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Strategies & Market Trends : The Stock Market Bubble
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To: Les H who wrote (2385)12/1/1998 2:23:00 PM
From: Terry Whitman  Read Replies (1) of 3339
 
<<Isn't there an old rule that if the market has more new lows than new highs within 7 days of a new market peak, the market has made an intermediate-term top? >>

Haven't heard that one before. But you know those old rules are usually good to keep in mind. I'm thinking of compiling a list.

The three main laws of trading;

1) No one ever went broke taking a profit.
2) It's better to be lucky than smart.
3) The Market is never wrong.

The lesser laws:
-Buy the rumor, sell the news.
-Let profits ride, and cut the losses.
-Buy low, sell high.

The Jewish trading laws:
- Buy Rosh Hahannah, sell Yom Kippur.
- 5 consecutive days of new highs over new lows confirms a bull run.

Les' Law: If the market has more new lows than new highs within 7 days
of a new market peak, the market has made an intermediate-term top?

Any to add?
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