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TFC Commodity Trading Forum

Re: S&P
In Response To: Re: S&P ()

That chart was the wheat chart. Gann had, supposedly, gone to London and spent countless hours, days, weeks, and months, putting together the price of wheat, figuring the current U.S. dollar's supposed backing in gold for pricing. It went back to 1200 something A.D. It was the price of wheat from the crusades. Interestingly, following the Revolutionary War .. and the 1812 conflict, wheat jumped to well over six bucks. Then, shortly following the U.S. Civil War ... it jumped to almost nine dollars per bushel. Three to four days wages for a bushel of wheat. Well, I guess you can always turn wheat into flour but you cannot eat gold. The stuff that they were selling, in their roadshow ... Two of Gann's books. A binder with three of Gann's courses (two commodity futures and one stock market trading course). Again, the calculators, square of eight, square of nine, square of twelve .. Etc., etc., etc.

What used to really amuse me was when someone would take a Commodity Perspective, draw a 45 degree angle on it and call it a 1X1 (one by one). I would attempt explain that a 1X1 was one price per one day. Such as one penny per day, in beans. Or a dollar a day in gold. And, the only way that you could have that is if your grid, say for beans, was one penny ... and the grids were perfectly square. Judas, how many years did I keep charts on K&E paper ... rolls and rolls and rolls of K&E paper. May-May, July-July, and Nov-Nov bean charts, weekly and monthly. For corn, May-May, July-July, Dec-Dec ... and wheat the same cycles. Cattle would be for fats, April-April, June-June, Dec-Dec, and Feb-Feb ... Feeder Cattle charts, Live Hog charts (later lean hogs), belly charts ... When I went overseas, I rented a storage container for my rolls and rolls of charts. When I returned to the Big Island ... up in the attic.