Go to Jeff Salisbury LWGate Home Page.From: "Rich W" <rich1334@brick.net>
Subject: [CANSLIM] Re: [Canslim] Re: Katherine
Date: Wed, 18 Jun 2003 17:14:39 -0500
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I will 2nd this, as Katherine is now one, who I save her answers, to all the Questions this groups comes up with, makes a great resource to go back to. From Rich W ST Louis Stock Analysis Group Coordinator - ----- Original Message ----- From: "John Solarno" <workvirt@workvirtual.com> To: <canslim@lists.xmission.com> Sent: Wednesday, June 18, 2003 4:13 PM Subject: RE: [CANSLIM] TSCO Katherine: Has anybody told you recently that you are absolutely, totally AWESOME? I was just sorting through a passel of email and wondering how I was going to respond to it all, and then I saw your message and thought, "Look at this woman. Day after day after day, she takes time out of whatever she's doing to write out cogent, detailed replies to people, most of whom are complete strangers." If someone printed out all of your emails over the years and stacked them up, I'm sure the pages would exceed all of the Harry Potter books combined! There are obviously many people who contribute to this board, but I thought I would take a moment and make sure that one of them (you!) was told THANK YOU for being so consistently generous with your time and knowledge. John Solarno - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Katherine Malm Sent: Wednesday, June 18, 2003 8:56 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] TSCO Hi Harold, In the context of the discussion, a stock that is *already* rising from a previous consolidation affords no low-risk entry point. With TSCO, an entry here puts you at risk of sitting out another pullback to the previous logical area of support. In this case, that can be all the way back to the previous pivot, slightly below (as that wide bar during the last pullback just after the last BO suggests), or somewhere around the 50dMA. The slight wedging action in recent weeks suggests that the probability of a pullback is very high, and particularly if one uses an 8% stop loss, the probability of being shaken out is therefore very high. If one really likes this stock, then it's a lot smarter to wait for a benign pullback and take your chances that it begins to move up again from the pullback, as your odds of making money on the trade are considerably higher. This is precisely what Fred has done for a couple of years, purchasing on pullbacks and selling TSCO many times since 12/01. I think the lesson with something like TSCO is that the 8% stop loss is a protective mechanism for entry at the ideal buy point (a strong BO on volume from a base), as the pullback here tends not to be much deeper if the BO is strong. However, using an 8% stop when entering an extended stock is just and excuse to loose 8%. There are plenty of good stocks out there, but one can purcase "a very good stock" and still lose their shirt 8% at a time. When a stock is extended, the 8% stop has no logic, because the next logical area of support is generally much, much lower than 8% below the extended entry. Even if one were to set a stop well below the 8% and back at logical support, then the risk is that the stock not only pulls back but *fails* outright, falling back into the base. At that point, a stop would force you out at a much bigger loss than 8%. Oooh...makes me shiver to think about it. Katherine - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Harold Josephson Sent: Wednesday, June 18, 2003 1:09 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] TSCO Hi Katherine, What do you conclude from this chart? Thanks Harold - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Katherine Malm Sent: Monday, June 16, 2003 11:07 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] TSCO Hi Treb, Here's the chart as I see it: http://www.cwhcharts.com/katherine/TSCO061603.JPG Katherine - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Treb Courie Sent: Monday, June 16, 2003 11:48 AM To: canslim@lists.xmission.com Subject: [CANSLIM] TSCO Is TSCO breaking out today? It's got good fundamentals and is on my watch list. However, I think I'm going to stay off of it--it looks to me like it broke out of a sloppy handle on 2 June and is too extended now. Regards, Treb - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -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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