Taking Profits is Good!!
I wanted to continue with a recent theme of taking profits. In THIS POST LAST WEEK we dissected our decision to exit MXL, the chart below was shown in that post. Scroll down a little to the same stock today. NOT GETTING out would have been expensive!
MXL updated November 30
Or how about THIS POST on QRVO. We exited on November 3, the day before it gapped down under 50!
How about our exit on the final piece of IDTI?
We purchased it on November 14 at 2341 and our last sale was at 2540, locking in a gain of 1.99/share nine days later. If you are holding the stock today, you would be down one penny per share! Markets are volatile and if you are going to be a successful swing trader you cannot be emotional about your stocks. There are a lot of times when it makes sense to take the money and run!