The insight seemed simple. I had seen and was fascinated by many highflying
stocks that rose in price to amazing heights only to come crashing
down to earth. Using Gann’s idea, I imagined a company’s shares as a
changing unit in time—a distance on a chart in which all the shares traded
once. Now I imagined that what probably happened to those highflying
stocks was that a less-than-savvy group of investors bought the
shares right at the top.With no one else to sell to—they were stuck.Next
I pictured the price dropping below this float turnover at the top.With
overhead supply above the price, this would be a great time to sell.