Re: Technically, time to cash.
in response to
by
posted on
Apr 30, 2010 06:56AM
Fully agree. I remember a couple of years ago I had a long position in gold and fundamentals for gold were so extremely positive that it could only go up further. But then it hit a temporary top and I had to sit out the whole ride from $730 to well below $600. Sure, it was only a temporary dip, but it sure hurts to lose all your gains and it will keep you awake at night. These situations can often be prevented with TA.
Buy & hold is a nice strategy for the longer term, but in secular bull markets, there is going to be a moment when it all ends and TA can help you find that moment. Let's not forget that stock markets are zero sum where the majority usually lose money and a minority make good profits. Right now, the majority see the stock rise further and have virtual gains, but many will be too late to get off the train and see their profits evaporate.
I would like to know from everyone here what your plan is. Just keeping the stock forever is not a plan - there must be a moment for you to cash your gains - what do you base your timing on if TA is not your cup of tea? Again, I am not criticising, just interested to know what everyone's strategy is in this junior mining craze that we all love so much.