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Message: Words of Jesse Livermore

Words of Jesse Livermore

posted on Aug 11, 2008 01:43PM

“And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”

Hello All! Yes, this all sounds great, but the difficulty is not in the reading or hearing, but in the doing. Nobody starts out on a new diet or new marriage with the intent to fail, but many do. Believe in what you know and have faith in yourselves. Follow great teachings. As Eric King so often says, "Believe!" Now is the most difficult time. The sea is stormy and everyone around you is looking upon you disdainfully. Know who you are! Know what you are here for. Do not let the bull shake you off. Everything turns, and this will turn also. This bull market in common stocks, in financials, is like a cancer patient experiencing those last few days of euphhoria from all the morphine he's been pumping into his veins before the disease finally overwhlems him and destroys him. He is smiling just to feel that little bit of illusory wellness, but the cancer rages and the body is already eaten up and ready to die. Gold. Gold. The once and future money. Incorruptible. Non-alterable. Unable to sicken or grow weak. Unable to die. Be this way also in your understanding and belief. Sixty thousand years from now, no one on this planet will know what Microsoft was. But they will know what gold is. They will know gold and silver. Bull

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