Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] CSTR CVH Failed breakouts Post Analysis
Date: Tue, 3 Sep 2002 20:24:17 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_0038_01C25387.E0729050 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable on the contrary, Sol, when the right side of the cup is higher than the = left, the handle also tends to be higher than the left rim. While a = "high handle" can succeed, they are more prone to failure, either before = or after a b/o, than when the handle forms in the upper half of the cup = (with preference towards the upper quarter of the cup). - ----- Original Message -----=20 From: Sol Mayer=20 To: canslim@lists.xmission.com=20 Sent: Tuesday, September 03, 2002 12:27 PM Subject: Re: [CANSLIM] CSTR CVH Failed breakouts Post Analysis Ian:=20 Aren't all cw/h a situation where the right side of cup is higher than = left side which means that there is overhead resistance at the price of = the right side of cup?=20 Ian wrote:=20 John: One thing you might want to revisit is your selection of breakout = points for CSTR. As early as APril, CSTR had traded over $34 for a week, on = higher volume. It flies in the face of what a breakout point is meant to be = (a removal of significant known overhead resistance) to buy a stock just = $1.50 below where a lot of shares have changed hands in recent days. IMHO, a break through $35.50, on a large volume increase, on a third = attempt would have been much safer, from a historical perspective. Ian ----- Original Message ----- From: John Calkins=20 To:=20 Sent: Tuesday, September 03, 2002 4:52 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) > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - -To subscribe/unsubscribe, email "majordomo@xmission.com" -In the email body, write "subscribe canslim" or -"unsubscribe canslim". Do not use quotes in your email. - -------------------------------------------------------------------------= - ------- Do You Yahoo!? Yahoo! Finance - Get real-time stock quotes - ------=_NextPart_000_0038_01C25387.E0729050 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2719.2200" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial>on the contrary, Sol, when the right side of the = cup is=20 higher than the left, the handle also tends to be higher than the left = rim.=20 While a "high handle" can succeed, they are more prone to failure, = either before=20 or after a b/o, than when the handle forms in the upper half of the cup = (with=20 preference towards the upper quarter of the cup).</FONT></DIV> <DIV> </DIV> <DIV style=3D"FONT: 10pt arial">----- Original Message -----=20 <DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20 title=3Dsmaye1211@yahoo.com href=3D"mailto:smaye1211@yahoo.com">Sol = Mayer</A> </DIV> <DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20 href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>= </DIV> <DIV><B>Sent:</B> Tuesday, September 03, 2002 12:27 PM</DIV> <DIV><B>Subject:</B> Re: [CANSLIM] CSTR CVH Failed breakouts Post=20 Analysis</DIV></DIV> <DIV><BR></DIV> <P>Ian:=20 <P>Aren't all cw/h a situation where the right side of cup is higher = than left=20 side which means that there is overhead resistance at the price of the = right=20 side of cup?=20 <P> <B><I>Ian <IANSTM@SHAW.CA></I></B>wrote:=20 <BLOCKQUOTE=20 style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px = solid">John:<BR><BR>One=20 thing you might want to revisit is your selection of breakout points=20 for<BR>CSTR. As early as APril, CSTR had traded over $34 for a week, = on=20 higher<BR>volume. It flies in the face of what a breakout point is = meant to be=20 (a<BR>removal of significant known overhead resistance) to buy a stock = just=20 $1.50<BR>below where a lot of shares have changed hands in recent=20 days.<BR><BR>IMHO, a break through $35.50, on a large volume increase, = on a=20 third attempt<BR>would have been much safer, from a historical=20 perspective.<BR><BR>Ian<BR><BR><BR>----- Original Message = - -----<BR>From: John=20 Calkins <JCALKINS@OLYPEN.COM><BR>To: = <CANSLIM@LISTS.XMISSION.COM><BR>Sent:=20 Tuesday, September 03, 2002 4:52 AM<BR>Subject: [CANSLIM] CSTR CVH = Failed=20 breakouts Post Analysis<BR><BR><BR>> Ok, now that I have admitted = that I=20 didn't make a huge blunder buying CSTR<BR>> and CVH on their = breakouts. I=20 need advice on how I can improve after<BR>> loosing a large = percentage on=20 these two stocks.<BR>><BR>> I'm unable to be at a computer = during the=20 day, so I check the volume and<BR>> price with TD Waterhouse Phone = Trade=20 Direct. My first pick like many was<BR>> CSTR. On August 15th it = brokeout=20 and I purchased it at $32.50. I set my<BR>> Sell Stop at 8% below = my=20 purchase price at $29.90. My stop order was<BR>> executed at $26.61 = after=20 the gap down. I guess I consider myself lucky it<BR>> didn't = execute at $24=20 what ever because of the price action for the day.<BR>My<BR>> = second trade=20 was with CVH. It broke out on August 19th and was able to<BR>> = purchase it=20 at $33.83. The sell stop order was again placed at 8% = below<BR>at<BR>>=20 $31.12. My sell stop was executed at $28.75.<BR>><BR>> This is = the most=20 difficult time I have had with my orders yet. I have<BR>> usually = been able=20 to get much closer to my stop price. I can't afford to<BR>> loose = and=20 average of 16% or double the CANSLIM method. I have heard = that<BR>it<BR>>=20 is unwise to "Tip you hand" by having a stop order out there for=20 the<BR>market<BR>> makers to grab. But if I'm such a small fish out = there,=20 then how on earth<BR>> could my little stop order influence anyone? = Is=20 there a trading platform<BR>> that is better at setting up = unattended=20 orders. I've heard of trailing<BR>> stops etc. but aren't these = just ideas=20 or soft stops that you have to<BR>watch<BR>> the intra-day action = of the=20 market to take advantage of?<BR>><BR>> I just can't seem to get = out of=20 the shoot...I suppose along with everyone<BR>> else. I understand = that Due=20 Diligence might have helped on these two<BR>> stocks, but who would = have=20 ever thought both of these would have gapped<BR>over<BR>> my stop = orders=20 like this!<BR>><BR>> I sure would like to know how you buy and = sell when=20 you can't glue<BR>yourself<BR>> to a monitor all day long. I hope = that the=20 digital cell tower shows up<BR>> close to where I work so I can at = least=20 get price and volume alerts sent<BR>to<BR>> me. I had this before = and it=20 worked better than this stop order crapola.<BR>><BR>>=20 (JC)<BR>><BR>><BR>> -<BR>> -To subscribe/unsubscribe, = email=20 "majordomo@xmission.com"<BR>> -In the email body, write "subscribe = canslim"=20 or<BR>> -"unsubscribe canslim". Do not use quotes in your=20 email.<BR><BR><BR>-<BR>-To subscribe/unsubscribe, email=20 "majordomo@xmission.com"<BR>-In the email body, write "subscribe = canslim"=20 or<BR>-"unsubscribe canslim". Do not use quotes in your = email.</BLOCKQUOTE> <P><BR> <HR SIZE=3D1> <B>Do You Yahoo!?</B><BR><A=20 href=3D"http://rd.yahoo.com/finance/mailsig/new/*http://finance.yahoo.com= ">Yahoo!=20 Finance</A> - Get real-time stock quotes</BODY></HTML> - ------=_NextPart_000_0038_01C25387.E0729050-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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