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Reggie,

Your post on January 25th repeated here below fascinated me:

Do you apply the same or a similar method for other stocks as long as there has been no material change in your outlook based on your fundamental analysis?

I am a newbie to your site, and so far I am very impressed especially with your handling of your "challenger" with clear, dispassionate explanations with just the facts.

Thanks in advance for your response.

I'm on my 3rd go around profiting from PNC (every time it shoots up to $70-80 or so, I pile on again). There has been no material change in my outlook except for the recent acquisition putting it in an even worst position than it was previously, which (form an anecdotal observation perspective) pushes the valuation band down. Since the research is driven by my investment outlook and I have already extracted significant profit from PNC (several times) it is not worth it for me to revisit the report with more resources. I (like you, hopefully) should be playing with the house money by now with either very deep in the money puts, several series of expired calls sold, or short positions that should have turned over considerably more than 100% profits, thus providing plenty of cushion to ride out the volatility caused in case it spikes again.

I'm prepared to ride out my current position for quite some time. For those who may get trigger happy or nervous, I suggest you lock in your profits now, assuming you have been catching it at $70 to $80 as many on this blog has suggested when the price shot up.