Re: [CANSLIM] Watchlist size and selling stocks

From: michael_niemotka@baxter.com
Subject: Re: [CANSLIM] Watchlist size and selling stocks
Date: Tue, 28 May 2002 10:50:52 -0500

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Katherine,

Good point. It is one of those cases that I am guess all us new investors
go thru, especially after reading WON's books and wanting to score that
1005+ gainer....

We want to have our breakouts move up rapidly in only a few weeks, and when
they don't , we get impatient. I know for myself, this is true when I watch
over stocks move up nicely, and I wonder if maybe I should jump out of my
stock and into something else.

Thanks for the advice..

So what about your watchlist size?

Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com

"Katherine Malm"
<kmalm@earthlink.net> To: canslim@lists.xmission.com
Sent by: cc:
owner-canslim@lists.xm Subject: Re: [CANSLIM] Watchlist size and selling stocks
ission.com

05/28/2002 10:34 AM
Please respond to
canslim

Hi Mike,

About 40% of the time, a stock will pullback to the pivot before moving on.
The question is whether the pullback is benign (low volume and/or choppy
market backdrop) or worrisome (high volume and/or >=7-8% below the pivot).
Second point, is knowing when to hold something vs move on to something
else. If after about 8 weeks the holding were significantly lagging the
balance of your portfolio and/or the market, then it would seem prudent to
move on. But, it makes sense to give a stock an opportunity to prove itself
before giving up on it. If you think about it, this kind of "giving up" is
the very "stocks in weak hands" behavior that creates the pullback. If the
stock has oomph, institutions will use the opportunity to load up
additional shares, right from your happy-to-unload-it hands.

Katherine
----- Original Message -----
From: michael_niemotka@baxter.com
To: canslim@lists.xmission.com
Sent: Tuesday, May 28, 2002 9:14 AM
Subject: [CANSLIM] Watchlist size and selling stocks

Hi all,

Here is a couple of questions:

1. How large of a watch list do people typically track?
2. How long do you hold onto a stock that you bought on an apparent
breakout, that does not seem to be following thru? I ask, because
recently
I got into PEET, and it seems to have stalled. and I am wondering if I
should get out now with my 3% loss and find a better home for the capital,
rather than waiting until I hit my 7% stop loss.

Any thoughts?

Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com

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