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Secrets for profiting in bull and bear markets Chapter 3

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Chapter 3 The ideal time to buy. How, when and what. In the past two chapters. You've already come a lot further than you realize. You can now take your portfolio and a chart book and go to work separating the good from the bad | CHAPTER 3 THE IDEAL TIME TO BUY HOW WHEN AND WHAT In the past two chapters you ve already come a lot further than you realize. You can now take your portfolio and a chart book and go to work separating the good from the bad. Rather than blindly depending on your broker s advice you can now quickly see which of your stocks have a high probability of success and which ones are very likely to give you an ulcer. Knowledge is power and you are well on the way to becoming Hercules. But you still have some important learning to do. Now that the foundation is in place you can easily differentiate between a bullish Stage 2 stock and a bearish Stage 4 situation. The next step however is to construct the rest of the building and to learn the perfect time to buy. In addition it s vital to understand how you should go about purchasing your stocks as well as knowing what to purchase. This is extremely important since when you glance through a chart book especially during a riproaring bull market you ll see hundreds of stocks that look buyable. Therefore it s absolutely crucial to learn how to cull out those few A stocks with super upside potential while taking a pass on the lesser lights. Later in this chapter we ll deal with the what-to-buy question which is actually much more difficult than knowing when to buy. But first you have to master the next basic which is knowing exactly where to enter a stock. When you see a chart of a stock that has had a major advance there was one point that was the perfect time to have bought. This ideal entry point is what we are now going to focus on. 58 The Ideal Time to Buy 59 THE INVESTOR S WAY There are two great times for an investor to do new buying and both center around the breakout point. The first is when a stock initially moves out of its Stage 1 base and enters Stage 2. The second and safer time is when a stock pulls back toward the breakout point after the initial Stage 1 buying frenzy burns out. The advantage of purchasing on a .