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Gold/Mining/Energy : Uranium Stocks

URNM 55.64

-0.1%

Dec 22 4:00 PM EST

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To: Cheeky Kid who wrote (5849)	1/1/2007 6:28:24 PM
From: TheSlowLane	Read Replies (1) of 30233

Been there done that, as well. There are a couple of ways that this can be addressed. One is to periodically cull partial profits on positions when they are clearly overbought. This will insure that you get some money off the table that can be rotated into oversold stocks or other asset classes altogether. Another idea is to study previous manias such that the characteristics will be more easily recognizable when they are manifested. Charles Kindelberger's "Manias, Panics and Crashes" is a good resource for this. Another way is to put in sell orders at prices well above current prices and at levels where you would be happy to take profits. You can always adjust the sell prices down, if market conditions seem to be eroding, but having the orders in place serves as a reminder that profits need to be taken at some point.

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