With the market gains lately we've closed out several positions and taken profits. We have much powder in the keg. Years of experience through trial and error has taught me to not enter into positions too early. Don't trade for the sake of trading. How many times did I want to kick myself for not waiting until the inevitable swing down? Moving in cycles the market will inevitably hit a point where stocks one follows sink to OMG levels. If one is patient they can shoot fish in a barrel.
I'm having to be patient. Recently the sell off in precious metals provided an opportunity. They are back on the rise and when I've drained the lion's share of the profits from these trades I will close them out.
Where is the next opportunity going to come from? Not knowing is part of the fun. Is it possible for the market to keep lifting without a downturn? Probably not. In any event, successful trades are the name of the game. Don't lose money. Swing at the fat pitch. Be greedy when others are fearful and fearful when others are greedy. ~ Warren Buffett
Like Buffett we sit on cash and wait for opportunities :)
Theirs always fear in the market.
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