No, I don't use stop-loss orders on BPT, and seldom on other stocks. . .just my trading habits. I am in most of my shares at prices from 2-4 years ago (although I sold some to cover my original investment), so I am less concerned at this time about losing $5 a share. In the long run, I feel that oil will remain very high, and that the dividends for long term holders will help "smooth-out" weekly fluctuations. As I mentioned, Goldman Sachs and the Financial Times put it in a way that is easy to understand . . .the easy and cheap oil (light sweet) was found and developed decades ago. . .the harder to find oil (North Sea and Prudhole Bay) were also from decades ago and are in decline. . .so the next finds are harder to find, dirty (tar sands) and in places where shipping costs may be higher. . .therefore, high oil prices MUST be maintained to justify exploration and development. . .(the development costs for Canadian Tar Sands has been doubled recently). . so, I think $70 for BPT is probably the floor area at this point.
"I'm wondering if 80 is going to be the ceiling. Whenever it gets that close the buyers seem to go away."
There is no ceiling, it all depends on the price of WTI. Last fall we thought $50 was the upper limit, it bounced off that level 3-4 times before finally continuing its rise. Take a look at the one-year chart: