Go to Jeff Salisbury LWGate Home Page.From: michael_niemotka@baxter.com
Subject: Re: [CANSLIM] breakoutwatch
Date: Wed, 20 Aug 2003 15:09:13 -0500
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Top of Thread: Re: [CANSLIM] breakoutwatch "Pritish Shah"
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Pritish,
So if I understand you correctly, you prefer to ride out the 20-40% gains
from breakouts, then move the money elsewhere, rather than watching
price/volume actions for sell point. As a result, you may miss out on
stocks that go up further, correct some amount, then continue, but you
temper that with using the money that would have been "idle" during the
corrections to get into other new breakouts in hopes of gaining another 20%
during the same time period that you would have been "losing" ground.
I am very tempted to try that approach, although it does seem to be more
risky , and I guess that is why you are strengthening your sell rules to
protect capital when a breakout goes nowhere or starts to fail.
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
"Pritish Shah"
<pshah@lason.com> To: canslim@lists.xmission.com
Sent by: cc:
owner-canslim@lists.xm Subject: Re: [CANSLIM] breakoutwatch
ission.com
08/20/2003 02:50 PM
Please respond to
canslim
Yien,
I do not think it makes a difference on what your turnover is. The
thing you have to make sure of is that you have more profitable trades
and less unprofitable trades. Once your target is met, you can choose to
stay in the stock or get out of it.
I tend to believe that with $10 price for a trade, it is better to get
in quick and get out quick if things don't go your way.
CANSLIM is a short term (3-6 month) trading system. Imagine this. If
you turnover your money once every six months for 20% gain, then your
gain for the year is 44% (1.2*1.2 - 1 = 1.44 - 1 = .44 or 44%). The
target return is 20%. If you get some that are 20%, some that are 40%
and some that are -7%, then you will probably come to around 20%
return.
I have been trading for a long time but have focused on CANSLIM
extremely seriously for the last 4 months and I found that getting your
money to work for you as soon as possible in the right stocks is the
best thing to do. I have been tweaking and tweaking my sell and hold
rules and when I read Thomas Bulkowski's chart pattern book, it made me
realize where I was making a mistake (holding even when the target was
met). Ofcourse, it was that book that opened my eyes to how to set the
target to begin with.
My target: 35% for the year.
Pritish
>>> ylung@engin.umich.edu 8/20/2003 2:04:51 PM >>>
Pritish,
Long term investors often talk about the drawbacks of trading too much
- -
namely commission costs, higher taxes for shorter term trading, and
the
compounding effect of money.
What is your take on these factors? Do you think that having a
high turnover
in your portfolio by any way affect your performance? How long have
you
beeing trading?
Thanks
Yien
On Wed, 20 Aug 2003, Pritish Shah wrote:
> My opinion of this site is great. I do not look at the CE/CQ. I buy
a
> breakout if there is positive news preceeding the breakout. That
seems
> to have worked the best for me.
>
> My latest examples are AUO (+21% - sold), ESI(+30%), NTST(+4%),
> ESPD(+5%), TUES (+16%), CCMP (+4%), WFSI(+43%). All these I bought
based
> on breakoutwatch.com email alerts.
>
> I think what matters more than CE/CQ is the chart action based upon
the
> news. The chart tells you whether people like the news or hate the
news.
> I have the trust that breakoutwatch has already scanned and only put
the
> stocks with best CE/CQ in the list to begin with. With that in mind,
I
> do not look at CE/CQ.
>
> Plus, if I buy some stock and nothing happens in it for a week, I
sell
> it off -- does not matter if the loss is 1% or 5%. My recent sells
are
> basically happening fast around 6-7% no matter what.
>
> I am in the process of compiling an excel spreadsheet to identify
what
> works. I will have it done in the next few days and I will share it
with
> the group if breakoutwatch.com allows.
>
>
> Pritish
>
>
> >>> JHend746@cox.net 8/20/2003 11:54:36 AM >>>
> For those of you that use breakout watch, I have a few questions:
> 1) Do you buy as soon as you get an alert or do you filter for
> chart quality and the CE value to determine what do buy?
> 2) What is your opinion overall for the site?
>
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Next Article (by Author): RE: [CANSLIM] LF - Frustration! Could I have gotten in yesterday? michael_niemotka@baxter.com
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Top of Thread: Re: [CANSLIM] breakoutwatch "Pritish Shah"
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