From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3234 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Thursday, March 20 2003 Volume 02 : Number 3234 In this issue: Re: [CANSLIM] New NASD trading restrictions? [CANSLIM] selling laggards Re: [CANSLIM] selling laggards [CANSLIM] Thank You Katherine and Ed - OVTI [CANSLIM] OFF TOPIC, stop order question [CANSLIM] Industry Groups redux Re: [CANSLIM] selling laggards ---------------------------------------------------------------------- Date: Wed, 19 Mar 2003 16:17:53 -0800 (PST) From: Mo Subject: Re: [CANSLIM] New NASD trading restrictions? Article mentioning Ameritrade's actions: http://www.thestreet.com/funds/ericgillin/10070477.html __________________________________________________ Do you Yahoo!? Yahoo! Platinum - Watch CBS' NCAA March Madness, live on your desktop! http://platinum.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 20 Mar 2003 14:30:59 -0600 From: michael_niemotka@baxter.com Subject: [CANSLIM] selling laggards Hello all, I know that we all try and study, and implement strong buy and sell rules for stocks in the CANSLIM system, but I was wondering how long each of you hold onto a stock that is traveling sideways after your purchase. I know we have the 7-8% loss sell rule, but what about a stock that is neither rising or falling? Do you have a timeframe maximum, ie, if I don't see a 5% rise after 6 weeks, I am going to sell? Do you set a break even sell point if it has risen a little? Do you set a tighter stop loss, say 5-6% rather than 7-8%? I am wondering about how to free up capital, without abandoning a stock that is just forming a base on base pattern. Also, I wish all of our troops overseas a safe and quick return home. Thanks, 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 - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 20 Mar 2003 16:21:50 -0500 From: "Jonathan Lobatto" Subject: Re: [CANSLIM] selling laggards Mike, In a strong market I'd be highly suspicious of a stock that didn't move for six weeks. One thing you should be monitoring is the volume during the basing period. If it's heavy volume (churning) with a bias towards the down days, I'd be tempted to jettison it. Jon - ----- Original Message ----- From: To: Sent: Thursday, March 20, 2003 3:30 PM Subject: [CANSLIM] selling laggards > Hello all, > > I know that we all try and study, and implement strong buy and sell rules > for stocks in the CANSLIM system, but I was wondering how long each of you > hold onto a stock that is traveling sideways after your purchase. > > I know we have the 7-8% loss sell rule, but what about a stock that is > neither rising or falling? > > Do you have a timeframe maximum, ie, if I don't see a 5% rise after 6 > weeks, I am going to sell? > Do you set a break even sell point if it has risen a little? > Do you set a tighter stop loss, say 5-6% rather than 7-8%? > > I am wondering about how to free up capital, without abandoning a stock > that is just forming a base on base pattern. > > Also, I wish all of our troops overseas a safe and quick return home. > > Thanks, > > 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 > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 20 Mar 2003 16:49:51 -0500 From: "Gasta, Jeff" Subject: [CANSLIM] Thank You Katherine and Ed - OVTI This message is in MIME format. Since your mail reader does not understand this format, some or all of this message may not be legible. - ------_=_NextPart_001_01C2EF2A.A299D290 Content-Type: text/plain Many thanks to Katherine and Ed for guidance on OVTI. It is my first CANSLIM purchase and I'm up about 16% in one week. Bought a small position of OVTI on 13 March at $19.95. Thanks to advice from this board, I realized I had to have a sell rule, and immediately placed a Stop Sell order at $18.40 (8% below my purchase price). Since then I changed the Stop Sell order to $20. The past few days the stock has been trading within a range from about 22.50 to 23.50. I'm sure I'm being too anxious about this, but it is temping to raise my Stop Sell price higher (perhaps to $22). I realize that by raising the sell order I risk selling the stock too soon just because of normal price swings. Advice on how I should think about this topic are appreciated. Just an FYI related to the brokerage sell rules discussion. My account is with ScottTrade. Last week I sold some stock, and then used cash from that sale to purchase OVTI about 3 minutes later, but the dollar amounts were low - - less than $1,000. Thank you every one for your excellent advice. Jeffrey Gasta Telecommunications Engineering Marriott International Voice: 301.380.6204 Fax: 301.380.8649 jeff.gasta@marriott.com This communication contains information from Marriott International, Inc. that may be confidential. Except for personal use by the intended recipient, or as expressly authorized by the sender, any person who receives this information is prohibited from disclosing, copying, distributing, and/or using it. If you have received this communication in error, please immediately delete it and all copies, and promptly notify the sender. Nothing in this communication is intended to operate as an electronic signature under applicable law. - ------_=_NextPart_001_01C2EF2A.A299D290 Content-Type: text/html

Many thanks to Katherine and Ed for guidance on OVTI.  It is my first CANSLIM purchase and I’m up about 16% in one week.

 

Bought a small position of OVTI on 13 March at $19.95.  Thanks to advice from this board, I realized I had to have a sell rule, and immediately placed a Stop Sell order at $18.40 (8% below my purchase price).    Since then I changed the Stop Sell order to $20.  The past few days the stock has been trading within a range from about 22.50 to 23.50.  I’m sure I’m being too anxious about this, but it is temping to raise my Stop Sell price higher (perhaps to $22).  I realize that by raising the sell order I risk selling the stock too soon just because of normal price swings.  Advice on how I should think about this topic are appreciated.

 

Just an FYI related to the brokerage sell rules discussion.  My account is with ScottTrade.  Last week I sold some stock, and then used cash from that sale to purchase OVTI about 3 minutes later, but the dollar amounts were low – less than $1,000.

 

Thank you every one for your excellent advice.

 

Jeffrey Gasta

Telecommunications Engineering

Marriott International

Voice:  301.380.6204

Fax:  301.380.8649

jeff.gasta@marriott.com

 

This communication contains information from Marriott International, Inc. that may be confidential. Except for personal use by the intended recipient, or as expressly authorized by the sender, any person who receives this information is prohibited from disclosing, copying, distributing, and/or using it. If you have received this communication in error, please immediately delete it and all copies, and promptly notify the sender. Nothing in this communication is intended to operate as an electronic signature under applicable law.

 

- ------_=_NextPart_001_01C2EF2A.A299D290-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 20 Mar 2003 14:22:37 -0800 (PST) From: Mo Subject: [CANSLIM] OFF TOPIC, stop order question I have had several stop orders rejected by E*Trade recently and would like to know if other brokers have the same restrictions. E*Trade requires the stop price to be: at least Ask + $0.10 for a buy order at most Bid - $0.10 for a sell order Further aggravating the situation, my rejected orders were placed after the market had closed when (according to E*Trade) the Bid and/or Ask prices are essentially undefined. Has anyone had a similar experience with other brokers? My correspondence with E*Trade follows: I tried to place a stop order on 3/19/03 at approx. 1:00 am EDT, clearly after the market had closed. The order I wanted to place was: Buy 500 PWI, STOP @ $16.98 The order was rejected so I tried a market order for the same security. The confirmation page for the order (which I canceled) showed the following for PWI: Price: $16.80 Bid: $13.12 Ask: $33.76 I assume that my stop order was rejected because it was not outside of the bid/ask price range. Where did these prices for the bid/ask come from??!! The ask price is 70% higher than the 52-week high for PWI! I experienced a similar problem the day before on an order for DAKT. The price spread was not as unbelievable as the one for PWI but my order was still rejected. E*Trade's response: The skewed Bid/Ask that you see when the market is closed is simply information that the market maker reports once the market is closed. It is not indicative of any actual Bid or Ask for that very reason. As such, it means that most stop orders have to be placed when the market is open as the orders need to be at least $0.10 above the Ask for a buy order and $0.10 below the Bid for a sell order. __________________________________________________ Do you Yahoo!? Yahoo! Platinum - Watch CBS' NCAA March Madness, live on your desktop! http://platinum.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 20 Mar 2003 17:32:42 -0500 From: "Duane Runnels" Subject: [CANSLIM] Industry Groups redux This is a multi-part message in MIME format. - ------=_NextPart_000_0025_01C2EF06.B6559720 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Thank you Gene and Katherine. Your responses were better than I expected and were a good summary from = the earlier industry group discussions and questions I followed the last = couple of weeks. - ------=_NextPart_000_0025_01C2EF06.B6559720 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Thank you Gene and=20 Katherine.
Your responses were better than = I expected=20 and were a good summary from the earlier industry group discussions and=20 questions I followed the last couple of weeks.
 
 
- ------=_NextPart_000_0025_01C2EF06.B6559720-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 20 Mar 2003 22:01:56 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] selling laggards my typical limit is about 3 months, unless I find something much more compelling and attractive. I will not usually alter my stop loss criteria, so long as it's moving sideways, unless it is tightening up the trading range considerably higher than my loss level (since I want the stop loss set at the bottom of the base). Many times, when I am getting weary of waiting for the breakout, I may sell half the position and use that money for something that is moving. - ----- Original Message ----- From: To: Sent: Thursday, March 20, 2003 3:30 PM Subject: [CANSLIM] selling laggards Hello all, I know that we all try and study, and implement strong buy and sell rules for stocks in the CANSLIM system, but I was wondering how long each of you hold onto a stock that is traveling sideways after your purchase. I know we have the 7-8% loss sell rule, but what about a stock that is neither rising or falling? Do you have a timeframe maximum, ie, if I don't see a 5% rise after 6 weeks, I am going to sell? Do you set a break even sell point if it has risen a little? Do you set a tighter stop loss, say 5-6% rather than 7-8%? I am wondering about how to free up capital, without abandoning a stock that is just forming a base on base pattern. Also, I wish all of our troops overseas a safe and quick return home. Thanks, 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 - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #3234 ****************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.