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So on one side of the buy - sell  spread is Benjamin Graham's "Mr Market"

Always on the wrong side

On the other side of the spread is the Composite Operator ...

ALWAYS on the right side

Strong and Weak hands

Tops and Bottoms

Bull and Bear Markets

What is our task ?

Four Phases of the Market

Accumulation ( A position has to be taken )

Mark-up        (Rallies have support)

Distribution  ( A position has to exited )

Mark-down    ( Rallies do not have support)

Signatures of Price Volume And Time

That We can observe , identify and measure.

Signs of Strength ( demand )

Signs of Weakness ( Supply )

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