Re: [CANSLIM] SYMC

From: michael_niemotka@baxter.com
Subject: Re: [CANSLIM] SYMC
Date: Mon, 3 Mar 2003 11:03:15 -0600
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Jon

I appreciate the response, and I do agree with you.  I guess I tend to be
too aggressive, and part of my CANSLIM learning is to be more disciplined.
I think SYMC is a good stock, but maybe I did not buy at the right time,
but when you get a 15% drop in one day because of a conference call, it
seems like NO system would protect against that, except for hard stop
orders being placed.  Maybe that is what I will take away from this, after
entering a position, immediately put in the 8% stop loss order, just in
case.

Mike




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


                                                                                                                            
                    "Jonathan Lobatto"                                                                                      
                    <jlobatto@nyc.rr.com>         To:     canslim@lists.xmission.com                                        
                    Sent by:                      cc:                                                                       
                    owner-canslim@lists.xm        Subject:     Re: [CANSLIM] SYMC                                           
                    ission.com                                                                                              
                                                                                                                            
                                                                                                                            
                    03/03/2003 10:30 AM                                                                                     
                    Please respond to                                                                                       
                    canslim                                                                                                 
                                                                                                                            
                                                                                                                            




Mike,

I know this isn't particularly what you want to hear, but "M" is just plain
lousy and the overwhelming percentage of the few stocks that manage a
breakout, proceed to breakdown. Of course there are a few stocks that do
manage to make consistent highs and it's tempting when seeing those to
assume it's just a question of doing better homework or tinkering with
CANSLIM rules a bit to find the next one, but the odds are overwhelmingly
against it in this market environment. There are some foreign stocks (e.g.
China & Argentina) that are quite strong and I raised the issue of trying
to
apply CANSLIM to them a couple of weeks ago, but it was not greeted with
much enthusiasm which I fully understand.

Jon
- ----- Original Message -----
From: <michael_niemotka@baxter.com>
To: <canslim@lists.xmission.com>
Sent: Monday, March 03, 2003 10:29 AM
Subject: [CANSLIM] SYMC


> Sometime I really hate the stockmarket!   I was in on SYMC, and was on a
5%
> profit, when suddenly I noticed Friday that it started to tank, big time.
I
> scrambled to find out why, and it turns out that the CC was not viewed
> well. I waited it out, hoping that it would get no worst than a 10% loss,
> but when it hit that point, and looked like it was going to keep moving
> down, I bailed out.  Of course, it did go a bit lower, then moved up a
bit,
> but ended up down large for the day.  Of course, this morning, at open,
it
> gapped up 4%.
>
> Is there anything within CANSLIM that would keep me out of a situation
like
> this? Or is this a case where you sell out of a position because of the
> sell rules, but then get back in later?
>
> Thanks
>
> Mike
>
> 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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