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 20:23:04 -0700

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Gotcha. To explain it better: allow it to come back to the pivot on a
orderly pullback (not a selloff).

- --
Bill


- ----- Original Message -----
From: "Bob Johnson" <starcast82@yahoo.com>
To: <canslim@lists.xmission.com>
Sent: Thursday, July 10, 2003 5:00 PM
Subject: Re: Re: [CANSLIM] Break outs or pullbacks


> Watch the wiggle room. If it doesn't work out you'll start taking bigger
losses which will take away from your profits.
>
> Bill Triffet <btriffet@earthlink.net> wrote:My mistake was selling a
couple points above their pivots. Had I given them just a wee bit more
wiggle room I'd still be in. I didn't wait for them to touch the pivot
price. I'd figured if they went up 12-15% they wouldn't pull all the way
back to the pivot right away.
>
> Just a bit more wiggle room next time. (g)
>
> --
> Bill
>
>
>
> -------Original Message-------
> From: Mike Lucero
> Sent: 07/10/03 02:38 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] Break outs or pullbacks
>
> >
> > 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"
> To:
> 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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