"But when you buy quality names while they're on sale in a volatile environment like this, you also have to be willing to take some profits off the table when the stocks bounce back."
Never go broke taking a profit, but you don't always wind up with outsized gains either.
It is basically a judgement call, but with top quality stocks that are on innumerable screens, I would say the analysis has been done and they ebb and flow with the economic data of the day so it is a valid conclusion, unless they are severely oversold, to book profits as they come in quality names.
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