[CANSLIM] Intro...

From: "jhs" <jhs@chorus.net>
Subject: [CANSLIM] Intro...
Date: Wed, 27 Mar 2002 20:10:32 -0600
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I'm another newbie, but have been lurking for sometime observing and
learning.  I am not a Forbes referral, but one from a current/long-term
member.  This has been a terrific site; it is a rare board that maintains a
sense of dignity as well as being informative.  Thanks!

I have been investing for several years, but with the assistance of a
broker.  I finally decided to pull the plug because I felt I had too little
control.  It irritated me no end that we never seemed to come to some kind
of sell rules agreement; hence I rode down more stocks than I care to admit.
I like the discipline of CANSLIM; for now I intend to follow it pretty much
to the letter until I get some more experience and feel comfortable
experimenting a bit.

One question:  CANLIM dictates a sell when the price drops 8% below purchase
cost (with some variation on the exact percentage).  Do most members write a
stop loss order at the same time as the purchase order?  Or do you simply
make a mental note and watch the market?  I ask this because I have been
told that traders have access to the sell orders and at times may actually
manipulate the prices to the point that they can dip down and pick off what
is then a comparatively cheap stock.

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<DIV><SPAN class=3D00010002-28032002><FONT face=3DArial size=3D2>I'm =
another newbie,=20
but have been lurking for sometime observing and learning.&nbsp; I am =
not a=20
Forbes referral, but one from a current/long-term member.&nbsp; This has =
been a=20
terrific site; it is a rare board that maintains a sense of dignity as =
well as=20
being informative.&nbsp; Thanks!</FONT></SPAN></DIV>
<DIV><SPAN class=3D00010002-28032002><FONT face=3DArial=20
size=3D2></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D00010002-28032002><FONT face=3DArial size=3D2>I have =
been investing=20
for several years, but with the assistance of a broker.&nbsp; I finally =
decided=20
to pull the plug because I felt I&nbsp;had too =
little&nbsp;control.&nbsp; It=20
irritated me no end that we never seemed to come to some kind of sell =
rules=20
agreement; hence I rode down more stocks than I care to admit.&nbsp; I =
like the=20
discipline of CANSLIM; for now I intend to follow it pretty much to the =
letter=20
until I get some more experience and feel comfortable experimenting a=20
bit.</FONT></SPAN></DIV>
<DIV><SPAN class=3D00010002-28032002><FONT face=3DArial=20
size=3D2></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D00010002-28032002><FONT face=3DArial size=3D2>One =
question:&nbsp;=20
CANLIM dictates a sell when the price drops 8% below purchase cost (with =
some=20
variation on the exact percentage).&nbsp; Do most members write a stop =
loss=20
order at the same time as the purchase order?&nbsp; Or do you simply =
make a=20
mental note and watch the market?&nbsp; I ask this because I have been =
told that=20
traders have access to the sell orders and at times may actually =
manipulate the=20
prices to the point that they can dip down and pick off what is then a=20
comparatively cheap stock.</FONT></SPAN></DIV></BODY></HTML>

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