From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3532 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 Sunday, August 17 2003 Volume 02 : Number 3532 In this issue: Re: [CANSLIM] What is your profession? RE: [CANSLIM] TC2K RE: [CANSLIM] What is your profession? [CANSLIM] negatives of CANSLIM RE: [CANSLIM] negatives of CANSLIM Re: [CANSLIM] negatives of CANSLIM ---------------------------------------------------------------------- Date: Sun, 17 Aug 2003 14:25:53 -0400 From: "Charles & Lois Layne" Subject: Re: [CANSLIM] What is your profession? - ----- Original Message ----- From: "Yien T Lung" > > For the frequent members of this forum, what is your day to day > profession? Any of you guys retired and actively managing your hard earned > cash using CANSLIM? > 40-50 age group. Not retired (exception: retired Navy reserve. Translation: no retirement pay until age 60). Ordained clergy; pastor of a local church. Have learned a lot from CANSLIM, but do not currently use it; most of my stock purchases of late have been very short term trades. Chuck Layne - - - -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: Sun, 17 Aug 2003 12:58:44 -0700 From: "Harold Josephson" Subject: RE: [CANSLIM] TC2K On Thursday, the 14th, cwhCharts produced seven of which four were sustained. Friday, I received only one. Cheers Harold Josephson Tel: 323.850.1333 Fax: 323.512.8968=20 hj@hjosephson.com - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of DMC197807 Sent: Sunday, August 17, 2003 8:17 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] TC2K Harold, My pleasure. I've noticed just in the past few days that the number of canslim candidates the scanners are spitting out is falling. For = example, my 3 scans only produced 5 candidates, in total, based on Friday's = close. I'm thinking about why that is the case (I don't think the lighter vols = on Thursday & Friday would do it). I'm curious if other scans are drying up as well? Hmmm. DMC - ----- Original Message ----- From: "Harold Josephson" To: Sent: Saturday, August 16, 2003 11:48 PM Subject: RE: [CANSLIM] TC2K OOPS, Please ignore my later email with the same request. And thanks for the help Help Harold Josephson Tel: 323.850.1333 Fax: 323.512.8968 hj@hjosephson.com - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of DMC197807 Sent: Sunday, July 27, 2003 9:32 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] TC2K Lonnie, When I originally programmed my own canslim, I just used existing PCFs. = But Steve Goodwin was kind enough to send me the following, which I have = been playing with over the weekend (I now have 3 versions, but that's just = me): First create these 4 PCF s and then update all. 1 Name: Canslim Volume % Change Formula: ((V-AVGV50)/100) 2 Name: Canslim Relative Strength Formula: (C/(C250+.001)) 3 Name: Canslim Dahl (89) Formula: ((AVGC89-AVGC89.27)>0) 4 Name: Canslim Acc/Dis Formula: AVG(BOP,65) Then (the rest of the message won't copy), set a new easy scan at: capitalization at 1 - 95 earnings growth rate 5 year at: 74-99 eps percent change latest year at 56-99 canslim acc dist at: 80-99 canslim dahl canslim rel str value at: 80 to 99 canslim vol % change at 85 to 99 price as percent of 52 week high price H: 64-99 price per share H at: 54-99 If this one doesn't give you enough candidates, you may want to keep it = as CANSLIM #1 and add an easier version by changing the parameters as = CANSLIM #2, etc. (This is why I'm now playing with 3 versions). DMC - ---- Original Message ----- From: "Lonnie Brauner" To: Sent: Sunday, July 27, 2003 6:57 PM Subject: RE: [CANSLIM] Another mystery plunge > DMC, > > Could you share the programming? > > "As for programming the TC2K for canslim, I did it in about 5 > minutes--it was pretty easy. " > > Thanks, Lonnie > > Long time TC2000 user. > > > > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com] On Behalf Of DMC197807 > Sent: Friday, July 25, 2003 12:38 PM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Another mystery plunge > > > Pritish, > > No offense taken. I have no financial stake in any of these services. > TC2K is a data service with free software. The data I purchase (about > $20/month) I use not only to feed my TC2K monster, but my Metastock = and > AmiBroker as well. I could use the data in other ways, too, but time > becomes an issue. So the TC2K, with rather astounding, and = astoundingly > easy, programmability, costs me $240 per year. > > Let's remember what we're trying to do here: find a stock, one stock, > that is the most likely to perform, and find that one stock on a > frequency that matches our investment/speculation goals. I will hold = a > stock 1 day to 3 months (or longer) for performance, so I'm happy if I > can find the one stock out of 8,000 candidates once a week or so. I'm > also happy to look at the charts of 40 stocks a day (TC2K is really > pretty marvelous in its speed and > programmability) to do so. It's quite relaxing, rather like playing > cards. I also have it programmed for MA crossovers, bullish and = bearish > moneystream indications, volume surges, and high beta stocks showing > interesting price to moving average movements. > > As for programming the TC2K for canslim, I did it in about 5 = minutes--it > was pretty easy. Does it match the CET thing? I don't know, CET is > proprietary (I guess mine is too!). But it does spit out 5-10 canslim > candidates daily. After that, I apply various other filters and then > look at the charts. > > And I'm not criticizing breakoutwatch.com or other programs. What > really brought this up was Hong's statement that OSTE's TA was "great" > based on a blackbox rating. When you look at the daily chart, = however, > paying close attention to price action and volume, and other = indicators, > it seemed clear that the TA was at least questionable. In a = feverishly > bullish market, yes, it might continue higher. With the VIX spiking > below 20, SPX COTs skewed completely against the market, bull/bear at > extremely bearish positions, and put/call reminding us of May 02, is > this the time to be going long on any stock. > > DMC > > ----- Original Message ----- > From: "Pritish Shah" > To: ; > Sent: Friday, July 25, 2003 9:56 AM > Subject: Re: [CANSLIM] Another mystery plunge > > > DMC, > > Please do not consider what I say as criticism. > > With TC2K, you also have to purchase the subscription. Once you do = that, > you have to do the programming in it with the information that it = gives. > If such a program exists, then great. If not, then you have to do it > yourself. > > Also with TC2K, do you have to have the software running to get the > alerts? > > I am one of the subscribers of breakoutwatch.com and I find it > convenient that I can get the alerts anywhere via email. > > I look at Total Cost of Ownership. If I were to spend five weeks > programming and perfecting TC2K, then I would have spent 5 wks * 40 > hrs/wk * $40/hr or $8000 +$300/yr. In contrast, my Total Cost of > Ownership for breakoutwatch.com to be effective is $900/yr. > > No indicators are infallible. This is an "odds" game. What are the = odds > of you succeeding? If you can improve the odds above 50%, you are > successful. If you improve the odds to 60%, it is good. If a tool = helps > you improve the odds to 80%, it is great and that is what any = indicator > is about. > > For some TC2K makes sense. For others breakoutwatch.com makes sense. > > Pritish > > >>> dmc197807@comcast.net 7/25/2003 12:30:15 PM >>> > Hong, > > I'm not familiar with breakoutwatch.com's service (although I did just > visit their site). It looks pretty pricey for something you can > probably program pretty well with TC2K and a subscription to IBD. = $900 > per year for the "platinum" service? > > In general I don't think black boxes or canned trading systems work. > What works is careful screening, careful analysis, disciplined trading > and disciplined money and position management. Of these four, the = most > important are the latter two. > > Academics (business schools) like to point out that no TA system has > been successfully backtested to perform over lengthy periods of time. > True enough, because it is impossible to put in enough general market > and proof of trend indicators to reach a "scientific answer." Further > proof of failure of black box systems was the LTCM debacle. Also, as > Steve Nison likes to point out in analyzing candlesticks, unless you = can > define the trend, you don't have a candlestick. > > The big question here, the first question, is what is the condition of > the market. > > Finally, as for the CET thing on OSTE, with a rating of 6.8 out of 7.0 > and a big plunge, what does that tell you about the infallibility of > their rating system? > > DMC > > > ----- Original Message ----- > From: "Hong Hsu" > To: > Sent: Friday, July 25, 2003 9:12 AM > Subject: Re: [CANSLIM] Another mystery plunge > > > > DMC, > > > > For OSTE, the total TA score (CET) from breakoutwatch.com is = 6.8 > > out of 7. With that score I will tend to believe it has solid TA. > Does > > it? Maybe Katherine could share her insight. > > > > -Hong > > > > > > > > - > > -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. > > > - > -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. > > > > - > -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. - - - -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. - - - -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: Sun, 17 Aug 2003 13:04:32 -0700 From: "Harold Josephson" Subject: RE: [CANSLIM] What is your profession? Hi Kelly, May I ask about the mechanics of your approach? In particular: How do you develop your Watch List(s) of stocks that may be setting up? How and when are you alerted to breakout opportunities? At what point do you buy? Do you gradually increase your positions? Do you follow the CANSLIM "stop" recommendations, or might you exit earlier? Or later? Do you buy only CWH breakouts? Thanks, Harold 30+(a bunch) Harold Josephson Tel: 323.850.1333 Fax: 323.512.8968 hj@hjosephson.com - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Kelly Short Sent: Friday, August 15, 2003 6:08 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] What is your profession? Non-retired. Heck, just getting started (put me in the under 30 category). Technology, business development. Studied CANSLIM for 1 year before implementing. Very high degree of success since then. Currently at over 100% annualized return using CANSLIM. Plan to retire early! Kelly - -----Original Message----- From: Davellil5@aol.com [mailto:Davellil5@aol.com] Sent: Thursday, August 14, 2003 5:42 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] What is your profession? Retired! Formerly food product manufacturing, product development, and purchasing executive. Also, enjoyed a career in industrial quality control. Using CANSLIM and variations thereof to maintain and improve net worth of assets in retirement. I'll bet the answers you receive to your email will reveal a fascinating variety of high accomplishments by our pals in CANSLIM -- because it requires such intensive intellectual effort. Regards, Dave S. - - - -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. - - - -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: Sun, 17 Aug 2003 16:17:58 -0500 From: "Jeff Henderson" Subject: [CANSLIM] negatives of CANSLIM This is a multi-part message in MIME format. - ------=_NextPart_000_0001_01C364DB.1F71C130 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit Hi group, I'm glad that we can discuss companies using CANSLIM to evaluate companies, but I was wondering if any of you think there are any negatives to this system (as discussed in HTMMIS). I think it's important to fully evaluate a system, look for any absolutes or conditionals in the system and evaluate it against other options. For example I know CANSLIM works the best during a bull market and we are not in a full fledged bull market right now. Also, as far as using WON's entry signals, specifically the chart patterns, I will quote Tharp from his book, Trade your way to Financial Freedom re:Chart patterns in general "However, such patterns are very difficult to computerize and thus test. In addition when people do test these various patterns, they do not find anyevidence that they increase the reliability of entry signals beyond the 50 percent level." I do not doubt WON's methods, but I believe that skepticism is healthy and that is beneficial to discuss potential flaws in a system. Jeff - ------=_NextPart_000_0001_01C364DB.1F71C130 Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable

Hi group,

 

I’m glad that we can discuss companies using = CANSLIM to evaluate companies, but I was wondering if any of you think there are = any negatives to this system (as discussed in HTMMIS).  I think it’s important to = fully evaluate a system, look for any absolutes or conditionals in the system = and evaluate it against other options.  For example I know CANSLIM works the best during a bull market and we are = not in a full fledged bull market right now.  Also, as far as using WON’s = entry signals, specifically the chart patterns, I will quote Tharp from his = book, Trade your way to Financial Freedom re:Chart patterns in general “However, such patterns are very difficult to computerize and thus test.  In addition when people do test these various patterns, they do not find = anyevidence that they increase the reliability of = entry signals beyond the 50 percent level.”  I do not doubt WON’s methods, but I believe that skepticism is healthy and that is beneficial = to discuss potential flaws in a system.

 

Jeff

- ------=_NextPart_000_0001_01C364DB.1F71C130-- - - - -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: Sun, 17 Aug 2003 17:06:50 -0500 From: "Jeff Henderson" Subject: RE: [CANSLIM] negatives of CANSLIM This is a multi-part message in MIME format. - ------=_NextPart_000_0008_01C364E1.F32A22F0 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit Also I would never do percent stop losses or at least keep it at a flat rate. I think moving stop losses based on volatility seem more logical. - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Jeff Henderson Sent: Sunday, August 17, 2003 4:18 PM To: Canslim Subject: [CANSLIM] negatives of CANSLIM Hi group, I'm glad that we can discuss companies using CANSLIM to evaluate companies, but I was wondering if any of you think there are any negatives to this system (as discussed in HTMMIS). I think it's important to fully evaluate a system, look for any absolutes or conditionals in the system and evaluate it against other options. For example I know CANSLIM works the best during a bull market and we are not in a full fledged bull market right now. Also, as far as using WON's entry signals, specifically the chart patterns, I will quote Tharp from his book, Trade your way to Financial Freedom re:Chart patterns in general "However, such patterns are very difficult to computerize and thus test. In addition when people do test these various patterns, they do not find anyevidence that they increase the reliability of entry signals beyond the 50 percent level." I do not doubt WON's methods, but I believe that skepticism is healthy and that is beneficial to discuss potential flaws in a system. Jeff - ------=_NextPart_000_0008_01C364E1.F32A22F0 Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable

Also I would never do percent stop = losses or at least keep it at a flat rate.  I think moving stop losses based on volatility seem more = logical.

 

-----Original = Message-----
From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com] On Behalf Of Jeff Henderson
Sent: = Sunday, August 17, = 2003 4:18 PM
To: Canslim
Subject: [CANSLIM] = negatives of CANSLIM

 

Hi = group,

 

I’m glad that we can = discuss companies using CANSLIM to evaluate companies, but I was wondering if = any of you think there are any negatives to this system (as discussed in = HTMMIS).  I think it’s important to = fully evaluate a system, look for any absolutes or conditionals in the system and = evaluate it against other options.  For = example I know CANSLIM works the best during a bull market and we are not in a = full fledged bull market right now.  Also, as far as using WON’s entry signals, specifically the = chart patterns, I will quote Tharp from his book, Trade your way to = Financial Freedom re:Chart patterns in general “However, such patterns = are very difficult to computerize and thus test.  In addition when people do test these various patterns, they do = not find anyevidence that they increase the reliability of entry signals beyond = the 50 percent level.”  I do = not doubt WON’s methods, but I believe that skepticism is healthy and = that is beneficial to discuss potential flaws in a = system.

 

Jeff

- ------=_NextPart_000_0008_01C364E1.F32A22F0-- - - - -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: Sun, 17 Aug 2003 21:25:47 -0500 From: "Gene Ricci" Subject: Re: [CANSLIM] negatives of CANSLIM This is a multi-part message in MIME format. - ------=_NextPart_000_0484_01C36506.1FAAEB10 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Jeff, you're going to be highly disappointed if you think that CANSLIM = is a mechanical system.=20 Although I'm an advocate of many of Van Tharp's teachings..... I = wouldn't call on him to discuss charts and/or the worthiness of = patterns.=20 Gene ----- Original Message -----=20 From: Jeff Henderson=20 To: canslim@lists.xmission.com=20 Sent: Sunday, August 17, 2003 5:06 PM Subject: RE: [CANSLIM] negatives of CANSLIM Also I would never do percent stop losses or at least keep it at a = flat rate. I think moving stop losses based on volatility seem more = logical. =20 -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com] On Behalf Of Jeff Henderson Sent: Sunday, August 17, 2003 4:18 PM To: Canslim Subject: [CANSLIM] negatives of CANSLIM =20 Hi group, =20 I'm glad that we can discuss companies using CANSLIM to evaluate = companies, but I was wondering if any of you think there are any = negatives to this system (as discussed in HTMMIS). I think it's = important to fully evaluate a system, look for any absolutes or = conditionals in the system and evaluate it against other options. For = example I know CANSLIM works the best during a bull market and we are = not in a full fledged bull market right now. Also, as far as using = WON's entry signals, specifically the chart patterns, I will quote Tharp = from his book, Trade your way to Financial Freedom re:Chart patterns in = general "However, such patterns are very difficult to computerize and = thus test. In addition when people do test these various patterns, they = do not find anyevidence that they increase the reliability of entry = signals beyond the 50 percent level." I do not doubt WON's methods, but = I believe that skepticism is healthy and that is beneficial to discuss = potential flaws in a system. =20 Jeff - ------=_NextPart_000_0484_01C36506.1FAAEB10 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Jeff, you're going to be highly=20 disappointed if you think that CANSLIM is a mechanical system.=20
 
Although I'm an advocate of many = of Van=20 Tharp's teachings..... I wouldn't call on him to = discuss charts and/or=20 the worthiness of patterns.
 
Gene
 
----- Original Message -----
From:=20 Jeff = Henderson=20
Sent: Sunday, August 17, 2003 = 5:06=20 PM
Subject: RE: [CANSLIM] = negatives of=20 CANSLIM

Also I = would never do=20 percent stop losses or at least keep it at a flat rate.  I think moving stop losses = based on=20 volatility seem more logical.

 

-----Original=20 Message-----
From: = owner-canslim@lists.xmis= sion.com=20 [mailto:owner-canslim@lists.xmission.com] On Behalf Of Jeff = Henderson
Sent: Sunday, August 17,=20 2003 = 4:18=20 PM
To: Canslim
Subject: [CANSLIM] negatives of = CANSLIM

 

Hi=20 group,

 

I=92m glad that we can = discuss=20 companies using CANSLIM to evaluate companies, but I was wondering if = any of=20 you think there are any negatives to this system (as discussed in=20 HTMMIS).  I think it=92s = important=20 to fully evaluate a system, look for any absolutes or conditionals in = the=20 system and evaluate it against other options.  For example I know CANSLIM = works the=20 best during a bull market and we are not in a full fledged bull market = right=20 now.  Also, as far as = using WON=92s=20 entry signals, specifically the chart patterns, I will quote Tharp = from his=20 book, Trade your way to Financial Freedom re:Chart patterns in = general=20 =93However, such patterns are very difficult to computerize and thus = test.  In addition when people do = test these=20 various patterns, they do not find anyevidence that they increase the=20 reliability of entry signals beyond the 50 percent level.=94  I do not doubt WON=92s = methods, but I=20 believe that skepticism is healthy and that is beneficial to discuss = potential=20 flaws in a system.

 

Jeff

= - ------=_NextPart_000_0484_01C36506.1FAAEB10-- - - - -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 #3532 ****************************** 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.