Tom DeMark calls a top in September, and all the hedge funds begin selling. Yesterday DeMark calls a bottom, and the hedgies start buying? Is it really that simple, can one individual have that much sway over the price of a company the size of Apple?
Just a bit more involved. First, he consults with the big boys. He told them $701 was the top based on his models. And, he told them the bottom would be $494.75. They road it down to there. Then, he comes on TV, after the big boys have accumulated much of their desired positions and says selling is exhausted, its bottomed, it's going to $600 in a couple of weeks. With no sellers left, the big boys can take it right back up with little resistance and his commentary on TV was the alert to all of their friends. Tom does have a lot of great on the money calls. We shall see about his $600 idea.