Lesson for next time ... as Cramer says ...
Bulls make money - Bears make money - pigs get slaughtered.
I bought TPIV at .22, .25, + .26 in May.
I like the company, I like it long term, but when something is up 500% in a month, you KNOW there is going to be a lot of profit taking. Even if the market kept going up it would happen, when the whole market is selling, FEAR to protect huge profits kicks in even more .... do something before hand to protect yourself.
Staggered stop limits however you think is best when it's at 1.50.
1/4 of your position with an activation price of 1.20 so you don't get triggered on a little burb.
1/4 of your position with an activation price of 1.05.
1/4 of your position with an activation price of .95.
You have a ton of profit in your account and the value of your position is still more than you originally paid ... and it's basically free.
You want to own more, buy it back when it's cheap, but that's the question, what's cheap?
What's the psychology, the lower it goes, the more those last holders want to protect what's left of their profits because they are kicking themselves not selling sooner, so they sell and it goes even lower.
It's not going to go down back to .22 or .30 because at that point they say, screw it, I might as well just hold it. But somewhere between 2 1/2 to 3 1/2 times where it started it's run seems to happen often on these small stocks.
It started at .22, so a reasonable bottom would be in the .55 to .77 range.
PROTECT PROFIT and buy it lower if you want to hold a bunch long term.
Look at it like this, you buy a stock, it goes up more than 100% over a short period of time, put in a stop loss/limit on half of it. You get triggered .... FINE, you got back your original investment and keep half your shares FOR FREE.
Do that over and over and you wind up with a large portfolio of shares in stocks FOR FREE.
You've heard it before, it's the whole greed and fear thing, there's no shame in taking some profit.
Small stock or larger stock, same principal, I've got stop losses in for half shares on BLUE, up <600%, JUNO, ALNY etc, if it all gets triggered, FINE, I'll live with the profit and keep half the shares for free.
If you held this the whole time and your lucky enough to see 1.20 or 1.50 anytime soon, put in stop limits, because if it jumps up again, people will take profits AGAIN.
