Tops last three days; bottoms last a hundred days. (Markets peak quickly but take far longer to form a base.)
天井三日、底百日
Investors
Honma Munehisa
Born in 1724 in Sakata, Dewa Province, Japan, Munehisa Homma was an Edo-period rice merchant credited with inventing the prototype of the candlestick chart and regarded as the father of technical analysis. He amassed enormous wealth on the Dojima Rice Exchange in Osaka, and his 1755 work Sakata Senho Hiroku (The Fountain of Gold: The Three-Monkey Record of Money) discussed the importance of market psychology decades before Western behavioral finance. The Sakata Five Methods bearing his name remain widely referenced in global financial markets today.
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Honma Munehisa's Other Quotes
When the crowd is lost in a selling frenzy, it is logical that a short squeeze will follow; know this as an opportunity to buy.
Once the market 'knows,' the move is over. (Buy the rumor, sell the news.)
When everyone without exception is bullish, according to the way of trade, a peak is certain and decline must follow.
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