Ed Seykota was recently asked at his site:

“When you select what looks like a “promising” stock, do you keep pulling the trigger after being stopped out or do you move on to other markets if the first attempt fails? The reason I am asking is because I noticed many stocks will breakout with strength only to fall back, hit my stop, linger a couple months or so and then really take off.”

Ed responded:

“A promise is a statement that you will do something in the (non-existing) future. As such, all promises have an inherent design flaw. I don’t know of any stocks that make promises. I merely know stocks that meet various mathematical criteria in the now. You might consider having a look at what you mean by a “promising” stock.”