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Wednesday, April 18, 2007 7:06:10 AM
My #1 rule: "Make a profit but most importantly TAKE A PROFIT".
If this was your overall strategy and WRNW hit your profit target then then you win.......but to play he flipping game in this emerging O&G sector can be very unpredictable and can actually cost you dearly taking additional profits gains, yet alone the added capital gains for short term plays.
If your intent is to stay with WRNW for bigger gains then I would have suggested the following strategies:
1. Held 50% of your original stake....staying in the game with some skin (original entry) or;
2. Sold the amount needed to cover your original investment "seed money".
Too many times the flipping strategy often costs you additional profits that you could have easily captured if you held on (full position or part position)thru the overall process.
But then again you made a profit that you can show and that is what this game is all about.
Kels
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