From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #266 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 Wednesday, June 3 1998 Volume 02 : Number 266 In this issue: [CANSLIM] Market [CANSLIM] HCFP Re: [CANSLIM] HCFP--Dave Re: [CANSLIM] Market Re: [CANSLIM] Market [CANSLIM] Re: A Quick Question [CANSLIM] Head & Shoulders Top for the Nasdaq composite [CANSLIM] Nasdaq Head & Soulders Chart Pattern Re: [CANSLIM] H&S Top for the Nasdaq--Deral [CANSLIM] H&S Top Re: [CANSLIM] My watch list Re: [CANSLIM] HCFP Re: [CANSLIM] Market Re: [CANSLIM] Head & Shoulders Top for the Nasdaq composite [CANSLIM] Tom's...a drum roll please [CANSLIM] Ouccch!! Dow and NASDAQ down 86 and 19 in last hour Re: [CANSLIM] Head & Shoulders Top for the Nasdaq composite RE: [CANSLIM] Ouccch!! Dow and NASDAQ down 86 and 19 in last hour [CANSLIM] need information Re: [CANSLIM] need information Re: [CANSLIM] 3 Line EMA Re: [CANSLIM] 3 Line EMA [CANSLIM] PRARS Top 50 Re: [CANSLIM] 3 Line EMA [CANSLIM] 3 line EMA's Re: [CANSLIM] Tom's...a drum roll please Re: [CANSLIM] need information Re: [CANSLIM] PRARS Top 50--Bill Re: [CANSLIM] need information--Tom Re: [CANSLIM] need information--Tom Re: [CANSLIM] need information--Tom Re: [CANSLIM] need information--Tom [CANSLIM] Volatile Market RE: [CANSLIM] Volatile Market Re: [CANSLIM] Head & Shoulders Top for the Nasdaq composite [CANSLIM] News Items - LBOR WSTF Re: [CANSLIM] Re: [CANSLIM] need information--Tom ---------------------------------------------------------------------- Date: Tue, 02 Jun 1998 23:35:54 -0500 From: Dave Cameron Subject: [CANSLIM] Market As many have pointed out (but not recently) the market has not been friendly for longs in about 2 months. The indexes haven't fared too badly, but the A/D line has been down. Lately (in the past week), the A/D line seems to have reversed. This could be a precursor to some sort of rebound. It could also be a fluke. Regardless, I'm cautiously back in. Dave Cameron - - ------------------------------ Date: Tue, 02 Jun 1998 23:37:14 -0500 From: Dave Cameron Subject: [CANSLIM] HCFP If anyone is interested in a CANSLIM stock, check out HCFP. EPS/RS are both 95+ last time I looked. Small stock, not a lot of shares. Less than 20% institutional sponsorship. Good move in the past 2 days. Dave Cameron - - ------------------------------ Date: Tue, 2 Jun 1998 21:46:09 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] HCFP--Dave <> Funny you should mention this. It's one of only two out of over two thousand that showed up on my scans this evening. Six-week base with a "little dipper" on the end, MACD is turning positive, both the stochastic and the RSI turned positive early last week, positive days have been stronger than negative days, and the 50d provided support. The risk/reward is not what I'd like as it will probably have difficulty pushing through 53, but the downside seems limited. If you kept a tight rein on it, it might be worth nibbling at. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 02 Jun 1998 22:59:45 -0500 From: Luke Lang Subject: Re: [CANSLIM] Market Dave, I don't see any reversal in the NASDAQ A/D line. As for the NYSE, the A/D line was lower four days ago as compared with today. It then rose for two days and fell for two days. I wouldn't call this a reversal yet. The new high vs. new low is still not favorable. You may be right that this may be a turning point, but I wouldn't bet on it. Oops, I mean I wouldn't go long just yet - not until more indicators turn around. Good luck. Luke Lang Dave Cameron wrote: > > As many have pointed out (but not recently) the market has not > been friendly for longs in about 2 months. The indexes haven't > fared too badly, but the A/D line has been down. Lately (in > the past week), the A/D line seems to have reversed. This could > be a precursor to some sort of rebound. It could also be a > fluke. Regardless, I'm cautiously back in. > > Dave Cameron > > - - - ------------------------------ Date: Wed, 3 Jun 1998 06:01:37 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Market Luke and Dave, I would have to agree with Luke's perspective on this. Looking at the A/D (Advance/Decline not Accumulation/Distribution, in case anyone was confused about these two identically abbreviated indicators and must be read in context, one refering to the mkt and the other more to individual stocks) it seems to me that it is indecisive. Adding in the new highs/lows as an indicator, it still appears negative for the moment, altho both do offer some hope we are reaching the end of this now obvious correction. Last week clearly showed me what I saw as a consolidation was finally resolved, unfortunately to the downside. The extreme volatility may be suggesting bargain hunters stepping in with some of the sidelined cash, but still too early to be sure. I am scaling back in, bot one stock yesterday and not done on another order, may try again today, altho looks like a stronger day. But I'm creeping back in more because of MACD telling me to than because of any change in opinion in "M". And was particularly concerned with an airhead media report this morning coming from a brokerage house (Merrill Lynch??) to the effect that they are expecting the Asian problems to slow the US economy and now expect the next move by the Feds will be to cut rates. That's all we need right now, build up false hope of an event that is virtually impossible to happen based on both everything the Feds have been consistently saying and the actual economic data being reported. In 4-6 months, if the slowdown is sufficiently severe enough, then this might be a valid issue to speculate on, but not today. Tom W - -----Original Message----- From: Luke Lang To: canslim@lists.xmission.com Date: Wednesday, June 03, 1998 2:01 AM Subject: Re: [CANSLIM] Market >Dave, > >I don't see any reversal in the NASDAQ A/D line. As for the NYSE, >the A/D line was lower four days ago as compared with today. It >then rose for two days and fell for two days. I wouldn't call this >a reversal yet. The new high vs. new low is still not favorable. >You may be right that this may be a turning point, but I wouldn't >bet on it. Oops, I mean I wouldn't go long just yet - not until >more indicators turn around. Good luck. > >Luke Lang > >Dave Cameron wrote: >> >> As many have pointed out (but not recently) the market has not >> been friendly for longs in about 2 months. The indexes haven't >> fared too badly, but the A/D line has been down. Lately (in >> the past week), the A/D line seems to have reversed. This could >> be a precursor to some sort of rebound. It could also be a >> fluke. Regardless, I'm cautiously back in. >> >> Dave Cameron >> >> - > >- > - - ------------------------------ Date: Wed, 3 Jun 1998 07:47:17 -0400 From: "Tom Worley" Subject: [CANSLIM] Re: A Quick Question Chris, nice list of larger cos, am including the group on my reply for their info as well. GPS - The Gap - good CS elements, RS 95, EPS 94, Timeliness and A/D both A, u/d a strong 2.1, GRS 96, has a non-standard fiscal year ending Jan, did 1.30 for 98, est for 99 is 1.65 up 27% which exceeds its 5 yr growth rate of 23%. Came off a nice (but short) base at the 45-46 range, been more volatile since and likely needs more basing action. Funds have 20% already, but management still owns 30% of this moderately large cap stock. Chart otherwise looks decent. COF - Capital One Financial - similar comments to above, RS 98, EPS 91, Timeliness A, A/D B, u/d 1.6, funds 31% tho and management only 5% so would dimish its CANSLIM criteria on the "I", altho only has 65 mil shares outstanding so still in the "S" category in today's market. Well extended at 100 from its 200DMA at 63, and may need more basing action. Kinda a LLUR (lower left upper right) chart. USTR - United Stationers - RS and EPS both 94, Timeliness and A/D both B, u/d a negative 0.6, funds also a negative at 33% offset by management at 39%, debt very high at 221% and I am not aware of this being normal for its industry (retail/wholesale office supplies). GRS at 71. Growth rate is 59% however current year forecast is only 13% and 15% for next year. Latest qtr earnings fell below the previous qtr even tho sales were much stronger, suggesting to me either problems with higher margin product mix or other internal changes. Chart is basing, but above comments would suggest caution on this one. BBY - Best Buy - I have a personal bias against this one, as they wouldn't accept my personal check for a purchase because I use a PO Box address, even tho I had a driver's license with my home address, and the acct was over 10 years old (check number well into the thousands). Stupid corporate policy I have not encountered with any other company in town, so won't shop there. Ended up getting a better price from their competition. Still, RS 99 despite a recent slump in price, EPS 75, Timeliness A, A/D B, u/d a weak 0.8, GRS is 99, growth rate is unknown, fiscal year ended Feb with 1.04 earned, forecast for 99 is 1.35 (up 30%). Debt is high at 79% but don't know if this is unusual for an electronics retailer with high inventory of big ticket items, funds only 9% (I think it used to be much higher) and management at 25%. NT - Northern Telecom - RS 83, EPS 93, Timeliness and A/D both B, u/d a weak 0.7, funds 22%, but management only 1%, growth rate 48% while earnings forecast for this year and next at a still strong 22% and 21%. One caution on this is that BCE Inc already owns 52% of the stock, so they control the company and can pretty much do whatever they want. A new CEO in 10/97 would be bullish, assuming he has full control from BCE. A large cap, so fails the "S" aspect. Tom W - -----Original Message----- From: Chris Reid To: 'Tom Worley' Date: Tuesday, June 02, 1998 9:05 PM Subject: A Quick Question I sent out a post to the group asking there opinions on a number of stocks I liked, and was thinking of buying. No one responded, I didn't think they were that bad. Anyhow, maybe you could give me your opinion on them. The Gap (GPS) Capital One Financial Corporation (COF) United Stationers Inc (USTR) Best Buy Co (BBY) Northern Telecom (NTL ?) I got in and out of this one during my last work term, I worked there but am thinking about it again - - ------------------------------ Date: Wed, 3 Jun 1998 10:44:44 -0400 From: "Deral Rackley" Subject: [CANSLIM] Head & Shoulders Top for the Nasdaq composite I purchased an "Introduction to Technical Analysis" book at Barnes & Nobles a couple of weeks ago and have been trying to learn "TA" from it. (The book is actually on CD Rom. The author verbally describes a technique and illustrates it on a chart...using your computer). Last night, I applied the "Head & Shoulders" lesson to the NASDAQ composite. It looks like a textbook case with the Head occuring on April 22 and volume being lower at the left shoulder & head than at the right shoulder. If you project the target price from the neckline, you get a target at 1700 for the NASDAQ composite. If I remember correctly, someone else gave a projection of 1700 for the NASDAQ bottom a few weeks ago; but I don't know if he (she) was using this technique. Using the same technique for the DJIA, you get a target of 8300. Before getting this book, I had identified a 1-2-3 top for the Nasdaq. It looks like (at least in this case), the 1-2-3 top is the right side of the head & shoulders. The use of 1-2-3 tops & bottoms is popular in commodities trading. I don't recall this technique being used for stock trading. I don't think 1-2-3 Tops & Bottoms are in Pring's book. I realize that in order to be helpful; the head & shoulders formation should have been seen after the left soulder. But, this is a good lesson for me for the future. Any comments from Connie Mack, Jeffrey, DP, Bill, Patrick, etc.??? - - ------------------------------ Date: Wed, 3 Jun 1998 10:47:15 -0400 From: "Deral Rackley" Subject: [CANSLIM] Nasdaq Head & Soulders Chart Pattern Canslim members: I purchased an "Introduction to Technical Analysis" by Martin Pring at Barnes & Noble a couple of weeks ago and have been studying "TA" using it since then. (Interesting book-you load it into your computer using CD Rom-the author describes the lesson & illustrates/points to what he is teaching on charts). I had identified earlier a "1-2-3 Top" for the NASDAQ composite from a IBD chart (not part of this book). Last night, I looked at the June 2 IBD chart and identified a Head and Shoulders Top for the NASDAQ composite with the head April 22. It looks like a textbook head & shoulders top with volume greater on the left shoulder and head, than the right shoulder. If you draw a neckline connecting the lows of the left & right shoulder and measure the distance from the neckline to the low of the head; then use the same distance from the neckline down you can project a price target of 1700 for the NASDAQ composite. - - ------------------------------ Date: Wed, 3 Jun 1998 08:10:57 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] H&S Top for the Nasdaq--Deral <> That was me (he), and no, I wasn't. But one more nail in the coffin doesn't hurt. Unless you're in the coffin. You may be correct in your interpretation. The problem with H&S patterns is that it takes a while to see them. And often people see them where they don't exist, like Cups and Handles. But like C&H patterns, it helps to avoid mistakes if you focus on why the pattern is evolving rather than look for the pattern itself. Basically the pattern results from an attempt and subsequent failure to make a new high. Somebody said AEOS was showing a H&S pattern but I hadn't even noticed. I just saw that it was failing more than once to make a new high and shorted it, retail or no retail. Volume, of course, is important as well. You want to see an anemic attempt at subsequent attempts, and that was certainly the case the last week of April. As far as the downside target, we aren't that far away from it, so I guess we'll just have to wait and see whether or not we stop there. The Dow, on the other hand, is a different story. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 3 Jun 1998 12:53:03 -0400 From: "Deral Rackley" Subject: [CANSLIM] H&S Top Thanks for the reply, DP. I apololize for sending the same message twice. The first time, the message dissappeared from my screen before I was finished and wasn't in my outbox; so...I started all over again. Deral - - ------------------------------ Date: Tue, 02 Jun 1998 21:46:13 -0700 From: Michelangelo Subject: Re: [CANSLIM] My watch list I bought LAKE @ 7 1/2 and sold it @ 11. Although i made a small profit from it, I found the volumn is too small. The price will drop everytime I put a sell order and the price will up when I put a buy order. In short, it is not a very liquidate stock. However, it has new product and the earning growth rate is good. It has been going up up up up... like the Energizer bunny! Tom Worley wrote: > > Deleted several, added several more. Here's what is left: > > CAER, EPIQ, FTIC, GCABY, ILOGY, INSUA, MDLK, MINI, RELL, RIMG, RUSH, > SNHY, SUPI, TMBS, TXCC, VARL, BVRTF, LAKE, JAII. > > I'm still backtesting an improved "timing" approach to CANSLIM, at > least to micro and small cap stocks. Hope to post it shortly. > > Tom W > > - - - ------------------------------ Date: Wed, 3 Jun 1998 11:29:05 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] HCFP > Date: Tue, 02 Jun 1998 23:37:14 -0500 > From: Dave Cameron > If anyone is interested in a CANSLIM stock, check out HCFP. > EPS/RS are both 95+ last time I looked. Small stock, not > a lot of shares. Less than 20% institutional sponsorship. > Good move in the past 2 days. I think I mentioned HCFP here last Feb. Another one I have been watching is Atlantic Coast Airlines (ACAI). In spite of the terrible performance of the Dow Transport index, it has held its own pretty well. It is forming a short base right now on lower volume. I am not sure it will be able to make any headway as long as the rest of the group is performing so poorly, but it is worth watching. - - ------------------------------ Date: Wed, 3 Jun 1998 11:29:05 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Market > Date: Tue, 02 Jun 1998 23:35:54 -0500 > From: Dave Cameron > As many have pointed out (but not recently) the market has not > been friendly for longs in about 2 months. The indexes haven't > fared too badly, but the A/D line has been down. Lately (in > the past week), the A/D line seems to have reversed. This could > be a precursor to some sort of rebound. It could also be a > fluke. Regardless, I'm cautiously back in. It did reach an oversold level, it was due for a bounce at least in here. One thing I have been tracking lately is a 5 day average of advances minus declines. When this gets under -500, which is pretty awful, a bounce is due. We got to that level last week. - - ------------------------------ Date: Wed, 3 Jun 1998 11:55:29 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Head & Shoulders Top for the Nasdaq composite > From: "Deral Rackley" > I realize that in order to be helpful; the head & shoulders formation should > have been seen after the left soulder. But, this is a good lesson for me > for the future. > > Any comments from Connie Mack, Jeffrey, DP, Bill, Patrick, etc.??? I think you mean the right shoulder, at least as I look at the things. Anyway, I mentioned this thing showing up several weeks ago. Same pattern formed in the Russell 2000, which has really broken down in the last few weeks. I took it as a warning sign at the time. They don't always produce a lower market. Since you are reading a Tech. Analysis book, you might find the chart of ACAI I posted informative (http://home.att.net/~pwahl). - - ------------------------------ Date: Wed, 3 Jun 1998 15:50:57 -0400 From: "Deral Rackley" Subject: [CANSLIM] Tom's...a drum roll please Tom Worley; I appreciate your sharing your ideas with us combining CANSLIM with TA for entry and exit timing. I have the same objective in mind and your detailing of your approach is very helpful. The primary difference between your approach and what I have been doing is time frame. I haven't considered backing back as far as one year and taking a look. My longest time frame has been three months for my final screening after CANSLIM and 2-5 days for entry. I haven't thoroughly tested your approach as of yet, but I plan to do some trials. I appreciate the benefit of your experience and expertise. One question? How do you set your 3 line EMA using 10,50, 200 using big charts? Big charts, by their explanation in their Help section and by experience, uses the number that you input for the first ma line, doubles it for the second line, and triples it for the third line. Thanks DERAL - - ------------------------------ Date: Wed, 03 Jun 1998 16:01:02 -0400 From: Peter Newell Subject: [CANSLIM] Ouccch!! Dow and NASDAQ down 86 and 19 in last hour Dow lost 87 points and Nasdaq down 19 pts in last hour today. Thurs June 3. Peter Newell - - ------------------------------ Date: Wed, 3 Jun 1998 16:10:28 -0400 From: "Deral Rackley" Subject: Re: [CANSLIM] Head & Shoulders Top for the Nasdaq composite Patrick Wahl replied: I think you mean the right shoulder, at least as I look at the things. Anyway, I mentioned this thing showing up several weeks ago. Same pattern formed in the Russell 2000, which has really broken down in the last few weeks. I took it as a warning sign at the time. They don't always produce a lower market. Since you are reading a Tech. Analysis book, you might find the chart of ACAI I posted informative (http://home.att.net/~pwahl). - -Yes! I'm sorry for any confusion. Definitely the right shoulder. I checked the chart for the Ascending Triangle for Atlantic Coast Airlines. Thanks for the example and explanation. I noticed that you use TradeStation by Omega Research and MetaStock other times (ex. Three Com chart). Any preference. Is either one also good for screening for CANSLIM companies. Who do you use for data feeds. Thanks for your reply Deral - - ------------------------------ Date: Wed, 03 Jun 1998 13:35:06 -0700 From: Bob Jagow Subject: RE: [CANSLIM] Ouccch!! Dow and NASDAQ down 86 and 19 in last hour You got my attention, Peter. Hats off to you if you meant Thurs June 4 and turn out to be anywhere close ;) - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Peter Newell Sent: Wednesday, June 03, 1998 1:01 PM To: canslim@lists.xmission.com Subject: [CANSLIM] Ouccch!! Dow and NASDAQ down 86 and 19 in last hour Dow lost 87 points and Nasdaq down 19 pts in last hour today. Thurs June 3. Peter Newell - - - - ------------------------------ Date: Wed, 3 Jun 1998 16:41:58 -0400 From: Chris Reid Subject: [CANSLIM] need information I was wondering if anyone knows of a site where you can retrieve Relative Strength ratings on companies - - ------------------------------ Date: Wed, 3 Jun 1998 13:51:07 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] need information <> Do you want to know which companies have RS higher than some number or do you want to be able to look up a company and find its RS? If the latter, no, except for DG, and DG covers only a limited number of companies. If the former, there are at least three places you can go to get screens. If you're interested, I'll put them together for you. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 3 Jun 1998 15:17:36 -0700 From: Bill Subject: Re: [CANSLIM] 3 Line EMA Type the 3 EMA periods into the EMA variables box and separate the periods by a comma. eg 10,50,200 - then save the settings. Bill-->. - -------- At 12:50 PM -0700 6/3/98, Deral Rackley wrote: > >One question? How do you set your 3 line EMA using 10,50, 200 using big >charts? Big charts, by their explanation in their Help section and by >experience, uses the number that you input for the first ma line, doubles it >for the second line, and triples it for the third line. > >Thanks >DERAL > > >- - - ------------------------------ Date: Wed, 3 Jun 1998 15:17:36 -0700 From: Bill Subject: Re: [CANSLIM] 3 Line EMA Type the 3 EMA periods into the EMA variables box and separate the periods by a comma. eg 10,50,200 - then save the settings. Bill-->. - -------- At 12:50 PM -0700 6/3/98, Deral Rackley wrote: > >One question? How do you set your 3 line EMA using 10,50, 200 using big >charts? Big charts, by their explanation in their Help section and by >experience, uses the number that you input for the first ma line, doubles it >for the second line, and triples it for the third line. > >Thanks >DERAL > > >- - - ------------------------------ Date: Wed, 3 Jun 1998 15:37:49 -0700 From: Bill Subject: [CANSLIM] PRARS Top 50 PRARS Top 50 Financial Websites Numerical Ranking for the month ending Friday, May 31, 1998: 1 www.fool.com 29 www.lowrisk.com 2 www.flash.net/~hesler 30 www.quote.com 3 www.techstocks.com 31 www.morningstar.net 4 www.bigcharts.com 32 www.stockmaster.com 5 www.zacks.com 33 www.wallstreetcity.com 6 www.etrade.com 34 www.smartmoney.com 7 www.cnnfn.com 35 www.doh.com 8 investor.msn.com 36 www.wadecook.com 9 www.qfn.com 37 www.investorguide.com 10 www.schwab.com 38 www.researchmag.com 11 www.thestreet.com 39 www.stocksmart.com 12 www.iionline.com 40 www.cnbc.com 13 www.investorama.com 41 www.dbc.com 14 www.prars.com 42 www.investools.com 15 www.briefing.com 43 www.moneynet.com 16 www.nasdaq.com 44 www.stocksite.com 17 www.vectorvest.com 45 www.discoverbrokerage.com 18 www.daytraders.com 46 www.marketguide.com 19 www.taylortrader.com 47 cbs.marketwatch.com 20 www.waterhouse.com 48 www.agedwards.com 21 www.datek.com 49 www.merrill-lynch.com 22 www.dailystocks.com 50 www.stockwiz.com 23 www.dljdirect.com 24 www.fidelity.com 25 www.wsrn.com 26 www.hoovers.com 27 www.bloomberg.com 28 www.stockresearch.com - - ------------------------------ Date: Wed, 3 Jun 1998 16:31:13 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] 3 Line EMA <> And don't be too bound by the 10, 50, and 200. Not all stocks pay attention to the same MAs (some don't pay any attention at all). If you see your stock regularly penetrating the 10 just to the downside, try a 17 or 20. These are also common short-term MAs. If you notice it just stopping short of the 50 or the 200, try a 40 or a 150, which are also common. And always try simple as well as exponential MAs. They are often very close together, but not always, and some stocks follow one more than the other. You'll figure out which soon enough. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 3 Jun 1998 20:15:17 -0400 From: "Deral Rackley" Subject: [CANSLIM] 3 line EMA's Thanks Bill & DP! I appreciate your tutelage on the EMA's. Deral - - ------------------------------ Date: Wed, 3 Jun 1998 20:23:58 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Tom's...a drum roll please Simple, and thanks again to one of our group members that discovered how to set the moving average to whatever numbers you want. Click on the window for the values, clear it, enter (in my case) 10, 50, 200 and your are all set. Don't remember if I mentioned that I started with a five day chart using 15 minute data using Connie's 3, 7, 10 MA. Now, I start with a 12 month chart to see how consistently the MACD has been tracking, thus how trustworthy is it in the future. Those that pass, I then look at on a 3 month chart, and those that still look promising I look at on a one month chart. Tom W - -----Original Message----- From: Deral Rackley To: CANSLIM Date: Wednesday, June 03, 1998 3:55 PM Subject: [CANSLIM] Tom's...a drum roll please >Tom Worley; > >I appreciate your sharing your ideas with us combining CANSLIM with TA for >entry and exit timing. I have the same objective in mind and your detailing >of your approach is very helpful. The primary difference between your >approach and what I have been doing is time frame. I haven't considered >backing back as far as one year and taking a look. My longest time frame >has been three months for my final screening after CANSLIM and 2-5 days for >entry. I haven't thoroughly tested your approach as of yet, but I plan to >do some trials. I appreciate the benefit of your experience and expertise. > >One question? How do you set your 3 line EMA using 10,50, 200 using big >charts? Big charts, by their explanation in their Help section and by >experience, uses the number that you input for the first ma line, doubles it >for the second line, and triples it for the third line. > >Thanks >DERAL > > - - ------------------------------ Date: Wed, 3 Jun 1998 20:28:21 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] need information On the other hand, DG Online covers ALL stocks, just doesn't let you screen for them other than the top 100 or so. Tom W - -----Original Message----- From: dbphoenix To: canslim@lists.xmission.com Date: Wednesday, June 03, 1998 4:46 PM Subject: Re: [CANSLIM] need information ><Relative Strength ratings on companies>> > >Do you want to know which companies have RS higher than some number or >do you want to be able to look up a company and find its RS? If the >latter, no, except for DG, and DG covers only a limited number of >companies. If the former, there are at least three places you can go >to get screens. If you're interested, I'll put them together for you. > >--Db > > > > > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > - - ------------------------------ Date: Wed, 3 Jun 1998 17:47:27 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] PRARS Top 50--Bill Thanks for the list, Bill. I went through the ones I wasn't familiar with or that I hadn't checked in a while, and I discovered that the stocksite.com site provides up to three years of quarterly data. That's a first (unfortunately, it seems to include extraordinary charges and gains, but beggars . . .). Thanks again. (Also hadn't realized investorama had revamped so thoroughly. Definitely worth a revisit.) - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 3 Jun 1998 17:59:17 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] need information--Tom <> When I was part of the beta test, the total number of stocks in the index (for the download) was only around 3000. Are they now covering all 12000 (or whatever)? - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 3 Jun 1998 21:25:39 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] need information--Tom While I was beta testing, I found every stock there except for the oddities such as a new issue within the past week (only updated weekly), stocks still trading in units (altho often the common was there if it was trading separately), preferred stocks, stocks that had done a reverse split (thus trading with a "D" at the end of the symbol for when issued), bulletin board stocks, etc. On the few occasions that I encountered a stock I thought should be there and wasn't, the reason fell into the above. I never tried to download the index or any other "group", just individual charts, so can't speak to what may have been available for that. But there were definitely far more there than in the DG books, and as far as I could tell, all were there. Tom W - -----Original Message----- From: dbphoenix To: canslim@lists.xmission.com Date: Wednesday, June 03, 1998 8:54 PM Subject: Re: [CANSLIM] need information--Tom ><screen for them other than the top 100 or so. > >Tom W>> > >When I was part of the beta test, the total number of stocks in the >index (for the download) was only around 3000. Are they now covering >all 12000 (or whatever)? > >--Db > > > > > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > - - ------------------------------ Date: Wed, 3 Jun 1998 18:43:27 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] need information--Tom < Subject: Re: [CANSLIM] need information--Tom Ones without Data Blocks were the ones not covered in the book version, which is one of the advantages of the online over book (along with timeliness of delivery, no shipping and handling, daily updated data, etc) And you forget, db, I don't screen for high RS or EPS, I start with stocks already hitting new highs (thus somebody must love them whatever the noise or causal factor) then manually screen them for the "pick of the litter" with both top drawer RS and EPS and other CS data. This method helps me screen out a lot of the "noise" that others have complained about, I saw many stocks on the new high list with RS 99 and absolutely nothing else to encourage any action other than shorting or barfing, or both. I think I lost Excel on my last hard drive change out, and am to cheap to buy it or Lotus. Tom W - -----Original Message----- From: dbphoenix To: canslim@lists.xmission.com Date: Wednesday, June 03, 1998 9:40 PM Subject: Re: [CANSLIM] need information--Tom ><oddities . . ." > >Looks like we had different experiences. Quite a few of the stocks I >looked for weren't there, and a large number had no datablocks. Ah, >well. > >I'm surprised you never downloaded the index, though. Once you >download it to Excel (or Lotus), you can sort by RS, EPS or any other >column. Makes it easier to find what you want if that's how you go >about looking for stocks. > >--Db > > > > > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > - - ------------------------------ Date: Wed, 3 Jun 1998 22:19:16 -0400 From: "Tom Worley" Subject: [CANSLIM] Volatile Market Boy, has volatility become the buzzword for "market". As of 10:15PM EST, tho, NASDAQ is remaining in a rally mode, however short it may be, now up almost 15 pts for over a 1.3% gain. Trouble is, we've seen this before, only to see it close down on the next trading day. S&P100 also up, altho not so much, more like a third of a percentage. Tom W - - ------------------------------ Date: Wed, 3 Jun 1998 22:40:24 -0400 From: "Nelson E. Timken, Esq." Subject: RE: [CANSLIM] Volatile Market What do you foresee long term Tom, a continuation of the volatility searching for some reassurance? Intel at 65 and change looks awfully inviting long term. Nelson E. Timken J.N. Capital, Inc. Douglaston, New York - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Tom Worley Sent: Wednesday, June 03, 1998 10:19 PM To: CANSLIM Subject: [CANSLIM] Volatile Market Boy, has volatility become the buzzword for "market". As of 10:15PM EST, tho, NASDAQ is remaining in a rally mode, however short it may be, now up almost 15 pts for over a 1.3% gain. Trouble is, we've seen this before, only to see it close down on the next trading day. S&P100 also up, altho not so much, more like a third of a percentage. Tom W - - - - ------------------------------ Date: Wed, 3 Jun 1998 19:42:01 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Head & Shoulders Top for the Nasdaq composite > From: "Deral Rackley" > I noticed that you use TradeStation by Omega Research and MetaStock other > times (ex. Three Com chart). Any preference. Actually, I mostly use Tradestation for posting the charts because it is easier to get it into a good format for converting to a GIF file. I use tc2000 quite a bit, and the other two a little bit for looking at the charts. I am more of a chart reader than really into all the technical indicator hocus pocus. > Is either one also good for screening for CANSLIM companies. They are pretty much for technicals, although there is a new version of Metastock that might have more analysis stuff available for fundamentals than the version I have (5.0). Someone on this list, I think it was Db, uses Windows on Wall Street combined with Dial Data, and that sounded good for screening for Canslim. Also, Telescan is very good for CANSLIM, but expensive. Telescan has a real CANSLIM guru working for them, Ian something, who writes a newsletter and I think he has set up some screen that you can use to search their database for CANSLIM stocks. Tradestation is really just for anyone who wants to daytrade futures, which I only do when I feel like losing money. Otherwise, you don't need all that stuff for end of day stock analysis. > Who do you use for data feeds. TC2000, although I think I will give Quotes Plus a try in a few months. Has gotten good reviews from Peter C. on this list. - - ------------------------------ Date: Wed, 3 Jun 1998 19:48:54 -0700 (PDT) From: Tim Fisher Subject: [CANSLIM] News Items - LBOR WSTF Couple of items on recently discussed stocks... * LABOR READY INC reported year-to-date revenue for the 21 weeks, ended May 29, were a record $175.1 million, an increase of 79% from revenue of $97.8 million for the same period last year. In its monthly announcement of sales, the Company also reported revenue for the four weeks ended May 29, rose 77% to a record $43.4 million from $24.5 million for the same period a year earlier. The Company had 448 offices in May 1998 up from 282 offices a year ago. (PR Newswire 07:00 AM ET 06/03/98) For the full text story, see http://www.infobeat.com/stories/cgi/story.cgi?id=2554455573-07f * WESTERN STAFF SERVICES said it intends to repurchase up to 150,000 shares of its outstanding common stock in the open market. The company said in a statement the purchases would be maed at prevailing prices, on a post-split basis, for use in its employee stock purchase plan and its stock option plans. (Reuters 06:29 AM ET 06/03/98) Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Wed, 3 Jun 1998 21:56:57 -0500 From: "Chris McKeever" Subject: Re: [CANSLIM] This is an interesting TA site http://www.taguru.com - - ------------------------------ Date: Wed, 3 Jun 1998 20:43:04 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] need information--Tom <> I guess I'm missing something. I don't see that as an advantage unless they begin providing the data. But, it's not important. Don't have it. Don't want it. Don't intend to get it. It provides you with what you want and that's all that really matters, right? - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ End of canslim-digest V2 #266 ***************************** 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.