RE: stopped out of most of my shares todayStops allow for preservation of gains. When the trading today bounced off $4.76 and was at $4.85 I put in the stop. In previous days the stock would climb right back to close near the high. The fact that it couldn't hold it's gains and closed near the low is a sign we MAY have hit a short term high. If it falls back and shows evidence of stabalizing I buy back in. It's the only way I can play stocks this volatile. If I had bought in at $1 I may give it more room before setting the stop but I'm in at upper 3s and would hate to have it consolidate back to where I'm out my profits. Do I have tons of faith in this play? I like it long term, but lets face it, they have no committed mill to process their ore yet. The price rise sure seems to indicate it'll happen but you can't bet the house on that. I bought some URE and I'm looking at some others that have firm production plans.
By the way I'm in the mindset that this stock is most likely going to be bought out by the new DEN stock. If it shoots up like crazy tomorrow (doubt it but who knows for sure) then I choose to either reenter higher or pass and look for the next one. Either way I am comfortable with my choices
OT
There are some stocks I own with no stops in place. ROK and GPR are my biggest holdings and I have a small chunk of URE. None of these I feel are the slightest bit of a gamble. All are value plays with very little downside risk. I believe many here believe that of EFR and I wish them all the best in their investment. The only reason I shared I was stopped out at all is I get annoyed at those posters who days after a major correction post that they are glad they sold their share at the high - of course they don't post at the time they sell. I almost never hit a high or a low but I don't believe it's wise to try to do either. Catching falling knives or rockets is not healthy.