I tend to take very little in profits on runups prior to a discovery in small exploration companies like ERHC. I invest in these companies to find oil. While the run-ups prior to discovery can be substantial, I feel that the real payoff comes with discoveries and I want as many shares as possible when that happens.
Of course I also own a basket of these type of stocks so if I hit on just one, that is all it takes to make a million. I certainly understand different strategies including trading and taking profits along the way. All are viable stratgies.
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