Single stock shots are gambles - with a little information they can be better than Las Vegas game odds - and its fun when they hit big.
Stock gambles that I've sold too early (took the profit and ran) are Apple, IBM, Xone, Vertex and a few others.
In those cases, Warren Buffet was right; buy and keep good companies.
As for "being in the market";
Its been proven over and over again that index funds will perform best over the long run for the investor.
But I'm timing the market too. I believe that the general market will hold up well until Obama's second year at which point extreme caution is my outlook.