Buying the bottom is ALWAYS luck, never though about the skill aspect and thinking about it i don't think skill plays any part, its a calculated decision.Not only do I think it is more than possible but I also believe it is a skill you need to have a proficiency in.Who can find the bottom first time with any consistency? Cheap enough for a decent long term return is cheap enough for a decent long term return. Picking the bottom is luck.
You need to know when your at a hard top or bottom or a soft one.
How to read price action as it nears either so you can take the best advantage of it going forward.
Obviously the connotations of a topic on tops and bottoms isn't without humor but this is a serious topic!
My ambassador for the topic!
On both fronts you need to know what to do when you see one or one is approaching---Oh God--you just cant get away from it !!!