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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (26100)	6/11/2025 7:19:08 PM
From: Rarebird	Respond to of 26251

I do that a lot, not always. I did it with MO recently. I sold half at retracements, in this case, wave 2 and bought the half back at the beginning of wave 3, which is impulsive. I have a target for wave 3 and will sell the half again and then buy back for wave 5. Ultimately, MO is headed to $69-$70 to complete the full wave. The mistake people make is that they sell everything during corrective waves, thinking they can get back long quickly. It does not work that way. You have to have a position to know when to get back in. That is my critique of people who try to forecast where the market is headed without having market exposure. You got to be in the market to become a market visionary. Sometimes, I just ride the wave down, experiencing the pain and doubling my position when I see the bottom and impulsive move up begin. If you watch carefully, you can catch the bottom within a percent or so. Hitting the bottom exactly is luck, not skill.