Profit Taking in PYR.V

I would advise everyone to take profits whenever they have an opportunity because it limits your risk and exposure should the trade turn against you. That is what I did with my Pyramid Petroleum, my best prospect for 2008. Stocks never go up or down in a straight line and price movement is never easy to predict. To protect yourself from uncertainty, I suggest you should trim your position on any significant rally and buyback shares at a lower price. If the price keeps inflating, so what, at least you still have your foot in the door to ride the move for more profits. Also, you can tolerate a price decline because the profits you have banked limit your loss. Holding onto a stock forever without taking some off the table is just greedy and one whisper of scandalous activity in your company could cause a sharp downfall.

I got lucky with a day's low $0.405 purchase for PYR.V on earnings day and no way was I gonna pay the premium at $0.50 which was the day's high. Of course, I would have preferred paying $0.355 of the previous day's low, but I had to do my research before entry. Today I sold half my positon at $0.50 after a two day gain of 25% for the reasons I've explained previously. Although I believe ultimately this will be a $1.60-5.00 a year from now, the interest and coverage takes time. I'm sure I'll get another chance as the shark traders knock the stock price around. I hope we see sub $0.40 again so I can load up more, but I worry that demand will pick up sooner rather than later.