If you were in it, I hope you got my note Friday to exit at 166.29. That would have been a 58.2% profit, representing a 16.21R return assuming the Exit A figure on the day I recommended it. That means whatever amount you chose to risk, 0.2% (for example), would have been returned to you 16.21 times. An initial risk of 0.2% of portfolio assets therefore means your entire portfolio would have increased in value by 3.2%. That is an entire month's return in a bull market. It also illustrates why the saying "you can never go broke taking profits" is actually kind of a lie. You need the gains from these big winners to pay for all the losers. This is a lesson I have yet to master; taking profits early is something I do way too often, especially when I'm on the short side. Anyone else exhibit this same self-destructive tendency?
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