All I can tell you is I was pretty big into this when I first began. I even attended one of his seminars. But now I do the total opposite of all those points. I buy stocks that are down over 15% - that are down because they missed on earnings or something bad happened. I only buy them for the bounce play. His philosophy is the total opposite of how I trade. Not saying that his is wrong - I just don't use it. Here a list of his books:
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