RE: Disappointed Mike I disagreeI think some of you misunderstood my comment on investing. I was not suggesting where to jump off, rather giving an example. You need to have an exit strategy....if you don't, you're headed for a disaster. If you continue to hold until "it heads for the moon", where will you jump off? Never at the high, that's for sure...you'l always be thinking it can only go higher. If you think this way, you're using emotion and not logic.
I have made money on stock that has gone way higher after I sold. So what! If I doubled or tripled or even only made 30% or 50% in a few months, is that not good enough? You have to not care what someone else MIGHT make on a stock, you have to decide what is a return you'll settle for and take it.
When I suggested a staged exit, this would follow with a "happy return". Let's say I had 10,000 shares of company X. I bought at $5. I decide that I am happy with a 50% return in a year or two's time. I hit that 50% after 6 months. Personally, I would sell half since I hit my target return. I'd then hold with the rest and if I doubled 6 months after that, I would sell another half (2,500 shares at this point). By this point, I have more in cash from the sales than I put in so the remaining shares are gravy. THAT is what I would play with for the long term and go for the moon.
If you think MPV or any one stock is the only one to make money on, think again. Don't be blinded by owning a stock forever and thinking you need to hold forever. Make a good return then move on. Keep a core holding just in case...and don't look back if it still shoots higher. A few years ago I bought YRI for $3....sold around $5...it went to $17 or something like that (not even sure where its at now). Killed me at first but step back...I made a 70% profit in a year. If I can do that with my portfolio every year....or even a quarter of that, I'll be retired sooner than I plan to.
Trust a guy who has watched many of his clients fall into this trap...set an exit strategy and stick to it no matter what. Don't use mine, set your own.