Go to Jeff Salisbury LWGate Home Page.From: "Alicia Lensing" <alensing@prodigy.net>
Subject: Re: [CANSLIM] RINO and general execution of trades
Date: Tue, 22 Oct 2002 18:55:41 -0500
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Jerome:
Sorry to hear that you got *burned* in your trade, but I wonder how you =
*made the trade.* Did you place a limit order or a market order? =
Please realize that if you place a market order and the stock which you =
are trading has a volatile intraday pattern, or is thinly traded or is =
in the midst of a *fast market* in the stock then you will most likely =
get filled at a surprising price. And it is usually not a favorable =
surprise. If you place a limit order, your trade may not get executed, =
but then again neither will your bank account!
If you would like a bit more info on the subject, please contact me =
offline. I am a daytrader, as well as a CANSLIM-er, and am aware of =
many of the ways that this game is played.
I would not blame your broker.
Alicia
From: Jerome Buckmelter=20
To: CANSLIM-posts=20
Sent: Tuesday, October 22, 2002 2:06 PM
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,
=20
Buck =20
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<DIV><STRONG><FONT face=3D"Comic Sans MS" =
size=3D2>Jerome:</FONT></STRONG></DIV>
<DIV><STRONG><FONT face=3D"Comic Sans MS" size=3D2>Sorry to hear that =
you got=20
*burned* in your trade, but I wonder how you *made the trade.* Did =
you=20
place a limit order or a market order? Please realize that if you =
place a=20
market order and the stock which you are trading has a volatile intraday =
pattern, or is thinly traded or is in the midst of a *fast market* in =
the stock=20
then you will most likely get filled at a surprising price. And it =
is=20
usually not a favorable surprise. If you place a limit order, your =
trade=20
may not get executed, but then again neither will your bank=20
account!</FONT></STRONG></DIV>
<DIV><STRONG><FONT face=3D"Comic Sans MS" size=3D2> If you would =
like a bit=20
more info on the subject, please contact me offline. I am a =
daytrader, as=20
well as a CANSLIM-er, and am aware of many of the ways =
that this=20
game is played.</FONT></STRONG></DIV>
<DIV><STRONG><FONT face=3D"Comic Sans MS" size=3D2>I would not blame =
your=20
broker.</FONT></STRONG></DIV>
<DIV><STRONG><FONT face=3D"Comic Sans MS" =
size=3D2></FONT></STRONG> </DIV>
<DIV><STRONG><FONT face=3D"Comic Sans MS" =
size=3D2>Alicia</FONT></STRONG></DIV>
<DIV> </DIV>
<DIV><B>From:</B> <A title=3Djsjbuck@myexcel.com=20
href=3D"mailto:jsjbuck@myexcel.com">Jerome Buckmelter</A> </DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">CANSLIM-posts</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, October 22, 2002 =
2:06=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] RINO and =
general=20
execution of trades</DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Hi!<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>Although I have been a =
student of=20
<SPAN class=3DSpellE>canslim</SPAN> for two years, and have watched =
this board=20
in the past, this is my first post.<SPAN style=3D"mso-spacerun: =
yes"> =20
</SPAN>First of all, I am really impressed by some of the commentary =
I=92ve read=20
herein, and hope that my question will not be too elementary or off =
the (<SPAN=20
class=3DSpellE>canslim</SPAN>) mark.<SPAN style=3D"mso-spacerun: =
yes"> =20
</SPAN>Perhaps others have experienced a similar situation to the one =
that I=20
did, and could give me some advice.<SPAN style=3D"mso-spacerun: =
yes"> =20
</SPAN>On October 17 RINO broke out.<SPAN style=3D"mso-spacerun: =
yes"> =20
</SPAN>I saw it pass the pivot of 16.25 and climb quickly.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>By the time I checked the =
volume,=20
re-checked the chart, and got set up on my brokerage firm=92s website =
to make=20
the trade, the real time quote window showed a price of around =
$16.80!!<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>A quick math check indicated =
that I=20
would still be about 3.3 % above the pivot.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN><SPAN class=3DGramE>Still =
OK, so I made=20
the trade.</SPAN><SPAN style=3D"mso-spacerun: yes"> </SPAN>I =
immediately=20
confirmed the purchase price, and it was $17.16! -- 5.5% above the =
pivot!<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>I quickly clicked the =
real time=20
quote button: the price and bid/ask didn=92t change!<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>They were still in the =
$16.80=20
range!<SPAN style=3D"mso-spacerun: yes"> </SPAN>Somehow I got =
stuck with=20
shares that were about 35 cents (2.2%) above the going rate.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>I kept checking the real =
time quote=20
for the next few minutes, and it still remained around 16.80 or a =
little=20
lower.<SPAN style=3D"mso-spacerun: yes"> </SPAN>I talked to the =
brokerage=20
firm, and they said I got caught in a momentary =93<SPAN=20
class=3DSpellE>upspike</SPAN>=94=97just a tough break.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>Why the price surged up =
dramatically=20
for a few moments and didn=92t remain elevated, they could not =
adequately=20
explain.<SPAN style=3D"mso-spacerun: yes"> </SPAN>My concern is =
this: is=20
this situation the result of having this particular broker?<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>(By the way, I had a very =
similar=20
situation with them several months ago, but shrugged it off).<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>Could I have avoided this if =
I had=20
another broker?<SPAN style=3D"mso-spacerun: yes"> </SPAN>Would =
it be=20
prudent to adjust my sell point accordingly since there is a good =
chance that=20
I will be shaken out as things now stand?<SPAN=20
style=3D"mso-spacerun: yes"> =
</SPAN>Thanks,<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Buck<SPAN=20
style=3D"mso-spacerun: yes"> =20
</SPAN><o:p></o:p></SPAN></FONT></P></DIV></BLOCKQUOTE></BODY></HTML>
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