A family friend remarked the other day that “sell signals” had been given on satellite radio stocks. I said, “what if they keep going up?” He said, “the idea is to try and get out before the top.” I said, “how can you do that?”
I tried to get him to see that you can’t time the top, that you exit after the peak. He did not see the logic and continued the debate.
This friend has read Trend Following, but instead of debating the concepts within, he maintained his “beliefs” and stood his ground. He is convinced the top can be timed.