From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #192 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 Friday, April 17 1998 Volume 02 : Number 192 In this issue: Re: [CANSLIM] MF sometimes inverted? [CANSLIM] YHOO and AMZN (was Results of Earnings/Momentum Screen) Re: [CANSLIM] YHOO and AMZN (was Results of Earnings/Momentum Screen) Re: [CANSLIM] Results of Earnings/Momentum Screen Re: [CANSLIM] Results of Earnings/Momentum Screen Re: [CANSLIM] online firms Re: [CANSLIM] YHOO and AMZN (was Results of Earnings/Momentum Screen) Re: [CANSLIM] TMBS earnings Re: [CANSLIM] online firms -- Datek Re: [CANSLIM] online firms -- Datek [CANSLIM] Where can I find intraday charts? Re: [CANSLIM] online firms -- Datek Re: [CANSLIM] online firms -- Datek Re: [CANSLIM] online firms -- Datek Re: [CANSLIM] Where can I find intraday charts? Re: [CANSLIM] online firms -- Datek [CANSLIM] My watch list Re: [CANSLIM] Where can I find intraday charts? Re: [CANSLIM] real time quotes -- Datek Re: [CANSLIM] Spreads (was Results of Earnings/Momentum Screen) Re: [CANSLIM] Results of Earnings/Momentum Screen Re: [CANSLIM] online firms -- Datek [CANSLIM] HYSW [CANSLIM] CANSLIM? Re: [CANSLIM] Market Data: Re: [CANSLIM] TMBS earnings [CANSLIM] Re:NSIT & OBV/MF ---------------------------------------------------------------------- Date: Thu, 16 Apr 1998 21:41:19 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] MF sometimes inverted? Debbie-- I'm looking at the 1-day hourly chart on ALDA. I do see the big jump in price at about 10:45 and see a quite modest rise in the MF. At 11:00, I see that the MF drops on a very small drop in price. That decline in the MF--of about 3.6 million [minus]--runs the remainder of the day while the stock rises a bit. I have no opinion about the calculation of the MF and BC does not give its formula. I believe you are asking how the MF can recede while the stock is rising. I have posted in the past a few ideas about how the divergence takes place. The reasons are complex and there is something non-sensical about the divergence. I'm sorry that I don't have that earlier post[s]. What you can see is that the MF decline did not take place on the price uptick but rather on the slight price decline in the next 15 minutes. These divergent events did not take place simultaneously and are, therefore, less illogical. Too, the 3-line EMA acted as if the MF decline never occurred. Generally, you might assume that the price jump cleaned out a lot of overhead and the price was thereafter for the day controlled by less volume. I would not read anything ominous about this one day event, but I would watch closely what the stock does the next two days, especially what the OBV does. Today the OBV does pick up at the close. It is the possibility of divergence--something like the action of eccentric cams--that makes the OBV/MF indicator valuable. Stocks will act as if they are abiding by a non-eccentric cam [track price] and then one day they abide eccentrically. On longer charts, it is not surprising to see this switching of gears. If the OBV continues to rise while the MF does not, it may mean that the stock is switching gears. From the switch point, you may see that the price and the MF are re-geared and now this new gearing of the MF and price will begin to track each other. It may mean that, from the switching time, less money will move the price. The OBV may undergo the same re-gearing. If you will pull up the Volume Accumulation indicator, you can see that there was both an up spike and a shallower one down. Then the indicator flattened, as if nothing ever happened. Pull up the Volume+ indicator. See that spike after 11:00. Now that's a spike, but the price barely responds. While here, notice that it is not unusual to see green pegs under red prices [stock declining]. This is but another instance of how up volume can occur on a price down tick; and, of course, the reverse is not uncommon. If you have a Time & Sales record, you could see that the huge spike in the Volume+ indicator is largely deceiving. I.e., at 10:43 a 23,000 share block went through at 7 5/16. Look at the Volume+ indicator. The green peg under the huge jump in price is but a third as long as the red peg after 11:00. Just eye-balling my Time & Sales screen, I think that the large red peg exaggerates the volume that passed from 11:00 to 11:15 as compared to the time frame under the green peg at 10:45. If we're to infer significance between the length of the green peg and the red, we might therefor conclude that the negative volume of the red peg, because it so little affected price, bodes well for the stock in the very short term--and emphasize short term. As an aside, the 3/7/10 EMA would have got an investor in early in March and would not have come close to giving a sell right up to yesterday. What a nice, uneventful ride. Thanks for the mail. Connie Mack Debby Howard wrote: > I'm coming out of lurk mode with a question (intro later!) This is > addressed to Connie Mack Rae in particular on the MF indicator, > but to everyone, many thanks for your informative and helpful > posts, this is a great list. > > Check out Aldila (ALDA) which is having a price breakout today. > Pulling up a Bigcharts today's intraday chart with MF, at 10:00 there > is a large price spike up towards $8 and continues up, and yet the > moneyflow indicator spikes *down* and stays down for the rest of > the day. Do you think this divergence has to do with the formula by > which MF is calculated, or could it be a warning sign? > > This isn't the first time I've noticed MF going down when it looks > like it should be going up. (I've mostly observed this on longer > term charts, not intraday charts--but then I have much less > experience with intraday charts.) Maybe in about 5% of the charts > where it looks like money is flowing into the stock (i.e. price is > going up and so is OBV), a rising OBV is tracked by an almost > mirror-image dramatic trend to the negative in MF. When the > indicator is off, it's off dramatically. This, and the fact that the > trend is a mirror image, makes me think (1) there is an occasional > problem in the formula; or (2) there is something "different" about > the stock. > > Another example is PAMM, which did very well in 1997 but for most of > the year showed negative moneyflow, which is just not true. There are > others and I made a list. So when I see that, I just ignore the > moneyflow indicator for that stock! > > If you like, I will dig out the other examples. But because of what > I saw today with ALDA, I had to get on the list today and ask! > > This makes me wonder if the MF indicator can be off in other > more subtle ways, or may account for the instances where you feel > that an indicator is "lying." Have you noticed this with MF? > > I'm using a MF indicator very close to the one in Bigcharts. I > use both actually. In QuotesPlus 1.1, the Chaikin Cumulative > MoneyFlow formula tracks very closely if not exactly the MF in > Bigcharts (and, this anomaly I'm talking about usually appears in > both). > > Just yesterday, I was reading that when a stock is thinly-traded and > has a huge bid-ask spread (PAMM is thinly traded and sometimes has a > spread as large as 1.5!), this can throw off certain indicator > formulas. Now, the Chaikin moneyflow formula uses the highs, lows, > and close for the day. These prices may behave substantially > differently for such a stock as PAMM because of the behavior of > market makers, something which still eludes me . (Does this make > sense?) I will now want to check on the other example stocks and see > if they are like PAMM, or what else they might have in common. > > But, how would ALDA's spike up at 10:00 vs. negative MF be explained? > > Would love to hear any and all thoughts on this. > > Debby Howard > > - - - ------------------------------ Date: Thu, 16 Apr 1998 21:43:04 -0400 From: Craig Griffin Subject: [CANSLIM] YHOO and AMZN (was Results of Earnings/Momentum Screen) Had to reply to myself because I'm worried that someone on the list new to CANSLIM will go out and buy YHOO tomorrow since I implied it might be the "next MSFT". It could be, but it also could get clobbered over the next couple of years by a bigger competitor (maybe even MSFT itself). So - CANSLIM principles say wait for it to base and buy it coming out of its next base. The last base of any size was back at around $70 in late February. It now is way EXTENDED. Smells a little like a climax run, can't be sure (could even drop sharply if true). Needs to base a few weeks and come back out of the new base before hopping aboard. Same applies to AMZN - needs to base. Too extended to buy now. They have come too far too fast and are ripe for a correction. Could correct tomorrow or could be weeks from now - but too risky to enter now IMHO. Conversely, too risky to short, uptrend is too strong. Sorry if anyone got the wrong idea, I did not intend that any of the stocks I mentioned today as recommendations. They were all just examples of some sort which I have not evaluated as potential purchases at the current time. I wrote: >What's next? The INTERNET. Why are the YHOO's and AMZN's of the world >flying so high. Because a lot of folks are betting on the next MSFT, and >the one's that look like the clear winners - why if you bet right, it is >like buying MSFT 2 years after the IPO. It seemed impossible that it could >go higher. But it had just begun to go. But MSFT was never a $10 stock. >Or if it was, would it have hurt you to wait for it to poke its head up >above the crowd and buy it then? Do any of these sub-$12 stocks look like >big winners? Nope, but YHOO just might be. Has been already. Is it over? > Look at how many people said it was too high when it came out of it's last >base. - - ------------------------------ Date: Thu, 16 Apr 1998 22:29:55 EDT From: DCSquires Subject: Re: [CANSLIM] YHOO and AMZN (was Results of Earnings/Momentum Screen) In a message dated 98-04-16 21:44:28 EDT, you write: << Smells a little like a climax run, can't be sure (could even drop sharply if true). Needs to base a few weeks and come back out of the new base before hopping aboard. Same applies to AMZN - needs to base. Too extended to buy now. They have come too far too fast and are ripe for a correction. Could correct tomorrow or could be weeks from now - but too risky to enter now IMHO. >> Very, very true! The only thought a person should have right now when looking at these stocks is RISK. This group is experiencing the definition of a climax run. A stock that trends strongly for several months and then suddenly runs up even faster for days or weeks. Don't get me wrong, I think many of these companies will be future leaders but they can be bought later when the risk/reward situation has imporved. The people that bought at market this morning think they are smart now but losses will likely be handed to them soon enough. Anyone who purchased YHOO, XCIT,SEEK, or LCOS this morning is likely on an emotional roller coast that is lead by PRICE and PRICE only. This is why they will likely sell at a loss as these stock come back to earth. DSquires - - ------------------------------ Date: Thu, 16 Apr 1998 19:50:16 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Results of Earnings/Momentum Screen > From: "Tom Worley" > To: > I agree that the "old" reason of buying only in round lots to avoid > the surcharge is history. However, the real reason for buying in > quantity remains, to divide the cost of the round trip transaction > over more shares. Even if it only costs $20 for the round trip, this > cost over 40 shares means the first 50 cents of appreciation go to pay > costs. Had you bot 200 shares for the same cost, then only a dime is > needed to cover costs. Huh? I don't get this. The only thing that seems to count to me is you are buying X dollars worth of something, and you hope it appreciates some percentage. Doesn't matter if it is 200 shares for $3000, or 50 shares for $3000 with the same commission in each case, you still get the same return on a 30 percent gain, or whatever. The commission should be the same these days, because usually on anthing under 1000 shares you are paying the minimum commission. If not you are overpaying. - - ------------------------------ Date: Thu, 16 Apr 1998 19:57:07 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Results of Earnings/Momentum Screen Hey Tom, you must be using that "new math" I've heard so much about. Seriously though, look at what you wrote. You are saying that 200 x 0.10 does not equal 40 x 0.50. Of course it does! At 07:50 PM 4/16/98 -0800, you wrote: > I agree that the "old" reason of buying only in round lots to avoid > the surcharge is history. However, the real reason for buying in > quantity remains, to divide the cost of the round trip transaction > over more shares. Even if it only costs $20 for the round trip, this > cost over 40 shares means the first 50 cents of appreciation go to pay > costs. Had you bot 200 shares for the same cost, then only a dime is > needed to cover costs. > 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: Thu, 16 Apr 1998 22:00:18 -0500 From: Dave Cameron Subject: Re: [CANSLIM] online firms Tom Worley wrote: > > I need to move my accts from the firm where I used to work. At least > for now, I want an online acct, and discovered yesterday that Knight > Securities is not yet set up for retail or online, so must look > elsewhere. I checked Fidelity, but they apparently won't take my > margin acct on margin because I am unemployed. Anybody got any > suggestions of a discount firm that doesn't have this problem? Tom, Check out Burke, Christensen, & Lewis (www.bclnet.com). Its a family-owned firm with 25 years of experience, good execution, and $13 on-line trades. Dave Cameron > > Tom W > > - - - ------------------------------ Date: Thu, 16 Apr 1998 22:23:15 -0500 From: Dave Cameron Subject: Re: [CANSLIM] YHOO and AMZN (was Results of Earnings/Momentum Screen) Craig Griffin wrote: > > Had to reply to myself because I'm worried that someone on the list new to > CANSLIM will go out and buy YHOO tomorrow since I implied it might be the > "next MSFT". It could be, but it also could get clobbered over the next > couple of years by a bigger competitor (maybe even MSFT itself). > Snipped... Good point - although one way to play this (the way I am, anyway) is to find a mutual fund that goes for these type of stocks. Transamerica Small Company Fund has a small portion of my funds for the long haul. Their biggest holding is AMZN. (EPS 1, RS 99 - goes a long way in the short term toward good results). Their 2nd biggest holding, last time I looked, was PIXR. (EPS 9, RS 94) I picked this fund because they specialize in small stocks poised to potentially do really well. Of course, these could fizzle, but I'd never buy a stock with an EPS of 1 or 9 - I leave that to the fund managers. Dave Cameron - - ------------------------------ Date: Fri, 17 Apr 1998 03:39:04 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] TMBS earnings On Thu, 16 Apr 1998 15:05:33 EDT, you wrote: :Hi all, : :TMBS is ralling on comparatively less volume than its last advance. This= is a :sign to be carful. Also, many of the recent up days have come on average= or :less than average volume. : :DSquires : Well, I've been in TMBS for a while and have been watching it as closely as possible. So I have some feeling for its action. To be perfectly honest (I'll try!), it mystifies me. I've watched (and owned) other stocks that are infinitely more predictable. I've come to the conclusion that there are factors driving the action of this stock that I am completely unaware of.=20 =46or example. I bought it on 2/6/98. At that time, it was prone to very peculiar action: Volume was typically tremendous, averaging several times ADV and often well over 10 x ADV. On these days, it would typically be well up in the morning, often fare well for most of the day and then drop off sharply before closing, with little (or no) gain, comparatively. I combed the message boards for hints of what the action could mean, and saw some stuff speculating about possible takeover bids in the near future. This seems somewhat unsubstantiatable and I've seen no such rumours since.=20 Since those days in Feb., the action has changed entirely. Volume has dried up for the most part, especially the last few weeks. The last major advances (today's excluded) have been on low volume. As Mr. Squires suggests, it is a warning to be careful. My confidence in this issue is not rock bottom, but it is not high. I don't know who is influencing its action and what is motivating it.=20 Now I've seen some discussion (Silicone Investor, America Online message boards, Motley Fool...but for the most part SI) that TMBS tends to run up prior to earnings report. There was a story in IBD a few weeks ago that appeared to send the stock up 5% or so in one day. I have seen discussion around 5 - 6 weeks ago about resistance at 18 until significant news occurs. Today's report could well be that news. What the near term or long term holds for TMBS I do not know. I have a hunch that it will sit about where it is for a week or two and then make a move upward. That could prove to be quite wrong. Like I said, I find this one very hard to read. Now, I just had a look at the chart, and what I noticed a day or two ago sticks out again -- the last couple of months form a pretty classic double bottom pattern. Am I wrong? There appears to be definite support in the 15 area. But, of course, an 8% stop would yank you out way before that support level was reached from here. Dan - - ------------------------------ Date: Fri, 17 Apr 1998 03:51:56 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] online firms -- Datek On Thu, 16 Apr 1998 12:06:08 -0400, you wrote: :Hello, : :Does anybody know much about Datek. I understand there trade commission= is $9.99 :regardless of size or type of trade. A friend of mine is opening an = account :there. : : :Brad : I too have a Datek account. Moved to them from E*Trade, for two reasons: 1. 1/2 the commision. 2. Free real-time quotes. I've seen some discussion on this list of just how "real time" the quotes are. However, I think they are usually very much so, compared to Yahoo, where 15 - 20 minutes is typical. This is a very important issue, in my estimation. It can cost you a lot of money if you have old info on your stock's action. If anyone feels that Datek's *real-timeliness* is lacking, I'd like to hear about it. I've talked to their representatives on the phone. It hasn't been terribly difficult to get through...similar to E*Trade, is my feeling. I've found the interface simpler and better for me than E*Trade's.=20 When it came to tax time, they did not send me a list of what I payed for my buys in 1997. They did send me the total of my sells, which I believe is required. I called and asked about it (E*Trade sent me both), and I was told bluntly that they are a deep discount broker and you don't get things like that. This amazes me, because you do get a confirmation by US Mail in a couple of days (and an email too, which E*Trade did NOT do), and it seemed that one more piece of paper a year wouldn't put them out too much. But I'm not one to complain about something like that. It wasn't hard for me to figure it out...just went to the website and printed out the online shot of my transaction history. Datek guarantees execution of your order within 60 seconds or you pay no commission.=20 Does anyone have any info on SureTrade? $7.95/transaction. Dan - - ------------------------------ Date: Fri, 17 Apr 1998 03:57:11 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] online firms -- Datek One more thing about Datek:=20 They changed their Internet interface recently. When you log in you have a choice of the old interface or the new one, and they hype the new one as better, etc. However, when they did this (around 5 or six weeks ago, I guess), they eliminated one of my very favorite features, which was intraday charts: 5 minute and 1 minute charts, which made it possible to assess the action, where it had gone, when the pressure was up, when down. I sent them two emails about it, and I think someone answered my 2nd one vaguely saying it had been discontinued. They now have a link to Big Charts.=20 Does anyone know where I can find intraday charts on the Web? Dan - - ------------------------------ Date: Fri, 17 Apr 1998 03:58:36 GMT From: musicant@autobahn.org (Dan Musicant) Subject: [CANSLIM] Where can I find intraday charts? Does anyone know where I can find intraday charts on the Web? I mean the kind where you can see the action minute by minute, 1/2 hour by 1/2 hour, hour by hour, that kind of thing. TIA, Dan - - ------------------------------ Date: Fri, 17 Apr 1998 00:00:59 -0400 From: "Nelson E. Timken, Esq." Subject: Re: [CANSLIM] online firms -- Datek This is a multi-part message in MIME format. - ------=_NextPart_000_004D_01BD6993.E7466060 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit I've heard mixed reviews on Datek, quite frankly. I have been with Waterhouse for over a year and while they are not the cheapest per trade, overall I feel that the combination of service and price best suits my needs. There are very few "extra" costs. Nelson E. Timken, Esq. - --------------------------------------------------- J.N. Capital, Inc. Douglason, New York - -----Original Message----- From: Dan Musicant To: canslim@lists.xmission.com Date: Thursday, April 16, 1998 11:55 PM Subject: Re: [CANSLIM] online firms -- Datek On Thu, 16 Apr 1998 12:06:08 -0400, you wrote: :Hello, : :Does anybody know much about Datek. I understand there trade commission is $9.99 :regardless of size or type of trade. A friend of mine is opening an account :there. : : :Brad : I too have a Datek account. Moved to them from E*Trade, for two reasons: 1. 1/2 the commision. 2. Free real-time quotes. I've seen some discussion on this list of just how "real time" the quotes are. However, I think they are usually very much so, compared to Yahoo, where 15 - 20 minutes is typical. This is a very important issue, in my estimation. It can cost you a lot of money if you have old info on your stock's action. If anyone feels that Datek's *real-timeliness* is lacking, I'd like to hear about it. I've talked to their representatives on the phone. It hasn't been terribly difficult to get through...similar to E*Trade, is my feeling. I've found the interface simpler and better for me than E*Trade's. When it came to tax time, they did not send me a list of what I payed for my buys in 1997. They did send me the total of my sells, which I believe is required. I called and asked about it (E*Trade sent me both), and I was told bluntly that they are a deep discount broker and you don't get things like that. This amazes me, because you do get a confirmation by US Mail in a couple of days (and an email too, which E*Trade did NOT do), and it seemed that one more piece of paper a year wouldn't put them out too much. But I'm not one to complain about something like that. It wasn't hard for me to figure it out...just went to the website and printed out the online shot of my transaction history. Datek guarantees execution of your order within 60 seconds or you pay no commission. Does anyone have any info on SureTrade? $7.95/transaction. Dan - - - ------=_NextPart_000_004D_01BD6993.E7466060 Content-Type: text/x-vcard; name="Nelson E. Timken, Esq..vcf" Content-Transfer-Encoding: quoted-printable Content-Disposition: attachment; filename="Nelson E. Timken, Esq..vcf" BEGIN:VCARD VERSION:2.1 N:Timken;Nelson;E. FN:Nelson E. Timken, Esq. ORG:J.N. Capital, Inc. TITLE:Officer/Principal TEL;WORK;VOICE:718-468-6293 TEL;HOME;VOICE:718-468-6293 TEL;WORK;FAX:718-224-4782 TEL;HOME;FAX:718-224-4782 ADR;WORK:;;40-26 235th Street;Douglaston,;New York;11363;U.S.A. LABEL;WORK;ENCODING=3DQUOTED-PRINTABLE:40-26 235th = Street=3D0D=3D0ADouglaston,, New York 11363=3D0D=3D0AU.S.A. ADR;HOME:;;80-41 230th Street;Bellerose Manor,;New = York;11427-2105;U.S.A. LABEL;HOME;ENCODING=3DQUOTED-PRINTABLE:80-41 230th = Street=3D0D=3D0ABellerose Manor,, New York 11427-2105=3D0D=3D0AU.S.A. URL:http://www.geocities.com/wallstreet/5791 URL:Coming Soon! EMAIL;PREF;INTERNET:netimken@erols.com REV:19980417T040059Z END:VCARD - ------=_NextPart_000_004D_01BD6993.E7466060-- - - ------------------------------ Date: Fri, 17 Apr 1998 00:01:15 EDT From: DCSquires Subject: Re: [CANSLIM] online firms -- Datek In a message dated 98-04-16 23:55:16 EDT, you write: << Datek guarantees execution of your order within 60 seconds or you pay no commission. >> They do guarante execution but IMO this is a load of crap! They say that order execution starts with "work time". What the hell is work time! According to Datek, that is the time they receive the order over the internet, which could be delayed by network traffic. So, Datek can start "work time" any dam time they like!! DSquires - - ------------------------------ Date: Fri, 17 Apr 1998 00:05:52 EDT From: DCSquires Subject: Re: [CANSLIM] online firms -- Datek In a message dated 98-04-17 00:00:21 EDT, you write: << Does anyone know where I can find intraday charts on the Web? Dan >> http://www.tscn.com/wsc/Corporate_Snapshot.html?Symbol=NASD&Button=Get+Graph&U nits=1 Go to the link above. At the bottom of the srceen will be a "new symbol" box. Type any symbol you want into the box and you can get from one day to ten day charts on most stocks. DSquires - - ------------------------------ Date: Fri, 17 Apr 1998 00:09:03 EDT From: DCSquires Subject: Re: [CANSLIM] Where can I find intraday charts? In a message dated 98-04-17 00:01:24 EDT, you write: << Does anyone know where I can find intraday charts on the Web? I mean the kind where you can see the action minute by minute, 1/2 hour by 1/2 hour, hour by hour, that kind of thing. >> http://www.quote.com/cgi-bin/jchart-form The link above is a java charting program that might help you out. You should have alot of memory to run this. DSquires - - ------------------------------ Date: Fri, 17 Apr 1998 04:35:04 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] online firms -- Datek A minus for Datek: Just went to their website, and checked my portfolio, and see that their quote system is screwing up again. It's often wrong, and sometimes absolutely crazy (as it is now). For example, it has one of my stocks at 34 3/4, up 14 7/16 for the day. I wish! Dan - - ------------------------------ Date: Fri, 17 Apr 1998 00:52:02 -0400 (EDT) From: "John Nogueira (mssm2000)" Subject: [CANSLIM] My watch list Only the following factors were considered in making this CANSLIM watch list: EPS, RS, Chart, Shares Symbol EPS RS Chart Avg. Vol. Pivot? - ------ --- -- ----- --------- ------ mtxc 96 97 Tight Base 24,700 $28 astx 99 86 Base (cup w/handle?) 110,600 $17 belf 97 93 Short Base 40,700 $27 1/2 nsit 97 87 Long Base 49,700 $43 fdpc 96 86 Short Base 17,000 $13 7/8 grdg 95 93 Short Base 135,200 $22 1/2 Should any breakouts occur, please do your homework before purchasing. Also note that my readings of the pivot points may differ from yours. John F. Nogueira, Jr. - - ------------------------------ Date: Fri, 17 Apr 1998 01:04:09 EDT From: Mulack Subject: Re: [CANSLIM] Where can I find intraday charts? Try quicken.com for 1 minute charts. I think there is also weekly. Good luck Frank - - ------------------------------ Date: Fri, 17 Apr 98 07:49:17 +0200 From: dirk schelfhout Subject: Re: [CANSLIM] real time quotes -- Datek >If anyone feels that Datek's >*real-timeliness* is lacking, I'd like to hear about it. I have two accounts, datek and lombard ( discover brokerage ) Datek quotes used to be more real than lombard's. That is they showed higher volume. ( that was about 6 months ago ) Now the difference is small or non existent. Dirk - - ------------------------------ Date: Fri, 17 Apr 1998 03:47:03 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Spreads (was Results of Earnings/Momentum Screen) Bob, On stocks that trade with very light volume, the market maker needs a larger spread in order to cover a mkt order received (e.g. if the stock is 15 bid, 16 offered, and someone enters a mkt order for 1000 shares, the MM has to fill it, altho not necessarily all at 16). Thus the MM is now short 1000 shares and likely will go high bid to recover the shares. If he buys them back for less than he sold them, then he makes a profit. But he will want to buy them back as most MMers seek to be flat (neither short nor long) at the end of the day. This is why it was so hard before to get an order executed within the spread. But now with the new Order Display rules, your order must either be executed or displayed unless you put qualifiers like AON (all or none) on it. Thus, using the same example, you could enter an order to buy 1000 at 15 1/4. The MM wouldn't have to execute it, but he would have to show it, and it might induce someone else who wanted to sell, but wanted more than 15. Again, remember, just because you are the high bid doesn't guarantee that that seller's stock will go to you unless he happens to sell at the same broker dealer as you. Tom W - -----Original Message----- From: Robert Bomba <73223.2767@compuserve.com> To: canslim@lists.xmission.com Date: Thursday, April 16, 1998 4:43 PM Subject: Re: [CANSLIM] Results of Earnings/Momentum Screen >The SP/MM need the volume to make their money or they make it up in higher >spreads plain & simple IMHO of course. > > Bob > - - ------------------------------ Date: Fri, 17 Apr 1998 04:15:07 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Results of Earnings/Momentum Screen I'm of the old school, where I still think in terms of the price per share, not the total value of the position. Thus, when I buy a stock I mentally calculate how many cents it must move per share to cover costs. You are correct about the commission being the same if you are using a discount or online firm, but at the wirehouses you would likely have different commissions still. Tom W - -----Original Message----- From: Tim Fisher To: canslim@lists.xmission.com Date: Thursday, April 16, 1998 10:54 PM Subject: Re: [CANSLIM] Results of Earnings/Momentum Screen >Hey Tom, you must be using that "new math" I've heard so much about. >Seriously though, look at what you wrote. You are saying that 200 x 0.10 >does not equal 40 x 0.50. Of course it does! > >At 07:50 PM 4/16/98 -0800, you wrote: >> I agree that the "old" reason of buying only in round lots to avoid >> the surcharge is history. However, the real reason for buying in >> quantity remains, to divide the cost of the round trip transaction >> over more shares. Even if it only costs $20 for the round trip, this >> cost over 40 shares means the first 50 cents of appreciation go to pay >> costs. Had you bot 200 shares for the same cost, then only a dime is >> needed to cover costs. >> >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: Fri, 17 Apr 1998 08:41:13 -0400 From: "B. Miller" Subject: Re: [CANSLIM] online firms -- Datek Nelson E. Timken, Esq. wrote: > I've heard mixed reviews on Datek, quite frankly. > I have been with Waterhouse for over a year and while they are not the > cheapest per trade, overall I feel that the combination of service and price > best suits my needs. There are very few "extra" costs. > > Nelson E. Timken, Esq. > --------------------------------------------------- > J.N. Capital, Inc. > Douglason, New York > -----Original Message----- > From: Dan Musicant > To: canslim@lists.xmission.com > Date: Thursday, April 16, 1998 11:55 PM > Subject: Re: [CANSLIM] online firms -- Datek > > On Thu, 16 Apr 1998 12:06:08 -0400, you wrote: > > :Hello, > : > :Does anybody know much about Datek. I understand there trade commission is > $9.99 > :regardless of size or type of trade. A friend of mine is opening an > account > :there. > : > : > :Brad > : > > I too have a Datek account. Moved to them from E*Trade, for two > reasons: > > 1. 1/2 the commision. > 2. Free real-time quotes. > > I've seen some discussion on this list of just how "real time" the > quotes are. However, I think they are usually very much so, compared > to Yahoo, where 15 - 20 minutes is typical. This is a very important > issue, in my estimation. It can cost you a lot of money if you have > old info on your stock's action. If anyone feels that Datek's > *real-timeliness* is lacking, I'd like to hear about it. > > I've talked to their representatives on the phone. It hasn't been > terribly difficult to get through...similar to E*Trade, is my feeling. > > I've found the interface simpler and better for me than E*Trade's. > > When it came to tax time, they did not send me a list of what I payed > for my buys in 1997. They did send me the total of my sells, which I > believe is required. I called and asked about it (E*Trade sent me > both), and I was told bluntly that they are a deep discount broker and > you don't get things like that. This amazes me, because you do get a > confirmation by US Mail in a couple of days (and an email too, which > E*Trade did NOT do), and it seemed that one more piece of paper a year > wouldn't put them out too much. But I'm not one to complain about > something like that. It wasn't hard for me to figure it out...just > went to the website and printed out the online shot of my transaction > history. > > Datek guarantees execution of your order within 60 seconds or you pay > no commission. > > Does anyone have any info on SureTrade? $7.95/transaction. > > Dan > > - > > ------------------------------------------------------------------------ > > Nelson E. Timken, Esq. > Officer/Principal > J.N. Capital, Inc. > > Nelson E. Timken, Esq. > Officer/Principal > J.N. Capital, Inc. > 40-26 235th Street Work Voice: 718-468-6293 > Douglaston, Home Voice: 718-468-6293 > New York Work Fax: 718-224-4782 > 11363 Home Fax: 718-224-4782 > U.S.A. > Additional Information: > Version 2.1 > Last Name Timken > First Name Nelson > Additional NameE. > Label Work 40-26 235th Street Douglaston,, New York 11363 U.S.A. > Label Home 80-41 230th Street Bellerose Manor,, New York 11427-2105 U.S.A. > Revision 19980417T040059Z - - ------------------------------ Date: Fri, 17 Apr 1998 06:16:36 -0800 From: "Patrick Wahl" Subject: [CANSLIM] HYSW Peter and someone else mentioned owning Hyperion Software. I e mailed them to find out when earnings are due, and they said after the close (5 PM eastern) on Tuesday, April 21. - - ------------------------------ Date: Fri, 17 Apr 1998 09:21:02 -0400 From: Jeffry White Subject: [CANSLIM] CANSLIM? Certainly not CANSLIM, but definitely CAN-SKI!!!! http://www.nnerealestate.com/cgi-win/rlestate.exe/detl/L=520284&S=NH I hope all will excuse my indiscretion, but thought there might be a ski bunny out there with some CANSLIM profits who CAN-SKI. Jeffry - - ------------------------------ Date: Fri, 17 Apr 1998 14:04:24 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Market Data: On Thu, 16 Apr 1998 10:08:07 -0400, you wrote: :Well it's been a very long time since I last posted to this list, = probably 6 or 7 months, I've been lurking occasionally, stressed with = school and work, I haven't really been given the time to give much = thought to stocks beside the program I'm building (which is coming along = nicely I might say). Unfortunately the company who I had been getting my= market data from: T2 Software (all north American exchanges, indexes and= mutual funds for 30 cdn / month ) now seems to be down and it appears = I'll be needing a new data supplier. Does anyone know which company = offers any of the following: : :1) Daily Stock Data from Canadian and American markets :2) Daily Data of popular Canadian and American indexes :3) Daily Data from Canadian and American mutual funds :4) Fundamental Data from Canadian and American markets=20 : :All of the following would be needed daily at the close (except the = Fundamental data which could probably be quarterly ?) : :This would be a great help : :Thanks, : :Christopher Reid : Chris, I don't where you can best get your data, but I'm curious about the program you are working on. Are you willing to describe it? I'm a database programmer and contemplating creating an analysis program. I've started tracking my stocks, but realize that the potential is unlimited. What language are you using, and what kinds of things are you doing in your code? Thanks. Dan - - ------------------------------ Date: Fri, 17 Apr 1998 07:11:41 -0700 From: Tim Fisher Subject: Re: [CANSLIM] TMBS earnings I completely agree. Owned it once, got scared and dumped out for a 5% gain after being up 20%, will never buy it back. If anything that one day spike when it split should have scared the pants off of me but noooooooo... At 03:39 AM 4/17/98 GMT, you wrote: >On Thu, 16 Apr 1998 15:05:33 EDT, you wrote: > >:Hi all, >: >:TMBS is ralling on comparatively less volume than its last advance. This is a >:sign to be carful. Also, many of the recent up days have come on average or >:less than average volume. >: >:DSquires >: >Well, I've been in TMBS for a while and have been watching it as >closely as possible. So I have some feeling for its action. To be >perfectly honest (I'll try!), it mystifies me. I've watched (and >owned) other stocks that are infinitely more predictable. I've come to >the conclusion that there are factors driving the action of this stock >that I am completely unaware of. > 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: Fri, 17 Apr 1998 10:11:33 -0400 From: Connie Mack Rea Subject: [CANSLIM] Re:NSIT & OBV/MF Members-- John's Canslim watch list has a stock [NSIT] that has an informative chart as it relates to OBV/MF. Though it meets requirements for Canslim, it at the same time has a rather ominous chart, ominous by OBV/MF standards. Pull up MF on BigCharts with a 2-mos time frame and print the frame. In the chart frame and using the 5-day EMA as reference for a trend line, draw a line from March 3 across the tops in later March and early April. This trend line should show slight inclination. In the MF chart, originate a trend line from March 3 across the top in middle March. This line should be just slightly above the MF line at the first of April. The interpretation of the OBV is more complex. Pull up the OBV and use the dark 5-day EMA for trend lines and print out this chart. On the upper chart, a trend line from late in January to the first days of February is a fairly steep, about 28 deg. if you're so inclined to count. Draw a line originating at the top in the middle of February through the top at the first of April; just a slight decline. Then draw a line from the April top through the line registering the last trading day; this should show slight inclination. How you divide either chart is arbitrary; my division is not the only division. Now go to the OBV chart at the bottom. Draw a trend line from the high in late January through the top in early February. Draw another line from that same top in late January across the tops of middle February, middle March, and late March. Draw a line from the top of the last day in March across the top of a couple of days ago. Now to read the charts in terms of OBV/MF. The price trend line from late January to early February has a strong [28 deg. if you're so inclined to preciseness]] inclination, but the trend line in the OBV for the same time span shows a declination. In general, the price and OBV lines track from the middle of February to the end of March with the price slightly stronger than OBV. But look at the price trend line from the first of April to the present and the OBV trend line for the same period. The price line rises and the OBV line falls. There are, therefore, two periods when the price and the OBV are in negative divergence. Go back to the MF chart. The period from left most side of the chart to latter part of February negatively diverge: price rises and MF falls. The price trend line from the 3rd of March across the late March and early April slightly incline, but the MF line for the same period declines. What to infer? Each reading in terms of OBV/MF implies problems. The MF chart implies a long standing difficulty that has not manifested itself yet, though the price does dip at the end of February and lasts for a couple of weeks. But then the price picks up as if all were well. But the MF says otherwise; it continues to deteriorate. The OBV [and the MF] are falling for the period from the first of April to the present. If I were a holder of NSIT [but I wouldn't have been because of the negative divergence of OBV/MF], I would watch the next correction carefully and would not be surprised if it took the stock below the April low. Some bad things have been happening with OBV and MF, and not just in April. The farther back these bad things are, the less sure you can be about the time or extent of their manifestation. The negative divergence of OBV and MF in April would worry me more. I would never give the stock a chance to give me more than a nominal hurt. To say that this second negative divergence will be the one to bring the price down seriously is to speculate--but the speculation is by the numbers. And not to believe in your own numbers is to negate your system. Why take a chance when your numbers say otherwise? Remember that a trader can lose 60% of his trades and still make money on the remainder. The reason is that he never takes a big hit. NSIT would, for me, open me up to a big hit. Connie Mack John Nogueira (mssm2000) wrote: > Only the following factors were considered in making this CANSLIM > watch > list: > > EPS, RS, Chart, Shares > > Symbol EPS RS Chart Avg. Vol. Pivot? > > ------ --- -- ----- --------- ------ > > mtxc 96 97 Tight Base 24,700 $28 > astx 99 86 Base (cup w/handle?) 110,600 $17 > belf 97 93 Short Base 40,700 $27 > 1/2 > nsit 97 87 Long Base 49,700 $43 > fdpc 96 86 Short Base 17,000 $13 > 7/8 > grdg 95 93 Short Base 135,200 $22 > 1/2 > > Should any breakouts occur, please do your homework before purchasing. > > Also note that my readings of the pivot points may differ from yours. > > John F. Nogueira, Jr. > > - - - ------------------------------ End of canslim-digest V2 #192 ***************************** 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.