Owen says you should buy stocks whose prices are nearing or have hit twelve-month highs. His illusion of order is that some kind of “momentum”, as he calls it, will tend to make price movements continue. Thus, a rising stock will continue to rise. Greenfield says you should buy stocks whose prices are nearing or have reached twelve-month lows. His illusion of order is that prices seesaw in a roughly predictable fashion. Thus, a stock nearing a low will soon turn upward.
