Monday, October 19, 2009

Why I got out

I sold my long position at 1095.25 a few minutes ago because the market has traded sideways in a narrow range right at its previous high of 1095.50 (electronic early last Friday). This was too much hesitation at a key level for my taste, so I got out. Better safe than sorry.

3 comments:

RAW said...

Good Call. Thanks for the followup.

jeff said...

aaple blew out earnings, which means the market should open up tomorrow.

fyi, aapl had it's all-time high in november 2007 of 202.96. afterhours, it's trading at 202.47

though it completely blew away the numbers, i think this is a sell the news event; however, if it holds in this range and rises, i think it would bode well for the market.

Tahoe said...

I view taking money off the table as prudent, as you said in conditions that prompted your decision. Being grateful for what the market offers and not falling victim to expectations or bias has made a difference for me. As always, love your posts and guidance.