Go to Jeff Salisbury LWGate Home Page.From: "Dempsey, Chris" <Chris.Dempsey@ReedHycalog.com>
Subject: RE: [CANSLIM] GRMN and Selling
Date: Tue, 17 Jun 2003 13:12:34 -0500
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The sell side is tough. I sold GPRO on 4/29 just minutes before the close, after having bought = on 4/22 with caution because the average of the handle was below the mid = point of the drop. Oh well! The following between the stars is from the archives about sells. ******************************************************************** - -----Original Message----- From: chris dempsey [mailto:chrisdempsey@mail.com] Sent: Sunday, December 12, 1999 10:45 AM To: canslim@lists.xmission.com Subject: Subject: Re: [CANSLIM] Selling Rules >From: Earl Setser [esetser@csolutions.net] >Sent: Wednesday, November 24, 1999 8:15 PM >Subject: Re: [CANSLIM] Selling Rules >"watch out if" - not sell, but watch out? >"In many instances, the stock should be sold" - doesn't define which instances >"consider selling if ..." used in numerous descriptions >"Be careful on selling if" >"Try to avoid selling if" >"You may occasionally want to sell if" >"In a few cases, you should sell if.." >"In some cases, sell if a stock" >and my personal favorite >"Sell quickly before it becomes completely clear that a stock should be sold" I liked your examples Earl. How about adding a few. #18 "Try to avoid selling on shakeouts." #20 "You may occasionally want to sell if a decline from the peak = exceeds 12 to 15%." Is he trying to tell us here that a shakeout is 12 to 15% and over that = is a sell? But if that is the case why did he use the word occasionally? #11 "...sell because its to late!" #11 "Wait until you are happy and tickled to death to sell." I'm glad to see that others have problems selling. ********************************************************************* - -----Original Message----- From: Edward W. Gjertsen II [mailto:ed@macktracks.com] Sent: Tuesday, June 17, 2003 12:41 PM To: canslim@lists.xmission.com Subject: [CANSLIM] GRMN and other thoughts GRMN is a great example of flexible selling rules. In hindsight, everything is clear. GRMN is one that raised a yellow flag for us to watch more closely. We did not sell out of our entire position until this morning. It goes back in the hopper as if it was a stock we never purchased. Remember, stocks don't have memories of who bought and sold them, only people do. The easiest rules to follow for us is 8% (or less) on the initial purchase or to possibly sell half after a 100% gain. Everything between these two points is open for discussion. Look at WON's selling rules from the first HTTMIS to his follow-up books. Buying is easy, selling is not. His selling rules often contradict themselves and there are too many variables to take into account on the sell side to offer strict disciplines after a stock has risen 10% from its initial purchase price. The selling mechanism for profitable positions will always be frustrating. Ed Gjertsen II ed@macktracks.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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