Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] Thank You Katherine and Ed - OVTI
Date: Thu, 20 Mar 2003 22:05:15 -0500
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Jeffrey, the normal procedure I use is to leave the stop loss unchanged =
until I am up at least 15%. At that point, I raise my limit to my =
original entry point (or average price if multiple purchases). After =
that, I try to use a trailing stop 15% below the prior day (sometimes =
the closing price, sometimes the intraday high, depends on the chart, =
stock, fundies, how badly I want to take profits, etc.)
Of course, once raised, the stop loss should NEVER be lowered.
- ----- Original Message -----=20
From: Gasta, Jeff=20
To: canslim@lists.xmission.com=20
Sent: Thursday, March 20, 2003 4:49 PM
Subject: [CANSLIM] Thank You Katherine and Ed - OVTI
Many thanks to Katherine and Ed for guidance on OVTI. It is my first =
CANSLIM purchase and I'm up about 16% in one week.
Bought a small position of OVTI on 13 March at $19.95. Thanks to advice =
from this board, I realized I had to have a sell rule, and immediately =
placed a Stop Sell order at $18.40 (8% below my purchase price). =
Since then I changed the Stop Sell order to $20. The past few days the =
stock has been trading within a range from about 22.50 to 23.50. I'm =
sure I'm being too anxious about this, but it is temping to raise my =
Stop Sell price higher (perhaps to $22). I realize that by raising the =
sell order I risk selling the stock too soon just because of normal =
price swings. Advice on how I should think about this topic are =
appreciated.
Just an FYI related to the brokerage sell rules discussion. My account =
is with ScottTrade. Last week I sold some stock, and then used cash =
from that sale to purchase OVTI about 3 minutes later, but the dollar =
amounts were low - less than $1,000.
Thank you every one for your excellent advice.
Jeffrey Gasta
Telecommunications Engineering
Marriott International
Voice: 301.380.6204
Fax: 301.380.8649
jeff.gasta@marriott.com
This communication contains information from Marriott International, =
Inc. that may be confidential. Except for personal use by the intended =
recipient, or as expressly authorized by the sender, any person who =
receives this information is prohibited from disclosing, copying, =
distributing, and/or using it. If you have received this communication =
in error, please immediately delete it and all copies, and promptly =
notify the sender. Nothing in this communication is intended to operate =
as an electronic signature under applicable law.
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<DIV><FONT face=3DArial>Jeffrey, the normal procedure I use is to leave =
the stop=20
loss unchanged until I am up at least 15%. At that point, I raise my =
limit to my=20
original entry point (or average price if multiple purchases). After =
that, I try=20
to use a trailing stop 15% below the prior day (sometimes the closing =
price,=20
sometimes the intraday high, depends on the chart, stock, fundies, how =
badly I=20
want to take profits, etc.)</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Of course, once raised, the stop loss should =
NEVER be=20
lowered.</FONT></DIV>
<DIV> </DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3DJeff.Gasta@marriott.com =
href=3D"mailto:Jeff.Gasta@marriott.com">Gasta,=20
Jeff</A> </DIV>
<DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV><B>Sent:</B> Thursday, March 20, 2003 4:49 PM</DIV>
<DIV><B>Subject:</B> [CANSLIM] Thank You Katherine and Ed - =
OVTI</DIV></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">Many thanks to Katherine =
and Ed for=20
guidance on OVTI. It is my first CANSLIM purchase and I=92m up =
about 16% in=20
one week.</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"></SPAN></FONT> </P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Bought a small position of =
OVTI on=20
13 March at $19.95. Thanks to advice from this board, I realized I =
had to=20
have a sell rule, and immediately placed a Stop Sell order at $18.40 (8% =
below=20
my purchase price). Since then I changed the Stop Sell =
order=20
to $20. The past few days the stock has been trading within a =
range from=20
about 22.50 to 23.50. I=92m sure I=92m being too anxious about =
this, but it is=20
temping to raise my Stop Sell price higher (perhaps to $22). I =
realize=20
that by raising the sell order I risk selling the stock too soon just =
because of=20
normal price swings. Advice on how I should think about this topic =
are=20
appreciated.</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"></SPAN></FONT> </P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Just an FYI related to the =
brokerage=20
sell rules discussion. My account is with ScottTrade. Last =
week I=20
sold some stock, and then used cash from that sale to purchase OVTI =
about 3=20
minutes later, but the dollar amounts were low =96 less than=20
$1,000.</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"></SPAN></FONT> </P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Thank you every one for =
your=20
excellent advice.</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"></SPAN></FONT> </P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: Garamond">Jeffrey =
Gasta</SPAN></FONT></P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: Garamond">Telecommunications=20
</SPAN></FONT><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: =
Garamond">Engineering</SPAN></FONT></P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: Garamond">Marriott=20
International</SPAN></FONT></P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: Garamond">Voice: =20
301.380.6204</SPAN></FONT></P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: Garamond">Fax: =20
301.380.8649</SPAN></FONT></P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: =
Garamond">jeff.gasta@marriott.com</SPAN></FONT></P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: Garamond"></SPAN></FONT> </P>
<P class=3DMsoAutoSig><FONT face=3DGaramond size=3D1><SPAN=20
style=3D"FONT-SIZE: 8pt; FONT-FAMILY: Garamond">This communication =
contains=20
information from Marriott International, Inc. that may be confidential. =
Except=20
for personal use by the intended recipient, or as expressly authorized =
by the=20
sender, any person who receives this information is prohibited from =
disclosing,=20
copying, distributing, and/or using it. If you have received this =
communication=20
in error, please immediately delete it and all copies, and promptly =
notify the=20
sender. Nothing in this communication is intended to operate as an =
electronic=20
signature under applicable law.</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV></BODY></HTML>
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Next Article (by Author): Re: [CANSLIM] selling laggards "Tom Worley"
Previous Article (by Author): Re: [CANSLIM] selling laggards "NANCY POLCARO"
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