RE: [CANSLIM] FWHT, yet another instance where my tiggerfinger is too slow

From: Tomas <tomas986@yahoo.com>
Subject: RE: [CANSLIM] FWHT, yet another instance where my tiggerfinger is too slow
Date: Wed, 18 Jun 2003 12:20:07 -0700 (PDT)

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Shoot! now you (Katherine) tell me :).



- --- Pritish Shah <pshah@lason.com> wrote:
> Cool -- so this is not a breaking of the rules.
> 
> Now I feel better. 
> 
> Pritish
> 
> 
> >>> kmalm@earthlink.net 06/18/03 02:58PM >>>
> Hi All,
> 
> Here's a quote from the IBD Archives on breakaway
> gaps:
> 
> Question
>   You recommend not buying a stock that has gone up
> 5 percent above its
> pivot point. So how do you buy a stock that gaps up
> out of a base by more
> than 5 percent above the pivot?
> 
>   Answer
>   Occasionally, a stock will break out of a base by
> gapping up above the
> pivot (buy) point. This is known as a break-away
> gap, and it is generally a
> very bullish sign. The gap up indicates there is
> enormous demand for the
> stock. Our studies have uncovered many former big
> winners that began their
> advances in such a way. If one of the stocks you're
> following suddenly gaps
> up above the proper pivot point, and is more than 5
> percent above this
> point, you can still buy the stock in this specific
> instance, assuming the
> base pattern is healthy, and all the characteristics
> identified by our CAN
> SLIMT Investment Research Tool are present. Lacking
> a break-away gap,
> however, whenever you buy a stock that's gone up
> more than 5 percent from
> its pivot, the chances of it dropping 8 percent from
> your purchase price are
> greater, regardless of how powerful the stock
> appears. Even stocks that gap
> up after forming healthy bases can fail.
> 
> 
> -----Original Message-----
> From: owner-canslim@lists.xmission.com 
> [mailto:owner-canslim@lists.xmission.com]On Behalf
> Of Pritish Shah
> Sent: Wednesday, June 18, 2003 12:48 PM
> To: Chazmoore@aol.com; canslim@lists.xmission.com 
> Subject: Re: [CANSLIM] FWHT, yet another instance
> where my tiggerfinger
> is too slow
> 
> 
> For stocks that gap up dramatically on news, I make
> an exception if the
> chart/fundamentals are good. I made an exception on
> this and APPX.
> 
> I will probably get burnt one of these days but in
> the meantime, if the
> market is strong, I go for it.
> 
> If a chart is really good, you could place a buy
> stop or a stop-limit order
> 10 cents above the pivot.
> 
> Regards,
> Pritish
> 
> >>> Chazmoore@aol.com 06/18/03 02:20PM >>>
> Hi Tomas: I too missed FWHT this morning and there
> really is no answer other
> than setting at the computer all day. However, don't
> feel too bad about
> missing this one because there will be many more if
> this market stays hot.
> Charley
> 
> 
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