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How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition, 4th Edition by William O'Neil

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CHAPTER 17Watching the Market and Reacting to News

Tape Reading Is Emotional

Ticker tape watching or being glued to your PC or watching the market on a TV channel all day can get dangerously emotional. Sometimes a stock keeps rising to the point where everyone—including you—is convinced it’s going “straight through the roof.” That’s when discipline is most needed because the stock is probably topping. When a stock’s merits are so obvious that it looks fantastic to everyone, you can be sure almost everyone who can buy it has already done so. Remember, majority opinion is rarely right in the stock market.

Winners in the stock market need perspective, discipline, and self-control above all else. Those who continually sit in front of the moving ticker ...

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