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Jitu wrote:
"The philosophy there (as I'm sure you already know) is that stocks that
have advanced significantly in the most recent quarter are ready for a
pullback, and those which have already pulled back, but have been bouncing
upwards before that
are ready for rallying again."
I guess a key Phrase in the above is :
Stocks that have advanced significantly "Are ready for a pullback"
A study of the greatest stock market winners proved that the old adage, "Buy
low, sell High" , "sell High, buy low", was completely wrong. In fact, the
study proved the exact opposite. What seems too high in price and risky to
the majority usually goes higher, and what seems low and cheap usually goes
lower.
A second study was conducted which included 2 groups of stocks, Stocks
making New highs and stocks making New Lows. The results were conclusive:
Stocks on the New high list tended to go higher in price, while those on the
New low list tended to go lower in price.
Anthony
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