climax tops will burn ya

My trading buddy bought SIM at 10.35 and watched it go up everyday all
last week. I thought it looked similar to ERS and IFO (now IFON) when
they topped and told him so. He had 20% profit on it last friday and
was wondering what to do. I suggested selling half. He declined.
Monday it went down for the first time in 8 days on what looked like a
lot of churning, and today the sellers swooped in. He got out at 10.79
and ended up with 4% profit instead of 20. It was brutal, 10% drop.

The lesson here is that if something's going straight up, you better be
careful with it. Don't be afraid to get out on the first sign of
weakness.

Also, I think you have to write yourself notes after something like this
happens to you. Or the next time you'll think, "ah, this is nothing.
Look how fast it's gone up 20%. It'll keep going." or "This might just
be a blip and then it will keep going and I don't want to miss it."