From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2410 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Thursday, May 9 2002 Volume 02 : Number 2410 In this issue: RE: [CANSLIM] Curious in Florida RE: [CANSLIM] Curious in Florida Re: [CANSLIM] Curious in Florida ---------------------------------------------------------------------- Date: Wed, 8 May 2002 22:59:42 -1000 From: "Mike Gibbons" Subject: RE: [CANSLIM] Curious in Florida This is a multi-part message in MIME format. - ------=_NextPart_000_006D_01C1F6E4.0A17E8C0 Content-Type: text/plain; charset="Windows-1252" Content-Transfer-Encoding: 7bit MessageHi Duke, re: (FYI: Yes, there are 11 criteria on the Evaluator, but I throw out N--the fact a stock appears within the past 7 days on a Watch List is immaterial for ranking purposes, IMHO.) Wouldn't the fact that it's in a handle be an additional indicator that the stock is worth evaluating? Just asking, I only do the programming around here. Aloha, Mike Gibbons Proactive Technologies, LLC http://www.proactech.com -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Duke Miller Sent: Wednesday, May 08, 2002 5:02 AM To: CANSLIM Subject: [CANSLIM] Curious in Florida Good morning all: Since most of you know how I feel about present market environment, you'll be glad to know this isn't about that. It's about AFTER "that!" I'll explain: Each day, I download the Excel version of the Daily Screen from IBD. Then I "play" with it for awhile. I sort various aspects to my personal preferences: Industry Group Rank (eliminating all above 40); SMR (eliminating all at C or worse); and so forth. Then I may sort them by other factors--combined RS & EPS Ratings or Index of Current PE vs. Projected--to arrive at a another cutoff point. After all that, I put the remnants into a portfolio with that day's price. Then I follow the action. What I'm seeing is an amalgam of stocks, the majority of which keep re-appearing in my final cuts. Some, more than I care to mention, I was shaken out of earlier this year before going to all cash; some, more than I care to mention, I wish I'd jumped on. They're the ones that when I should have jumped on them (I don't have 20-20 hindsight like IBD does) the right criteria weren't present (usually the darn charts). But the fact remains, many of the same symbols are there. And they aren't going away! Further, on May 6, a truly awful day on all three of the big indexes, I reviewed my Daily Screens portfolios to see which stocks suffered the least. The list read like a who's-who of my Daily Screens Portfolios. So, here's my question: If these same names are hanging around like they are, day in and day out for several months now, both on my sorted screens and in IBD editorial, does it stand to reason that when the market turns, these stocks that have exhibited such strength in a bad market should be the BIG winners when M starts to head North? I, like all of you, hear over and over again that we should be watching for stocks forming good bases at this time, blah, blah, blah. But it's my opinion 9/11 created one crazy environment for the markets and a lot of stocks we're seeing making big gains these days are NOT conforming to the teachings of WON. While composing this, I put these stocks to one more test. The Canslim Evaluator. I found it interesting that while all these stocks are floating on the top, the average score is an unimpressive 6.2 out of 10. In fact, only one was 8 or better: UOPX at 8. (FYI: Yes, there are 11 criteria on the Evaluator, but I throw out N--the fact a stock appears within the past 7 days on a Watch List is immaterial for ranking purposes, IMHO.) Your opinions will be highly valued. Thank you. Duke Everybody should believe in something - I believe I'll have another glass of great wine! - ------=_NextPart_000_006D_01C1F6E4.0A17E8C0 Content-Type: text/html; charset="Windows-1252" Content-Transfer-Encoding: quoted-printable Message
Hi=20 Duke,
 
re: (FYI:  Yes, there = are 11 criteria=20 on the Evaluator, but I throw out N--the fact a stock appears within the = past 7=20 days on a Watch List is immaterial for ranking purposes, = IMHO.)
 
Wouldn't the fact that it's in a handle be an additional = indicator=20 that the stock is worth evaluating? Just asking, I only do the = programming=20 around here.
 
Aloha,
 
Mike Gibbons
Proactive Technologies, = LLC
http://www.proactech.com
-----Original Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Duke=20 Miller
Sent: Wednesday, May 08, 2002 5:02 AM
To:=20 CANSLIM
Subject: [CANSLIM] Curious in = Florida

Good morning=20 all:
 
Since most of = you know how I feel about present market environment, you'll be = glad to=20 know this isn't about that.  It's about AFTER "that!"  = I'll=20 explain:
 
Each day, I = download the=20 Excel version of the Daily Screen from IBD.  Then I "play" = with it=20 for awhile.  I sort various aspects to my personal=20 preferences: Industry Group Rank (eliminating all above 40); SMR=20 (eliminating all at C or worse); and so forth.  Then I may sort = them by=20 other factors--combined RS & EPS Ratings or Index of Current PE = vs.=20 Projected--to arrive at a  another cutoff point. =20 After all that,=20 I put the remnants into a portfolio with that day's price.  Then = I follow=20 the action. 
 
What I'm = seeing is an=20 amalgam of stocks, the majority of which keep re-appearing in my = final=20 cuts.  Some, more than I care to mention, I was shaken out of = earlier=20 this year before going to all cash; some, more than I care to = mention, I=20 wish I'd jumped on.  They're the ones that when I should have = jumped on=20 them (I don't have 20-20 hindsight like IBD does) the right criteria = weren't=20 present (usually the darn charts).  But the fact remains, many of = the=20 same symbols are there.  And they aren't going away! =
 
Further, on = May 6, a=20 truly awful day on all three of the big indexes, I reviewed my Daily=20 Screens portfolios to see which stocks suffered the least.  = The list=20 read like a who's-who of my Daily Screens Portfolios. =20
 
So, here's my question:  = If these=20 same names are hanging around like they are, day in and day out for = several=20 months now, both on my sorted screens and in IBD editorial, does it = stand to=20 reason that when the market turns, these stocks that have exhibited = such=20 strength in a bad market should be the BIG winners when M starts to = head=20 North?
 
I, like all = of you, hear=20 over and over again that we should be watching for stocks forming good = bases=20 at this time, blah, blah, blah.  But it's my opinion 9/11 created = one=20 crazy environment for the markets and a lot of stocks we're seeing = making big=20 gains these days are NOT conforming to the teachings of WON.  = While=20 composing this, I put these stocks to one more test.  The Canslim=20 Evaluator.  I found it interesting that while all these stocks = are=20 floating on the top, the average score is an unimpressive 6.2 out of = 10. =20 In fact, only one was 8 or better:  UOPX at 8.  (FYI:  = Yes,=20 there are 11 criteria on the Evaluator, but I throw out N--the fact a = stock=20 appears within the past 7 days on a Watch List is immaterial for = ranking=20 purposes, IMHO.)
 
Your opinions = will be=20 highly valued.  Thank you.
 
Duke
 
Everybody = should=20 believe in something - I believe I'll have another glass of great=20 wine!
 
- ------=_NextPart_000_006D_01C1F6E4.0A17E8C0-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 9 May 2002 07:31:48 -0500 From: "Hill, Ernie" Subject: RE: [CANSLIM] Curious in Florida This message is in MIME format. Since your mail reader does not understand this format, some or all of this message may not be legible. - ------_=_NextPart_001_01C1F755.7D2B6000 Content-Type: text/plain Ian I agree with you about the fuel that was moving the market yesterday. While the CSCO news got the ball rolling, it appears that there was heavy short covering that continued push the market higher. E - -----Original Message----- From: Ian [mailto:ianstm@shaw.ca] Sent: Wednesday, May 08, 2002 10:57 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Curious in Florida "The question now to be answered is if this shift back to the many (most?) beaten down tech stocks, whether big or small" As far as I can tell, todays 'shift' was into the most heavily shorted issues. For the past 2 years, that kind of manic squeezing hasn't been indicative of any solid long-term trends. It sure looked like it had legs today though - I suspect that too many shorts at this stage in the game can provide more fuel for a while. These kind of gyrations sure seem to make CANSLIM investing more difficult. Ian - ----- Original Message ----- From: Tom Worley To: canslim@lists.xmission.com Sent: Wednesday, May 08, 2002 5:59 PM Subject: Re: [CANSLIM] Curious in Florida Chris, my impression today was that my biggest gainers were mostly the ones that have held up well over the past few weeks (EPIQ being one example, up 5.5%). My worst performers were ones, for the most part, that were weak in recent weeks. But my biggest gainer today was OVRL, up over 31%, despite its recent weakness. My VR Fund was up 3.5%, my IT stocks, comprising 74%, was up 4.9%, so clearly today was a move back to technology. The question now to be answered is if this shift back to the many (most?) beaten down tech stocks, whether big or small (CSCO gained 24% today on its first positive year to year quarter in over a year). Tom Worley stkguru@bellsouth.net AIM: TexWorley - ----- Original Message ----- From: Vanchee1@aol.com To: canslim@lists.xmission.com Sent: Wednesday, May 08, 2002 6:44 PM Subject: Re: [CANSLIM] Curious in Florida Sometimes we who are close to the market look too deep in what forces are behind a trend change. In actuality, when the masses go home after work and hear about this nice rally some will want to jump on the train, which can keep the momentum going. Bottom line, have a good list of stocks to watch, and be ready to buy when a market turn is confirmed. As always buy the quality, even if they did not participate in today's rally they will come around, break out and surpass most others. Personally I am 100% invested in stocks and was up only 1% today, yes a little disappointed, but am glad to be up over 30% so far this year and look forward to the market turning. Enjoy, Chris ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - ------_=_NextPart_001_01C1F755.7D2B6000 Content-Type: text/html Content-Transfer-Encoding: quoted-printable

Ian I agree with you about the fuel th= at was moving the market yesterday. While the CSCO news got the ball rolling, = it appears that there was heavy short covering that continued push the market higher.

 

E

 

-----Original Message-----
From: Ian [mailto:ianstm@sha= w.ca]
Sent: Wednesday, May 08, 2002 10:57 PM
To: canslim@lists.xmission.c= om
Subject: Re: [CANSLIM] Curio= us in Florida

 

"The question now to be answered is if this shift back to the many (most?) beaten down tech stocks, whether big or small"

 

As far as I can tell, todays 'shift' was into th= e most heavily shorted issues. For the past 2 years, that kind of manic squeezing hasn't been indicative of any solid long-term trends. It sure looked like it had legs today though - I suspect that too many shorts at this stage in the game can provide more fuel for a while.

 

These kind of gyrations sure seem to make CANSLIM investing more difficult.

 

Ian

 

 

----- Original Message ----- <= o:p>

From: Tom W= orley

Sent:<= /font> W= ednesday, May 08, 2002 5:59 PM

Subject: R= e: [CANSLIM] Curious in Florida

 

Chris, my impression today was= that my biggest gainers were mostly the ones that have held up well over the past few weeks (EPIQ being one example, up 5.5%). My worst performers were ones,= for the most part, that were weak in recent weeks. But my biggest gainer today = was OVRL, up over 31%, despite its recent weakness.

 

My VR Fund was up 3.5%, my IT stocks, comprising 74%, was up 4.9%, so clearly today was a move back = to technology.

 

The question now to be answere= d is if this shift back to the many (most?) beaten down tech stocks, whether big= or small (CSCO gained 24% today on its first positive year to year quarter in = over a year).

 

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

----- Original Message ----- <= o:p>

Sent:<= /font> W= ednesday, May 08, 2002 6:44 PM

Subject: R= e: [CANSLIM] Curious in Florida

 

Sometimes we who are close to the market look t= oo deep in what forces are behind a trend change. In actuality, when the masse= s go home after work and hear about this nice rally some will want to jump on the train, which can keep the momentum going. Bottom line, have a good list of stocks to watch, and be ready to buy when a market turn is confirmed. As al= ways buy the quality, even if they did not participate in today's rally they will come around, break out and surpass most others. Personally I am 100% invest= ed in stocks and was up only 1% today, yes a little disappointed, but am glad = to be up over 30% so far this year and look forward to the market turning.


Enjoy,  Chris



******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
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If you have received this email in error please notify the
sender.
******************************************************************
 - ------_=_NextPart_001_01C1F755.7D2B6000-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 9 May 2002 08:39:20 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Curious in Florida This is a multi-part message in MIME format. - ------=_NextPart_000_02EC_01C1F735.0350D140 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable after going thru all the indexes this morning, however, I think there = was a lot more to it than that. I have been saying for a long time that = there is a lot ($3 trillion, last report I saw) of money that is = sidelined. Much of this is institutional, and wants to get back in, and = much of that will flow to the past big names and big winners, many = (most?) of which are battered down and would be of little interest to us = here. CSCO is but one example of that. Most of them in the tech arena = did very well yesterday. I have no doubt some of that was short = covering, but I think if we had a way to measure sidelined cash on a = daily basis, we would see a tremendous amount was moving back in. Looking at the indexes, it appeared the ones that had been doing the = best, such as the Russell 2000, were up the least. And the worst = performers lately, Nasdaq heading that category, had the biggest gains. = This tells me there was also a lot of "value shopping" going on, exactly = the kind of mentality I expect from most institutional investors. If Wed's trading was dominated solely by short covering, then it is = unlikely to last, as shorters will lick their wounds if they didn't = cover for a net gain, then short again at a higher price if the rally = persists more than a day or two. Tom Worley stkguru@bellsouth.net AIM: TexWorley - ----- Original Message -----=20 From: Hill, Ernie=20 To: 'canslim@lists.xmission.com'=20 Sent: Thursday, May 09, 2002 8:31 AM Subject: RE: [CANSLIM] Curious in Florida Ian I agree with you about the fuel that was moving the market = yesterday. While the CSCO news got the ball rolling, it appears that = there was heavy short covering that continued push the market higher. =20 E =20 - -----Original Message----- From: Ian [mailto:ianstm@shaw.ca]=20 Sent: Wednesday, May 08, 2002 10:57 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Curious in Florida =20 "The question now to be answered is if this shift back to the many = (most?) beaten down tech stocks, whether big or small" =20 As far as I can tell, todays 'shift' was into the most heavily shorted = issues. For the past 2 years, that kind of manic squeezing hasn't been = indicative of any solid long-term trends. It sure looked like it had = legs today though - I suspect that too many shorts at this stage in the = game can provide more fuel for a while. =20 These kind of gyrations sure seem to make CANSLIM investing more = difficult. =20 Ian =20 =20 ----- Original Message -----=20 From: Tom Worley=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, May 08, 2002 5:59 PM Subject: Re: [CANSLIM] Curious in Florida =20 Chris, my impression today was that my biggest gainers were mostly the = ones that have held up well over the past few weeks (EPIQ being one = example, up 5.5%). My worst performers were ones, for the most part, = that were weak in recent weeks. But my biggest gainer today was OVRL, up = over 31%, despite its recent weakness. =20 My VR Fund was up 3.5%, my IT stocks, comprising 74%, was up 4.9%, so = clearly today was a move back to technology. =20 The question now to be answered is if this shift back to the many = (most?) beaten down tech stocks, whether big or small (CSCO gained 24% = today on its first positive year to year quarter in over a year). =20 Tom Worley stkguru@bellsouth.net AIM: TexWorley ----- Original Message -----=20 From: Vanchee1@aol.com=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, May 08, 2002 6:44 PM Subject: Re: [CANSLIM] Curious in Florida =20 Sometimes we who are close to the market look too deep in what forces = are behind a trend change. In actuality, when the masses go home after = work and hear about this nice rally some will want to jump on the train, = which can keep the momentum going. Bottom line, have a good list of = stocks to watch, and be ready to buy when a market turn is confirmed. As = always buy the quality, even if they did not participate in today's = rally they will come around, break out and surpass most others. = Personally I am 100% invested in stocks and was up only 1% today, yes a = little disappointed, but am glad to be up over 30% so far this year and = look forward to the market turning. Enjoy, Chris=20 ****************************************************************** This email and any files transmitted with it from the ElPaso=20 Corporation are confidential and intended solely for the=20 use of the individual or entity to whom they are addressed.=20 If you have received this email in error please notify the=20 sender. ****************************************************************** - ------=_NextPart_000_02EC_01C1F735.0350D140 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
after going thru all the indexes this morning, = however, I=20 think there was a lot more to it than that. I have been saying for a = long time=20 that there is a lot ($3 trillion, last report I saw) of money that is = sidelined.=20 Much of this is institutional, and wants to get back in, and much of = that will=20 flow to the past big names and big winners, many (most?) of which are = battered=20 down and would be of little interest to us here. CSCO is but one example = of=20 that. Most of them in the tech arena did very well yesterday. I have no = doubt=20 some of that was short covering, but I think if we had a way to measure=20 sidelined cash on a daily basis, we would see a tremendous amount was = moving=20 back in.
 
Looking at the indexes, it appeared the ones = that had been=20 doing the best, such as the Russell 2000, were up the least. And the = worst=20 performers lately, Nasdaq heading that category, had the biggest gains. = This=20 tells me there was also a lot of "value shopping" going on, exactly the = kind of=20 mentality I expect from most institutional investors.
 
If Wed's trading was dominated solely by short = covering,=20 then it is unlikely to last, as shorters will lick their wounds if they = didn't=20 cover for a net gain, then short again at a higher price if the rally = persists=20 more than a day or two.
 
Tom Worley
stkguru@bellsouth.net
AIM:=20 TexWorley
----- Original Message -----=20
From: Hill, Ernie=20
Sent: Thursday, May 09, 2002 8:31 AM
Subject: RE: [CANSLIM] Curious in Florida

Ian I agree = with you=20 about the fuel that was moving the market yesterday. While the CSCO news = got the=20 ball rolling, it appears that there was heavy short covering that = continued push=20 the market higher.

 

E

 

-----Original=20 Message-----
From: = Ian=20 [mailto:ianstm@shaw.ca]
Sent:=20 Wednesday, May 08, 2002 10:57 PM
To: canslim@lists.xmission.com=
Subject: Re: [CANSLIM] Curious in = Florida

 

"The question now to be = answered is=20 if this shift back to the many (most?) beaten down tech stocks, whether = big or=20 small"

 

As far as I can tell, todays = 'shift' was=20 into the most heavily shorted issues. For the past 2 years, that kind of = manic=20 squeezing hasn't been indicative of any solid long-term trends. It sure = looked=20 like it had legs today though - I suspect that too many shorts at this = stage in=20 the game can provide more fuel for a = while.

 

These kind of gyrations sure = seem to make=20 CANSLIM investing more difficult.

 

Ian

 

 

----- Original Message = - -----=20

From: Tom Worley=20

To: canslim@lists.xmission.com= =20

Sent:=20 Wednesday, May 08, 2002 5:59 PM

Subject: Re:=20 [CANSLIM] Curious in Florida

 

Chris, my impression = today was=20 that my biggest gainers were mostly the ones that have held up well = over the=20 past few weeks (EPIQ being one example, up 5.5%). My worst performers = were=20 ones, for the most part, that were weak in recent weeks. But my = biggest gainer=20 today was OVRL, up over 31%, despite its recent=20 weakness.

 

My VR Fund was up 3.5%, = my IT=20 stocks, comprising 74%, was up 4.9%, so clearly today was a move = back to=20 technology.

 

The question now to be = answered is=20 if this shift back to the many (most?) beaten down tech stocks, = whether big or=20 small (CSCO gained 24% today on its first positive year to year = quarter in=20 over a year).

 

Tom Worley
stkguru@bellsouth.net
AIM:=20 TexWorley

----- Original Message = - -----=20

From: Vanchee1@aol.com=20

To: canslim@lists.xmission.com= =20

Sent:=20 Wednesday, May 08, 2002 6:44 PM

Subject: Re:=20 [CANSLIM] Curious in Florida

 

Sometimes=20 we who are close to the market look too deep in what forces are behind = a trend=20 change. In actuality, when the masses go home after work and hear = about this=20 nice rally some will want to jump on the train, which can keep the = momentum=20 going. Bottom line, have a good list of stocks to watch, and be ready = to buy=20 when a market turn is confirmed. As always buy the quality, even if = they did=20 not participate in today's rally they will come around, break out and = surpass=20 most others. Personally I am 100% invested in stocks and was up only = 1% today,=20 yes a little disappointed, but am glad to be up over 30% so far this = year and=20 look forward to the market turning.


Enjoy, =20 Chris=20



********************************************************= **********
This=20 email and any files transmitted with it from the ElPaso
Corporation = are=20 confidential and intended solely for the
use of the individual or = entity to=20 whom they are addressed.
If you have received this email in error = please=20 notify the=20
sender.
**********************************************************= ********
 - ------=_NextPart_000_02EC_01C1F735.0350D140-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #2410 ****************************** 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.