I sometimes catch myself having an attitude when I make reference to the tech crash that began March 2000. For over a decade before the market presented us with the greatest bull market in history. In technical stocks the eighteen months preceding the March 2000 crash served up winner after winner. There were signs the market was overpriced two years before the crash. The people who got out too early experienced stress with all the potential profits they watched go by.

So if I give the impression that it was easy to recognize the bubble burst and exit, I apologize. I was there and I remember every day I thought there would be a bounce back also.

I think we could look to a far greater market enthusiast (and perhaps optimist) than I in the person of Bill ONeil, publisher of Investors Business Daily. Bill is a master of school of growth stock opportunities. In his book, How to Make Money in Stocks he presents his approach to identify stocks that are poised to move up. He is not concerned about the advisors who are always looking to buy at a cheap price so they can sell at a higher price. He would argue, Buy high and sell higher is a better plan.

So when a stock completes all the criteria he has in his CANSLIM formula he will be looking to buy and ride it higher. So here is his wisdom that makes his approach full circle. If a stock has all the features of a stock that is going to soar to new heights yet declines in value 7 % he recommends selling your position. You do not have to wonder why. Just do it.

So if we all used his technique (I never let this concept out of my trading plan) we can hope to participate in the next great bull advance and still not bet the farm in the process.