I have been away a few days but it appears my "time to sell" thread has provoked a little debate about entry and exit startegies. In the carnage of 2008 I made 24.8% ... . There is certainly lots of risk and little to gain from trying to extract every last dollar from every trade you do. My motto since the Bear Stearns bail-out started the rout in financial markets back almost 2Yrs to the day is to "scalp" the market for a few weeks or months. A long term buy and hold strategy at present is just too risky, too many unknowns. Better to trade short term sentiment rather than trying to be clever and trade the fundamentals ... no one really knows where the fundamentals are. You can smell , taste , feel sentiment in these markets .. its really quite palpable.
Be greedy when others are fearful ... be fearful when others are greedy !
I sold 10,000 FPH on Monday at 336 ... today 315 ( $2100 saved in 48hrs )
I sold 8,000 SKC on Monday at 344 ... today 325 ( $1520 saved in 48hrs )
I thought others were getting greedy a few days ago , I got nervous at the excessive bullishness , maybe in a few days/weeks/months those people will get scared ?? I am cashed up now and will be ready ...