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R.C. had espied a big black bear walking a slide some four hundred yards down the canyon slope, and forgetting that he had a heavy close-range shell in his rifle instead of one of high trajectory, he had aimed accordingly, to undershoot half a foot and thus lose his opportunity. Nielsen had been lost most of the day.
"Better to overshoot than to undershoot," added Aylward. "Better to strike the rear guard than to feather a shaft in the earth." "Loose quick and sharp when they come," added another. "Let it be the eye to the string, the string to the shaft, and the shaft to the mark. By Our Lady! their banners advance, and we must hold our ground now if ever we are to see Southampton Water again."
With his head still reeling he must pick out his landing-place and make it. The difficulty is, of course, not to undershoot, to fall short. It must be remembered that in case of actual engine failure there is no motive power, and if a man calculates his distance too short, he has nothing left but to make his landing where he may be. He has lost his height and his chance to reach other fields.
Their reaction constitutes a trend and identifying this trend at its inception can generate excess yields. On this both fundamental and technical analysis are agreed. Moreover, markets often over-react: they undershoot or overshoot the "true and fair value". Fundamental analysis calls this oversold and overbought markets. The correction back to equilibrium prices sometimes takes years.
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