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• Distribution Phase – This is the top of the market for a particular stock, sector, or general market. Supply overwhelms demand after the smart money sells their shares to the “greater fools” who buy at the top. Because there are no other buyers left to raise the price, a stock or sector cannot advance higher, and thus, will collapse under

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REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre The Sun Dial Press,. Inc. Garden City I was introduced to old McDevitt. He was telling the 

PDF | 515 Pages | English. This note explains the following topics: Introduction to Security Analysis, Risk and Return Concepts, New Issue Market, Stock 

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