From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #302 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 Thursday, June 25 1998 Volume 02 : Number 302 In this issue: Re: [CANSLIM] "W" 's ?? [CANSLIM] Re: Dang! [CANSLIM] A little clarification if you care [CANSLIM] jans & Greg Re: [CANSLIM] Stock lists [CANSLIM] Dang! A bibliography Re: [CANSLIM] Stock lists [CANSLIM] [Not CANSLIM]: Readings on the Asian crisis Re: [CANSLIM] Stock lists Re: [CANSLIM] jans & Greg [CANSLIM] Stock Lists Re: [CANSLIM] Stock lists [CANSLIM] MSPG Re: [CANSLIM] Complelety off topic: How to get rid of this hooters? Re: [CANSLIM] Stock lists [CANSLIM] List of stocks from COMPSOFT & COMPSERV groups that hit new highs on 06/24 Re: [CANSLIM] Stock lists [CANSLIM] Insiders (Off topic) [CANSLIM] RE: FINL: Trading the bounce [2] {Connie} Re: [CANSLIM] Stock lists Re: [CANSLIM] Stock lists Re: [CANSLIM] "W" 's ?? [CANSLIM] Nice Chart Reading Examples & MSPG Re: [CANSLIM]AACE was Stock lists RE: [CANSLIM] Stock lists RE: [CANSLIM] Stock lists Re: [CANSLIM]AACE was Stock lists Re: [CANSLIM] Nice Chart Reading Examples & MSPG RE: [CANSLIM] Stock lists [CANSLIM] buying/selling tactics Re: [CANSLIM]AACE was Stock lists Re: [CANSLIM] Stock lists RE: [CANSLIM] Stock lists RE: [CANSLIM] Stock lists Re: [CANSLIM] Stock lists Re: [CANSLIM]AACE was Stock lists [CANSLIM] Charting sources ---------------------------------------------------------------------- Date: Thu, 25 Jun 1998 09:12:18 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] "W" 's ?? <> Sorry, Deral. Make that "the odds ARE in favor of the buyer". Duh! - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 12:06:06 -0500 (CDT) From: mckeener@ix.netcom.com Subject: [CANSLIM] Re: Dang! Frank V. Wolynski, The author of "Reminiscences of a Stock Operator" is Edwin Lefevre. Regards, Mary - - ------------------------------ Date: Thu, 25 Jun 1998 12:12:48 -0500 (CDT) From: mckeener@ix.netcom.com Subject: [CANSLIM] A little clarification if you care Hello Db, You wrote "Indicators are called indicators because that's what they do--indicate. They don't tell you what to do. Only your intelligence, experience and skill can do that. Indicators should tell you little more than what you already know." Well said and relieves me a bit since I was getting too caught up in this. Mary - - ------------------------------ Date: Thu, 25 Jun 1998 13:14:52 -0400 From: Jeffry White Subject: [CANSLIM] jans & Greg jans, Thanks for the article. Greg, Don't recall ever posting a single criticism of a specific issue, Greg. I have been critical, however, of micro-cap/non-CANSLIM type stocks, like your MSON. Looks to me like you're "prospecting in the junk heap." (that's in the book, somewhere). If my efforts at WON's "M" are not sufficient contribution to your Quarter Horse collection, just read IBD. But, don't forget, they may be a day or two behind in reporting what I hope you will hear first from this group. Jeffry - - ------------------------------ Date: Thu, 25 Jun 1998 10:22:11 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Stock lists <> About this stock list business. I don't want to give the impression that I'm on some sort of moral high road here. We're talking pure selfishness. While this doesn't apply to everybody, I find that--in general, not always--those who squawk loudest about the lack of lists are the least likely to provide any. Not only that, but those who don't provide any are often the first to attack other people's offerings as non-CANSLIM or non-this or non-that or otherwise not worthy of serious comment. And if some of those other people just happen to be novices, these remarks pretty well shut them up for good. Unless they unsubscribe, which amounts to the same thing. When the markets are busy, as they have been for the past few days, I'm at this computer from 5:30 am until the evening. I can't think of any particularly good reason why I should provide the results of that work to hundreds of people who don't even post, much less share the results of their research. I'll provide information on groups I find interesting, if anybody cares, and I'll provide suggestions on what sort of chart patterns to look for. But from that point, the homework has to be done by those willing to do it. Homework means more than reading other people's stock lists. Sorry if this ticks anybody off, but the next person who complains about the lack of lists ought to be prepared to provide one. Likewise, the next person to complain about the quality of posts or the lack of informative posts ought to be prepared to do something about it other than to complain about it or threaten to unsubscribe. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 12:30:08 -0500 (CDT) From: mckeener@ix.netcom.com Subject: [CANSLIM] Dang! A bibliography Hi Dan Musicant, Thanks for the list. I've only read Lefevre and Livermore's books. Both honest, practical and easy-to-read. I'm reading Bernstein's "Capital Ideas". Difficult but gives you an excellent view of how various bright people attempted to view the market. Also read Jim Rogers' "The Investment Biker" - light, informative on several levels, including investment in foreign markets. Regards, Mary - - ------------------------------ Date: Thu, 25 Jun 1998 13:36:22 EDT From: Subject: Re: [CANSLIM] Stock lists Interesting anology that I agree with to an extent. I do however believe that each of us has a unique approach to fishing and have different lures and other equipment. If you have a bass boat with fish finder while I'm armed with a cane pole and red worms chances are you'll catch more fish. While you can relate to me the principles of casting or the use of particular lures it doesn't do me a bit of good if the fish aren't there to attract or I only fish for stripers. A list of stocks that others are watching is not a buy signal for me. What it does is allows me to avoid the cost of screening tools that have been discussed here several times. It also allows me to spend some time with my family rather than combing the pages of IBD or surfing net sites. Since I recieve IBD via snail mail, postings of particular stocks allows me to check earnings, growth, news, group, analysts, etc. in much less time. i.e. it effectively reduces my screening time. If given a list of stocks with CS numbers, TA, or other reasoning it even further reduces the amount of research time. In essence, I am still learning to fish. I am simply using the Evelyn Woodhead speed reading version. In addition, if I don't fish for crappie then I can screen those buggers out leaving fish that are more to my personal liking. If given a particular list of stocks to check periodically (using our own methodology) we in essense are all working together (regardless of discipline) to increase each other's wealth. It is our decision whether we agree or disagree with the poster but we are given a head start on our research. In closing, an argument can be made that while your anology sounds good, it simply doesn't work. As an example look to our wonderful welfare system. No matter how much training or knowledge you provide the welfare rolls continue to increase. Maybe some don't want to fish? Love ya Greg - - ------------------------------ Date: Thu, 25 Jun 1998 10:40:26 -0700 From: Brian Nash Subject: [CANSLIM] [Not CANSLIM]: Readings on the Asian crisis Diverse and generally insightful commentary on the Asian economic crisis: http://www.stern.nyu.edu/~nroubini/asia/AsiaHomepage.html - - ------------------------------ Date: Thu, 25 Jun 1998 10:58:37 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Stock lists <> Much as I respect your intelligence and your opinion, I must disagree. If given a list or lists by certain working members (such as Tom, who doesn't seem to mind), we are not working together in essence or otherwise. Some are working and some are benefiting from the work of others. <> Maybe not. But if the fish were no longer provided and the fisher-to-be were faced with starvation, he'd probably learn to fish PDQ. Your honesty with regard to tools and time is appreciated. However, I'm just not the wonderful human being I'd like to be. I'd feel like a real chump working so many hours and giving it away for nothing in return, even if the something in return were only time spent by someone learning how to do it on his own. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 14:00:29 EDT From: Subject: Re: [CANSLIM] jans & Greg While MSON doesn't meet strict CS criteria it is up over 30% today on increased volume. It was up approximately 14% when I posted the note earlier. I thought that someone on this list might be interested as it had been posted here previously. If it doesn't meet your criteria then disregard the stock and delete my messages. I trades stocks to protect my capital and if possible increase it. I personnaly don't care if the stock is pure CS or not as long as it increases my portfolio value. I've been known to day trade, invest, swing etc. I also like Macro's and have been will occasionally invest in thinly traded stocks. Am I suppose to feel guilty? I will admit that your right in that you don't criticize particular issues. I think your just critical in general. I'll pray for your wife. (if you have one) Oh, and thanks for your "M" commentary. I do appreciate it. Greg - - ------------------------------ Date: Thu, 25 Jun 1998 14:13:58 -0400 From: Jeffry White Subject: [CANSLIM] Stock Lists > About this stock list business. I don't want to give the impression > that I'm on some sort of moral high road here. We're talking pure > selfishness. Unfortunately, I think my reason for not posting lists, or even picks, is more selfish than Db's. Simple answer...I don't want to hear what people think of my stocks. I like to make my own mistakes and have my own successes. If I start listening, I'm more apt to make mistakes which offer no useful educational benefits. Alternatively, if I'm not totally responsible for my successes, it starts to seem to easy. Both short, straight roads to the same destination: loss of trading confidence and focus which leads (me, at least) to disasterous results. Although I've said this before, I'll say it again to stave off the certain attack to come if I don't (and maybe even if I do). I'm a member of this list because the constant reminders form fellow CANSLIM'ers of the particulars of the discipline helps keep it all in my head rather than having my attention diverted by the "C" or the "L" or some other CANSLIM focus. Like reading HTMMIS more than one page at a time. Sorry, no lists, just "M". JW - - ------------------------------ Date: Thu, 25 Jun 1998 20:15:28 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Stock lists Greg, At 01:36 PM 25-06-98 EDT, you wrote: >A list of stocks that others are watching is not a buy signal for me. What it >does is allows me to avoid the cost of screening tools that have been >discussed here several times. Quotes Plus V2 costs less than $50. 1 year of data via the net costs $204.66. Is that too much for you? With QPv2 you can scan the entire stock market for fundamental and technical data. >It also allows me to spend some time with my >family rather than combing the pages of IBD or surfing net sites. Don't you think I would rather spend some time with my family? I work from 9:00 AM 'till 6 PM. Then I go home and watch quotes, look at charts, etc. The market closes at 10 PM Belgian time. I then have a least 1 hour and often 2 hours more work to do. I spend most of my weekend learning about all of this and preparing for the comming week. It is hard work, make no mistake about it. >In closing, an argument can be made that while your anology sounds good, it >simply doesn't work. It might not work for you. If that is so you will have to find a solution that works for you. It might be: Hoping that others will post their watch lists. Been there, done that. In the end it didn't work out for me. Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Thu, 25 Jun 1998 11:22:09 -0700 From: Mike Lucero Subject: [CANSLIM] MSPG I almost placed a buy stop on MSPG last night. I don't know if I would have been happy to be filled or not. Mike - - ------------------------------ Date: Thu, 25 Jun 1998 12:34:02 -0600 From: jeff@scrooge.csd.sdl.usu.edu (Jeff Salisbury) Subject: Re: [CANSLIM] Complelety off topic: How to get rid of this hooters? On Jun 23, 11:37am, wrote: > Subject: Re: [CANSLIM] Complelety off topic: How to get rid of this hooter > > Spammers don't have to get on the list in order to obtain the list. There is a > command that can be issued that will make the list software disgorge the > entire list. > > Douglas Herman > >-- End of excerpt from Douglas, While it is true that our list software supports the command you describe (the command is "who"), each list owner can disable the command for their list. I disabled this command on all my lists about a year ago. D'em spammers won't be get'in anything easy here... Jeff - canslim owner/admin - - ------------------------------ Date: Thu, 25 Jun 1998 14:53:18 EDT From: Subject: Re: [CANSLIM] Stock lists Jans, Of course it's not too much. Maybe I'm not explaining myself well enough. Call me lazy, a communist, whatever but why if were all working together, (are we not?) should every member of the group purchase this software program, IBD, DGO, and the vast array of screening tools available? Why spend hours of time each day screening when if we split the responsibility we all save so much? If I own IBD and do weekly screens on stocks and you own QPv2 and do the same and we share this information with each other we both benefit. Tom throws in his DGO screening information, Connie works the TA side, DB keeps us posted on "M", i.e. everyone contributes and we all win. I suppose I'm being pretty unrealistic. "A" type personalities are not likely to share anything without a known "profit". But could you imagine ten dedicated people sharing ideas and resources openly and honestly without personal attacks? Humm, me neither. Greg - - ------------------------------ Date: Thu, 25 Jun 1998 21:09:43 +0200 From: Johan Van Houtven Subject: [CANSLIM] List of stocks from COMPSOFT & COMPSERV groups that hit new highs on 06/24 Symbol ADV(30) GROUP QRS AUD 488160 COMPSERV 76 CLMT 105183.336 COMPSERV 90 CSC 711890 COMPSERV 84 ETEL 182253.328 COMPSERV 99 INSS 157910 COMPSERV 92 SPEH 368913.344 COMPSERV 92 ASDV 151793.328 COMPSOFT 95 BMCS 2031623.38 COMPSOFT 91 CTXS 971453.312 COMPSOFT 95 DDDDF 135826.672 COMPSOFT 98 LGTO 401300 COMPSOFT 97 MACR 428503.344 COMPSOFT 96 MSFT 12810660 COMPSOFT 85 PRGN 109423.336 COMPSOFT 95 SSW 249756.672 COMPSOFT 87 TMBS 84370 COMPSOFT 98 XNET 87116.6641 COMPSOFT 78 ADV(30) is average daily volume during the last 30 days QRS: Quotes Plus Relative strenght. Somewhat like RS from IBD. The COMPSOFT & COMPSERV groups were the groups with the most new highs. Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Thu, 25 Jun 1998 12:10:59 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Stock lists <> I don't know about Jans, but I can. It's what I do every day with my own group. But in this case you're talking about 10 dedicated people sharing ideas and resources while 790 people listen in. Obviously we're not creating the right conditions for those 790 people to contribute. When we do and they do, we'll all be rich. But as long as everyone remains silent, I'll just keep my list to myself thanks. - --Db (selfish in Phoenix) _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 15:17:11 EDT From: Subject: [CANSLIM] Insiders (Off topic) Interesting site if you want to check insider trading. www.cda.com/investnet/ Greg - - ------------------------------ Date: Thu, 25 Jun 1998 15:17:20 -0400 From: Connie Mack Rea Subject: [CANSLIM] RE: FINL: Trading the bounce [2] {Connie} Members-- I've just closed out my day trade of FINL with a market order. I want to enter another stock that looks promising. I've taken away quite a bit of money today, really more than I expected. I was not sure if Bill thought that my comment to Ari was an instance of a trader having gone awry in his comment. I did say originally that an investor might buy FINL at 28, for the OBV/MF looked good and an entry at 28 would be at a support level. No more had I spoken--perhaps even before--than a brokerage sent FINL into a closing loss of 3 or so. I did say that even for an investor that there was more promise than terror in the breakdown. Even an investor in at 28 had good support at 26.75, which was right at yesterday's close. A trader would see a chance to make money on a bounce. As I close out my trade, the stock is still at 28.87. And I've another trade that shows me some OBVC/MF positive divergence. Overmuch has been made of what is to be inferred from my use of OBV/MF and what it implies. I say how I use it (along with my rocket EMA of 3/7/10, SloSto, and MACD) to macro-screen for stocks. Another says I'm measuring ephemeral and, perhaps, non-existent things. The foreign caveat is: All beware, especially the novice. In a glancing sense, it makes little difference if an indicator measures the cilia of the amoeba or the orbits of the atom and the results therefrom are applied to a successful playing of the market. So a trader says he uses astrological signs to trade the market, and I say that's hooey. But, looking from office window, I cannot fail to note that his house is twice as big and mine lies in its shadow. BigCharts' MoneyFlow is called a misnomer; it is only another word for some variant of accumulation/distribution. BigCharts has twice resisted my request for comment on how MF is scored. Is astrology hidden inside BC's brackets of calculation? Still checked is BC's box that asks if I wish for an answer. But, I get no answer. Not to use an indicator, irrespective of its composition, would be as silly as refusing to take music lessons because the piano is a bourgeois invention. Others seems more prescient. And I cannot but bow down to prescience, especially irrevocable and absolute prescience. There is art in argument as much as there is logic. Because I use the word "trendline" in an iconoclastic way, both art and logic dictate that one lets the use lie; pamper me. Because I use daily charts [and intraday charts] to discern divergences and another uses weekly where divergences are undiscerned, art and logic dictate that you take your choice and let it lie. Because I have for several months thought of my self as a "guest," I spoke more when spoken to and was otherwise silent. A month ago a member kindly chided me for repeating my guest status; so I renounced it. Yesterday, a member less than kindly chided me for forgetting that I was a guest. Both art and logic are confounded. Because I use MoneyFlow, calculated however BigCharts chooses, as a criterion for sorting, both art and logic dictate that one lets the use lie as long as there is no obligation to use it and no secrecy in its application. Too, it has led me to some modicum of success. One ought not hang a particularizing resistance onto every comment, for the resistance begins to act like entangling and annoying cilia. Connie Mack - - ------------------------------ Date: Thu, 25 Jun 1998 15:22:19 EDT From: Subject: Re: [CANSLIM] Stock lists Your right DB. Too bad. So much for the John Lennon approach : ). How does one join a group like you mention? Greg - - ------------------------------ Date: Thu, 25 Jun 1998 12:23:13 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Stock lists <> You don't. You create it. Find 3 or 4 or 10 individuals of like mind and goals and dedication and general adultness and get them together. Set up your rules of contribution and behavior and go to it. You've got hundreds to choose from here. If nothing else, it'll force people to decide just what kinds of investors they are and what their goals are. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 15:01:38 -0400 From: "Deral Rackley" Subject: Re: [CANSLIM] "W" 's ?? > >Does this help? > >--Db Thanks DP!! I APPRECIATE YOUR TIME AND EFFORT IN GIVING ME THIS EXPLANATION. IT DEFINITELY DOES HELP! DERAL - - ------------------------------ Date: Thu, 25 Jun 1998 15:34:48 -0400 From: Craig Griffin Subject: [CANSLIM] Nice Chart Reading Examples & MSPG Here is a short article on CBS Marketplace that is very nice. The author Kevin Marder, talks about the follow through day and shows how the price volume action in some leading stocks can be read. Very much Canslim all the way - although he never mentions the word. http://cbs.marketwatch.com/news/current/marder.htx?source=htx/http2_mw Additionally, here is a comment about MSPG which was apparently written yesterday or before: "With large and small Internet stocks setting all-time highs, is now the time to keep buying? Technicians point to the tremendous buying of these shares. Internet service provider MindSpring (MSPG) in the past five days has seen its stock zero in on the top end of each day's trading range. That's a bullish sign, the technicians say. See Marder on Markets." Here is the link to the page the above came from: http://cbs.marketwatch.com/news/editions/stwatch_tha.htx?dist=yhoo - - ------------------------------ Date: Thu, 25 Jun 1998 15:36:11 -0700 From: David Reid Subject: Re: [CANSLIM]AACE was Stock lists > Ace cash express aace check the chart and give me your opinion .Is it forming a cup and handle. This is on my list. please dont chew me out for it. Dave - - ------------------------------ Date: Thu, 25 Jun 1998 13:00:06 -0700 From: Mike Lucero Subject: RE: [CANSLIM] Stock lists Unfortunately, I have had no luck finding any friends who were interested in investing in the CANSLIM way. Most won't even look at a chart. Mike On Thursday, June 25, 1998 12:23 PM, dbphoenix [SMTP:dbphoenix@yahoo.com] wrote: > < > Greg>> > > You don't. You create it. Find 3 or 4 or 10 individuals of like mind > and goals and dedication and general adultness and get them together. > Set up your rules of contribution and behavior and go to it. You've > got hundreds to choose from here. If nothing else, it'll force people > to decide just what kinds of investors they are and what their goals > are. > > --Db > > > > > > _________________________________________________________ > DO YOU YAHOO!? > Get your free @yahoo.com address at http://mail.yahoo.com > > > > - - ------------------------------ Date: Thu, 25 Jun 1998 13:11:33 -0700 (PDT) From: dbphoenix Subject: RE: [CANSLIM] Stock lists <> What's wrong with the people on this list? You'd be surprised how active people can be when the group is the right size. They'll tell you in sociology that your group sizes should never be past a certain size or people will feel safe leaning back and not participating (if I remember correctly, it's eight). And whoever joins you can participate here and with you. All you have to do is specify your goals, the timeframe you're interested in, the kinds of stocks you like (try to be more specific than "the ones that go up"), what most interests you about CS, etc., then post it and ask anyone who's interested in forming a smaller subgroup to e-mail you directly. There are plenty of people on the master list like Tom and Jeffry and Craig, among others, who'd be happy to answer questions or provide guidance, either privately or publicly (though I really can't speak for them). And this might give everyone in your group more confidence about posting to the larger group so that we don't keep hearing the same voices all the time. At the very least we'd get some new bickering. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 16:25:04 EDT From: Subject: Re: [CANSLIM]AACE was Stock lists Hi Dave, I like your stock. Thank you for sharing. Good earnings, nice growth, etc. C&H ?? I'll leave that to someone else. I too am not fond of being flamed or degraded because of my opinion. TA indicators look relatively strong. What happened today? My major concern would be the companies debt. This deal with Wal-Mart sounds very positive. Tom could give you a much better overview on the fundamentals and look to Connie or Db for possible entry points. Best wishes Greg - - ------------------------------ Date: Thu, 25 Jun 1998 13:32:50 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Nice Chart Reading Examples & MSPG <> Now this is what I call taking a stand (or going out on a limb). Nice article, Craig. Thanks. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 22:31:39 +0200 From: Johan Van Houtven Subject: RE: [CANSLIM] Stock lists Mike, >Unfortunately, I have had no luck finding any friends who were interested in investing in the CANSLIM way. Most won't even look at a chart. > >Mike I don't know if you want to call me a friend yet, but I'm interested. :) Any other knowledgeable QP users out there who are CANSLIM -minded that are also interested in forming such a group? Personally, I'm only interested in a group with knowlegdeable members that have scanning tools and/or another intelligent routine to track down potential CANSLIM movers. And everyone would have to work hard and contribute regularily. I know, by now I have excluded probably 99.5% of all potential candidates. ;^) Maybe DB can give some advice about how to best set up such a group. DB, any particular tips? Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Thu, 25 Jun 1998 13:32:55 -0700 From: Mike Lucero Subject: [CANSLIM] buying/selling tactics Something that I learned from the CANSLIM workshop last November, was that WON would get in and out of his positions in pieces, rather than all at once. So, for the last leg up, I started selling half my position in a stock when I had around 25% profit, and holding the other half until the stock looked like it was topping out. I figured this would be helpful when my stocks started taking big hits as the steam ran out of the market. It did help me feel more comfortable with the few stocks I held into June. For this leg up, I'm going to try something a little different when buying. I'm going to try buying some pullbacks as long as the stock acts well. I've read a couple ways. I think Elder said to buy 1/3 before the breakout, 1/3 on the breakout, and 1/3 on the first pullback. I think Weinstein said to buy 1/2 on the breakout and half on the first pullback. I have not had good luck buying before a breakout, but that was probably because I didn't buy a pullback to begin with. I'm also thinking of buying more by setting stops or limit orders the night before instead of buying during market hours. I think this should reduce the time wasted just watching the market. I'd appreciate any comments. Mike - - ------------------------------ Date: Thu, 25 Jun 1998 16:36:12 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM]AACE was Stock lists Afternoon, David-- If anyone chews you out, I'll punch him myself. I owned this stock about a month ago. It didn't act well for me. I got out too early. It looks much better now. From the technical side: The OBV/MF show positive divergence. The SloSto just turned buy. The MACD went buy yesterday. You missed the EMA a few days, David. A little correcting down to 16 or so would be reasonable. Then take a look at all the indicators again. You know, of course, that most C&Hs are a mystery to me. If AACE is forming one, you've some other things working in your favor. A bit of patience. Connie Mack David Reid wrote: > > Ace cash express aace > > check the chart and give me your opinion .Is it forming a cup and > handle. > This is on my list. > please dont chew me out for it. > > Dave > > - - - ------------------------------ Date: Thu, 25 Jun 1998 11:27:48 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Stock lists <> That's what funds are for. And why so many individual investors turn to fund-switching instead of something that requires more time. Aside from the potentially higher rewards in doing it yourself, I suspect you do it because you enjoy it. No one in his right mind would spend this much time on something he didn't enjoy. And you get paid for it too. The attrition rate in the newbie groups I used to sponsor was sometimes amazing. Once they learned that they weren't going to be getting "tips" but rather would be expected to learn how to read a balance sheet and talk to an Investor Relations representative, large numbers would throw up their hands, scream To He** With This and go back to the message boards. And as far as the cost of programs, I made back the cost of mine within three days, and the results I got the first year were far higher than they would have been otherwise. Even being online has improved my results, programs or no programs. Before that it was the library and FNN. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 13:48:45 -0700 From: Mike Lucero Subject: RE: [CANSLIM] Stock lists Would any fitting Johan's description below please email me directly, and I'll compile a list to email back to just those people. Then we can make our own private mailing list to exchange scanning ideas, etc. Thanks, Mike On Thursday, June 25, 1998 1:32 PM, Johan Van Houtven [SMTP:Johan.VanHoutven@ping.be] wrote: > Mike, > > >Unfortunately, I have had no luck finding any friends who were interested > in investing in the CANSLIM way. Most won't even look at a chart. > > > >Mike > > I don't know if you want to call me a friend yet, but I'm interested. :) > > Any other knowledgeable QP users out there who are CANSLIM -minded that are > also interested in forming such a group? > > Personally, I'm only interested in a group with knowlegdeable members that > have scanning tools and/or another intelligent routine to track down > potential CANSLIM movers. And everyone would have to work hard and > contribute regularily. > > I know, by now I have excluded probably 99.5% of all potential candidates. ;^) > > Maybe DB can give some advice about how to best set up such a group. DB, > any particular tips? > > > > > > Johan Van Houtven / CLICK! N.V. > > > > > > - - ------------------------------ Date: Thu, 25 Jun 1998 13:58:57 -0700 (PDT) From: dbphoenix Subject: RE: [CANSLIM] Stock lists <> As egalitarian as you'd probably like for things to be, somebody's going to have to be in charge. That will very likely take care of itself as somebody usually does take charge when the need arises. Whether that somebody is a jerk or someone you can work well with is an open question. If it is a jerk, suggest he or she find another group. Ask everyone who's interested to answer a few questions such as what their goals are (other than "make money"--what do they want the money for and when, etc.), what kind of investor they are (at what point when their stock is sinking do they feel like they're going to throw up; how much progress have they made in controlling their emotions, etc.), how aggressive-conservative-gutless they are, how much time they have to devote to all this, how willing they are to make the commitment, etc. Most individual investors never ask themselves these questions, so they're forever buying the wrong stocks at the wrong times and listening to the wrong people give them the wrong advice about the wrong methods. Over a period of weeks or months they may get lucky. But over a period of years or decades, it ain't gonna happen. Eventually, you have to take it seriously. It's a business, not a video game. Once all that has taken place, I suggest you share the criteria you use when looking for stocks. It isn't necessary that everyone agree, but it is necessary that each member know where every other member is coming from. If one person wants low fund ownership and another couldn't care less, everyone needs to know that. There's no need to ask for arguments when you'll probably get a few anyway. From there you just start looking, like a scavenger hunt. All the best sites for fundies and TA have been posted at one time or another. Then each member collect all that info and select the three stocks out of all that he researched that he thinks are the absolute best and that he can't live without. And then throw out two more. And present the one that's left to the group for discussion. It's unlikely that behavior problems will come up. They rarely do in small groups. And if someone's a complete a**, just tell everyone to take him (or her) off the list. Or if someone isn't pulling his or her own weight (make sure first that they haven't been in the hospital or at the bottom of a mineshaft). And while not everyone need have a PC, it helps. In any event, everyone should know how to upload and attach files and so on. Sometimes there's an unforeseen amount of housekeeping that has to be done, like how to use Excel. Or copy and paste a hotlink. But it has to be done. And maintain a sense of humor (I get such entertaining e-mails from the halls of academe; I'm saving them up for the next time I play Scrabble). - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 25 Jun 1998 23:02:17 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Stock lists DB wrote: >That's what funds are for. And why so many individual investors turn >to fund-switching instead of something that requires more time. > >Aside from the potentially higher rewards in doing it yourself, I >suspect you do it because you enjoy it. No one in his right mind >would spend this much time on something he didn't enjoy. And you get >paid for it too. Indeed. I do it because I like the challenge. I like learning new and useful things. And I like the rewards. As I can do a fair part of it outside of my working hours, it is also a bit like a hobby. And last but not least I can envision myself doing this professionally in a few years, IF I can prove to myself that I can consistantly be succesful. I'm given myself between 3 to 5 years find out. >And as far as the cost of programs, I made back the cost of mine >within three days, and the results I got the first year were far >higher than they would have been otherwise. Even being online has >improved my results, programs or no programs. Tools are indeed a most useful thing to have. I could not imagine being without a computer and charting program at the very least. Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Thu, 25 Jun 1998 17:14:53 -0700 From: David Reid Subject: Re: [CANSLIM]AACE was Stock lists Thanks Connie , I was in aace before myself bot it at 13 and sold it at 17. I recently dipped to 14 or so again , I should have bot it back . by the way I sold nscp today in a rally this morning . I am glad that one is gone although I did finally make 3 points on it. Dave Connie Mack Rea wrote: > Afternoon, David-- > > If anyone chews you out, I'll punch him myself. > > I owned this stock about a month ago. It didn't act well for me. I got > out too early. It looks much better now. > > >From the technical side: The OBV/MF show positive divergence. > > The SloSto just turned buy. > > The MACD went buy yesterday. > > You missed the EMA a few days, David. A little correcting down to 16 or > so would be reasonable. Then take a look at all the indicators again. > > You know, of course, that most C&Hs are a mystery to me. If AACE is > forming one, you've some other things working in your favor. A bit of > patience. > > Connie Mack > > David Reid wrote: > > > > Ace cash express aace > > > > check the chart and give me your opinion .Is it forming a cup and > > handle. > > This is on my list. > > please dont chew me out for it. > > > > Dave > > > > - > > - - - ------------------------------ Date: Thu, 25 Jun 1998 17:24:28 -0500 From: "Thomas A. Moulton" Subject: [CANSLIM] Charting sources I've seen it but forget where... What (free) sites offer charting that has the Price on a Log scale? I know that the pay as you go charting supports it... - -- Thomas A. Moulton, W2VY http://www.xanthus.net/w2vy - - ------------------------------ End of canslim-digest V2 #302 ***************************** 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.