Thursday, September 2, 2010
9/3/10 Before You Accuse Me
So an EOD rally allowed me to close out the 'buy-and-hold' half at the highs of the day.
With time for introspection, my reasons for cashing out:
(a) I was 'hoping' my positions would close at the highs. When I find myself hoping, odds favor closing.
(b) I was up 5-6% over 2 days (I ended the day closer to 5%, as Fidelity charges a short-term redemption fee of 0.75%). What crossed my mind was:
(i) Pigs get slaughtered,
(ii) Just last week I was thinking it would take awhile for my balance(s) to hit this level day trading small positions- now that the target was within reach, why not take it? Last,
(iii) I wouldn't want to be sitting at the dinner table explaining how I let a 5% gain slip away.
Think I flip sides too quickly? Well, sometimes it's an advantage.