Rockland Funds

Process - sell discipline

A full position in a security is rarely sold the first time. It is usually pared back when cautionary signs appear.

We sell when:

• a stock shows downside gaps, usually indicating many institutional sellers present. High volume begins to change to the downside.
• a stock exhibits deteriorating relative strength, suggesting the stock is beginning to lag the overall market.
• a stock demonstrates “blow off” formations.
• earnings fall short of expectations or fundamental strength deteriorates.