I think this market is not nearly as strong as the indices make it appear. While it clearly has a bid under it, the very fact that people are questioning whether it is real or not says something.
- --Boundary_(ID_oI50DKigRUo8MgdvfKpV0g)-- - - - -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: Fri, 22 Nov 2002 07:03:05 -0500 From: "Tom Worley"----- Original Message -----From: Tom WorleySent: Thursday, November 21, 2002 8:52 PMSubject: Re: [CANSLIM] MIan, my security stocks did quite nicely today, as did my IT stocks in my VR Fund.----- Original Message -----From: IanSent: Thursday, November 21, 2002 4:23 PMSubject: [CANSLIM] MIs anyone else finding any "NEW" winners emerging from this buying frenzy?It seems to me that several recent rally leaders are rolling over ugly today - HITK, LCI, ACET - while the indices power ahead, propelled by the most heavily shorted isues.It is also baffling to me that the sectors that stand to benefit the most from coming increases in government spending - the defense and security sector - are watching this action from the sideline as well.So am I mising the new leaders of the bull, or is this just shot-term traders using liquidity to squeeze heavily shorted positions? Opinions? Whither 'M'?Ian
Hi Katherine,
It really is good to hear from you! You somehow bring things into=20 perspective.
I understand the piling up of the papers and the hours of manual = mining. I=20 must say I have learned as much from you and this group as I have from = the paper=20 in a fraction of the time.
I used to run a large computer user club back in the early 80's. I = have for=20 years gone door to door helping my family, friends, neighbors, = co-workers and=20 computer enthusiasts discover a better way to use their computers. My = employers=20 have tapped my talents many times, and all along I have enjoyed it = tremendously.=20 I got interested in individual stock investing when these great retired = people=20 would fill my head with investing terms as I replaced a hard drive for = them in=20 their home....no cost...just because I liked to visit and it became a = trade that=20 they knew I accepted. They would talk about The Dow Theory and show me = some=20 graphs, or some Ameritrade software before the internet was called WWW = or Dog of=20 the Dow. Then someone asked me about IBD and I have been absolutely = absorbed in=20 it ever since. I do believe I need to move on and use my time more = wisely=20 though. I now have a base to start from, much as you have said in the = past. I=20 believe that everyone truly interested in stock investing at some point = should=20 take out a subscription at least long enough to get to the next level or = maybe=20 know how to measure there success.
=I can really appreciate your involvement in this group. It's your = ability to=20 teach others and at the some time add knowledge to enhance your own=20 understanding that is what is so compelling here. I truly appreciate = your input=20 to this group.
Katherine, I would have a difficult time without IBD right now. Like = you say,=20 The Big Picture is worth the cost of the paper at least for a while = longer. I=20 pin it up in front of my Nordic-Trac for 40 min each morning, killing = two birds.=20 I am having a hard time understanding just how you actually start your = lists.=20 Maybe I need to re-read your posts some more, but IBD=92s screens at = least have=20 sorted lists following CANSLIM. I have seen their screens printed = Forbes. I see=20 your references to BIG MONEY, but without using IBD=92s Big Money = screens, how do=20 you get started with a manageable list? I guess I still feel that I need = some=20 hand holding here.
I have stopped recording all the mini chart symbols, I saw the = correlation=20 and bias such as you say. Now All I record is all the Big Money on both=20 exchanges and use and excel sheet macro that one of the members came up = with to=20 sort the Screen of the Day. I just use the "Number of Times" appeared in = the Big=20 Money to sort my list then head straight for the charts when the market = looks=20 better simply starting at the top of the list and spending most of my = time=20 reading charts from Investors.com. Like everyone else, this group is = becoming=20 and index for me to decide if I want to run the screen. I then use The = Screen of=20 the Day and Stock Checkup to double check after I look at the=20 chart
But if there is an easier way to find the big money, I guess I = haven't=20 understood it quite yet, or maybe if I put the paper down long enough = and try=20 some of these sites you and others suggest, I might see the light. I = just want=20 to try to correlate the data online to what is showing with the IBD = data.
For those who don=92t really understand The Big Money, it simply is = IBD=92s=20 proprietary screen of high quality stocks that institutional investors = might be=20 buying with high Relative Price Strength and high IBD Earnings Ratings = that=20 might be climbing the right side of the cup, indicating that the chart = should be=20 looked at.
JC