I don't know why so many people are like this. I didn't have the slightest inclination to sell. My only reaction was "major buying opportunity!"
Selling is the hard one for me. I always remind myself, if you're thinking, "There's no way I'd even think about buying at this price", maybe you should be considering selling.
Buy and the SP goes up, sell and the SP goes down. Buy and other people sell and you lose money, sell before other people sell and you make money, but might miss out if you forget to buy again when it is low. Long term it is going up, so hold also works, and very often much better, if diversified.
Many of us have the caveman instinctual programming that we should keep our food so that later we can eat. Selling is a strategic logical decision that we are mentally poor at making. We need to overcome that and look at the proper risk reward and outcome, and for short term needs sell high more often (also hard but not nearly as hard for me is not selling or buying for long term holdings and just holding; I find that relatively easy). I know that's what I failed to do in December and again after the "Am considering taking TSLA private at 420; funding secured" tweet at around $380 before the doubt kicked in not too soon afterward even before it was announced the deal would not go through (since my short term needs were I had too much margin AND I ended up buying a cheap car, and in retrospect I would have made more money on the price action). Then again, when the deal was announced as dead, I should have realized the resultant drop aferward and once again sold some. I ended up shoring up my position and getting spending money at lower prices even than that.
Remember, this premarket action is the good news upswing, so anybody with near term needs (i.e., high margin, needs to buy something, etc.) should seriously consider what the possibility of it rising further is. My approach if I had near term concerns would be to sell some on each good anticipation of good news expressed in the SP, so in other words, right now, then again later today if it goes up more, then again if we get hints of good numbers and it goes up more, and then again if the numbers come out and it goes up more, and as we know, each one of those "up" events is more rare than we think so none of them are promised, so we should look at the proper risk reward, rather than the caveman attitude of "I want to keep my food for later".
Again, each one of these is a self-fulfilling prophesy: those with short term needs would be afraid of the SP going down, and would sell, thus pushing the SP down to where they feared it would go, whereas if they had held or bought, the SP would have gone up, in aggregate numbers, so let's hope very few people read this post of mine and took it to heart simultaneously.
