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Mr. Rhino,
Your remark "and am trying to justify why I sold any of it" could be answered by (1) taking a nice profit without being greedy and/or (2) getting out after such a quick move up which usually is followed by a substantial pullback. I think it's the right thing to do.
I could name many stocks that have gone up quick like that, only to retreat and leave traders holding the bag, so to speak. Look at most of the internet stocks in the past few days. We hear about the folks who make a bundle, of course, but there are just as many, if not more, who lose on those stocks. IPO's are a good example, too.
Whatever, though, I think we all know that it's not a good idea to look back and second-guess our moves. Learn from them, maybe. But why beat yourself up for taking a profit? You can almost never get "all" the money, so just be delighted to have made some.
And you are so right when saying "this is a heck of a lot easier to watch than actually execute." Indeed it is, huh? <g> Also, it's much easier to make a profit one time than do do it consistently over a long time frame.
By the way, you never did say which stock you're talking about. That might change or negate everything I've just said! That being said, though, let me say that I know very few successful traders who are interested in $2 stocks. Stocks that are that cheap are cheap for a reason.
Let me offer my congratulations on a nice play.
Bill |
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