I sold my shares when it broke below $1.51. News may come that could give the appearance that it was a mistake, but this is how I control risk. Based on TA, this could easily trade down to $1.39 (strong support that has held). If $1.39 breaks, this could drop much further.

http://stockcharts.com/h-sc/ui?s=PTK.V&p=D&b=5&g=0&id=p13754559970&a=411909598

9 Week Moving Average ($1.52): This is essentially the 45 day Moving Average. I use this as a trading line in the sand. When a stock is moving above this line, you can capture much of the upside. When it's below, I don't invest so I can avoid the downside. If you're a beliver in a stock or a resource and you have dry powder, you can always cost average down as a stock moves lower. But, the time of a correction can be painfully long and doesn't care about investor patience or news releases...