Re: [CANSLIM] why buy breakouts - article

From: "The Lensing's" <alensing@prodigy.net>
Subject: Re: [CANSLIM] why buy breakouts - article
Date: Mon, 22 Apr 2002 18:33:39 -0500
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Erik:

I am new to this group, and have been an IBD reader for over a decade.  =
I am intrigued and humbled by the wealth of information that is shared =
among the members of this group, and I hope that I will be able to =
contribute in the future.   Just want to let you know that I subscribe =
to The Street.com and feel that I understand where Gary Smith is coming =
from.  He is a trader, not an investor, and from his point of view, and =
short-term time horizon, the breakouts are not working.  He functions =
simply as a technician, I feel, and does not rely on anything but charts =
to plot his strategies.  So from his perspective, breakouts are not =
working, but IMO he is only looking at less than half the picture if he =
chooses to ignore fundamentals.

alicia
  ----- Original Message -----=20
  From: Erik_Harris3745=20
  To: canslim@lists.xmission.com=20
  Sent: Monday, April 22, 2002 10:54 AM
  Subject: [CANSLIM] why buy breakouts - article




  Hi,
  Does anyone subscribe to The Street. I'm curious about the article =
below. I can't image what the reasoning is for the comment about not =
buying breakouts.

  Just Curious,
  Erik
  ______________________________________________________________________
  Monday April 22, 8:16 am Eastern Time
  Bantering About the Virtues of Breakouts

  By Gary B. Smith
  Special to TheStreet.com

  This past Friday, my colleague Dan Fitzpatrick wrote this in his =
column :

  "For example, it's no longer profitable to buy breakouts; they should =
be sold. And yet it's tough to unlearn habits that have worked so well =
for so many years. I talk with professional money managers every day. I =
am amazed at how many continue to buy breakouts. Memo to money managers: =
That game is over."
  =
________________________________________________________________________



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<HTML><HEAD><TITLE></TITLE>
<META http-equiv=3DContent-Type content=3D"text/html; =
charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2600.0" name=3DGENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><STRONG><FONT face=3DSystem color=3D#0000ff =
size=3D2>Erik:</FONT></STRONG></DIV>
<DIV><STRONG><FONT face=3DSystem color=3D#0000ff =
size=3D2></FONT></STRONG>&nbsp;</DIV>
<DIV><STRONG><FONT face=3DSystem color=3D#0000ff size=3D2>I am new to =
this group, and=20
have been an IBD reader for over a decade.&nbsp; I am intrigued and=20
humbled&nbsp;by the wealth of information that is shared among the =
members of=20
this group, and I hope that I will be able to contribute in the=20
future.&nbsp;&nbsp; Just want to let you know that I subscribe to The =
Street.com=20
and feel that I understand where Gary Smith is coming from.&nbsp; He is =
a=20
trader, not an investor, and from his point of view, and short-term time =

horizon, the breakouts are not working.&nbsp; He functions simply as a=20
technician, I feel, and does not rely on anything but charts to plot his =

strategies.&nbsp; So from his perspective, breakouts are not working, =
but IMO he=20
is only looking at less than half the picture if he chooses to ignore=20
fundamentals.</FONT></STRONG></DIV>
<DIV><STRONG><FONT face=3DSystem color=3D#0000ff =
size=3D2></FONT></STRONG>&nbsp;</DIV>
<DIV><STRONG><FONT face=3DSystem color=3D#0000ff =
size=3D2>alicia</FONT></STRONG></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #0000ff 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=3Derik_harris3745@yahoo.com=20
  href=3D"mailto:erik_harris3745@yahoo.com">Erik_Harris3745</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> Monday, April 22, 2002 =
10:54=20
  AM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] why buy =
breakouts -=20
  article</DIV>
  <DIV><BR></DIV><FONT face=3DArial color=3D#0000ff size=3D2></FONT><BR>
  <P><FONT size=3D2>Hi,<BR>Does anyone subscribe to The Street. I'm =
curious about=20
  the article below. I can't image what the reasoning is for the comment =
about=20
  not buying breakouts.<BR><BR>Just=20
  =
Curious,<BR>Erik<BR><EM>_________________________________________________=
_____________________<BR>Monday=20
  April 22, 8:16 am Eastern Time<BR>Bantering About the Virtues of=20
  Breakouts<BR><BR>By Gary B. Smith<BR>Special to =
TheStreet.com<BR><BR>This past=20
  Friday, my colleague Dan Fitzpatrick wrote this in his column =
:<BR><BR>"For=20
  example, it's no longer profitable to buy breakouts; they should be =
sold. And=20
  yet it's tough to unlearn habits that have worked so well for so many =
years. I=20
  talk with professional money managers every day. I am amazed at how =
many=20
  continue to buy breakouts. Memo to money managers: That game is=20
  =
over."<BR>_______________________________________________________________=
_________<BR></EM></FONT></P></BLOCKQUOTE></BODY></HTML>

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