NEXT THING to consider is how many TOTAL shares to buy Long. I read an article by a stock guru who believes one should not buy more stocks than can be sold during a single run-up. If you believe that, then IMO, one runs the risk of not being able to re-buy back in. So, what does one do? How does one calculate the number of shares to buy so you don't say I SHOULD OF BOUGHT MORE STOCKS! I've said this enough times when I buy less than 100K shares that I've made a rule. Don't buy any stock unless you can fill a minimum order of 100,000 shares. IMO, that also goes for newbees who may have a streak of beginners luck.
I'm not a shorter, so I'm not talking about buying long, selling out, and catching the ride back down.
Beware Bull's Ready to Run - Before investing $ do your own dd. All posts are my opinion.