I posted that I bought at 70, then 65, then 59. My sell at 68 was my higher-cost lot (cost 70). 70 looked to me like shortterm resistance, and it was. I'm trying to accumulate a long-term position at the lowest-possible cost basis, by steadily selling my higher-cost lots on rallies, and buying the dips. As of today, I have 20% of my money in QCOM (average cost 62), buy orders at 60 and 55, and no sell orders. If those buy orders fill, then I'll sell my 65-cost lot on the next rally. If they don't fill, then I've already got my longterm holding.
I would define "strong hands" as investors with realistic expectations, who will hold their positions when Mr. Market hates the stock, as long as the fundamentals remain intact.
"Weak hands" will sell when their unrealistic expectations aren't met, and/or when there is a selling panic. They are selling to me (and investors like me), and will continue to. I wish I knew how much longer they're going to be selling. |
