Exactly Squeegee. Let's say we have a spike and I'm tempted to sell at some point in hopes of reloading at a lower price. Sounds great right? WRONG. The price must retrace at least 30% for me to break even on a repurchase. 50% retrace might work but who wants to risk losing one's leverage on that? Plus, once I sell my stock I have led a year then tax liability jumps from 15% to over 30%. I'll ride the longer trend on this one.
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