Go to Jeff Salisbury LWGate Home Page.From: "Chuck Dreier" <chucknsc@mindspring.com>
Subject: Re: [CANSLIM] STOPs and GRMN and selling rules
Date: Wed, 21 May 2003 16:44:44 -0400
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I was in Garmin at approx $25 and watched it rise to $48 (a nearly 100% =
gain!!). Then as it began to fall, I put a $44 stop on it - 8%. Well, =
I stopped out the other day and watched it continue to decline thinking =
I'd done the right thing. I was awaiting the 50 day line at about $39 =
to see how to proceed, and then low and behold - it bounces back this =
afternoon on major volume. It's up to about $44.90 in after hours =
trading. =20
Boy, I'm at a loss about what to do now. I honestly believe GRMN is a =
great company. I jumped off the train, and want back on. But... boy I =
don't want to get whipsawed. The chart isn't helping me make a =
decision. Anyone else been through something like this before?
Thanks...
Chuck=20
----- Original Message -----=20
From: michael_niemotka@baxter.com=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, May 21, 2003 3:42 PM
Subject: RE: [CANSLIM] STOPs and GRMN and selling rules
While we are still on the subject of trailing stops, it can sometimes
backfire.
At one point, I was up over 20% in GRMN, after only a three week time =
from
purchase.
I chose to put in a 15% trailing stop, ie at worst case I would make =
a 5%
profit if the stop started to fall. I know some would sell at least a
portion of the position at a 20% gain, but because it came so quickly, =
I
remembered one of WON's rules that said that you should hold a stock =
like
that for at least 8 weeks. He also said that you should NEVER let a =
stock
that is up 15-20% turn into a loss, so that is why I used a 15% =
trailer.
And then today, I get the e-mail notice that my stop loss has been
activated, and then I watch GRMN go on to have a 10% swing during the =
day,
which would leave me at about a 15% gain again.
Overall, I still think GRMN is a great company , and am mad that I got
booted out with the stop loss, but I think this is something that =
everyone
has to deal with if you plan on being un-emotional, and using rules.
So what would everyone else have done? Should I have had a break even =
stop
loss instead, since I was only up 20% but it happened within the first =
3
weeks?
Also, what is everyone's interpretation of WON's hold for 8 weeks rule =
when
you get a high flyer? Do you limit the loss to break even instead, to =
give
it more leeway for a pullback?
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
=
=20
"Martin Guldenburg" =
=20
<martinguldenburg@hotm To: =
canslim@lists.xmission.com =20
ail.com> cc: =
=20
Sent by: Subject: RE: =
[CANSLIM] STOPs =20
owner-canslim@lists.xm =
=20
ission.com =
=20
=
=20
=
=20
05/21/2003 02:27 PM =
=20
Please respond to =
=20
canslim =
=20
=
=20
=
=20
Ameritrade offers Trailing Stops
-Martin
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<DIV><FONT face=3DArial size=3D2>I was in Garmin at approx $25 and =
watched it rise=20
to $48 (a nearly 100% gain!!). Then as it began to fall, I put a =
$44 stop=20
on it - 8%. Well, I stopped out the other day and watched it =
continue to=20
decline thinking I'd done the right thing. I was awaiting the 50 =
day line=20
at about $39 to see how to proceed, and then low and behold - it bounces =
back=20
this afternoon on major volume. It's up to about $44.90 in after =
hours=20
trading. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=3DArial size=3D2>Boy, I'm at a loss about what to do =
now. I=20
honestly believe GRMN is a great company. I jumped off the train, =
and want=20
back on. But... boy I don't want to get whipsawed. The chart =
isn't=20
helping me make a decision. Anyone else been through something =
like this=20
before?</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks...</FONT></DIV>
<DIV><FONT face=3DArial size=3D2>Chuck</FONT> </DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dmichael_niemotka@baxter.com=20
=
href=3D"mailto:michael_niemotka@baxter.com">michael_niemotka@baxter.com</=
A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, May 21, 2003 =
3:42=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] STOPs =
and GRMN and=20
selling rules</DIV>
<DIV><BR></DIV><BR>While we are still on the subject of trailing =
stops, it can=20
sometimes<BR>backfire.<BR><BR>At one point, I was up over 20% in GRMN, =
after=20
only a three week time from<BR>purchase.<BR> I chose to put in a =
15%=20
trailing stop, ie at worst case I would make a 5%<BR>profit if the =
stop=20
started to fall. I know some would sell at least a<BR>portion of =
the=20
position at a 20% gain, but because it came so quickly, =
I<BR>remembered one of=20
WON's rules that said that you should hold a stock like<BR>that for =
at =20
least 8 weeks. He also said that you should NEVER let a =
stock<BR>that is=20
up 15-20% turn into a loss, so that is why I used a 15% =
trailer.<BR><BR>And=20
then today, I get the e-mail notice that my stop loss has =
been<BR>activated,=20
and then I watch GRMN go on to have a 10% swing during the =
day,<BR>which would=20
leave me at about a 15% gain again.<BR><BR>Overall, I still think GRMN =
is a=20
great company , and am mad that I got<BR>booted out with the stop =
loss, but I=20
think this is something that everyone<BR>has to deal with if you plan =
on being=20
un-emotional, and using rules.<BR><BR>So what would everyone else have =
done? Should I have had a break even stop<BR>loss instead, since =
I was=20
only up 20% but it happened within the first 3<BR>weeks?<BR><BR>Also, =
what is=20
everyone's interpretation of WON's hold for 8 weeks rule when<BR>you =
get a=20
high flyer? Do you limit the loss to break even instead, to =
give<BR>it=20
more leeway for a pullback?<BR><BR>Thanks<BR><BR>Mike<BR><BR>Mike =
Niemotka ,=20
PE<BR>Sr. Principal Engineer<BR>Baxter Healthcare Corporation<BR>Route =
120=20
& Wilson Road<BR>Round Lake, IL 60073<BR>Tel (847) 270-4075<BR>Fax =
(847)=20
270-4525<BR><A=20
=
href=3D"mailto:michael_niemotka@baxter.com">michael_niemotka@baxter.com</=
A><BR><BR><BR>  =
; =
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To: <A=20
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Subject: RE: [CANSLIM]=20
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STOPs &n=
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05/21/2003 02:27=20
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=20
<BR><BR><BR><BR><BR>Ameritrade offers Trailing=20
=
Stops<BR>-Martin<BR><BR>_________________________________________________=
________________<BR>The=20
new MSN 8: advanced junk mail protection and 2 months FREE*<BR><A=20
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Next Article (by Subject): Re: [CANSLIM] STOPs and GRMN and selling rules "David Bojanowski"
Previous Article (by Subject): RE: [CANSLIM] STOPs and GRMN and selling rules michael_niemotka@baxter.com
Top of Thread: RE: [CANSLIM] STOPs and GRMN and selling rules "Edward W. Gjertsen II"
Next in Thread: Re: [CANSLIM] STOPs and GRMN and selling rules "David Bojanowski"
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