Pointing Out the Obvious wrote:
K5 wrote:By the way, I see all yesterday's gains in the market disappeared -- and then some -- in the blink of an eye this morning
So now the market is only way above where you got out, instead of way way above.
Most successful investors (not traders) that I've listened to/read on agree on this:
Don't try picking tops or bottoms.
Get out when overloved. Get in when overhated. Sell when there is a fool to buy, buy when there is a fool to sell.
These are the people who have amassed billions, not $100K or a couple million in the short terms which they may lose in the near future.
People who think they are geniouses on short term trends almost always get whiped out over the long run. They are trying to run out when everyone else is and into something else when everyone else is. They end up pushing prices up and then back down, and they make investors who know to get in and out ahead (by not trying to pick tops or bottoms) a lot of money.