Re: [CANSLIM] Selling question

From: michael_niemotka@baxter.com
Subject: Re: [CANSLIM] Selling question
Date: Thu, 27 Jun 2002 15:53:06 -0500

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Jon,

Glad to see that misery has company!   I was kinda thinking about selling
have of my position and banking the gain, and letting the other have ride.
I guess I must have abit of gambler in me, because going against WON, I
have slightly extended by loss limit to 10%, rather that tightening to 5-6%
as is sometimes recommended in bear markets.

Now for the important question: what are YOU planning on doing?  With
todays close, up 16.9%.

Mike


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


                                                                                                                            
                    "J. Lobatto"                                                                                            
                    <jlobatto@nyc.rr.com>         To:     canslim@lists.xmission.com                                        
                    Sent by:                      cc:                                                                       
                    owner-canslim@lists.xm        Subject:     Re: [CANSLIM] Selling question                               
                    ission.com                                                                                              
                                                                                                                            
                                                                                                                            
                    06/27/2002 03:38 PM                                                                                     
                    Please respond to                                                                                       
                    canslim                                                                                                 
                                                                                                                            
                                                                                                                            




Mike,

Having also bought NCEN recently, I have the same "problem". As a matter of
money management, NCEN dropped to an interday low of 26.4 after you
purchased it which meant you were willing to tolerate a >9% loss in hopes
of
making a profit. If you're now willing to cash out at a 15% profit, I'd say
as a general rule, one can't make long term money after slippage,
commissions etc with those parameters, because as a general rule, I expect
to be right about my trades less than 50% of the time. It's only by holding
out for profits greater than 25% ( and hopefully some 100% plus trades)
that
I can hope to be profitable in the long run. Having said this, it's a nasty
market and capital conservation is the name of the game. Not trying to be
wishy-washy, but how about selling half your position now and raising your
stop on the remaining half?

Jon
- ----- Original Message -----
From: <michael_niemotka@baxter.com>
To: <canslim@lists.xmission.com>
Sent: Thursday, June 27, 2002 3:35 PM
Subject: [CANSLIM] Selling question


> Okay CANSLIM experts...I bought NCEN on 6/10 at $29.25, and therefore am
> sitting on a 15% gain in a little over two weeks. Based on the M , do I
> bank this nice little profit and sit tight and wait for another
> opportunity, or do I follow WON's rule and NOT sell a stock that has
risen
> nicely in only a couple of weeks?
>
> To my eyes, the chart still looks good, IBD rates it an A+, RS is into
new
> high ground, housing still appears to be a safe haven...... Guess I'm
> looking for an objective eye to give me a gut check.
>
> Thanks
>
>
> 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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