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Strategies & Market Trends : 50% Gains Investing
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To: Dale Baker who wrote (251)11/15/1997 9:34:00 AM
From: Dale BakerRead Replies (4) of 118717
 
Here's a question for everyone. Reviewing the decline in paper profits this weekend, I decided the main cause was - obviously - not taking profits in several companies when they were at their peak. I missed the opportunity to pocket real money and buy into the companies later at a lower price. I also could have shorted those same companies or at least shorted against the box to ride out the decline.

Now comes the problem - I bought these companies with a long-term view to buy and hold. The intention was to hang on through corrections on the assumption that they would keep moving ahead.

I tossed out that idea when it looked like the bull market might really be turning. The Dow dropping from 8300 to 7050 is 15%, not a "normal" 10% correction. WDC is an example of a stock which revealed during the larger crash that its fundamentals weren't what everyone expected. I would have sold WDC regardless of the overall market.

Now I am debating if trading in and out isn't the way to go. Sure, no one is an expert at picking tops and bottoms and you may leave some money on the table, but TA helps to pinpoint general trends and turning points.

A lot of you already fall into the category of trader or investor. Like life, however, most of us are in the middle.

Any thoughts?
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