Looking at today's buying action in oil tankers, I would say not today.   Always use stops, trailing stops and you do not have to worry about that aspect.  The market doesnt care what we think.  IF you have a profitable position you protect it with using stops.  You can do 3 stops.  One at each crucial support.  So you get stopped out and take a profit on one, then if the stock goes back up you still have some shares to ride out the next leg.   Money management is the key to successful trading, buying is the easy part. 

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