From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3238 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 Friday, March 21 2003 Volume 02 : Number 3238 In this issue: RE: [CANSLIM] more breakouts Re: [CANSLIM] more breakouts RE: [CANSLIM] more breakouts Re: [CANSLIM] selling laggards Re: [CANSLIM] more breakouts RE: [CANSLIM] Thank You Katherine and Ed - OVTI ---------------------------------------------------------------------- Date: Fri, 21 Mar 2003 10:18:35 -0600 From: "Fred Richards" Subject: RE: [CANSLIM] more breakouts Perhaps, I am just an old fraidy-cat. But with the international situation being what it is, I would be cautious about any possible rally or breakout. Not saying that you can't make money on selected stocks, but rather why take the stress with the risk/reward ratios being somewhat suspect? They have already found WMD in Iraq according to recent reports and of course, you know about the scuds that Iraq doesn't have apparently being blown up by Patriot missiles. This is a very emotional market at the moment. The economics are really good and now most Wall St guru's are writing off the 1st half of 2003 and some are talking about the recovery coming in the first half of 2004. Based upon their recent track record, I suppose that eventually they will be correct. Doesn't snake eyes even occasionally come up on a roll of the dice? - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of michael_niemotka@baxter.com Sent: Friday, March 21, 2003 9:17 AM To: canslim@lists.xmission.com Subject: [CANSLIM] more breakouts All, For anyone who is using the cwhcharts.com site, today there are already 8 breakout alerts! Does this mean that M is finally taking off? I have noticed though that none of the recent ones are from the WON lists, and am wondering if that should be a reason for caution. Katherine, any comments? 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: Fri, 21 Mar 2003 23:20:52 +0700 From: Peter Christiansen Subject: Re: [CANSLIM] more breakouts Excuse me, I haven't been on this list for quite some time. What is "our site"? Is there a web site I should know about? Thank you. Katherine Malm wrote: >Hi Mike, > >For those that aren't familiar with our site methodology or terminology, the >stocks on the "WON" list are distinguished from those on other lists only by >whether or not they fit WON's strictest interpretation of a cup and handle >setup. That is, WON's strictest requirements include a pivot within 15% of >the 52 week high, a cup depth of no more than 33%, a handle droop of no more >than 15%, a non-laggard RS of at least 70, etc. However, using his more >general guidelines, a cup and handle is still valid even if it sports a bear >depth of up to 60%, a handle droop of no more than 30%, a pivot setting up >in the upper half of the base but not necessarily within 15% of the high, >etc. So, of the 12 breakouts that have triggered today, while they do not >meet the WON's most severe guidelines, they still meet his suggested >guidelines for a valid cup and handle. > >What is far more important to me is the quality of the stocks setting up as >an indicator of market health. Of the 12 that have triggered a potential >breakout today (hitting their pivot points on projected volume of at least >150%), 10 of 12 come from what I call "the green zone." That is, out of the >entire universe of stocks, they have *both* fundamental and technical scores >that rank in the upper half of the maximum possible. In fact, 4 of the 12 >are from the triple green zone (highest possible), 6 of the 12 come from the >double green zone (2nd best). That's a key marker for me, because it says >that CANSLIM quality stocks are the ones on the move rather than cyclical >and defensive stocks, which has been the norm for such a very long time. I >see this as very promising. > >Katherine > >-----Original Message----- >From: owner-canslim@lists.xmission.com >[mailto:owner-canslim@lists.xmission.com]On Behalf Of >michael_niemotka@baxter.com >Sent: Friday, March 21, 2003 9:17 AM >To: canslim@lists.xmission.com >Subject: [CANSLIM] more breakouts > > >All, > >For anyone who is using the cwhcharts.com site, today there are already 8 >breakout alerts! Does this mean that M is finally taking off? I have >noticed though that none of the recent ones are from the WON lists, and am >wondering if that should be a reason for caution. > >Katherine, any comments? > >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. > > > > - - - -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: Fri, 21 Mar 2003 10:20:15 -0600 From: michael_niemotka@baxter.com Subject: RE: [CANSLIM] more breakouts Katherine, Thanks for the clarification. I was thinking of adding it to my original e-mail, but was not sure exactly what the criteria was, so rather than send forth incorrect info, I opted to omit it. Can you expand on what you mean my a double or triple green zone? Do you mean that they have good technical merit, as well has good CANSMLIM scores, again from your site? I am really pumped about the whole thing. Also, since you sent the e-mail, you also issued an alert on VIP, which is on the WON list! 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 "Katherine Malm" To: canslim@lists.xmission.com Sent by: cc: owner-canslim@lists.xm Subject: RE: [CANSLIM] more breakouts ission.com 03/21/2003 10:10 AM Please respond to canslim Hi Mike, For those that aren't familiar with our site methodology or terminology, the stocks on the "WON" list are distinguished from those on other lists only by whether or not they fit WON's strictest interpretation of a cup and handle setup. That is, WON's strictest requirements include a pivot within 15% of the 52 week high, a cup depth of no more than 33%, a handle droop of no more than 15%, a non-laggard RS of at least 70, etc. However, using his more general guidelines, a cup and handle is still valid even if it sports a bear depth of up to 60%, a handle droop of no more than 30%, a pivot setting up in the upper half of the base but not necessarily within 15% of the high, etc. So, of the 12 breakouts that have triggered today, while they do not meet the WON's most severe guidelines, they still meet his suggested guidelines for a valid cup and handle. What is far more important to me is the quality of the stocks setting up as an indicator of market health. Of the 12 that have triggered a potential breakout today (hitting their pivot points on projected volume of at least 150%), 10 of 12 come from what I call "the green zone." That is, out of the entire universe of stocks, they have *both* fundamental and technical scores that rank in the upper half of the maximum possible. In fact, 4 of the 12 are from the triple green zone (highest possible), 6 of the 12 come from the double green zone (2nd best). That's a key marker for me, because it says that CANSLIM quality stocks are the ones on the move rather than cyclical and defensive stocks, which has been the norm for such a very long time. I see this as very promising. Katherine - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of michael_niemotka@baxter.com Sent: Friday, March 21, 2003 9:17 AM To: canslim@lists.xmission.com Subject: [CANSLIM] more breakouts All, For anyone who is using the cwhcharts.com site, today there are already 8 breakout alerts! Does this mean that M is finally taking off? I have noticed though that none of the recent ones are from the WON lists, and am wondering if that should be a reason for caution. Katherine, any comments? 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. - - - -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: Fri, 21 Mar 2003 08:26:11 -0800 From: "NANCY POLCARO" Subject: Re: [CANSLIM] selling laggards - ------=_NextPart_001_0000_01C2EF83.87F30480 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable I see, thanks for taking the time Tom-Nancy - ----- Original Message ----- From: Tom Worley Sent: Friday, March 21, 2003 3:05 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] selling laggards Hi Nancy, Stock is moving sideways, so picture a flat base heading east (one of my = favorite chart patterns). If, when I bought it, the base (or handle) had = a $4 up/down range between $20 and $24, my stop loss would be set around = 19.75 or so, just under the base. If several months passed, and it was st= ill heading east, but now only trading between $22 and $24, I probably wo= uld raise my stop loss to $21.80 or so. - ----- Original Message ----- =20 From: NANCY POLCARO =20 To: canslim =20 Sent: Friday, March 21, 2003 12:05 AM Subject: Re: [CANSLIM] selling laggards Tom can you explain what you mean by tightening up the trading range high= er then my stop loss level. Cant picture-is there a chart or something t= o explain? Thanks nancy - ----- Original Message ----- From: Tom Worley Sent: Thursday, March 20, 2003 7:04 PM To: canslim@lists.xmission.com 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 se= ll 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 yo= u 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. - ------=_NextPart_001_0000_01C2EF83.87F30480 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
I see, thanks for taking the time Tom-Nan= cy
 
----- Original Message -----
<= B>From: Tom Worley
Sent:= Friday, March 21, 2003 3:05 AM
= To: canslim@lists.xmission.com
= Subject: Re: [CANSLIM] selling laggards
 
=
Hi Nancy,
 
Stock= is moving sideways, so picture a flat base heading east (one of my favor= ite chart patterns). If, when I bought it, the base (or handle) had a $4 = up/down range between $20 and $24, my stop loss would be set around 19.75= or so, just under the base. If several months passed, and it was still h= eading east, but now only trading between $22 and $24, I probably would r= aise my stop loss to $21.80 or so.
 
----- Original Message -----
T= o: canslim
Sent: Friday, March 21, 200= 3 12:05 AM
Subject: Re: [CANSLIM] selling laggards

Tom can you explain what you mean by tighten= ing up the trading range higher then my stop loss level.  Cant pictu= re-is there a chart or something to explain? Thanks nancy
&nbs= p;
----- Original Message -----
From: Tom Wo= rley
Sent: Thursday, March 2= 0, 2003 7:04 PM
=
Subject: Re: [CANSLIM] selling lag= gards
 
my typical limit is about 3 months, unless I= find something much more
compelling and attractive. I will not usuall= y alter my stop loss criteria,
so long as it's moving sideways, unless= it is tightening up the trading
range considerably higher than my los= s 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 m= ay sell
half the position and use that money for something that is mov= ing.

----- Original Message -----
From: <michael_niemotka@ba= xter.com>
To: <canslim@lists.xmission.com>
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 wonder= ing 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 w= hat about a stock that is
neither rising or falling?

Do you hav= e a timeframe maximum, ie, if I don't see a 5% rise after 6
weeks, I a= m 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 sto= ck
that is just forming a base on base pattern.

Also, I wish al= l of our troops overseas a safe and quick return home.

Thanks,
=
Mike


Mike Niemotka , PE
Sr. Principal Engineer
Baxte= r Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL= 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@ba= xter.com



-
-To subscribe/unsubscribe, email "majordomo@= xmission.com"
-In the email body, write "subscribe canslim" or
-"un= subscribe canslim".  Do not use quotes in your email.


-
-To subscribe/unsubscribe, email "majordomo@xmission.com"
-In th= e email body, write "subscribe canslim" or
-"unsubscribe canslim".&nbs= p; Do not use quotes in your email.
<= /HTML> - ------=_NextPart_001_0000_01C2EF83.87F30480-- - - - -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: Fri, 21 Mar 2003 10:41:57 -0600 From: michael_niemotka@baxter.com Subject: Re: [CANSLIM] more breakouts Peter, I'm sorry that in my original post I was not more specific, but cwhcharts.com is a site that is owned and operated by Katherine Malm and Mike Gibbons, who have been contributors to this list for a long time. Each day they use a computer algorithm to select stocks setting up in cup with handle patterns and then intraday automatically send out email alerts if a stock hits its pivot point on projected volume of at least 150% of average daily volume. In a healthy market, you see many quality stocks breaking out of sound patterns, so I was commenting on the higher volume of e-mail alerts that have happened over the last few days. I have NO financial interest in this site, but would encourage anyone on the list to check it out, because it has a wealth of knowledge about CANSLIM for free, and also offers a free trial. In addition, because they are list members, Mike and Katherine have given limited access to the members of the list for certain areas of the site. 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 "Peter Christiansen" cc: Sent by: Subject: Re: [CANSLIM] more breakouts owner-canslim@lists.xm ission.com 03/21/2003 10:20 AM Please respond to canslim Excuse me, I haven't been on this list for quite some time. What is "our site"? Is there a web site I should know about? Thank you. Katherine Malm wrote: >Hi Mike, > >For those that aren't familiar with our site methodology or terminology, the >stocks on the "WON" list are distinguished from those on other lists only by >whether or not they fit WON's strictest interpretation of a cup and handle >setup. That is, WON's strictest requirements include a pivot within 15% of >the 52 week high, a cup depth of no more than 33%, a handle droop of no more >than 15%, a non-laggard RS of at least 70, etc. However, using his more >general guidelines, a cup and handle is still valid even if it sports a bear >depth of up to 60%, a handle droop of no more than 30%, a pivot setting up >in the upper half of the base but not necessarily within 15% of the high, >etc. So, of the 12 breakouts that have triggered today, while they do not >meet the WON's most severe guidelines, they still meet his suggested >guidelines for a valid cup and handle. > >What is far more important to me is the quality of the stocks setting up as >an indicator of market health. Of the 12 that have triggered a potential >breakout today (hitting their pivot points on projected volume of at least >150%), 10 of 12 come from what I call "the green zone." That is, out of the >entire universe of stocks, they have *both* fundamental and technical scores >that rank in the upper half of the maximum possible. In fact, 4 of the 12 >are from the triple green zone (highest possible), 6 of the 12 come from the >double green zone (2nd best). That's a key marker for me, because it says >that CANSLIM quality stocks are the ones on the move rather than cyclical >and defensive stocks, which has been the norm for such a very long time. I >see this as very promising. > >Katherine > >-----Original Message----- >From: owner-canslim@lists.xmission.com >[mailto:owner-canslim@lists.xmission.com]On Behalf Of >michael_niemotka@baxter.com >Sent: Friday, March 21, 2003 9:17 AM >To: canslim@lists.xmission.com >Subject: [CANSLIM] more breakouts > > >All, > >For anyone who is using the cwhcharts.com site, today there are already 8 >breakout alerts! Does this mean that M is finally taking off? I have >noticed though that none of the recent ones are from the WON lists, and am >wondering if that should be a reason for caution. > >Katherine, any comments? > >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. > > > > - - - -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: Fri, 21 Mar 2003 11:41:48 -0500 From: "Gasta, Jeff" Subject: RE: [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_01C2EFC8.83813B5C Content-Type: text/plain Tom, thanks a million for your great 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. - -----Original Message----- From: Tom Worley [mailto:stkguru@bellsouth.net] Sent: Thursday, March 20, 2003 10:05 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Thank You Katherine and Ed - OVTI Jeffrey, the normal procedure I use is to leave the stop loss unchanged until I am up at least 15%. At that point, I raise my limit to my original entry point (or average price if multiple purchases). After that, I try to use a trailing stop 15% below the prior day (sometimes the closing price, sometimes the intraday high, depends on the chart, stock, fundies, how badly I want to take profits, etc.) Of course, once raised, the stop loss should NEVER be lowered. - ----- Original Message ----- From: Gasta, Jeff To: canslim@lists.xmission.com Sent: Thursday, March 20, 2003 4:49 PM Subject: [CANSLIM] Thank You Katherine and Ed - OVTI 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_01C2EFC8.83813B5C Content-Type: text/html

Tom, thanks a million for your great 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.

 

-----Original Message-----
From: Tom Worley [mailto:stkguru@bellsouth.net]
Sent: Thursday, March 20, 2003 10:05 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Thank You Katherine and Ed - OVTI

 

Jeffrey, the normal procedure I use is to leave the stop loss unchanged until I am up at least 15%. At that point, I raise my limit to my original entry point (or average price if multiple purchases). After that, I try to use a trailing stop 15% below the prior day (sometimes the closing price, sometimes the intraday high, depends on the chart, stock, fundies, how badly I want to take profits, etc.)

 

Of course, once raised, the stop loss should NEVER be lowered.

 

----- Original Message -----

From: Gasta, Jeff

Sent: Thursday, March 20, 2003 4:49 PM

Subject: [CANSLIM] Thank You Katherine and Ed - OVTI

 

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_01C2EFC8.83813B5C-- - - - -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 #3238 ****************************** 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.