- Still got 24% up, was up very high to 37% last night on a nice move down on copper, caught the top almost perfectly. Then figured it would run down alot over weeks, so I would keep a very loose stop to not get whipsawed out of position. Got greedy in other words (or alternately--let your winners run), and copper made a punishing move upward. I was punished.
I considered closing the position (while I was up big) and then lying in wait to short further weakness--in retrospect, would have worked alot better. Just now copper is going vertical on low volume, busting through a triangle and the PRS 177.- Could be a trend change to the upside.
- In the recent path, I have done well when taking profits relentlessly, and far smaller pieces than I "want to". That seems like all the market will give a person these days.
- However, taking a small profit is far better than taking a loss.
This issue is the time involved and ability to monitor.
Alternate point of view....PTQMF, I am still long lots of that gold miner.
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Insightful and Useful Comment!