|Just to add to what Coffer says from one of the most experienced Tweeners of all time, me, is right now, it appears that this rally will continue on. Even bad news can't send it down. The caution has to be, when everything looks great as far as stocks gaining, then that is the time for caution. |
All my picks that were on my list in Dec, have increased 40% or more and yet I am in cash. So I was right, but I was wrong for not probing. Now I have to wait. I have to break the cycle of waiting too long, buying to late, and then holding too long. If that is all I get out of this rally, that I wait until probabilities are in my favor AND I act by following my rules, then I will be successful.
Buying late is psychologically damaging. At first it looks correct and right, then when the correction comes in, I was right, and I fool myself and tell myself, so I will be right, and the price will come back. But that only occurs in phase 1, which we have not seen in a very long time. The result is losses, which hurt ones confidence. Buying is 50% confidence and 50% probability.
So I sit on my hands and wait. Maybe we should start a new thread and call it Former Tweeners, or Reformed Tweeners or even Never a Tweener Again.