From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #185 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk X-No-Archive: yes canslim-digest Sunday, April 12 1998 Volume 02 : Number 185 In this issue: [CANSLIM] canslim Re: [CANSLIM] LBOR Re: [CANSLIM] Too Quiet Re: [CANSLIM] Re. Tom's Questions Re: [CANSLIM] ACSC (was canslim) [CANSLIM] Re: Patrick and PZZA [CANSLIM] Re: Michael and Pivot Points Re: [CANSLIM] canslim ACSC Re: [CANSLIM] Re: Michael and Pivot Points Re: [CANSLIM] chart reading 101 lesson 2 [CANSLIM] A few stocks [CANSLIM] Another comment on "M" [CANSLIM] Institutionals win, again!! Re: [CANSLIM] A few stocks [CANSLIM] Some Possibles Re: [CANSLIM] Too Quiet [CANSLIM] Best Wishes - Charts & Such [CANSLIM] wadda ya think? [CANSLIM] new member Re: [CANSLIM] wadda ya think? Re: [CANSLIM] A few stocks Re: [CANSLIM] Best Wishes - Charts & Such Re: [CANSLIM] wadda ya think? Re: [CANSLIM] A few stocks Re: [CANSLIM] Greetings Paul Cote Re: [CANSLIM] Institutionals win, again!! [CANSLIM] Re: Opinion needed. Re: [CANSLIM] new member ---------------------------------------------------------------------- Date: Sat, 11 Apr 1998 15:09:33 -0700 From: Evelyn Fedele Subject: [CANSLIM] canslim Hi, Could I please have an opinion on ACSC. Thank you and Happy Easter - Passover to All. Evelyn - - ------------------------------ Date: Sat, 11 Apr 1998 17:24:37 -0500 From: Bill Subject: Re: [CANSLIM] LBOR This looks like a falling knife to me, notwithstanding that its a CANSLIM stock. All of the technical indicators look terrible. Bill-->> - ------------------------------- At 12:01 PM -0800 4/11/98, Patrick Wahl wrote: >> From: Mulack >> Date: Sat, 11 Apr 1998 10:14:18 EDT >> To: canslim@xmission.com >> Subject: [CANSLIM] LBOR >> Reply-to: canslim@lists.xmission.com > >> Is this stock a canslim candidate? I appreciate others perspectives and >> opinions for I am trying to learn canslim as best I can. Thanks in advance >> for any replys. >> Sincerely, >> Frank >> >> >> Labor Ready (LBOR) >> >> Eps 98, >> REL 99 >> A/D: A >> 15 Mil floating shares > >Definitely a CANSLIM stock, it is pulling back towards a past >breakout point, right around 27. My limited expertise in chart >reading would say that that point should act as support. This might >be a good opportunity to enter the stock if you missed it the first >time. Volume on the recent price decline has been lower than it was >on the way up, a good sign. I would buy a point or two above where >it is now, since a price increase would be some sign that it has >stopped correcting. > >- - - ------------------------------ Date: Sat, 11 Apr 1998 19:43:12 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Too Quiet You're right, the RS would keep it off my watch list. The official WON answer you might get at a seminar is that you want a stock with an RS of 80 or better, but I do know he has put some stocks on his institutional list with RS in the low 70s, and I think there may have even been a few in the 60s. When you start making exceptions, you increase your risk. With PZZA you also have only a B for both a/d and Timeliness. The trailing PE is high at 43, altho lower on a projected basis (33) and u/d ratio at 1.7 is positive but not powerful. It's certainly harder to find both an extended (6 weeks or more) base and also a high RS, but it can be done. It gets tougher when you add in all the other CS elements as well. Tom W - -----Original Message----- From: Patrick Wahl To: canslim@lists.xmission.com Date: Saturday, April 11, 1998 3:21 PM Subject: Re: [CANSLIM] Too Quiet > From: "Tom Worley" Ok Tom, here is one for you to look at - Pappa Johns (PZZA). It came out of a long base on Thursday. 29 million shares, EPS 97, RS 67, A/D B, P/E 43, growth rate 49%. I'm not sure this is quite new, but their thing is that they make pizzas with fresh, quality ingedients, their pizza is more expensive than what you would get from Dominos (yetch), or others of that ilk, but also better tasting. I am going to anticipate your response to this one - which will be, the Relative Strength of 67 is too low to consider buying it. My question (which I don't have an answer to) is something like this - When a stock has formed a longer than usual base, it is almost certainly going to have a slightly lower than the desirable 80 or better Relative Strength number. However, we like a stock that is emerging from a base to a new high, so do we make an exception to the RS > 80 rule before buying in a case like this, where all other - - ------------------------------ Date: Wed, 8 Apr 1998 00:14:45 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Re. Tom's Questions Thanks Jan, I am already using bigcharts, altho haven't fully explored it yet. Will check out the other sites as well as soon as I can. Tom W - -----Original Message----- From: JANSI1AUG1 To: CANSLIM@xmission.com Date: Tuesday, April 07, 1998 6:09 PM Subject: [CANSLIM] Re. Tom's Questions >Tom, > > It's nice to be able to (hopefully) help you out after all the questions >I've asked of you. I use AOL, and they just refurbished the market-digest >site. They say now that it's better, but some info (like number of hi's and >lo's) has been discontinued. (It's the typical 90's definition of progress: >Anything that's new is better-even if it's worse). > > Anyway here is what I have for the types of scans that you asked for on >individual stocks. I've thrown in a couple others because I believe they'd >come in handy and be useful. > >http://www.bigcharts.com/ie/3.x/ >http://scan.iqc.com/pcquote/default.exe >http://www.rapidresearch.com/advanced.asp > > jans > >- > - - - - - - ------------------------------ Date: Sat, 11 Apr 1998 20:12:04 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] ACSC (was canslim) Way too extended, for one item. If you bot it now, and used an 8% stop on it, you would be out if it retreats and it would still be a dollar over the five week base. Note also its historic PE range is 17-31, and its at 31 right now. Also note a correction to DG Online, which indicates next earnings due 6/27. Its Q2 report should be out no later than the middle of May so as to meet reporting deadlines. I have sent them a correction on this. Tom W - -----Original Message----- From: Evelyn Fedele To: canslim@lists.xmission.com Date: Saturday, April 11, 1998 6:05 PM Subject: [CANSLIM] canslim >Hi, Could I please have an opinion on ACSC. Thank you and >Happy Easter - Passover to All. Evelyn > >- > - - ------------------------------ Date: Sat, 11 Apr 1998 17:32:45 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: Patrick and PZZA < 80 rule before buying in a case like this, where all other numbers are good, chart pattern good? If we don't make the exception, we will almost never buy a stock out of a long base, unless it formed during a period where the market was weak.>> If the market is going gangbusters and the stock goes into a protracted base, then the stock will have a few notches knocked off its relative strength belt. This isn't necessarily a bad thing. However, you do have to wonder about a stock that's in a lengthy base under these market conditions. I've noticed a couple of nice stocks in long bases lately that fell right out of them. What are similar stocks to this one doing? What's the restaurant group doing as a whole? Is the earnings report due soon? In a volatile market, bases are often a luxury. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Sat, 11 Apr 1998 17:37:58 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: Michael and Pivot Points <> Many people use pivot point and buy point interchangeably but, technically, they're not the same thing. The buy point is the point at which the stock should be bought. According to CS, that is when it's breaking out of a base of a minimum length, accompanied by volume of a minimum amount, a certain distance from a new high, yada yada. Usually. That's all in the book. The pivot point, on the other hand, is the point at which the stock changes the direction of its trend. This may be the same day as the "breakout", or it may be the day or even several days before. If you know how to draw a trendline, the change in direction is fairly easy to spot. As far as the chart goes, all you need is a price plot. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Sat, 11 Apr 1998 21:23:13 -0400 From: "Jacksons" Subject: Re: [CANSLIM] canslim ACSC I'm in acsc at 12 7/8 bot it last week. It has good numbers, small float. Been trading at High volume several times adv, making new highs. It lacks a history, though, as the company is less than two years old. Mark - -----Original Message----- From: Evelyn Fedele To: canslim@lists.xmission.com Date: Saturday, April 11, 1998 6:07 PM Subject: [CANSLIM] canslim >Hi, Could I please have an opinion on ACSC. Thank you and >Happy Easter - Passover to All. Evelyn > >- > - - ------------------------------ Date: Sun, 12 Apr 1998 10:18:04 +0000 From: Peter Christiansen Subject: Re: [CANSLIM] Re: Michael and Pivot Points Where does your definition of Pivot Point come from? In Jesse Livermore's book "How to Trade in Stocks", written in 1940, he talks about the pivot point. I believe the phrase is attributable to him. It sounds to me like he is talking about support and resistance levels, not trend changes or breaking of a trendline. I could not find any reference to "pivot point" in any of my other books on technical analysis, including what I consider to be the "bibles". At 05:37 PM 4/11/98 -0700, you wrote: >Many people use pivot point and buy point interchangeably but, >technically, they're not the same thing. The buy point is the point >at which the stock should be bought. According to CS, that is when >it's breaking out of a base of a minimum length, accompanied by volume >of a minimum amount, a certain distance from a new high, yada yada. >Usually. That's all in the book. > >The pivot point, on the other hand, is the point at which the stock >changes the direction of its trend. This may be the same day as the >"breakout", or it may be the day or even several days before. If you >know how to draw a trendline, the change in direction is fairly easy >to spot. As far as the chart goes, all you need is a price plot. Peter Christiansen Chiang Mai - Thailand - - ------------------------------ Date: Sun, 12 Apr 1998 03:25:00 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] chart reading 101 lesson 2 AACE is in another league than MINI. This one is not extended, at least, not as much. The pivot was actually just over 12 but it looks like it may advance from here. It looks more risky than you'd like, but it's less than 10% above the long cup starting with the *crash* in late October. Dan On Sat, 11 Apr 1998 16:05:18 -0700, you wrote: :OK thanks for all the responses to the mini chart so far I see we have a= little bit=20 :of varied opinion.=20 :next lesson is AACE ace cash express yall take a look and give me = another lesson.=20 :I agree that mini is in no mans land but all the canslim stuff seems to = be there :maybe it will be a high tight flag. :Cause if Joe dont know nothin I know less. : =20 : : thanks David - - ------------------------------ Date: Sat, 11 Apr 1998 22:07:15 -0800 From: "Patrick Wahl" Subject: [CANSLIM] A few stocks A quick run through Bigcharts and the DG turned up these stocks as possible candidates, anyone interested needs to do more research, but the charts at least looked interesting to me - Men Warehouse (SUIT), EPS 94, RS 77, GRS 97 Excite (XCIT) EPS 45, RS 99, A/D A, Internet stock, no earnings but fast growth rate. Staples (SPLS) EPS 93, RS 85, GRS 88, A/D A, Shares 250 mil, so not a small stock. - - ------------------------------ Date: Sun, 12 Apr 1998 07:51:17 -0400 From: "Tom Worley" Subject: [CANSLIM] Another comment on "M" While the mkt continues to sit at near record high PE levels on the S&P500 stocks, and despite serious earnings forecast cuts, it also continues to look strong. I could repeat all my economic yada yada stuff, but will simply pass along an article out of my local Miami Herald on 401 funds that hit home. It states that 401(k) fund assets have now pushed thru the $1 trillion mark for the first time ever. More than 25 million workers, at more than 250,000 companies, now have access to 401 plans, and 78% are participating (up from 62% in 1985). As of the end of March, total assets equaled $1.08 trillion, up sharply from $475 billion at the end of 1993. And a point made in the article really hit home, "It's been a very powerful force because, for the first time, people are making investments even when the market goes down" because of the very nature of payroll withholding for 401 plans. Many plans do not permit changes in amount withheld or investment strategy except, at best, on a quarterly basis. Thus these employees are "forced" into long term investing. The article goes on to indicate that there has been a shift of assets and investments to diversified equity funds (now at 33% from 11% in 1991) from "guaranteed" or stable value funds which have fallen to 18%. An addl 21% of 401 funds are in company stock, and 11% in balanced funds. The key point in this article to me is that new money will likely continue to flow into equities even in bad market conditions. I think this is also likely with those investing thru periodic additions to their mutual funds. Tom W - - ------------------------------ Date: Sun, 12 Apr 1998 08:18:22 -0400 From: "Tom Worley" Subject: [CANSLIM] Institutionals win, again!! In case you missed the news, the "circuit breakers" designed to temporarily halt trading during extremely volatile periods have been amended, effective next Wednesday. Starting then, the first halt (which now occurs at a 350 pt swing either way) will happen when the mkt (still measured on the archaic DJ 30 Industrials) moves down 10%. Lovely, it'll take a 900 pt "crash" to bring a 30 minute timeout for a sanity check!! The next circuit breaker (I don't even want to think about this one ever happening again) will no longer occur at the 550 pt level, rather it will happen at the 20% drop point (oh boy, 1800 pts in a day??) with a new third circuit breaker kicking in when the mkt drops 30% in a day (this is apparently to give you time to bend over and kiss your butt goodbye, before the missiles actually hit, since I can't envision an event ever sending the mkt down 30% in a single session otherwise0). Note that there will no longer apparently be any circuit breakers to impede market action on the way up. If you are in the habit of checking your stock prices only at the end of the day, this should give you one very powerful incentive to have hard stops in place by Wednesday. Major mkt moving news could wipe you out, the institutionals would still have liquidity, and you lose. This "brainstorm" was apparently well supported by SEC Chairman Arthur Levitt Jr, who believes that trading should be halted very rarely. Levitt has warned that early market closings "create uncertainty and potential panic for investors " (read institutionals and major wire houses, who lose liquidity). These new thresholds are described as more closely reflecting the circuit breakers' original intent of of being used only during a "severe one day market decline of 'historic proportions'". Yep, 20 or 30% in a single day would sure meet that criteria. Per the dialogue, the new limits would avoid "disrupting trading when it's not absolutely necessary". FYI, the limits being phased out would have halted trading at approximately 4% and again at 6%. For the record, the mkt has fallen 10% in a single day only twice in its history, only once over 20% (both before the new circuit breaker rules were put into effect) and only once since then have the present circuit breakers been tripped, thus the new limits are designed really to prevent any halt ever occuring, thus allowing the institutionals to do whatever they want to do. Limits of 5%, 10%, and 15% might have made some sense, but not 10, 20, and 30%. This was not done to protect the individual investor, except under the auspices and decision making and control of the institutionals and wire houses, who are after all the controlling powers of the NYSE, which proposed this change. Tom W - - ------------------------------ Date: Sun, 12 Apr 1998 08:35:06 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] A few stocks Patrick, SUIT - RS of 77 and earnings stability of 3 would bounce it off my list. XCIT - hard to argue with any internet related stock right now, at least as long as earnings reality doesn't set in, but figuring out fair valuation is tough. As if it was needed, YHOO's earnings of 8 cents (4 was expected) after the close on Wednesday has certainly "xcit'd" the group, but it's hard for me to get rational on stocks trading at mkt caps of 20 to 50 times annual revenues. SPLS - while the nr of shares outstanding, and funds at 32%, takes the "I" out of CANSLIM, looks good for the future. I have heard no further rumbles about mergers or consolidation in this group of consequence, and looks like SPLS being valued on its own merits. Tom W - -----Original Message----- From: Patrick Wahl To: canslim@lists.xmission.com Date: Sunday, April 12, 1998 1:06 AM Subject: [CANSLIM] A few stocks A quick run through Bigcharts and the DG turned up these stocks as possible candidates, anyone interested needs to do more research, but the charts at least looked interesting to me - Men Warehouse (SUIT), EPS 94, RS 77, GRS 97 Excite (XCIT) EPS 45, RS 99, A/D A, Internet stock, no earnings but fast growth rate. Staples (SPLS) EPS 93, RS 85, GRS 88, A/D A, Shares 250 mil, so not a small stock. - - - - ------------------------------ Date: Sun, 12 Apr 1998 09:17:06 -0400 From: "Tom Worley" Subject: [CANSLIM] Some Possibles Did a review of Wed's new NASDAQ highs, what caught my eye was TRAV, PXXI, and QMRK. Gotta go back and look more closely at them, wasn't all that impressed, but that was the best pickings I found. So far haven't found an accurate list of new highs from Thursday, dbc.com is wrong. As always, not a recommendation, and biased by my own personal preference of under $20, not medical or drug related, nor banks or foreign. Tom W - - ------------------------------ Date: Sun, 12 Apr 1998 13:24:43 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Too Quiet Patrick, I think your point makes perfect sense. Especially in the case of a stock with a very high EPS. The volume on Thurs. wasn't tremendous. I think it's one to watch Monday. Dan On Sat, 11 Apr 1998 12:19:53 -0800, you wrote: :> From: "Tom Worley" :> To: "CANSLIM" : :> Is everybody out hunting Easter Eggs or otherwise enjoying the :> Passover season or is the lack of new posts a result of the obvious :> problems we are having with the list server? About all I've seen for : :Ok Tom, here is one for you to look at - Pappa Johns (PZZA). It came=20 :out of a long base on Thursday. 29 million shares, EPS 97, RS 67,=20 :A/D B, P/E 43, growth rate 49%. I'm not sure this is quite new, but=20 :their thing is that they make pizzas with fresh, quality ingedients,=20 :their pizza is more expensive than what you would get from Dominos=20 :(yetch), or others of that ilk, but also better tasting. : :I am going to anticipate your response to this one - which will be,=20 :the Relative Strength of 67 is too low to consider buying it. My=20 :question (which I don't have an answer to) is something like this -=20 :When a stock has formed a longer than usual base, it is almost=20 :certainly going to have a slightly lower than the desirable 80 or=20 :better Relative Strength number. However, we like a stock that is=20 :emerging from a base to a new high, so do we make an exception to the=20 :RS > 80 rule before buying in a case like this, where all other=20 :numbers are good, chart pattern good? If we don't make the=20 :exception, we will almost never buy a stock out of a long base,=20 :unless it formed during a period where the market was weak. : :Of course, I would like to hear from anyone with an opinion on this=20 :one. : : : : : :- - - ------------------------------ Date: Sun, 12 Apr 1998 10:19:20 -0400 From: "Frank V. Wolynski" Subject: [CANSLIM] Best Wishes - Charts & Such Hi Tom, I just flew in from Las Vegas. Boy are my arms tired! Barump Bump..... Very sorry to hear about your loss and the way they handled it. Their loss. Good luck and best wishes. One of the problems I have with Big Charts is its lack of speed, therefore, try the following: http://www.equis.com/java/ms4java1024.html http://quicken.excite.com/investments/charts/?symbol=lcos&period=YTD&othersy mbols=&mavg=NONE&ImgSiz=455x250 The second site is the Intuit/Quicken site and it is handy for quick checks of news, analyst recommendations and such. Pretty quick too, pardon the pun. Best Regards, Frank Wolynski - - ------------------------------ Date: Sun, 12 Apr 1998 09:33:20 -0500 From: "Joe Scott" Subject: [CANSLIM] wadda ya think? This is a multi-part message in MIME format. - ------=_NextPart_000_0020_01BD65F6.08044660 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Hi all, How about MDLK, would that be considered a cup with handle chart, looks = to me like now would be a good time to watch for breakout from 20/21.00 = base?=20 MLT looked good to me other than the fact that the "S" is a bit high.=20 On PXXI, is 1.3 mil float enough, with average volume of 22,700? = Management sure owns a pile of it, I guess thats good right? Tom, could you find a float on QMRK=20 (average volume 8,700)=20 and any tips on how the stock of companies this small act, anything = particular to them we should be careful of? don't know a thing joe http://www.2fords.net/joe/index.html - ------=_NextPart_000_0020_01BD65F6.08044660 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Hi all,
How about MDLK, would that be considered a = cup with=20 handle chart, looks to me like now would be a good time to watch for = breakout=20 from 20/21.00 base?
MLT looked good to me other than the fact = that the=20 "S" is a bit high.
On PXXI, is 1.3 mil float enough, with = average=20 volume of 22,700? Management sure owns a pile of it, I guess thats good=20 right?
Tom, could you find a float on QMRK
(average volume 8,700)
and any tips on how the stock of companies this small act, anything = particular to them we should be careful of?
 
don't know a thing
joe
 
http://www.2fords.net/joe/in= dex.html
- ------=_NextPart_000_0020_01BD65F6.08044660-- - - ------------------------------ Date: Sun, 12 Apr 1998 11:01:01 -0400 From: Paul Cote Subject: [CANSLIM] new member Hi all! I just signed up for the listserver. My name is Paul Cote. I have little stocks investing experience but a bit of futures and futures options experience. Most recently I have become more interested in the stock market. Since I have been getting IBD for 3 years, I finally started to pay attention to what Bill O'Neill had to say in his tapes. Furthermore I just bought and have been reading the excellent investment book called "Investing Smart" by Dhun H. Sethna. In addition to the material I have just discussed, I am also quite familiar with the work of Jeff Cooper and have purchased his books. Most recently I have read Nicolas Darvas book on how he made 2 million dollars in the stock market. Finally, I wanted to mechanize canslim, so I purchased the pitbull information. Using pitbull on Monday's paper, I found only one stock in the whole paper that met the full criteria including the power index. The stock I found was Monsanto, MTC. This stock has already risen more than 10% off it's most recent base. It is at a scary place to buy. I might see if it pulls back a bit and then put a stop over the market, and if filled a stop under 53. I don't want to use a huge stop. What I learned from the Darvas book was to stop in on strenght and use a tight stop. I am not sure if MTC is a candidate for this kind of momentum trading. I would not say that MTC is a small stock, so I wonder about its potential for superior price gains. There were many stocks that were in the IBD that are real high flying screamers. The pit bull strategy filters them out because they are rising so fast, they have more than doubled in the past 52 weeks. I would be interested to hear from others if this is a logical filter. I am excited about joining this listserver and would be interested in hearing others success stories. I work as an engineer at a garbage to energy plant in Hartford CT. I would like to find a way to make money in the market place. Nice meeting you all, Paul Cote - - ------------------------------ Date: Sun, 12 Apr 1998 22:04:56 +0000 From: Peter Christiansen Subject: Re: [CANSLIM] wadda ya think? MDLK is on my list. I consider it a cup and handle formation. I like the= way the volume has dried up in the handle. I'm looking for a breakout above 21 1/2. I show a float of 1.9 mil on QMRK. At 09:33 AM 4/12/98 -0500, you wrote:=20 > > Hi all, > How about MDLK, would that be considered a cup with handle chart, looks to me > like now would be a good time to watch for breakout from 20/21.00 base?=20 > MLT looked good to me other than the fact that the "S" is a bit high.=20 > On PXXI, is 1.3 mil float enough, with average volume of 22,700?= Management > sure owns a pile of it, I guess thats good right? > Tom, could you find a float on QMRK=20 > (average volume 8,700)=20 > and any tips on how the stock of companies this small act, anything > particular to them we should be careful of? > =A0 > don't know a thing > joe > =A0 > http://www.2fords.net/joe/index.html Peter Christiansen=20 Chiang Mai - Thailand=20 - - ------------------------------ Date: Sun, 12 Apr 1998 09:42:45 -0700 From: Tim Fisher Subject: Re: [CANSLIM] A few stocks At 10:07 PM 4/11/98 -0800, you wrote: >A quick run through Bigcharts and the DG turned up these stocks as >possible candidates, anyone interested needs to do more research, but >the charts at least looked interesting to me - > >Men Warehouse (SUIT), EPS 94, RS 77, GRS 97 Had been watching them for a while, IMHO they are too sensitive to the cylical same-store sales figures and it produces that wobbly roller-coaster action that would stop me out too often. Also they flunked out of my CASLI scan and since I don't have the database at home I can't tell you why, I suspect the institutional+insider ownership got too high. Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information tfish@spiritone.com WWW http://www.spiritone.com/~tfish -- See naked fish and rocks! - - ------------------------------ Date: Sun, 12 Apr 1998 10:05:20 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Best Wishes - Charts & Such At 10:19 AM 4/12/98 -0400, you wrote: >http://quicken.excite.com/investments/charts/?symbol=lcos&period=YTD&othersy >mbols=&mavg=NONE&ImgSiz=455x250 > I've used this since I have Quicken and it's convenient but since you can't get it to plot either the 200d or the 50d EMA, it is not nearly as useful as bigcharts. If you have a Schwab account then access bigcharts through it, it links to a different address which seems to be for Schwab subscribers only (like the First Call site on Schwab) and so seems to be much faster than the "Joe Schmoe" version. Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information tfish@spiritone.com WWW http://www.spiritone.com/~tfish -- See naked fish and rocks! - - ------------------------------ Date: Sun, 12 Apr 1998 12:21:26 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] wadda ya think? > Date: Sun, 12 Apr 1998 22:04:56 +0000 > To: canslim@lists.xmission.com > MDLK is on my list. I consider it a cup and handle formation. I like the way > the volume has dried up in the handle. I'm looking for a breakout above 21 > 1/2. Chart and earnings look very good, bordering on too small for my tastes, but seems to be worth watching. I agree with your reading of the chart. - - ------------------------------ Date: Sun, 12 Apr 1998 12:21:26 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] A few stocks > From: "Tom Worley" > To: > Patrick, > SUIT - RS of 77 and earnings stability of 3 would bounce it off my > list. I think earnings stability of 3 means different things to you and me. I had to double check on it by going to DG online and checking the earnings stability numbers of a few stocks I know to be excellent in consistency of earnings (JNJ, MRK, AHP, SGP), and they all had numbers in the single digits. So to me a 3 is good, means consistent earnings, little deviation from expected numbers. What is it about a low number you don't like? - - ------------------------------ Date: Sun, 12 Apr 1998 15:44:59 -0400 From: Peter Newell Subject: Re: [CANSLIM] Greetings Paul Cote Paul, Welcome to the group. I lived in Glastonbury till I was ten. My dad worked for Pratt-Witney. Anyhow, I've been taken out of almost everything I have and am waiting to see if any more life gets breathed into the market before making more purchases. You may want to consider paper trading until after correction has occurred. It is much harder to make mistakes when the bull is resuming than in the middle and especially towards the end. Also, the best stocks take off at the start of a new bull phase. Peter Newell - ---------- > From: Paul Cote > To: canslim@xmission.com > Subject: [CANSLIM] new member > Date: Sunday, April 12, 1998 11:01 AM > > Hi all! > > I just signed up for the listserver. My name is Paul Cote. I have > little stocks investing experience but a bit of futures and futures > options experience. Most recently I have become more interested in the > stock market. Since I have been getting IBD for 3 years, I finally > started to pay attention to what Bill O'Neill had to say in his tapes. > Furthermore I just bought and have been reading the excellent investment > book called "Investing Smart" by Dhun H. Sethna. > > In addition to the material I have just discussed, I am also quite > familiar with the work of Jeff Cooper and have purchased his books. > Most recently I have read Nicolas Darvas book on how he made 2 million > dollars in the stock market. Finally, I wanted to mechanize canslim, so > I purchased the pitbull information. > > Using pitbull on Monday's paper, I found only one stock in the whole > paper that met the full criteria including the power index. The stock I > found was Monsanto, MTC. This stock has already risen more than 10% off > it's most recent base. It is at a scary place to buy. I might see if > it pulls back a bit and then put a stop over the market, and if filled a > stop under 53. I don't want to use a huge stop. What I learned from > the Darvas book was to stop in on strenght and use a tight stop. I am > not sure if MTC is a candidate for this kind of momentum trading. I > would not say that MTC is a small stock, so I wonder about its potential > for superior price gains. > > There were many stocks that were in the IBD that are real high flying > screamers. The pit bull strategy filters them out because they are > rising so fast, they have more than doubled in the past 52 weeks. I > would be interested to hear from others if this is a logical filter. > > I am excited about joining this listserver and would be interested in > hearing others success stories. > > I work as an engineer at a garbage to energy plant in Hartford CT. I > would like to find a way to make money in the market place. > > Nice meeting you all, > > Paul Cote > > - - - ------------------------------ Date: Sun, 12 Apr 1998 13:26:17 PDT From: "Charles Morgan" Subject: Re: [CANSLIM] Institutionals win, again!! There was an interesting article in Feb 1998 Worth magazine on the market circuit breakers. It was written by Jim Rogers (he is usually on CNBC's squawk Box on Fridays). He points out something I found interesting. That when the market closes for the half-hour this gives the institutions time to find out what everyone is thinking and what their customers intend to do. He uses an example of IBM. Investors are trying to get rid of their shares at $100, and the "insiders" know that the price is going to be closer to $85 a share. So when the market opens all these sell orders are going to hit the market and people become aware of the imbalance of sell orders. But the "insiders" know how far the stock is going to drop and the time they can safely begin to buy. My question is this: Won't this keep the instituitons somewhat off balance? Chuck >From: "Tom Worley" >To: "CANSLIM" >Subject: [CANSLIM] Institutionals win, again!! >Date: Sun, 12 Apr 1998 08:18:22 -0400 >Reply-To: canslim@lists.xmission.com > >In case you missed the news, the "circuit breakers" designed to >temporarily halt trading during extremely volatile periods have been >amended, effective next Wednesday. > >Starting then, the first halt (which now occurs at a 350 pt swing >either way) will happen when the mkt (still measured on the archaic DJ >30 Industrials) moves down 10%. Lovely, it'll take a 900 pt "crash" to >bring a 30 minute timeout for a sanity check!! The next circuit >breaker (I don't even want to think about this one ever happening >again) will no longer occur at the 550 pt level, rather it will happen >at the 20% drop point (oh boy, 1800 pts in a day??) with a new third >circuit breaker kicking in when the mkt drops 30% in a day (this is >apparently to give you time to bend over and kiss your butt goodbye, >before the missiles actually hit, since I can't envision an event ever >sending the mkt down 30% in a single session otherwise0). > >Note that there will no longer apparently be any circuit breakers to >impede market action on the way up. > >If you are in the habit of checking your stock prices only at the end >of the day, this should give you one very powerful incentive to have >hard stops in place by Wednesday. Major mkt moving news could wipe you >out, the institutionals would still have liquidity, and you lose. > >This "brainstorm" was apparently well supported by SEC Chairman Arthur >Levitt Jr, who believes that trading should be halted very rarely. >Levitt has warned that early market closings "create uncertainty and >potential panic for investors " (read institutionals and major wire >houses, who lose liquidity). > >These new thresholds are described as more closely reflecting the >circuit breakers' original intent of of being used only during a >"severe one day market decline of 'historic proportions'". Yep, 20 or >30% in a single day would sure meet that criteria. > >Per the dialogue, the new limits would avoid "disrupting trading when >it's not absolutely necessary". FYI, the limits being phased out would >have halted trading at approximately 4% and again at 6%. > >For the record, the mkt has fallen 10% in a single day only twice in >its history, only once over 20% (both before the new circuit breaker >rules were put into effect) and only once since then have the present >circuit breakers been tripped, thus the new limits are designed really >to prevent any halt ever occuring, thus allowing the institutionals to >do whatever they want to do. Limits of 5%, 10%, and 15% might have >made some sense, but not 10, 20, and 30%. This was not done to protect >the individual investor, except under the auspices and decision making >and control of the institutionals and wire houses, who are after all >the controlling powers of the NYSE, which proposed this change. > >Tom W > > > >- > > ______________________________________________________ Get Your Private, Free Email at http://www.hotmail.com - - ------------------------------ Date: Sun, 12 Apr 1998 20:05:20 -0300 From: "John Phuong Nicholson" Subject: [CANSLIM] Re: Opinion needed. I'm new to this group and to online investing. I've been lurking here for +- 2 months and have picked up some good tips on websites etc. Have read HTTMMS several times . The area of chart pattern recognition still seems rather subjective to me.. I would greatly appreciate any opinions on the following stocks: SYMBOL/RS/EPS/RS GRP/TIME/ACCM/NEW HUM/66/92/51/B/A/APR98 LIN/95/91/90/A/A/APR98 MBRS/94/75/97/A/B/APR98 I see cup/handle in HUM & MBRS. I'm I alone?? Opinion please. The chart pattern of LIN would seem to be a stock pickers dream as it has been continously increase for quite some time.. John Nicholson Nova Friburgo, Brazil - - ------------------------------ Date: Sun, 12 Apr 1998 19:15:41 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] new member Welcome to the group, Paul. The one book you didn't mention reading is Wm O'Neill's "How To Make Money In Stocks" (HTMMIS) which is essential if you are to understand his approach to investing (CANSLIM). MTC would fail the "I" part of CANSLIM due to the nr of shares outstanding. The year to year earnings drop in Q3, as well as the forecasted drop for 1998, would knock it off most CANSLIM lists as well. It is also already extended from the recent base nearly 10%, which would mean waiting for a pullback, as you suggest, but being sure it would then qualify as CANSLIM. Tom W - -----Original Message----- From: Paul Cote To: canslim@xmission.com Date: Sunday, April 12, 1998 10:57 AM Subject: [CANSLIM] new member >Hi all! > >I just signed up for the listserver. My name is Paul Cote. I have >little stocks investing experience but a bit of futures and futures >options experience. Most recently I have become more interested in the >stock market. Since I have been getting IBD for 3 years, I finally >started to pay attention to what Bill O'Neill had to say in his tapes. >Furthermore I just bought and have been reading the excellent investment >book called "Investing Smart" by Dhun H. Sethna. > >In addition to the material I have just discussed, I am also quite >familiar with the work of Jeff Cooper and have purchased his books. >Most recently I have read Nicolas Darvas book on how he made 2 million >dollars in the stock market. Finally, I wanted to mechanize canslim, so >I purchased the pitbull information. > >Using pitbull on Monday's paper, I found only one stock in the whole >paper that met the full criteria including the power index. The stock I >found was Monsanto, MTC. This stock has already risen more than 10% off >it's most recent base. It is at a scary place to buy. I might see if >it pulls back a bit and then put a stop over the market, and if filled a >stop under 53. I don't want to use a huge stop. What I learned from >the Darvas book was to stop in on strenght and use a tight stop. I am >not sure if MTC is a candidate for this kind of momentum trading. I >would not say that MTC is a small stock, so I wonder about its potential >for superior price gains. > >There were many stocks that were in the IBD that are real high flying >screamers. The pit bull strategy filters them out because they are >rising so fast, they have more than doubled in the past 52 weeks. I >would be interested to hear from others if this is a logical filter. > >I am excited about joining this listserver and would be interested in >hearing others success stories. > >I work as an engineer at a garbage to energy plant in Hartford CT. I >would like to find a way to make money in the market place. > >Nice meeting you all, > >Paul Cote > >- > - - ------------------------------ End of canslim-digest V2 #185 ***************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.