Go to Jeff Salisbury LWGate Home Page.From: "Jerome Buckmelter" <jsjbuck@myexcel.com>
Subject: [CANSLIM] RINO and general execution of trades
Date: Tue, 22 Oct 2002 12:06:36 -0700
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Hi! Although I have been a student of canslim for two years, and have
watched this board in the past, this is my first post. First of all, I
am really impressed by some of the commentary I've read herein, and hope
that my question will not be too elementary or off the (canslim) mark.
Perhaps others have experienced a similar situation to the one that I
did, and could give me some advice. On October 17 RINO broke out. I
saw it pass the pivot of 16.25 and climb quickly. By the time I checked
the volume, re-checked the chart, and got set up on my brokerage firm's
website to make the trade, the real time quote window showed a price of
around $16.80!! A quick math check indicated that I would still be
about 3.3 % above the pivot. Still OK, so I made the trade. I
immediately confirmed the purchase price, and it was $17.16! -- 5.5%
above the pivot! I quickly clicked the real time quote button: the
price and bid/ask didn't change! They were still in the $16.80 range!
Somehow I got stuck with shares that were about 35 cents (2.2%) above
the going rate. I kept checking the real time quote for the next few
minutes, and it still remained around 16.80 or a little lower. I talked
to the brokerage firm, and they said I got caught in a momentary
"upspike"-just a tough break. Why the price surged up dramatically for
a few moments and didn't remain elevated, they could not adequately
explain. My concern is this: is this situation the result of having
this particular broker? (By the way, I had a very similar situation
with them several months ago, but shrugged it off). Could I have
avoided this if I had another broker? Would it be prudent to adjust my
sell point accordingly since there is a good chance that I will be
shaken out as things now stand? Thanks,
Buck
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<p class=3DMsoNormal><font size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;
font-family:Arial'>Hi!<span style=3D'mso-spacerun:yes'> =
</span>Although I
have been a student of <span class=3DSpellE>canslim</span> for two =
years, and
have watched this board in the past, this is my first post.<span
style=3D'mso-spacerun:yes'> </span>First of all, I am really =
impressed by
some of the commentary I’ve read herein, and hope that my question =
will
not be too elementary or off the (<span class=3DSpellE>canslim</span>) =
mark.<span
style=3D'mso-spacerun:yes'> </span>Perhaps others have experienced =
a
similar situation to the one that I did, and could give me some =
advice.<span
style=3D'mso-spacerun:yes'> </span>On October 17 RINO broke =
out.<span
style=3D'mso-spacerun:yes'> </span>I saw it pass the pivot of =
16.25 and
climb quickly.<span style=3D'mso-spacerun:yes'> </span>By the time =
I
checked the volume, re-checked the chart, and got set up on my brokerage
firm’s website to make the trade, the real time quote window =
showed a
price of around $16.80!!<span style=3D'mso-spacerun:yes'> </span>A =
quick
math check indicated that I would still be about 3.3 % above the =
pivot.<span
style=3D'mso-spacerun:yes'> </span><span class=3DGramE>Still OK, =
so I made
the trade.</span><span style=3D'mso-spacerun:yes'> </span>I =
immediately
confirmed the purchase price, and it was $17.16! -- 5.5% above the =
pivot!<span
style=3D'mso-spacerun:yes'> </span>I quickly clicked the =
real time
quote button: the price and bid/ask didn’t change!<span
style=3D'mso-spacerun:yes'> </span>They were still in the $16.80
range!<span style=3D'mso-spacerun:yes'> </span>Somehow I got stuck =
with
shares that were about 35 cents (2.2%) above the going rate.<span
style=3D'mso-spacerun:yes'> </span>I kept checking the real time =
quote for
the next few minutes, and it still remained around 16.80 or a little
lower.<span style=3D'mso-spacerun:yes'> </span>I talked to the =
brokerage
firm, and they said I got caught in a momentary “<span =
class=3DSpellE>upspike</span>”—just
a tough break.<span style=3D'mso-spacerun:yes'> </span>Why the =
price surged
up dramatically for a few moments and didn’t remain elevated, they =
could
not adequately explain.<span style=3D'mso-spacerun:yes'> </span>My =
concern
is this: is this situation the result of having this particular =
broker?<span
style=3D'mso-spacerun:yes'> </span>(By the way, I had a very =
similar situation
with them several months ago, but shrugged it off).<span
style=3D'mso-spacerun:yes'> </span>Could I have avoided this if I =
had
another broker?<span style=3D'mso-spacerun:yes'> </span>Would it =
be prudent
to adjust my sell point accordingly since there is a good chance that I =
will be
shaken out as things now stand?<span style=3D'mso-spacerun:yes'>
</span>Thanks,<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;
font-family:Arial'><o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;
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<p class=3DMsoNormal><font size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;
font-family:Arial'>Buck<span style=3D'mso-spacerun:yes'> =
</span><o:p></o:p></span></font></p>
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