Re: [CANSLIM] Know your exit before you enter

From: "Don Canfield" <canfieldd@mindspring.com>
Subject: Re: [CANSLIM] Know your exit before you enter
Date: Wed, 27 Aug 2003 12:16:48 -0400

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No...  I won't necessarily avoid a good stock if there isn't close support,
but it's rare that a stock breaking out of a consolidation base is that far
from support.  If it is, it is likely short-term extended, and is likely to
pull back.

So, as you point out, I believe the best stocks are those which are breaking
out of tight handles, or other such consolidation patterns.  The offer the
best, most dependable points of nearterm support.

Don

- ----- Original Message ----- 
From: "Rolf Hertenstein" <rolfh@mindspring.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, August 27, 2003 11:49 AM
Subject: Re: [CANSLIM] Know your exit before you enter


> Good points.  Does this mean that you don't buy a stock if the recent
> support is much below 8% entry?  If so, this seems like it would be a good
> added filter for choosing breakouts from the best (tightest) handles (or
> bases).
>
>  Rolf
>
> ----- Original Message -----
> From: "Don Canfield" <canfieldd@mindspring.com>
>
> > I let the market tell me when to get in, and a breakout  on heavy volume
> is
> > a great example of this.  I do set percentage stops immediately after
the
> > buy, usually just below recent support, but never more that 8% below
> entry.
>
>
>
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