Re: [CANSLIM] Intro: Hugh Fader

From: Hugh Fader <hfader@hotpop.com>
Subject: Re: [CANSLIM] Intro: Hugh Fader
Date: Sun, 30 May 1999 13:23:04 -0400

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Tom,

Yes, we have had a real spring here and are now getting an early
taste of summer.

I recently tried buying FDS in anticipation of a breakout and was
stopped out. Below was my assessment on 5/18 when I decided to
buy. I would be interested in any comments on my reasoning and
why this may have not been such a good buy.

- -----
Thinking seriously about buying FDS in anticipation of a
breakout. It is currently at 46.88 on the handle of a perfect CWH
with low volume, 13% off its high of 54 and just above the 50 MA
of 45. It has tested the 50 MA twice in the past 6 weeks.

Current: Up 42%
Annual:  47% growth rate
New: nothing except exceptional earnings. Anticipating a new high
on breakout.
Supply: 15M shares 39% held by mgt
Leadership:  GRS 80, Comml Services Misc ranked 42nd down from
25th three months ago
Institutional: 21% held by funds
Market: Some jitters due to FOMC meeting. Markets down slightly
on slightly higher volume today.

I will buy 1/3 of a position tomorrow and sell if it falls below
the 50 MA. Will buy 1/3 more on a breakout and 1/3 more on a
pullback.
- ----

Tom Worley wrote:

> Hi Hugh,
>
> First, welcome to the group and thanks for the intro. I
> imagine summer is finally starting to arrive in your area (I
> spent four years in The Soo, where there were only two
> seasons: winter and the 4th of July).
>
> Trying to get the entry point exact, or even close, is very
> difficult if you have a day job. On the ones where I
> succeeded, it occurred by looking at the chart that morning
> and making a buy decision; then entering a limit buy order.
> If I could be sure of the time to monitor trading during the
> day, I would not use limit orders nor enter an order prior
> to 9:45 or so, but that's no longer an option the way my job
> is going.
>
> Because I am only trading small cap stocks, which tend to be
> both volatile and relatively thinly traded, I have also
> resorted to buying while still in the base, and gambling on
> an eventual breakout. At least then I can set a downside
> stop which is also relative to the base as well as my entry
> point.
>
> I still miss more than I catch, but that's OK, there's
> always another one waiting in the wings.
>
> Tom Worley
> stkguru@netside.net
> chat with me at ICQ # 5568838
> get ICQ software at http://www.icq.com/icqhomepage.html
>
> -----Original Message-----
> From: Hugh Fader <hfader@hotpop.com>
> To: canslim@xmission.com <canslim@xmission.com>
> Date: Sunday, May 30, 1999 10:30 AM
> Subject: [CANSLIM] Intro: Hugh Fader
>
> Hello,
>
> I am Hugh Fader, a 40-year-old computer engineer from Royal
> Oak,
> MI. I have been "lurking" for several months reading the
> digests
> of this group and have learned a lot. I now want to become
> more
> active in the group.
>
> I have been using CANSLIM to invest since last fall with
> moderate
> success. One of the biggest problems I have is hitting the
> entry
> point correctly on a buy. It seems almost impossible to do
> this
> consistently without monitoring your watchlist
> minute-by-minute.
> I am interested in learning more about how people with day
> jobs
> handle this.
>
> Looking forward to getting to know you all better.
>
> Hugh
>
> -
>
> -


- -

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