Yep. Agree. I am even less patient. Out last week @ 287.
Mike Scott <mike@???> wrote: v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} Duane,
I had FSLR and sold it when it couldnt hold the 10-day moving average. I ratchet up to an aggressive selling posture when I see leadership under attack. For me this means if a stock has been holding at the 10-day or 20-day moving average and no longer can, I dump it.
I can buy it back if conditions change.
Joe Burns teaches a valuable sell rule called: Moving Average Break-Rally Attempt-Undercut. Essentially a stock that has been holding above an average, say 20-day or 50-day, and then breaks below it and then attempts to rally and that rally fails you sell as soon as the price undercuts the lows of the time it broke below the average.
Mike Scott
Tarzana, CA
From: canslim-bounces@??? [mailto:canslim-bounces@???] On Behalf Of Duane Runnels
Sent: Thursday, May 01, 2008 1:47 PM
To: CANSLIM Stock Investment Group
Subject: Re: [CANSLIM] Rotation snap shot
7 out of 10 in the bottom 1/3 of groups.
I track earnings and buy stocks with superior earnings. Stocks with good earnings have been hammered 3 times in the last two weeks that M has had a strong green day.
Want an example? FSLR
Mike Scott <mike@???> wrote:
We wanted rotation, now we got it. I wonder if we will rotate into something else tomorrow.
Based on the moving averages everything looks comfortable. However, try to build a portfolio and it makes you want to become a day trader.
I had an office mate who was having trouble with the thermostat in his office. One day it was 85 and the next day it was 55. Being an engineer he said on the average I am quite comfortable. The major indexes are quite comfortable right now
Mike Scott
Tarzana, CA
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