I'm still a subscriber to this strategy, and have my hard stops in place at 35 cents. What you have described in the way of market reaction happens 100% of the time.

What I have done, however, is place the hard stops in my registered accounts but not - at this time - on my cash account. If the share price begins to move north, I'll probably stick a hard stop at 50 cents.

As noted previously, I think a "double" is quite possible in the short term. With Noront assays complementing SPQ assays, 35 cents seems a "no-brainer". However, $1 - $2 is a good bet for the end of 2008.

Others disagree, of course, thinking a much higher share price. Alas, I will acquiesce, and not argue. But I will still have my hard stops in place.

Snug :)