William O' Neal Theory!!!!! <<<<<----Correct

And human nature being what it is, 90% of the people in the stock market,
professionals and amateurs alike, simply haven't done enough
homework.
They haven't really studied the problem to find out what they are
doing right and wrong, and they haven't studied in enough detail to
understand what makes a successful stock go up and down. There is no
luck to it, it's not a total mystery, and it's certainly not a matter of random
walk, like some inexperienced university professors believe.
There aren't too many people who are good at stock selection, but
there are probably more than you realize. They are hard to find
because they are certainly in the minority, perhaps one out of every
twenty or thirty people in the market.
The fascinating point is that investors can be good at stock selection
because they've studied, worked, and acquired the right understanding
and experience, but they can also be ignorant about how and why and
when to sell their stocks.
Very few people sell well. Selling a stock correctly is the toughest job
and the one least understood by everyone. The next chapter will discuss
when to sell and take your profits.
In short, if you want to make money in the stock market, you need a
specific defensive plan for cutting your losses quickly and you need to
develop the decisiveness and discipline to make these tough, hard-headed
business decisions without wavering.
Remember, there are no good stocks—they are all bad...unless they
go up.