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 12:06:13 -0700

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I too missed this one, yet be careful on buy stops. I used to put in a buy
stop at pivot + 10 cents until I had one gap up and the order was filled
2.5% above what I thought I would get. Then it returned to the pivot within
minutes.

Now I put in buy stop limit orders for stocks on my watchlist that I've
comfortable with.
The stop is set at "pivot + 10 cents" and the limit at (pivot + 10 cents)
plus 1%. That way my buy is within 1% of what I expected. Otherwise, it
could gap up at the open and return to the pivot, leaving you with an
immediate loss. They I may make a second and third buy at 2-3% and 4-5%
above (pivot + 10 cents). Stop at 2%, limit at 3%, then stop at 4% and limit
at 5%.
Regards,
Tim


- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Pritish Shah
Sent: Wednesday, June 18, 2003 11:48 AM
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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