I put a "hard stop" at 35 cents on some SPQ shares today. I did this because I want a sell strategy when SPQ starts to move up. (Of course, this assumes SPQ will move up. Do your own DD.) I believe with the ongoing drilling by SPQ-FWR and NOT that we will reach a "tipping point" soon where share prices will move up smartly.

I've mentioned a sell strategy previously. If one makes the assumption that SPQ will move up, it can also go down. People will want to take profits - including you.

I've decided that a $1.00 Cdn is a share price which SPQ can reach in the next few months. So I looked at my average share price, and decided a point where I want to sell a percentage of my holdings. I suggest that all investors might want to consider the same strategy.

The term "hard stop" is the term used by Investorline at the Bank of Montreal. When I place it on my shares, it will be at a price above the current share price, and it is good until the shares are sold, or I take it off. Most financial institutions will have an upper limit on a "hard stop".

Think about it. It takes advantage of upside potential and locks in gains.

Finally, NEVER place a "stop loss" on your shares trying to minimize downside risk. They will be picked off by Market Makers (MM). If you don't know about MMs, do a search on TSX.COM . You will find out about which companies are MMs.

Snug