Stop Loss OrdersToday should serve as a textbook example of why you should not place stop loss orders for illiquid penny stocks.
It is a good loss minimizing strategy in a liquid/deep market for a stock going against you, but not something you want to do in an illiquid market. It just leaves you ripe to be taken advage of by more savvy investors. Whom ever suggested to do this in a post should receive negative stars (if that's possible).
Today's drop, although unfortunate, is a good thing for those with a 6 - 12 month time horizon. What a great entry point at a deeply discounted valuation. The best part about this selloff is that it is shaking out the weakest of heands. I'm sure this is the reason why VRY is up 50% today as I type this.
~S