Nov 25th 2014 – WD Gann – My Inspiration
I am re-reading WD Gann’s Master Stock Course and I was inspired to share a couple of quotes from the legendary trader that he wrote in the year before his death in 1955:
“My greatest pleasure in life comes from helping others.”
“If I can throw a single ray of light,
Across the darkened pathway of another;
If I can aid some soul to clearer sight,
Of life and duty, and thus bless my brother;
If I can wipe from any human cheek a tear,
I shall not then have lived in vain while here.”
“I am nearing my 76th birthday and I have realized happiness and success. I feel that I have not lived in vain, because thousands of people have benefited through my books and my course of instructions and I feel confident they will benefit through the rules in this course, SPECULATION – A PROFITABLE PROFESSION.”
— W. D. Gann, May 18, 1954
The poem quoted is stated as “Anonymous”, which is a bit of a shame, because someone should be regarded for such a brilliant piece of work. Below is the rest of it, enjoy:
If from my mind I can banish doubt and fear
And keep my life attuned to truth, love and kindness;
If I can scatter light and hope and cheer
And help remove the curse of mental blindness;
If I can make more joy, more hope, less pain
I shall not have lived and loved in vain.
If by life’s road side I can plant a tree
Beneath whose shade some wearied head may rest
Though I may never share its shade or see its beauty
I shall yet be truly blessed
Though no one knows my name, nor drops a flower upon my grave,
I shall not have lived in vain while here.
Market News:
U.S. stocks mainly rose on Tuesday, with the S&P 500 wavering around its peak, as data had the economy growing more than previously forecast in the third quarter, offsetting an unexpected drop in consumer confidence in November.
The energy sector weighed on the broad market, with oil prices falling to a four-year low two days ahead of an OPEC meeting that has investors considering prospects for the first reduction in production quotas since 2008.
Crude erased initial Tuesday gains after the head of Russia’s state oil producer said a drop below $60 a barrel would not mean Russia would have to ease its output. Crude-oil futures dropped $1.69 to $74.09 a barrel on the New York Mercantile Exchange.
Tuesday’s economic reports were mixed; the Conference Board’s index of consumer confidence declined to 88.7 in November from 94.1 the prior month, and the Commerce Department reported gross domestic product climbed at a 3.9 percent annualized rate, up from an initial 3.5 percent estimate.
Another report had a gauge of home prices in 20 cities climbing at a reduced pace in September
Apple’s market capitalization reached $700 billion, a major milestone for CEO Tim Cook as the consumer technology company’s value has doubled during his three years at the helm.
Tiffany & Co. shares rose after the jewelry reported earnings and revenue that missed estimates; Campbell Soup gained after posting an earnings and revenue beat.
Wednesday:
Earnings: Deere
8:30 a.m.: Jobless claims
8:30 a.m.: Durable goods
8:30 a.m.: Personal income
9:45 a.m.: Chicago PMI
9:55 a.m.: Consumer sentiment
10:00 a.m.: New-home sales
10:00 a.m. Pending-home sales
News Sources: CNN Money & CNBC