《股票作手回忆录·第九章·1907大恐慌·做空封神》第3节
The first thing I saw on the quotation board was that Anaconda was on the point of crossing 300. It had been going up by leaps and bounds and there was apparently an aggressive bull party in it. It was an old trading theory of mine that when a stock crosses 100 or 200 or 300 for the first time the price does not stop at the even figure but goes a good deal higher, so that if you buy it as soon as it crosses the line it is almost certain to show you a profit. Timid people don’t like to buy a stock at a new high record. But I had the history of such movements to guide me. Anaconda was only quarter stock--that is, the par of the shares was only twenty-five dollars. It took four hundred shares of it to equal the usual one hundred shares of other stocks, the par value of which was one hundred dollars. I figured that when it crossed 300 it ought to keep on going and probably touch 340 in a jiffy. I was bearish, remember, but I was also a tape-reading trader. I knew Anaconda, if it went the way I figured, would move very quickly. Whatever moves fast always appeals to me. I have learned patience and how to sit tight, but my personal preference is for fleet movements, and Anaconda certainly was no sluggard. My buying it because it crossed 300 was prompted by the desire, always strong in me, of confirming my observations.
注释摘要
要理解这一段在讲什么，我们得先回到 1907 年的美国，想象一下那时候一个股票交易员是怎么看到行情的。文中提到的 quotation board，就是行情板，在当年并不是我们今天面对的电脑屏幕，上面没有跳动的 K 线图。那时，股票价格的变化是通过电报线路从纽约证券交易所大厅传过来的，然后由人工用粉笔写在一块大黑板上，或者是在一种叫“纸带机”的机器上打印在窄…