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There are two ways to look at things:
- Exit before the top,
- Exit after the top
Exiting before is usually a bad idea, as the market mostly overshoots what is
reasonable.
Exiting after is typically the better way, except when everyone wants out at the
same time. I don't think there are too many shorts on the Nasdaq, so everyone
must be long. Fund managers only buy because the public buys, but they moan and
groan. As soon as the public slows down, the party will be over for a little
while. While taking profits, people will notice there NO buyers. Hence I prefer
getting out before.
For your friend, reason was fear of buying higher. I will have no problem with
that if the market shows me strong signs it is moving higher. For instance above
4500 on NDH0, I'd say we are back in for a tour upwards, which I said I would
participate in in a hit and run mode.
Anyway, I guess the market got on my nerves, and I just need some rest...
:-)
Gwenn
Phil Lane wrote:
> Just to show you what can happen, a friend of mine was doing great in stocks
> back in the early 90s. But suddenly he decided the market was too high and
> sold out. Has been out ever since!
>
> rgds phil
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