Re: [CANSLIM] When To Sell - Per CANSLIM

From: musicant@autobahn.org (Dan Musicant)
Subject: Re: [CANSLIM] When To Sell - Per CANSLIM
Date: Mon, 07 Apr 1997 04:34:41 GMT

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On Sun, 6 Apr 1997 18:23:10 -0500, you wrote:

:Hello Group!
:     One of the hardest points I have understanding in HTMMIS is Mr.
:O'Neil's exact selling point in certain circumstances. It "seems" to me
:that he wants to sell some of a position when it is up 20%. I, =
personally,
:deviate from his method if this is really true. If after a week, a stock=
 is
:still up, still performing very nicely, graph is still intact, volume is
:still performing as an advancing stock should, nothing else has changed,=
 I
:purchase MORE of the stock, not selling any of it." I have been keeping
:records and tracking results once since 1990. I have found that this
:practice has me soooooooo far ahead of selling some at 20% that it is
:LUDICROUS for me to even imagine selling any at up 20%. Hopefully, I =
have
:just misread, misinterpreted, misunderstood something. To recapture seed
:money? Did he not say he fired a broker for suggesting that? Just a =
thought
:and wondering if you have any input. Let's hope Monday is a good day. =
Best
:to you.=20
:James
My first connection with CANSLIM was to go see O'Neil deliver an
address in a sort of auditorium last October or so. They gave out free
audio tapes and two weeks free IBD. WJO showed charts after explaining
CANSLIM and then fielded questions. My ride dragged me out of
there...I didn't want to leave. I believe he asserted several times
while pointing to steeply rising charts with a long stick that he
would consider buying more at various points as stocks continued to
rise. There is no hard and fast rule, and the message was at least in
part that every chart tells a different story, and WJO read them each
as if he were seeing it for the first time as he analyzed it. It was
to give an idea of the sorts of things one might deduce... If you ever
get a chance to see O'Neil give one of these addresses, check it out.
I believe you can call IBD or check out the newspaper for details.

Dan

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