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Strategies & Market Trends : Pitbull Investing Strategies
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To: John Langston who wrote (132)6/10/1997 3:42:00 AM
From: Ralph Garcia   of 789
 
John,

I don't know for sure if there is any advantage to a daily scan. I do know that many CANSLIM type candidates can move above my 8% limit in a day much less a week. I hope to capture some of those rockets by scanning each day and get rid of the laggards. Its just soooo time consuming to adhere to all the sell criteria. And that was what Mr. Ford sought to achieve by scanning once a week.

As for sales I am able to use the R/S < 70 only a few times a week and a decline of 5 R/S points even less. The 10% absolute decline from purchase is easier to track and apply.

I still have 16% of the portfolio in cash and I'm behind in my selections. Still a gain of almost 5% for the month was not bad. It about equaled a similar test in November of 96.

I see HKT has moved higher via a sale by Cable & Wireless to a mainland Chinese company. Still, I agree with your earlier comment about HKT being extended.

Ralph
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