Re: [CANSLIM] Break outs or pullbacks

From: michael_niemotka@baxter.com
Subject: Re: [CANSLIM] Break outs or pullbacks
Date: Thu, 10 Jul 2003 16:51:36 -0500

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What about the 7-8% loss rule, to give you some room if the stock corrects?


Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com


                                                                                                                            
                    "Mike Lucero"                                                                                           
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                    owner-canslim@lists.xm       Subject:     Re: [CANSLIM] Break outs or pullbacks                         
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                    07/10/2003 04:38 PM                                                                                     
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At a William O'Neil seminar, David Ryan said you should sell at least half
if a stock falls below it's pivot.

- ----- Original Message -----
From: "Bill Triffet" <btriffet@earthlink.net>
To: <canslim@lists.xmission.com>
Sent: Thursday, July 10, 2003 8:57 AM
Subject: Re: [CANSLIM] Break outs or pullbacks


Mike,

I started out this "trading season" strictly buying breakouts. I've since
started keeping equal watch on pullbacks on recent breakouts for second
chance entries provided the volume is light.

My reasoning is that in recent buys SHFL, AMHC, ADVP, to name a few, they
broke out nicely. They quickly gained steam within a matter of a week or
two. Problem was - they all started breaking down. It was not on huge
volume
but I didn't want to see my profits turn into losses. My stop-losses were
set perhaps too tight so they all sold off. Looking back, offered secondary
entry points. I blame this short sightedness on my technique to several
years of bear rallies with quick 10-12% gains that fell back down equally
as
fast. It's tough to watch an issue shoot up 12% then fall back to my buy
point.

I've since made a mental pact with myself (g) to allow them to fall right
back to the base for the first few weeks - regardless of it being 10-20% in
the first few weeks. I also think the secondary entry point is a good
option. It's like a final shakeout for the stock to move ahead unencumbered
by "waffley selling" like I was doing.

- --
Bill





- -------Original Message-------
From: michael_niemotka@baxter.com
Sent: 07/10/03 08:28 AM
To: canslim@lists.xmission.com
Subject: [CANSLIM] Break outs or pullbacks

>
> A general question to the group:

Do you tend to look strictly for breakouts from sound bases, and/or do you
look for secondary entry points into stocks that have already broken out
and still show promise?

Mike

Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com



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