Sayonara, Profits!I started buying PTU at .09. When disaster struck, I was sitting on a five-figure profit and still buying the dips. The Fushima episode has reminded me of a rule I periodically forget to observe: Sell 50% and ride free when you get a double. Had I done that instead of going for a bigger score, I would be thousands ahead today. You never know what can come out of left field to kick the legs out. Oops!
Some weeks ago, I suggested that PTU ought to do a financing, citing the old saying that "You don't finance when you want to or when you need to--you finance when you can." Now, the possibility of a large financing on favorable terms has gone up in radioactive steam. Oops!
I have sold half of my PTU, netting me enough profit to buy dinner for two at Red Lobster. If it drops another five percent, I will bail completely and wait to re-enter at a lower price. Although I still like the company, I don't like its near-term prospects. If the Japan disaster becomes a major human tragedy, it will delay the push for nuclear power all over the globe. If its drill results are unimpressive, it will get hammered, while favorable results will give it only a modest lift. For those still holding long, including me, I hope my pessimistic view is wrong. GLTA.