Replies to post #8340 on uWink Inc. (UWKI)

[P K G]

I appreciate you asking. The is no protection against being wrong on the turn but if you do as I did and use margin to buy all the way up on a good run, you HAVE to come out when it makes much of a turn or you will get killed. In this type of trading, you want to get a large base in your position early so future purchases don't raise your average cost to the current price. Just take UWNK. If you could accumulate 20,000 shares by the time it reached $8 (where it would be marginable)assuming it is listed, and then from there up use your buying power to add to your position all the way up as high as it goes. You would sell before meeting a margin call. That is one way that gets you out while you are ahead.
Some people use 7%. You just have to get a feel and go with it. You can't stay long when it turns. In the case of VISX, when it went to $440, I was out at $400 as it turned down.
If UWNK makes a run and I buy as it runs to the teens (17-18). I would probably come out at 12-13 on a turn. You can't play them too close but you have to get out while you have a significant profit.