Friday, October 06, 2006

WebTech Wireless Inc. (TSX-V:WEW)

I trimmed a bit of WEW.V this afternoon on this run-up. There were a lot of buying interests in the last two trading sessions as the stock run up with tremendous volume. There might be something up. Nonetheless, I opened this position in the mid of September and it has gone up by more than 60% in less than a month. While I know I should not sell break-outs in general, this is too much profits to hold on. Discipline dictates to take some off the table. The nature of this tiny stock is such that it probably will return to earth at some point, when I could add some back, preferable at $1.5 level.

Position: Long WEW.V

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