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Reminiscences of a Stock Operator<br />
ought to do?"<br />
Old Turkey would cock his head to one side, contemplate his fellow customer with a<br />
fatherly smile, and finally he would say very impressively, "You know, it's a bull<br />
market!"<br />
Time and again I heard him say, "Well, this is a bull market, you know!" as though he<br />
were giving to you a priceless talisman wrapped up in a million-dollar accidentinsurance<br />
policy. And of course I did not get his meaning.<br />
One day a fellow named Elmer Harwood rushed into the office, wrote out an order and<br />
gave it to the clerk. Then he rushed over to where Mr. Partridge was listening politely to<br />
John Fanning's story of the time he overheard Keene give an order to one of his brokers<br />
and all that John made was a measly three points on a hundred shares and of course the<br />
stock had to go up twenty-four points in three days right after John sold out. It was at<br />
least the fourth time that John had told him that tale of woe, but old Turkey was smiling<br />
as sympathetically as if it was the first time he heard it.<br />
Well, Elmer made for the old man and, without a word of apology to John Fanning, told<br />
Turkey, "Mr. Partridge, I have just sold my Climax Motors. My people say the market is<br />
entitled to a reaction and that I'll be able to buy it back cheaper. So you'd better do<br />
likewise. That is, if you've still got yours."<br />
Elmer looked suspiciously at the man to whom he had given the original tip to buy. The<br />
amateur, or gratuitous, tipster always thinks he owns the receiver of his tip body and<br />
soul, even before he knows how the tip is going to turn out.<br />
"Yes, Mr. Harwood, I still have it. Of course!" said Turkey gratefully. It was nice of<br />
Elmer to think of the old chap. "Well, now is the time to take your profit and get in again<br />
on the next dip," said Elmer, as if he had just made out the deposit slip for the old man.<br />
Failing to perceive enthusiastic gratitude in the beneficiary's face Elmer went on: "I have<br />
just sold every share I owned!"<br />
From his voice and manner you would have conservatively estimated it at ten thousand<br />
shares. But Mr. Partridge shook his head regretfully and whined, "No! No! I can't do<br />
that!"<br />
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