The problem with a stop loss on this type of stock is "the...

The problem with a stop loss on this type of stock is "the hammer".

The Hammer - Announcement comes out - sellers dump - and price drops from 10 cents to 6 cents - and then recovers to close at 10.5 cents. You get nailed.

I stop/loss based on the close price. So I decide at the end of the day (based on end of day data) what I will buy/sell the next day.

Today I am dumping my last stocks apart from IDC and possibly 1 other. I see a technical reversal in the markets (good for gold) and apart from IDC, I only trade uptrending stocks in an uptrending market. Time to take profits

However I will wait for the announcement before I decide whether to run for the hills.