CGB ...

Thanks for the question. All questions welcome ... whether I can answer them is ... another question :}

I've been in Spider Resources for a long time. Initially saw this company mentioned probably around the year 2000 in a small little article in the Financial Post.

I have built up a considerable position at this time including the 25000 shares bought the other day. I don't think now that there is a huge downside risk - maybe to 10.5 - unlike a while back when it got to 8.5 cents.

So to tell you the truth, I don't have an exit point for the 25000 - the upside opportunity is too compelling at this time. Once, however, the share price elevates into the 20s, then I will have an exit strategy for a portion of my shares. At one time I was concerned about the $9.95 charge per trade. I now realize that taking 25000 or 50000 shares off the table for a large, large capital gain at the cost of $9.95 is a no brainer.

It is my gut feeling that SPQ will move strongly toward $1.00 in the next 4-6 months. Taking profits along the way to lock in some gains will be a smart strategy. Let's say, for example, the share price goes from 30 cents to 45 cents (50% gain), why not take 25000 shares off the table. If the share price retrenches to 35 cents, you buy in ... if it moves to 55 cents, buy in with 15000 shares, and wait for another retrenchment. You're always ahead this way.

In these situations with high volatility, and large numbers of shares being traded, there are always EXIT and ENTRY points. Just figure out what they are the night before, don't be greedy, and stick them in the following morning.

Hope that helps.

Snug