So funny, 36 million posts and not a soul here on any stock board who bought stocks to buy and hold in the years 2005-2008. How can that be? LOL
LOL...are you including AIG (almost bankrupt), GM (bankrupt), C (close), HP, Alcoa, Kraft---including reverse splits, etc.? I think not. Nice try though.
New world---Buy and hold is dead. If you practiced that since the beginning of 2000 you have likely made nothing as you got clobbered during the meltdown. Even today, major blue chips are no where near their pricing from over a decade ago. Using Buffet as an example is like using Gates as a rationale that you know about computers.
Another week of selling and then everything depends on the numbers. Hovnanian expects a profitable year in these last 2Qtr's---so the numbers better be dead on. If we get another Ara speech about softness this will drop into the low 3's, high 2's.
When your stock refuses to take advantage of a steady stream of rising markets, it's time to move on. It's one thing I actually agree with. Gotta strike when the poker is hot.
You would always close by 4pm regardless. There's no thinking or hoping on this trade. You're simply riding the day traders from 3:30 to 3:59pm. Never hold over to the next day.
You think you have a chance don't ya? At least the casino will provide a comfortable seat and air conditioning and a drink. HFT's are locked onto stocks like no other. You're only chance is buying some penny stock and winning the stock market lottery as they announce a drug approval or buyout or some other deal. Otherwise you own BofA up 15 cents, down 30 cents, up 30 cents, down 15 cents. Stock market is a controlled game. The only stocks let loose are those with pending BIG news which will 25X volume in one day.
Like printing money. I'm amazed people don't see it. You don't even have to be a trader or knowledgeable about stocks. 3:30 is the cattle call for traders to exit long positions. Just short it. I've never been more serious in my life. Had you been doing this everyday, you would be up to choke an elephant.