[CANSLIM] ANN at 8% loss

From: "John Calkins" <jcalkins@olypen.com>
Subject: [CANSLIM] ANN at 8% loss
Date: Thu, 10 Jul 2003 23:55:13 -0700

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Hi CANSLIMers,

I bought ANN on Tuesday - breakout day - and today it pulled back below its
pivot on higher volume than its breakout day.  In looking at at the intraday
trading, there was a huge volume/price move early in the day then the stock
was quiet the rest of the day.  I watched closely during the day for a price
swing at the end of the day so as not to jump the gun on selling.  I saw the
price creep up a little at the end of the day so I held.  I have herd not to
sell on first day intra-day movement but to watch the following day for
continued movement.  I almost pulled the plug anyway. Would it be wise to
concider to sell Friday if the price does not rebound on volume during the
day?  This is the hardest part for me.  I will of coarse sell if it drops to
my mental 8% stop.  I do not like the stock anymore because it did not move
as I anticipated.  I would have understood a drop on low volume, but this
high volume drop gets my attention every time.  This is the part that is so
dissapointing.  You spend weeks making a profit on one stock, then the next
two drop like a rock.  My selling at 7-8 % are engrained now.  With the
entry within a couple of percent of the pivot, at least I get a second day
of watching before I pull the plug.  The last stock I dropped was JOYG but
that was clear to me on the volume and I got out even including my
commistions.  This down day on lower volume in the market has me holding off
a bit.  When I bought ANSS, a few days later the price moved down and
"kissed the pivot" as Katherine says and it volume is predictible and still
is.  So I guess my question is would you sell ANN because of yesterdays
price/volume action or give it a second chance?

JC


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