Re: [CANSLIM] CSTR

From: Fanus <fanus13@yahoo.com>
Subject: Re: [CANSLIM] CSTR
Date: Tue, 27 Aug 2002 08:05:03 -0700 (PDT)
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If you can't watch the market all the time, your only
option is to use stop orders.  Even then a stock can
gap down below your stop. If you use mental stops, you
should act like if it was a hard stop; look if you
would have filled if you used a hard stop and then
exit it if you would have.  You should only use mental
stops not to "tip your hand".  If you do not have the
disipline to strictly follow your mental stops and to
adopt a wait and see approach each time your stop is
reached, you are really better off using hard stops.

This is all things you should decided on before you
enter a position, so that you would know what to do
the moment it happen and not wonder what you should do
when it happen. Trading without a plan is dangerous.

- - Fanus


- --- michael_niemotka@baxter.com wrote:
> 
> I know the rule...it REALLY sucks though when
> because you cannot watch the
> markets every second, and a stock drops bottom like
> this you are STUCK with
> a loss much bigger than the 8% max.  I had tried
> stop limit orders before
> but was told that many times they don't help in a
> situation like this if it
> drops very fast, and you have the added disadvantage
> of "showing" you hand
> to the MM.
> 
> Time will tell!
> 
> 
> 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
> 
> 
>                                                     
>                                                     
>                   
>                     Norman                          
>                                                     
>                   
>                     <theboyd@tisd.net>           
> To:     canslim@lists.xmission.com                  
>                      
>                     Sent by:                     
> cc:                                                 
>                      
>                     owner-canslim@lists.xm       
> Subject:     Re: [CANSLIM] CSTR                     
>                      
>                     ission.com                      
>                                                     
>                   
>                                                     
>                                                     
>                   
>                                                     
>                                                     
>                   
>                     08/27/2002 09:44 AM             
>                                                     
>                   
>                     Please respond to               
>                                                     
>                   
>                     canslim                         
>                                                     
>                   
>                                                     
>                                                     
>                   
>                                                     
>                                                     
>                   
> 
> 
> 
> 
> It has dipped below the 8% rule.  CAN SLIM dictates
> you should have already
> sold; if you're playing CAN SLIM.  If not, then good
> luck, you're gonna
> need
> here.
> 
> Norm
> ----- Original Message -----
> From: <michael_niemotka@baxter.com>
> To: <canslim@lists.xmission.com>
> Sent: Tuesday, August 27, 2002 9:24 AM
> Subject: [CANSLIM] CSTR
> 
> 
> > Does anyone know what is going on with this stock?
>  Got in late to the
> > office today and it is down 18%!!!
> >
> > I know we are supposed to sell at 7-8%, but now do
> I sell anyway, or wait
> > it out to see if the day may turn a bit?
> >
> > 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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> >
> 
> 
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> 
> 
> 
> 
> 
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