if you're dealing with pharma techs or stocks, when the fda decides whether or not to approve a given treatment, these are data points that could send a stock soaring higher when they go your way. you need to know there's a moment to buy before the catalyst and a moment most importantly that seem to get wrong, too, after the catalyst happen. sometimes the event won't work or maybe the data point you're speccing turns out to be less. when you buy a stock as a trade, it has a limited shelf life. once the window passes, you must sell, sell, sell. if you rack up nice gains, there's no point in sticking around. ring the register. but if it turns out to be wrong -- >> the house of pain. >> you still need to -- >> sell, sell, sell. >> when you buy a bottle of milk, you don't drink it after the expiration date. you throw it away. and you never, ever should own anything without a reason. people fool themselves into doing the right thing. more often than not, they get crushed. without a catalyst, you don't have a trade. if you find yourself in that position, you had better sell and cut your low