First, let's take a look at a chart of WH, a Chinese tubular steel manufacturer who sells to the oil and gas industry (and has been recently hit by tariffs and the mini implosion of E&P stocks).
This stock has been in a steady decline. No, I did not have a stop loss on it. I seldom put stop losses on these speculative stocks due to the large shakeouts that occur. Hold your admonitions. That is my decision based on my consideration of my risks (and I size my trade accordingly)...your risks can and will vary, so make your own considered judgment. WH has had a remarkable rise on remarkable volume over these last few days--rising 50% from 09/03 through 09/08. It has pulled back in a bit. I'm not adding, and I continue to hold my position.
Second, let's look at CHNG, a Chinese compressed natural gas concern.
CHNG was taken to the woodshed and soundly beaten for not disclosing some debt. I figured that the stock had priced in the bad news (which to my eye and ear was more of a qualitative issue (trust) v. a quantitative issue). I held this in two accounts. I closed one position for a nice profit. The stock has a 13% short interest, so that's a little bear kindling when news surprises to the upside. There is much to be cautious about in both the fundamentals and the technicals; buying at these extended levels is risky.
On a different note, I literally stumbled across the the following chart of CBST to share. I do not have a position. It is setting up for a volatility squeeze. This stock is fixin' to get ready to go someplace.
