Although one of my three rules is that only closing price is a stop price, there are instances where the potential extra profit is dwarfed by the risk. My long position in SLW is one such example.
I bought this stock earlier this month for $2.80. It is up 100%. It could tack up perhaps another 50 cents or so, but I would rather take my 100% profit on this speculative position than hope I can see it climb a little higher.
