Business Forecasting: The Principles and Practice of Forecasting Business and Stock-Market Trends with Especial Reference to Business Cycles

By Lewis H. Haney | Go to book overview

XV
Intermediate Movements in the Stock Market

Thus far we have been dealing with major market swings, which are governed by fundamental conditions in business and finance and which last for two or three years. There are other swings, however, that ordinarily extend over periods ranging from a few weeks to three or four months, which present sufficiently uniform phenomena to warrant some treatment in a discussion of scientific forecasting.

These shorter swings may be called intermediate movements. They occur in all free markets in which the forces of supply and demand vary, and are caused not by fundamental business conditions but by current business news and by the so-called technical condition of the market itself, by the shifting balance between demand and supply. All speculative markets at times get "overbought" or "oversold," supply pressure exceeding demand intensity in the one case, and vice versa in the other.

Stocks, however, are peculiar commodities. As regards trading in the market at any given time, there is no consumption and no production in the sense that there is of steel, cotton, and the like. There are no separate producers and consumers, no separate quantity supplied and quantity demanded. The seller and the buyer are, or may be, the same person. Thus demand and supply in the stock market are peculiarly interrelated and depend on much the same forces. Consequently changes in demand and supply have a cumulative effect.

Since we cannot separate demand and supply in the usual way, by quantitative measurements, there are only two recourses. In the first place, we can deduce the balance between demand and supply from the action of the market itself.

-336-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Business Forecasting: The Principles and Practice of Forecasting Business and Stock-Market Trends with Especial Reference to Business Cycles
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 380

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.