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Strategies & Market Trends : Pitbull Investing Strategies
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To: Ed Middleton who wrote (669)3/10/1998 12:05:00 PM
From: Ralph Garcia  Read Replies (1) of 789
 
Ed,

Since I use IBD as my only data source for prices and R/S I don't sell until the Monday edition is delivered. This means I will miss stocks that hit price stops like MLI. I sold that position on 1/12/98 with a loss of 12.51% with an R/S of 77. You were able to exit as the manual describes on the 6th.

The same is true for XPED which was sold in my test on the 1/19/98 @ 26.75, R/S 82, dn from 91 with a point loss of $4.18 or a % loss of 13.52%. I don't have 1/20/98 price close for XPED since IBD was not delivered.

XEL was sold on 1/26/98 @ 32.8125 for a loss of an 1/8th on an R/S stop of 74, dn from a high of 83. I don't have the date of the new R/S high. I know it was selected at 77 R/S.

You get the idea.

I also neglected to scan for OTC selections in Monday's IBD 3/9/98, which is why I only listed KDN as a sell. I was very disappointed to see CBRL on your list and you are correct it hit an R/S stop.

I would say you're accounting is more accurate as I am not willing to check for sell stops on a daily basis. I would hope that over time it would not matter-we'll see.

My subscription ends in April

I have not seen the short study itself just read comments regarding its effectiveness. I think Jeff is correct in saying that the system cannot be used without knowing which way the market trend is heading.

In general I agree with others that the system does not perform as advertised but it can be used as a filter. We just need more research on the positions PB selects.

Are you able to easily post your results on this board?

Ralph
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