"Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom."
Well some traders would argue that a stop loss should have kicked in, probably at around $10.
They one should have looked for a clear reversal & uptrend & re-entered, so possibly around $3.
That way they could have made over three times as much.
However, it's much easier in practise of course. Plus, if ctp hit a mass of oil, it'll cost heaps to get back in.
cheers
announcement, page-32
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