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The Turkey

Remember Le Fevre's the "Turkey" in Reminiscences of a Stock Operator. The young guy told him, sell, take your profit. The Turkey says: "It's a bull market. I don't want to lose my position."
Jim Sogi
Daily Speculations, February 16, 2019

That's the problem with these bull markets: they keep going up and up, and you can't get back in if you lose your position. And they can keep on going for years. It's one thing to catch the bottom. It's another to hold for the bull run in size.