Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Roger Schelling who wrote (102736)	6/18/2000 9:39:00 AM
From: lee kramer	Read Replies (2) of 120523

Fine post Roger. The questions you pose are questions that all traders deal with, everyday, many times a day... at some level..whether or not they recognize it. I can't answer your question, I'm not sure there's an answer, but I'll tell you what I do. I accept the fact that I'm not gonna buy the bottom or sell the top. This means that after entering a trade I'm usually gonna feel some pain. How much pain I'm willing to take is where I put my sell-stop...keeping in mind of course trying to avoid the obvious areas where those who "gun" for stops are gonna get me. So I'll take a bit more "pain". This is "art" not science. And if say, I've got a 400 share position...I'll stagger my stops; if I bought the stock at 40 I may stop 100 at 38, 100 at 37 1/2, 100 at 37, 100 at 36 1/4. If I get stopped out of all 400 shares my "hit" is roughly 3 points. This sometimes happens, and I take the loss. Similarly, if I don't get stopped out I stagger sell on the upside. I might sell 100 at 42 1/4. Perhaps another 100 at 43 1/2. If I'm able to get these sales off I'll likely hold the remaining 200 shares if the chart still looks ok. And if it runs a bit more...I'll let them go. They may go higher still...but if I've got my trade, I generally take it. Especially in these markets. Keep in mind that I am A TRADER. If I buy at 40 and sell at an average of say 44 or 45...I am pleased...even if the stock doubles a week or a month later. The rationale; I'm pretty good at trading short-term...I rarely, again and especially in these markets, have the chutzpah to think I may know what's gonna happen a week, two or three from now. I'm not suggesting you adopt any of what I've just described...only that it's what I've been doing...both short and long...and has helped me survive and make a modest profit during the Great Bear Market of 2000. (Lee)

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