Go to Jeff Salisbury LWGate Home Page.From: Chris Dempsey <cdempsey@houston.oilfield.slb.com>
Subject: RE: [CANSLIM] PECS & "Rubberband Sell Rule"
Date: Mon, 10 Dec 2001 12:07:35 -0600
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Thanks for your comments.
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Katherine Malm
Sent: Monday, December 10, 2001 5:23 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] PECS & "Rubberband Sell Rule"
Hi Chris,
I agree with you on the vague nature of WON's sell rule and it's the
reason that I was happy to have found these additional criteria. A stock
could easily rise 70% above the 200dMA, but if the price behaves as you
would expect, you'll see mostly accumulation days and the 200dMA will rise
with the price. That would be a good stock in my book!
I keep 3 kinds of records related to buying and selling. First, I have a
buy and a sell checklist. All the appropriate items have to be checked
before I'll buy. When a sell rule is hit, out it goes. (The rubberband rule,
along with a couple of others are what I call "warning" sell rules. I do not
sell unconditionally on this trigger alone.) Second, I make a notation in my
trading journal that will state my general reason for buying/selling along
with other general observations about what is going on that might have
affected the decision. What I'm trying to do is keep a record of my "mental
state" when buying/selling. (The journal itself contains more than buy/sell
info.) Third, a printout of the chart on the buy and sell date. Here I'll
highlight all the appropriate technicals, making note of industry RS and
other things that don't show on the DGO chart. The buy and sell charts get
stapled together and put into a trading journal. All of these things allow
me to go back on a regular basis and find weaknesses. It is through these
kinds of reviews that I am able to enhance a strategy, find errors or
identify my hot buttons. Believe me, there's plenty of those to contend
with!
Katherine
----- Original Message -----
From: Chris Dempsey
To: canslim@lists.xmission.com
Sent: Sunday, December 09, 2001 11:49 PM
Subject: RE: [CANSLIM] PECS & "Rubberband Sell Rule"
Katherine,
Thanks for the idea. Sell rule 34 has always bothered me. "Some stocks
can be sold when they are 70 to 100% above their 200-day. This in many
instances seemed to soon. This looks like it will help determine which
stocks. Have you done any analysis of you trades to determine the accuracy
of this formula.
What records do you keep when you buy and sell a stock?
Chris
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<DIV><SPAN class=528150618-10122001><FONT face=Arial color=#0000ff size=2>Thanks
for your comments.</FONT></SPAN></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV class=OutlookMessageHeader dir=ltr align=left><FONT face=Tahoma
size=2>-----Original Message-----<BR><B>From:</B>
owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Katherine
Malm<BR><B>Sent:</B> Monday, December 10, 2001 5:23 AM<BR><B>To:</B>
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM] PECS &
"Rubberband Sell Rule"<BR><BR></FONT></DIV>
<DIV><FONT face=Arial size=2>Hi Chris,</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>I agree with you on the vague nature of WON's
sell rule and it's the reason that I was happy to have found these additional
criteria. A stock could easily rise 70% above the 200dMA, but if the price
behaves as you would expect, you'll see mostly accumulation days and the
200dMA will rise with the price. That would be a good stock in my
book!</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>I keep 3 kinds of records related to buying
and selling. First, I have a buy and a sell checklist. All the appropriate
items have to be checked before I'll buy. When a sell rule is hit, out it
goes. (The rubberband rule, along with a couple of others are what I call
"warning" sell rules. I do not sell unconditionally on this trigger alone.)
Second, I make a notation in my trading journal that will state my general
reason for buying/selling along with other general observations about what is
going on that might have affected the decision. What I'm trying to do is keep
a record of my "mental state" when buying/selling. (The journal itself
contains more than buy/sell info.) Third, a printout of the chart on
the buy and sell date. Here I'll highlight all the appropriate technicals,
making note of industry RS and other things that don't show on the DGO chart.
The buy and sell charts get stapled together and put into a trading
journal. All of these things allow me to go back on a regular basis and find
weaknesses. It is through these kinds of reviews that I am able to enhance a
strategy, find errors or identify my hot buttons. Believe me, there's
plenty of those to contend with! </FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Katherine</FONT></DIV>
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A title=cdempsey@houston.oilfield.slb.com
href="mailto:cdempsey@houston.oilfield.slb.com">Chris Dempsey</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A title=canslim@lists.xmission.com
href="mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Sunday, December 09, 2001 11:49
PM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] PECS &
"Rubberband Sell Rule"</DIV>
<DIV><BR></DIV>
<DIV><FONT face=Arial color=#0000ff size=2><SPAN
class=737562605-10122001>Katherine,</SPAN></FONT></DIV>
<DIV><FONT face=Arial color=#0000ff size=2><SPAN
class=737562605-10122001></SPAN></FONT> </DIV>
<DIV><FONT face=Arial color=#0000ff size=2><SPAN
class=737562605-10122001>Thanks for the idea. Sell rule 34 has always
bothered me. "Some stocks can be sold when they are 70 to 100% above their
200-day. This in many instances seemed to soon. This looks like it will help
determine which stocks. Have you done any analysis of you trades to
determine the accuracy of this formula.</SPAN></FONT></DIV>
<DIV><FONT face=Arial color=#0000ff size=2><SPAN
class=737562605-10122001></SPAN></FONT> </DIV>
<DIV><FONT face=Arial color=#0000ff size=2><SPAN
class=737562605-10122001>What records do you keep when you buy and sell a
stock?</SPAN></FONT></DIV>
<DIV><FONT face=Arial color=#0000ff size=2><SPAN
class=737562605-10122001></SPAN></FONT> </DIV>
<DIV><FONT face=Arial color=#0000ff size=2><SPAN
class=737562605-10122001>Chris</SPAN></FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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