LOL, I had my fair share of discussions with @snakesnladders...

LOL, I had my fair share of discussions with @snakesnladders ,when I was an outright trader. He gave me the same arguments you just unloaded on him. Just he probably was a fraction better still, reminding me of the slippage between selling and reentering, by not always picking the absolute highs and lows.
Well, even though he was totally correct, I was making money and so I was quite contend with what I was doing. I probably did have and still have the edge on him re charting, but then again I never stopped adding to my toolbox picking up on other theories and methods. Snakes uses TA and FA to enter and exit when the time comes. I like it how he bounces TA things of me and makes me rethink my ways.

These days we both have mellowed somewhat and with LTR, even though not from the very beginning, I have come to appreciate his buy and hold principals. This you can see when I drag out the example of Blind Freddy, who must be a very happy buy and hold investor!

The thing is though, when you are just getting started in a particular stock you have to overcome that initial hump, before you can settle back and enjoy the ride. As I see it, that's the situation with snakes is in right now. He jumped in and enjoyed the initial ST run up, but then the trade turned against him. So following his trading rules, he took profit and/or cut any potential loss. Text book stuff and well done!
The alternative would have been to hold take the paper loss down to $1.32 and and average down. However you will find that against snakes rules,"never average down!"Now seeing the potential low is in place he is looking to reenter, because as he said, he likes the sector and particularly the FA of LTR. I hope it works out for him this time.

In closing I feel some here are over protective of LTR, which IMCO does in some case leads to misjudgements of new investors!