I used to buy and hold -- I tried holding POT and writing covered calls -- rode it down from 60 to 38 before it started to recover. I have learned my lesson - I now reevaluate the risk/reward and walk away when the risk/reward dictates - I don't fall in love with a stock (well maybe AAPL). I may look at JCP again in a few weeks/months after the dust settles. I like the stock - Just following my new rules. I really think this is an overreaction and we will get a pullback to the 36/37 range before we head higher again.