RE: [CANSLIM] watchlist / portfolio philosophy

From: michael_niemotka@baxter.com
Subject: RE: [CANSLIM] watchlist / portfolio philosophy
Date: Thu, 17 Oct 2002 11:17:53 -0500

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Ed ,

I appreciate the thoughts.  What are your views of moving out of a stock
that still sounds sound fundies, and has moved up some, but not a lot, and
is giving no sell signals.  Would you think about closing that position, at
a small gain, and move to a new breakout opportunity, or do you hold until
you see sell signs?

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


                                                                                                                            
                    "Edward W. Gjertsen                                                                                     
                    II"                           To:     canslim@lists.xmission.com                                        
                    <ed@macktracks.com>           cc:                                                                       
                    Sent by:                      Subject:     RE: [CANSLIM] watchlist / portfolio philosophy               
                    owner-canslim@lists.xm                                                                                  
                    ission.com                                                                                              
                                                                                                                            
                                                                                                                            
                    10/17/2002 11:02 AM                                                                                     
                    Please respond to                                                                                       
                    canslim                                                                                                 
                                                                                                                            
                                                                                                                            




Quick thoughts.  First off, personal opinion of course, no one should be
100% invested this early into a move.  At most 30%, the M just happened,
according to IBD on Tuesday.  Yes, you could have jumped the gun with
MME, CVH, etc.  but, you should only be buying the strongest of a group.
Add one to two positions max per week.  This is where WON and HTTMIS are
thin on detail.  Position management/Money management are key right now.
In personal conversations with WON and others who trade for him, they
are usually fully invested, margin included, near the top of move.

We utilize 10% positions, most of the time this early in the game, only
5% initial positions, then add if appropriate.

Good luck

Ed Gjertsen II
ed@macktracks.com
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of
michael_niemotka@baxter.com
Sent: Thursday, October 17, 2002 9:29 AM
To: canslim@lists.xmission.com
Subject: [CANSLIM] watchlist / portfolio philosophy

All,

At the risk of jinxing the latest breakout, I will ask this question,
since
it appears that M may finally be back, and that there are some sound
stocks
breaking out of nice bases, and sustaining the breakouts....

That having been said, I was wonder how all of you manage your
watchlist.
Say for instance you have built a list of 20 (is that too few or too
many)
stocks that you are interested in.  You have noted the pivot points, and
are waiting to see what happens.  On a day to day basis, as you read
IBD,
or get an idea from some other source on a stock, and after doing some
research, you decide that it could be added to your list, do you delete
the
worst stock on your current list to make room for the new one?

In addition to having your watch list, say you have positions in a
couple
of stocks, that you bought at the correct breakout, and to date a couple
have gone up 10-20%, and a couple are down less that 8%, or flat. All of
your capital is now in the equities.

Now, one of the stocks on your watch list breaks out on great
volume......
Do you sell off the worst performer, to buy into the breakout,  I guess
the
underlying question is how long do you hold a stock that you feel is
sound,
and has shown no sell signs, but yet is performing flat, or less
powerfully
than some of the newest breakout,

Thanks for any thoughts, let's hope this latest rally sticks!!!!

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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