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Table of Contents
                            DEDICATED TO THE MEMBERS OF
	A Treasure House of Bayer
One Hundred Aphorisms or Truths of Claudius Ptolemy
	The Hundred Aphorisms
			Market Movements
		Three Days and Nights of Concentrated, Enthusiastic
Document Text Contents
Page 1



“A forum one can learn about Gann and other famous market forecasters”.

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A Treasure House of Bayer


George Bayer

Page 68

someone else hold cotton after April 13, or thereabouts for the rest of the month. This
even applies to all other markets which were analyzed above.

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Page 69

Market Analysis for May, 1937
By George Bayer

Mr. Bayer again obliges our many readers on the tips and downs of the market. The
accuracy of these forecasts can only be judged by taking the past forecasts and
following the news reports of the dates. Those of our readers who are especially
interested in Market movements are invited to write Mr. Bayer at 3216 Crescent St.,
Long Island City, N. Y.

All actions taken by readers on the comments given here are made at their own risk,
this being merely an opinion of what Astrological Law indicates "should happen."

DURING this month persons with a strong Saturn influence should make nice profits
in nearly all markets. The Jupiter people however, should not fare so well; they
always watch the balloon inflate to make a trip into the stratosphere, never thinking
that those ballooning up into it cannot remain there forever, but, of necessity, have to
come back to earth again.

We have had a rise that started five years ago from practically nothing and, while it is
my opinion that we do not go into a serious bear market as yet, we should get into
important reactions that, when completed and viewed in picture form later on, may
look like a nice baby bear market.

Since the January issue and subsequently in every issue that followed I have "tooted
the horn" about the 198 level of Dow Jones to become a top. This level was given by
me already more than two years ago when we still were way down, when Steel was
playing around 31 and Chrysler was chasing it. At that time traders did not believe it,
in fact, they believed it just as little as they believe at this time that we should turn
about face. But the world simply moves that way and nothing can be done about it.
"We all know that very few people are rich or become rich through their own efforts.
As soon as they begin to accumulate some sizable sum of money, something,
somehow, somewhere, comes along and takes it away again, usually faster than they
acquired it. A good many people have been fortunate enough to buy stocks rather low.
They count their paper profits by the hour, happy as a lark just yet. They cannot see a
storm brewing that starts with a small drizzle, but may end with "Donner and
Blitzen." The Scorpio I told you of last month has a sting; we should get this sting in
stocks during the entire month.

There is no movement as painful and wicked as a so-called "slide," which represents
the astrological sign of Scorpio. The usual procedure o' it (the development) is this;
the market near the top becomes quiet (the quiet before the storm). Gradually, prices
move lower. Bull traders assume it is a small reaction to be followed by higher prices
again (inasmuch as 98% of the traders are bullishly inclined as far as my experience
has shown). The next day, however, we go again a little lower, also the day
following. Traders gradually decide in their mind that things cannot go on like that,
because that "never happened yet" (they simply do not check back far enough to see
that it happens at well defined intervals). They say to themselves: We must get that
turn upward tomorrow. Unfortunately, we then make a gap downward the following
day. Due to the fact that they know nothing about the meaning of a gap (my book
"Time Factors," gives a whole chapter of rules on gaps, their meaning and use when

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Page 135

With stock prices, grain prices etc we also have to contend with three dimensions:
Price, volume and time. Where are the three lines, price, volume and time coming to a
"focus", if I may use that word? Their focus is either the Zero level or else the level of
an important low. Just like a mountain or a pyramid has a base on one side, a peak and
a base on the other side, so has a stock a bottom (low price), a peak (big volume) and
a bottom (end of cycle). We therefore cannot really speak of a bull market and a bear
market, but of a market cycle which contains both, the center of which represents the
peak, the big volume. The end of the cycle of one phase becomes at the same time
automatically the base or bottom of the succeeding cycle. So that "Time" as used in
my explanation is found on the side of the beginning of the upmove as well as on the
side where the mountain slope ends; in other words, both sides of the mountain
represent Time, or better still, everything is "Time"!

That is why in previous articles, as well as in my weekly analyses I constantly stress
the fact that "give me Time and all the rest are soapsuds". Provided we have Tine, we
hare also price and volume at a given moment. To distinguish between a top or a
bottom in stocks or wheat, I personally believe that not a great deal of knowledge is
required. When nobody wants them, it is buying Time; when everybody wants them,
it is selling Time. We may be several points off the very peak price when selling, but
when it comes to buying we should easily get within a short distance from major
lows. The slopes of the mountains start gradually on one side and end gradually on the
other side.

The secret why so many people, who never touch stocks for years, buy them at the
very peak and sell them at the very bottom is due to entirely different factors than
ignorance or greed. I have hinted at it some time ago. It is this way:

People through work produce funds. The funds are used to keep them in trim for food,
shelter, normal luxuries etc. Any of the funds that are produced beyond these

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Page 136

necessities are used to attempt a quick increase in wealth. They begin to speculate,
buy real estate, make journeys to distant lands, "invest" in this and that.

As the Water kettle evaporates the boiling water on "top" so does a boiling stock
market to the money of the traders. Because we have seen before that volume is on
the top of the mountain and not, at the bottom of it.

In the stock market just now written (Oct. 11th, 1938) we art boiling nicely and it
won't be long now that the flame will be reduced.

In fact, by the time you get this article into your hands it is still appearing as if it was
boiling well, although somewhat below the peak. During the month of December the
flame shall be extinguishing and a fast "cooling-off process" should occur, a decline is
in view down hill, on the other side of the mountain. It appears from astrological
indications that it is high time to take in the sails, or, if in the air, to take and unfurl a
parachute in a hurry.

The averages indicate below the 100 level, while we are now enjoying the 150 level.
A lot of people which I hear talk just now expect to sell their holdings at the time we
reach "above" 165 in the Dow Jones averages. Watch them sell as soon as we break
the 98 level . ...

I would not want to own stocks during December 1938.

Wheat indicates low levels during December: A bottom is indicated around December
10th, with a rally to follow the rest of the month. We cannot look for a big bull
movement in wheat for quite a while, at least that is what planets indicate and more of
a trading affair should ensue. Last July, I wrote in this magazine, at the time wheat
was selling around 80c that we are headed towards the 60c level. At this time, wheat
selling at 60c (October 11th, 1938) I am afraid we are apt to see it below 50c, coming
down gradually into lower brackets.

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