four horsemen

Just to point out that I'm not trapped in the bearish camp, I have no problem envisioning alternate outcomes as well.

Nothing wrong with surveying the landscape and planning around possibilities. Be nimble and have a plan no matter how you might perceive the technicals.

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Yahoo.com shows Exxon Mobil Corp. stock symbol XOM trading at $ 0.27 / share on 2 January 1970 and $ 93.13 / share 1 October 2007, adjusted for splits and dividends. The price increase is about 345 fold or about 34400 percent. From 2 January 1970 to today XOM stock appears on the new high list many times. Each appearance on the new high list is a reason to sell the stock. If I sell the stock then I don't make the 34400 percent gain.

If the stock appears on the new high list then the price value is increasing. Emotionally it is hard for me to hold a big winner. Yet to make big money, holding winners is exactly what I must do.
 
Quote from hoodooman:

I just daytrade but in my"book" if rolling earnings per share is continually up then the trend is up.
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Not a bad argument at first glance, but wall street can be very fickle on that. If EPS is growing linearly, while price is rising in a parabolic fashion, the two trends don't necessarily continue hand in hand.

A former horseman can attest to that.

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