Who can forget President Bush saying, "that's what these accounts offer people: they offer people a chance to invest their own money in safe, conservative stocks and bonds - they can watch it grow over time - to add on to, to compliment social security."
We all know where that plan ended. Black October brought our financial system to the brink and caused pension funds alone to lose $2 trillion dollars over the last year.
But buy and hold might not be entirely dead, at least according to Pete Najarian. "It’s the time frame of the hold that’s changed," he says
In other words; take a look at duration. Understand the duration of your trade.
“For example, if you’re looking at Intel and you have the guts to buy Intel and you get a 15% move to the upside, take your money and run.”
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Trader disclosure: On Nov.12, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (SDS), (UUP), (WMT), (MSFT); Najarian Owns (AXP) Put Spread; Najarian Owns (CHK) Call Spread; Najarian Owns (PTIE) Calls; Seymour Owns (AAPL), (BAC), (F), (MER); Seygem Assset Management Is Short (RSX); Finerman's Firm Owns (OIH) Puts; Finerman's Firm Owns (MSFT); Finerman's Firm Is Short (USO), (VNO), (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (BBT,), (GNK); GE Is The Parent Company Of CNBC
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