to all those trend followers who often say something to the effect of why sell into this market when the trend is clearly up and we are in a bull market, you may aswell wait to the trend is clearly down before selling, the trend is your friend etc i have a question.
has the trend been broken? are you buying or selling today?
the million dollar question.
i am wondering what sort of drop contitutes the end of the bull market. do you sell on a 5% drop? 10%? 15% 20%? or is it about to turn up after 20% fall?
i mean if you saw clear downward moves in May and October last year maybe you would have sold after the mkt fell 8% and sold exactly at the wrong time!
as i wrote about last week, i myself prefer to gradually stagger my selling into seriously overbought/overvalued mkts with the view i am not good enough to pick the exact top. if it rises further i will simply hold cash for awhile, have a think about things, and happy becoz have made a killing the last few years anyway.
so thats where i am coming from with this question, if there are trend folllowers out there, how are you playing it, are your stops far away?
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