Re: [CANSLIM] cut your loses

From: Ian <ianstm@shaw.ca>
Subject: Re: [CANSLIM] cut your loses
Date: Fri, 18 Jan 2002 13:47:47 -0800
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I agree with your premise. I like to think of it this way: Assume I made a mistake as soon as I enter a position, and make the stock action prove me wrong - I tend to leave it on a much shorter rope that way.

I am not sure I agree with your market assessment. I've got tons of green today in the face of some pretty ugly index action. CEDC, QMDC, SGDE, RAC closed at new highs for me today. BRLI was pushing on the door of a new high. ELTE, CTCQ, HELE, RMCI and others all closed green. (NMHC, XMM had pullbacks, but the volume was low).  I even joined the party for a non-CANSLIM news/momo trade that was extremely strong today - ALOG. 

It looks more to me that rather than being in the early stages of another broad-based bear, we are in a stealth bull that keeps throwing back yesteryears leaders, saying "I don't want those, get me some new leaders!".  New highs outnumbered new lows 3 to 1 today: http://quote.yahoo.com/m0?u

For CANSLIMers with a laser focus on revenue and earnings growth, I think the coming months should be fabulous (if we find any stocks with growth that is :), as there appears to be both the liquidity and desire to run new stocks up.

All JMHO.

Ian


  ----- Original Message ----- 
  From: david frank 
  To: canslim@lists.xmission.com 
  Sent: Wednesday, January 16, 2002 11:51 AM
  Subject: [CANSLIM] cut your loses


  use to be a old saying in the 1970s when i traded commodities-to let your profits run and cut your loses short. when i married my wife in 1980-i told her i loved small loses-when i got out of losing positions. she thought i was crazy. but now many years later we have everything we need and she understands. even the great one-WON-said recently in Dallas, Tx, that he dislikes all stocks-that they have to prove themselves. you can't show many stocks that have proved themselves in this market. david

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<DIV><FONT size=2>I agree with your premise. I like to think of it this way: 
Assume I made a mistake as soon as I enter a position, and make the stock action 
prove me wrong - I tend to leave it on a much shorter rope that 
way.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>I am not sure I agree with your market assessment. I've got 
tons of green today in the face of some pretty ugly index action. CEDC, QMDC, 
SGDE, RAC closed at new highs for me today. BRLI was pushing on the door of a 
new high. ELTE, CTCQ, HELE, RMCI and others all closed green. (NMHC, XMM had 
pullbacks, but the volume was low).  I even joined the party for a non-CANSLIM 
news/momo trade that was extremely strong today - ALOG. </FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>It looks more to me that rather than being in the early stages 
of another&nbsp;broad-based bear, we are in a stealth bull that keeps throwing 
back yesteryears leaders, saying "I don't want those, get me some new 
leaders!".&nbsp; New highs outnumbered new lows 3 to 1 today: <A 
href="http://quote.yahoo.com/m0?u">http://quote.yahoo.com/m0?u</A></FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>For CANSLIMers with a laser focus on revenue and earnings 
growth, I think the coming months should be fabulous (if we find any stocks with 
growth that is :), as there appears to be both the liquidity and desire to run 
new stocks up.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>All JMHO.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>Ian</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> 
  <A href="mailto:camelot.homes@charter.net" 
  title=camelot.homes@charter.net>david frank</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A 
  href="mailto:canslim@lists.xmission.com" 
  title=canslim@lists.xmission.com>canslim@lists.xmission.com</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Wednesday, January 16, 2002 11:51 
  AM</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> [CANSLIM] cut your loses</DIV>
  <DIV><BR></DIV>
  <DIV><FONT face=Arial size=2>use to be a old saying in the&nbsp;1970s when i 
  traded commodities-to let your profits run and cut your loses short. when i 
  married my wife in 1980-i told her i loved small loses-when i got out of 
  losing positions. she thought i was crazy. but now many years later we have 
  everything we need and she understands. even the great one-WON-said recently 
  in Dallas, Tx, that he dislikes all stocks-that they have to prove themselves. 
  you can't show many stocks that have proved themselves in this market. 
  david</FONT></DIV></BLOCKQUOTE></BODY></HTML>

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