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Buy low, sell high. You’ve heard that before. It’s a great way to get rich in the stock market. Why isn’t everyone doing it?
Obviously, buying low and selling high is not as easy as it sounds. No one knows for sure which stocks are “low,” and which are “high”. A stock that seems “low” may go lower. One that seems “high” may go higher. How can we tell which is likely to do what?
Clearly, history can be our guide. A stock whose price has fallen from a peak is “low” relative to that peak. A peak may reflect the highest price a stock has ever attained, or it may reflect an intermediate high over the last 52 or 13 weeks. Whatever the case may be, investors tend to perceive that stocks are &ldqu | 
