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Jose,
William O'Neill, founder of IBD also promotes "Buying high
and selling higher". Value Line's picks for the Top 100 stocks with
a rating of 1 and likely to move higher are typically hitting highs.
This is now becoming a discussion on if you are a momentum trader or
a value trader, not who is "scamming" newbies. The Little Blue Book
is certainly a favorite for the value traders. Both methods work;
their time horizons tend to be different and require different
mental fortitudes and approach. And both methods fail if you don't
do it right.
For me, I follow momentum, shorter term with stocks using T.A. and
longer for mutual funds, using momentum. I have found that using a
momentum method works quite well with mutual funds and a longer time
horizon, as Super has suggested. I have manually backtested this
through the last bear and bull markets and use it myself. Last year
I beat the S&P index in my 401K retirement fund with the 28 mutual
fund choices. This was done by following momentum. A friend of mine
who uses the same method in another company also beat the S&P last
year doing the same. No T.A.
In any case, there are definitely a number of methods to make money
and probably many more to lose it. Lets chill out a little here and
not get too serious on differences. You contribute too much here for
anyone to be negative towards you. You are welcome to critique this
post. I would take it in good spirit! Bottom line is its working for
me.
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