Clearly some need to read this again...I added my notes lol

http://www.vette350.com/2012/08/the-only-way-to-win.html

Based on my many interactions with investors over
the years, I have concluded that there are really just two types.

There are those who have clear goals, and those who don't.

All of which delivers me to the point.

Namely that it is very important, especially for the resource investors among you, that you actually have a firm goal in mind for each investment you make – and that you remain single-mindedly focused on that goal.

Do you know exactly why you own the resource stocks you do (YES)?

What hurdle are you betting they will clear next (FEASIBILITY), and by doing so ratchet the price higher (YES) ?

Is your goal to get your original investment off the table on a double(NO, 25 BAGGER)?

Or do you have a specific price target in mind (YES, $5 MINIMUM), at which point you will close the position entirely and move on to more fertile ground?

This idea of keeping an easily understood, single goal in mind for each of your investments is hugely important, because without it you are going to be susceptible to the fears, fantasies, and folly that ultimately cause investors to end up on the losing side of the equation…