First, I'm not even close to an exit strategy. I'd did have a few US listed names (MDG,GLG) that I used for "trading", but after selling some 40% gains, they've gone higher. My approach is more fundamental, especially since there really isn't much of a trading market even in SWG and IMG. Personally I see 500% or more gains coming in those names, so why get cute? Once in awhile I get tempted to sell a little strength such as the 80 to 1.40 SLR move or TNK's 60 to 95 (I did sell GBU at four bucks), but I hose myself down and just go with it. This comes from old experience.
As a little illustrative side story, I well remember being a young stockbroker and must have been one of the biggest promoters of Amgen in the country (when it was 1/100th of today's price). I spent twenty hours a day getting people into it and built a huge "book" in that stock. I even had a license tab that said AMGN. I traveled to SF, from Seattle to put on a special seminar in it. I was knowledgeable about every facet. I would talk with researchers and doctors. People would start calling me unsolicited for advice. The stock would have regular moves and fakes. Then at one point I got that "big" 75% move where people asked if they should "trade" or "take profits". I said sure, I'm a rocket scientist, look at that "overhead resistance" and that "support" back at 35 cents (split adjusted since four dozen times). Well, you can guess the rest of the story, and now with the benefit of a head of graying hair I can smile (a little) now. It wasn't so funny fifteen years ago. |
