RE: [CANSLIM] STOPs and GRMN and selling rules

From: michael_niemotka@baxter.com
Subject: RE: [CANSLIM] STOPs and GRMN and selling rules
Date: Wed, 21 May 2003 15:34:56 -0500

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Ed,

Thanks for sharing your views. I think what I need to do is print out a
couple of charts that show that stopping out with a small gain was the
right thing to do as the stock tumbled well lower, so that I can remember
that nothing is perfect. Sometimes an action like GRMN today will occur,
but the stops are there for a reason, to protect profits, and minimize
losses.

The same is true for the upside. If you decide to take some profits off
the tabel at 15 or 20%, you can't be upset that the stock goes up even
more, other than to do further analysis as to whether or not all the signs
really were there for an exit.

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

"Edward W. Gjertsen
II" To: canslim@lists.xmission.com
<ed@macktracks.com> cc:
Sent by: Subject: RE: [CANSLIM] STOPs and GRMN and selling rules
owner-canslim@lists.xm
ission.com

05/21/2003 03:17 PM
Please respond to
canslim

Our average cost in Garmin is $27.20. We bought around $24+ and then
added bringing it close to a full position, 10% of the portfolio. We
sold 1/2 the position yesterday, but still hold on to the remainder.
The biggest concept we struggled with for years is the "all or none"
scenario. We broke through this mental hurdle after several years of
studying top traders, in particular Dr. Tharp. It's better to have a
little of something, then a lot of nothing. While WON has great
concepts, the addition of Position Sizing, how much to risk, is what
sets us apart and rounds out our discipline. We tend to carry two stops
on positions that gain more than 15%. Remember, your rules should be
just that, YOUR RULES. It should be comfortable in both up markets and
down.

Ed Gjertsen II
ed@macktracks.com

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