This is the title of a book I read a long time ago. The author, Nicolas Darvas, followed a system of buying stocks that won him a fortune. It's particurlarly amazing as he was a dancer and wasn't an expert in stock investing like Buffet or Soros. Also considering the fact that he started with $25,000 and turned it into six figures in the 1950s is even more amazing.
Nicolas happened to apply a strategy of buying as stocks went higher. Another words, he bought strength. When stocks proved that they were being accumulated, he bought more and continued buying at higher prices. Reminds me of the trend following strategy employed by the Turtles. This obviously only works in a bull market where prices continue to trend far longer than most people believe.
This brings me to the point of my blog today. I believe we are coming to the point where this strategy will work again in the stock market. No I'm not talking about the market in general. I'm talking about resource stocks - particularly mining companies. With gold testing $1000, we are entering a new era in which miners will zoom onward and upward. Are you ready?
This book is a good read and offers insight to how anyone can systematically build a fortune in a bull market.
Till next time.
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hahahah the title is so deceiving! I was like WHOA! thinking you made 2 million in the stock market. sigh.
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