Go to Jeff Salisbury LWGate Home Page.From: "Edward W. Gjertsen II" <ed@macktracks.com>
Subject: RE: [CANSLIM] RINO and general execution of trades
Date: Tue, 22 Oct 2002 17:12:42 -0500
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Even with "Good" execution, you are still up against order flow issues.
I use SLK's Redi platform and I'm usually in or out without much
slippage. With many eyes following few stocks, you either cheat (buy
before the pivot, not recommended) or just try to be the first in the
door. Not an easy feat. This will be an issues that we will always
face.
Ed Gjertsen II
ed@macktracks.com
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Duke Miller
Sent: Tuesday, October 22, 2002 5:12 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] RINO and general execution of trades
Buck, my experience is the opposite.
I go from real time quote (RTQ) to trade execution; once the execution
is confirmed (usually within seconds), I go back to RTQ to check. It's
never more than a penny or two either way. I use HarrisDirect (formerly
CSFBdirect, formerly DLJdirect, formerly PC Financial Network). I do
pay $20 a trade, but the personal service and fast executions
are...priceless.
Duke
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Jerome Buckmelter
Sent: Tuesday, October 22, 2002 3:07 PM
To: CANSLIM-posts
Subject: [CANSLIM] RINO and general execution of trades
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 color=3Dblue face=3D"Times New =
Roman"><span
style=3D'font-size:10.0pt;color:blue'>Even with “Good” =
execution, you
are still up against order flow issues. I use SLK’s Redi =
platform
and I’m usually in or out without much slippage. With many =
eyes
following few stocks, you either cheat (buy before the pivot, not =
recommended)
or just try to be the first in the door. Not an easy feat. =
This
will be an issues that we will always face.</span></font></p>
<p class=3DMsoNormal><font size=3D2 color=3Dblue face=3D"Times New =
Roman"><span
style=3D'font-size:10.0pt;color:blue'> </span></font></p>
<div>
<p class=3DMsoNormal><font size=3D2 color=3Dblue face=3D"Times New =
Roman"><span
style=3D'font-size:10.0pt;color:blue'>Ed Gjertsen II</span></font></p>
<p class=3DMsoNormal><font size=3D2 color=3Dblue face=3D"Times New =
Roman"><span
style=3D'font-size:10.0pt;color:blue'><a =
href=3D"mailto:ed@macktracks.com">ed@macktracks.com</a></span></font></p>=
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span =
style=3D'font-size:
12.0pt'> </span></font></p>
</div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>-----Original =
Message-----<br>
<b><span style=3D'font-weight:bold'>From:</span></b>
owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] <b><span
style=3D'font-weight:bold'>On Behalf Of </span></b>Duke Miller<br>
<b><span style=3D'font-weight:bold'>Sent:</span></b> </span></font><font =
size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;font-family:Tahoma'>Tuesday,
October 22, 2002</span></font><font size=3D2 face=3DTahoma><span =
style=3D'font-size:
10.0pt;font-family:Tahoma'> </span></font><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>5:12 =
PM</span></font><font size=3D2
face=3DTahoma><span style=3D'font-size:10.0pt;font-family:Tahoma'><br>
<b><span style=3D'font-weight:bold'>To:</span></b> =
canslim@lists.xmission.com<br>
<b><span style=3D'font-weight:bold'>Subject:</span></b> RE: [CANSLIM] =
RINO and
general execution of trades</span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> </span></font></p>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3DArial><span
style=3D'font-size:12.0pt;font-family:Arial'>Buck, my experience is the
opposite. </span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> </span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3DArial><span
style=3D'font-size:12.0pt;font-family:Arial'>I go from real time quote =
(RTQ) to
trade execution; once the execution is confirmed (usually within =
seconds), I go
back to RTQ to check. It's never more than a penny or =
two
either way. I use HarrisDirect (formerly CSFBdirect, formerly =
DLJdirect,
formerly PC Financial Network). I do pay $20 a trade, but the
personal service and fast executions are...priceless.</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> </span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3DArial><span
style=3D'font-size:12.0pt;font-family:Arial'>Duke</span></font></p>
</div>
<blockquote =
style=3D'margin-top:5.0pt;margin-right:0in;margin-bottom:5.0pt'>
<p class=3DMsoNormal =
style=3D'margin-right:0in;margin-bottom:12.0pt;margin-left:
.5in'><font size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;font-family:Tahoma'>-----Original
Message-----<br>
<b><span style=3D'font-weight:bold'>From:</span></b>
owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] <b><span
style=3D'font-weight:bold'>On Behalf Of </span></b>Jerome Buckmelter<br>
<b><span style=3D'font-weight:bold'>Sent:</span></b> </span></font><font =
size=3D2 face=3DTahoma><span =
style=3D'font-size:10.0pt;font-family:Tahoma'>Tuesday,
October 22, 2002</span></font><font size=3D2 face=3DTahoma><span =
style=3D'font-size:
10.0pt;font-family:Tahoma'> </span></font><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>3:07 =
PM</span></font><font size=3D2
face=3DTahoma><span style=3D'font-size:10.0pt;font-family:Tahoma'><br>
<b><span style=3D'font-weight:bold'>To:</span></b> CANSLIM-posts<br>
<b><span style=3D'font-weight:bold'>Subject:</span></b> [CANSLIM] RINO =
and
general execution of trades</span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'>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,</span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'> </span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'> </span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'>Buck =
</span></font></p>
</blockquote>
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