RE: [CANSLIM] BO, too fast too much

From: jeffwdc <jeffwdc@yahoo.com>
Subject: RE: [CANSLIM] BO, too fast too much
Date: Thu, 29 May 2003 07:52:39 -0700 (PDT)
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Thanks Pritish!

- --- Pritish Shah <pshah@lason.com> wrote:
> Jeff,
> 
> I use cwhcharts.com. I have been using it for couple
> weeks with the email alert and so far I have made
> about 5%. Ofcourse, I pick and choose what stocks I
> want but atleast it narrows the universe down to
> just the Earth. Then I select the city that I want
> to visit. 
> 
> This is the service that Katherine works with. I
> have to say that I am impressed. There are some
> stability issues but cwhcharts.com is working
> diligently to fix those problems.
> 
> Regards,
> Pritish
> 
> >>> jeffwdc@yahoo.com 05/28/03 05:21PM >>>
> Hi Katherine,
> 
> Thanks for all the info. you published over the
> weekend!
> 
> You mention a Breakout Alert Service.  May I ask the
> name of this service?  I'm not ready to subscribe,
> but
> it would be nice to know for the future.
> 
> Best Regards, jeff gasta
> 
> --- 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
> > 
> > __________________________________
> > Do you Yahoo!?
> > Yahoo! Calendar - Free online calendar with sync
> to
> > Outlook(TM).
> > http://calendar.yahoo.com 
> > 
> > -
> 
=== message truncated ===


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