RE: [CANSLIM] STOPs

From: michael_niemotka@baxter.com
Subject: RE: [CANSLIM] STOPs
Date: Wed, 21 May 2003 15:16:50 -0500
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But these stops do not automatically change as the stock price changes,=
 and
even if they did, I would only want the stop to move up as the stock mo=
ved
up in price, but I would never want to lower my original stop price.


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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Chuck - Ameritrade offers GTC or Day trailing stops.
     -----Original Message-----
     From: owner-canslim@lists.xmission.com
     [mailto:owner-canslim@lists.xmission.com] On Behalf Of Chuck Dreie=
r
     Sent: Wednesday, May 21, 2003 11:49 AM
     To: canslim@lists.xmission.com
     Subject: Re: [CANSLIM] STOPs

     Thanks everyone!  I don't use a deep discount broker (I use Schwab=
)
     and they don't have trailing stops as an option.  'Wish they did..=
...
     Chuck
      ----- Original Message -----
      From: S=E9bastien Derks
      To: canslim@lists.xmission.com
      Sent: Wednesday, May 21, 2003 2:13 PM
      Subject: RE: [CANSLIM] STOPs

      Chuck,


      A trailing stop works like this:

      If you put a stop at $9.50 (5% below $10.00) when having it stock=

      bought at $10.00 then if the stock goes up to $11 then the stop w=
ill
      change to $10.45 (5% below $11). It basically stays the same
      percentage under the new high reached. In case the stock drops th=
en
      to $10.45 the stop order will be executed because it only moves u=
p
      when a new high is reached from the point that you bought it for.=



      S=E9bastien


           -----Original Message-----
           From: owner-canslim@lists.xmission.com
           [mailto:owner-canslim@lists.xmission.com] On Behalf Of Chuck=

           Dreier
           Sent: woensdag 21 mei 2003 20:05
           To: canslim@lists.xmission.com
           Subject: Re: [CANSLIM] STOPs

           Please explain "trailing stop".  How is that different than =
the
           stop loss that I'm familiar with?  Thanks....
           Chuck

           ----- Original Message -----
           From: jeffwdc
           To: canslim@lists.xmission.com
           Sent: Wednesday, May 21, 2003 1:24 PM
           Subject: Re: [CANSLIM] STOPs

           Rolf,

           I asked a similar question a couple of months ago.
           Tom Worely posted a reply, but I regret I can't find
           his actual message -however I did print a hard copy.
           On 3/20/03 Tom wrote:
           ...the normal procedure I use is to leave the stop
           loss unchanged (from the 8% stop placed after
           purchase) until I am up at least 15%.  At that point,
           I raise my limit to my original entry point (or
           aveerage price if multiple purchases).  After that, I
           try to us 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.

           Also found this message from Tom written on 4/21/03:

           "I think any stop loss price should be selected after
           studying the chart, and considering your entry point.
           When I use hard stops, I like to put them just under
           where I see support, figuring if it goes thru short
           term support then it could go down a lot further.

           When I really don't want to be stopped out, and
           especially when I already have a nice profit, I tend
           to use looser stops."

           Jeff Gasta
           Note: I am now using a new e-mail address.

           --- Rolf Hertenstein <rolfh@mindspring.com> wrote:
           > Just curious how folks manage their mental or hard*
           > STOPs on a broken-out stock that is behaving well
           > (gaining steadily over a few months with a few
           > 10-15% corrections).  I'm especially curious about
           > techniques people might use in this market.
           >
           > A 'standard' technique uses a trailing STOP at xx%
           > below the currwnt price.  Another technique I have
           > read about sets STOPs in relation to the 50 or 200
           > DMA, with the hope that allowing the stock
           > relatively wide swings ultimately leads to big
           > gains, as long as the DMA is still rising.
           >
           > Any thoughts greatly appreciated.
           >
           >  Rolf
           >


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