From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #224 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 Monday, May 4 1998 Volume 02 : Number 224 In this issue: Re: [CANSLIM] USNA Re: [CANSLIM] was Shorts - TSV [CANSLIM] Writing off expenses. Re: [CANSLIM] Weekly Picks Re: [CANSLIM] Weekly Picks Re: [CANSLIM] TMBS breaking out Re: [CANSLIM] Weekly Picks [CANSLIM] RE: Selections from "Your Weekend Review" Re: [CANSLIM] Weekly Picks Re: [CANSLIM] Weekly Picks Re: [CANSLIM] Weekly Picks Re: [CANSLIM] Non-canslim HIV Re: [CANSLIM] HIV correction [CANSLIM] Response from Ameritrade (delays) Re: [CANSLIM] Weekly Picks ---------------------------------------------------------------------- Date: Sun, 3 May 1998 18:25:01 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] USNA I used the April 30 IBD, numbers listed are as they are listed in IBD. One day could account for slight variations. Tony - ---------- > From: Tony Austin > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] USNA > Date: Sunday, May 03, 1998 4:27 PM > > EPS 97 REL STR 92 A/D B AGR 131 QTR 88 PE 27 > > OBV turned positive the middle of April. TSV gave a first buy signal on > 4/27. The first stochastic buy signal was given mid april with a second > confirming signal pending, but looks to be slated for monday in trend > continues. > > A real buy candidate if it breaks above 29 1/2 with strong supporting > volume. > > > Tony > > ---------- > > From: David S. Pinhasik > > To: canslim@lists.xmission.com > > Subject: [CANSLIM] USNA > > Date: Sunday, May 03, 1998 12:33 PM > > > > I think it's breaking out on 3X ADV. Any comments? > > > > > > > > - > > > > - > - - ------------------------------ Date: Sun, 3 May 1998 20:29:14 -0400 From: "Al French" Subject: Re: [CANSLIM] was Shorts - TSV I just set up a chart with both OBV and TSV. The patterns are identical, but the TSV is more sensitive than OBV. In other words, the OBV looked like a smoothed TSV. Al French alfrench@erols.com - -----Original Message----- From: Barry Marx To: canslim@lists.xmission.com Date: Sunday, May 03, 1998 12:52 PM Subject: Re: [CANSLIM] was Shorts - TSV >Tony - > >The TC2000 manual says that TSV is their own proprietary indicator, >and I've never seen it mentioned anywhere else. >I'd be interested in knowing the name of the text in which you've seen >it described so that I could read the description. > >Thanks, > Barry > >-----Original Message----- >From: Tony Austin >To: canslim@lists.xmission.com >Date: Sunday, May 03, 1998 10:54 AM >Subject: Re: [CANSLIM] was Shorts - TSV > > >>Kent, >> >>Not sure I am clear on the question about TSV, but I'll make a stab. I'm >>not going to give a technical explanation of how TSV is calculated, I'd >>have to dig up a text to look that up. I will attempt a simple >>explanation. >> >>I think a simple way to explain it, is to draw a distinction between On >>balance volume (OBV) and time segmented volume (TSV). The first, OBV, is >>more of a quantitative measure of volume, while TSV is a qualitative. >> >>As I understand it, the two share similar calculations, the addition or >>subtraction of volume based on up or down days for the equity...a >>simplification. The biggest difference is in how they are used or intended >>for use. >> >>OBV is sort of a running sum and will clearly show accumulation and/or >>distribution taking place over a period of time, in sort of a running value >>like a stocks price. >> >>TSV also has a funning sum about it, will show accumulation and/or >>distribution, but centers on a neutral zero line. TSV can be a more >>informative short term indication given that it lends itself to changes in >>short term volume trends rather than quantitative volume. >> >>Not to be misleading, OBV can also provide very good volume swing >>indications, but for me, is more of a confirming volume trend line. >>However, often you can pick up on building volume pressure in a stock with >>OBV that hasn't given clear signals in TSV. So they compliment each other >>very well. >> >>In terms of software, I can only comment on what I use, TC2000. I have >>been very impressed with the available functions and flexibility to adjust >>as I want to see the data. I would be surprised if you found a good >>charting routine today that did not have both of these functions available. >> >>I hope this helps and doesn't ramble to much. >> >>If you want the actual numerical calculations, I'll dig them up. >> >>Tony >> >> >> >>---------- >>> From: Kent Horne >>> To: canslim@lists.xmission.com >>> Subject: Re: [CANSLIM] Shorts >>> Date: Sunday, May 03, 1998 9:29 AM >>> >>> Tony, I've done some trades in SPY, DIA, and MDY. Appreciated your >>comments >>> re: SPY. Would you give some references or sources for the plus and >>minus >>> TSV calculations? Is TSV given on one of the chart services or by a >>specific >>> software package? Thanks. >>> As a related comment, it often looks as if much larger blocks of SPY >>trade >>> interday, than trade sizes of DIA and MDY. kent >>> >>> >>> >>> - >>> >> >>- >> >> > > >- > > - - ------------------------------ Date: Sun, 3 May 1998 21:35:08 EDT From: Mulack Subject: [CANSLIM] Writing off expenses. For anyone who knows. I am wondering if the is anyway I could write off on my taxes the use of charting programs, internet service fee, computer, and other resources spent on researching and trading the market. Can I establish a business? If anyone knows I would appreciate advice. Thank you Frank Mulack - - ------------------------------ Date: Sun, 3 May 1998 21:40:59 -0400 From: "Al French" Subject: Re: [CANSLIM] Weekly Picks According to Zack's consensus earnings estimates, MLHR is to drop from 83% in Q3 to 14% in Q4. That may account for the correction since late March. On the other hand, four relatively high volume up days have turned OBV and TSV to positive divergence, I think. Maybe a TA guru should check me on that. Al French alfrench@erols.com - -----Original Message----- From: Tony Austin To: canslim@lists.xmission.com Date: Sunday, May 03, 1998 4:17 PM Subject: Re: [CANSLIM] Weekly Picks [snip] >MLHR - Miller Herman EPS 96 Rel Str 89 A/D B PE 27 Agr 38 Qtr1 +85 >Qtr2 69 Qtr3 83 > >After reaching a high of 36 1/4 on 3/25, MLHR has been correcting downward >for the past 5 weeks. Volume never reduced to the low level I would like >to see nearing the end of the correction, but it has increased over the >past two trading days in a possitive way. OBV has remained flat during this >time, indicating no strong selling pressure, and turned possitive on 4/28. >TSV reached a bottom last week and has turned possitive on 4/28. >Stochastic has turned possitive with the upward divergence of SK and SD >occuring on 4/29. This is not a CANSLIM point of entry, but if anyone is >looking to enter near the bottom of a correction, this may be the time, >with 16.5% gains available between here and the previous high. > [snip] >Tony > > >- > > - - ------------------------------ Date: Sun, 3 May 1998 22:06:24 -0400 From: "Al French" Subject: Re: [CANSLIM] Weekly Picks According to Zack's consensus earnings estimates MLHR's EPS will fall from 83% in Q3 to 14% in Q4. That may help account for the stock price heading south since late March. Al French alfrench@erols.com - -----Original Message----- From: Tony Austin To: canslim@lists.xmission.com Date: Sunday, May 03, 1998 4:17 PM Subject: Re: [CANSLIM] Weekly Picks [snip] >MLHR - Miller Herman EPS 96 Rel Str 89 A/D B PE 27 Agr 38 Qtr1 +85 >Qtr2 69 Qtr3 83 > >After reaching a high of 36 1/4 on 3/25, MLHR has been correcting downward >for the past 5 weeks. Volume never reduced to the low level I would like >to see nearing the end of the correction, but it has increased over the >past two trading days in a possitive way. OBV has remained flat during this >time, indicating no strong selling pressure, and turned possitive on 4/28. >TSV reached a bottom last week and has turned possitive on 4/28. >Stochastic has turned possitive with the upward divergence of SK and SD >occuring on 4/29. This is not a CANSLIM point of entry, but if anyone is >looking to enter near the bottom of a correction, this may be the time, >with 16.5% gains available between here and the previous high. > [snip] > >Tony > > >- > > - - ------------------------------ Date: Mon, 04 May 1998 02:04:45 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] TMBS breaking out On Fri, 1 May 1998 15:59:26 -0400 , you wrote: :I "found" this one last night and decided to buy it this morning. It's = the :one that I was :complaining about Ameritrade's delay. The delay cost me a 1/4 point. = Stock :has risen :1 5/16 today. : It appears that the TMBS breakout of Friday was precipitated by IBD's article on Friday (Page A3). Dan - - ------------------------------ Date: Mon, 4 May 1998 12:30:06 +0300 From: "David S. Pinhasik" Subject: Re: [CANSLIM] Weekly Picks >My picks for this week. > >VCI - Valassis Communications (Cap - 39 mil, avg vol 170000) >Eps 81 Rel Str 90, Anl Grth 132, Last qtr 64 A/D A Grp Str B PE 21. > > According to DGO, funds own 78%, too much for me. - - ------------------------------ Date: Mon, 4 May 1998 08:30:02 -0400 From: Larry Horn Subject: [CANSLIM] RE: Selections from "Your Weekend Review" Frank W. has been helping me figure out how to make the spreadsheet available to everyone. This method works for him so I hope it will work for others. Go to www.duke.edu/~clhorn/canslim. Click on 5-1-98.csv and you will receive the download dialog. Click save as and change the name to anyname.csv. Then you can open it in your spreadsheet. Anthony Boone has been sending me the csv files but I didn't know how to best use them until know. Please let me know if you have any problems with this. Ideally, I could use the FTP site that Jeff has but I am still trying to figure out how to do that. Larry Horn - - ------------------------------ Date: Mon, 4 May 1998 09:10:06 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] Weekly Picks > > > > > According to DGO, funds own 78%, too much for me. > > > How do I get to DGO? Tony - - ------------------------------ Date: Mon, 04 May 1998 07:58:52 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Weekly Picks DVI, MLHR, VCI all have over 50% of the float owned by institutions, and from 0.1 to 7% of the issue owned by insiders. I can't get info from Zacks on EDAC and MDWY - can someone get these numbers for those two? AVS has 80% owned between the two; Tom would say too much - I added it to my watch list. The moral: IMHO, at least the first three do no meet the "I" criteria. Please do your homework before posting, or at least give us these numbers, which should be available on the net. At 05:08 PM 5/3/98 -0400, you wrote: >Not a bad list for a first try, Tony. I have listed the current data >from DGO below, along with some comments. Hope it helps. I would >disagree with you on the issue of RS. For me, it is the FIRST Canslim >element I look at. If it's not over 90, I am usually not that >interested, unless EPS is very high and the chart looks strong. I have >found that RS, and its most recent trendline direction, shows the >"popularity" of a stock. If it's out of current favor, I may leave it >on my watch list for other reasons, but I will not buy it. > >Symbol RS EPS A/D U/D TIME GRS >VCI 74 84 B 1.4 B 58 >DVI 88 87 A - - - >AVS 73 96 D 0.5 C 56 >MLHR 69 96 B 1.6 B 86 >TMBS 97 99 B 1.5 A 82 > note: new CEO as of 5/98, often bullish - looks good >EDAC 99 75 A 4.5 A 81 > note: feel free to support, I'm only up 25% and may need some >help while my accts are in transfer to Schwab >WSTF 97 95 A 5.2 A 93 > note: wish HDWY had looked this good, might have held on >MDWY 62 74 B - - - > >Tom W > Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@orerockon.com WWW http://OreRockOn.com - - ------------------------------ Date: Mon, 4 May 1998 19:17:19 +0300 From: "David S. Pinhasik" Subject: Re: [CANSLIM] Weekly Picks > >How do I get to DGO? > >Tony > go to www.dailygraphs.com, choose to be a beta tester, read all the info and download the software. It's free till May 11, according to the email I recently received from them. - - ------------------------------ Date: Mon, 4 May 1998 13:25:22 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] Non-canslim HIV If anyone is looking for an issue to stick in their back pocket for a long term hold, consider HIV. By the name, you can tell that this pharm. company is working on immune related disorders. Theirs is not a drug, but rather an immune boosting therapy that has been showing great promise in early testing. If you remember in the news a few months back, several doctors who had volunteered to infect themselves with the aids virus, as a part of a study. That is this company. The are looking a numerous related immune related illnesses for their approach as well. I started buying it at 4 1/2. Today it has run up a bit to 5 1/2. I was in for the run from 4 to 9 late last year. This should not be viewed as a short term trade. If it sees 4 3/4 again, I will be adding to my holdings. regards, Tony - - ------------------------------ Date: Mon, 4 May 1998 13:26:51 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] HIV correction Sorry, up to 5 3/16. Tony - - ------------------------------ Date: Mon, 4 May 1998 14:41:14 -0400 From: Paul Gilberti Subject: [CANSLIM] Response from Ameritrade (delays) No, this is certainly not standard, and is an issue that has been receiving a great deal of attention. A fix was installed last Monday night to alleviate the fill report delay problem. It has been working VERY well, other than during the morning hours when it needs a little time to 'catch up' (additional changes were installed this weekend to eliminate this as well). Hopefully you have noticed this improvement if you have placed any market orders today. Additional adjustments will be made to the update as needed, though hopefully this will put fill reports back on track. We appreciate your patience and perseverance! Thanks, David S. Engler Senior Representative Technology Support - E-mail Group Ameritrade, Inc. Email: Paul.Gilberti@Digital.com Voice: 603-432-6239 * Corporate IS Services <<...>> - - ------------------------------ Date: Mon, 4 May 1998 18:57:11 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Weekly Picks Tony, DailyGraphs Online can be found (that is, the software can be downloaded) at www.dailygraphs.com. HOWEVER, they have set May 11 to go commercial (at $720/year with no screening capability) which is pretty steep even considering the value of the site data. We have some efforts ongoing (Rich, myself and several others) in an attempt to negotiate a discounted group rate. I just sent a lengthy email off this weekend but don't see a response to it come back yet. If we can't get a group rate, which would be very disappointing, I plan to subscribe to the monthly printed NASDAQ book, plus DGO, which cuts the costs to around $400/year. I hate the idea of more trees having to be chopped down just to send me a book I will never open, but still would be better value. I will post any response I get. Tom W - -----Original Message----- From: Tony Austin To: canslim@lists.xmission.com Date: Monday, May 04, 1998 9:08 AM Subject: Re: [CANSLIM] Weekly Picks >> > >> > >> According to DGO, funds own 78%, too much for me. >> >> >> > >How do I get to DGO? > >Tony > >- > - - ------------------------------ End of canslim-digest V2 #224 ***************************** 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.