Timing the marketi said it many time before,
NOBODY can time the market.Some think they can but it's an illusion.
Once in a while, you can be lucky.And yes, luck is a part of anyone's success.
When you buy a great company at a decent price, you stay with it until you see a change in
the reasons you have bought it.
It's time in the market that make us succesful not trying to time the market.
I will give you an exemple of a HUGE MISTAKE i just made.
Going on vacation in mid March, i sold 40,000 of my 50,000 shares of DRX
at an average price of $9.40.I had bought these shares in mid 2021 below $2
and sitting on a huge profit.
Everything was and still going well with the company.There was NO REASON for me
to sell but i did.
BIG MISTAKE.Fast forward one month and the stock is trading as i write at $13.90.
I would have $180,000 more in my account had i not sold.
Why did i sell.Because i am HUMAN and human do these type of mistakes
Selling to early to lock in profits.
I bought back 7000 shares when i can back in the low to mid $10 and now have
only 17,000 shares instead of 50,000.
We are all stranger to each other on these board so nobody will care about
my mistakes.
I write that to show that when we are invested in good company at decent prices,
we should try to resist selling until THERE ARE GOOD REASONS TO DO SO.
Not to sell just to lock in a profit
Big mistake, big mistake.But Life is still good.
SU is my biggest holding and i will not do the same mistake as i did with DRX.
Staying long SU until something changes in the micro and or macro picture of this sector.