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Jim,
You are not making a mistake. You are absolutely right if you are
still using the ITUTC for your stop. There is nothing wrong with that.
However, I switched my stop to under the Short Term Up Trend Channel
(STUTC) using a standard deviation channel with the deviation set at 2
after NBTY peaked on Sep 22, pulled back to a low on Sep 29, and started up
again. When and if to switch to the STUTC is purely a subjective call
after one thinks the channel is established well enough. I may or may not
have made a mistake by switching, time will tell <G>.
Any way, at this point NBTY hasn't done much in three weeks and I'm
ready to give CRUS a try instead.
Jim
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> From: J.F. DeWilder <jdewilder10151@xxxxxxxxxxxxxx>
> To: Jim Greening <JimGinVA@xxxxxxxxxxxxx>
> Subject: Re: Weekly Pick
> Date: Sunday, October 05, 1997 12:11 AM
>
> > NBTY Inc closed below my stop Friday so I'll close my position
Monday.
> > Hi Jim,
>
> I have a question. I also hold NBTY. In your posting of 12 Sep 97, when
> you first selected NBTY, you stated that you would stop out just under
> the bottom of the ITUTC which at that time was 18.75. I still have NBTY
> in the ITUTC at 21 and the bottom of the ITUTC is approximately 20.
> Consequently, from what I have tried to learn, we should still hold the
> stock. I know I am making a mistake but I will be darned if I can figure
> out where. If you could educate me once again, I will be very
> appreciative.
>
> Thanks once more,
>
> Jim
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