Go to Jeff Salisbury LWGate Home Page.From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] RINO and general execution of trades
Date: Tue, 22 Oct 2002 18:11:37 -0400
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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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<DIV><SPAN class=3D339295221-22102002><FONT face=3DArial>Buck, my =
experience is the=20
opposite. </FONT></SPAN></DIV>
<DIV><SPAN class=3D339295221-22102002><FONT =
face=3DArial></FONT></SPAN> </DIV>
<DIV><SPAN class=3D339295221-22102002><FONT face=3DArial>I go from real =
time quote=20
(RTQ) to trade execution; once the execution is confirmed (usually =
within=20
seconds), I go back to RTQ to check. It's never more =
than a=20
penny or two either way. I use HarrisDirect (formerly CSFBdirect, =
formerly=20
DLJdirect, formerly PC Financial Network). I do pay $20 a =
trade, but=20
the personal service and fast executions =
are...priceless.</FONT></SPAN></DIV>
<DIV><SPAN class=3D339295221-22102002><FONT =
face=3DArial></FONT></SPAN> </DIV>
<DIV><SPAN class=3D339295221-22102002><FONT =
face=3DArial>Duke</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV></DIV>
<DIV class=3DOutlookMessageHeader lang=3Den-us dir=3Dltr =
align=3Dleft><FONT=20
face=3DTahoma size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]=20
<B>On Behalf Of </B>Jerome Buckmelter<BR><B>Sent:</B> Tuesday, October =
22,=20
2002 3:07 PM<BR><B>To:</B> CANSLIM-posts<BR><B>Subject:</B> [CANSLIM] =
RINO and=20
general execution of trades<BR><BR></FONT></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’ve 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’s =
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’t 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 “<SPAN=20
class=3DSpellE>upspike</SPAN>”—just a tough break.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>Why the price surged up =
dramatically=20
for a few moments and didn’t 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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