7/21/2019 The Louie Simmons Lexicon

1/9

PPllbbHHkkuuggbb]]ggooookkddssHHbbxxggmmkkdd

OOccrrttggddEEhhcc`uu

3 rbp ocx

Plb ocxgouo wbgelt cd ctlhbtb mcd summbssnuhhy hgnt nkr cd bxbrmgsb.

=-wbbj pbd`uhuo wcvb

Kdb kn tlb nbcturbs kn tlb Mkdiuectb Obtlk` gs tlct gt gs fcsb` kd =-wbbj mymhbs. 56lkurs sbpcrctb c spbb` wkrjkut cd` ocx-bnnkrt `cy nkr tlb scob hgnt (...) Ub usb c tlrbb-

wbbj pbd`uhuo wcvb, ekgde nrko 21>1% gd tlrbb wbbjs cd` rbturdgde tk 21%.

cfskhutb strbdelt

Ocxgouo cokudt kn nkrmb, rbecr`hbss kn fk`y wbgelt.

cmmbsskry bxbrmgsbs (cjc cmmbsskry wkrj, cjc cssgstcdmb wkrj)

Plb bxbrmgsbs cd ctlhbtb pbrnkros rgelt cntbr lb/slb lcs mkophbtb` lgs/lbr `ydcogm bnnkrt`cys cd` ocx bnnkrt `cys rbspbmtgvb prkercos.

7/21/2019 The Louie Simmons Lexicon

2/9

Bhcstgm fcd`s kn vcrygde tbdsgkd (fhub, purphb, erbbd, btm.) oc`b fy tlb mkopcdy Iuop-

]trbtml.

fcr `bmbhcrctgkd

Plb ud`bsgrb` bnnbmt kn gdmrbcsb` rbsgstcdmb. G fbhgbvb gd wkrjgde wgtlgd tlb

rbhctgkdslgps fbtwbbd nkrmb cd` vbhkmgty, cd` yku lcvb tk trcgd ct >1% kn ykur kdb-rbpocxgouo tk `k tlct. Gn yku wkrj lbcvgbr tlcd >1%, tlb fcr wghh okvb tkk shkwhy tk fugh`

ocxgouo nkrmb. Plb ekch kn tlb @ydcogm Bnnkrt Obtlk` gs tk mkudtbr tlgs bnnbmt. Plb

usb kn fcd`s rb`umbs tlb `bmbhcrctgkd plcsb kn tlb fcrfbhh.

fkx iuop

C phykobtrgm bxbrmgsb gd wlgml tlb ctlhbtb iuops kdtk c wkk`bd fkx.

fkx squct

]qucttgde `kwd kd c wkk`bd fkx. Plb fkx squct gs c stcphb kn tlb Ubstsg`b Obtlk`.

MCPNrb` Lctngbh`'s Mkopbdsctkry Cmmbhbrctgkd Prcgdgde. Obh ]gnn scys 9 Plgs obtlk` rbnbrs

tk tlb prkmbss kn `bhgfbrctbhy trygde tk cmmbhbrctb tlb fcr tlrkuelkut tlb mkdmbdtrgm plcsbkn tlb okvbobdt, gdstbc` kn chhkwgde tlb hkc` chkdb tk `btbrogdb lkw kdb slkuh` okvb.

mgrmc-ocx wbgelt

Plb dbcr ocxgoch wbgelt cd ctlhbtb mcd hgnt nkr cd bxbrmgsb (fbtwbbd 71% cd` 75% kn 3

rbp ocx).

mkdmbdtrgm

C mkdmbdtrgm mkdtrcmtgkd mcusbs ousmhbs tk slkrtbd.

Mkdiuectb Obtlk` (cjc Ubstsg`b Obtlk`)

C trcgdgde obtlk` tlct usbs tlrbb smgbdtgngm obtlk`s (@B, OB cd` VB) kn strbdetl

trcgdgde gd c wbbjhy rktctgkd tk tlb mhcssgmch hgnts.Gts nbcturbs crb 9

- =-wbbj pbd`uhuo wcvb:

-

7/21/2019 The Louie Simmons Lexicon

3/9

Ubstsg`b mkdiuectb systbo tk tlb kdb `bvgsb` fy tlb ]kvgbts ct tlb @ydcok Mhuf crb

kfvgkus.

Mkdtrcst Obtlk`

C trcgdgde systbo wlksb ocgd nbcturb gs tlb vcrgcdmb kn tlb wbgelt ct `gnnbrbdt pkgdts kn

tlb hgnt.

@B

@ydcogm Bnnkrt.

`bptl iuops

Plb ctlhbtb `rkps knn c wkk`bd fkx, hcd`s frgbnhy cfskrfgde tlb slkmj, cd` tlbdgoob`gctbhy iuops cs lgel cs pkssgfhb.

`kufhbs

6 rbpbtgtgkds.

`ydcogm `cy (cjc spbb` `cy)

Rsb kn sufocxgoch wbgelts wgtl ocxgoch spbb`. Gd tlb Ubstsg`b Obtlk`, `ydcogm `cyskmmur twgmb gd c wbbj 9 kdb `cy nkr tlb hkwbr fk`y cd` kdb `cy nkr tlb uppbr fk`y.

@ydcogm Bnnkrt Obtlk`

C ouhtgsbt systbo wlksb ekch gs tk hgnt (kr tlrkw) c sufocxgoch hkc` wgtl tlb ocxgoch

spbb`. Gt rbphcmbs c ocx bnnkrt `cy cd` fugh`s bxphksgvbdbss cd` spbb` strbdelt. Gt gs

fcsgmchhy c prkerco `bsgedb` tk gdmrbcsb tlb rctb kn nkrmb `bvbhkpobdt, fy okvgde hgelttk ok`brctb hkc`s cs qugmjhy cs pkssgfhb.

bmmbdtrgm

Bmmbdtrgm mkdtrcmtgkds mcusb ousmhbs tk bhkdectb. Bmmbdtrgm mkdtrcmtgkds typgmchhy kmmur

wlbd c ousmhb kppksbs c strkdebr nkrmb, wlgml mcusbs tlb ousmhb tk hbdetlbd cs gt

mkdtrcmts.

bxphksgvb strbdelt

Bxphksgvb strbdelt gs ncst vbhkmgty. Bxphksgvb strbdetl gs tlb cfghgty tk usb tlb ousmhbs cd`mbdtrch dbrvkus systbo tk cmlgbvb ocxgouo nkrmb cs qugmjhy cs pkssgfhb cntbr cd gdtbdsb

ousmuhcr strbtml. Wku trcgd gt cd` gdmrbcsb gt tlrkuel phykobtrgms.

N ? O \ C

Dbwtkds sbmkd` hcw 9 Nkrmb bquchs ocss tgobs cmmbhcrctgkd.

ncghurb

Ousmhb nctgeub. Cmmkr`gde tk Pgoktly @cvg` Dkcjbs, tlb bxpbrgbdmb kn nctgeub gs dkt

cmtuchhy plysgmch, fut rctlbr cd boktgkdch rbeuhctkr obmlcdgso `bsgedb` tk ocgdtcgd

wlkhb-fk`y lkobkstcsgs.

ngvb mhcssgmch hgnts

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4/9

@bc`hgnt, mhbcd & ibrj, sdctml, fbdml prbss, squct.

Nhkkr prbss

C fbdml prbss pbrnkrob` hygde kd tlb nhkkr. Plb nhkkr prbss gs c stcphb kn tlb Ubstsg`b

Obtlk`.

nkrmb-vbhkmgty murvb

Ubgelts mcd cmtuchhy okvb tkk ncst (wbgelts fbhkw >2%) kr tkk shkw (wbgelts cfkvb

7/21/2019 The Louie Simmons Lexicon

5/9

hcd` ogdb

C fcr gs phcmb` gd tlb mkrdbr. Plb ctlhbtb pgmjs gt up cd` twgsts gt hbnt cd` rgelt. Plgswkrjs tlb kfhgqubs, cfs, cd` hkw fcmj.

hcw kn cmmkok`ctgkd

Dcturch tbd`bdmy kn tlb fk`y tk cmmkok`ctb kvbr tgob.

hkde-tbro fhkmj pbrgk`gzctgkd (cjc prkerbssgvb erc`uch kvbrhkc`)

Gdmrbcsgde tlb wbgelt pbrgk`gmchhy. ]gookds kpgdbs tlgs systbo `kbs dkt wkrj 9 G cococzb` tlct hgntbrs crb stghh usgde gt tk`cy. Gts c `bc`-bd` strbbt.

ocx bnnkrt `cy

Kd tlgs `cy kn tlb Ubstsg`b Obtlk`, tlb ctlhbtb wkrjs up tk tlb ocxgouo kn wbgelt

lb/slb mcd hgnt tlct `cy. Ocx bnnkrt `cys kmmur twgmb gd c wbbj 9 kdb `cy nkr tlb hkwbr

fk`y cd` kdb `cy nkr tlb uppbr fk`y. Gt `bvbhkps strbdelt spbb` cd` cfskhutb strbdelt.

Ocxgoch Bnnkrt Obtlk`C trcgdgde obtlk` wlgml mkdsgst gd hgntgde c ocxgoch hkc` cecgdst ocxgoch rbsgstcdmb.

OB

Ocxgoch Bnnkrt.

obbt

C pkwbrhgntgde kr wbgelthgntgde mkdtbst.

ogdgocx (cjc stgmjgde pkgdt)

Plb okst `gnngmuht pkrtgkd kn c hgnt nkr cd ctlhbtb.

okdkhgnt

Bqugpobdt usb` tk pbrnkro lbcvy squcts.

''Dk kdb mcd hgnt c lbcvy wbgelt shkw"

C Nrb` Lctngbh` quktb tlct ]gookds hgjbs tk rbpbct, fbmcusb gt prkvbs lgs pkgdt tlct Wku

oust fbmkob ncstbr tk fbmkob strkdebr.

Khyopgm hgnts (cjc wbgelthgntgde)

]dctml cd` mhbcd & ibrj. Rdtgh 3756, sdctml, mhbcd & ibrj cd` pusl prbss.

kvbrspbb` bmmbdtrgm

Bmmbdtrgm gs tlb `kwdwcr` pkrtgkd kn c hgnt 9 tlb ousmhb gs hbdeltbdb` cs tlb hkc` gshkwbrb` spctgchhy. Dk shkw bmmbdtrgms. Chwcys hkwbr fcrfbhhs ncst.

pbcj mkdtrcmtgkd

Plb ousmhbs crb mkdtrcmtb` tlrkuelkut tlb bxbrmgsb. Fcd`s prkvg`b pbcj mkdtrcmtgkd.

phykobtrgms

7/21/2019 The Louie Simmons Lexicon

6/9

Bxbrmgsbs gdvkhvgde rbpbctb` rcpg` strbtmlgde cd` mkdtrcmtgde kn ousmhbs (suml cs

iuopgde). Wurg ^brjlkslcdsjy gdvbdtb` tlgs obtlk` kn trcgdgde, wlgml hctbr mcob tk fbjdkwd cs phykobtrgms.

pkstbrgkr mlcgd

Ehutbs, hkwbr fcmj, lcostrgdes cd` lgps.

pkwbr mceb (cjc pkwbr rcmj)

Bqugpobdt usb` tk pbrnkro bxbrmgsbs wgtl lbcvy hkc`s.

pkwbr mhbcd

Fcsgmchhy, c `bc`hgnt, fut wgtl tlb fcrfbhh frkuelt up tk rbst kd tlb mkhhcrfkdb.

pkwbr rcmj (cjc pkwbr mceb)

Bqugpobdt usb` tk pbrnkro bxbrmgsbs wgtl lbcvy hkc`s.

pkwbrhgntgde@bc`hgnt, squct cd` fbdml prbss.

QV

Qbrskdch rbmkr`. Ctlhbtbs tlct nkhhkw tlb Ubstsg`b Obtlk` mkdstcdthy frbcj QVs.

prkwhbr

C sgophb pgbmb kn bqugpobdt usb` tk pusl c hkc`.

purb phykobtrgms

@rkppgde tlb fk`y nrko c prbsmrgfb` lbgelt. @bvbhkpb` fy Wurg ^brjlkslcdsjy gd 372

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7/9

Vbpbtgtgkd Obtlk` (cjc cmtgm cmg` tkhbrcdmb trcgdgde)

Vbpbctgde cd bxbrmgsb (kr bxbrmgsbs) dkd-stkp bgtlbr c) nkr c prbsmrgfb` cokudt kn tgob, f)nkr c prbsmrgfb` duofbr kn sbts (cd` rbpbtgtgkds), kr m) udtgh ncghurb (Ocdy `kdt rbchgzb

gt, fut wb chsk usb tlb rbpbtgtgkd obtlk` tk ncghurb, tlkuel dbvbr gd tlb mhcssgmch hgnts (...).

G prbnbr tk `k rbpbtgtgkds nkr tgob gd c shkw tbopk cd` `kdt fktlbr tk mkudt rbps.). Cntbr

mkophbtgkd kn tlb ocgd hgnt(s) kd fktl Ocxgouo Bnnkrt cd` @ydcogm Bnnkrt `cys,cmmbsskry bxbrmgsbs crb pbrnkrob` wgtl okrb mkdvbdtgkdch hkc`s usgde tlgs obtlk`.

Ulbd hcmtgm cmg` gs prk`umb`, sk gs tlb erkwtl lkrokdb (...) Fy wkrjgde tlrkuel tlb

hcmtgm cmg`, erkwtl lkrokdb prk`umtgkd gdmrbcsbs erbcthy.

rbvbrsb lypbrZbxtbdsgkd_

Vbstgde kd lgs stkocml, tlb ctlhbtb fbd`s lgs twk hbes sgouhtcdbkushy. Vbvbrsb lypbrs crbc stcphb kn tlb Ubstsg`b Obtlk`. ]gookds lcs c pctbdt kd tlb ocmlgdb tlct gs usb` tk

pbrnkro tlb bxbrmgsb.

Vussgcd systbo

C trcgdgde obtlk` wlksb nbcturbs crb erbcthy sgoghcr tk tlb Ubstsg`b Obtlk` 9- 52% tk

7/21/2019 The Louie Simmons Lexicon

8/9

- @k

7/21/2019 The Louie Simmons Lexicon

9/9

suok `bc`hgnt

C `bc`hgnt wgtl tlb nbbt rbchhy wg`b cpcrt (hgjb tlb stcrtgde pksgtgkd gd suok wrbsthgde).

supbrsbts

Pwk sbts kn twk `gnnbrbdt bxbrmgsbs pbrnkrob` wgtlkut rbst. Plb pcgr kn bxbrmgsbs mcd fb

cdtcekdgstgm (bx. fgmbps cd` trgmbps), kr dkt (bx. trgmbps cd` trgmbps).

Pbd`k

C `bvgmb usb` tk obcsurb vbhkmgty. Gt obcsurbs tlb spbb` kn c hgnt gd obtbrs pbr sbmkd` krtlb cmtuch wcttceb prk`umb` fy cd ctlhbtb.

tgob` sbts

Vctlbr tlcd mkudtgde rbpbtgtgkds, tlb ctlhbtb pbrnkros tlb bxbrmgsb wgtlgd c prbsmrgfb`

`urctgkd.

tktch

Pktch cokudt kn wbgelt cd ctlhbtb lcs summbssnuhhy hgntb` gd c obbt.

trgphbs

= rbpbtgtgkds.

vkhuob

Pktch cokudt kn wbgelt cd ctlhbtb hgnts `urgde c sgdehb trcgdgde sbssgkd.

wbgelt rbhbcsbrs

C sgophb pgbmb kn bqugpobdt usb` tk rb`umb tlb hkc` nkr tlb sbmkd` pkrtgkd kn c hgnt. Plb

rbmkoobd`b` hkc` kd wbgelt rbhbcsbrs gs 61% kn tlb fcrfbhh hkc`.

wbgelthgntgde (cjc Khyopgm hgnts)

]dctml cd` mhbcd & ibrj. Rdtgh 3756, sdctml, mhbcd & ibrj cd` pusl prbss.

Ybrmlbr squct

]quct pbrnkrob` wgtl tlb fcrfbhh rbstgde kd tlb ctlhbtbs nkrbcros.

Cfkut Hkugb ]gookds

Gdvbdtkr

Nkud`br cd` kwdbr kn Ubstsg`b Fcrfbhh]trbdelt mkcml

Qkwbrhgntbr

@bvbhkpbr kn tlb Ubstsg`b Obtlk`Cutlkr

Mkdsuhtcdt