Go to Jeff Salisbury LWGate Home Page.From: "Kelly Short" <kelly.short@fw.us.neoris.com>
Subject: RE: [CANSLIM] Market Trend Charts
Date: Wed, 16 Jul 2003 11:09:17 -0500
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David,
=20
What is the "Market Wizards" you refer to? Is this a book and if so, =
could you send me a link with more information on it. Has anyone else in =
the group read this book that could offer opinions on its value?
=20
Kelly
- -----Original Message-----
From: Dave Stem [mailto:canslimdave2003@yahoo.com]
Sent: Wednesday, July 16, 2003 2:18 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] Market Trend Charts
Pritish...=20
=20
A good idea is to focus almost solely on risk and let the profits take =
care of themselves... which is what the 2% or less risk rule allows you =
to do. In his book, WON talks about how if you are alert, you will =
actually be out of many stocks before the 7-8% loss because you will be =
able to tell when a stock is not acting right. The 7-8% loss is the =
maximum. It's not a blind rule to follow. =20
=20
David Ryan, in Market Wizards, said he would sell half of any position =
that fell back to the pivot point. I highly recommend the interview =
with him. He talks very specifically about how to trade using CANSLIM. =
And he won some sort of investing championship 3 years in a row... which =
is not bad. Returns well over 100 percent each year.
=20
Personally, I think if you just buy breakouts and blindly use a 7-8% =
stop over the next few years, there is a good chance your portfolio will =
be eaten away... particularly if you are so naive as I was last year... =
to buy many stocks simultaneously without waiting for profits to show up =
first.
=20
Dave
Pritish Shah <pshah@lason.com> wrote:=20
I am still learning and the idea of "8% loss in a stock should not be =
greater than 2% of total portfolio" is a great. So at minimum, I should =
not invest more than 1/12th of my total portfolio in any individual =
stock.
_____ =20
Do you Yahoo!?
SBC =
<http://pa.yahoo.com/*http://rd.yahoo.com/evt=3D1207/*http://promo.yahoo.=
com/sbc/> Yahoo! DSL - Now only $29.95 per month!
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<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial color=3D#0000ff =
size=3D2>David,</FONT></SPAN></DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial color=3D#0000ff =
size=3D2>What=20
is the "Market Wizards" you refer to? Is this a book and if so, could =
you send=20
me a link with more information on it. Has anyone else in the group read =
this=20
book that could offer opinions on its value?</FONT></SPAN></DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D612290816-16072003><FONT face=3DArial color=3D#0000ff =
size=3D2>Kelly</FONT></SPAN></DIV>
<BLOCKQUOTE>
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B> Dave Stem=20
[mailto:canslimdave2003@yahoo.com]<BR><B>Sent:</B> Wednesday, July 16, =
2003=20
2:18 AM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> =
RE:=20
[CANSLIM] Market Trend Charts<BR><BR></FONT></DIV>
<DIV>Pritish... </DIV>
<DIV> </DIV>
<DIV>A good idea is to focus almost solely on risk and let the profits =
take=20
care of themselves... which is what the 2% or less risk rule =
allows you=20
to do. In his book, WON talks about how if you are alert, you =
will=20
actually be out of many stocks before the 7-8% loss because you will =
be able=20
to tell when a stock is not acting right. The 7-8% loss is the=20
maximum. It's not a blind rule to follow. </DIV>
<DIV> </DIV>
<DIV>David Ryan, in Market Wizards, said he would sell half of any =
position=20
that fell back to the pivot point. I highly recommend the =
interview with=20
him. He talks very specifically about how to trade using =
CANSLIM. =20
And he won some sort of investing championship 3 years in a row... =
which is=20
not bad. Returns well over 100 percent each year.</DIV>
<DIV> </DIV>
<DIV>Personally, I think if you just buy breakouts and blindly use a =
7-8% stop=20
over the next few years, there is a good chance your portfolio will be =
eaten=20
away... particularly if you are so naive as I was last year... to buy =
many=20
stocks simultaneously without waiting for profits to show up =
first.</DIV>
<DIV> </DIV>
<DIV>Dave</DIV>
<DIV><BR><BR><B><I>Pritish Shah <pshah@lason.com></I></B> wrote: =
<BLOCKQUOTE=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px =
solid; WIDTH: 100%"><BR>I=20
am still learning and the idea of "8% loss in a stock should not be =
greater=20
than 2% of total portfolio" is a great. So at minimum, I should not =
invest=20
more than 1/12th of my total portfolio in any individual=20
stock.</BLOCKQUOTE></DIV>
<P>
<HR SIZE=3D1>
Do you Yahoo!?<BR><A=20
=
href=3D"http://pa.yahoo.com/*http://rd.yahoo.com/evt=3D1207/*http://promo=
.yahoo.com/sbc/">SBC=20
Yahoo! DSL</A> - Now only $29.95 per month!</BLOCKQUOTE></BODY></HTML>
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Next Article (by Date): RE: Trailing stops and taking profits (was: RE: [CANSLIM] AAII letter to the editor) "Katherine Malm"
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Next in Thread: RE: [CANSLIM] Market Trend Charts Dave Stem
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