>>I don't like to put over 40 percent of my portfolio in any one stock - a stupid self imposed rule to keep myself from overreacting to downturns.
Not at all a stupid rule I don't think. 40% is quite a large allocation for any portfolio unless you're absolutely sure.
I also have accumulated quite a large position in UUU and expect it to continue doing well. However, unless there is some ridiculous drop I am going to wait until after the next 10-Q to continue any buying. I really would like to see what kind of impact the Home Depot retail distribution and conduit acquisition makes before adding to the position.
My rule is more like 6%. It has served me well. Nothing is guaranteed. EVERY company has potential substantial risk, even if the odds are against it. I much rather leave some huge gains on the table than risk huge losses in any one stock. To each his own. If 40% works, more power to you.