个股:
我先前说过你不应根据平均指数来预测个股的趋势。这些平均指数只是给出大概趋势，而且许多股票会遵循这个平均指数的趋势，但是，你应该研究每只个股，根据其几何角度线上的位置和时间周期来确定个股某年创出高点和低点的不同月份。

将任何个股绘制像基本预测图表一样的图表，使其跨越10年或20年，并观察其顶部和底部是如何形成的。我已经绘制出一张10年周期和一张20年周期的美国钢铁股票的图表，而且很高兴将这些图表向我预测课程班上的学生们展示，这样，他们便可研究个股，并确信理论对个股的应用效果甚至比对平均指数更佳。

任何人如果不相信时间周期会不断规则地重复以及可以预测未来市场波动（趋势）的话，他就不会去研究基本20年周期预测图表。结合周期学习压力线、支撑线、几何角度线、交易量，你可以在波动结束时确定趋势什么时候改变。

INDIVIDUAL STOCKS:
I have told you before that you should not depend upon the Averages to forecast the trend of individual stocks. These Averages give you the general trend, and while many stocks will follow this average trend, you should figure out each stock individually and let its position on geometrical angles and time periods determine the different months in the year when the stock is likely to make tops and bottoms.

Take any individual stock and make up a chart like the Master Forecasting Chart, carrying it across 10 years or 20 years, and see how its tops and bottoms come out. I have made up a chart of the 10-year cycles on U. S. Steel and also a chart of the 20-year cycles, and am always glad to furnish these charts to students of my Course on Forecasting so that they may study the individual stocks and be convinced that the theory will work on an individual stock even better than it will work on the Averages.

No man can study the Master 20-year Forecasting Chart and the cycles without being convinced that time cycles do repeat at regular intervals and that it is possible to forecast future market movements. By studying Resistance Levels, Geometrical Angles, and Volume of Sales in connection with the Cycles, you can determine when the trend is changing at the end of campaigns.