I figured that I must win if I held out. Of course at that time I had not developed my system of placing my bets or I would have put out my short line on a declining market, as I explained to you the last time. I would not then have lost so much of my margin. I would have been wrong but not hurt. You see, I had observed certain facts but had not le

Is the implied rule that if you find a common behavior between markets, you want to sell the one that is lagging as soon as it starts heading down? You absolutely want to put down a bet when a market acts terribly relative to everything else. When the news is wonderful and a market can’t go up, then you want to be sure to be short.