Re: [CANSLIM] CSTR CVH Failed breakouts Post Analysis

From: "Chuck Dreier" <chucknsc@mindspring.com>
Subject: Re: [CANSLIM] CSTR CVH Failed breakouts Post Analysis
Date: Tue, 3 Sep 2002 10:28:27 -0400

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JC,
I was also hurt badly with CSTR.  It had gapped down 13% in the
overnight/early trades and opened down 13%+.  Maybe this was an anomaly, but
I haven't been monitoring the market after/before hours as well as during
the trading day.  It, along with several other events, have made me more gun
shy than ever.

- ----- Original Message -----
From: "John Calkins" <jcalkins@olypen.com>
To: <canslim@lists.xmission.com>
Sent: Tuesday, September 03, 2002 7:52 AM
Subject: [CANSLIM] CSTR CVH Failed breakouts Post Analysis


> 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)
>
>
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