
Further Statements &rom the 'ritings o& '( D( )ann *Arranged +hronologically,
!-
Ad.ertisements Making Re&erence to Time Factor or The Master Time Factor
!/
%
THE MASTER TIME FACTOR
Note to the Reader This ooklet is o&&ered to you 0ith the thought that moti.ated the &ounding o& the )ann Study )roup itsel&1 to ring original 0ritings y and aout '( D( )ann to students o& his 0ork 0ho may pre.iously ne.er ha.e had access to these 0orks and to o&&er selections &rom those 0ritings and organi2e them in a 0ay that may stimulate thought and promote &urther in.estigation( "& you ha.e decided to read this ooklet 0ith the hope o& analy2ing the &inancial markets like '( D( )ann on the net trading day a&ter you &inish reading you might as 0ell dispose o& this little 0ork right no0 ecause it 0ill not help you in that 0ay( The o5ect o& this ooklet is to collect Mr( )ann#s thoughts on the su5ect6 it does not attempt to tell you anything more than he does 0hich 0hich as 0ill e seen is precious precious little( 'e must e.er ear in mind that '( D( )ann shrouded the eact nature o& the Master Time Factor in deepest secrecy( 'hate.er the shortcomings o& this little 0ork " ha.e at least not held ack 0hat Mr( )ann said in plain 7nglish on the su5ect e.en i& 0hat he said amounts to a thimle&ul o& the in&ormation that 0e 0ould all like to ha.e( "& on the other hand you approach this ooklet 0ith the idea that there may e some ideas 0orth re&lecting upon 0ithin it and that these could e the asis &or &urther study and eperimentation then your time in reading it may e 0ell spent( Romeman April !% %!4
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W. D. Gann on
Background on The Master T!e Factor 7.ery student 0ho has ecome &amiliar 0ith the 0ritings o& '( D( )ann is interested in the 9uestion o& the Master Time Factor1 0hat it is and ho0 it 0orks( This ooklet rings together in one place scattered re&erences made y Mr( )ann to the Master Time Factor( A historian approaching the su5ect o& this ooklet might 0ant to kno0 right a0ay1 'hen did '( D( )ann &irst make re&erence to the Master Time Factor in his 0ritings and 0hen did he disco.er it: The &irst kno0n re&erence re&erence to the Master Time Factor y that name appears to ha.e een on ;uly / !/%< in a letter y Mr( )ann 0hich has sur.i.ed and een made pulic *not ha.ing access to e.erything that he 0rote e&ore that date 0e cannot e sure o& 0hen the &irst re&erence actually occurred,( ! "n this letter to ;ohn =( Spohn Mr( )ann 0rote1 >?ou are eligile to enter my Summer +lass o& Stock and +ommodity Scienti&ic Forecasting 0hich opens August %nd( My latest disco.ery @ the Master Time Factor @ 0ill e taught you( " 0ill instruct you in the seasonal trend o& man 0hich 0hich 0ill enale you to N' the time and seasons 0hen you can succeed est( This is o& great .alue(>% "n late !/%8 0riting in the !/%/ Annual Forecast o& the Stock Market he mentioned the Master Time Factor y name to a roader readership( This &orecast 0as reprinted at the ack o& his ook Wall Street Stock Selector pulished in !/3 and the rele.ant ecerpts are included later in this ooklet( As early as midC;anuary !/%! ho0e.er in crisp promotional style !
This This is the the sec secon ond d o& o& &i.e &i.e lett letter ers s in in a &ile &ile in the the )an )ann n Stu Study dy )rou )roup p arc archi hi.e .es s ent entit itle led d >)ann etters(> Although the letter here 9uoted is addressed to ;( =( Spohn the preceding letter sent to the same address 0as addressed to ;ohn =( Spohn( % "n Mr( )ann#s ook Wall Street Stock Selector pulished in !/3 Mr( )ann included a section entitled >'hen a Man#s Trend +hanges> on pp( 3EC38 in 0hich he re&ers speci&ically to >man#s seasonal trend>(
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THE MASTER TIME FACTOR
Mr( )ann 0rote1 >Stocks &ollo0 a regular cycle and mathematical cur.e( By a certain time &actor 0hich " disco.ered am ale to tell 0hen they 0ill e high or lo0(>3 And in !/%3 he 0rote in Truth of the Stock Tape 1 >The most important thing o& all is the Time &actor 0hich " use in making up my annual &orecasts( "t is not my o5ect here to gi.e a0ay that secret >4 Although Mr( )ann does not in these t0o 9uotes use the term Master Time Factor it seems reasonale to assume it is 0hat he intends 0hen he speaks o& >the Time &actor> and >a certain time &actor>( 3
From From an ad.e ad.errtis tisemen ementt in in Th The Ghi Ghilladel adelph phia ia "n9u "n9uir irer er ;a ;anuar nuary y !- !- !/%! !/%! 9uo 9uotted in &ull later in this ooklet( 4 '( D( )ann Truth of the Stock Tape p( !!-( The statement >"t is not my o5ect here to gi.e a0ay that secret > raises the 9uestion as to 0hether Mr( )ann 0as implying >"t is my o5ect in some other place to gi.e a0ay that secret(> "nterestingly in the Fore0ord to the romance The Tunnel Thru the Air 0ritten &our years later he said >The #Tunnel Thru the Air# is mysterious and contains a .al uale secret clothed in .eiled language(> The letter 0ritten to ;ohn =( Spohn 9uoted ao.e 0as 0ritten on ;uly / !/%<( The copyright &or The Tunnel Thru the Air 0as 0as registered on No.emer 3 !/%< according to the irary o& +ongress +opyright &&ice Catalogue of Copyright Entries Gart !1 Books )roup ! Ne0 Series Holume %4 &or the year !/%< Nos( !C!48 p( !!%!8( There&ore 0e kno0 &or certain that Mr( )ann had disco.ered the Master Time Factor prior to the pulication o& The Tunnel Thru the Air. =is rochure >earn Be&ore ?ou ose> is undated ut perhaps 0as issued around !/4 since the last date in it is !/3/( "t ad.ertises Mr( )ann#s course >Forecasting Method on +otton or )rain> sold at a cost o& o & I!E saying that it >+ontains Master Time Factor> and speci&ically stating1 >?ou are taught the Master Time Factor and ho0 ho0 to make up a &orecast one or more mo re years in ad.ance(> The rochure also mentions a course entitled >No( 3 Master Forecasting Method> and states1 >This Method contains all o& the Form Rules Resistance e.el and Holume o& Sales and my secret disco.ery o& the Master Time Factor and a ne0 0ay o& Forecasting y Mathematical Rules that are simple and practical(> *pp( !8 !-, "n his ooklet >Face Facts America$> copyrighted in !/4 !/ 4 he states that his course entitled >Master Forecasting Method> >includes his Master Time Factor and +ycle Theory>( *p( 4<, There is a course dated No.emer !/3E !/3 E entitled >Forecasting> 0hich is sometimes also called >Master Time Factor and Forecasting y Mathematical Rules>6 in this course ho0e.er the terms Master Time Factor and time &actor are ne.er used( "n his course >'( D( )ann Mathematical Formula &or Market Gredictions1 The Master Mathematical Grice Time and Trend +alculator> dated Septemer %/ !/E3 Mr( )ann says on p( 3 >"n connection co nnection 0ith the Master Time and Trend +alculator apply all o& the rules 0ith the Master Time Factor and geometric angles(> =o0e.er the term Master Time Factor appears no0here else in the course and this suggests that students 0ho ought the course recei.ed additional pri.ate *9uite possily oral, instruction as to its identity( Gri.ate oral instruction o& this kind apparently did occur( ;oel Rensink 0riting in Trader#s 'orld Maga2ine ate Fall %EJ7arly 'inter %- said that he had heard o& a trader 0ho had contacted '( D( )ann y telephone and to 0hom during the course o&
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W. D. Gann on
'hen then did Mr( )ann disco.er the Master Time Factor: "n contradiction to his o0n letter to ;ohn =( Spohn it has een claimed that '( D( )ann &ound it 9uite early in his career in !/8 or !//( According to es +lemens in his iographical sketch o& '( D( )ann >n August 8 !/8 he made one o& his greatest mathematical disco.eries &or predicting the trend o& stocks and commodities( This 0as #The Master Time Factor(#>E Ad.ertisements during Mr( )ann#s li&etime put the date in !//( At a date unspeci&ied in !/4< Mr( )ann sold his &inancial market &orecasting usiness(- "t ecame kno0n as '( D( )ann Research "nc( 0hich continued ad.ertising suscriptions &or )annCstyle &orecasts throughout the Knited States during Mr( )ann#s li&etime( Ad.ertisements y '( D( )ann Research "nc( repeatedly claim that the Master Time Factor 0as >originated in !//>( < the con.ersation Mr( )ann promised to teach the Master Time Factor &or IE( The trader made an agreement to share 0hat he learned 0ith t0o trader &riends i& they 0ould split the cost o& course three 0ays( "nstead 0hen he returned &rom meeting Mr( )ann the trader kept to himsel& said nothing aout 0hat he had learned re&unded the money his &riends had ad.anced him and proceeded to trade so success&ully that he ought a mansion and retired( 'hile pre.iously he had een an unremarkale trader a&ter learning the Master Time Factor he >seemed to e #reall y right# in his trades 0hen he had a lot o& si2e on> according to one o& the trader &riends( The &riends then decided that they too 0anted to study 0ith Mr( )ann ut 0hen they tried to get in touch 0ith him they learned that he had died( Gann Masters Technical Analysis Course =alliker#s "nc( !//E( '( D( )ann#s E pulicity rochure >Mathematical Formula &or Market Gredictions> states * p( !,1 >!/8 ((( August 8th made one o& his greatest mathematical disco.eries &or predicting the trend o& stocks and commodities(> Mr( +lemens does not tell us ho0 he is ale to link the August 8 !/8 disco.ery to the Master Time Factor( The rochure in 9uestion does not say that it 0as the Master Time Factor that Mr( )ann disco.ered on that date( Again according to the es +lemens iographical sketch( < Ad.ertisments placed in The Boston =erald Septemer E !/486 The Dallas Morning Ne0s Decemer !% !/48 and Feruary !3 !/4/6 and The Seattle Daily Times March - !/4/ all use this eact phrase( "t is possile that this 0as a guess on the part o& the successors to Mr( )ann rather than something that they actually heard &rom him ut i& the Master Time Factor 0as indeed disco.ered in !// then it certainly makes that year a .ery pro&icuous one &or Mr( )ann( "n !// he compiled 0hat he called his Financial Time Tale6 authored the R ad.ertisements *see the )ann Study )roup ooklet R L '( D( )ann,6 and suse9uently ga.e his no0 &amous inter.ie0 to The
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THE MASTER TIME FACTOR
=a.ing attempted to determine 0hen Mr( )ann disco.ered the Master Time Factor the historian 0ould 0ant to kno0 eactly 0hat he had disco.ered( At this point 0e run into great di&&iculties ecause it 0ould appear that throughout his li&etime it remained Mr( )ann#s goal not >to gi.e a0ay that secret>( =e ne.er says openly in any o& his ooks or courses >this is the Master Time Factor and here is ho0 you use it>( A 5ournalist once tried to get Mr( )ann to open up aout >the time &actor>( From the 0ay in 0hich Mr( )ann responded 0e may presume that the time &actor re&erred to 0as indeed the Master Time Factor( =is response sho0s ho0 tenaciously he guarded his secret( >" AS7D MR( )ANN1 #'=AT "S T=7 +AKS7 B7="ND T=7 T"M7 FA+TR# >=e smiled and said1 #"t has taken me t0enty years o& ehausti.e study to learn the cause that produces e&&ects according to time( That is my secret and too .aluale to e spread roadcast( Besides the pulic is not yet ready &or it(# >#'ater seeks its le.el# continued Mr( )ann( #?ou can &orce it higher 0ith a pump ut 0hen you stop pumping it re9uires no &orce to cause it to return to its &ormer le.el( >#Stocks and +ommodities are the same( They can e &orced ao.e their natural le.el o& .alues to 0here lams lose all &ear ecome charged 0ith hope and uy at the top( Then stocks are permitted to sink to a le.el 0here hope gi.es 0ay to despair and the most rampant ull ecomes a ear and sells out at a loss( >#My disco.ery o& the time &actor enales me to tell in ad.ance 0hen these etremes must y the la0 o& supply and demand occur in stocks and commodities(#>8 Ticker and "n.estment Digest( "t is in this year that he made his &irst kno0n pulic re&erences to the a0 o& Hiration( 8 The Morning Telegraph o& Ne0 ?ork Ne0 ?ork Decemer !< !/%%(
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W. D. Gann on
Su""#$ and De!and Se.eral times in the !/%s and a short 0hile therea&ter '( D( )ann linked the term >time &actor> 0ith supply and demand( =e 0ould 0rite in !/3 >There is only one 0ay to determine price mo.ements and that is the 0ay " do it @ y the study o& SKGG? and D7MAND and a T"M7 FA+TR( SKGG? and D7MAND tell 0hat e.eryody is doing6 not 5ust one set o& men or the pulic( SKGG? and D7MAND sho0 0here the alance o& po0er rests and i& the D7MAND &rom the pulic is greater than the SKGG? &rom the soCcalled insiders stocks ad.ance and vice- versa ( But rememer the pulic ne.er run a market &or .ery long ecause they are not organi2ed6 ha.e no leader and the &inal result is a collapse and loss( " study the market daily to determine a change in SKGG? and D7MAND and to locate the alance o& po0er in order that my suscriers may get the ene&it o& ig mo.es(>/ "n an inter.ie0 in !// Mr( )ann a&&irmed that >to speculate scienti&ically it is asolutely necessary to &ollo0 natural la0> and in his !/%3 ook Truth of the Stock Tape in 0hich the phrase >supply and demand> appears %% times he identi&ies supply and demand 0ith natural la0 0hen he says1 >the tape and charts ((( 0ill point to the correct course o& prices according to the natural la0 o& supply and demand>(! A >prominent usiness man in the 'est> once in9uired o& Mr( )ann regarding his ad.isory ser.ices( The latter 0rote ack in a letter >My calculations are ased on supply and demand and are purely scienti&ic mathematical calculations( Many years ago " disco.ered a time &actor 0hich enales me to tell 0hen accumulation or distriution is taking place and 0hen stocks reach approimate tops or ottoms(>!! no0ing these things ga.e Mr( )ann a key ad.antage1 >The study / !
Supplementary pulicity material to Wall Street Stock Selector p( 44( The Ticker and "n.estment Digest Decemer !// p( E3 and Truth of the Stock Tape p( !-/ respecti.ely( Wall Street Stock Selector p( <( !!
8
THE MASTER TIME FACTOR
o& SKGG? and D7MAND enales me to tell 0hen ig interests are accumulating stocks(>!% "n promoting his ne0sletters Mr( )ann &urther eplained1 >My ad.ice is not ased on &ake tips or guess 0ork ut a care&ul study o& SKGG? AND D7MAND 0hich enales me to determine 0hen stocks are eing accumulated or distriuted( >'hen the SKGG? o& stocks is large and D7MAND is small stocks decline( 'hen D7MAND eceeds SKGG? they ad.ance( My study o& time and .olume enales me to determine mo.ements in ad.ance(>!3 "n t0o o& his courses 0hich are a.ailale to us today ut 0hich 0ere not kno0n to the general pulic in his day Mr( )ann gi.es &urther insight on this 9uestion o& supply and demand( >'hen a stock is in a .ery 0eak or a .ery strong position it 0ill al0ays sho0 it y its position on the geometrical angles and a .olume chart made up according to the proper spacing 0ith .olume that is considering the total numer o& shares!4 0ill sho0 0hen the stock is in a strong or 0eak position and sho0 0hether uying or selling predominates enaling you to determine 0hether supply is increasing or 0hether demand is decreasing(>!E >The HKM7 F SA7S is the real dri.ing po0er ehind the market and sho0s 0hether Supply or Demand is increasing or decreasing( arge uying or selling orders &rom pro&essional traders the pulic or any other source o& supply and demand are ound to e registered on the tape and sho0n in the .olume o& sales( >There&ore a care&ul study o& the HKM7 F SA7S 0ill enale !% !3 !4 stock
Ad.ertisement The Ghiladelphia "n9uirer Sept( %E !/%!( Ad.ertisement The Ghiladelphia "n9uirer May %/ !/%!( > in order to understand the meaning o& .olume you must kno0 the total capital outstanding and the &loating supply o& the stock you are trading in(> * Truth of the Stock Tape, p( -,( !E Method &or Forecasting the Stock Market p( !8(
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W. D. Gann on
you to determine .ery closely a change in trend especially i& you apply all o& the other rules &or 5udging position according to the Formations Resistance e.els and Time(>!-
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Holume o& Sales p( !(
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THE MASTER TIME FACTOR
A%out Ter!no#og$ 'hen researching the Master Time Factor it is important to e a0are o& '( D( )ann#s particular use o& 0ords( "n his 0ritings including pulicity materials and ad.ertising he re&ers to >a time &actor> >the time &actor> >the Master Time Factor> and >time &actors>( The &act that Mr( )ann speaks o& the eistence o& more than one time &actor is su&&icient reason to e cautious in assuming that any re&erence that he makes to >time &actor> necessarily means the Master Time Factor unless the Master Time Factor is actually named in the contet o& the particular statement in 9uestion( "& the re&erence is not eplicit 0e must e open to the possiility that it could re&er to some other time &actor( Another point to ear in mind is that the 0ord >&actor> does not necessary mean the same thing e.ery time that Mr( )ann uses it( "n some places in his 0ritings Mr( )ann appears to use >&actor> near the 0ord >time> in the sense o& >component o& market acti.ity> along 0ith other components such as price and .olume( For eample he 0rites1 >earn the three most important &actors T"M7 GR"+7 and HKM7 F SA7S(>!< =ere the meaning o& >three most important &actors> appears to e 9uite clearly >the three ma5or components o& market acti.ity>( r take this &amous statement1 >T"M7 is the most important &actor o& all and not until su&&icient time has epired does any ig mo.e start up or do0n( The T"M7 &actor 0ill o.eralance oth Space and Holume( 'hen T"M7 is up space mo.ement 0ill start and large .olume 0ill egin either up or do0n( At the end o& any important mo.ement @ monthly 0eekly or daily @ T"M7 must e allo0ed &or accumulation or distriution or &or uying and selling to e completed(>!8 =ere again i& >component o& market acti.ity> is sustituted in this 9uote at the t0o points in 0hich the 0ord >&actor> appears the tet makes sense( !< !8
'( D( )ann Forty-Five ears in Wall Street p( 38( '( D( )ann !o" to Make #rofits in Co$$o%ities p( E-(
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W. D. Gann on
It&s Mathe!atca#' For many years '( D( )ann ad.ertised his ser.ices as a market analyst in ne0spapers throughout the Knited States( "n ad.ertising that appears later in this ooklet 0e 0ill see that Mr( )ann re&ers to the Master Time Factor as >our mathematical Master Time Factor> >our Scienti&ic Mathematical Master Time Factor> >our Mathematical Scienti&ic Master Time Factor> and >our Master Time Factor ased on Mathematical Science(>!/ =e &urther says in one ad.ertisement >The mo.ement o& stock prices oeys a mathematical la0 o& cycles 0hich can e &orecast y the Master Time Factor @ Time is the most important element(>% "ndeed in one o& his ooks Mr( )ann states that the Master Time Factor permitted him to kno0 0hen Ocertain time cyclesP 0ould repeat6 this &act at least tells us something aout 0hat the Master Time Factor does1 >"t is a matter o& record that the panic o& !/3!C!/3% 0as the greatest in history 0ith the most se.ere declines e.er recorded in the history o& the Ne0 ?ork Stock 7change( This prediction 0as ased on my Master Time Factor 0hich enales me to tell months and years in ad.ance 0hen certain time cycles repeat and cause etreme high and lo0 prices( This is enough to con.ince any man that my disco.eries ased on mathematical science can e depended upon to &orecast &uture market mo.ements(>%! !/
The name o& Mr( )ann#s usiness 0as O'( D( )ann Scienti&ic Ser.ice "nc(P &rom as early as !/%8 *ad.ertisement in The 'instonCSalem ;ournal o& 'instonCSalem North +arolina ;anuary 8 !/%8, until the end o& !/3- *ad.ertisements in The Glain Dealer o& +le.eland hio and The maha 'orld =erald o& maha Neraska oth dated Decemer - !/3-,( % The Mil0aukee ;ournal o& Mil0aukee 'isconsin ;uly 3 !/38 included in the last chapter o& this ooklet( %! '( D( )ann &e" Stock Tren% 'etector p( !3-( ne o& the )ann pulicity rochures adds1 >Time pro.es all things e.en 0hen stocks and commodities make tops and ottoms( 'ith our Master Time Factor 0e are ale to tell long e&ore important e.ents take place 0hen stocks and commodities 0ill reach high or lo0 ecause 0e kno0 y mathematical science 0hen time cycles repeat( These .aluale rules are all in the Bile i& you kno0 0here to &ind them(> *>Scienti&ic Stock Forecasting or arge Gro&its on Small Risks> undated perhaps pulished around !/3- p( !(,
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THE MASTER TIME FACTOR
'hate.er the Master Time Factor is it is use&ul to rememer its intimate connection 0ith Omathematical scienceP( Mr( )ann makes many strong statements aout mathematics in relationship to the &inancial markets( "t is not out o& place here to recall some o& them1 >7uclid the great mathematician 0hose 0ork 0as per&ect taught that mathematics 0as the asis o& e.erything and y it 0e pro.e .iration( " am the only man 0ho has applied this old la0 to speculati.e markets and pro.ed it correct( No other li.ing man has possession o& this secret kno0ledge and there is no other in&ormation #5ust as good# that tells you 0hat the markets 0ill do(>%% >All markets are su5ect to un&ailing mathematical la0 and " ha.e disco.ered ho0 to apply this la0 success&ully to +otton 'heat and Stocks( " am ale to tell you eact points to 0hich markets 0ill mo.e up or do0n( Ask yoursel& seriously can you do 0ithout ad.ice that is asolutely accurate and reliale( There is no guess 0ork in my method(>%3 >There is no top and ottom price 0hich cannot e determined y mathematics( 7.ery market mo.ement is the result o& a cause and 0hen once you determine the cause it is easy enough to kno0 0hy the e&&ect is as it is(>%4 >#" &igure things y mathematics# Mr( )ann eplained in an inter.ie0( #There is nothing mysterious aout any o& my predictions( "& " ha.e the data " can use algera and geometry and tell eactly y the "t is 0orth noting here as 0ill e seen &rom the ad.ertisements later in this ooklet that the epressions OMaster Time Factor and +ycle TheoryP 0ere sometimes linked y Mr( )ann as 0hen &or eample a pulicity rochure summari2ed his *success&ul, trading eperience o.er a threeCyear period and added1 >Such a record o& accuracy pro.es that '( D( )ann has disco.ered a Master Time Factor and +ycle Theory that 0orks and can e depended upon in &uture(> *earn Be&ore ?ou ose p( !,( Thus 0e must not &orget aout cycles 0hen thinking aout the Master Time Factor( %% R ad.ertisement The Ne0 ?ork =erald May %3 !//( %3 R ad.ertisement The Ne0 ?ork =erald ct( 3! !//( %4 >Natural Resistance e.els and Time +ycle Goints> p( !(
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W. D. Gann on
theory o& cycles 0hen a certain thing is going to occur again(#> %E >#An astronomer can predict to the minute 0hen a eclipse is going to occur# he said in another inter.ie0 #ut you 0ould not consider him a prophet 0ould you: & course not( =e simply makes use o& mathematics ased on kno0n la0s o& the mo.ements o& the planets in their orits( " ha.e &ound in my researches that the +hinese understood all those la0s and computed the coming o& eclipses thousands o& years e&ore the 7gyptians and +haldeans( "t is mar.elous the kno0ledge that these ancients had( "n making my predictions " used geometry and mathematics 5ust as an astronomer does ased on immutale la0s 0hich " ha.e disco.ered(%- There is nothing supernatural or 0eird aout it( Some 0eeks ago " read an interesting article on the &ailure o& astrologers in their predictions regarding the 0ar( %< >#No0 there is a great deal in the .irations o& the planets ut to make accurate predictions the great la0 ehind it all 0hich the ancients understood ut 0hich they purposely re&rained &rom putting in their ooks as they 0anted to keep the secret &or themsel.es must enter into the calculation( That is 0hy astrology &ails &or nothing can e accurate that is not ased on mathematics Q and so &e0 astrologers are mathematicians(#>%8 %E
The 7.ening Telegram Ne0 ?ork Ne0 ?ork March E !/%3( "n saying in this inter.ie0 that he uses Oalgera and geometryP he is gi.ing &urther de&inition to his use o& the 0ord mathematics( %Mr( )ann later placed this statement at the eginning o& the se.enth chapter o& his romance1 >"n making my predictions " use geometry and mathematics 5ust as the astronomer does ased on immutale la0s(> The Tunnel Thru the Air p( 'ar#s 7nd a Blo0 to the Grophets> stated that >Raphael adkiel Mme( Thees and other 0ell kno0n prophets &ailed in e.en approimating the date 0hen the 0ar 0ould end and nearly all prophesied that the aiser 0ould not li.e to see the close o& the con&lict(> The article added ho0e.er that >There 0as really only one astrologer 0ho told the coming o& the 0ar to any de&inite degree and he 0as 7d0ard ( ;ohndro(> Many years later it has een reported ( 7d0ard ;ohndro 0as hired y '( D( )ann to do astrological 0ork &or him( %8 "nter.ie0 pulished in The Ne0 ?ork =erald Maga2ine ;an( E !/!/( No attempt is made here in 9uoting this statement to do anything so &ooli sh as to try to deny that Mr( )ann used astrology as it 0as clearly an important part o& his 0ork( =e is in no 0ay repudiating astrology in this 9uotation as can e seen y a close reading o& it( But Mr( )ann e.en 0hen mentioning astrology &a.oraly in his oneCpage article >The =uman
!4
THE MASTER TIME FACTOR
>My calculations are ased on the cycle theory and on mathematical se9uences( =istory repeats itsel&( That is 0hat " ha.e al0ays contended @ that in order to kno0 and predict the &uture o& anything you only ha.e to look up 0hat has happened in the past and get a correct ase or starting point( ((( mathematical science 0hich is the only real science that the entire ci.ili2ed 0orld has agreed upon &urnishes unmistakale proo& o& history repeating itsel& and sho0s that the cycle theory or harmonic analysis is the only thing that 0e can rely upon to ascertain the &uture(>%/ >G7R+7NTA)7 F =")=7ST S7"N) GR"+7 '7ST S7"N) GR"+7 AND RAN)7 >Mathematics is the one eact science( All nations agree on the accuracy o& the science o& mathematics and use it regardless o& 0hat language they speak( "n all other lines scientists disagree ut 0hen it comes to using mathematics the chemists the astronomer the economist and the accountant all rely upon mathematics and agree upon its accuracy( They all agree that % and % make 4( Any method or system to make money trading in +ommodities must e ased upon the eact la0 o& mathematics( 7ach TG or BTTM in 'heat or other +ommodities comes out in accordance 0ith an eact mathematical proportion to some other TG or BTTM(> 3 >All po0er under hea.en and on earth is gi.en unto the man 0ho masters the simple science o& mathematics(>3!
Body> 0ritten !% years later on ;an( !< !/3! rought attention ack to mathematics( >Study the position o& < times < or 4/ on all o& your permanent charts( Then you 0ill understand 0hy the children o& "srael marched < times around the 0alls o& ;ericho le0 the rams horn < times and the 0alls &ell do0n on the
The Tunnel Thru the Air pp( The Basis o& My Forecasting Method> p( )AC!(
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W. D. Gann on
Further State!ents (ro! the Wrtngs o( W. D. Gann )Arranged Chrono#ogca##$* >Do you kno0 o& any other economic in.estment or ad.isory ser.ice that 0as ale to predict the !/%/ stock panic one year in ad.ance: My Forecast 0as ased on my Master Time Factor and mathematical interpretation o& the return o& cycles( "t 0as not ased on guess0ork or human 5udgment(>3% >T"M7 FA+TR AND FR7+AST"N) M7T=D >A&ter you ha.e learned all o& the rules laid do0n in TRKT= F T=7 ST+ TAG7 and 'A STR77T ST+ S77+TR and ha.e learned ho0 to apply them " am sure you 0ill agree that " ha.e gi.en you more than your money#s 0orth in these ooks( ?ou 0ill then e ready &or a postCgraduate course and 0ill proaly 0ant to kno0 ho0 to &orecast according to my Master Time Factor and determine the years 0hen stocks 0ill ha.e ig ad.ances and reach &inal tops and also the years and the cycles 0hen panicky declines are indicated( >" teach all o& these rules 0ith my complete Forecasting Methods sho0ing ho0 to determine the ma5or and minor s0ings according to the time element( " can teach you ho0 to determine the 0a.e lengths o& di&&erent stocks so you 0ill kno0 aout ho0 many points they are going 3%
'( D( )ann Wall Street Stock Selector supplementary material p( !!( "n reality as 0e &ind on p( E o& '( D( )ann#s promotional rochure >earn Be&ore ?ou ose> Mr( )ann &orecast the coming stock market crash e.en earlier than he states here( >"n the spring o& !/%< Mr( )ann 0rote #The Tunnel Thru the Air or ooking ack &rom !/4# 0hich contained many remarkale &orecasts in regard to stocks and commodities and 0orld e.ents 0hich ha.e een &ul&illed( "n this ook Mr( )ann said that &rom !/%/ to !/3% there 0ould e the 0orst panic in the 0orlds history(> "t 0as a&ter he 0rote and pulished this ook that he made his !/%/ &orecast &or suscriers1 >=is !/%/ Stock Forecast issued on No.emer %3 !/%8 and ased on his Master Time Factor indicated the end o& the ull market in August and early Septemer !/%/( =e stated in no uncertain terms that the panic 0ould start in Septemer !/%/ and that it 0ould e a great deluge 0ith a Black Friday(> "t seems reasonale to conclude that i& the prediction in the !/%/ Forecast 0as >ased on his Master Time Factor> so too the prediction o& a panic in The Tunnel Thru the Air 0as >ased on his Master Time Factor>(
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THE MASTER TIME FACTOR
to ad.ance 0hen they go into ne0 territory and aout ho0 many points they are going to decline 0hen they reak out o& the 2one o& distriution( 'ith my Forecasting Methods you can make up a &orecast o& the a.erage market one or more years in ad.ance and also make up a yearly &orecast on indi.idual stocks( 7ach stock mo.es according to its indi.idual time limit and makes top and ottom at di&&erent times ecause the .iration and 0a.e length .aries on the di&&erent stocks( >" teach +ourses o& "nstruction on +otton 'heat +orn ats Rye ard +o&&ee Sugar +ocoa Ruer Silk and other commodities ut " only impart these methods to people 0ho are 0illing to comply 0ith my re9uirements( They are too .aluale to e roadcast or put in the hands o& people 0ho cannot use them to ad.antage( There&ore " only teach them to people 0ho 0ant them &or their o0n use and do not intend to pulish them or sell them to others( " 0ill not teach my Forecasting Method to anyone unless " &eel sure that they can make a success 0ith it a&ter they learn it( Some men cannot make a success 0ith any kind o& a method or rule( " 0ould not take a man#s money and teach him something that " did not think 0ould ene&it him( >The man 0ho epects to succeed in speculation or in.estments must study and learn all that he can aout the market( "t has een 0ell said #'here kno0ledge egins speculation ceases(# There&ore the aim and o5ect o& e.ery man 0ho 0ants to make success in speculation or in.esting should e to get as much scienti&ic kno0ledge as possile and then he 0ill e ale to make pro&its( >'( D( )ANN S+"7NT"F"+ S7RH"+7 >My method o& determining the trend o& the stocks and commodity markets has stood the test o& time( " ha.e een in Ne0 ?ork +ity &or %% years and ha.e al0ays done usiness under my o0n name( This Ser.ice possesses many superior ad.antages o.er other classes o& ser.ice ecause it has the one thing lacking in all other ser.ices @ the time element( My disco.eries o& a Master Time Factor and the )reat +ycle
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W. D. Gann on
enale me to &orecast markets years in ad.ance(33 " do not depend on space charts ased on space mo.ements alone ecause these 0ould make errors and cause losses( " use .olume comined 0ith the proper time charts 0hich help me to determine the technical position o& the stocks much etter and a long time e&ore the statistical position is sho0n( Time tells all things( The &act that " ha.e een selling my Forecasts all o.er the Knited States and in many o& the &oreign countries &or the past !E years pro.es that they are .aluale ecause people continue to suscrie &or them year a&ter year( "n.estors and traders are al0ays 0illing to pay &or 0hat 0ill help them to make a greater success( "t pays to get the est scienti&ic kno0ledge ecause the est is al0ays the cheapest in the long run and you cannot epect to get something &or nothing( 7perience has taught me that the est 0ay to help others is to sho0 them ho0 to help themsel.es and i& " can get suscriers to read my ooks and learn my Methods they make a greater success &ollo0ing my Ser.ice(>34 >To those 0ho elie.e that #Faith 0ithout 0orks is dead# and 0ho are 0illing to 0ork and pay &or .aluale kno0ledge " 0ill teach my Master Time Factor and other rules &ound in the Bile( All o& these rules are co.ered in my !/3- Master Forecasting Method and &ull +ourse o& "nstruction(>3E 33
"n his course >Forecasting> dated No.emer !/3E *see note 4 ao.e, under >)R7AT +?+7 C MAST7R T"M7 G7R"D C - ?7ARS> Mr( )ann 0rites >This is the greatest and most important cycle o& all 0hich repeats e.ery - years or at the end o& the third %Cyear cycle( ?ou 0ill see the importance o& this y re&erring to the 0ar period &rom !8-! to !8-/ and the panic &ollo0ing !8-/6 also - years later Q !/%! to !/%/ Q the greatest ull market in history and the greatest panic in history &ol lo0ed( This pro.es the accuracy and .alue o& this great time period(> "n other courses ho0e.er he uses the term great cycle to descrie other time periods( 34 >!/%/ Annual Stock Forecast> supplement in Wall Street Stock Selector pp( 3/C4!( &e" Stock Tren% 'etector p( !%8( A &ootnote &ollo0ed *dates taken &rom pp( !8 3E and !!E,1 >=o0 &e0 people 0ould elie.e that there is a rule and time period in the grand old Bile that indicated the time 0hen +hrysler 0as &inal high ct( - !/%8( "t did not go one point higher until it declined to a &inal lo0 o& E in ;une !/3% ;une 4 !/3% 0hen according to the rule in the Bile it 0as ottom &or another ig ad.ance( Many .aluale truths are to e &ound in the Bile and practical la0s are there ut .ery &e0 people study and seek enough( They are not 0illing to 0ork hard &or no0ledge that 0ill help them make money( The Bile says #Seek and ye shall &ind knock and it shall e opened unto you(#> *See Note % ao.e &or &urther comments on the Master Forecasting Method course(,
!8
THE MASTER TIME FACTOR
Ad+ertse!ents Makng Re(erence to T!e Factor or The Master T!e Factor "n this &inal chapter in our eamination o& the Master Time Factor 0e reproduce the tet o& ad.ertisements placed y '( D( )ann in ne0spapers in 0hich he urges readers to a.ail themsel.es o& the ad.antages o& his >time &actor> 0hich in later ad.ertising is identi&ied as the Master Time Factor(
Cruc%#e Stee# , Me-can ete
0ere among the special stocks " ad.ised purchases o& recently as 0ell as Bald0in American "nt( American 'oolen and Hanadium Steel( The Supply L Demand etter is one that you can depend on to make you pro&its( My calculations and &orecasts are ased on Supply and Demand 0hich al0ays go.ern price mo.ements( Stocks &ollo0 a regular cycle and mathematical cur.e( By a certain time &actor 0hich " disco.ered am ale to tell 0hen they 0ill e high or lo0( " am the man 0ho predicted the end o& the 0ar and the aiser#s adication to the eact day( " also predicted the great decline in stocks &or No.emer and Decemer !/% the &orecast eing sent out one year in ad.ance( Send &or a copy o& it and 0rite &or &ree literature and read 0hat the Ticker Maga2ine Ne0 ?ork =erald and other ne0spapers say aout my 0onder&ul predictions( '=AT '" ST+S D N7T: ne stock 0ill ha.e a sensational ad.ance like +rucile Steel did recently( Se.eral lo0 price stocks are aout ready to ad.ance a reaction in some high price stocks is near( My Daily etter 0ill pick the acti.e &ast mo.ers &or you to uy and sell &or 9uick pro&its( My ad.ice on 'heat !/
W. D. Gann on
and +otton has een remarkaly accurate( 'heat 0ill soon ha.e a mo.e o& %E to 3c per ushel( Big mo.es in +otton are ahead( Send I!E( &or one month#s suscription to the Supply L Demand etter or IE( &or my Annual Forecast &or !/%! on stocks( SG7+"A FF7R &or I!E( " 0ill send the Daily etter &or one year and the Annual Forecast &or !/%! and mail &ree my ook >Speculation a Gro&itale Gro&ession> 0hich is o& great .alue to in.estors and traders( The ook is also sent &ree 0ith t0o months# suscription o& I3(( A trial 0ill con.ince you o& the .alue o& my ser.ice( Act no0( Mail your check today( '( D( )ANN !8 BRAD'A? N7' ?R N(?(3-
In+estors Stock Ser+ce
?ou should kno0 &acts e&ore uying and selling stocks( "t pays to get epert ad.ice and guidance( SKGG? AND D7MAND al0ays go.ern prices in the end( 'hen Supply eceeds Demand stocks decline6 0hen Demand eceeds Supply they ad.ance( " ha.e disco.ered a Time Factor 0hich enales me to determine 0hen stocks 0ill reach high or lo0 le.els( T=7 SKGG? AND D7MAND 7TT7R keeps you ad.ised as to the est stocks to uy or sell according to statistical and technical conditions( My ad.ertisement in last 0eek#s papers 0arned you that a reak in many stocks 0as near( "t came promptly Monday and Tuesday( Studeaker +handler Am( Sumatra declined < to !% points in three days( My suscriers 0ere short o& Studeaker and +handler at the top and made ig points( Some stocks are going higher$ Many are going lo0er( )et my ad.ice e&ore you get in 0rong( Suscription rate o& Daily etter co.ering ad.ice on +otton Stocks and )rain I!E per month or 3-
The Ghiladelphia "n9uirer o& Ghiladelphia Gennsyl.ania ;anuary !- !/%!( The same ad.ertisement 0as pulished in The Bridgeport Telegram o& Bridgeport +onnecticut on ;an( !E !/%! 0ith slight stylistic di&&erences *the 2eros eing omitted a&ter the dollar prices,(
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THE MASTER TIME FACTOR
t0o 0eeks# trial I<(E( My ook >Speculation a Gro&itale Gro&ession> sent &ree 0ith t0o months# suscription at I3( !/%! Annual Forecast on stocks reduced to I4( 'rite &or recent letters !/% Forecast and ne0spaper comments on my accurate &orecasts( '( D( )ANN 4/ Broad0ay Ne0 ?ork3<
T!e Te##s On Stocks
The &actor o& Time is most important in 5udging &uture mo.ements o& stocks( "t takes time to accumulate stocks &or a Bull campaign( Time is re9uired to distriute stocks e&ore a Bear mo.e( Do you kno0 0hether stocks are eing distriuted &or another reak or eing accumulated &or another ad.ance: Don#t guess$ Suscrie to T=7 SKGG? AND D7MAND 7TT7R 0hich gi.es you ad.ice ased on the la0 o& Supply and Demand correct statistical &acts and a time &actor 0hich enales me to kno0 0hen stocks are eing accumulated or distriuted( Some ig mo.es in oils coppers and steels 0ill start soon( et me help you select the est stocks to trade in( Daily etter ad.ising on +otton Stocks and )rain I!E per month t0o 0eeks# trial I<(E( >=elp&ul =ints &or Stock Traders> &ree to suscriers( Recent letters and ne0spaper comments on my accurate &orecasts mailed &ree( '( D( )ANN 4/ Broad0ay Ne0 ?ork38
3< 38
The Glain Dealer o& +le.eland hio May !E !/%!( The Ghiladelphia "n9uirer o& Ghiladelphia Gennsyl.ania No.emer %< !/%!( The same ad.ertisement 0as pulished in The 'ashington Gost o& 'ashington D+ on Decemer 4 !/%!(
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W. D. Gann on
G/ESSERS MISS TO OF STOC0S
?ou proaly relied on guess0ork and missed the top o& Stocks and are no0 holding on hoping &or a rally that may ne.er come( T=7 SKGG? AND D7MAND 7TT7R ad.ised suscriers to sell out and go short last Monday( They ha.e already made pro&its on the short side o& Bald0in Asphalt Me Gete and Studeaker( My method ased on a Time Factor and Supply and Demand is the one you can depend upon to get you in right( Many stocks are going lo0er( " ha.e selected a list that 0ill soon e good to uy( My suscriers ha.e een making money in 'heat and +otton( A trial 0ill con.ince you o& the .alue o& my ser.ice( "t does not pay to guess( Send I!E( &or one month#s suscription to the Daily etter and get started right( Recent etters !/%! Forecast and ne0spaper comments on my accuracy( '( D( )ANN 4/ Broad0ay Ne0 ?ork3/
SRING B/11 MAR0ET
Do you kno0 0hat stocks 0ill e leaders in the Spring Bull campaign: The leaders o& !/%% are not the stocks to uy &or ig pro&its( Supply and Demand regulate prices and you cannot a&&ord to guess( 'hile some 3/
The Ghiladelphia "n9uirer o& Ghiladelphia Gennsyl.ania April %3 !/%%(
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THE MASTER TIME FACTOR
stocks ad.ance others 0ill decline( My &orecasts are ased on mathematical science and a time &actor( They 0ill tell you the right stocks to uy at the right time and get you out 0ith pro&its( Se.eral lo0 and mediumCpriced stocks are ready to ad.ance 0hile some high priced issues 0ill e short sales &or a 9uick decline in March( +otton getting ready &or a ig decline and 'heat preparing to ad.ance( My !/%3 Forecasts on Stocks +otton and )rain reduced to I
NE2T MO3E IN COTTON
'ill May or ;uly e cornered and ctoer decline elo0 %c: Don#t try to guess ut &ollo0 my scienti&ic guidance ased on Supply and Demand( By a >time> &actor " am ale to tell 0hen ig mo.es in +otton Stocks or )rain 0ill start( My Daily etter ad.ised short sales o& +otton &rom April / to %!( My annual &orecasts ha.e called nearly e.ery important top and ottom &or se.eral years and 0ill e 5ust as correct on the net ig mo.e( My scienti&ic mathematical &orecasts enale me to S77 '=AT T=7RS D NT S77 to S77 B7FR7 T=7? S77 and to S77 FKRT=7R T=AN T=7? S77( This helps you to act in time and make pro&its( Future e.ents are nearly al0ays discounted( 'hen you can see 4
The Bu&&alo +ourier o& Bu&&alo Ne0 ?ork March !! !/%3(
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W. D. Gann on
the reason to uy or sell it is too late( Daily etter co.ering stocks cotton and grain I!E( per month( !/%3 +otton Forecast reduced to I-( including supplements( Daily telegraph ser.ice I3( per month( For 9uick ser.ice 0ire your money( !/%% Forecasts recent letters and ne0spaper comments on my accuracy &ree( '( D( )ANN 4/ Broad0ay Ne0 ?ork(4!
/ OR DOWN ON STOC0S4
Do you kno0 0hether the net mo.e in stocks 0ill e a ig ad.ance or decline: Don#t try to guess6 &ollo0 mathematical science and supply and demand( My Daily etter got suscriers out o& stocks at the top in March and had them short &or the ig reak in May( My kno0ledge o& a time &actor is 0hat helps you to get in at the right time and out at the right time( Many stocks are going lo0er6 some ha.e made ottom and are good to uy( Net 0eek some important mo.es 0ill start( et me get you in right( +TTN AND '=7AT The Supply and Demand etter has caught all the important mo.es in +otton this year( A mo.e o& 3 points or more 0ill start in ;une( " 0ill gi.e you the dates to uy or sell &or ig pro&its( 'heat getting in position &or an ad.ance o& !c per ushel( Send I!E( &or one month#s trial suscription to the Daily etter 0hich co.ers stocks cotton and 4! The )al.eston Daily Ne0s o& )al.eston Teas April %/ !/%3( Also pulished in The Richmond Times Dispatch o& Richmond Hirginia April %/ !/%3 0ith some minor di&&erences in capitali2ation(
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THE MASTER TIME FACTOR
grain and you 0ill soon e con.inced o& its .alue to in.estors and traders( Annual stock cotton and grain Forecasts reduced to I3 each &or the alance o& the year( Daily telegraph ser.ice &or suscriers at distant points I3 per month( !/%% Forecasts suscriers# testimonials recent letters and ne0spaper comments on my accuracy mailed &ree( '( D( )ANN 4/ BRAD'A? N7' ?R4%
What Ne-t n Stocks4
The Supply and Demand etter stands on its record and merit( 7aggerated and etra.agant statements unnecessary( )i.e it a trial and e con.inced o& its .alue as hundreds o& satis&ied suscriers are( My &orecasts are ased on Supply and Demand and a mathematical scienti&ic disco.ery o& a Time Factor 0hich tell '=7N stocks 0ill reach top or ottom and that#s '=AT you N77D T N'( During the early part o& March " ad.ised selling out long stocks and going short( n March 3th ad.ised co.ering and uying( =a.e you done as 0ell guessing: Some stocks are going higher6 others 0ill soon ha.e another decline( Stop guessing6 let Science select the est stocks to uy or sell( Daily Stock etter .ia Airplane I%( per month( !/%E Stock Forecast reduced to I+o.er shorts and uy around !38(> Send 4%
The Brooklyn Standard Knion o& Brooklyn Ne0 ?ork ;une ! !/%3( This ad.ertisement 0as pulished on the same date 0ith slight stylistic di&&erences in The Glain Dealer o& +le.eland hio and The +onstitution o& Atlanta )eorgia(
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W. D. Gann on
&or sample letters sho0ing the remarkale record on 'heat this year( Big mo.es are coming in 'heat and +otton( et me get you in at right time( Daily +ommodity etter .ia Airplane I%( per month( )rain Forecast reduced to I
Wh$ 5ou Ha+en&t Made Mone$ n Stocks
Because you did not no0 the Master Time Factor and relation o& T"M7 to GR"+7 and HKM7 0hich e.ery in.estor and trader should N'( ?ou ha.e ought '=7N you should ha.e sold short( =' ?K +AN MA7 GRF"TS By studying and learning 0hen to BK? and S7 according to T"M7 GR"+7 and HKM7 o& Sales( Then you 0ill trade on Mathematical Science and no longer guess and gamle on hope( Begin the Ne0 ?ear right 5oin my +lasses in Ne0 ?ork or Florida( Take my +orrespondence +ourse on Scienti&ic Forecasting o& Stocks and +ommodities( earn my Master Factor and Trend "ndicator and start trading right( nly those 0ho can 9uali&y 0ill e accepted( 'rite &or details and re9uirements( '( D( )ANN // 'all St( Ne0 ?ork N( ?(44 43 44
The Seattle Daily Times o& Seattle 'ashington April %- !/%E( The Tampa Triune o& Tampa Florida ;anuary %% !/33(
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THE MASTER TIME FACTOR
Stocks6 Cotton6 Wheat
'e ha.e persistently ad.ised purchases o& stocks cotton 0heat ruer and other commodities ecause our study o& asic conditions indicates a radical change &or the etter and our +ycle Theory and mathematical Master Time Factor indicated uptrend( Business is getting etter and some stocks and commodities are ehind the market and should go higher in the near &uture( Send I!E &or TriC0eekly Stock etter one month and get our selection o& lo0Cpriced stocks to uy( Daily Telegraph Ser.ice I3 monthly( Gersonal Ser.ice I- per month( TriC 0eekly +ommodity etter I!E per month( >Truth o& the Stock Tape and 'all Street Stock Selector> @ These ooks gi.e .aluale trading rules1 contain 4! charts1 I- prepaid( For proo& o& our accuracy send &or our letters issued early in March( Ask &or AGC!( ' D )ann Scienti&ic Ser.ice "nc( // 'all Street Ne0 ?ork N(?( 4E
WHEN TO SE11
To kno0 the time to sell and secure pro&its is 5ust as .ital as to kno0 0hen to uy near ottoms( ur Ser.ice ased on a scienti&ic mathematical Time Factor enales us to tell 0hen time cycles run out and stocks make top( N7T '77 is .ery important( ?ou 0ill need epert ad.ice on 0hat to do( Some lo0Cpriced stocks going higher 0hile some highCpriced stocks react( Send I!E &or TriC0eekly etter one month and get uying and selling indications or send I3 &or Daily 4E
The Glain Dealer o& +le.eland hio April %3 !/33(
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W. D. Gann on
Telegraph Ser.ice( Special Gersonal Ser.ice I- per month( +TTN AND '=7AT1 MoneyCmaking mo.es in these and other commodities i& you N' the right time to uy and sell( +ommodity etter I!E monthly( Groo& o& our accuracy &ree( Ask &or MMCR3( '( D( )ann Scienti&ic Ser.ice "nc( // 'all Street Ne0 ?ork N( ?( 4-
B/5ING TIME
The time &or ottom o& the net reaction in stocks 0ill e .ery important ecause certain stocks 0ill e good uys &or sustantial ad.ances 0hile other stocks 0ill remain dull or rally .ery little( ?ou cannot determine uying days or select the est stocks to uy i& you depend on tips or guess0ork( ur Mathematical Scienti&ic Master Time Factor has stood the test and you can depend on it to call the net uying time( T0o lo0Cpriced stocks selling elo0 E 0ill soon e good to uy &or long pull pro&its( ne highCpriced industrial 0ill go .ery much higher( Send I!E &or one month#s suscription to TriC0eekly etter and get this list o& est stocks( Daily Telegraph Ser.ice I3 monthly( +TTN AND '=7AT1 These and other commodities 0ill continue acti.e and o&&er some good trading opportunities( 'e can gi.e you net uying dates and prices( TriC0eekly +ommodity letter I!E monthly( >'A STR77T ST+ S77+TR> @ This ook and >Truth o& the Stock Tape> comined contain 4! charts 0ith practical trading rules that 0ill help you make a greater success in trading @ price I-( Money ack i& not satis&actory( Groo& o& accuracy &ree( Ask &or MC% 4-
The Glain Dealer o& +le.eland hio May !4 !/33(
The Stock Market is oiling and 0e ha.e had suscriers uying stocks right along( The time 0ill come to sell &or a 9uick reaction and 0ith our Master Time Factor ased on Mathematical Science 0e can tell you 0hen to take pro&its and uy again( Send I!E &or TriC0eekly Stock etter one month or send I3 &or Daily Telegraph Ser.ice one month( +TTN AND '=7AT1 These and other commodities 0ill continue acti.e and o&&er money making opportunities( 'e can help you to pick the uying and selling points( TriC0eekly +ommodity etter I!E per month( Daily Telegraph Ser.ice I3 per month( Gersonal Ser.ice I- per month( Groo& o& our accuracy &ree( Ask &or C'( D( )ann Scienti&ic Ser.ice "nc( // 'all Street Ne0 ?ork N( ?( 48
STOC0S / OR DOWN4
'ill this ad.ance continue &or a long time or 0ill the unepected happen and cause a sharp sudden decline: Don#t guess gamle on hope or &ollo0 tips( )et our scienti&ic ad.ice ased on our Master Time 4< 48
The Glain Dealer o& +le.eland hio May %! !/33( The Glain Dealer o& +le.eland hio May %8 !/33(
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W. D. Gann on
Factor and let us steer you clear o& pit&alls( Some stocks 0ill go higher 0hile others react( ?ou need our Selected ist o& stocks ehind the market( -333 @ 'hat does it mean: Send I!E &or TriC0eekly Stock etters one month and 0e 0ill tell you( Net Monday .ery important( Daily Telegraph Ser.ice I3 monthly( >'A STR77T ST+ S77+TR> @ This ook and >Truth o& the Stock Tape> comined contain 4! charts 0ith practical trading rules that 0ill help you make a greater success in trading @ price I-( Groo& o& accuracy &ree( Ask &or ;C!( '( D( )ann Scienti&ic Ser.ice "nc( // 'all Street Ne0 ?ork N(?( 4/
Methods (or Makng Mone$ n Stocks6 Cotton and Gran
?ou lose money trading ecause you do not kno0 the rules the silent men o& 'all Street use and the Master Time Factor and relation o& T"M7 to GR"+7 and HKM7 o& sales 0hich e.ery in.estor and trader should N'( 'ith these rules you 0ill e 0ith the trend and sell short 0hen the trend is do0n and uy 0hen the trend is up( ?K +AN MA7 GRF"TS By learning my Mechanical Method and Trend "ndicator or my Forecasting Method and Master Time Factor( 'hen you trade on Mathematical Science you 0ill make pro&its( 'hy not stop guessing and gamling on hope: Take my course o& instruction and learn to trade according to rules in Stocks +otton and )rain( ?ou can take the course y Mail in +lasses and Gersonal "nstruction( 4/
nly those 0ho meet re9uirements 0ill e accepted( 'ill e in your part o& the country soon to teach +lasses( Send &or +erti&ied Accountant#s report o& pro&its made trading according to this method details and terms( Dept( MC/( '( D( )ANN F"NAN+"A S+= // 'all St( Ne0 ?ork N( ?(E
SCIENCE 3S. G/ESSWOR0
"& you &ollo0ed statistics tips or guess0ork you proaly did not uy stocks early in March 0hen our ads appeared all o.er the Knited States headed >Reconstruction and Reco.ery(>E! The &astest ad.ance in years &ollo0ed Gresident Roose.elt#s inauguration and our Master Time E E!
The Times Gicayune o& Ne0 rleans ouisiana ;une 8 !/33( From The Dallas Morning Ne0s o& Dallas Teas March !% !/331 R7+NSTRK+T"N R7+H7R?
Ne.er in the history o& the Knited States has a Gresident took o&&ice sic 0ith the country in such an unsettled state( " elie.e that Gresident Roose.elt is the man o& destiny to lead us ack to prosperity( =istory repeats and my study o& Time +ycles indicates that 0ithin si months conditions 0ill ha.e greatly impro.ed and 0e 0ill look ack on March 4th as the date 0hen the trend turned &or the etter( No0 is the time &or us all to ha.e &aith and 0ork together as 0e ha.e in time o& 0ar and America 0ill lead the 0orld ack to etter times( Fortunes can e made y those 0ho uy the right stocks and commodities 5ust as they ha.e een in pre.ious panics( TRKT= F T=7 ST+ TAG7 'all Street Stock Selector and the Tunnel Thru the Air 0ill gi.e you practical rules &or success&ul in.estment trading( Grice I-( prepaid( Money ack i& not satis&actory( 'hat groups o& stocks 0ill e &uture leaders mailed &ree( Ask &or -C+( '( D( )ANN // 'all Street Ne0 ?ork(
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Factor &orecast it( "& you gamled on hope you proaly did not sell out stocks last Monday and go short ecause you did not kno0 that a ig smash 0as coming ut 0e did ecause the time cycle 0as up(E% 'e told suscriers the reak 0ould come this 0eek( Send &or copy o& last Monday#s market letter and see &or yoursel&( The &uture holds ig moneyCmaking opportunities i& you N' the right stocks to uy and sell at the right time( 'hy not stop guessing and suscrie to our Ser.ice: !/33 Stock Forecast tells you 0hen net high and lo0 prices 0ill e reached6 price reduced to I4E &or alance o& !/33( TriC0eekly Stock etter I!E per month( Daily Telegraph Ser.ice I3 monthly( Gersonal Ser.ice I- per month( +TTN AND '=7AT1 These commodities 0ill continue .ery acti.e and you can make money i& you kno0 the net uying date( TriC0eekly etter I!E per month( Daily Telegraph Ser.ice I3( !/33 )rain Forecast I4E( +otton Forecast I4E( >'A STR77T ST+ S77+TR> @ This ook and >Truth o& the Stock Tape> comined contain 4! charts 0ith practical trading rules that 0ill help you make a greater success( Grice I-( Groo& o& accuracy &ree( Ask &or ;C!4<(
E%
This ad.ertisment appeared on a Tuesday( "& )ann rushed this copy out the re&erence to >last Monday> means >yesterday> ;uly %4 !/33( "& y >last Monday> he means >a 0eek ago Monday> then the re&erence 0ould e to ;uly !< !/33( Note )ann#s peculiar use o& the term >the time cycle 0as up> the 0ord >up> in this contet presumaly meaning >&inished> since the net mo.e in the market 0as a sellCo&&( )ann &re9uently speaks o& a cycle eing >up> in this manner 0here 0e might instead epect him to say that a ne0 cycle 0as eginning( The emphasis that )ann gi.es to the 7ND o& a cycle is striking( +onsider &or eample the &ollo0ing1 >'hen the time cycle is up neither Repulican Democrat nor our good Gresident =oo.er can stem the tide( "t is a natural la0( Action e9uals reaction in the opposite direction(> Wall Street Stock Selector !/3 appendi >!/%/ Annual Stock Forecast> p( !<(
Money is made at critical times y ha.ing correct ad.ice( 'e 9uote &rom our market letter o& ;uly !81 >The day o& reckoning is not &ar o&&( The time is up &or a sharp reaction and " am con&ident that it 0ill come e&ore the end o& this 0eek( The short interest in the market is .ery small( This makes the technical position .ery 0eak( 7ither sell out your long stocks at the market or protect 0ith close stopCloss orders(> =undreds o& people recei.ed this letter and can .eri&y it( ne suscrier 0rote1 >'ould like to let you kno0 that the letters o& the past &e0 days 0ere 0orth the year#s price as " made money instead o& losing in this crash as so many got panicky(> =o0 much 0ould this letter ha.e een 0orth to you: "t 0ould ha.e sa.ed your capital and helped you make ig pro&its in the 0orst crash in years( ur mathematical Master Time Factor &orecast this reak 5ust as it &orecast March !st !/33 &or ottom &or a ig ad.ance(E4 ?ou can depend on our scienti&ic &orecasts in &uture( ur !/33 Stock Forecast issued No.emer !4 !/33 called ;uly !< &or top o& ad.ance and ;uly %! as lo0 o& a sharp decline( The stock a.erages reached high ;uly !< and lo0 ;uly %!( nly Science can sho0 such accurate results( 'hy not stop guessing and gamling on hope: )i.e our Ser.ice a trial and con.ince yoursel& that 0e can help you make money( !/33 Stock Forecast reduced to I4E &or alance o& !/33( TriC E3 E4
The Dallas Morning Ne0s o& Dallas Teas ;uly %E !/33( >n March ! !/33 y the use o& his Master Time Factor Mr( )ann &orecast ottom &or stocks and commodities and ad.ised uying &or a ig ad.ance as sho0n y the market letters issued March ! and 3 gi.en elo0( This is another proo& o& the great .alue o& Mr( )ann#s disco.ery o& a Master Time Factor(> Gromotional ooklet entitled >Scienti&ic Stock Forecasting or arge Gro&its on Small Risks> p( /(
Money is made at critical times y ha.ing correct ad.ice( 'e 9uote &rom our market letter o& ;uly !<1 >The day o& reckoning is not &ar o&&( The time is up &or a sharp reaction and " am con&ident that it 0ill come e&ore the end o& this 0eek( The short interest in the market is .ery small( This makes the technical position .ery 0eak( 7ither sell out your long stocks at the market or protect 0ith close stop loss orders(> =undreds o& people recei.ed this letter and can .eri&y it( ne suscrier 0rites1 >'ould like to let you kno0 that the letters o& the past &e0 days 0ere 0orth the year#s price as " made money instead o& losing in this crash as so many got panicky(> =o0 much 0ould this letter ha.e een 0orth to you: "t 0ould ha.e sa.ed your capital and helped you make ig pro&its in the 0orst crash in years( ur mathematical Master Time Factor &orecast this reak 5ust as it &orecast March !st &or ottom &or a ig ad.ance( ?ou can depend on our scienti&ic &orecasts in &uture( ur !/33 Stock Forecast issued No.emer !4 !/3% called ;uly !< &or top o& ad.ance and ;uly %! as lo0 o& a sharp decline( The stock a.erages reached high ;uly !< and lo0 ;uly %!( nly Science can sho0 such accurate results( 'hy not stop guessing and gamling on hope: )i.e our Ser.ice a trial and con.ince yoursel& that 0e can help you make money( EE
The Glain Dealer o& +le.eland hio ;uly 3 !/33(
'ill stocks go up this Fall as most people epect or 0ill they decline: ?ou can not make pro&its i& you depend on guess0ork( 'hy not sustitute our scienti&ic ser.ice and let us tell you y our mathematical Master Time Factor 0hat is likely to happen: Many important e.ents are pending 0hich 0ill make stocks and commodities acti.e soon( Send I!E &or TriC'eekly Stock etter or I3 &or Daily Telegraph Ser.ice( +TTN AND '=7AT1 Acti.ity 0ill start soon( There 0ill e some moneyCmaking opportunities i& you N' '=7N to BK? and S7( TriC 'eekly +ommodity etter I!E per month( Daily Telegraph Ser.ice I3( >'A STR77T ST+ S77+TR> @ This ook and >Truth o& Stock Tape> comined contain 4! charts 0ith practical trading rules that 0ill help you make a greater success @ price I-( Groo& o& accuracy &ree( Ask &or S7C!%( '( D( )ann Scienti&ic Ser.ice "nc( // 'all St( Ne0 ?ork N(?(E< EE<
The San Antonio ight o& San Antonio Teas ;uly 3 !/33( The Dallas Morning Ne0s o& Dallas Teas Septemer ! !/33(
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STOC0 TREND 89:;
Many important e.ents in !/34 are likely to cause 0ide &luctuations in acti.e stocks( ?ou 0ill need epert scienti&ic mathematical ad.ice to pre.ent losses and help you make pro&its( 'ith our Forecast you can plan your market campaign ahead( This Forecast is ased on the cycle theory and our disco.ery o& a mathematical time &actor that has pro.ed remarkaly accurate o.er a long period o& years and you can depend on it( ne group o& stocks 0ill lead ad.ances in !/34( Stock Forecast I!6 0ith Tri0eekly etter I% per year( Tri0eekly etter alone I!E per month( !/34 +otton )rain Ruer and Sil.er Forecasts I! each( Groo& o& accuracy &ree @ Ask &or D7C%% '( D( )ann Scienti&ic Ser.ice "nc( // 'all St( Ne0 ?ork N(?(E8
STOC0 MAR0ET METHODS
'hen you uy or sell stocks cotton 0heat or other commodities you need to eliminate tips guess0ork and trading on hope( 7.ery man should ha.e a practical trading plan that 0ill enale him to S77 and N' &or himsel& then he can act 0ith con&idence and make pro&its instead o& losses( My mechanical method and trend indicator and my &orecasting method ased on my disco.ery o& a Master Time &actor ha.e stood the test o& time( " ha.e made ig pro&its 0ith them( ?ou can learn my rules and make a success( E8
The Dallas Morning Ne0s o& Dallas Teas Decemer 3! !/33(
3-
THE MASTER TIME FACTOR
" ha.e had o.er thirty years# eperience in 'all Street am author o& TRKT= F T=7 ST+ TAG7 and 'A STR77T ST+ S77+TR( 'ill teach classes or gi.e personal instruction &or trading in stocks or commodities( My mechanical method and trend indicator can e learned in a short time y correspondence( 'rite or call &or certi&ied pulic accounts report o& pro&its made terms and details( Ask &or R<( '( D( )ANN
Trend /" < Bu$ Stocks4
Stocks reached a.erage lo0s on Septemer !<( n Septemer !/ 0e issued a .ery ullish letter and since then stocks ha.e had a &air ad.ance( Many selected stocks are going higher as our Master Time Factor indicates( Don#t 0ait and uy stocks on top( Send I!E &or TriC 0eekly letter one month and get our list o& Selected Stocks to Buy( !/34 Stock Forecast reduced to I%E &or alance o& !/34( ur stock letter o& Sept( !< mailed &ree( Ask &or RC-( '( D( )ann Scienti&ic Ser.ice "nc( // 'all Street Ne0 ?ork N( ?( -
War on Wheat7Cotton
=istory has al0ays repeated in time o& 'ar in the past and 0heat E/ -
The Miami Ne0s o& Miami Florida ;anuary !% !/34( The Glain Dealer o& +le.eland hio Septemer 3 !/34(
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cotton and other commodities ha.e ad.anced sharply(-! 'heat has &luctuated 4Ec per ushel during the past three months( +otton has mo.ed % points since August 3th( )reater money making opportunities than these 0ill occur i& another 0ar reaks out in 7urope 0hich is more than possile( "n&lation in this country 0ill cause commodities to ad.ance &urther than stocks( ur disco.ery o& a Master Time Factor enales us to tell '=7N etreme high and lo0 prices 0ill e reached( ?ou need epert ser.ice to protect you against losses( Send I!E &or one month#s suscription to the Tri0eekly +ommodity etter and get in the net pro&it paying mo.e( The Tri0eekly Stock etter gi.ing list o& the est stocks to uy and sell is I!E per month( 'rite &or terms on Gersonal and Telegraph Ser.ice( Ask &or RC3( '( D( )ann Scienti&ic Ser.ice "nc( 8% 'all Street Ne0 ?ork N(?( -%
STOC0S TO
?ou 0ill need help soon i& you ha.e ought stocks( ?ou 0ill 0ant to kno0 0hether to sell out and go short or s0itch( ur Master Time Factor 0hich called ottom last March 0ill get you short o& stocks &or ig pro&its( Send I!E &or TriC0eekly etter one month 0ith list o& est stocks to sell short( There is no time to lose @ send your suscription no0$ Gersonal Ser.ice 0ill keep you in ! to 3 acti.e stocks( 'rite &or details( Ask &or KC!(
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>" ha.e &igured out the repetition o& each cycle 0hen 0ars 0ill come( " elie.e that the 0heat prices &orecast coming 0ars( Through my study o& the Bile " ha.e determined the ma5or and minor time &actors 0hich repeat in the history o& nations men and markets(> '( D( )ann The Tunnel Thru the Air p( <( -% The Dallas Morning Ne0s o& Dallas Teas ctoer % !/3E(
That is 0hat 0e ad.ertised and stocks ha.e declined ! to 4 points since our Master Time Factor called April 8th !/3- &or time &or Bear Market to start( 'ho else ga.e such accurate ad.ice: ur suscriers ha.e ig pro&its( ?ou may e long o& stocks and holding on and hoping( ?ou need to kno0 0hen a rally 0ill come and ho0 long this ear market 0ill last( Don#t guess( Send I!E &or TriC'eekly etter one month and let us tell you 0hat stocks to sell short( N7' ST+ TR7ND D7T7+TR @ n sale April !st @ &orecast a ig decline in stocks( This ook gi.es practical rules &or determining the trend o& stocks( Grice I3(( Record o& accuracy &ree( Ask &or +C!8( '( D( )ann Scienti&ic Ser.ice "nc( 8% 'all Street Ne0 ?ork N( ?( -4
T!e Te##s on Stocks
'hen our Master Time Factor indicates stocks are top they go do0n despite good ne0s( From all o.er the country people 0rite us that our Ser.ice 0as the only one that called April 8th !/3- as date &or decline to start 0hich pro.es that science eats statistics and -3 -4
The Tampa Triune o& Tampa Florida Feruary %3 !/3-( The Dallas Morning Ne0s o& Dallas Teas May 3 !/3-(
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guess0ork( ?ou need to kno0 0hen net time period is up and 0hat to do 0ith stocks you no0 hold( A Mystery Stock 0ill go opposite the trend( Delays may pro.e costly( Send I!E &or one month#s trial suscription and get our list o& pro&itCpaying stocks( N7' ST+ TR7ND D7T7+TR @ on sale April !st @ &orecast a ig decline in stocks( This ook gi.es practical rules &or determining the trend and tells 0hy the Do0 Theory is osolete( Grice I3(( Record o& Accuracy &ree( Ask &or illegile '( D( )ann Scienti&ic Ser.ice "nc( 8% 'all Street Ne0 ?ork N( ?( -E
STOC0S BREA0S COMING4
ur Master Time Factor and +ycle Theory indicate a ig decline in stocks( 'ill the reak come e&ore 7lection or a&ter0ards: That is 0hat e.ery in.estor and trader should kno0 to protect his capital and make pro&its( ?ou can depend on our !/3- Stock Forecast to gi.e you the right time to sell stocks( Grice reduced to I4 &or alance !/3-( TriC0eekly etter gi.ing est stocks to uy and sell I!E monthly( There is no time to lose @ mail your suscription no0$ +TTN AND )RA"N @ ur Forecast called the ig rise in 'heat +orn and +otton( The commodities 0ill continue .ery acti.e and make a 0ide range o& &luctuation( ur Ser.ice 0ill gi.e you the right time to uy and sell( !/3- )rain Forecast I46 +otton Forecast I46 TriC0eekly +ommodity etter I!E per month( Gersonal Ser.ice and Daily telegrams I3 monthly( Ask &or Booklet NC<(
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The Glain Dealer o& +le.eland hio May ! !/3-( The illegile portion 0as the control letter and numer to send 0ith one#s re9uest(
The net decline in stocks 0ill e caused y 0hat most people do not epect and cannot see( They think that cheap money and large margins 0ill protect them( This is &alse security 0hich 0ill cause losses( 'e can tell y our +ycle Theory and Master Time Factor 0hen the net decline in stocks 0ill start( ?ou 0ill protect your capital and make pro&its y getting epert ad.ice on the est stocks to uy and sell( TriC 0eekly etter I!E per month( !/3- Stock Forecast reduced to I4 &or alance o& year( Gersonal Ser.ice on GartCo&CGro&it Glan I%E monthly( +TTN AND )RA"N 0ill continue to o&&er moneyCmaking opportunities i& you kno0 0hen to uy and sell( TriC0eekly +ommodity etter I!E per month( Booklet NC!%E &ree( '( D( )ann Scienti&ic Ser.ice "nc( 8% 'all Street Ne0 ?ork N(?( -<
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The Ne0 ?ork Sun o& Ne0 ?ork Ne0 ?ork ;uly !8 !/3-( Also pulished in The 'innipeg Free Gress o& 'innipeg Manitoa +anada ;uly !8 !/3- in 0hich the last sentence read >Ask &or Booklet N(!(>6 in The Dallas Morning Ne0s o& Dallas Teas ;uly !/ !/3- in 0hich the last sentence read >Ask &or Booklet NC%!(>6 and in The ansas +ity Star o& ansas +ity ansas ;uly !/ !/3- in 0hich the last sentence read1 >Ask &or Booklet NC%8(> -< The Glain Dealer o& +le.eland hio August % !/3-(
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Stocks Sgns o( Break
The stock market has gi.en three signs o& a reak( +an you read them and kno0 0hen the decline 0ill come: ur Master Time Factor tells '=7N time comes to sell( Some stocks are going higher( 'e elie.e one 0ill go up E points 0hile another 0ill decline E( ?ou cannot tell this &rom A.erages( Gro&itCpaying mo.es coming( ur Ser.ice 0ill help you catch them( Send I!E( &or TriC0eekly etter one month and get name o& t0o est stocks and keep posted on acti.e leaders( For details !/3< Forecast ask &or HC!-( '( D( )ann Scienti&ic Ser.ice "nc( 8% 'all Street Ne0 ?ork N(?( -8
89:= < Boo! or anc4
ur Stock Forecast ased on a Master Time Factor 0ill e a .aluale guide in !/3<( Some stocks 0ill decline %E to E points 0hile others ad.ance( This scienti&ic &orecast 0ill protect you against losses and help you to make pro&its( !/3< Stock Forecast I! or 0ith TriC 0eekly etter &or the year I!
-8
The Ne0 ?ork Sun o& Ne0 ?ork Ne0 ?ork No.emer !4 !/3-(
ur Master Time Factor has gi.en t0o signals that a decline is coming and 0hen the third signal comes it 0ill indicate a decline o& 4 points in the Do0C;ones "ndustrial a.erages( ?ou 0ill need our scienti&ic ser.ice to protect you against losses and help you to make pro&its( March 0ill e critical &or certain stocks( Try our Ser.ice and e con.inced$ Special rate( Send I! &or TriC0eekly etter and Selected ist o& est stocks to sell short and est lo0Cprice ones to uy( '( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork N( ?( <
T!e Te##s on Stocks
Again our Master Time Factor called Top on stocks in March and 0e strongly ad.ised selling short( This is a Bear Market( Many stocks are going lo0er( "& you are holding stocks you need epert scienti&ic ad.ice( Don#t guess and gamle on hope( Suscrie &or our ser.ice and let us tell you the right thing to do( TriC'eekly etter I!E per month( +TTN AND )RA"N 0ill ha.e moneyCmaking mo.es( Net 0eek .ery important( Send I!E &or TriC0eekly +ommodity etter( -/
The Glain Dealer o& +le.eland hio Decemer - !/3-( The same ad.ertisement appeared in The maha 'orld =erald o& maha Neraska on Decemer - !/3- 0ith the &ollo0ing change to the last sentence1 >Ask &or C%4(> < The Glain Dealer o& +le.eland hio Fe( %! !/3<(
"n Feruary 0e ad.ertised that 0hen the Third Signal 0as gi.en according to our Master Time Factor the Do0C;ones a.erages 0ould decline 4 points( They are do0n 3 points &rom March 4( 'ill they go do0n - e&ore it is time to uy: 'hy guess and lose @ suscrie &or our scienti&ic ser.ice and let it guide you right( "& you are holding stocks and hoping you need to kno0 0hat to do( Some stocks 0ill decline % points more( '=7N the time comes to uy 0e 0ill get you in the right stocks( Rush I!E &or TriC0eekly etter one month( !/3< Stock Forecast reduced to IE &or alance o& year( +TTN )RA"N AND RKBB7R 0ill continue acti.e and 0e can help you catch moneyCmaking mo.es( +ommodity etter I!E monthly( Groo& o& accuracy &ree( Ask &or C%-( '( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork N(?( <%
STOC0S NE2T MO3E
'e ha.e kept suscriers short since: March 8 !/3<( Thursday morning ;une 3 !/3< 0e co.ered our: shorts and ought certain
The Ne0 ?ork Sun o& Ne0 ?ork Ne0 ?ork April / !/3<( The TimesCGicayune o& Ne0 rleans ouisiana May !- !/3<(
44
THE MASTER TIME FACTOR
stocks( ?ou: need to kno0 the &acts and &ollo0 our: Master Time Factor then you 0ill make: pro&its( ur ser.ice has a record o& accuracy( Send I!E &or TriC0eekly etter one: month 0ith list o& est stocks to uy( ((( let us pro.e it to you( '( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork N? <3
BREA0 OR BOOM4
A&ter aor Day Sept( - !/3< a ig mo.e in stocks 0ill start ut 0hich 0ay: There 0ill e moneyCmaking mo.es oth 0ays( Don#t guess( ur Master Time Factor 0hich said uy ;une !8 and sell August !4 0ill keep you right( Net 0eek .ery important( Send I!E &or triC0eekly letter one month and get our list o& stocks &or 9uick pro&its( Groo& o& accuracy &ree( Ask &or +C8( '( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork<4
Stock Dec#ne O+er4
A&ter eing short &rom August do0n 0e co.ered shorts and ought stocks early 'ednesday ct( - !/3<( =o0 &ar 0ill the ad.ance go is 0hat you need to kno0 and 0hat stocks are est to uy( ?ou can depend on our Master Time Factor to get you out and short 0hen the rally is o.er( Send I!E &or one month#s suscription to our TriC'eekly etter and get name o& one est stock( <3
The Glain Dealer o& +le.eland hio ;une % !/3<( Ad.ertisement truncated ecause it appears at the edge o& a inding6 some guessing 0as re9uired as to the tet( <4 The Glain Dealer o& +le.eland hio August %% !/3<(
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Groo& o& accuracy &ree( Ask &or RC!! '( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork
T!e Factor Rght on Stocks
'e ought stocks last Monday ct( %E !/3< and 0rote suscriers there 0ould e a last ad.ance at the end o& 0eek( Again our MAST7R T"M7 FA+TR pro.ed right( <- ur !/3< Stock Forecast issued in No.emer !/3- said >There 0ill e a panicky decline in the last hal& o& the year and the Do0 ;ones a.erages should decline 8 points> 0hich they did &rom the high in March to ctoer lo0s( This Forecast 0ould ha.e protected you &rom losses and helped you make pro&its( There 0ill e another decline this year( ur !/3< Forecast 0ill tell you 0hen( Send I! &or Forecast to end o& year or send I!E &or TriC0eekly etter one month 0ith list o& est stocks to uy and sell( Groo& o& accuracy and comparison chart o& Forecast &ree( Ask &or FC %<(
The maha 'orld =erald o& maha Neraska ctoer ! !/3<( Also pulished in The Gittsurgh Gress o& Gittsurgh Gennsyl.ania ctoer ! !/3< 0ith the 0 in TriC 'eekly lo0erCcased and the last sentence reading1 >Ask &or RC!4(> <ne o& Mr( )ann#s pulicity rochures apparently 9uoting a ne0spaper article states1 >=is &orecast &or !/3< called &or a sharp ad.ance &rom ctoer !E to 3 and the Do0C;ones a.erage ad.anced %E points &rom ctoer !/ to 3(> The article goes on to say1 >Mr( )ann 0as asked ho0 it 0as possile to make such an accurate &orecast one year in ad.ance( =e stated that it 0as his o0n disco.ery o& a mathematical master time &actor and cycle theory 0hich enales him to tell 0hen certain cycles recur and great panics and ooms take place( =e said that the etent o& an ad.ance 0as determined y a theory ased on the la0 o& a.erages and that under certain circumstances stocks decline or ad.ance aout the same numer o& points(> *>earn Be&ore ?ou ose> p( !!,
4-
THE MASTER TIME FACTOR
'( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork<<
Stocks /" or Do>n 89:?4
?ou should plan your in.estments &or sa&ety as 0ell as pro&its( 'e elie.e our !/38 Forecast ased on our +ycle Theory and Master Time Factor 0ill pro.e a help&ul guide to you as our !/3< Forecast did &or hundreds o& in.estors( ur !/38 Forecast outlines e.ents likely to a&&ect prices and tells 0hen the recession in usiness should end( 'e ha.e selected one group o& stocks that should lead in the net Bull market( Grice o& !/38 stock Forecast I! or 0ith TriC0eekly etter I% per year( +TTN and )RA"N Forecasts I! each( TriC0eekly Stock etter I!E per month( +omparison chart o& !/3< Forecast and proo& o& accuracy &ree( Ask &or FC4 '( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork<8
T!e to Bu$ Stocks
"n March !/3< 0e predicted a panic in stocks ased on our master time &actor and cycle theory( The decline came 0ith some stocks do0n
The Brooklyn Daily 7agle o& Brooklyn Ne0 ?ork ctoer 3! !/3<( The same ad.ertisement appeared in The 'innipeg Free Gress o& 'innipeg Manitoa +anada on No.emer 3 !/3< 0ith the last sentence reading1 >Ask &or FC3%(> <8 The Ne0 ?ork Sun Decemer !! !/3<(
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W. D. Gann on
certain selected stocks o& a group that should lead the net ull market( 'e predict a change &or the etter in conditions during April( Send I!E( &or one month#s suscription to our triC0eekly letter and get our special list o& est stocks to uy( '( D( )ANN L SN "N+( 8% 'all Street Ne0 ?ork N(?(
T!e to Bu$ Stocks
Stocks reached a.erage lo0 May %
The Miami Ne0s o& Miami Florida April 3 !/38( Also pulished in the issue o& March 3 !/38( 8 The Gittsurgh Gress o& Gittsurgh Gennsyl.ania ;une %- !/38(
48
THE MASTER TIME FACTOR
RICE6 TIME6 3O1/ME and 3E1OCIT5
The mo.ement o& stock prices oeys a mathematical la0 o& cycles 0hich can e &orecast y the Master Time Factor @ Time is the most important element( 'hen time is up .olume starts and .elocity increases and prices mo.e up or do0n( ?ou 0ill lose money i& you guess or gamle on hope( ?ou can make money in stocks i& you kno0 the rules 0hen to uy and sell( My Master Forecasting Method 0ill teach you ho0( This is a practical method 0ith a pro.en record( A ne0 automatic trend indicator chart and F( F( F( method ne.er taught e&ore cut do0n the amount o& 0ork and make it easy to use the method( The $etho% can (e taught (y correspon%ence (ut it is (etter to take personal instruction if possi(le. Special su$$er rates to those "ho $eet $y re)uire$ents 'etails free.
'( D( )ANN 8% 'all Street Ne0 ?ork +ity8!
Se## , S>tch4
"n !/!4C!- Bethlehem Steel ad.anced sharply to <( Should it no0 e held a&ter a rise o& o.er 4 points: r should pro&it e taken in the Steels and certain other 0ar stocks &or s0itching to groups 5ust mo.ing into stronger position: This pro&itale market can also e dangerous particularly i& you don#t uy and sell the right stocks( No0 is the time to get competent accurate ad.ice( ur record o& accuracy etends through the immediate past and &or o.er % years( Stock etters contain list o& est stocks to uy including ' GR"+7D ST+S( 'eekly Stock etter only I- per month( TriC0eekly Stock etter I!E per month( Send your check( This is the time to act( 8!
The Mil0aukee ;ournal o& Mil0aukee 'isconsin ;uly 3 !/38(
4/
W. D. Gann on
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Stocks St## 1o>er4
=o0 &ar can this decline go: "s a ma5or ottom near or distant: 'hy go through !/4 lind&olded( ur Master Time Factor 0ill ans0er these 9uestions and keep you 0ith the trend 5ust as it is doing &or present suscriers( !/4 Stock Forecast 0ith monthly supplements including de&inite uying and selling ad.ice I!(( !/4 )rain Forecast I
War anc Co!ng4
The time o& guessing and hoping is passed( No0 is the time to N'$ et our Master Time Factor @ 0hich predicted the complete Bear year o& !/3< and Bull mo.es o& !/38 and !/3/ @ help you sol.e this critical market( This is the most important point in the market o& the 0hole year( ur ser.ice can easily e 0orth ! times its cost in 0hat it 0ill sa.e you @ much less 0hat it can make &or you( "t is realistic and de&inite( Best stocks to Buy or Sell are gi.en( !/4 Stock Forecast including monthly supplements and special letters @ reduced to IE(( TriC0eekly etter I!E per month @ ut don#t put o&& suscriing e sa&e @ not sorry( 8% 83
The +le.eland Glain Dealer o& +le.eland hio Sept( !< !/3/( The Ne0 ?ork Sun o& Ne0 ?ork Ne0 ?ork ;an( !% !/4(
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THE MASTER TIME FACTOR
'( D( )ANN L SN "nc( 8% 'all Street Ne0 ?ork84
B/5 BEST EACE STOC0S
Many stocks ha.e discounted peace and 0ill decline( thers ha.e yet to discount peace prosperity( ur Master Time &actor 0hich has pro.ed reliale at +ritical periods in the past 0ill tell you the time to Buy the est Stocks( Send I-( &or one month#s trial to 'eekly etter and get our Selected list( MR7 GRF"TS "N )RA"NS( 'ill peace ring in&lation or de&lation in +ommodities: Gro&its can e made 9uickly i& you N' the right time to Buy and Sell( TriC0eekly +ommodity letter 'ill gi.e you pro&itCpaying ad.ice( ne Month#s Suscription rate I!E(( Act no0 e&ore the ig mo.e starts( '( D( )ANN L SN "N+( 8% 'all St( Ne0 ?ork N( ?(8E
ROTECT 5O/R CAITA1 , ROFITS
'e 0arned you in recent ads that you needed to protect your capital and your pro&its and said that many stocks had gi.en danger signals( The market has pro.en that our Master Time Factor 0as right( Do you kno0 0hat to do no0 hold on and hope or sell out: "t does not pay to guess( .er &orty years o& eperience 0ill help you at this critical 84 The Gittsurgh Gress o& Gittsurgh Gennsyl.ania May !% !/4( 8E The Boston =erald o& Boston Massachusetts August !/ !/4E( Also pulished in The TimesCGicayune o& Ne0 rleans ouisiana on the same date(
