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Interesting Points.... and certainly won't argue with your investment approach... For me, I like to build essentially free long term positions by making some short term trades. As an example, I'll buy a $5000 position, when I believe a stock is at or near a near term bottom, and when it rises 10 - 20% (sometimes in the matter of a few days to weeks), I'll sell $5000 worth, keeping the gain as a long term position... With CBI, I did this three times and have just shy of $5000 in gains, which is now a long term holding position.

For full disclosure however, with the last few days run up, I have sold covered calls (Januaray $30's @ .70), to boost my return, since I think in the short term, $30 is unlikely.
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