looking at shorts, page-12

yeah Rheags, I took profit again today. I do not care if was a mistake if it goes upwards from today. It's all about offensive action, taking the cream of your success. This is the 2nd time I've taken good profit out of this company after buying it at 28.85 last May. Took profits at around 35 later last year, then watched the price retreat towards 30 again. Because I took profit at 35 I was not ticked off in the slightest about the pullback, and I didn't sell out as a result of the negative price action.

I'm a firm believer of profit taking - put it this way; it should be viewed as taking out insurance against a fall. But unlike any insurance policy which costs you money, profit taking is your payment for success. It puts you in good stead for any eventual pullback. Rather then panicking about loosing great profits you're more relaxed and less emotional about the market negatives.

The beauty is that if the market pushes CSL down again to the low 30s then I will use the money made on profit taking to buy back more shares than what I had sold. It's effectively gaining shares for free.

If it goes up from here I'm still a winner!