我给卡牌做了升级！你觉得如何？-QQ阅读

经典重译之股票大作手回忆录(300)，原文(330): Pending its arrival there was still bull money to be made．Such being the case，I merely turned bearish on the stocks which had stopped advancing and as the rest of the market had rising power behind it I both bought and sold． The leaders that had ceased to lead I sold．I put out a short line of five thousand shares in each of them；and then I went long of the new leaders．The stocks I was short of didn't do much，but my long stocks kept on rising． When finally these in turn ceased to advance I sold them out and went short—five thousand shares of each．By this time I was more bearish than bullish，because obviously the next big money was going to be made on the down side． While I felt certain that the bear market had really begun before the bull market had really ended，I knew the time for being a rampant bear was not yet．There was no sense in being more royalist than the king；especially in being so too soon．The tape merely said that patrolling parties from the main bear army had dashed by．Time to get ready． I kept on both buying and selling until after about a month's trading I had out a short line of sixty thousand shares— five thousand shares each in a dozen different stocks which earlier in the year had been the public's favourites because they had been the leaders of the great bull market．It was not a very heavy line；but don't forget that neither was the market definitely bearish． Then one day the entire market became quite weak and prices of all stocks began to fall．When I had a profit of at least four points in each and every one of the twelve stocks that I was short of，I knew that I was right．The tape told me it was now safe to be bearish，so I promptly doubled up．其他版本译文(330): 在它来之前，还能做多头来赚钱。情况是这样，我只是看坏已经停止上涨的股票，因为市场上还有其他股票在上涨，我一边买进，一边卖出。我卖空了已不再保持领先的那些股票，每只我都卖掉了5000股。然后我把新冲上去的股票做多。我手里做空的股票不怎么涨，而做多的在不停地上涨。等它们不再涨的时候，我就又卖掉，开始做空，每只股票各放空5000股。此时，我卖空的比买进的要多，因为很显然，下次要在股市下跌时大赚一笔。当我确定了牛市还没结束，熊市就已开始的时候，就知道赚钱的卖空的时机还不成熟。低调不动肯定不行，但可也不能太急躁。行情记录表明不景气的熊市快来了，此时应该做好准备。我不断地买卖，一直持续了一个月，我按照每次5000股，共做空了6万股，是十几只不同股票。它们在这一年一开始是很受欢迎的，因为一直处于活跃上涨领先状态。这6万股不是很大的空头部位，但是不要忘记，股市并没有确定走空。可是，终于有一天，股市疲软了下来，所有的股价开始下跌。在我卖出的十二只股票中，每只都赚了至少4个点，说明我的头寸没有出错。行情记录表明，这个时候做空就是安全的，所以我立刻加码一倍。我的译文(330): 在牛市到达终点之前，还是可以做多赚钱的，就像此刻这种情况，我只是看空那些不再上涨的股票，而其他股票则仍会被大势推动着上涨，所以我同时既做多又做空。我卖出那些不再领涨的龙头股。对每一只这样的股票，我都建立了5000股的空头仓位，并且做多新晋的龙头股。我做空的那些股票表现平平，而我做多的那些股票却持续走高，当它们最终也停止上涨时，我便平仓多头并反手做空——每一只都放空五千股。到这会儿，我更倾向于看空了，因为显然，下一波的巨大财富，将来自于下跌行情了。我虽然确信，在牛市真正终结之前，实际上熊市已经开启了，但我知道，大举做空的时机尚未到来，尤其不能操之过急(译者注:他以前有过因此而失败的教训)，不能比国王本人还急着维护王权(译者注:这句话可能是一个典故，出自19世纪法国波旁王朝复辟时期，法语原型为:plus royaliste que le roi。国王路易十八亲历大革命后，主张君主立宪、温和改革，可流亡归国的极端保皇派却执意恢复绝对君主制，比国王本人更激进地维护王权，作家夏多布里昂以此语讽刺其过犹不及。后成为经典谚语，表现的比主事者更激进、越位着急，用我们的话说叫“皇上不急太监急”，利弗莫尔此处喻指熊市初现便急于大举做空，实属操之过急。) 行情纸带只是说：熊市主力的侦查小分队刚刚闪过。熊市仍在酝酿阶段。我持续进行多空双向操作，经过约一个月的交易后，我已持有总计六万股的空头仓位——分布在十二只不同的股票上，每只各五千股。这些股票年初时曾是大众追捧的热门标的，只因它们皆是这轮大牛市中领涨的龙头。我的空头仓位不是特别大，但别忘了，那会儿的市场也并没有明确的进入熊市。直到有一天，整个市场都变得非常疲弱，所有股票价格均开始下跌。当我做空的这十二只股票，每一只都至少获得了四个点的利润时，我知道自己做对了。行情纸带告诉我：此刻做空是安全的，于是我当即把空头仓位加倍。引用依据： 1. Edwin Lefèvre: Reminiscences of a Stock Operator 2. 《股票大作手回忆录》（[美] 埃德温·勒菲弗著，汤前燕译）上一集: