Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: JB2 who wrote (1801)	7/12/1999 9:10:00 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 18137

Hi JB, The 7% rule will not work for swing trading any of the high flyers. You will just run down your capital as you are stopped out in normal intraday activity. Best, Ray

To: JB2 who wrote (1801)	7/12/1999 9:17:00 PM
From: -	Read Replies (2) \| Respond to of 18137

Yes, I studied O'Neill/CANSLIM at the beginning of my trading career, 6-7 years ago. Even took his "advanced seminar" a couple of times. He's a very knowledgable and amiable gentleman. I think he's more of a "trading Buffet" position-trading/investing kinda guy, than a stock swing-trader. His thing is to get "the perfect entry", then ride the stock like a horse for huge gains. I'm sure he's made a big fortune that way, and his mutual fund has done well. There are a lot of good principles in his book, although it's kind of convoluted to read... I sometimes recommend it to investors who are interested in learning a little bit about charts. But, not sure I'm doing them that big of favor, since the writing isn't all that clear at key points. No doubt though, CANSLIM does work for momentum investing. I agree with Ray, the 7% stocks wouldn't work for position-trading most of today's tech stocks, too much intraday volatility. -Steve