Thanks for all the responses. Some good stuff. @ smallfil, thanks especially for the comments on managing long term money. I’ve been aware and do look at charts of my long term stocks and ETFs, but while I have never been a buy and hold forever guy, I’ve been less eager to sell those positions. You gave Me some good food for thought,
You should let the trailing stop loss on good till cancelled basis, take you out of your trades. Traders tend to be emotional and lose because they let emotions rule their decisions. Stay with the stock as it continues to trend higher and pile on profits for you. The stop loss will take you out of the position when the time comes. Make sure it is on a good till cancelled basis so that, you just need to raise and change your trailing stop loss. Far superior to a buy and hold trading system without an exit.
I blocked some of the reactionary perma bears on here and stuck to my macro calls. Anytime the SPX gets to the 4200 area you should be looking at buying quality stocks even if it's just a range bound trade. I'm up 21% ytd no leverage with my approach.
One word (besides price) is all that matters currently: Uncertainty!!!!!!!!!!!!!!!! 4117.50 next support I see currently:-
It's already held 3 or 4 times. I see a lot of so called "price action" and supposed technical traders on here talking a lot about more downside but the chart says otherwise. Unemployment in Canada dropped 1% today to almost historical lows. There are numerous positive catalysts being totally discounted now ( end of War, reduced inflation, end of Covid as a meaningful threat ). My forecast remains the SPX closes modestly higher overall for the year.
I'm surprised that you never owned TSLA considering you buy stocks making 52 week highs. Care to elaborate?
Couple things; I primarily invest in Canada.(Home country bias). When TSLA was breaking out to a new high I may have been fully invested elsewhere.