I think timing is possible, but you have to be very, very detached to do it correctly. Either that, or you have to go counter to your instincts. When you want most to hold on to a rising stock, sell, when you want most to sell, you must hold on, and sometimes buy more. Of course, that only applies to companies where you like the fundamentals and feel they will ultimately do well. That's why a core holding and having, say 20%, of your holdings available for trading (assuming they are in a tax deferred account), isn't a bad way to go.

It ain't easy, though, but it helps to have someone you respect (and who usually is right) keep telling you that the company, or the sector, is the right one.

As an example, I've had good luck with Potash (POT), buying on significant dips where normally I'd be getting somewhat scared and think, "oh, crap, I'd better get out of this one, it's run its course." Instead, I would buy a few more, and it's worked out. There, the guy I follow is Don Coxe, and he always seems to make so much sense.

That's one good example, but, of course, I could fill several pages with stories that did not work out.

Seems with NOT, the stock does rise nicely on very good news, and it might even rise for a couple of days, but then, it relaxes and gives some back. I doubt I'll be playing this game with NOT (I don't own sufficient shares to to it, and likely won't buy any more, unless there is a significant dip sometime after anticipated results on E2), but I think this stock does give one an opportunity to hone one's trading skills.