Thank you for writing in with two great questions which dwell on the very challenging task of determining when to lock in a profit and when to accumulate more shares in an already held position.
They do not teach any rules in the Certification that aim to calculate and account for a specific stock's volatility as you are suggesting. In cases where you already have bought a stock properly and you have a profit cushion, your bias should be usually lean more toward giving it the benefit of the doubt and perhaps accumulating more shares. Market action overall (the M criteria) should weigh greatly on the decision-making process though, since 3 out of 4 stocks will tend to go along with the general direction of the major averages.
Remain concerned and focused primarily on the technical chart (price/volume) action, and you may consider multiple distribution days (damaging down days with volume higher than the prior session volume total) in a short span as a technical sell signal even if there are not any specific trendlines or moving averages being violated.
If a secondary buy point develops or a new technical breakout occurs from a sound base then you sometimes might be wise to add to an existing position in a stock. In the Certification they teach that you should already have a substantial profit in the stock, not a marginal profit, and you must be very careful to not substantially average your cost up with later purchases. For example, assuming you bought 1,000 shares of a stock earlier, if it eventually triggers another new buy signal you might buy 500 shares at the higher price. Always sell all of the shares bought at the higher price if it falls -7% from that higher purchase price (not the averaged price), if not additionally selling some or all of the shares you owned at a lower price. Do not try to be counter-intuitive or move contrary to the market by bargain hunting for buys. The technical action should always dictate how seriously you react, so you should hurry out of it if the technical action is poor, and you should pile into it if the technical action is strong. Historic studies have proven that investors odds are best when buying stocks that are on the rise, rather than buying stocks that are pulling back.
If you are ever not sure what to do we would urge you to err on the side of caution. Prior reports noted an earlier pivot point and specifically did not yet cite a new pivot point based on RGR's high on 5/01/12, or based on its 11/30/12 high. Note that prices cited in our reports and via other sources may be noted and adjusted in the near-term to account for the Special Dividend, so you may note that data such as 52-week high and even the Featured Price, Pivot Point, and Max Buy levels cited in our reports may be noted and adjusted in the near-term. Suffice it to say that unless you subsequently see a powerful rally into new high territory, it is very hard to argue that it has the bullish look of institutional accumulation or the beginning of another substantial leg up in price.
CANSLIM.net is not an investment adviser and we cannot give members specific recommendations on what to do with any stock at any given time. We can discuss the fact-based system and clarify whether a stock has met the criteria, and we can analyze the technical action as buy signals and sell signals according to the investment system's guidelines to help our members understand what has happened and hopefully know what to do. Please see our site's Terms & Conditions page for additional legal information. (
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Hopefully this answer will be somewhat helpful to you. If you need additional clarification of anything please feel free to contact me directly as I will be glad to assist you.
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