I do buy new highs/range breakouts often and find it very successful as combined with good technical analysis and money management it allows me to have a very low risk/reward ratio over ALL time frames.. The "buy when everyone else is selling" is perhaps a higher risk strategy but generally works very well in the long run IF you are on the ball with your fundamental analysis/valuation........you do have to be prepared in the short term for it to become even better value though!!.......I reckon a guy by the name of Buffett would protest the validity of the "buy when everyone else is selling" method quite vigorously as it is in this sort of environment that "Mr Market" offers him quality shares at bargain prices. I have done selective buying in this fashion recently (only on the real panic days) and already have profit in the bank. It does require you to be rather more selective though as those who tried to pick bottoms in HII/SLX/CPU et al would attest! There is a big difference between buying good shares in general market panic as against buying when people are racing out of one particular share.
