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                                                            1,640,000
                                                                340,000
                                                             980,000
                                                               580,000
                                                                  200,000
                                                          Volume
           Price
                                                  1.5
                                                 1.7
                                               2.0
                                                    1.3
                                                      1.1
                22
              26
                  19
            30
                                                                     Sep 1983
                                                      y 8 moths apart t t
                                                      part
                                                         2/1
                                                      Splits only 8 moths apa
                                                                     Jun 1983
                                                      a
                                                      h
                                                 nt t
                                                 breakout, or slightly below buy poin
                                                pullback to pivot buy point after its
                                                 i
                                                 o
                                                t
                                                      m
                   0
                   0
                                               stock will
                                               About 50% of the time, stock will l
           S&P 500
                                                                     Mar 1983
                s but price weekly
                   me price area from 26-3
                and volume
               e
                                               w
                s but price weekly
                                                      Splits only 8
               m
                                                e
                                                 y
                   -
                k
                  ds retrace much of
              Sell: second 2/1 split in
              t in
              in
              plit in
                                                 b
                                               c
                e
                                                      n
               o
                  h
              Sell: second 2/1 split
              pli
                                               s
                                                 lo
              l
                   o
              p
                  u
              p
                                                      s
               months and
               d
                e
               only 8 months and
                                               About 50% of the time
                                                                     Dec 1982
                                                 b
                                               m
                                                      p
                   a
                                                y
                p
                es but p
                  e
                                                         2/1
              /
               t ths
                                                 htl
                increases bt
                   a
                u
               t
              d
                                                 h
                  r
                                               e
               n
                                                 li
                ncreases
                                                v
                                                 s
                                               f
              c
                  ads
                   r
                  spreads
                                                                     Sep 1982
               8
                                                 o
                a
                                               %
                  a
                                                o
                   same
                   e
                   ame
                                                       p
                                                       Volume up
                                                       Volume up
                c
                                                 t
                                                       u
                                                k
              e
                                                 u
               n
                                               5
                  p
                  p
                                                       m
                                                 k
                                                 a
                                               o
                                                                     Jun 1982
                                                       Vo
                                               A
                                                p
                                                 b
                                                 b
                                                                     Mar 1982
                                                                         The Limited increased 673% in 71 weeks.
                                                                     Dec 1981
                     Note: If you pyramid, keep your average cost low, Add  A  16 erage cost low  e  r a  o  o  keep  d  ramid  p  14 by never buying more shares at the higher prices,  by never buying more shares at the higher prices  s  o  r do not get top heavy with more dollars in at higher  e  y  12 prices than
                                                                     Sep 1981
                                                                     Jun 1981
                                                                     Mar 1981
                             Don’t get excessive.
                             Don t get excessive
                                                                     Dec 1980
                           t
                       t
                      b
                     o
                     o
                        tha
                          h
                            o
                           B
                     If
                     Note
                        i
                           d
                                            Buy       Huge volume    Sep 1980 Jun 1980
                 Market  Mk  k  correction correction  e  n  g  u    Mar 1980
                                      Huge earnings acceleration  c  g  a  g  Dec 1979
           The Limited–1982  Weekly Chart                            Sep 1979 Jun 1979 Mar 1979
          Price =  20*eps   1.30    1.20    1.10     1.00     0.90     0.80    0.75    0.70    0.65    0.60     0.55    0.50     0.45     0.40    0.35    0.30     0.25    0.23    0.20    0.18    0.16    0.15    0.14    0.13    0.12    0.11    0.10    0.09    0.08    0.07    0.07    0.07    0.06    0.06    0.05
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