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Charles H. Dow

It is interesting and amazing to note that not until Charles Dow started compiling the Dow Jones Industrial and Dow Jones Rail Index and started writing about the stock market a little over a hundred years ago, stock speculation was regarded merely as a game for the rich or as gambling for the brave. Sure, there were the tape readers, but the majority of the public regarded Wall Street as a source of excitement - the entertainment provided freely (unless you were on the wrong side) by figures such as Cornelius Vanderbilt, Jay Gould, and the infamous Daniel Drew.

In a series of stunning editorials for the Wall Street Journal at the turn of the century, Dow laid out the foundation of his own theory on the stock market. Among them were:

The market is always to be considered as having three movements, all going on at the same time.
The first thing to consider is the value of the stock in which the speculator proposes to trade, the second the direction of the main movement, and the third the direction of the secondary movement (i.e. stocks fluctuate together, but prices are controlled by values in the long run).
There are three phases to both a primary bull market and a primary bear market (not to be confused with the three movements mentioned above).
The formation of a "line" in the averages indicates accumulation or distribution
The market represents a serious well-considered effort on the part of far-sighted and well-informed men to adjust prices to such values as exist or which are expected to exist in the not too remote future.

The method of making money in stocks, according to Dow, was to study basic conditions and exercise enough patience to capture the major movements. One of the few speculators who discovered this relatively new concept of making money on Wall Street at the time was Jesse Livermore. He was able to accomplish this only through trial and error and the making and losing of several fortunes.

William P. Hamilton

William P. Hamilton, Dow`s understudy and the fourth editor of the Wall Street Journal, continued Dow`s legacy after his death in 1903. The Dow Theory as interpreted by Hamilton forms the basis of all modern technical analysis today. He wrote about the Dow Theory for the Wall Street Journal for more than 20 years. His additions to the Theory included:

The Averages discount everything
The primary trend cannot be manipulated
Both the Industrials and Rails (the modern day Transports) must confirm each other in order for the signal to have authority
The Theory is not infallible. If someone did find such a system, then he
or she will own the world in relatively short order and speculation as we know it will not exist.
Determining the trend by spotting "higher highs" or "lower lows"

Hamilton`s predictions of the trends were uncannily accurate, even as he developed a wide following from his editorials. A major reason why he was accurate almost all the time was his lack of a writing schedule - choosing only to write when he had something to say about the market, sometimes going for weeks without writing a single word.

The one significant time when he erred was in late 1925 and early 1926 when he erroneously labeled a serious secondary reaction in a primary bull market as a bear market. Followers of Hamilton lost heavily during that period, as the market bottomed out in March 1926 (Industrials 135.20 and Rails 102.41) and was getting ready to resume its long advance that would not end (tragically) until September 1929.

Even so, Hamilton would always be remembered for penning the following editorial on October 25, 1929, just days before the crash. His words proved prophetic - calling for the beginning of a new primary bear market. Part of his now-famous editorial is reproduced below:

A Turn in the Tide - October 25, 1929

On the late Charles H. Dow`s well known method of reading the stock market movement from the Dow-Jones averages, the twenty railroad stocks on Wednesday, October 23 confirmed a bearish indication given by the industrials two days before. Together the averages gave the signal for a bear market in stocks after a major bull market with the unprecedented duration of almost six years. It is noteworthy that Barron`s and the Dow-Jones NEWS service on October 21 pointed out the significance of the industrial signal, given subsequent confirmation by the railroad average.

Hamilton passed away six weeks after he wrote the above editorial. It is a
tragedy that probably not a great number of people at the Wall Street Journal or Barron`s today have even heard of the Dow Theory, let alone have a complete understanding of it.

Robert Rhea

The next great Dow theorist, Robert Rhea, initially stumbled upon the Dow Theory during his endeavor to find "a system" for helping him make money in the stock market. In his attempts to disprove the theory, he became a convert. Rhea was a very serious student, and he was able to utilize the Dow Theory as interpreted by Hamilton to his advantage, buying and holding stocks in 1921, and basically holding them until late 1928 (he reversed his short position when he realized Hamilton`s advice was incorrect in early 1926), missing only the final blowoff phase. He also "played" the short side successfully during the subsequent deflation. In 1932, he began publishing his newsletter based on the Dow Theory, called the "Dow Theory Comment."

Rhea called the bottom of the stock market in July 1932 almost to the exact day and the subsequent top in 1937. On July 21, 1932, with the Industrials at 46.50 and the Rails at 16.76, Rhea instructed his broker to tell his friends "the Dow Theory implied heavy buying for the first time in over three years." Further, on July 25, 1932, Rhea sent a memo to 50 correspondents, part of which is reproduced below:

The declines of both Rail and Industrial averages between early March and midsummer were without precedent. The thirty-five year record of the averages shows a fairly uniform recovery after every major primary action, and such recoveries average around 50% of the ground lost on the decline; are seldom less than a third and more than two thirds. Such recovery periods tend to run to about 40 days, but are sometimes only three weeks - and occasionally three months.

The time element is in favor of a normal reaction at this time - because the slideoff was normal (the normal time interval of major declines being about 100 days).

The market gave the unusual picture of hovering near the lows for more than seven weeks, and might be said to have made a "line" during the latter weeks of that period.

Because of all these things, and because the volume tended to diminish on recessions and increase on rallies during the ten days preceding July 21, almost any one trading on the Dow Theory would have bought stocks on July 19^th. Those who did not, had a clean cut signal again on the 21^st. Since that date the implications of the averages have been uniformly bullish, and it is reasonable to expect that a normal secondary will be completed, even though the primary trend may not have changed to "bull". So much for the speculative viewpoint.

Followers of Rhea who bought stocks during that period and held until 1937 made a fortune.

E. George Schaefer

In July 1949, with the Dow Jones Industrials registering a low at 161.60 and with the country in the midst of a severe recession, a new primary bull market was born. E. George Schaefer, a Dow Theory disciple for more than 20 years, started his newsletter writing career near that time, calling his subscribers to load up on common stocks in June 1949. He remained steadfastly bullish in the great corrections of 1953 and 1957 and cautiously bullish since 1960 until the final top in 1966.

Schaefer believed that Hamilton strayed away from Dow`s original principle of investing in "values" and that Rhea spent most of his life improvising Hamilton?s "system" of trying to trade the markets when 95% of the population just cannot duplicate what the emotional-less professional traders can do. He also emphasized that some of the "rules" that Hamilton and Rhea developed did not apply to the more modern and more emotional markets of today (such as the claim that secondary reactions tend to retrace one-third to two-thirds of the preceding primary swings). The best course of action was to buy "great values" and staying fully invested through the primary trend.

In his 1960 book "How I Helped More than 10,000 Investors to Profit in Stocks," Schaefer stated:

As noted before, my extremely bullish market letters of June and July, 1949, appeared just a few days and weeks after the low day of 161.60 was registered on June 13, 1949 by the Dow-Jones Industrials. Since that time, and for the next 11 years, my letters have been consistently bullish on the Primary Trend. The stock market has borne me out, and I would say that the majority of my readers have benefited as they stayed fully-invested in the way I have counseled.

Schaefer also developed some additional technical tools and made additional
observations along with his study of the Dow Theory. Among them are:

The 50% retracement concept
The yield cycle
The ratio of short interest to daily volume
The study of odd-lot trading
The 200-day investment line (the 200-day simple moving average)

Schaefer turned bearish at the most opportune time in 1966 and became bullish in gold and gold mining shares shortly afterwards. He was, however, too early with his bullish calls when he asked his subscribers to buy them in 1974. Gold immediately proceeded to suffer a huge short-term correction. The losses may have broken him since he committed suicide shortly afterwards. From thereon, the Dow Theory torch was passed on to Richard Russell.

Richard Russell

Richard Russell was another Dow Theorist who stumbled upon the Dow Theory during a quest to find useful literature regarding the stock market. He became a convert after reading the writings of Robert Rhea. Russell decided to follow in the footsteps of Rhea and Schaefer - establishing his newsletter "Dow Theory Letters" in 1958, partly inspired by the extreme bearishness of the public during the great correction of late 1957 (Russell was bullish at the time).

He also urged subscribers to sell at the top in February 1966, and he rightly turned bullish in December 1974. Following are excerpts from his newsletter during those periods.

February 10, 1966 (two days after the final top) - While Russell mentioned that although technical conditions are getting weaker, there is no indication that the bull market was over yet. However, on the simultaneous decline of the Dow Jones 40 Bond Average and the Dow Jones Utility Average, he commented: "In the present ... instance the 40 Bonds turned down in February, 1965. The real decline in Utilities began in April, 1965. Therefore, the joint decline in both components can be said to have started in April, 1965, nine months ago. Based on past history, the decline of Utilities and Bonds together should be taken as a warning of dangerous monetary conditions ahead as well as a warning of unsatisfactory stock market conditions. At very least, the shaded areas identify periods in which informed investment money is distributing or leaving the market."

Russell began his February 22, 1966 newsletter with the following paragraph: I dislike emphasizing "the drama of the marketplace" (in contrast with the cold, analytic approach), but it does seem to me that 1966 is shaping up as a most exciting year for market students. Not since 1907 has a booming economy run head-on into a monetary crisis, but I believe there is a reasonable chance that 1966 will see just that type of situation repeated. Furthermore, the monetary squeeze is occurring at a time when (unlike 1907) few businessmen, economists or Governmental leaders have the foggiest idea of the overall situation or the vaguest notion of how to deal with it. What we are seeing is an explosive demand for money from all sectors of the economy with a "built in" booster of $1 billion a month for the Vietnam war - all this in the face of world money markets which are literally "panting for breath."

Note that these were very strong comments since the public was very enthusiastic about the stock market at that time. In fact, according to Russell in the same newsletter, mutual fund purchases by the public in December 1965 were the highest of any December in history. At the same time, the initial offering by the newly-formed Manhattan Fund (headed by Gerald Tsai) was nearly five times oversubscribed. 1966 was a very speculative period, indeed.

The period during late 1974 was a world full of contrasts to that of early 1966. Pessimism was prevalent. The Dow Jones Industrials was selling at a P/E ratio of 6 and at below book value. Some subscribers canceled their subscriptions of Dow Theory Letters after Russell`s special report on December 20, 1974 - thinking that Russell had clearly gone out of his mind. Part of that newsletter is reproduced below:

Now this is how I view it. I think the odds are probably better than 50/ 50 that the Dow and most shares hit a bottom in December 1974. I put this thesis together with a number of other facts. As you will see in a later section, the unweighted NYSE average is now down around 77% from the high. In 1929-32 the unweighted NYSE average went 12% further on the downside - to an 89% loss. I feel that most shares have now discounted all the forthcoming bad news, and I am including recession-depression conditions in 1975. We have been in the third phase of a great primary bear market. We are finally in the zone of "great values". In many cases, stocks are selling "below known values". Here`s an interesting statistic: The price/ earnings ratio for the 30-Dow Industrials is now around 6.0 while the yield on the Dow is 6.36. This means that the Dow P/E is below the yield on the Dow. This happened only once before in the last forty years, and that was during 1948-50.

Second item: The Dow is now selling below its book (or break-up) value. This has not occurred since 1942. Are these two above Dow "tests" infallible indications of the final bottom? Not at all, but they do indicate that the Dow is sure getting down there.

There is no doubt that the 1974 bottom call was one of the greatest stock market calls in modern history, right up there with Hamilton`s 1929, Rhea`s 1932, and Schaefer`s 1949 calls. Based on the Dow Theory and his own observations, he told his subscribers the market was a "sell" in August 1987, even though no Dow Theory sell signal has been triggered at the time (Hamilton and Rhea has always emphasized that one does not usually need to wait for a Dow Theory buy or sell signal to tell one to buy or sell). That signal, however, was triggered just days before Black Monday, October 19, 1987, as the Dow Transports confirmed the Dow Industrials on the downside by breaking through its preceding secondary lows on October 15 (such a signal in the third phase of a primary bull market is taken to be a primary bear market signal).

Russell stayed cautiously bullish during the late 1990s. In September 1999, the Dow Theory generated a primary bear sell signal. Today, Russell still maintains that we are in a primary bear market, and that the market will not bottom until stocks have reached the point of "great values" with P/E ratios below 10 and with dividend yields of greater than 5%. At the age of 79, Russell is still going strong, publishing a market commentary every Monday to Saturday.

The Dow Theory Today

The Dow Theory has withstood the test of time - the latest "proof" being Russell`s primary bear market call based on the Dow Theory in September 1999. As with his 1974 primary bull market call, numerous stock market analysts ignored him, including some of his own subscribers. Various "trading systems" come and go, but the Dow Theory has been a reliable tool for the trader/investor for over a century - mainly because the Dow Theory is not a system, but merely a theory based on the principles as first developed by Charles Dow, and which is open to interpretation.

Since the 1999 primary bear market signal, a great deal of interest has been revived in the Dow Theory. However, not a day goes by without spotting someone who claims an understanding of Dow Theory but who actually only has a cursory understanding at best. More recently, numerous traders have tried to reduce the Dow Theory to a "system," where a series of confirmations of the Dow Jones Industrials by the Dow Jones Transports (or vice-versa) is taken to be "buy" or "sell" signals without regards to other factors such as valuation, economic conditions, and investor sentiment.

It is to be said here at none of the above Dow Theorists interpreted the confirmations of the indexes in that manner. None of them actually waited for such "signals" to buy or sell - they bought or sold in advance. Waiting for such "signals," they claimed, would cause them to have missed a significant part of the move, and such moves can be costly. The primary purpose of this indicator is to serve as a confirmation of the current trend, and if one index does not confirm the other (or if it takes a long time to confirm) then it is a warning sign that the current trend may be over, and positions may need to be liquidated (or stops may have to be tightened) or may need to be covered if one is short. Again, the confirmation of one index by the other is not to be taken as a buy or sell indicator.

Another variation of this fallacy is that the July and October 2002 bottom were the true bottoms, and that unless those bottoms were jointly penetrated by the Dow Jones Industrials and Transports, we are now in a bull market as interpreted by the Dow Theory since we have made higher highs in both indexes. Nothing can be further from the truth. Please remember that Dow`s original emphasis was on valuation and economic conditions. All the major indexes are still overvalued today judging by their P/E and P/D ratios. Moreover, the higher highs indicator can only be treated seriously in the third phase of a primary bear market, when pessimism runs extreme and when stocks are liquidated without regards to values. We had none of that in this bear market so far.

We believe any serious investor/trader should take the time and try to gain a true understanding of the Dow Theory. I sincerely believe that the Dow Theory is even more valuable today than it ever was - in a world full of hedge funds using price, volume, and volatility breakout systems and with anyone willing to jump in at the sign of a potential trend. Today`s markets are more emotional than ever and only by knowing the true tenets of the Dow Theory can one stay firmly planted on the ground with both feet. Ignore the presses and anyone else who has not taken the time to learn the Theory. Read all the historical writings by the above Dow Theorists, and I promise you that this education will be immensely more valuable than any secondary education you can obtain in a top ten business school or a top five investment bank today. Our site will try to incorporate the Dow Theory in our analysis, but please bear with us from time to time since we are still students of the Dow Theory ourselves.

For more information about this article and/or the author visit http://www.marketthoughts.com/stock_book_1.html#helped_investors_profit_stocks

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...h tax! The Taxation People, are a forward thinking online accountancy service that specialise in helping people who might be eligible for a tax refund. They offer a online service, with a simple and easy to follow process that will get you the refund you are entitled to. I would urge you to check out The Taxation People, where if you have been or are currently employed The Taxation People can help you get a Tax Refund. The Taxation People are a trading name of Greer & Taylor LLP a respected and trusted accountancy service provider who offers a number of online services. Initially they are only offering the Tax Refund service that can be found at www.thetaxationpeople.com, but Greer & Taylor LLP are about to lauch a cost effective Self Assesment Service, keep an eye on www.greer-taylor.com for more in...
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Document Storage - Document Storage
...ver the floor? Rapidly running out of room for file storage and need a solution fast? Have you thought about outsourcing your document storage to specialists in this field? You can have your files and folders stored at a remote location away from your company premises. Each single document will be archived and should you need it again in the future you can request its presence. Take your old letters and places them within document storage facilities and you`ll free-up plenty of room in the office. No longer do you have to have shelving that is heaving with heavy boxes because they can simply be stored in a safe, dry and secure area deep down in a vault. The company who provides the document storage facility owns a massive site. Obsolete documents can be sent into deep storage and if you need to look at them anytime in...
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Vehicle Fire Suppression - Vehicle Fire Suppression
...e Ansul vehicle fire suppression system is an automatic or manual fire suppression system using monoammonium phosphate base-a dry chemical agent used to control most fires. This particular system is designed for large, off-road type construction and mining equipment for example; large excavators/shovels, draglines, haul trucks, wheeled loaders and even specialty vehicles such as slab carriers, tunnel boring machines, solid waste handling equipment and even forestry vehicles. These types of equipment and vehicles have large volumes of oils and hydraulic fluids under pressure so that is fire safety is of upmost importance. The above vehicle fire suppression System is a suppression system only and is not designed or intended to extinguish all fires. That is why it is very important that alternative fire fighting equipment is available in case the system does not totally extinguish a fire ...
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Pr Surveys - Pr Surveys
...al public? If you are a lucky enough business to have a nationwide product or service, then you may be interested to know just what the publics opinions of your product or business are. But how do you go about learning such facts? you could internally hire many new staff members to go about on the busy high streets, with questionnaires asking people about you. But lets be honest, you don`t want the hassle of all that extra paperwork. By far the best idea is to get a company in to do your PR Surveys for you. With a professional firm you are sure to find all the right answers to your questions. No matter if you are in the business of selling gifts, or the restaurant business, PR Surveys will help you get to the bottom of people`s opinions. Increasingly these days people are hiring just such companies to gauge what the general public th...
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Double Headboard - Double Headboard
...t of us spend up to a third of our lives in bed, so why not have a comfortable and beautiful bed to sleep in every night? Why not have the bed you have always dreamed of? One way of doing this is to choose the right Double Headboard for your style and there are lots of headboards to choose from in an array of designs and colours.A wooden Double Headboard for instance can fit well into a modern bedroom as well as the more traditional. Wood is a classic material to use as a Double Headboard and will last you many years. These headboards can even be carved to make them unique and match your tastes. There is some fabulous bed and headboard ranges available on the web and the prices are very reasonable due to internet based stores having much lower overheads compared to many high street furnishing shops. The internet is so vast these days, which is great news for shoppers as it gives t...
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Coffee Shop Menu Printers - Coffee Shop Menu Printers
... thing. I might peruse the menu but I always order a Latte in the end. This has nothing to do with the way that the menu is laid out it`s just me preferring a certain type of coffee over others. I`m sure plenty of people are like me but there are also more adventurous types. They`ll pick up a menu and select something different every time they visit the establishment. Menus vary from one coffee shop to the other but one thing they have in common is they begin life at Coffee Shop Menu Printers. Artwork might have been sent through to the printers from the coffee shop and they will have produced top quality menus for the business in question. The look of the menus will no doubt sway certain customers into selecting a particular type of beverage. Quality counts and that`s why every menu produced by ...
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Bespoke Lighting - Bespoke Lighting
...ransform the look of an interior setting just by altering the lighting layout. Careful consideration to the lighting can bring about some quite remarkable results. Consultation with lighting experts can help to produce a beautiful interior setting that is bathed in subtle light shades. Both commercial and domestic settings can benefit greatly by having Bespoke Lighting installed. Architects and developers can work alongside lighting designers who can create a series of stunning light displays. The Bespoke Lighting can be used in communal areas and it can prove to be a feature within its own right. Contemporary light fittings can be installed in public areas where people can admire the lavish light scheme. A number of Bespoke Lighting schemes can be used to create a calming and relaxed feel within a building. Bold feature lighting can be included ...
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Fire Suppression - Fire Suppression
...Fire can be a fearful sight when it is raging out of control and it will devour anything that is in its path. The bush fires in Australia claimed numerous lives recently and over in America, California has been plagued with a series of fires in the past. It`s always sad when you hear about lives being lost due to the ravages of fire, especially if precautions could have been taken to prevent lives from being wasted. Inside buildings fire suppression systems can be installed and they can stop fires and help to prevent potential injuries. Gas fire suppression systems are particularly effective and the agent used in these systems is a mixture of Nitrogen and Argon. The gas is stored at room temperature and when it is deployed it doesn`t produce any condensation. Fires are extinguished when this type of suppression system is used because the gases in the agent deplete the oxygen that i...
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Designer Headboards - Designer Headboards
...rds are different from ordinary headboards because they are stylish and more emphasis is placed on looks as opposed to their usage. Designer headboards are made by different designers, but most designer headboards available in the market are made by bedding companies. Designer headboards are usually more expensive than ordinary headboards, and some designer headboards can be custom made depending on the requirements of a buyer, such as color and size....
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Custom Clearance - Custom Clearance
...moment because you find yourself worrying about the consignment of rugs that are being shipped in from Cairo? Do you find the whole process of Custom Clearancea bit of a muddle and struggle to understand the formalities that take place at dockside. It sounds like you could do with some assistance from a freight firm that can handle Custom Clearanceon your behalf. They often arrange sea import customs formalities for customers that are bringing full or part loads into the country. Ask them to provide you with a quote for the work involved and you`ll find they are extremely competitively priced. There`s no need to stress about Custom Clearancein the future not when experienced freight companies can make the whole process extremely simple. Ask them to handle the clearance procedures on your behalf and you`ll find that your cargo is ready for delivery in next to ...
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The Taxation People - Article03.html
...ny people in the UK, in fact as many as one in three UK taxpayers have paid too much tax! A new `No Win No Fee` tax refund service has just been launched by Greer & Taylor LLP on a dedicated new website The Taxation People which can be found at www.thetaxationpeople.com where you can find out all the infomation need before making the decision to apply for a tax refund. The Taxation People offer a cost effective `No Win No Fee` online service, with a simple and easy to follow process they will guide every step of the way as you apply for a the refund. I would urge you to check out www.thetaxationpeople.com, where you can enlist the help of the The Taxation People who will get you the Tax Refund you are entitled to. The Taxation People are a trading name of Greer & Taylor LLP a respected and trusted accountancy service provider who is moving to provide a number of online services....
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Architectural Lighting - Architectural Lighting
...ed when we redecorated the dining room and fitted new light fittings within. The next room to get a makeover was the master bedroom and again, we selected a completely different lighting style. The one thing that I learnt as part of this process was you can transform a typical home interior by changing the lighting that is within the property. Switch the lights on and they can provide a fine visual display that makes each room look warm and inviting. Of course, the commercial setting can also put special types of lighting to use and Architectural Lighting is favoured by many firms. Design teams can work wonders with the Architectural Lighting schemes and they can be used to illuminate specific features within the building. Uplighters and profile lighting can be used within an interior commercial setting to provide a pleasi...
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Platform Trucks - Platform Trucks
...n in use since ages and have only changed in appearance. They do not have their traditional looks any longer, but they still perform the way did years ago. These platform devices have been built with a flat base on wheels, and they have handles to push or pull them with. These basic but important features allow them to carry materials or objects from one place to another conveniently and without putting a strain on person using them. Platform trucks are normally constructed of welded steel, and they also have an anti-slip waterproof platform as well as handles with a drop safety device. These platform instruments are secure, safe and convenient for transporting material or objects....
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Exhibition Contractors - Exhibition Contractors
... are many companies and individuals providing services that include all kinds of resources for an exhibition of a single item or more than one item. They can produce many ideas for one or make turn own idea into a practical reality. Some Exhibition Contractors own full-service providing companies, which have different budget packages and also provide spaces with exhibition material/service supplies to other organizers and exhibitors who do not need or want their manpower services. The studies by many researchers have shown that people utilizing services like Exhibition Contractors...
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Keysafes - Keysafes
...ty as the next man of leaving my car keys out on show at home. I should really find a place to hide them away until they are required and perhaps a keysafe would be the ideal place. Both small and large keysafes can be purchased depending on the customer requirements. They provide plenty of protection for keys once they are stored within them. Most of the safes have combination locks or keypads on the front of them. Only the people with access codes will be able to open the safes and retrieve the set of keys that they require. Businesses or companies might have their own types of keysafes where they store certain keys to the building. Car showrooms can put the sturdy items to good use as storage facilities for all of their vehicle keys. The larger varieties of keysafes can also accommodate access cards and they can be fitted to brickwork by using heavy duty bolts. For ...
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Plant Management - Plant Management
...s and at any one time there can be many items of plant on sites around the country. For some companies this can prove to be quite a headache as they try to keep on top of the location of certain items and manage the hire costs of specific machines. What these companies need is an efficient Plant Management software package that would enable them to keep up to date with all their plant equipment. An office based software package could be used to manage all types of machinery effectively. This Plant Management software package has been specifically designed with the construction industry in mind. It`s a complete solution for companies that constantly use plant and machinery on site. Once their software is installed they`ll know exactly how much they are a spending on hire costs. They can check where all of their plant i...
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Self Adhesive Stickers - Self Adhesive Stickers
...by students who stick them on their books, bags etc. Self Adhesive Stickers usually have glossy material on one side and are sticky on the other side. They are kept glossy to increase their life.Self Adhesive Stickers are very useful....
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Folding Trolley - Folding Trolley
...en small loads repeatedly from one location to another. This is why people have started to use tools that have been manufactured for the purpose of making such tasks more convenient and efficient. A Folding trolley helps to provide a great amount of leverage, and saves, both time and energy. This trolley can be described as a platform on wheels, which can carry heavy objects from one place to another. These trolleys can be utilized in a variety of industries that require in-house transportation of materials. They can also be used in stores, malls, and at home too. The Folding trolley can be easily put away after use, as it can be folded easily. ...
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Lashing Equipment - Lashing Equipment
...o mean securing a load inside a container in order to prevent it from sliding or falling. Lashing is a widely used in industry today. There are different types of lashing- direct lashing, diagonal lashing and tie-down lashing. Lashing Equipment can be prefabricated lashing belts, chains, wire rope, and also ropes made of artificial or natural fibres, or a combination of both. Lashing Equipment means devices or aids for securing loads against slippage, tipping and even falling. It may comprise of chains, wires, ropes, straps or rods and is generally used in conjunction with a tensioning device for example a turnbuckle, twist lock or ratchet tensioner. Depending on the way in which the load needs to be secured, it may be referred to as cylinder lashing, cross lashing, wire-rope lashing or round-turn lash...
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