RE: [CANSLIM] NOBL - to hold on?

From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] NOBL - to hold on?
Date: Wed, 17 Apr 2002 15:00:25 -0400

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Fred:

Good input.  What's your methodology for determining and taking action
on your action points?  Do I see you applying a moving 5% stop?

Duke

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Fred Richards
Sent: Wednesday, April 17, 2002 12:52 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] NOBL - to hold on?


One of the things that has enabled me to outdo most investors is using
the Action Point or Take Profit point or Stop Loss point (whatever
definition you use) as an insurance policy to either take profits or
stop losses at a preset level on a stock.

However, the key is that if the stock goes back through the level where
you sold it (or conversely covered it on the short side) re-establish
the trade if the basic reason you purchased the stock in the first place
is still valid.

Many investors sell stocks and then forget about them.

For example.

TSCO originally bot at 28 went to 39, executed take profit at 36.75.
Dropped lower and repurchased at 37 went to 44, executed take profit at
42. Dropped lower and repurchased at 42.15, now 53.  Action point is now
50.25.

In a trading market like this, you have to think like a trader.

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Bill Triffet
Sent: Wednesday, April 17, 2002 10:43 AM
To: canslim
Subject: [CANSLIM] NOBL - to hold on?


I think Tom made the remark about wishing he'd held on to this one
longer.

I'm looking at a 1 yr log chart and view the most recent valid breakout
as 2/28. This would should have been at about $12-$12.5 (?)

Given all of the failed breakouts we've waded through lately, I for one,
would have probably pulled the plug on 3/22 given the 2 big tails in 5
days. Granted the volume wasn't huge, I would still have a hard time
watching my stock come back to zero after almost a month.

Do others see it this way?

So


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