[CANSLIM] buying after a missed breakout

From: michael_niemotka@baxter.com
Subject: [CANSLIM] buying after a missed breakout
Date: Tue, 25 Mar 2003 14:20:39 -0600

Next Article (by Author): Re: [CANSLIM] buying after a missed breakout michael_niemotka@baxter.com
Previous Article (by Author): Re: [CANSLIM] 50 ADV for NYSE and NASD david rossing
Next in Thread: RE: [CANSLIM] buying after a missed breakout "Edward W. Gjertsen II"
Articles sorted by: [Date] [Author] [Subject]

In the last few days, we have seen a number of stocks breaking out of good
bases. Only time will tell if they hold, but I was wondering what people's
thoughts were in regards to buying the stocks later, if they missed the
breakout.

We all know that WON says not to chase a stock anymore than 5% above the
pivot point, but assuming that a stock that you missed is going to be a 30%
or greater winner, are there other valid entry points?  I am not talking
about getting in if the stock pulls back to the pivot soon after the
breakout on light volume, which I know is a possible second chance, I am
more interested in if people have entry points after a stock has gained
over 5%, and does not drop any lower than that.

Is it an all or nothing game on the breakouts, ie if you don't grab one
within 5% of the pivot, then you eliminate it from your watchlist. or do
you wait for temporary consolidation after it has gained 10% or more, in
hopes that it continues to power up?

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



- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.

Go to Jeff Salisbury LWGate Home Page.