Hi Jan,
Thanks for such a complete analysis. You're right, I am terrible at picking stocks with any likelihood of appreciating in value (I rather fancy myself a philanthropist).
I sold INPR because the double bottom break scared me out. To my VERY untrained eyes, there was no difference between INPR and ECCS (I bought it before the second double bottom break). I merely saw two stocks near their stop points, so I was willing to risk half a point. Same thing with PANL and TOPP. Based on my understanding of the charts, all were equally likely to rise or fall. It was a crapshoot for me. I must say I was pretty surprised that PANL and TOPP fell, but I don't understand why I should have given INPR a looser stop but not PANL. Both have positive RS and are above their support line. So it would appear to me that I erred with both. PANL fell right to previous support (which is rather far for my liking) and bounced up. Where would you have put the stop for INPR and why? Why wouldn't you have entered ECCS at all? These are things I haven't learned yet, and contribute to my dismal win/loss ratio. I must say, though, that P&F limits my losses to a tiny fraction of what they would have been.
Also, if you wouldn't mind, how would you handle CPQ? I've been in since 19 and have a stop at 26 (I admit it, I bought it largely because Tom had recommended it as one of the stocks most likely to double in a year). But I'm not sure if I'm playing it too conservatively. Problem is, if I remove the stop, where would I put it if things go wrong?
Thanks a lot for the help. I really appreciate it.
Paul |
