I am not a "religious" man when the market is concerned. Core issues are situations that warrant holding due to a good growth/value metrics, but when the markets are weak or when rapid profit opportunities arise, it is a sin not to take profits when offered. Swing positions are held despite rich valuations (like COCO, IDPH, AMGN and BSTE) because they are momentum stocks. The theory of the "greater fool" applies to swing trades. By the way, on PII, I was shooting for $2, but it went short less than a dime from my price, so I accepted just $1.25. (g).
Zeev