Investing for Profit with TORQUE Analysis of Stock Market Cycles William C. Garrett Prentice-Hall, Inc. Englewood Cliffs, N.J.Prentice-Hall International, Inc.. London Prentice-Hall of Australia, Pty. Ltd., Sydney Prentice-Hall of Canada, Lid, Toronto Prentice-Hall of India Private Ltd., New Delhi Prentice-Hall of Japan, Inc., Tokyo © 1973, by PRENTICE-HALL, INC. Englewood Cliffs, NJ. All rights reserved. No. part of this book may be reproduced in any form or by any means, without permission in writing from the publisher. This publication fs designed 10 provide ssucate and suthovitatve information’ in Tard’ to “the. subject aver covered. It is old. withthe undersonling {Bat the publisher isnot engaged in rendering Tega Advice oF other expert aasiiance required, the Teves “ory competen profesional pecan should From the Declaration of Principles jointly opted "by commie ef the American ar” Slaton ont 4 Cammiice ‘of Publihers and Asoe Library of Congress Cataloging in Publication Date, Garrett, Willies ¢ Investing for profit with torque analysis of stock market cycles. Includes bibliographical references. 1, Stock price forecasting. 2. Stocks. Title. 101,6364637 332669322 73-3404, SEN 0-13-502625-3 Printed in the United States of AmericaPhoto by Irving Rosen Photography About the Author Like a lot of other people, Mr. Garrett bought his first stocks at a marker high—in 1957—and promptly saw them deteriorate. Since these stocks were highly recom- mended and had “good stories,” it was obvious that more than someone else's opinion was needed. This experience led him, first, to technical analysis, then to fundamental analysis and, finaity, 10 she development of cyclical anatysis methods, The last inguiry was spurred by introduction in the early 1960s o} the controversial “random walk” theory with which he disagreed because technical analysis of stock charts indicated there was an orderly progression of prices in the market. What wos missing, he decided, was an understanding of the underlying system of price progressions, Ten years later, after thousands of hours studying charts and making calculations, his TORQUE ANALYSIS methods revealed that there were identifiable cycles in the market and that their effect on prices could be measured. Before becanting a stockbroker in 1965, Mr. Garreti was a journalist by profession with a smattering of engineering knowledge thrown in. He studied engineering at Towa State University and journalism at the University of Missouri. He served in the tank destroyers in World War I and afterward joined the editorial staff of the Honolulu Star-Bulletin, later becoming city editor. He was called back to service in the Korean conflict, and, on return, joined the advertising staff of the paper, resigning as retail advertising manager in 1961 to spend jull time studying the market. He is currently a stockbroker with Walston & Co. in Honolulu, 5