Up, Up, and Away!

I bought stock in Ventana Medical Systems back in March 2006. The stock was trading at about $42 per share. I bought only $500 worth, to start. By mid-2007, the stock shot up over $75 per share, due to a possible merger with another company. Unsure whether I should sell, buy or hold, I decided to sell part of my shares to lock in a profit - of around $400! My remaining shares have since soared past $85 per share. I'm waiting for the stock to drop back down to buy more. Not bad for my first stock purchase!

- Daniel Garland, Tucson, Ariz.

The Fool Responds: Congratulations. Many people like to lock in a profit when they can. It can make a lot of sense, though, if the company is still firing on all cylinders, and if it still seems undervalued, you may want to hang on. Regardless, ask yourself which stocks seem the most promising to you, and park your money in them, not in companies in which you have half-hearted faith.

Do you have an embarrassing lesson learned the hard way? Boil it down to 100 words (or less) and send it to The Motley Fool c/o My Dumbest Investment. Got one that worked? Submit to My Smartest Investment. If we print yours, you'll win a Fool's cap!