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I've been in that market and I remember some of my stocks climbing 30% a day!!!

It was sheer madness. Complete mass hysteria.

Phil made the dosh like most ppl did. However, the big difference being that he kept most of his gains (ie bailing out when the tools tell you).

Arguably, you can make more if you follow different exit strategies or, trade on the 200 day MA for eg. But that's with hindsight. And with hindsight you know what has happened and it's easy to perfectly trade. However, when stocks begin to go south you wonder where it stops, when it stops etc...

Thus I reverted back to the 10 day MA as exit signal. I rather give up a few % in gains than have it all slashed (like it happened to me 6 years ago).

Bail on the tools or whatever signal you have. Preserve your capital.

Rule#1: don't lose money
Rule#2: don't forget Rule#1

wisdom indeed.

PS: back then i turned 40,000 points into 120,000 points in a matter of 6 months. I can well believe Phil managed to ride that one pretty good --astonishing himself. You gotta be in a market going completely apeshit to do these sort of returns. Phil, and even Warren, were in markets where --armed with the right tools-- they could severly cream it off.