Cited from the book, "TRUTH OF THE STOCK TAPE" by WILLIAM D. GANN
The Bible says "There is a time for everything." All the laws of Nature teach this. There is a time to sow and a time to reap. The four seasons of the year teach us that there is a reaping time and a sowing time, and that we can not reverse this order of Nature’s laws. Man does not try to grow oranges on Greenland's icy mountains; neither does he expect to cut ice from the tropical rivers in Florida, because it is out of season, time, and place.
It is the same with the stock market. There is a time to buy and a time to sell, and when this time comes, neither bunches of bears nor bevys of bulls with hot air, hope, optimism, extreme pessimism, depression or bad reports, can force prices above or below the zones of Supply and Demand, out of season. You must learn to go with the tide, and not against it. Discern the signs of the times, and do not get caught in the undertow when the tide is flowing out. Those who hesitate and are late in buying or selling in the last stage invariably have to take losses.
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