On Thursday, I took a position in CHNG at $7.48. It promptly went down to $7.17 or so. Thankfully, I did not see it! No, I did not have a stop loss. With a volatile stock such as this, I often do not use stop losses. I'm not saying that you shouldn't, but for some of these wild names, you can get shaken out before the move.
Let's take a look at the chart:
I thought that it was forming a nice pattern. I believed that the VbP bars were constructive, too. Of course, it could have gone down. I sold 1/2 of my position @ 8.06. I still have the other half in another account. I would expect it to pull in.