Have traded this stock on a trailing stop loss 2 or 3 times over...

Have traded this stock on a trailing stop loss 2 or 3 times over last 4 mths or so with limited success.
The shareprice is trending down which does not lend itself to any confidence in support levels for entry.
Earnings uncertainty in medium term is hurting this stock, also lack of transparency of margins re China LPG deal.
Also on the agenda is potential takeover of smaller entity which markets hate short term but learn to love over a longer horizon.
To launch a bid that would not have an immediate positive impact on earnings and profitability would be a negative. (I do not think they will takeover HDR)
At the moment having much more success trading STO.
This stock not being in such defined downward trend makes identification of trading ranges much easier.
As a rule I only trade (as opposed to investing) in oilers as the price of the underlying commodity is so volatile and subject to political whim.
Over the last couple of months have gone from a WPL bull to a 'watch closely but do not have a clue where its going' brief.
Oil spec's EPR,CUE and NWE are interesting.

Rob.