Re: Re: [CANSLIM] Break outs or pullbacks

From: Bill Triffet <btriffet@earthlink.net>
Subject: Re: Re: [CANSLIM] Break outs or pullbacks
Date: Thu, 10 Jul 2003 12:27:18 -0700 (PDT)
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Without me answering for Charlie...
You make a good point. The only fly in the ointment for me was what the general markets were doing. Looking back mid June when I sold, the markets were dipping as well. My sold off stocks recovered and quickly moved backup a couple days before the general market headed back as well. I was leary of re-entering till I saw the markets move up - I missed my chance. Looking back I can see I was looking for a perfect situation where the markets are clearly defined. This was a big mistake as many of the breakouts of late are occuring on flat or even down days.

Fortunately, we live to trade another day!

- --
Bill


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>>Charley, I don't understand this course of action. Why not sell it when it
goes past a point (stop) on its way down and buy it back after it clears a
resistance point on its way back up? Assuming all else (fundies, news,
etc.) remains the same... my data shows that I get to keep some of the profits
from the breakout.... avoid stocks that do more than 'slump'.... allows me
to buy back stocks that have 'once again' demonstrated strength....  

Gene

  ----- Original Message ----- 
  From: Chazmoore@aol.com 
  To: canslim@lists.xmission.com 
  Sent: Thursday, July 10, 2003 12:52 PM
  Subject: Re: [CANSLIM] Break outs or pullbacks


  Bill: For what its worth I too found myself to eager to sell when good
stocks slumped after breakout. As you point out this is probably a normal
reaction after 3 years of a falling market. I have reached the same
conclusion you have and that is to stick with them back to the base and expect a
recovery. It may be bumpy for a while but I think this is the right course of
action. 

  Charley



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<DIV><FONT face="Comic Sans MS">Charley, I don't understand this course of 
action. Why not sell it when it goes past a point (stop) on its way down and buy 
it back&nbsp;after it clears a resistance point on its way back up? Assuming all 
else (fundies, news, etc.) remains the same... my data shows that I get to keep 
some of the profits from the breakout.... avoid stocks that do more than 
'slump'....&nbsp;allows me to buy back stocks that have 'once again' 
demonstrated strength.... &nbsp;</FONT></DIV>
<DIV><FONT face="Comic Sans MS"></FONT>&nbsp;</DIV>
<DIV><FONT face="Comic Sans MS">Gene</FONT></DIV>
<DIV><FONT face="Comic Sans MS"></FONT>&nbsp;</DIV>
<BLOCKQUOTE 
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> 
  <A title=Chazmoore@aol.com 
  href="mailto:Chazmoore@aol.com">Chazmoore@aol.com</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A title=canslim@lists.xmission.com 
  href="mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Thursday, July 10, 2003 12:52 
  PM</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Break outs or 
  pullbacks</DIV>
  <DIV><BR></DIV><FONT face=arial,helvetica><FONT size=2>Bill: For what its 
  worth I too found myself to eager to sell when good stocks slumped after 
  breakout. As you point out this is probably a normal reaction after 3 years of 
  a falling market. I have reached the same conclusion you have and that is to 
  stick with them back to the base and expect a recovery. It may be bumpy for a 
  while but I think this is the right course of action. <BR><BR>Charley</FONT> 
  </FONT></BLOCKQUOTE></BODY></HTML>

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