How to Make Money in Stocks

19A3265

How to Make Money in Stocks
A Winning System in Good Times or Bad

William J. O'Neil

Second Edition

McGraw-Hill, Inc.
New York San Francisco Washington, D.C. Auckland Bogota Caracas Lisbon London Madrid Mexico City Milan Montreal New Delhi San Jüan Singapore Sydney Tokyo Toronto

Library of Congress Cataloging-in-Publication Data

O'Neil, William J. How to inake money in Stocks : a winning System in good times or bad / William J. O'Neil.—2nd ed.
p. cm.

Includes index. ISBN 0-07-048059-1 (hc)
1. Investments. 2. Stocks.

Success in a free country is simple. Get a Job, get an education, and learn to save and invest wisely. Anyone can do it. You can do it.

—ISBN 0-07-048017-6 (pb) I. Title.

HG4521.0515

1995

332.63'22—dc20

94-28192 CIP

Copyright © 1995, 1991, 1988 by McGraw-Hill, Inc. All rights reserved.
Printed in the United States of America. Except äs permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data base or retrieval System, without the prior written permission of the publisher.

1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0

DOC/DOC DOC/DOC

909 909

7 6 5 4 (HC) 7 6 5 4 (PBK)

ISBN 0-07-048059-1 (hc) ISBN 0-07-048017-6 (pbk)

The Sponsoring editorfor this book was Philip Ruppel, the editing Supervisor was Fred Bernardi, and the production Supervisor was Suzanne Babeuf. It was set in Baskerville by McGraw-HiU's Professional Book Group composition unit. Printed and bound by R. R. Donnelley & Sons Company.

This book is printed on recycled, acid-free paper containing a minimum of 50% recycled, de-inked über.

Contents
Preface ix

Part l A Winning System: C-A-N S-L-I-M
Introduction: Learning from the Greatest Winners 1. C = Current Quarterly Earnings Per