Tuesday, December 21, 2010

When to sell?

I have a good idea as to when to buy, but when do you sell? 

Recently I put some money in MCP, and took it off quickly and capitalized on a nice return.  http://theopeningrange.blogspot.com/2010/12/instant-10-return.html

BUT, I could of received a much better return with patience and not worrying about losing something I never really had.

"Everybody knew that the way to do that was to take profits and buy back
your stocks on reactions. And that is precisely what I did, or
rather what I tried to do; for I often took profits and waited
for a reaction that never came. And I saw my stock go kiting up
ten points more and I sitting there with my four-point profit
safe in my conservative pocket. They say you never grow poor
taking profits. No, you don't. But neither do you grow rich
taking a four-point profit in a bull market."


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