I decided to sell half of my PARL position yesterday once it hit a 10% gain. Taking partial profits is something that I’ve got to get better about doing, especially in choppy markets. I still want to try to let my winners run but at the same time I don’t want to give back too much of my gains. I think that taking a portion of the profits is a good middle ground. That’s something that I should have done with my ASKJ short last week after it gapped down the day after I shorted it. I had about a 8% gain but I ended up with only about 3% after it gapped up the next day and stopped me out. I would have felt much better about that trade had I covered half of the position on the gap. It seems like there’s never a perfect exit strategy (without the aid of hindsight), but I think that locking in partial profits should help to improve my bottom line over time. A crystal ball would be nice too. ;-)