Technician's Take -- Three Rules for the Long Side

"Buy stocks that only go up. If they don't go up, don't buy them."

-- Will Rogers

I love this little expression. It's silly, of course, but in a cockeyed way, it works. Just change the wording to: "Buy stocks that only make new highs. If they don't make new highs, don't buy them," and you have the essence of my bread-and-butter, day-in day-out, pay-the-mortgage, feed-the-kids, long strategy. It's made me a fair amount of money, and equally important, it's kept me out of some nasty markets. ...