Identifier: wallstreetguide00jlmc (find matches)
Title: Wall Street guide /
Year: 1902 (1900s)
Authors: J.L. McLean & Co.
Subjects: Stock exchanges
Publisher: New York: J.L. McLean
Contributing Library: Columbia University Libraries
Digitizing Sponsor: The Durst Organization

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o small item, as it is figured that theaverage speculator will pay as much in commissionseach year as his account amounts to at the start.It is, however, true that in some instances the Con-solidated market will be one-eighth over or one-eighth under the regular market; but while thisworks to a disadvantage occasionally, it also worksto ones advantage at other times. True, the quotations on the New York Stock Ex-change have a great deal of influence on prices on thefloor of the Consolidated, for the reason that trans-actions on the latter are seldom so heavy as they areon the older exchange, and in operating on this ex-change you are also enabled to trade in smaller quan-tities at the market prices, while on the New YorkStock Exchange if you try to buy or sell ten sharesof any stock you will, in all probability, get yourtrades executed at from one-half to one point awayfrom the last quotation; this in addition to payingtwice the regular charges of Consolidated Stock Ex-change brokers.
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CONSOLIDATED STOCK EXCHANGE OF NEW YORK. WALL STREET GUIDE. 21 A FEW POINTS WORTHREMEMBERING. Here are a few brief rules which it is well to keepin mind, in addition to careful observation as tomarket movements already explained: 1. Remember a bear market always begins wheneverything is brightest and the public most bullish,and when volumes of transactions are largest on theadvances. 2. A bull market begins at the end of a bear cam-paign, when everything is darkest and the volumesof transactions are abnormal, at which time thepublic is selling stocks. 3. After an extreme movement in either direction,accompanied by a large volume of transactions, anda reaction of from two to five points occurs, pricesare almost sure to go back to near the former ex-treme point within a few days, and this is the placeto buy or sell stocks, as the case may be. 4. Remember by the time the news gossip reachesyou it is very apt to be stale, and is probably sentout for the very purpose of getting the public

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