I see that you are having trouble following my thoughts. Not sure if that is your fault or mine (for not making it clearer).

"If things start looking bad" does not refer to the day to day stock price!

It refers to the fundamentals associated with the company the stock is in. I do not get whipsawed out of stocks based on the daily price movement. I get out if something in the fundamentals changes sufficiently.

For example: the announcement that SSO had some exposure to ABCP. That was something I had to look at and decide if it was a sufficently negative fundamental to cause me to exit SSO. (It was not)

For example: The issuing of the convertible notes. Was that a good or a bad? If bad or good, how bad or how good? My conclusion: a very minor negative.

As for "wet-behind-the ears jargon". Please refrain from using personally derogatory comments. That is highly frowned on on this board. You have been (gently, I hope) warned. Even if you firmly believe that my words are "wet-behind-the-ears jargon", please find less perjorative ways to express it.