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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: tekboy who wrote (25606)5/31/2000 4:29:00 PM
From: Jacob Snyder  Read Replies (1) of 54805
 
OT re LEAPs/limit orders/sensitivity/specificity:

I usually place limit orders for stocks (and always for options), buying in increments. It can take me 6 months to slowly accumulate a position. I'll decide on a buy-in price, and then make purchases once a month, or every time the stock dips 10%, until I run out of cash or the stock gets above my buy-price. Sometimes, I'll sell the rallies, in an attempt to get a lower average cost on my shares. My eventual return is determined equally by a low buy-in price and a high selling price. I expect that, more than half the time, a stock will never reach my buy-price, and/or I won't be holding a full position as it runs up. That's OK, as long as the few I buy are at great prices. To put it in statistician's terms: my selection process (picking the stock and the buy-price) sacrifices sensitivity in order to achieve excellent specificity.
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