Go to Jeff Salisbury LWGate Home Page.From: Andreas Himmelreich <judgejimmy@web.de>
Subject: AW: [CANSLIM] Another Question: Beakouts ...
Date: Mon, 10 Dec 2001 12:05:12 +0100
Next Article (by Date): SAY (was Re: [CANSLIM] Another Question: Beakouts ...) "Tom Worley"
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Hi Tom, yes It is a typo, I bought it for 13.50 ... > -----Ursprungliche Nachricht----- > Von: Tom Worley [SMTP:stkguru@netside.net] > Gesendet am: Sunday, December 09, 2001 3:51 PM > An: canslim@lists.xmission.com > Betreff: Re: [CANSLIM] Another Question: Beakouts ... > > Hi Andreas, > > I will have to figure out why SAY never showed up on my lists, should have and didn't until you mention it. I presume your "15.50" is a typo, as it has yet to trade there? > > For TTIL, it's hard for me to think of buying it here, I picked it up for my VR fund a while ago, up now nearly 60%. I knew this company from some years ago, and expected this kind of results based on its fundies. Just another of my "non-CANSLIM" picks. > > Tom Worley > stkguru@netside.net > AIM: TexWorley > > ----- Original Message ----- > From: Andreas Himmelreich > To: 'canslim@lists.xmission.com' > Sent: Sunday, December 09, 2001 9:41 AM > Subject: AW: [CANSLIM] Another Question: Beakouts ... > > > Thanx for the response !!! > > This week I bought > > ECTX (I figured if USTI breaks out, why should not ECTX, which has even > better fundamentals) and AMWD (a lot of home builders broke out, so why not > AMWD) > before it broke out above the pivot). Also DFXI (fundamentally the stock I > love the most !!!) > > I bought also SAY, but at 15.50, so an actually overextended CANSLIM trade, > which should not be done, but I take the risk, because I think there is a > good chance > that the trend sustaines, I placed the stop, so I do not risk more then 2% > of my whole capital ... > > I am also thinking about TTIL, which is also overextended, but has a nice > Flag ... > > See you > > Andreas > > > > -----Ursprungliche Nachricht----- > > Von: Katherine Malm [SMTP:kmalm@earthlink.net] > > Gesendet am: Sunday, December 09, 2001 2:25 PM > > An: canslim@lists.xmission.com > > Betreff: Re: [CANSLIM] Another Question: Beakouts ... > > > > Mornin' Norm, > > > > Sure seems to me the approach you are describing shows greater depth of > understanding than many professionals have. None of the 4 options listed > are worth a flip unless the candidate is superior and I think that's what > people forget in their rush to fill the portfolio with positions. Your > alternative, which I'll call "option 5" shows a different entry strategy > supported by your own individual style. My own style is to move quickly out > of something if it doesn't do what I'm expecting in the near term. But I > continue to monitor the candidate in case it was a false start, then get > right back in. That means that under some market conditions it might take > me two entries, but my loss the first time is generally well under the 7-8% > rule, so I write that off as "risk control." As you have pointed out, > everyone has their own risk tolerance and patience factor and finding a > strategy that fits that personality makes all the difference in success > rate. > > > > Katherine > > > > > > > > ----- Original Message ----- > > From: Norman > > To: canslim@lists.xmission.com > > Sent: Sunday, December 09, 2001 7:54 AM > > Subject: Re: [CANSLIM] Another Question: Beakouts ... > > > > > > Hi Andreas, > > > > I like, and have begun to use, Katherine's option number 3. This is > not a bad method if canslim criteria are met. If there is good vol on the > right side of the base (unless it's a flat base) then funds are buying, if > the base and handle are correctly formed, if the company has outstanding > fundamentals, if the GRS is good and trending up, if it's peers are doing > well on the average, etc. I know this is a lot to ask but this market has > not been very forgiven for CANSLIMers lately. And often the stock will not > break out for days or weeks or not at all. But you will have the odds on > your side; a good company, with big money support and a good chart. The > only real problems I have noted are 1) that I have to sit around and watch > other stocks on my list shoot up (unavoidable), and 2) if the handle is > 10-15% off the pivot then there has to be a substantial move just to get to > my buy order; this increases the likely hood of a second handle or that my > order will execute and the price will close below that point. I am willing > to live with these risks if the company is top notch. I don't see the low > vol breakout as much of a risk; at least I would be making money. If the > company, chart and GRS are good then I would hold the low vol BO with a > shallow s/l order in place. I guess then I would be an "aggressive value > investor". Additionally, this may be the only way to buy the flat base or > LLUR; they seem to often shoot up out of their pattern quickly. > > > > disclaimer: I'm an amateur with much less experience than most :-) > > > > Norm > > > > ----- Original Message ----- > > From: "Katherine Malm" <kmalm@earthlink.net> > > To: <canslim@lists.xmission.com> > > Sent: Saturday, December 08, 2001 11:44 PM > > Subject: Re: [CANSLIM] Another Question: Beakouts ... > > > > > > > Hi Andreas, > > > > > > > And then you wait all day until they breakout? So Canslim can only > be done > > > by people who > > > > do this full time? > > > > Even a Stop buy does not work because you do not know if the volume > is at > > > least 50% higher then > > > > average. > > > > > > Option 1: If you are trading full time, but don't want to sit at the > > > computer all day and watch the quote screen, use trading software > that > > > allows you to set audible alarms when the stock on your wishlist > meets > > > certain price and/or volume criteria. I do this with Schwab's > Streetsmart > > > Pro. At the beginning of each trading day, I update my alarms based > on my > > > strategy for the day. If the alarms go off, I look at the screen. If > they > > > don't, I don't have to watch at all. > > > > > > Option 2: Use a service that sends these alarms to your pager or > digital > > > phone. Many brokerages offer this option. If your employer has no > problem > > > with you placing trades during your work day, this works well. Ext > rapolating > > > volume intraday will give a feel as to breakout potential. > > > > > > Option 3: If you are working at a job other than trading and do not > or > > > cannot trade during market hours, using a buy-stop-limit is the only > way to > > > make entries at the time of the first breakout attempt. > Unfortunately, these > > > are not volume dependent, as you noted. If you are convinced that > this is a > > > stock worth owning, you set up the trade and see what happens. If you > can > > > check volume at lunchtime, that may help you assess whether or not to > cancel > > > the order if it has not yet executed. If the buy was executed during > the day > > > but on your end-of-day review you see that the appropriate minimum > volume > > > was not met, sell it the next day. Plain and simple. Cost of doing > business. > > > While a stock breaking out on below average volume may not > necessarily fail, > > > the *probability* of failure is higher. That's reason enough to exit > the > > > trade. > > > > > > Option 4: If the stock broke out but finished the day within 5% of > the > > > pivot, place a limit order for the open. If you get it, fine. If you > don't, > > > well there's 9,999 other stocks in the universe. > > > > > > Katherine > > > > > > > > > > > > > > > ----- Original Message ----- > > > From: "Andreas Himmelreich" <judgejimmy@web.de> > > > To: <canslim@lists.xmission.com> > > > Sent: Saturday, December 08, 2001 9:55 PM > > > Subject: [CANSLIM] Another Question: Beakouts ... > > > > > > > > > > How do you spot breakouts? > > > > > > > > OK, I have a watchlist on stocks that are fundamentally and > technically > > > interesting. > > > > And then you wait all day until they breakout? So Canslim can only > be done > > > by people who > > > > do this full time? > > > > > > > > Even a Stop buy does not work because you do not know if the > volumne is at > > > least 50% higher then > > > > average. > > > > > > > > Alternative is to buy on the second day of the breakout, but this > should > > > only be done if > > > > the price is not higher then 10% above the pivot? A lot of > breakouts do > > > 10% and more on the > > > > breakout day. > > > > > > > > So how do you do this? > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > << Datei: ATT00013.htm >> > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > << Datei: ATT00000.htm >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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