Friday, November 14, 2008

Learn to take profit

  1. I have to take profit in this market. I forgot again and let great profit in SSO gone in the last 30 minutes.
  2. MOS is OK, I can hold for a long time.
  3. Don't be overconfident, think this is the rally. Things always change.
  4. On the other hand, buying at the close (the new low of the day) is not a bad idea. People are afraid of weekend, the G20 meeting, therefore sell into close. I should know better.
  5. I should sell these positions and buy them back at the close. This pattern happened over and over again, with Thursday's big rally, and today's great comback, the odds are higher of a selloff into close.
  6. Lick my wounds and will do better next time.

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