Those watching IBD know they changed their tune today. And I was saying that would be the time to get the stops out. Let your profits run but what happens - the run up turns into a bubble, it gathers momentum, climaxes and then stocks reverse. The day that happens, you don't feel like selling the next day because stocks usually start the next day down. So, my new rule is to protect profit rather than capital. This makes sure you get out while you're ahead. Protecting capital makes sure you don't suffer a loss. That's not good enough for us.
So, get ready to move off the sidelines, but be ready to sell when the tide turns as it inevitably will.
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