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Ken's Mail Bag 11/05/09 - Conditional Orders & Screening Criteria
Kenneth J. Gruneisen, Founder and Contributing Writer, www.CANSLIM.net
CANSLIM.net


 
Subscriber Questions:

November 2, 2009

Ken,

Due to work reasons, I cannot trade during the day.  Is there an online trading service that will accept a buy order under the following conditions:  a buy order, placed in advance, which will buy a stock at its pivot point or higher within its proper buy range and only if it hits its +50% above average volume threshold?  It seems the appropriate buy order is a stop order that once the stock price reaches or surpasses the pivot point the stop order becomes a market order.

How do stocks qualify for your leaders list of high ranked stocks?  Most stocks shown in the second section of Today's Breakout Screen do not qualify/fundamentals are below the CANSLIM investment guidelines.  I am confused.  Please comment.  Thank you!.

Gil

 
Ken's Response:

 November 4, 2009

Dear Gil,

I do not have any specific recommendations I can give, as I am not aware of any firms offering to accept and execute conditional orders of that nature - "buy stop" orders based on a combination of both price and volume.  I believe there may likely be a few trading system software packages available that are designed to work in conjunction with certain online trading firms' platforms. In such cases, one would need to have their account held at a compatible brokerage firm, and then pay additional fees for add-on software/services including a real-time data feed.  Then, after learning how to configure it to work with your brokerage account and getting familiar with how to actually use it, you would need to leave it up and running all day on a computer so that it would (hopefully) work as desired. There could be several pitfalls to that approach, and costs might be viewed as high by some, however that depends on the investment amount at stake.
 
Concerning your other question on how stocks qualify for the Leaders List of high-ranked stocks, the list has been updated for the past 13 years using a fairly simple mechanical export of stocks ranked 80+ for Earnings Per Share and Relative Strength as a starting point, then we trim that list down by removing certain thinly traded stocks and those that are greatly off their 52-week highs percentage-wise even though they have high RS ranks. 
 
We believe the companies in the lower portion of the mid-day report are not as worthy of action as the issues specifically listed on the top portion of the report (which may be color coded yellow or green).  When there are no stocks in the top portion, you should not be confused. As you have observed, stocks shown in the second section of Today's Breakout Screen are specifically noted because their fundamentals or their technicals are below the investment system guidelines.  Many members find value in the notes our experts provide on these issues so they can become more aware of what to look for and what to look out for in their day-to-day investing. 
 
If you have any other questions or concerns related to CANSLIM.net services please do not hesitate to contact me directly or write in using the inquiry form again
.

Sincerely,

Kenneth J. Gruneisen
Founder & Contributing Writer for CANSLIM.net
www.canslim.net

 

About Kenneth J. Gruneisen, Founder and Contributing Writer, www.CANSLIM.net :
Kenneth J. Gruneisen has successfully completed the CAN SLIM® Certification Program.  Mr. Gruneisen became a Registered Representative in 1987 and his career includes experience offering personalized assistance to investors with more than a decade of experience as a Registered Principal managing a branch office.

The recommendations made by CAN SLIM® certified individuals are their own and may not be attributed to the CAN SLIM® Certification Program, William O'Neil & Co., Investor's Business Daily or their affiliates. The CAN SLIM® Certification indicates only that the individual has successfully completed the CAN SLIM® Certification Program. CAN SLIM®, William O'Neil & Co., Investor's Business Daily and any of their affiliates are in no way responsible for any loss or damage caused as a result of the services provided by these individuals.


Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.

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The recommendations made by CAN SLIM® Certified individuals are their own and may not be attributed to the CAN SLIM® Certification Program, William O'Neil + Co., Investor's Business Daily or their affiliates. The CAN SLIM® Certification indicates only that the individual has successfully completed the CAN SLIM® Certification Program. CAN SLIM®, William O'Neil + Co., Investor's Business Daily and any of their affiliates are in no way responsible for any loss or damage caused as a result of the services provided by these individuals.

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