Dear Harry: A little more than two years ago, I bought 400 shares of stock in a natural-resources company. I saw it recommended by an investment-advisory letter being read by my seatmate on a train. I did some research on the company on the Internet, and I bought the stock even though my broker told me it had no future. Well the stock went up to $48 a share before the big drop in the market, and it then started to falter. It dropped to $36 a share and then started to level off at about that price. Harry, I think the company still has a way to go, but my wife insisted that I write to you about it. It's now hanging in at about $15. Should I hold on, sell it, or sell some of it?

What Harry says: As you requested, I did not reveal the name of the company. In addition, I did not do any research on the company or the company's potential. Sometimes, I just go by the numbers. Here are the rules I follow. If a stock drops by 15 percent from its high during the time I own it, I consider selling it. If it drops 20 percent from that high, I no longer think about it: I'm out. In your case, the high was $48. Reducing that by 20 percent gives us $38.40. I'd be out completely on the day it hit that price. If you are convinced that the company still has a way to go, you might consider leaving approximately your original investment at risk. That would mean selling 200 shares. Two more tidbits of advice. Sometimes the bulls make it in the stock market; sometimes the bears make it; but the pigs never make it.

And, you can never go broke taking a profit. Good luck.