Word: chartist
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...Boswell of the small investor is Garfield Albee Drew, a controversial Boston chartist. He tries to call turns in the stock market by keeping careful tab on the odd-lotter-generally the small investor who buys and sells in lots of less than 100 shares. Mustachioed "Jeff" Drew (5 ft. 6 in. and 57), has an unusual attitude toward his subjects: he thinks that they are usually wrong. Small investors, says Drew, are most wrong just when the stock market is making important changes in trends; they sell when the market is getting ready to advance and buy when...
...religion of the stars is the stars' religion, and astrology in Hollywood is competing with the psychoanalyst's couch. "Psychiatrists trade on human anxiety," says one high-priced chartist of the skies...
...system is tailored to his job. Since he has to do trading from wherever he is dancing (he recently completed an Asian tour) he ignores tips, financial stories and brokers' letters, has never been in a broker's office. Basically, his approach is that of a chartist: he watches price and volume. But the only charts he keeps are in his head. He studies the weekly stock tables in Barren's, receives a nightly wire from his broker giving the high, low and closing of stocks he is following, as well as the Dow-Jones averages. When...
...predict the course of the stock market, Wall Streeters have tried everything from the height of tides to the frequency of sunspots. The most practical tools are charts that show the price changes of individual stocks as well as the action of the market as a whole. Chartists are powers in the Street; on what their charts show, institutions, mutual funds and thousands of individual investors buy and sell. In this select group of experts, who can often send a stock zipping up-or down -the leading chartist is generally recognized to be Edmund W. Tabell, 55, the tall...
...catastrophic, or even necessarily bearish." His explanation of the slide: "The market was just too high. General Motors and Du Pont, for instance, reached their high a year ago, and they've been going down ever since." Walston & Co.'s Research Director Edmund Tabell, a top chartist, added: "The market has lost upside momentum for 18 months. But this is not what I call a bear market. This is just a selective market...