Taking (partial) profits

Today is why we take partial profits, while letting the rest ride.

Sinovac Biotech (SVA) dropped $2 down to the $9's. A friend I helped sold out yesterday at the peak at $11.25--most of us sold out in the $9's Friday. Not bad given we bought in the $4's barely more than a month ago.

It is impossible to buy at the absolute low and sell at the absolute high--no one has a crystal ball (although my friend's fortuitous exit was near the peak). However, we can buy lower and sell higher. Now that we're playing with house money, we can focus on other opportunities without getting emotionally attached with one winner.

Having said that, this swine flu play is hardly over. Those of us who got in back in May are REALLY doing well, waiting for more breakouts to the upside--again, with house money.

On a related note, SVA received a commitment of orders from South Korea today, in addition to receiving approval for their flu vaccine from the Chinese State Food and Drug Administration (SFDA) yesterday.

http://finance.yahoo.com/news/Sinovac-Announces-Supply-prnews-1032672347.html?x=0&.v=24