Hi Barney,
I am not a day trader so my advice is moot. (Personally, I don't use stop loss orders. Its a bit like painting a sign on your back: "Take my money, please!")
If I thought that TSE was fundamentally worth less that $3.12, I would sell my holding now. As it is, I think that it is worth considerably more, so I am watching the price action, counting my cash and wondering at what level I might have at few more.
Good luck. DYOR
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