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How I Made $2 Million in the Stock Market: The Darvas system for stock market profits by Nicolas Darvas

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Chapter six: During the Baby-Bear Market

After a few weeks of being without a single share I decided to take a closer clinical look at the situation. To understand it clearly I made a comparison between the two markets.

The bull market I saw as a sunny summer camp filled with powerful athletes. But I had to remember that some stocks were stronger than others. The bear market? The summer camp had changed to a hospital. The great majority of stocks were sick – but some were more sick than others.

When the break came almost all of the stocks had been hurt or fractured. It was now a question of estimating how sick the stocks were and how long their sickness would last. I reasoned that if a stock has fallen from 100 to 40, it will almost certainly ...

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