before a big bull campaign started. This was 58 months from 1929 top, 51 months from the 1930 top, 24 montha from 1932 low, and 95 months or ending of the 8th year in the new cycle from 1896. Going into the 9th year of this cycle, the market indicated a big bull campaign to follow in 1935 as explained before.

Go over individual stocks and work out their cycles in the same way. Look up the months when extreme highs and lows have been made and note the months from each bottom and top when fast advances and fast declines have taken place. By keeping up the time periods from important tops and bottoms, you will know when important time periods are running our and when a change in trend is likely to take place. Also watch the seasonal changes in trend around March to April, September to October and November to December.

All of this will help you to pick the stocks that are going to have the greatest advances and the ones that are going to have the

Sreatest declines. The more you work and study, the more you will earn and the greater profits you will make.

NBV YORK STOCK EXCHANGE PERMANENT CHART

This Master Chart is a square of 20, or 20 up and 20 over, making a total of 400, which can be used to meaeure days, weeks, months or years, and to determine when tops and bottoms will be made against strong angles as indicated on this permanent chart. This chart worke out the 20 year cycles remarkably well because it is the square of 20.

The New York Stock Exchange was incorporated on May 17, 1792. Therefore, we begin at "0" on May 17,1793. 1793 ends on "1" when the Stock Exchange was one year old. 1812 will come out on 20, 1832 on 40, 1852 on 60, 1872 on 80, 1892 on 100, 1912 on 120, and 1932 on 140, Note that 140, or 7 times 20, in 1932 is equal to a 90 degree angle and is at the top of the 7th zone or the 7th space over, which indicated that 1932 was the ending of a bear campaign and great cycle and the starting of a bull market. We would watch for a culmination around May to July, 1932.

You will notice that the numbers which divide the square into equal parts, run across 10, 30, 50, 70, 90, 110, etc, and that the year 1802 comes out on 10, the year 1822 on 30, the year 1842 on 50. the year 18 5 ) 70. Note that the year 1861, when the Civil War broke out, was on the number 69, which is on a 45 degree angle. Then note that 1882 ended in May on the 90 degree angle and at the 1\2 point, 180 degree angle, running horizontally across.

Again in 1902 it was at 110, the 1/2 point, and in 1903 and 1904 hit the 45 degree angle. Note that the years 1920 and 1921 hit the 45 degree angle on number 129, and 1922-the first year of

the bull market-was at 130 at the 1/2 point.

Note that 1929 was on the 137th number, or 137 month, and hit an angle of 45 degree, and that the year 1930 was at the 1/2 point on the 4th square, a strong resistance point, whioh indicated a sharp, severe decline.

Note 1933 was on 141 or the beginning of the 8th zone and at the center or half way point of the 2nd quarter of 20, indicating activity and fast advances and fast declines.

The years 1934 and 1935, ending in May, were on 142 and 143, and 1935 comes out on the 45 degree angle at the grand center in the 8th zone and at the half way point of the 2nd square, going to 1/2 of the total square, which indicated great activity.

Yo u can a 1 so use this ha r t f rom Oc to be r 12, 1492, whe n Columbus discovered America. 1892 was end of 400 years or square of 20. 1932 was 40 years in the new square of 20.

You can use this equare of 20 for time periods on individual stocks and for price resistance levels.

If you will study the weeks, months, as well as the years, and apply them to these important points and angles, you will see how they have determined the important tops and bottoms in the past campaigns."