Go to Jeff Salisbury LWGate Home Page.From: "Chuck Dreier" <chucknsc@mindspring.com>
Subject: Re: [CANSLIM] STOPs and GRMN and selling rules
Date: Thu, 22 May 2003 08:50:21 -0400
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Mike,
The stop was at 8% below the top, rounding off to the nearest dollar. I =
figure a drop of 8% from the high (actually it was a little more than =
that) follows the WON rule.
Chuck
----- Original Message -----=20
From: michael_niemotka@baxter.com=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, May 21, 2003 5:09 PM
Subject: Re: [CANSLIM] STOPs and GRMN and selling rules
Chuck,
What made you put a stop at $44?
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
"Chuck Dreier" =
=20
<chucknsc@mindspring.c To: =
canslim@lists.xmission.com =20
om> cc: =
=20
Sent by: Subject: Re: =
[CANSLIM] STOPs and GRMN and selling rules =20
owner-canslim@lists.xm =
=20
ission.com =
=20
=
=20
=
=20
05/21/2003 03:44 PM =
=20
Please respond to =
=20
canslim =
=20
=
=20
=
=20
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.
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
----- Original Message -----
From: michael_niemotka@baxter.com
To: canslim@lists.xmission.com
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
"Martin Guldenburg"
<martinguldenburg@hotm To:
canslim@lists.xmission.com
ail.com> cc:
Sent by: Subject: RE:
[CANSLIM] STOPs
owner-canslim@lists.xm
ission.com
05/21/2003 02:27 PM
Please respond to
canslim
Ameritrade offers Trailing Stops
-Martin
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<DIV><FONT face=3DArial size=3D2>Mike,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2>The stop was at 8% below the top, =
rounding off to=20
the nearest dollar. I figure a drop of 8% from the high (actually =
it was a=20
little more than that) follows the WON rule.</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 =
5:09=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>Chuck,<BR><BR>What made you put a stop at=20
$44?<BR><BR><BR><BR>Mike Niemotka , PE<BR>Sr. Principal =
Engineer<BR>Baxter=20
Healthcare Corporation<BR>Route 120 & Wilson Road<BR>Round Lake, =
IL=20
60073<BR>Tel (847) 270-4075<BR>Fax (847) 270-4525<BR><A=20
=
href=3D"mailto:michael_niemotka@baxter.com">michael_niemotka@baxter.com</=
A><BR><BR><BR>  =
; =
&=
nbsp; &n=
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"Chuck=20
=
Dreier" =
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sp; &nbs=
p;  =
; =
=20
=
<BR> &nb=
sp; =20
<<A=20
=
href=3D"mailto:chucknsc@mindspring.c">chucknsc@mindspring.c</A> &nbs=
p; =20
To: <A=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
&=
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Sent=20
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by: &nbs=
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Subject: Re: [CANSLIM] STOPs and GRMN and =
selling=20
=
rules &n=
bsp; =20
=
<BR> &nb=
sp; =20
<A=20
=
href=3D"mailto:owner-canslim@lists.xm">owner-canslim@lists.xm</A> &n=
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=20
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05/21/2003 03:44=20
=
PM  =
; =
&=
nbsp; &n=
bsp; &nb=
sp; &nbs=
p; =20
=
<BR> &nb=
sp; =20
Please respond=20
=
to  =
; =
&=
nbsp; &n=
bsp; &nb=
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canslim =
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=20
<BR><BR><BR><BR><BR>I was in Garmin at approx $25 and watched it rise =
to $48=20
(a nearly 100%<BR>gain!!). Then as it began to fall, I put a $44 =
stop on=20
it - 8%. Well, I<BR>stopped out the other day and watched it =
continue to=20
decline thinking I'd<BR>done the right thing. I was awaiting the =
50 day=20
line at about $39 to see<BR>how to proceed, and then low and behold - =
it=20
bounces back this afternoon on<BR>major volume. It's up to about =
$44.90=20
in after hours trading.<BR><BR>Boy, I'm at a loss about what to do =
now. =20
I honestly believe GRMN is a<BR>great company. I jumped off the =
train,=20
and want back on. But... boy I<BR>don't want to get =
whipsawed. The=20
chart isn't helping me make a decision.<BR>Anyone else been through =
something=20
like this before?<BR><BR>Thanks...<BR>Chuck<BR> ----- Original =
Message=20
-----<BR> From: <A=20
=
href=3D"mailto:michael_niemotka@baxter.com">michael_niemotka@baxter.com</=
A><BR> To:=20
<A=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
<BR> Sent:=20
Wednesday, May 21, 2003 3:42 PM<BR> Subject: RE: [CANSLIM] STOPs =
and GRMN=20
and selling rules<BR><BR><BR> While we are still on the subject =
of=20
trailing stops, it can sometimes<BR> backfire.<BR><BR> At =
one point,=20
I was up over 20% in GRMN, after only a three week time=20
from<BR> purchase.<BR> I chose to put in a 15% trailing =
stop, ie at=20
worst case I would make a 5%<BR> profit if the stop started to=20
fall. I know some would sell at least a<BR> portion of the =
position=20
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=20
at least 8 weeks. He also said that you should NEVER let=20
a<BR> stock<BR> that is up 15-20% turn into a loss, so that =
is why I=20
used a 15% trailer.<BR><BR> And then today, I get the e-mail =
notice that=20
my stop loss has been<BR> activated, and then I watch GRMN go on =
to have=20
a 10% swing during the day,<BR> which would leave me at about a =
15% gain=20
again.<BR><BR> Overall, I still think GRMN is a great company , =
and am=20
mad that I got<BR> booted out with the stop loss, but I think =
this is=20
something that everyone<BR> has to deal with if you plan on being =
un-emotional, and using rules.<BR><BR> So what would everyone =
else have=20
done? Should I have had a break even<BR> stop<BR> loss =
instead, since I was only up 20% but it happened within the first=20
3<BR> weeks?<BR><BR> Also, what is everyone's interpretation =
of=20
WON's hold for 8 weeks rule<BR> when<BR> you get a high =
flyer? =20
Do you limit the loss to break even instead, =
to<BR> give<BR> it more=20
leeway for a =
pullback?<BR><BR> Thanks<BR><BR> Mike<BR><BR> Mike=20
Niemotka , PE<BR> Sr. Principal Engineer<BR> Baxter =
Healthcare=20
Corporation<BR> Route 120 & Wilson Road<BR> Round Lake, =
IL=20
60073<BR> Tel (847) 270-4075<BR> Fax (847) =
270-4525<BR> <A=20
=
href=3D"mailto:michael_niemotka@baxter.com">michael_niemotka@baxter.com</=
A><BR><BR><BR><BR> &=
nbsp; =20
"Martin=20
=
Guldenburg"<BR><BR> =
=20
<<A=20
=
href=3D"mailto:martinguldenburg@hotm">martinguldenburg@hotm</A> &nbs=
p; =20
To:<BR> <A=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
<BR> &nb=
sp; =20
=
ail.com> &n=
bsp; =20
=
cc:<BR><BR> &n=
bsp; =20
Sent=20
=
by: &nbs=
p; =20
Subject: RE:<BR> [CANSLIM]=20
=
STOPs<BR> &nbs=
p; =20
<A=20
=
href=3D"mailto:owner-canslim@lists.xm">owner-canslim@lists.xm</A><BR><BR>=
&=
nbsp; =20
=
ission.com<BR><BR><BR><BR>  =
; =
=20
05/21/2003 02:27=20
=
PM<BR><BR> &nb=
sp; =20
Please respond=20
=
to<BR> &=
nbsp; =20
canslim<BR><BR><BR><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] Upward sloping saucer??? Mhboatman@aol.com
Previous Article (by Subject): Re: [CANSLIM] STOPs and GRMN and selling rules "David Bojanowski"
Top of Thread: Re: [CANSLIM] STOPs and GRMN and selling rules "Jeff Mulder"
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