The tape is used to fool traders, for often when stocks
look the weakest on the tape, they are the strongest as
accumulation is taking place. At other times when they are
booming and very active and appear the strongest, they are
really the weakest, because the insiders are selling while
everybody is enthusiastic and buying.
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Forewarned is forearmed! It is certainly better to tell the
public before depressing conditions start that they are coming
and let them prepare for them, than to wait until the
crisis is on and then tell them -- as the newspapers do -- what
caused all the trouble. Every effect is the result of a cause,
and the cause must exist long before the effect can be seen
by the general public. The proper thing to do is to determine
the cause and act on it, for if you wait until you can see the
effect, loss in the stock market is certain.
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