From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3504 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Tuesday, August 12 2003 Volume 02 : Number 3504 In this issue: RE: [CANSLIM] elder and triple screens Re: [CANSLIM] elder and triple screens ---------------------------------------------------------------------- Date: Tue, 12 Aug 2003 08:22:40 -0500 From: "Katherine Malm" Subject: RE: [CANSLIM] elder and triple screens This is a multi-part message in MIME format. - ------=_NextPart_000_0028_01C360AA.E5182EE0 Content-Type: text/plain; charset="US-ASCII" Content-Transfer-Encoding: 7bit MessageHi Jeff and DMC, I feel that I need to speak up here. While I understand that there are many aspects to trading and that there are many that can influence and/or be used in CANSLIM investing, Elder triple screens, Elliott Wave theory, etc., have nothing to do with CANSLIM. Let's stay on course so that the folks who are here for a particular discussion and purpose, CANSLIM, are getting what they expect when they come here. I wouldn't go to a 5 star French restaurant for a fast food burger. I wouldn't expect to come to a CANSLIM list for broad trading discussions. Focus, simplicity, disclipline and a deep knowledge of the trading methodology are the hallmarks of Master Traders. Our purpose as members of this list is to develop that mastery. Katherine -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Henderson Sent: Tuesday, August 12, 2003 2:13 AM To: canslim@lists.xmission.com Subject: [CANSLIM] elder and triple screens DMC, Thank you for the book recommendations! I just read Trading For a Living and thought is was really informative. I love his themes and dry humor on trading "losers", alcoholics and other psychological dysfunctions. I loved what he said about treating trading psychological problems like you're in AA, "Good morning, my name is Alex and I am a loser. I have it in me to do serious financial damage to my account." LOL Anyway, I have a question regarding his triple screens trading. Has anybody used this technical analysis before, and if you have, did you find that one of the oscillators works better than the others? I'm using a fast 5 day stochastic, but I think he really suggests his very own Force Index and Elder-Ray. I was also thinking of adjusting his recommended stop losses to compensate for possible whipsawing. Any suggestions? I was thinking of a moving exit using 1.2 times the 10 day ADR and possibly switching over to the parabolic system during a runaway trend. Thanks, Jeff H. --Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Fred Richards Sent: Monday, August 11, 2003 8:05 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] a random thought Katherine is quite correct about using the A/D to help identify stocks to consider and possibly add to one's portfolio. I rely on setting up an alert and/or stop loss point using a trailing stop to protect my position profits. Then, if we get stopped out of a position, we consider re-buying the position when the stock regains the stop loss point if the basic fundamentals and other technical aspects remain within our overall criteria. If not, we pass on re-buying. -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Katherine Malm Sent: Monday, August 11, 2003 7:43 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] a random thought Hi Jeff, In my experience, the A/D is a decent tool when buying into a long position (limiting buys to A, B or C) but it's a lousy indicator of tops. I remember in the March of 2000 that all the top stocks still had an "A" rating long after they'd crashed off their tops. The 13 weeks included in the indicator makes is a lagging indicator in my mind, too slow to catch the very near term price action in a stock that often triggers sell rules. The IBD says they don't see it as a lagging indicator and that it is one of their "fastest." Faster? Yes, faster than RS (52 weeks) or GRS (26 weeks), but not "non-lagging" in my opinion. Katherine -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Henderson Sent: Monday, August 11, 2003 6:27 AM To: Canslim Subject: [CANSLIM] a random thought I was thinking that accumulation/distributor indicator seems to be a valuable tool if there is a lot (for lack of a better term) of institutional sponsorship. What do y'all think? Jeff H. - ------=_NextPart_000_0028_01C360AA.E5182EE0 Content-Type: text/html; charset="US-ASCII" Content-Transfer-Encoding: quoted-printable Message=
Hi Jeff and DMC,
 
I feel that I need to speak up=20 here.
 
While I understand that there are = many=20 aspects to trading and that there are many that can influence and/or be = used in=20 CANSLIM investing, Elder triple screens, Elliott Wave theory, etc., have = nothing=20 to do with CANSLIM.
 
Let's stay on course so that the = folks who=20 are here for a particular discussion and purpose, CANSLIM, are getting = what they=20 expect when they come here. I wouldn't go to a 5 star French restaurant = for a=20 fast food burger. I wouldn't expect to come to a CANSLIM list for broad = trading=20 discussions.
 
Focus, simplicity, disclipline and = a deep=20 knowledge of the trading methodology are the hallmarks of = Master=20 Traders. Our purpose as members of this list is to develop that=20 mastery.
 
Katherine
-----Original Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff=20 Henderson
Sent: Tuesday, August 12, 2003 2:13 = AM
To:=20 canslim@lists.xmission.com
Subject: [CANSLIM] elder and = triple=20 screens

 

DMC,

 

Thank you = for the=20 book recommendations!  I = just read=20 Trading For a Living and thought is = was really=20 informative.  I love his = themes=20 and dry humor on trading “losers”, alcoholics and other = psychological=20 dysfunctions.  I loved = what he=20 said about treating trading psychological problems like you’re = in AA, “Good=20 morning, my name is Alex and I am a loser.  I have it in me to do serious = financial=20 damage to my account.” LOL

 

Anyway, I = have a=20 question regarding his triple screens trading.  Has anybody used this = technical=20 analysis before, and if you have, did you find that one of the = oscillators=20 works better than the others?  = I’m=20 using a fast 5 day stochastic, but I think he really suggests his very = own=20 Force Index and Elder-Ray.  = I was=20 also thinking of adjusting his recommended stop losses to compensate = for=20 possible whipsawing.  Any suggestions? =20 I was thinking of a moving exit using 1.2 times the 10 day ADR = and=20 possibly switching over to the parabolic system during a runaway=20 trend.

 

Thanks,

Jeff=20 H.

 

--Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]=20 On Behalf Of Fred=20 Richards
Sent:=20 Monday, = August 11,=20 2003 = 8:05=20 AM
To:=20 canslim@lists.xmission.com
Subject: RE: [CANSLIM] a random = thought

 

Katherine = is quite=20 correct about using the A/D to help identify stocks to consider and = possibly=20 add to one's portfolio.  I rely on setting up an alert and/or = stop loss=20 point using a trailing stop to protect my position profits.  = Then, if we=20 get stopped out of a position, we consider re-buying the position when = the=20 stock regains the stop loss point if the basic fundamentals and other=20 technical aspects remain within our overall criteria.  If not, we = pass on=20 re-buying.

 

-----Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]=20 On Behalf Of = Katherine=20 Malm
Sent:=20 Monday, August 11,=20 2003 = 7:43=20 AM
To:=20 canslim@lists.xmission.com
Subject: RE: [CANSLIM] a = random=20 thought

Hi=20 Jeff,

 

In my experience, the A/D = is a decent=20 tool when buying into a long position (limiting buys to A, B or C) = but it's=20 a lousy indicator of tops. I remember in the March of 2000 that all=20 the top stocks still had an "A" rating long after they'd = crashed off=20 their tops. The 13 weeks included in the indicator makes is a = lagging=20 indicator in my mind, too slow to catch the very near term price = action in a=20 stock that often triggers sell = rules.

 

The IBD says they don't see = it as a=20 lagging indicator and that it is one of their "fastest." Faster? = Yes, faster=20 than RS (52 weeks) or GRS (26 weeks), but not "non-lagging" in my=20 opinion.

 

Katherine

-----Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff=20 Henderson
Sent: = Monday, August=20 11, 2003 = 6:27=20 AM
To: Canslim
Subject: [CANSLIM] a random = thought

I was = thinking=20 that accumulation/distributor indicator seems to be a valuable = tool if=20 there is a lot (for lack of a better term) of institutional=20 sponsorship.  What = do y’all=20 think? =20

 

Jeff=20 = H.

- ------=_NextPart_000_0028_01C360AA.E5182EE0-- - - - -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: Tue, 12 Aug 2003 07:16:30 -0700 From: "DMC197807" Subject: Re: [CANSLIM] elder and triple screens This is a multi-part message in MIME format. - ------=_NextPart_000_0092_01C360A1.A6E1E890 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable MessageKatherine & Jeff, First, I would agree with Katherine that a detailed discussion of what = settings to use on different oscillators is afield from the purpose of = the board. I'd suggest you scope out the Silicon Investor sites as a = starting point: http://www.siliconinvestor.com/stocktalk/sub_hot.gsp As for generalized discussions of how to read charts, etc., what kinds = of time-frames to look at, etc., I think that's what makes a good = investor no matter what the approach. It is an absolutely vital part of = making a keeping profits. In this approach, where you basically sit = down with a scanning program that can spit out 10-12 names per day, it = is vital to develop one's own discipline and chart reading ability. = Also, it's key to understand Gann, Fibonacci, Elliot, etc. if only to = keep slick talk and slick reasoning from an extraneous source from = pushing you into a speculative position with little else to support it. Sometimes this thread reminds me of the church, where you want to ground = your reasons in scripture. (Holy Moly, we actually had a sighting--was it an epiphany?-on Kudlow = and Cramer last night of the Great One, the one who goes by His = Initials, His Nibs, WON. I hope all the true believers tuned in for the = sound bites). Hokay, so, let me just cite pages 44-78 and 160-180 in HTMMIS as the = basis for maintaining a broad interest in macro and micro charts and = differing approaches. What's almost laughable is the title of chapter = 15: "How to Read Charts Like an Expert . . ." In only 20 pages! =20 Jeff, in response to your original question, as a general matter, it is = always best to look across time frames for confirmation that what you're = looking at is what you're looking at. If the micro trend (hourly) is = good and the daily looks great, don't forget to check the weekly before = you commit. That is the gist (and the takeaway) of Elder, at least to = me. The most comprehensive treatment of triple screening technique = (btw, you can get free triple screens on one page by using Stockcharts' = gallery views) is Farley's "Master Swing Trader." Not a recommendation = quite yet but if you stumbled over a copy it might be worth it to read a = few chapters. When you're wondering if you should sell, again you need to check not = only the daily price action but how it all fits into the weekly or = monthly charts. In the list of books I posted before was Murphy's basic = text: that will give you a good grounding in many, many topics. DMC ----- Original Message -----=20 From: Katherine Malm=20 To: canslim@lists.xmission.com=20 Sent: Tuesday, August 12, 2003 6:22 AM Subject: RE: [CANSLIM] elder and triple screens Hi Jeff and DMC, I feel that I need to speak up here. While I understand that there are many aspects to trading and that = there are many that can influence and/or be used in CANSLIM investing, = Elder triple screens, Elliott Wave theory, etc., have nothing to do with = CANSLIM. Let's stay on course so that the folks who are here for a particular = discussion and purpose, CANSLIM, are getting what they expect when they = come here. I wouldn't go to a 5 star French restaurant for a fast food = burger. I wouldn't expect to come to a CANSLIM list for broad trading = discussions. Focus, simplicity, disclipline and a deep knowledge of the trading = methodology are the hallmarks of Master Traders. Our purpose as members = of this list is to develop that mastery. Katherine -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Henderson Sent: Tuesday, August 12, 2003 2:13 AM To: canslim@lists.xmission.com Subject: [CANSLIM] elder and triple screens =20 DMC, =20 Thank you for the book recommendations! I just read Trading For a = Living and thought is was really informative. I love his themes and dry = humor on trading "losers", alcoholics and other psychological = dysfunctions. I loved what he said about treating trading psychological = problems like you're in AA, "Good morning, my name is Alex and I am a = loser. I have it in me to do serious financial damage to my account." = LOL =20 Anyway, I have a question regarding his triple screens trading. Has = anybody used this technical analysis before, and if you have, did you = find that one of the oscillators works better than the others? I'm = using a fast 5 day stochastic, but I think he really suggests his very = own Force Index and Elder-Ray. I was also thinking of adjusting his = recommended stop losses to compensate for possible whipsawing. Any = suggestions? I was thinking of a moving exit using 1.2 times the 10 day = ADR and possibly switching over to the parabolic system during a runaway = trend. =20 Thanks, Jeff H. =20 --Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com] On Behalf Of Fred Richards Sent: Monday, August 11, 2003 8:05 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] a random thought =20 Katherine is quite correct about using the A/D to help identify = stocks to consider and possibly add to one's portfolio. I rely on = setting up an alert and/or stop loss point using a trailing stop to = protect my position profits. Then, if we get stopped out of a position, = we consider re-buying the position when the stock regains the stop loss = point if the basic fundamentals and other technical aspects remain = within our overall criteria. If not, we pass on re-buying. =20 -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com] On Behalf Of Katherine Malm Sent: Monday, August 11, 2003 7:43 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] a random thought Hi Jeff, =20 In my experience, the A/D is a decent tool when buying into a long = position (limiting buys to A, B or C) but it's a lousy indicator of = tops. I remember in the March of 2000 that all the top stocks still had = an "A" rating long after they'd crashed off their tops. The 13 weeks = included in the indicator makes is a lagging indicator in my mind, too = slow to catch the very near term price action in a stock that often = triggers sell rules. =20 The IBD says they don't see it as a lagging indicator and that it = is one of their "fastest." Faster? Yes, faster than RS (52 weeks) or GRS = (26 weeks), but not "non-lagging" in my opinion. =20 Katherine -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Henderson Sent: Monday, August 11, 2003 6:27 AM To: Canslim Subject: [CANSLIM] a random thought I was thinking that accumulation/distributor indicator seems to = be a valuable tool if there is a lot (for lack of a better term) of = institutional sponsorship. What do y'all think? =20 =20 Jeff H. - ------=_NextPart_000_0092_01C360A1.A6E1E890 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Message=
Katherine & Jeff,
 
First, I would agree with Katherine = that a detailed=20 discussion of what settings to use on different oscillators is afield = from the=20 purpose of the board.  I'd suggest you scope out the Silicon = Investor sites=20 as a starting point:
 
http://www.= siliconinvestor.com/stocktalk/sub_hot.gsp
 
As for generalized discussions of how = to read=20 charts, etc., what kinds of time-frames to look at, etc., I think that's = what=20 makes a good investor no matter what the approach.  It is an = absolutely=20 vital part of making a keeping profits.  In this approach, where = you=20 basically sit down with a scanning program that can spit out 10-12 names = per=20 day, it is vital to develop one's own discipline and chart reading=20 ability.  Also, it's key to understand Gann, Fibonacci, Elliot, = etc. if=20 only to keep slick talk and slick reasoning from an extraneous source = from=20 pushing you into a speculative position with little else to support=20 it.
 
Sometimes this thread reminds me of the = church,=20 where you want to ground your reasons in scripture.
 
(Holy Moly, we actually had a = sighting--was it an=20 epiphany?-on Kudlow and Cramer last night of the Great One, the one who = goes by=20 His Initials, His Nibs, WON.  I hope all the true believers tuned = in for=20 the sound bites).
 
Hokay, so, let me just cite pages 44-78 = and 160-180=20 in HTMMIS as the basis for maintaining a broad interest in macro and = micro=20 charts and differing approaches.  What's almost laughable is the = title of=20 chapter 15:  "How to Read Charts Like an Expert . . ."
 
In only 20 pages! 
 
Jeff, in response to your original = question, as a=20 general matter, it is always best to look across time frames for = confirmation=20 that what you're looking at is what you're looking at.  If the = micro trend=20 (hourly) is good and the daily looks great, don't forget to check the = weekly=20 before you commit.  That is the gist (and the takeaway) of Elder, = at least=20 to me.  The most comprehensive treatment of triple screening = technique=20 (btw, you can get free triple screens on one page by using Stockcharts' = gallery=20 views) is Farley's "Master Swing Trader."  Not a recommendation = quite yet=20 but if you stumbled over a copy it might be worth it to read a few=20 chapters.
 
When you're wondering if you should = sell, again you=20 need to check not only the daily price action but how it all fits into = the=20 weekly or monthly charts.  In the list of books I posted before was = Murphy's basic text:  that will give you a good grounding in many, = many=20 topics.
 
DMC
 
----- Original Message -----
From:=20 Katherine=20 Malm
Sent: Tuesday, August 12, 2003 = 6:22=20 AM
Subject: RE: [CANSLIM] elder = and triple=20 screens

Hi Jeff and DMC,
 
I feel that I need to speak up=20 here.
 
While I understand that there = are many=20 aspects to trading and that there are many that can influence and/or = be used=20 in CANSLIM investing, Elder triple screens, Elliott Wave theory, etc., = have=20 nothing to do with CANSLIM.
 
Let's stay on course so that the = folks who=20 are here for a particular discussion and purpose, CANSLIM, are getting = what=20 they expect when they come here. I wouldn't go to a 5 star French = restaurant=20 for a fast food burger. I wouldn't expect to come to a CANSLIM list = for broad=20 trading discussions.
 
Focus, simplicity, disclipline = and a deep=20 knowledge of the trading methodology are the hallmarks of = Master=20 Traders. Our purpose as members of this list is to develop that=20 mastery.
 
Katherine
-----Original Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff=20 Henderson
Sent: Tuesday, August 12, 2003 2:13 = AM
To:=20 canslim@lists.xmission.com
Subject: [CANSLIM] elder and = triple=20 screens

 

DMC,

 

Thank you = for the=20 book recommendations!  = I just=20 read Trading For a Living and = thought is was=20 really informative.  I = love his=20 themes and dry humor on trading =93losers=94, alcoholics and other = psychological=20 dysfunctions.  I loved = what he=20 said about treating trading psychological problems like you=92re in = AA, =93Good=20 morning, my name is Alex and I am a loser.  I have it in me to do = serious=20 financial damage to my account.=94 LOL

 

Anyway, I = have a=20 question regarding his triple screens trading.  Has anybody used this = technical=20 analysis before, and if you have, did you find that one of the = oscillators=20 works better than the others? =20 I=92m using a fast 5 day stochastic, but I think he really = suggests his=20 very own Force Index and Elder-Ray. =20 I was also thinking of adjusting his recommended stop losses = to=20 compensate for possible whipsawing.  Any=20 suggestions?  I = was=20 thinking of a moving exit using 1.2 times the 10 day ADR and = possibly=20 switching over to the parabolic system during a runaway=20 trend.

 

Thanks,

Jeff=20 H.

 

--Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]=20 On Behalf Of Fred=20 Richards
Sent:=20 Monday, August 11,=20 2003 = 8:05=20 AM
To:=20 canslim@lists.xmission.com
Subject: RE: [CANSLIM] a = random=20 thought

 

Katherine = is quite=20 correct about using the A/D to help identify stocks to consider and = possibly=20 add to one's portfolio.  I rely on setting up an alert and/or = stop loss=20 point using a trailing stop to protect my position profits.  = Then, if=20 we get stopped out of a position, we consider re-buying the position = when=20 the stock regains the stop loss point if the basic fundamentals and = other=20 technical aspects remain within our overall criteria.  If not, = we pass=20 on re-buying.

 

-----Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]=20 On Behalf Of = Katherine=20 Malm
Sent:=20 Monday, August=20 11, 2003 = 7:43=20 AM
To:=20 canslim@lists.xmission.com
Subject: RE: [CANSLIM] a = random=20 thought

Hi=20 Jeff,

 

In my experience, the A/D = is a decent=20 tool when buying into a long position (limiting buys to A, B or C) = but=20 it's a lousy indicator of tops. I remember in the March of 2000 = that all=20 the top stocks still had an "A" rating long after they'd = crashed off=20 their tops. The 13 weeks included in the indicator makes is a = lagging=20 indicator in my mind, too slow to catch the very near term price = action in=20 a stock that often triggers sell = rules.

 

The IBD says they don't = see it as a=20 lagging indicator and that it is one of their "fastest." Faster? = Yes,=20 faster than RS (52 weeks) or GRS (26 weeks), but not "non-lagging" = in my=20 opinion.

 

Katherine

-----Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff=20 Henderson
Sent:=20 Monday, August=20 11, 2003 = 6:27=20 AM
To: Canslim
Subject: [CANSLIM] a = random=20 thought

I = was thinking=20 that accumulation/distributor indicator seems to be a valuable = tool if=20 there is a lot (for lack of a better term) of institutional=20 sponsorship.  What = do y=92all=20 think? =20

 

Jeff=20 = H.

- ------=_NextPart_000_0092_01C360A1.A6E1E890-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #3504 ****************************** 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.