Go to Jeff Salisbury LWGate Home Page.From: michael_niemotka@baxter.com
Subject: RE: [CANSLIM] BO, too fast too much
Date: Thu, 29 May 2003 07:52:09 -0500
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Tomas,
Quote Tracker is what I use, and have been very pleased with it. I have it
get the real time data feed from Ameritrade, and the alerts work well. The
only problem I sometimes have if having an alert pop up on the desktop,
during the work day, but not having the time to look at it in detail to see
if action is required. But I can tell you that it has saved my butt on a
couple of times when a stock took a quick plunge and I did not have a stop
order in place.
For what it is worth, I would suggest placing a 7-8% stop loss alert after
you open a position, and maybe one at a 20% gain, so that you know when a
stock passes thru these "key" points.
Also, there is a program called FCharts which you can get for free, or pay
about $50 for a more advanced version, that allows for real time charting
with a feed from Quote Tracker. It allows you to do more TA on the charts,
etc.
Let me know offline if you have any more questions.
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
Tomas
<tomas986@yahoo.com> To: canslim@lists.xmission.com
Sent by: cc:
owner-canslim@lists.xm Subject: RE: [CANSLIM] BO, too fast too much
ission.com
05/28/2003 11:31 PM
Please respond to
canslim
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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