In response to Sula

Exit Strategies:

there are so many approaches, but every individual must figure out what kind of strategy best fits with their personality.

for me, I had to take the emotion out of the exit strategy completely. so I use a very rudimentary technical approach. I am not really recommending it, but it works for me, and probably others as well.

If you look at a weekly chart of the SPX, and plot a 20 wma (weekly moving average) and a 50 wma on the chart, you will see a pretty good buy and sell signal for the overall market. it keeps you on the right side of the trend, which is what you want.

once PTK starts trading on the Nasdaq and enjoys some steady volume, and settles into some kind of trend, after, I am assuming, some really big moves higher, you could plot the same moving averages on the weekly chart.

using a weekly chart leaves lots of room for volatility, but at some point, when the 20 wma crosses down thru the 50 wma, I will sell. All of it? Probably not (since my basis is so low), but that can be a whole other set of decisions for the individual.

no trading strategy is perfect, but this approach has saved my ass a lot of times with some of these canadian venture stocks, where the market stops supporting the story, long before the company even hints at any bad news.

going the other way, you will never even come close to catching the bottom, but once the 20 wma crosses up thru the 50 wma, the market is supporting the story (again), the sector, the earnings path, however you like to think about these things.

some might argue that this is far too simple to work, but I would counter that simple = robust, and its the simplicity that makes it work consistently in all market conditions. yes, you can get whipsawed around, but the cost is in emotional terms FAR more than capital terms.

if anyone has trouble showing this on a chart and wants some help, just PM me.