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Buying Right Helps You Stay In.(MAKING MONEY)(INVESTOR'S CORNER)
Byline: JONAH KERI
What's the best way to minimize investment risk? Always sell a stock if it falls 7% to 8% from your buy price.
Another trading rule can help you minimize risk and maximize potential returns: buying right. This means buying a stock as close as possible to its pivot point.
In a healthy base, a stock will in most cases form a downward-sloping handle. The pivot point is 10 cents above the top of that handle. In a double-bottom base, it's 0.10 above the midpoint in its W shape.
Why all the fuss over what may be a buck or two a share, or even a few cents for a lower-priced stock? Four out of every 10 leading stocks return near or to their pivot point after breaking out. Some may even dip slightly below the pivot before bouncing back.
For every cent you stray from the pivot, you're increasing your chances of getting shaken out of a potential big winner during a normal correction. Buy a stock more than 5% above its pivot and the chances for a shakeout increase. And if the stock you buy turns into a dog, a late buy could quickly turn into a nasty loss.
How can you best time your buys? Do your research in advance. Screen for stocks with high Earnings Per Share, Relative Price Strength and other ratings setting up in strong bases. Many trading services will let you set ...
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