...first check whether the market as a whole is rising or falling. In other words, are you in a bull market or bear market? If the latter, stay out. The odds are against you. Nicolas Darvas More Quotes by Nicolas Darvas More Quotes From Nicolas Darvas All a company report and balance sheet can tell you is the past and the present. They cannot tell future. Nicolas Darvas future balance past I believe in analysis and not forecasting. Nicolas Darvas forecasting analysis believe