As always, Phil's Stock World puts the recent rally into perspective.
After gaining about 30% since January in some of the stocks in our portfolio, the best thing we can do is this 2 step program:
Step 1) Take Money
Step 2) RUN!
Haha, I found that funny. But I know a rally, whether it is a suckers rally or not, there will always be money on the table. I know there are much smarter people out there and people greedier than I am so I'll just leave some of the helpings on the table for them.
My sister has a 20% rule, once she hits it, she sells. Simple, basic plan. Make just enough and walk away from the table.
I get greedy sometimes. That 20% turns into 30, 40% and still I hang on to higher hopes. But I also know I'm not that smart and I don't got all the tools wall street and the time that day traders have. So I need to stick with a plan as well.
1. Slow and steady.
2. Look for solid companies selling at a discount.
3. Look at past history and follow it closely. Most stocks follow some sort of pattern...
Anyways, each stock, each company has there own things. Just got to keep your eyes opened and have some nerves to get your foot wet.