From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #335 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, July 22 1998 Volume 02 : Number 335 In this issue: Re: [CANSLIM] Earnings Re: [CANSLIM] Earnings [CANSLIM] Istanbul Stock Exchange [CANSLIM] WON's 26 Weeks to Investment Success Re: [CANSLIM] IBD Groups "A" [CANSLIM] "M" [CANSLIM] remove Re: [CANSLIM] What is IRL? Re: [CANSLIM] Thoughts on Thursday IBD Article Re: [CANSLIM] Breakout PSQL Re: [CANSLIM] IBD Groups Joe [CANSLIM] Observations CDWC, SYMX, DELL, etc. Re: [CANSLIM] Earnings Re: [CANSLIM] What is IRL? RE: [CANSLIM] Observations CDWC, SYMX, DELL, etc. RE: [CANSLIM] Observations CDWC, SYMX, DELL, etc. [CANSLIM] Down we go, how far nobody knows? Re: [CANSLIM] Down we go, how far nobody knows? Re: [CANSLIM] Observations CDWC, SYMX, DELL, etc. Re: [CANSLIM] DELL Re: [CANSLIM] "M" Re: [CANSLIM] Down we go, how far nobody knows? ---------------------------------------------------------------------- Date: Tue, 21 Jul 1998 20:51:14 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Earnings http://biz.yahoo.com/research/earncal/today.html and http://cgi.pathfinder.com/cgi-bin/Money/expected.cgi At 06:30 PM 21-07-98 GMT, you wrote: >Does anyone know of a site that keeps track of when a company is going to report >their earnings? > >Thanks. Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Tue, 21 Jul 1998 12:35:48 -0700 (PDT) From: rolatzi Subject: Re: [CANSLIM] Earnings Try this one: http://www.quicken.com/investments/ibes/?symbol=SPLS Substitute your favorite stock for SPLS. Ciao, rolatzi - ---Tony Grimes wrote: > > Does anyone know of a site that keeps track of when a company is going to report > their earnings? > > Thanks. > > > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Mon, 20 Jul 1998 23:57:37 +0300 From: wiseman Subject: [CANSLIM] Istanbul Stock Exchange Anybody interested in Istanbul Stock Exchange (IMKB), drop me mail! Regards, Ugur - - ------------------------------ Date: Tue, 21 Jul 1998 17:23:22 -0400 From: Craig Griffin Subject: [CANSLIM] WON's 26 Weeks to Investment Success As many know, the series of the title is running weekly in IBD. What you may not know is that it looks like they will publish them all online as well. Go here to see the first two weeks: http://ibd.infostreet.com/won/ Lots of very basic stuff, but classic WON (William J. O'Neil). Best regards, Craig - - ------------------------------ Date: Tue, 21 Jul 1998 14:30:04 -0700 From: "Joe Barger" Subject: Re: [CANSLIM] IBD Groups "A" > >Can IRL use data from QPv2? > >How does IRL data get updated? > >I have QPv2 and am considering IRL, so that's why I'm asking this >particular question. > Yes, I use QP2 with IRL. I used the QP2 Virtual program to create a directory that has a file for each industry group in it. Each file contains the stocks for that particular group. I don't know exactly how it works, but Virtual creats a link into the QP2 data that, as far as IRL (or Metastock or any other program that reads MS files) looks like an MS file. So when the QP2 data is updated, all the Virtual "MS" links point to the updated QP2 data. The fly in this ointment is that the Virtual MS links access the QP2 data very slowly. It takes about 45 minutes on a 166 MHz Pentium to build the 117 IBD indices with IRL. It's so slow that the first few times I ran in that configuration I thought my computer was hung. The good news is that the resulting indices are MS compatible files with relative price and volume, so it's easy to use Metastock, IRL or whatever to analyze the groups and the stocks within each group. As I'm sure you are aware, QP2 supplies the standard weekly and daily IRL indices each Saturday. QP2 also provides (in Virtual) a facility to build a directory of custom groups based on the IRL (or S&P)defined groups. I understand Windows on Wallstreet (WOW) also has the ability to create custom surrogate groups. I don't know if WOW will read QP2 data easily, but I do know there is a thread on the Silicon Investor Quotes Plus interest group concerning QP2 and WOW (since I don't use WOW, I haven't followed it). I haven't used WOW, but I would certainly look into it's capabilities before jumping on the IRL bandwagon to see if it would meet your needs. joe - - ------------------------------ Date: Tue, 21 Jul 1998 17:26:50 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] "M" Sizeable distribution day in the indices today, in case there is any question. Opened up, closed lower on higher daily volume than the prior day's trade. A reversal type "distribution day". With sentiment running up against 5 year numbers as of last Thursday, may be time to give extra attention to a review of your crop of open positions and consider weeding the weaklings, or tightening stops. This coming Thursday's sentiment numbers should give an additional clue as to how overblown this latest move is getting, and provide some glimmer into how quickly (if at all) this thing could unwind. Watch the leaders, as well. Jeffry BTW, Joe Barger, I salute and thank you. - - ------------------------------ Date: Tue, 21 Jul 1998 17:18:52 -0500 From: "George Paskins" Subject: [CANSLIM] remove From: aricorp@gvcomp.com To: aricorp@gvcomp.com Subject: [CANSLIM] AMPD RCVD $1M ORDER - Press Rel Date sent: Mon, 20 Jul 1998 17:29:28 -0600 Send reply to: canslim@lists.xmission.com > PRESS RELEASE > > AMPLIDYNE, INC. > 144 Belmont Drive > Somerset, NJ 08873 > Phone: 732-271-8473 Fax: 732-271-8493 > > FOR MORE INFORMATION , CONTACT: > Sharon Will, VP of Investor Relations > AMPLIDYNE, INC. > Phone: 212-572-0762 Fax: 212-572-0764 > SWILL@REGENTBC.COM > > For Immediate Release > > Amplidyne, Inc. Receives Purchase Order for PCS CDMA > fixed wireless local loop amplifiers > > SOMERSET, NEW JERSEY, JULY 7, 1998 Amplidyne, Inc. (NASDAQ: > AMPD, AMPDW), a manufacturer of wireless communications > amplifiers, today announced that the Company has received a > purchase order in excess of $1 million for its PCS single > channel CDMA amplifiers. This order has been received from > a key European customer. The purchase agreement ranges from > an initial release of $1 million and is expected to > increase between $2 million to $5 million over a 18 to 24 > month period, based upon forecasts provided by such > customer. > > Devendar S. Bains the President, Chief Executive Officer and > Chairman of Amplidyne, Inc. stated "This purchase agreement > is a major accomplishment for Amplidyne. The company has > been working with this customer for a number of years and > provided excellent products and service in order to achieve > this success. This agreement is significant since it > demonstrates the company's continued efforts to maintain its > customer base in the global wireless amplifier market." > > Amplidyne, Inc. designs, manufactures and sells ultra > linear power amplifiers and related subsystems to the > worldwide wireless telecommunications market. These single > and multi-carrier linear power amplifiers, which are a key > component in cellular base stations, increase the power of > radio frequency and microwave signals with low distortion. > The Company's products are marketed to the cellular, > wireless local loop and PCS segments of the wireless > telecommunications industry. > > Certain information contained in this press release is > forward-looking. Actual results might differ materially > from the forward-looking statements contained in this press > release. Important factors that could cause actual results > to differ materially from those indicated by such forward- > looking statements are changes in specifications requested > by the customer, changes in purchase orders, cancellations > of orders due to rapid technological changes, or the > customer's failure to meet its forecasted usage, new product > development and product obsolescence. > > For more information about the company, check: > http://www.amplidyneinc.com > > If you do not wish to receive additional press releases > please reply this e-mail and put remove in the subject area. > ___________________________________________________________ > If you wish to be removed from this advertiser's future mailings, please reply > with the subject "Remove" and this software will automatically block you > from their future mailings. > > > > > > - > - - ------------------------------ Date: Tue, 21 Jul 1998 15:00:19 -0700 (PDT) From: rolatzi Subject: Re: [CANSLIM] What is IRL? Johan: It seems a little expensive to subscribe to IRL. I realize you have telephone charges but there are several free web sites that list groups and companies within that group including http://www.equitytrader.com/ and Ian Woodward's (i think it's his) site. - ---Johan Van Houtven wrote: > > Craig wrote: > > >BTW, what is IRL? > > Craig, > > Since I have not seen a detailed answer yet, I'll jump in and provide you > with the URL that will tell you most you need to know about IRL: > > http://www.industrymonitors.com/ > > Also note that you have a bit of what Industry Monitors provides in IRL in > QPv2. See QPv2 help file. Search for "IRL". > > Hope this helps. > > > > Johan Van Houtven / CLICK! N.V. > > > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 22 Jul 1998 10:21:25 +0700 From: "Peter Christiansen" Subject: Re: [CANSLIM] Thoughts on Thursday IBD Article Thanks. I was just curious. I agree the spreads can get way out of line. - -----Original Message----- From: Brian Nash To: 'canslim@lists.xmission.com' Date: Tuesday, July 21, 1998 8:14 PM Subject: RE: [CANSLIM] Thoughts on Thursday IBD Article >Just a personal thing. I have had very little success in them. For example, >I traded 6 of them last year with 4 winners, and my best up was 35%, while >an index of small banks was up 68% for the year. Granted, 35% beats a poke >in the eye with a sharp stick, but it was enough to convince me that I >cannot position trade these. > >Perhaps it's just my faulty selection, but it seems that professional >holders tend to fade breakouts in these. > >Spreads that sometimes reach $2 are another factor. Also, it isn't strictly >necessary, but I prefer that something trade an ADV of 50K+. A number of >smaller banks don't. > >> -----Original Message----- >> From: Peter Christiansen [SMTP:peterc@loxinfo.co.th] >> Sent: Monday, July 20, 1998 9:27 PM >> To: canslim@lists.xmission.com >> Subject: Re: [CANSLIM] Thoughts on Thursday IBD Article >> >> I'm curious why you toss the bancorps? I wish I had been in SNBC for the >> past year. >> >> Peter Christiansen >> Chiang Mai - Thailand >> >> -----Original Message----- >> From: Brian Nash >> To: 'canslim@lists.xmission.com' >> Date: Monday, July 20, 1998 9:26 PM >> Subject: RE: [CANSLIM] Thoughts on Thursday IBD Article >> >> >> >I have to do it over the weekends, since my approach takes about 6 hours. >> > >> >I look at every chart in 'Weekend Review', throwing out the bancorps and >> >things I know to be extended (207 this weekend). I'm using the crude >> Chart >> >view in Yahoo!, mainly because you can look at 200 symbols at a time and >> I'm >> >only looking for familiar patterns and the way the stock has behaved. I >> >reserve anything with any merit (17 this weekend), and make a second pass >> >through BigCharts looking at both 1-year weekly, daily, and 3-month daily >> >charts with Volume by Price (to identify congestion areas), Money Flow, >> OBV, >> >MACD, Slow Stochastic and Volume Accumulation. Anything with a divergent >> >Money Flow or OBV gets the circular file. I don't care as much about the >> >Stochastic in a trending market. >> > >> >I then look at A/D and group RS rank. It has to be at least a B/B, >> >preferably an A/A. This threw out GLYT (98/93/B/C) this weekend. I'll >> also >> >use some judgment. For example, I perceive money to be flowing out of >> >big-cap retail. So I avoided things like GDYS a couple of weeks ago. >> > >> >This will leave me with as few as 1 stock and as many as 17 (4 this >> >weekend), which I divide into an 'A' list and a 'B' list. The 'A' list >> >contains things that I will buy under specific conditions, and I write >> those >> >conditions down and follow that script exactly. The 'B' list has merit, >> but >> >there's something that would prevent me from being comfortable buying it >> at >> >the present. I always revisit it the next weekend. These are often great >> >stocks, but I may have missed the entry point, or I'm uncomfortable with >> one >> >of the technical indicators. For example, I wasn't comfortable with any >> of >> >the entry points in LGTO, so I missed this great stock. >> > >> >I use MS Investor to add the stock to a watch list. I enter the pivot >> point >> >in the "purchase price" field and the ADV in the "quantity" field. I >> then >> >move the ADV next to the volume column, and the pivot point and % gain >> >(which shows in color) next to the 'Last trade' field. I can then compare >> >trading volume to ADV and see if the price is above or below the pivot. >> > >> > >> >>>> Being in the military, we are taught to "plan" for contingencies and >> >> assemble as much knowledge and equipment as possible prior to conflict. >> >> How >> >> do other CANSLIMmers work this dilemma with stocks? Do you screen for >> CS >> >> picks using fundamentals, wait for them to make new highs, check the >> chart >> >> for patterns, and then buy? I suppose one could also use technicals as >> >> screens, but I am concerned TA is not as effective in uptrending >> markets. >> >> (Honestly I know very little about TA, outside of a few IBD articles >> and >> >> short chapters in books.) I am very interested in how others here make >> >> the >> >> best use of their limited time. <<< >> >> >> >> >> >I think WON feels that most TA books are crap, and that all that matters >> is >> >price and volume. >> > >> >>> Speaking of TA, what's WON's view? <<< >> > >> > >> >- >> > >> > >> >> >> - > >- > > - - ------------------------------ Date: Wed, 22 Jul 1998 11:35:34 +0700 From: "Peter Christiansen" Subject: Re: [CANSLIM] Breakout PSQL Monday's action was enough to keep me in, but I really wish it would break convincingly above 27 1/4. I will be keeping a very close eye on this one. I don't have much money in it though. Just a few options. Good luck. Peter Christiansen Chiang Mai - Thailand - -----Original Message----- From: Johan Van Houtven To: canslim@lists.xmission.com Date: Tuesday, July 21, 1998 8:59 PM Subject: Re: [CANSLIM] Breakout PSQL >Peter wrote: > >>Johan, >> >>Did you hang on to PSQL today? >> >>Peter Christiansen >>Chiang Mai - Thailand > >Peter, > >I sold my day-trading half @ 5% profit. Simply a matter of limiting risk, >nothing else. Kept my short term trading half, saw no reason to sell it. > >Why? > >Bought an inordinate amount of PSQL (40% of available capital). Half @ 25: >the day-trading part. The other half @ 25 3/8: the short term trading part. > >Did not want to risk the day-trading part any longer as the MMs on this >stock seem to be of the kind I'd rather not deal with. (Same types as TMBS, >GICOF and USWB.) > >I analysed the T&S list during the weekend. Seemed to me that they took >PSQL down on approx 130K shares. So percentage wise they took it down on >light volume. PSQL showed strenght pretty soon in the day during Monday, so >that made me keep the short term trading part (CANSLIM part). > >Side note: The daytrading part is were I do not look only look at the woods >and the trees, but also examing the branches, the leaves and if necessary >the the ribonucleotide sequence of the t-RNA in the mitochondrions. Has >nothing to do with CANSLIM. > >I think the short-term trading part looks pretty good. > >What did you think of the action on Monday, Peter? > > > > > > > >Johan Van Houtven / CLICK! N.V. > > > > >- > > - - ------------------------------ Date: Wed, 22 Jul 1998 06:58:50 -0700 (PDT) From: Tannis Malone Subject: Re: [CANSLIM] IBD Groups Joe You've obviously done much group work and are good at it. Yield-wise, have you noticed better returns? I guess the question I'm asking you, is it a better way of investing or a different way of investing? TM - ---Joe Barger wrote: > > > > > >Can IRL use data from QPv2? > > > >How does IRL data get updated? > > > >I have QPv2 and am considering IRL, so that's why I'm asking this > >particular question. > > > > > Yes, I use QP2 with IRL. I used the QP2 Virtual program to create a > directory that has a file for each industry group in it. Each file contains > the stocks for that particular group. I don't know exactly how it works, > but Virtual creats a link into the QP2 data that, as far as IRL (or > Metastock or any other program that reads MS files) looks like an MS file. > So when the QP2 data is updated, all the Virtual "MS" links point to the > updated QP2 data. The fly in this ointment is that the Virtual MS links > access the QP2 data very slowly. It takes about 45 minutes on a 166 MHz > Pentium to build the 117 IBD indices with IRL. It's so slow that the first > few times I ran in that configuration I thought my computer was hung. The > good news is that the resulting indices are MS compatible files with > relative price and volume, so it's easy to use Metastock, IRL or whatever to > analyze the groups and the stocks within each group. As I'm sure you are > aware, QP2 supplies the standard weekly and daily IRL indices each Saturday. > QP2 also provides (in Virtual) a facility to build a directory of custom > groups based on the IRL (or S&P)defined groups. > > I understand Windows on Wallstreet (WOW) also has the ability to create > custom surrogate groups. I don't know if WOW will read QP2 data easily, but > I do know there is a thread on the Silicon Investor Quotes Plus interest > group concerning QP2 and WOW (since I don't use WOW, I haven't followed it). > I haven't used WOW, but I would certainly look into it's capabilities before > jumping on the IRL bandwagon to see if it would meet your needs. > > joe > > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 22 Jul 1998 07:05:54 -0700 From: Tim Fisher Subject: [CANSLIM] Observations CDWC, SYMX, DELL, etc. I reported to the group Tuesday on some breakouts, among them was CDWC. It has held up extremely well, volume is heavy right on the pivot point (I called it 54, your mileage may vary), still buyable. I'm not in (100% invested), but if I get stopped out of something this is near the top of my buyable list. Of course in the time it took to type this it's off 2... Boy is DELL selling off again today. Are the leaders faltering? I don't count the internet stocks as leaders, so DELL is about it in my book... SYMX beat estimates by $0.02 or 6%; following recent logic that's not enough to affect it (as long as it's not IBM, which pops up after beating estimates by a penny, or about 0.5% - ridiculous!) but shouldn't kill it. Other "leaders" like HD and some retailers seem to have stalled but aren't selling off like DELL. I can't believe that SPLS announces a secondary at $32 and doesn't drop at all (opened at 32-3/8). And finally, a bit of revenge for me: Salomon gets dinged on CBS for leaking the HBOC-MCK merger talks. Finally someone gets called on the mat for doing the churn 'n' burn. Of course I don't believe that it will cost Salomon a penny - probably made them millions. TRV did lose 3+ points yesterday, maybe the WSJ article got leaked by those whores at Bear Stearns (gawd I crack myself up!) NEW YORK (CBS.MW) -- Travelers Group (TRV) is suffering from an embarrassing leak of secret merger talks between HBO & Co. (HBOC) and McKesson Corp. (MCK), The Wall Street Journal reported Wednesday. The paper said the talks were accidentally disclosed to Salomon Smith Barney's brokers, triggering a selloff of HBO stock and killing the $9 billion deal. The Journal said the mistake could cost Salomon Smith Barney credibility as the firm tries to beef up its investment banking business. (The Wall Street Journal) P.S. Don't use the "Java Portfolio Manager" in Yahoo if you value your notes, high and low price limits. It will erase them and append ".0" to all your number-of-shares. So much for testing this kind of gizmo out before you put it on your Web site. I feel old longing for the good ol' days of toll-free tech support and apps that actually WORKED! 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, 22 Jul 1998 09:00:51 -0400 From: Sam Funchess Subject: Re: [CANSLIM] Earnings You can go to Yahoo! finance Yahoo! quotes and type your ticker symbol and choose research and you will find the expected posting date in the lower left corner of the box. Sam Tony Grimes wrote: > Does anyone know of a site that keeps track of when a company is going to report > their earnings? > > Thanks. > > - - - ------------------------------ Date: Wed, 22 Jul 1998 14:40:03 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] What is IRL? At 03:00 PM 21-07-98 -0700, you wrote: > >Johan: > >It seems a little expensive to subscribe to IRL. I realize you have >telephone charges but there are several free web sites that list >groups and companies within that group including >http://www.equitytrader.com/ and Ian Woodward's (i think it's his) >site. Rich, Thanks. I'll look into that. Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Wed, 22 Jul 1998 07:45:47 -0700 From: Brian Nash Subject: RE: [CANSLIM] Observations CDWC, SYMX, DELL, etc. Jim Cramer did a piece this morning ("Getting Shelled by Dell") on a PaineWebber conference call late yesterday that I will pass along without comment: "The action in Dell did get pretty hot late in the afternoon. Every time I stepped into the stock, I got hit by another artillery shell: a problem with gross margins, a problem with earnings, a problem with components -- all stemming from a conference call that we were listening to that neither contained nor validated any of those concerns. The shelling would wear down any long, even the informed! Of course, the whole exercise of ferreting out the truth was frustrating beyond belief. Each time a new rumor would hit our wires about Dell, I would dutifully run back into Jeff's office and get the denial, only to be sent right back by a new one. I felt like a Ping-Pong ball. By the end of the conference call, it was pretty clear that someone wanted out of Dell, as well as a whole host of other prominent Nasdaq tech names, no matter what. The PaineWebber conference call was a bogus excuse to sell. In another tape, Dell would come right back. But in the incredibly overbought Nasdaq market, who knew where it would stop going down? The long-awaited pullback had begun and nobody wants to have a standoff here, where there is no cover or support. Finally, at 3:45 p.m., we both threw up our hands and adopted a "wide scale," where we would pick up shares of Dell less aggressively until the selling abated a bit. " As for SPLS, I've owned this stock on and off over the years, though not right now. I have anecdotal cause for concern about its expansion strategy: they are building a new superstore in what's currently a desolate, weedy lot in my little hometown of Mooresville, NC, a tiny (pop. 8000) lake community 40 miles north of Charlotte. I'm willing to be surprised, but I'd give odds that it closes no more than a year after completion. > -----Original Message----- > From: Tim Fisher [SMTP:tim@orerockon.com] > Sent: Wednesday, July 22, 1998 10:06 AM > To: canslim@mail.xmission.com > Subject: [CANSLIM] Observations CDWC, SYMX, DELL, etc. > > I reported to the group Tuesday on some breakouts, among them was CDWC. It > has held up extremely well, volume is heavy right on the pivot point (I > called it 54, your mileage may vary), still buyable. I'm not in (100% > invested), but if I get stopped out of something this is near the top of > my > buyable list. Of course in the time it took to type this it's off 2... > > Boy is DELL selling off again today. Are the leaders faltering? I don't > count the internet stocks as leaders, so DELL is about it in my book... > > SYMX beat estimates by $0.02 or 6%; following recent logic that's not > enough to affect it (as long as it's not IBM, which pops up after beating > estimates by a penny, or about 0.5% - ridiculous!) but shouldn't kill it. > > Other "leaders" like HD and some retailers seem to have stalled but aren't > selling off like DELL. I can't believe that SPLS announces a secondary at > $32 and doesn't drop at all (opened at 32-3/8). > > And finally, a bit of revenge for me: Salomon gets dinged on CBS for > leaking the HBOC-MCK merger talks. Finally someone gets called on the mat > for doing the churn 'n' burn. Of course I don't believe that it will cost > Salomon a penny - probably made them millions. TRV did lose 3+ points > yesterday, maybe the WSJ article got leaked by those whores at Bear > Stearns > (gawd I crack myself up!) > > NEW YORK (CBS.MW) -- Travelers Group (TRV) is > suffering from an embarrassing leak of secret merger > talks between HBO & Co. (HBOC) and McKesson > Corp. (MCK), The Wall Street Journal reported > Wednesday. The paper said the talks were accidentally > disclosed to Salomon Smith Barney's brokers, triggering > a selloff of HBO stock and killing the $9 billion deal. > The Journal said the mistake could cost Salomon Smith > Barney credibility as the firm tries to beef up its > investment banking business. (The Wall Street Journal) > > P.S. Don't use the "Java Portfolio Manager" in Yahoo if you value your > notes, high and low price limits. It will erase them and append ".0" to > all > your number-of-shares. So much for testing this kind of gizmo out before > you put it on your Web site. I feel old longing for the good ol' days of > toll-free tech support and apps that actually WORKED! > > > 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, 22 Jul 1998 07:45:47 -0700 From: Brian Nash Subject: RE: [CANSLIM] Observations CDWC, SYMX, DELL, etc. Jim Cramer did a piece this morning ("Getting Shelled by Dell") on a PaineWebber conference call late yesterday that I will pass along without comment: "The action in Dell did get pretty hot late in the afternoon. Every time I stepped into the stock, I got hit by another artillery shell: a problem with gross margins, a problem with earnings, a problem with components -- all stemming from a conference call that we were listening to that neither contained nor validated any of those concerns. The shelling would wear down any long, even the informed! Of course, the whole exercise of ferreting out the truth was frustrating beyond belief. Each time a new rumor would hit our wires about Dell, I would dutifully run back into Jeff's office and get the denial, only to be sent right back by a new one. I felt like a Ping-Pong ball. By the end of the conference call, it was pretty clear that someone wanted out of Dell, as well as a whole host of other prominent Nasdaq tech names, no matter what. The PaineWebber conference call was a bogus excuse to sell. In another tape, Dell would come right back. But in the incredibly overbought Nasdaq market, who knew where it would stop going down? The long-awaited pullback had begun and nobody wants to have a standoff here, where there is no cover or support. Finally, at 3:45 p.m., we both threw up our hands and adopted a "wide scale," where we would pick up shares of Dell less aggressively until the selling abated a bit. " As for SPLS, I've owned this stock on and off over the years, though not right now. I have anecdotal cause for concern about its expansion strategy: they are building a new superstore in what's currently a desolate, weedy lot in my little hometown of Mooresville, NC, a tiny (pop. 8000) lake community 40 miles north of Charlotte. I'm willing to be surprised, but I'd give odds that it closes no more than a year after completion. > -----Original Message----- > From: Tim Fisher [SMTP:tim@orerockon.com] > Sent: Wednesday, July 22, 1998 10:06 AM > To: canslim@mail.xmission.com > Subject: [CANSLIM] Observations CDWC, SYMX, DELL, etc. > > I reported to the group Tuesday on some breakouts, among them was CDWC. It > has held up extremely well, volume is heavy right on the pivot point (I > called it 54, your mileage may vary), still buyable. I'm not in (100% > invested), but if I get stopped out of something this is near the top of > my > buyable list. Of course in the time it took to type this it's off 2... > > Boy is DELL selling off again today. Are the leaders faltering? I don't > count the internet stocks as leaders, so DELL is about it in my book... > > SYMX beat estimates by $0.02 or 6%; following recent logic that's not > enough to affect it (as long as it's not IBM, which pops up after beating > estimates by a penny, or about 0.5% - ridiculous!) but shouldn't kill it. > > Other "leaders" like HD and some retailers seem to have stalled but aren't > selling off like DELL. I can't believe that SPLS announces a secondary at > $32 and doesn't drop at all (opened at 32-3/8). > > And finally, a bit of revenge for me: Salomon gets dinged on CBS for > leaking the HBOC-MCK merger talks. Finally someone gets called on the mat > for doing the churn 'n' burn. Of course I don't believe that it will cost > Salomon a penny - probably made them millions. TRV did lose 3+ points > yesterday, maybe the WSJ article got leaked by those whores at Bear > Stearns > (gawd I crack myself up!) > > NEW YORK (CBS.MW) -- Travelers Group (TRV) is > suffering from an embarrassing leak of secret merger > talks between HBO & Co. (HBOC) and McKesson > Corp. (MCK), The Wall Street Journal reported > Wednesday. The paper said the talks were accidentally > disclosed to Salomon Smith Barney's brokers, triggering > a selloff of HBO stock and killing the $9 billion deal. > The Journal said the mistake could cost Salomon Smith > Barney credibility as the firm tries to beef up its > investment banking business. (The Wall Street Journal) > > P.S. Don't use the "Java Portfolio Manager" in Yahoo if you value your > notes, high and low price limits. It will erase them and append ".0" to > all > your number-of-shares. So much for testing this kind of gizmo out before > you put it on your Web site. I feel old longing for the good ol' days of > toll-free tech support and apps that actually WORKED! > > > 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, 22 Jul 1998 11:00:37 -0400 From: Peter Newell Subject: [CANSLIM] Down we go, how far nobody knows? Hi everyone, What is your take on the latest market action. Peter Newell - - ------------------------------ Date: Wed, 22 Jul 1998 08:34:17 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Down we go, how far nobody knows? Out of SYMX already. Can you say "shakeout"? I've lost the last 3 weeks' + profits and have hit only one stop so far. It's a long way down to 100% cash! Fasten your seatbelts! At 08:00 AM 7/22/98 , you wrote: >Hi everyone, > >What is your take on the latest market action. > >Peter Newell > Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites mailto:Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Wed, 22 Jul 1998 08:33:03 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Observations CDWC, SYMX, DELL, etc. <> This isn't the automatic bad news it used to be, esp. for larger stocks. It gives the fund managers more stock to buy. As far as DELL goes, root for 102. That would be a good entry point. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 22 Jul 1998 08:48:29 -0700 From: Tim Fisher Subject: Re: [CANSLIM] DELL My stop is at 101-7/8. Coincidence? Also a secondary offering is one thing that killed SLOT, coupled with ill-timed and possibly illegal insider selling (right before the announcement). Still waiting for my piece of the settlement from that fiasco. I'm not holding my breath... At 08:33 AM 7/22/98 , you wrote: ><$32 and doesn't drop at all (opened at 32-3/8).>> > >This isn't the automatic bad news it used to be, esp. for larger >stocks. It gives the fund managers more stock to buy. As far as DELL >goes, root for 102. That would be a good entry point. > >--Db > Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites mailto:Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Wed, 22 Jul 1998 17:50:07 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] "M" At 05:26 PM 21-07-98 -0400, you wrote: >Sizeable distribution day in the indices today, in case there is any >question. No question about that (from me). Was about time we had a rest... Distribution happens on the way up says WON: 06/30 was a distribution day: 862195600 shares traded. We were up 0.19% on 30.78% higher volume than the previous day and 22.16% higher volume than the last 30 days ADV(30). 07/07 was a distribution day: 801440000 shares traded. We were down -.07% on 16.21% higher volume than the previous day and 11.12% higher volume than the last 30 days ADV(30). 07/14 was a distribution day: 838930000 shares traded. We were up 0.15% on 8.30% higher volume than the previous day and 13.47% higher volume than the last 30 days ADV(30). 07/21 was a distribution day: 854212569 shares traded. We were down -1.74% on 18.85% higher volume than the previous day and 12.08% higher volume than the last 30 days ADV(30). Please note that I do not have correct numbers for the 07/01 to 07/20 period yet. We have also had 2 or 3 days where the NASDAQ was up 1% or more on significantly higher volume than the previous day. Those days were 07/13 and 07/15. And 07/08. Things are looking a *bit* like the mini pullback we had at the end of February. What I call distribution days above might not be the same as what WON calls ditribution days. I've started to do some research on the NASDAQ (datat since 1996) 2 weeks ago. So this is a work in progress. So changes in what are and aren't considered distribution days are very likely. For trading purposes I've set a minimum pullback on the NAZ to the 1950/1960 area. Next support area after that @ 1930. Re: sentiment numbers on Thursday. By the time they are reported they might already be old news. So I'm afraid that they won't help me a lot this time, because when this mini pullback is over we will have shaken out a lot of the weaker holders. Then we can continue upward to at least the 2144 level on the NAZ. How's that for (stupid) crystal ball gazing noise? Do I really thrust and believe all this myself? Of course not, I take it one day at a time, but it is fun to try and see if any of this holds up. As WON says: You got to be able to bent like a straw in the wind. (Or something like that.) Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Wed, 22 Jul 1998 11:53:23 -0400 From: Craig Griffin Subject: Re: [CANSLIM] Down we go, how far nobody knows? Hi Peter, It looked like another mini-climax run out of the box (from the breakout) for the markets to me. Yesterday, as Jeffry pointed out, was a reversal day. The market needs a rest. I would not be surprised at 1 billion shares on the NASDAQ today to the downside. Even, if we are flat at the close (which would be a surprise to me), it will be a distributional day again. So, looks like we will be backing and filling for a few days at least (imhO). I had noticed quite a few posts (mine included) that celebrated (more or less) how well we were all doing. I have found in the past that about the time I am feeling pretty good about how well everything is going for me in the market, I had better look out - it is time for a big pullback. A lot of stocks ran 20-30% (and more) very quickly. Lots of traders take profits around those levels (myself included). Things have been going up and up some more. I expect action to be a lot more choppy now as the earnings start to come in. The internet stocks are a mania (imhO), but you have got to own the leaders when they break out (and they may never get much cheaper if things continue to work out for them). Unlike Tim, I do consider AMZN, YHOO, XCIT, CMGI, ELNK, MSPG, and others to be market leaders. Several are strong today. (Doesn't O'Neil say the leaders crack last? or is it the other way around?) That makes me a bit learly of DELL's weakness (although it is due a rest, so we shall see). This may be a quick pause that refreshes for the markets (my best GUESS) or the start of something more. Here is the hard part - do you take your 20 or 30% or whatever profit today (or better yet yesterday if you were alert), OR, do you ride your stocks down (some may pull back/retrace 50% of the original advance) and then ride them back up (hopefully) and onward. This is where you have to go with O'Neil's selling rules in HTMMIS and you also have to evaluate whether you were in for a quick 20-30% or whether you want to stick with some of your stocks as longer term investments. If you look at MSPG for example, it's holders had to "suffer" through a 25% retracement from a short term peak already (three weeks back) at $91 a share. Of course it could have fallen all the way back to the base from there, but instead it turned back up. And today it is up 8 at about $134 (+50% from the trough) - (way extended, but cool if you bought the breakout a few weeks ago). That is one bucking bronco of a stock! It is a wild animal in other ways too, trading for a year at more than 2x the 200dma and just about to reach 2x the 50dma. So, not a great example of what to do vis a vis retracements on other stocks perhaps, except in an exaggerated sort of way. Just some thoughts - mostly opinions - and we all know what they are worth. Fact is - market is selling off at the moment. Might be worth reviewing selling rules (in fact that would have been a good idea about the time we were all so happy with ourselves). Best regards, Craig At 11:00 AM 7/22/98 -0400, you wrote: >Hi everyone, > >What is your take on the latest market action. > >Peter Newell > > >- > > - - ------------------------------ End of canslim-digest V2 #335 ***************************** 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. 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