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

From: "Tim Katona" <tkat17@earthlink.net>
Subject: RE: [CANSLIM] FWHT, yet another instance where my tiggerfinger is too slow
Date: Wed, 18 Jun 2003 12:43:56 -0700

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Here is what 'could' have happened with a FWHT buy stop limit order today.
(I was asleep at the wheel!)

FWHT		Using cwh BO price+.10		$ amount (WON pyramid up)
$15.10		pivot				$3,000 buy stop at $15.10, limit at $15.25
$15.25 		pivot +1%
$15.40 		pivot +2%			$2,000 buy stop at $15.40, limit at $15.55
$15.55 		pivot +3%
$15.70 		pivot +4%			$1,000 buy stop at $15.70, limit at $15.86
$15.86 		pivot +5%
						total $5,000 or $50,000 or whatever position

With the FWHT breakout today and a stop limit order, I at least would have
bought $1,000 at $15.86 at 9:35AM and $2,000 at $15.55 at 9:36AM since it
gapped up to $16.50 at 9:30AM and then fell back to $15.54.

Otherwise, I 'could' have bought as high as $16.50 using a buy stop (at
$15.10 but gapped past it). Much less risk using a buy stop limit order.

On to the next breakout!
Tim


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