RE: [CANSLIM] BO, too fast too much

From: Tomas <tomas986@yahoo.com>
Subject: RE: [CANSLIM] BO, too fast too much
Date: Wed, 28 May 2003 21:31:23 -0700 (PDT)
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Katherine,

Thanks for listing the options and a good description
of each.  I have been searching for a stand alone
tracker and alert system.  I think I found one.  It's
Quote Tracker by Medved.

Anyone has experience with this one?  I tested out the
email alert, works good.  It actually has lots of
options for the alert (price low/high, vol, vol %,
price change, change %, ...).  One missing feature
that would be handy is a combination of the criterias.
But it is sufficient for now.

tomas

- --- Katherine Malm <kmalm@earthlink.net> wrote:
> Hi Tomas,
> 
> I think there are a few different options if you
> can't monitor the market
> intraday.
> 
> These require that you first select the stocks that
> you want to monitor for
> breakout, so if something moves that was not on your
> radar, then you will
> not see it:
> 
> (1) As Bill suggested, set up a buy stop/limit
> order. This will be executed
> based on price, so you still have to check in
> sometime before the end of the
> day to ensure that the volume requirements were also
> met. If not, then you
> have to be willing to sell the position.
> 
> (2) Use an alert system (broker based or stand
> alone) that allows you set
> price alerts and then sends them to your phone, text
> based pager or wireless
> PDA. You have to preset the stocks you wish to
> monitor and you will have to
> be able to interrupt your business at hand to check
> in on the market and
> make the trade if the projected volume is
> sufficient.
> 
> (3) Check in on the market at lunch. If the stocks
> you are watching are
> nearing a breakout at that point, place a market
> order or a buy stop/limit
> order. If using a buy stop then you'll need to check
> actual volume at day's
> end and sell if necessary as with option 1.
> 
> This allows you to look for possible breakouts, even
> if the stock wasn't
> originally on your radar. The easiest way to find
> these is to look for
> stocks that close up on the day on volume >=150% of
> ADV (either by using the
> "Where the Big Money is Flowing" or a technical
> program that lets you scan
> for stocks):
> 
> (4) Wait until day's end to find stocks that have
> broken out and are still
> within range (<5%). Advantage is that you will be
> able to see the actual
> volume in order to confirm the BO. The disadvantage,
> as you noted is that
> the stock may very well be extended beyond the
> buying range and you'll have
> to pass and/or wait to see if it pulls back and
> provides a second chance
> entry.
> 
> This last option does not require that you already
> have a stock on your
> radar in order to see an attempted breakout
> intraday:
> 
> (5) Use a breakouts alert service (there's only one)
> that automatically
> sends out an intraday alert when a stock in a basing
> pattern is breaking
> out. This can go to your email, text based pager or
> wireless PDA address.
> The advantage over any of the other options is that
> you do not have to seek
> out the stock in question to determine if it is
> setting up and when/if it
> attempts an intraday breakout, you will be notified.
> As with option 1,
> however, the intraday alerts are based on projected
> volume, so if you choose
> to execute an order and end of day volume does not
> pan out, you'll have to
> be willing to sell the position. Alternately, you
> can wait until near
> mid-day or near market close to make a buy decision,
> but then you risk
> missing the breakout price window.
> 
> Katherine
> 
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf
> Of Bill Triffet
> Sent: Wednesday, May 28, 2003 9:46 AM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] BO, too fast too much
> 
> 
> Ah the proverbial problem for us folks with
> non-investment jobs...
> 
> In the past, When a nice handle has formed, I'd make
> a buy/limit order just
> above the pivot. I'd then check to see if it
> executed. If it did, I'd check
> to see if volume is sufficient. If the volume is
> low, I'd immediately sell.
> 
> I've also been setting hard stops immediately after
> the buy as I've not been
> able to track the market as much during the day.
> 
> --
> Bill
> 
> -------Original Message-------
> From: Tomas <tomas986@yahoo.com>
> Sent: 05/27/03 08:55 PM
> To: canslim canslim <canslim@lists.xmission.com>
> Subject: [CANSLIM] BO, too fast too much
> 
> >
> > Looks like USNA BO from a nice tight flat base
> today.
> I have been eyeing this stocking, trying to get in
> for
> awhile.  But it is too late at the end of the day
> since it rose ~14% today.  So, my question is how do
> you get a position in when the BO is so strong and
> so
> fast?  I can't be looking at stocks every minute of
> the day.
> 
> How do some of you guys do it?  Set email alerts?
> Maybe something else?  How has your alert system
> been
> working for ya?  Any other suggestion?
> 
> Thanks,
> tomas
> 
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