Re: [CANSLIM] Hello from TX

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] Hello from TX
Date: Wed, 23 Apr 2003 07:06:27 -0400
Next Article (by Author): Re: [CANSLIM] 50dma & chart reading "Tom Worley"
Previous Article (by Author): Re: [CANSLIM] Hello from TX "Tom Worley"
Top of Thread: Re: [CANSLIM] Hello from TX "Tom Worley"
Articles sorted by: [Date] [Author] [Subject]
Hi Tomas,

No, a b/o does not have to be from a new high, just from a proper basing
formation. Especially during a lengthy bear market such as we currently
have, will often form below the 12 month high (or even longer periods). You
do still need to be aware of past highs, and where overhead resistance is
likely to occur.

In the past I have rarely used hard stop loss orders, primarily because most
of my investments were in thinly traded small cap stocks (almost always on
NASDAQ), and Schwab would not accept the order. So I gave up even trying. I
do identify my mental stop when I purchase a stock, and will also evaluate
points of support and stop loss and fresh upward targets on stocks moving
up. Because I am buying higher priced, more liquid small caps on margin, I
have occasionally used hard stops when I felt "M" was changing direction
downward. I did that late last year, and it took me out of every stock on
margin very nicely. But I like to have control on my trades, so usually rely
on mental stops instead.

- ----- Original Message -----
From: "Tomas" <tomas986@yahoo.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, April 23, 2003 12:55 AM
Subject: Re: [CANSLIM] Hello from TX


Tom,

Thanks for the welcome.  You are right, I will be
active with this mailing list.  I have discovered the
archive.  There is such a huge wealth of knowlegde in
the archive.  I have lots and lots of questions.  But
I am sure I can find the answers to a lot of my
questions in the archive.

One question though, in regards to EPIQ, you said that
you personally would start the left side of the cup at
10/22 and thus your BO would be 4/28/2003.  So, a BO
does not have to be a new price high?

Another question, I read your comment about where to
put the stop-loss depending on the chart.  Do you put
always use a stop-loss order?  Or do you manually sell
the stock (whether you constant monitor your stock
during the day or check it (and make a decision) at
the end of the day).

Thanks,
tomas

- --- Tom Worley <stkguru@bellsouth.net> wrote:
> Welcome to the group, Tomas. And you thought tuition
> stopped when you
> graduated, didn't you!!!
>
> But don't sit back and be quiet, if you want to
> learn, the best way is to
> ask questions. Present a stock you think is a good
> CANSLIM candidate, tell
> us why you like it, how you read the chart, where
> you find the pivot point,
> then sit back and study the feedback.  The group has
> been pretty quiet
> lately, but seems to be starting to pick up. I would
> be disappointed if you
> didn't get at least a few opinions and comments to
> consider.
>
> ----- Original Message -----
> From: "Tomas" <tomas986@yahoo.com>
> To: <canslim@lists.xmission.com>
> Cc: <tomas986@yahoo.com>
> Sent: Tuesday, April 22, 2003 11:34 PM
> Subject: [CANSLIM] Hello from TX
>
>
> Hi Everyone,
>
> Just subscribed to the mailing list and want to
> introduce myself.  I first read WON's book a few
> years
> ago after I graduated.  I started investing about a
> year before the market went downhill.  I tried
> canslim
> and was only semi-successful.  I was pretty much on
> my
> own.  I did not discover this mailing list until
> recently (wished I had). I was not as discipline as
> I
> would have liked, and lost lots of money when the
> market went downhill beginning of 2000.  After that,
> I
> was pretty much inactive in the market.  I guess I
> needed to learn that lesson the hard way.  I am sure
> I
> will learn lots of more "hard" lessons as I
> progress.
> However, I am hoping this group will decrease the
> "hard" lessons I will learn.
>
> So, now I am ready to get back in the market.  Now
> that I have introduced myself, I will sit back
> quietly
> and listen.
>
> Regards,
> tomas
>
>
> __________________________________________________
> Do you Yahoo!?
> The New Yahoo! Search - Faster. Easier. Bingo
> http://search.yahoo.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.
>
>
>
> -
> -To subscribe/unsubscribe, email
> "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your
email.


__________________________________________________
Do you Yahoo!?
The New Yahoo! Search - Faster. Easier. Bingo
http://search.yahoo.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.



- -
- -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.