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Gold/Mining/Energy : NovaGold Resources Inc. (NG) -NYSE MKT -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (21)	3/14/2014 12:16:43 PM
From: The Ox	Read Replies (1) \| Respond to of 129

Made another new high for the current move this morning. Underlying gold prices have been very supportive, so I would certainly watch for a change in trend but I wouldn't anticipate it or try to guess that one is coming. What do you do when you get one like this? For the most part the conventional wisdom is to let your winners run. If you may need the money soon or don't trust the price, then my suggestion is to keep a trailing stop in place and move it up as the stock price increases. Another way to play this is to take out your original investment dollars and leave "free" shares as a longer term investment. Then one can feel free to trade around these "free" shares, taking profits on run ups and putting money to work on significant dips. If you take out plenty to cover all costs, taxes, some extra for picking a winner, etc.... then whatever you leave behind can be left for many years to grow. If this company is just starting to reap the benefits of their mining operations, then it may be you got in "on the ground floor". Also, you can place another stop much lower to take the money off the table, protecting the balance of your profits. If the stock continues to soar and you take some off the table, the hardest part is not looking back and questioning the profit taking as a "bad move". If you pull some down, you are doing so to protect your asset from risk. So you can't look back and say "I should have left it in the stock" because then you were adding to your risk, not reducing it.