Go to Jeff Salisbury LWGate Home Page.From: "John Calkins" <jcalkins@olypen.com>
Subject: [CANSLIM] CSTR CVH Failed breakouts Post Analysis
Date: Tue, 3 Sep 2002 04:52:25 -0700
Previous Article (by Date): Re: [CANSLIM] WORLEY'S WATCHLIST WANNABES, timesaving Kent Norman
Articles sorted by: [Date]
[Author]
[Subject]
Ok, now that I have admitted that I didn't make a huge blunder buying CSTR and CVH on their breakouts. I need advice on how I can improve after loosing a large percentage on these two stocks. I'm unable to be at a computer during the day, so I check the volume and price with TD Waterhouse Phone Trade Direct. My first pick like many was CSTR. On August 15th it brokeout and I purchased it at $32.50. I set my Sell Stop at 8% below my purchase price at $29.90. My stop order was executed at $26.61 after the gap down. I guess I consider myself lucky it didn't execute at $24 what ever because of the price action for the day. My second trade was with CVH. It broke out on August 19th and was able to purchase it at $33.83. The sell stop order was again placed at 8% below at $31.12. My sell stop was executed at $28.75. This is the most difficult time I have had with my orders yet. I have usually been able to get much closer to my stop price. I can't afford to loose and average of 16% or double the CANSLIM method. I have heard that it is unwise to "Tip you hand" by having a stop order out there for the market makers to grab. But if I'm such a small fish out there, then how on earth could my little stop order influence anyone? Is there a trading platform that is better at setting up unattended orders. I've heard of trailing stops etc. but aren't these just ideas or soft stops that you have to watch the intra-day action of the market to take advantage of? I just can't seem to get out of the shoot...I suppose along with everyone else. I understand that Due Diligence might have helped on these two stocks, but who would have ever thought both of these would have gapped over my stop orders like this! I sure would like to know how you buy and sell when you can't glue yourself to a monitor all day long. I hope that the digital cell tower shows up close to where I work so I can at least get price and volume alerts sent to me. I had this before and it worked better than this stop order crapola. (JC) - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
Previous Article (by Date): Re: [CANSLIM] WORLEY'S WATCHLIST WANNABES, timesaving Kent Norman
Articles sorted by: [Date]
[Author]
[Subject]