Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] cut your loses
Date: Fri, 18 Jan 2002 15:34:21 -0600
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Thanks for the kind words, David.
I figure honesty is the only path to excellence--no sense in lying about =
what I did or didn't do. Focus is a valuable lesson for me and I will =
always remember 2002 as the MCAF year. It's rare that I get to learn a =
new lesson with profits in my pocket, so all is not lost.
You know, PECS and KKD are an interesting contrast. While KKD has a good =
"story" it just had an iffy chart. All things being equal, I'll always =
go for the more perfect chart, and I think on that account that PECS =
won. It certainly wasn't "perfect" as there was one *big* shakeout day =
in the handle and that made it questionable in my mind. But I have since =
reread my CANSLIM notes and found out that this is quite normal and =
actually preferred. I think the lesson there, however, is that it may =
not be prudent to enter *while* the handle is forming, as one big =
shakeout day like that would hit a 7% stop intraday and kick the person =
out of the trade.
I just loved your notion of pigs not surviving...good thought to =
remember at all times.
Katherine
----- Original Message -----=20
From: david frank=20
To: canslim@lists.xmission.com=20
Sent: Friday, January 18, 2002 3:22 PM
Subject: Re: [CANSLIM] cut your loses
katherine, my posting is really outdated-i sent it on wednesday =
morning. thank you for your post analysis on PECS, MCAF and DYII-truly =
the confessions of a canslimer-honest,interesting and important. i got =
in KKD the morning of 11-14-02 instead of PECS although i wanted in PECS =
too, but they broke out at about the same time. of course, PECS was the =
far better stock-although i took a quick profit in KKD. yes, this is a =
very choppy market and the pigs will not survive. david
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Friday, January 18, 2002 1:12 PM
Subject: Re: [CANSLIM] cut your loses
Good point you're making, David. When the market is still iffy and =
transitioning bear to bull as it is, good stocks will get a run going, =
but we have to pay sharp attention to sell rules in order to capture =
profits on the move before the stocks turn tail and start over. Sticking =
with high quality stocks breaking out of well formed bases will also =
prevent us from even getting *into* stocks that could trigger a =
potential stop loss, however small. I think the remainder of the quarter =
will be choppy at best, so finding stocks "proving themselves" *before* =
the breakout and continuing to prove themselves on the way up is going =
to be quite a challenge.
Katherine
----- Original Message -----=20
From: david frank=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, January 16, 2002 1:51 PM
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>Thanks for the kind words, David.</DIV>
<DIV> </DIV>
<DIV>I figure honesty is the only path to excellence--no sense in lying =
about=20
what I did or didn't do. Focus is a valuable lesson for me and I =
will=20
always remember 2002 as the MCAF year. It's rare that I get to learn a =
new=20
lesson with profits in my pocket, so all is not lost.</DIV>
<DIV> </DIV>
<DIV>You know, PECS and KKD are an interesting contrast. While KKD has a =
good=20
"story" it just had an iffy chart. All things being equal, I'll always =
go for=20
the more perfect chart, and I think on that account that PECS won. It =
certainly=20
wasn't "perfect" as there was one *big* shakeout day in the handle and =
that made=20
it questionable in my mind. But I have since reread my CANSLIM notes and =
found=20
out that this is quite normal and actually preferred. I think the lesson =
there,=20
however, is that it may not be prudent to enter *while* the handle is =
forming,=20
as one big shakeout day like that would hit a 7% stop intraday and kick =
the=20
person out of the trade.</DIV>
<DIV> </DIV>
<DIV>I just loved your notion of pigs not surviving...good thought to =
remember=20
at all times.</DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<DIV> </DIV>
<DIV> </DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dcamelot.homes@charter.net=20
href=3D"mailto:camelot.homes@charter.net">david frank</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, January 18, 2002 =
3:22=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] cut your =
loses</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>katherine, my posting is really =
outdated-i sent=20
it on wednesday morning. thank you for your post analysis on PECS, =
MCAF and=20
DYII-truly the confessions of a canslimer-honest,interesting and =
important. i=20
got in KKD the morning of 11-14-02 instead of PECS although i wanted =
in PECS=20
too, but they broke out at about the same time. of course, PECS was =
the far=20
better stock-although i took a quick profit in KKD. yes, this is =
a very=20
choppy market and the pigs will not survive. david</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, January 18, =
2002 1:12=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] cut =
your=20
loses</DIV>
<DIV><BR></DIV>
<DIV>Good point you're making, David. When the market is still iffy =
and=20
transitioning bear to bull as it is, good stocks will get a run =
going, but=20
we have to pay sharp attention to sell rules in order to capture =
profits on=20
the move before the stocks turn tail and start over. Sticking with =
high=20
quality stocks breaking out of well formed bases will also prevent =
us from=20
even getting *into* stocks that could trigger a potential =
stop=20
loss, however small. I think the remainder of the quarter will be =
choppy at=20
best, so finding stocks "proving themselves" *before* the breakout =
and=20
continuing to prove themselves on the way up is going to be quite a=20
challenge.</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- =
</DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dcamelot.homes@charter.net=20
href=3D"mailto:camelot.homes@charter.net">david frank</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, January =
16, 2002=20
1:51 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] cut your =
loses</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>use to be a old saying in =
the 1970s when=20
i traded commodities-to let your profits run and cut your loses =
short.=20
when i married my wife in 1980-i told her i loved small loses-when =
i got=20
out of losing positions. she thought i was crazy. but now many =
years later=20
we have everything we need and she understands. even the great=20
one-WON-said recently in Dallas, Tx, that he dislikes all =
stocks-that they=20
have to prove themselves. you can't show many stocks that have =
proved=20
themselves in this market.=20
david</FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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Next Article (by Subject): Re: [CANSLIM] DYII Revisited--post analysis Ian
Previous Article (by Subject): Re: [CANSLIM] cut your loses Ian
Top of Thread: Re: [CANSLIM] cut your loses "david frank"
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