A recent LTC post from a fellow analysts I follow read "I've closed all my long position for LTC above 86.00 level". Should I (you) do the same? We posted "this horse still has legs". Which one of us is right?
Let's draw a parallel. We bought a condo a few years back. The goal was having a second home on the beach when we retire. Many in the very same building bought units as well and are renting them out with plans to sell. They bought with the intent to sell, and we bought with the intent to hold. Our condo is no different than any of the coins listed above. We and others bought in 2013 when nobody believed in Realestate, but we knew this was a quality property and the future was bright. Some that bought in 2013 with us, flipped in 2014-2015 and made a quick 20%-30%. Hey that's great, that's good money. We knew it was still undervalued and now its' up 200%. We have a long term plan and objective and history has shown that if we just hold onto quality assets it will be worth much more than it is now. We are not going to try and time the market with a quality asset, and neither should you.. See we and the Jones's had/have two entirely different goals, objectives, and plans.
So now which one of us is right? Actually both of us. Both blogs were intended for two different strategies, ours is a long term holding trade, and D-mans is a short term hit and flip. We explained we are are trading around a core position, and the other analyst implied it was only a trade. So what do you do? Well first do you have a plan, objective and goal? Next do you have a strategy. Once you get these figured out, the final question is "What's in Your Wallet". I guarantee the graph above has done better as a whole then you have trading in and out. If not you wouldn't be reading this. If what is in your wallet does not line up with your plan and goals, then you need to empty out the junk from your wallet, and tighten it up. Do you own to many speculative coins and not enough thoroughbreds?
If you think LTC, BTC ETH or others will have a 16,000% return in the next year as D-man implied, then as an investor you want to be in, and adding with profits from rentals, not closing out your position. But if this was just a trade because you have a better house down the road, then maybe you should take off some profits or close the position. We mention over and over, have a plan and stick to it, don't be near sided. So take a good look at your goals and objectives this weekend, come up with a plan, and take a good hard look at "What's in Your Wallet", before trading in and out without a goal. Have a great weekend. And yes Beach BBQ 12 Monday!