What’s the number one rule in trading? Never let a small loss turn into a big one. We’ve got five stock picks we want to go ahead and pull the plug on as soon as possible. They’re all either not making enough progress, or aren’t making progress at all. Considering we’ve still got about 30 open trades out there, we can afford to shed some without giving up much exposure.

In not particular order, here are our latest exit recommendations…

CopyTele Inc. (COPY.OB)

We thought CopyTele shares would might consolidate between 34 cents and 39 cents for a while before making the next big jump, but the support at 34 cents broke down today. The chart hasn’t gotten ugly yet, but we don’t need the trade and its likely mediocrity taking up our time and focus. Sell it.

Procera Networks, Inc. (PKT)

Note that we’re going to keep this one on the radar, as the underlying story is so compelling. However, after watching it slide from $1.08 to $0.77 over the last week or so, the smart thing to do is make an exit, stand back, and wait for the right re-entry point. Sell it, but keep it on your watchlist.

Empresas ICA, S.A.B. de C.V. (ICA)

This one just never got off the ground. There’s nothing wrong with the company - the interest foreign construction simply faded shortly after it was stirred up. Sell it.

GTC Biotherapeutics, Inc. (GTCB)

A big breakdown Wednesday followed through with more breakdown on Thursday. There’s no need to stand in front of an oncoming train. Sell it. By the way, the catalyst for the selling was poor earnings… surprise surprise (though we guessed wrong too).

Solar Enertech Corp. (SOEN.OB)

We don’t mind a little up and down from a stock that’s exhibited that pattern before. We just need to see more up than down…which we haven’t from Solar Enertech lately. If 18 cents breaks down as a support level, there’s nothing to catch the stock until 12 cents, and that’s a chance we can’t take. Sell it.

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After last Friday’s 28.8% pop from penny stock Procera Networks Inc. (PKT), I was fully prepared to suggest just sitting back and letting the profit-taking happen before stepping in again. We love the company, but there’s no point in fighting a battle that you’re just not going to win in the short run, but you’re sure you’re going to win in the long run.

Well, as it turns out, I was worried for nothing. Procera not only didn’t retreat much, but it appears to have resumed its bullish tear.

The chart below says it all.

After peaking at 92 cents on Friday, PKT slid back to a low of 80 cents on Monday and Tuesday. Apparently, that was enough to burn off any unhealthy euphoria. The stock’s up sharply again today (on strong volume no less), and we’ve already seen a new multi-month high of 94 cents met.

Normally I’d recommend waiting for a good pullback if you missed the first entry opportunity. This time though, I think we’ve seen all the pullback we’re going to see. If you want in, the risk/reward relationship says you can go ahead and move in. That’s still not permission to get sloppy though - continue to use tight stops.

By the way, PKT crossed above its 200 day moving average (green) last Friday for the first time since August; today’s the second time we’ve seen it since then. Though an arbitrary event, lots of traders look for that particular crossover as a buy signal. So, the sheer strength today could be enough to garner more attention by tomorrow.

The 200 day moving average is currently at $0.887, just so you know.

If you missed the first look at Procera, check it out here. It’s a pretty interesting story, and explains all the recent interest. You’ll also see why it’s undervalued at its current price.

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