From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3520 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 Wednesday, August 13 2003 Volume 02 : Number 3520 In this issue: Re: OT: [CANSLIM] DMC not DMX [CANSLIM] Re:stocks at the top (was short selling (WEBX) ) Re: [CANSLIM] Re:stocks at the top Re: [CANSLIM] OFF TOPIC: DMC not DMX ---------------------------------------------------------------------- Date: Wed, 13 Aug 2003 12:07:42 EDT From: RWElmer@aol.com Subject: Re: OT: [CANSLIM] DMC not DMX - --part1_a9.4613bd78.2c6bbc4e_boundary Content-Type: text/plain; charset="US-ASCII" Content-Transfer-Encoding: 7bit Dudes, DMX and DMC both represent the rap world, just different generations of it. And now we can say hip hop is so pervasive that it's even infiltrated CANSLIM discussions. That Jes Grew is powerful stuff! Apologies to the Board for the quick OT. Robert W. Elmer - --part1_a9.4613bd78.2c6bbc4e_boundary Content-Type: text/html; charset="US-ASCII" Content-Transfer-Encoding: quoted-printable Dudes,

DMX and DMC both represent the rap world, just different generations of it.=20= And now we can say hip hop is so pervasive that it's even infiltrated CANSLI= M discussions. That Jes Grew is powerful stuff!

Apologies to the Board for the quick OT.

Robert W. Elmer
- --part1_a9.4613bd78.2c6bbc4e_boundary-- - - - -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: Wed, 13 Aug 2003 10:13:33 -0600 From: "Rolf Hertenstein" Subject: [CANSLIM] Re:stocks at the top (was short selling (WEBX) ) Right *at* the top is trickier. When I first read the question, I thought of, e.g., a Head & Shoulders Top, but by the time that formation is complete, it's already topped. Climax tops are a possibility, but where is *the* top as it's still going up? I thought TASR for instance was likely done at the end of July after quickly running from $12 to $20. But now it climaxed the climax to $25+. Was yesterday finally *the* top, since it did close well below the high on extremely high volume? Dunno. Same for PDII. Most other technicals, like a quick slice down through the 50 DMA, are telling me that a top may have already happened. Generally, I watch the price/volume action for decelerating price rise, especially on higher volume, and especially if higher volume days are also down days, to warn that a top may be approaching. This is also pretty much the way I try to gauge the markets as a whole. Nothing fancy. I'll be interested to hear other ideas. Rolf - ----- Original Message ----- From: "Katherine Malm" > Hi Harold (and all), > > Let's do this for the sake of discussion on the subject. Instead of me > simply listing how one (or I) would go about screening for failed tops, let > me ask of the group a preliminary question: > > What does a stock look like technically when it is *at* a top? - - - -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: Wed, 13 Aug 2003 09:28:18 -0700 From: "DMC197807" Subject: Re: [CANSLIM] Re:stocks at the top Rolf, Very smart post, imo. Remember the way to riches is to let the winners run and cut the losers short. It's not to lock in profits by selling a rising stock which is correcting normally. Weinstein has some things to say about this. I advised the original questioner to draw a trendline and see whether or not the price action violated the trendline. The trendline looks (jes' eyeballing it) like it's at about 20 right now. Maybe that's too much profit to give back. Another way to do it (Van Tharp) is to take the ATR and use a multiplier (1.5 X or 2 X) and set your stop at that number with some adjustments for round number activity. Since ATR is 1.56 in PDII then it seems wise to set the stop at somewhere between 2.50 and 3.00 below the highest closing price. Since the highest closing looks to be about 26, then you could set the stop at 23.46 or 22.96 (to avoid the round number bounces at 23.50 and 23. Some smart speculator (Baruch, Keynes) said, in true trend following fashion, I give up the first 20% and the last 20% of any gain to others, and keep the middle 60% for myself. DMC - ----- Original Message ----- From: "Rolf Hertenstein" To: Sent: Wednesday, August 13, 2003 9:13 AM Subject: [CANSLIM] Re:stocks at the top (was short selling (WEBX) ) > Right *at* the top is trickier. When I first read the question, I thought > of, e.g., a Head & Shoulders Top, but by the time that formation is > complete, it's already topped. Climax tops are a possibility, but where is > *the* top as it's still going up? I thought TASR for instance was likely > done at the end of July after quickly running from $12 to $20. But now it > climaxed the climax to $25+. Was yesterday finally *the* top, since it did > close well below the high on extremely high volume? Dunno. Same for PDII. > Most other technicals, like a quick slice down through the 50 DMA, are > telling me that a top may have already happened. > > Generally, I watch the price/volume action for decelerating price rise, > especially on higher volume, and especially if higher volume days are also > down days, to warn that a top may be approaching. This is also pretty much > the way I try to gauge the markets as a whole. Nothing fancy. > > I'll be interested to hear other ideas. > > Rolf > > ----- Original Message ----- > From: "Katherine Malm" > > > > Hi Harold (and all), > > > > Let's do this for the sake of discussion on the subject. Instead of me > > simply listing how one (or I) would go about screening for failed tops, > let > > me ask of the group a preliminary question: > > > > What does a stock look like technically when it is *at* a top? > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -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: Wed, 13 Aug 2003 10:44:48 -0600 From: "Rolf Hertenstein" Subject: Re: [CANSLIM] OFF TOPIC: DMC not DMX This is a multi-part message in MIME format. - ------=_NextPart_000_01C8_01C36187.EB05A200 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable WOW! What a collection! You could open a personal investing library. = I'd apply for a card (don't live in Colorado do you?). Rolf ----- Original Message -----=20 From: dctag@mavericktrading.com=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, August 13, 2003 10:02 AM Subject: RE: [CANSLIM] DMC not DMX Hello, I love books and have a little over 4 six foot bookshelves filled with = trading/investing related books. My top ones are in no particular order HTTMIS -Oneil The Hedge Fund Edge -Boucher Reminiscences of a Stock Operator -Lefevre Trading to Win -Kiev Small-cap Dynamics -Pradhuman Winning On Wall Street -Zweig All 3 Market Wizard books -Schwager Secrets for Profiting in Bull and Bear Markets -Weinstein Trader Vic -Victor Sperandeo Trade Your Way To Financial Freedom -Van Tharp There are a ton of other books that are worth reading but these are = the ones that come off the top of my head as really useful books for = CANSLIM and other momentum type traders. -David Taggart -----Original Message----- From: Jeff Henderson [mailto:JHend746@cox.net] Sent: Wednesday, August 13, 2003 9:24 AM To: canslim@lists.xmission.com Subject: [CANSLIM] DMC not DMX Sorry DMC, =20 I put DMX which is a famous rap artist-- must be my youth. lol =20 -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com] On Behalf Of Jeff Henderson Sent: Wednesday, August 13, 2003 6:29 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] stock software =20 Hey Katherine, =20 I was just curious about your recommendations on book readings. DMX = gave some great choices. =20 Thanks, Jeff =20 -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com] On Behalf Of DMC197807 Sent: Thursday, August 07, 2003 12:42 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] stock software =20 Jeff, =20 Those are 3 good books. Only about 50 more to go! =20 I actually think that Van Tharp's book and Stan Weinstein's book are = the first pillars of wisdom here, both well-written and logical. Van & = Stan, sounds like a car dealership. =20 Here is a basic list I made up for a young man (college boy) who = wanted to learn about TA and trading. It's about 1/3 the books I have = (I find Farley, Pring and Dorsey to be harder slogging in the initial = rounds, so put them off to later--by that time you'll be able to choose = your own books) and I'm sure that others may vote for different books in = the intial cut, but that's what makes a market, even in books: =20 E=3D Elder, Trading for a Living IBD=3D Investors Business Daily M=3D Murphy, Technical Analysis of the Financial Markets Ma=3D Moving Averages Simplified (Drokes) Mc=3DMcMillan, Options as a Strategic Investment Mo=3D Morris, Candlestick Charting Explained Ni=3D Nison, Beyond Candlesticks Vt=3D Van Tharp, Trade Your Way to Financial Freedom=20 Ta=3D Technical Analysis of Stocks & Commodities (magazine) W=3D Weinstein, Secrets of Profiting in Bull & Bear Markets =20 Things I don't find helpful in the early stages of learning are: = Gann, Fibonacci and Bulkowski's chart analysis. =20 DMC =20 ----- Original Message -----=20 From: Jeff Henderson=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, August 06, 2003 1:02 PM Subject: RE: [CANSLIM] stock software =20 I read How to Make Money in Stocks: A Winning System in Good Times = or Bad by William O'Neill and Trade Your Way to Financial Freedom by K. = Tharp and Nicholas Darvas's book How I Made 2,000,000 in the Stock = Market =20 -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com] On Behalf Of DMC197807 Sent: Wednesday, August 06, 2003 2:56 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] stock software =20 Jeff, =20 If you are a college student then I suggest you spend zero dollars = for software. You no doubt have access to high speed internet access = (aka the Big Pipe). You should be able to utilize a lot of free sites = (including this one) to get some education. I'd suggest using the MSN = site for scanning, the free section of stockcharts.com for charting (and = education) and the library for borrowing books. You can lurk at a = number of for-pay investment sites (SI comes to mind) and learn from a = number of very wise people. Most investment sites have an extensive = education spot (check out stockcharts, Bernie Schaefer). =20 If you're going to college in or near a big city, I'd suggest = signing up for free presentations/seminars offered by TC2K, Metastock, = 21st Century Investor Educ. Center (options), etc. If your college has = a business school you might look for a finance course, if it's Univ of = Penna, you might hang out at the Wharton School, etc. Also, check to = see if your school has an investment club/group/etc. These can be very = sophisticated, although they almost always are enamored of an FA = approach. =20 Btw, "I just got finished reading 3 stock books and I'm getting = anxious about trading" is a dangerous sentence to read. The market = stands ready, willing and able to separate you from your brokerage = account. I'm not saying "don't tread," but rather, "tread very = carefully." =20 Which 3 stock books did you read? =20 DMC ----- Original Message -----=20 From: Jeff Henderson=20 To: Canslim=20 Sent: Wednesday, August 06, 2003 11:57 AM Subject: [CANSLIM] stock software =20 Does anybody have any recommendations for stock software? I'm = looking for getting the most for my $ plus I'm a college student so, I = really don't have to much money to spend (<$100). Sorry if I'm asking = too many questions but it's my first day and I just got finished reading = 3 stock books and I'm getting anxious about trading. =20 Thanks, Jeff H. - ------=_NextPart_000_01C8_01C36187.EB05A200 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
WOW!  What a = collection!  You could=20 open a personal investing library.  I'd apply for a card (don't = live in=20 Colorado do you?).
 
 Rolf
----- Original Message -----
From:=20 dctag@mavericktrading.com =
To: canslim@lists.xmission.com=
Sent: Wednesday, August 13, = 2003 10:02=20 AM
Subject: RE: [CANSLIM] DMC not = DMX

Hello,
 
I=20 love books and have a little over 4 six foot bookshelves filled with=20 trading/investing related books.
 
My=20 top ones are in no particular order
 
HTTMIS  -Oneil
The=20 Hedge Fund Edge  -Boucher
Reminiscences of a Stock = Operator  =20 -Lefevre
Trading to Win   = - -Kiev
Small-cap Dynamics =20 -Pradhuman
Winning On Wall Street  =20 -Zweig
All=20 3 Market Wizard books  -Schwager
Secrets for Profiting in Bull and Bear = Markets =20 -Weinstein
Trader Vic  -Victor=20 Sperandeo
Trade Your Way To Financial Freedom  = - -Van=20 Tharp
 
 
There are a ton of other books that are = worth reading=20 but these are the ones that come off the top of my head as really = useful books=20 for CANSLIM and other momentum type traders.
 
-David Taggart
 
-----Original Message-----
From: Jeff Henderson=20 [mailto:JHend746@cox.net]
Sent: Wednesday, August 13, 2003 = 9:24=20 AM
To: canslim@lists.xmission.com
Subject: = [CANSLIM] DMC=20 not DMX

Sorry=20 DMC,

 

I put DMX = which is=20 a famous rap artist-- must be my youth. = lol

 

-----Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]=20 On Behalf Of Jeff=20 Henderson
Sent:=20
Wednesday, August=20 13, 2003 = 6:29=20 AM
To:=20 canslim@lists.xmission.com
Subject: RE: [CANSLIM] stock=20 software

 

Hey=20 Katherine,

 

I was=20 just curious about your recommendations on book readings.  DMX gave some great=20 choices.

 

Thanks,

Jeff

 

-----Original=20 Message-----
From:=20 owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]=20 On Behalf Of=20 DMC197807
Sent:=20
Thursday, August=20 07, 2003 = 12:42=20 PM
To:=20 canslim@lists.xmission.com
Subject: Re: [CANSLIM] stock=20 software

 

Jeff,

 

Those are 3 good = books. =20 Only about 50 more to go!

 

I actually think that = Van=20 Tharp's book and Stan Weinstein's book are the first pillars of = wisdom here,=20 both well-written and logical.  Van & Stan, sounds like a = car=20 dealership.

 

Here is a basic list I = made up=20 for a young man (college boy) who wanted to learn about TA and=20 trading.  It's about 1/3 the books I have (I find Farley, Pring = and=20 Dorsey to be harder slogging in the initial rounds, so put them off = to=20 later--by that time you'll be able to choose your own books) and I'm = sure=20 that others may vote for different books in the intial cut, but = that's what=20 makes a market, even in books:

 

E=3D Elder, Trading = for a=20 Living
IBD=3D  Investors Business Daily
M=3D Murphy, = Technical=20 Analysis of the Financial Markets
Ma=3D  Moving Averages = Simplified=20 (Drokes)
Mc=3DMcMillan, Options as a Strategic = Investment
Mo=3D Morris,=20 Candlestick Charting Explained
Ni=3D Nison,  Beyond=20 Candlesticks
Vt=3D  Van Tharp, Trade Your Way to Financial = Freedom=20

Ta=3D Technical = Analysis of Stocks=20 & Commodities (magazine)
W=3D Weinstein, Secrets of Profiting = in Bull=20 & Bear Markets

 

Things I don't find = helpful in=20 the early stages of learning are:  Gann, Fibonacci and = Bulkowski's=20 chart analysis.

 

DMC

 

----- Original = Message -----=20

From: Jeff = Henderson=20

To: canslim@lists.xmission.com= =20

Sent:=20 Wednesday, August=20 06, 2003 = 1:02=20 PM

Subject: RE:=20 [CANSLIM] stock software

 

I=20 read How to Make Money in = Stocks: A=20 Winning System in Good Times or Bad by William = O’Neill=20 and Trade Your Way to = Financial=20 Freedom by  K. Tharp and = Nicholas = Darvas’s book=20 How I Made 2,000,000 in = the Stock=20 Market

 

-----Original=20 Message-----
From: owner-canslim@lists.xmis= sion.com=20 [mailto:owner-canslim@lists.xmission.com] On Behalf Of =
DMC197807
Sent: =
Wednesday, August = 06,=20 2003 = 2:56=20 PM
To:=20 canslim@lists.xmission.com
Subject: Re: [CANSLIM] = stock=20 software

 

Jeff,

 

If = you are a=20 college student then I suggest you spend zero dollars for = software. =20 You no doubt have access to high speed internet access (aka the = Big=20 Pipe).  You should be able to utilize a lot of free sites = (including=20 this one) to get some education.  I'd suggest using the MSN = site for=20 scanning, the free section of stockcharts.com for charting (and = education)=20 and the library for borrowing books.  You can lurk at a = number of=20 for-pay investment sites (SI comes to mind) and learn from a = number of=20 very wise people.  Most investment sites have an extensive = education=20 spot (check out stockcharts, Bernie=20 Schaefer).

 

If = you're going=20 to college in or near a big city, I'd suggest signing up for free=20 presentations/seminars offered by TC2K, Metastock, 21st Century = Investor=20 Educ. Center (options), etc.  If your college has a business = school=20 you might look for a finance course, if it's Univ of Penna, you = might hang=20 out at the Wharton=20 School,=20 etc.  Also, check to see if your school has an investment=20 club/group/etc.  These can be very sophisticated, although = they=20 almost always are enamored of an FA=20 approach.

 

Btw, = "I just got=20 finished reading 3 stock books and I’m getting anxious about = trading" is a=20 dangerous sentence to read.  The market stands ready, willing = and=20 able to separate you from your brokerage account.  I'm not = saying=20 "don't tread," but rather, "tread very=20 carefully."

 

Which = 3 stock=20 books did you read?

 

DMC

----- Original=20 Message -----

From: Jeff = Henderson=20

To: Canslim=20

Sent:=20 Wednesday,=20 August 06, 2003 = 11:57=20 AM

Subject:=20 [CANSLIM] stock software

 

Does anybody=20 have any recommendations for stock software?  I’m looking for = getting the most=20 for my $ plus I’m a college student so, I really = don’t have to much=20 money to spend (<$100). =20 Sorry if I’m asking too many questions but = it’s my first day and=20 I just got finished reading 3 stock books and I’m getting = anxious about=20 trading.

 

Thanks,

Jeff=20 = H.

- ------=_NextPart_000_01C8_01C36187.EB05A200-- - - - -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 #3520 ****************************** 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.