From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #387 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 Friday, September 18 1998 Volume 02 : Number 387 In this issue: [CANSLIM] Follow-through day and Futures trading [CANSLIM] Irrelevant Technical Mumbo Jumbo [CANSLIM] Investment Advice - NonCANSLIM [CANSLIM] Investment Advice - nonCANSLIM Re: [CANSLIM] Part Two - Dave Cameron [CANSLIM] WON's AOL chat on 9/1 [CANSLIM]Stocks & Commodities CANSLIM Article [CANSLIM] 4 up days Re: [CANSLIM] Investment Advice - NonCANSLIM Re: [CANSLIM] 4 up days Re: [CANSLIM] WON's AOL chat on 9/1 ---------------------------------------------------------------------- Date: Wed, 16 Sep 1998 13:52:21 +0200 From: Johan Van Houtven Subject: [CANSLIM] Follow-through day and Futures trading Jeffry, Yes, please keep me updated on your futures trading if you'd like. I'd like to follow your 'moves' re: this futures trading to get an idea about how to trade futures. What the costs are, when to buy, when to sell. If you'd rather not tell me, no big deal. I'd understand. Your combination of follow-through day method, index futures (no more stock picking) fascinates me, so that's why I'm interested. Best Regards, - -- Johan Van Houtven - - ------------------------------ Date: Thu, 17 Sep 1998 08:14:47 -0400 From: "Frank V. Wolynski" Subject: [CANSLIM] Irrelevant Technical Mumbo Jumbo DJIA 200 SMA: 8555.04 50 SMA: 8564.49 A difference of basically 14 points. Yesterdays difference 31 points. The DJIA 50 SMA is coming down with increasing haste. The DJIA 50 SMA will cross negatively below the 200 SMA today. It will take some time to work this one off. I may have to become a daytrader to find opportunities here! :-) Last time we had the pleasure of the 50 trading beneath the 200 was back in 1994. With the benefit of hindsight, not a bad long term buying opportunity. This is not to imply that the markets repeat themselves in any way. FWIW Frank Wolynski - - ------------------------------ Date: Thu, 17 Sep 1998 07:59:28 -0500 (CDT) From: mckeener@ix.netcom.com Subject: [CANSLIM] Investment Advice - NonCANSLIM Dean Edwards, Have read about Jesse Livermore several times. He is my ideal investor - humble, sharp, market-wise, honest and diligent, un-complicated in his method with a "feel" that was uncanny. "There are many who claim years of experience. In most cases those years of experience represent little more than a few months experience repeated again and again over the years. Twenty years experience equal to one years experience repeated twenty times is par for the course." The above quote is most telling and just another way of viewing market experience. It isn't so much the years behind you that's important as what you have learned from those years that makes the difference. Sometimes, a novice can be very successful depending upon their approach and how they see themselves both as people and then as market watchers. I recall Db posting something once that had to do with the market and the psychology of the individual - character, influences both internal and external, etc. Excellent and true. This is what I find so challenging about trading. It isn't just numbers and making "instant" "quick" money. It's also about economics, psychology, history, politics, education. Two months ago, I had to stop trading. I found myself, once again, getting "caught up" in the daily moves of the stock prices I was trading. My emotions were ruling my decisions to the point that my account was tilting towards the negative. Now I'm paper trading, forcing myself to calm down, be patient, study the charts, get back to O'Neil and Livermore, observe, watch - all with the goal of simplifying, following the market with the best indicators (which I'm still trying to figure out), not the analysts, the forecasters, the "star" experts, "Zen" masters and others. Apologize for this long post, but maybe there are others out there who have gone off on a tangent, gotten discouraged and even contemplated quitting. Obviously, individual investing isn't for everyone and knowing you aren't the type is perceptive, however, to become good at something requires some time, failure and objectivity. Mary Keener - - ------------------------------ Date: Thu, 17 Sep 1998 08:10:20 -0500 (CDT) From: mckeener@ix.netcom.com Subject: [CANSLIM] Investment Advice - nonCANSLIM Johan Van Houtven, As with Dean Edwards, the title "How I Made a Million Dollars...." would have turned me off. Just goes to show that you can't judge by title, however hard that may be. Thanks for enlightening me. It's on my list. And thanks for the list. Noted. Mary Keener - - ------------------------------ Date: Thu, 17 Sep 1998 08:26:03 -0500 From: Dave Cameron Subject: Re: [CANSLIM] Part Two - Dave Cameron Jeffry White wrote: > > > Date: Mon, 14 Sep 1998 22:59:03 -0500 > > From: Dave Cameron > > Subject: Re: [CANSLIM] Part One - Group Strength; Part Two - NonCANSLIM > > > > Jeffry, old man, > > > > With all the comments this message generated, I can hardly WAIT to see > > Part Two. How many parts are there? Is this a mini-series? > > Haven't the foggiest what you are talking about, Dave. Posted a > comment/question to Tom W. under a heading which already existed, he > responded...that's that. That's because you're slippin' in your old age. The attached heading implies there might be a Part 3, Part 4, and Part 5.... I guess its really Tom's mini-series then. But, actually, when I logged in there were about 10 messages in a row with the subject line: "Part One - Group Strength; Part Two - NonCANSLIM" Yours was the first of the line; so I figured its a popular start to a potential mini-series. Geez, if you have to explain a joke - it loses its effectiveness! Dave C. > > Old Man. > > - - - ------------------------------ Date: Thu, 17 Sep 1998 11:46:54 -0700 From: mikelu Subject: [CANSLIM] WON's AOL chat on 9/1 Has this been posted already? I just saw it in DGO. http://www.dailygraphs.com/dgtranscripts/aolchat.htm Mike - - ------------------------------ Date: Thu, 17 Sep 1998 16:46:22 -0400 From: Jungbluth.Joe@oscsystems.com Subject: [CANSLIM]Stocks & Commodities CANSLIM Article A couple of days ago someone mentioned the article in TAofSC that provides an algorithm to scan for Cup/w Handle patterns. Has anyone tried to code this algorithm? What packages do you think could implement the scan? I have TC2000 which performs poorly in the time domain and of course Excel, but I don't feel like undertaking a Visual Basic project right now. Thanks, Joe jungbluth.joe@oscsystems.com - - ------------------------------ Date: Thu, 17 Sep 1998 20:46:15 -0700 From: mikelu Subject: [CANSLIM] 4 up days I thought I sent this yesterday, but it was still laying around... Vic Sperandeo in Trader Vic II says that 4 up-days in a row show the trend has changed. Do you think we have to wait for the Dow to get back above the 200dma or 50dma before it's safe? I've been planning to wait for individual stocks to get back above their 200 and 50-dma's before considering them, but I wonder if the same applies to the indexes. I'm losing patience. Mike - - ------------------------------ Date: Thu, 17 Sep 1998 21:54:45 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Investment Advice - NonCANSLIM Date sent: Thu, 17 Sep 1998 07:59:28 -0500 (CDT) From: mckeener@ix.netcom.com Had a couple of hopefully pertinent comments on your remarks - > Have read about Jesse Livermore several > times. He is my ideal investor - humble, > sharp, market-wise, honest and diligent, > un-complicated in his method with a > "feel" that was uncanny. One thing to remember about Livermore, which tells you something about being a full time investor and the dangers for even an experienced trader, is that he committed suicide. Can't remember the details, think it was during one of the periods where he was broke. > Two months ago, I had to stop trading. I found > myself, once again, getting "caught up" in the > daily moves of the stock prices I was trading. > My emotions were ruling my decisions to the point > that my account was tilting towards the negative. > Now I'm paper trading, forcing myself to calm > down, be patient, study the charts, get back to I've always remembered one of Darvas's experiences related in "How I Made Two Million....". He had been trading from Europe, where he only had weekly closing prices. He returned to NY, started listening to all the brokers and reading the news, and he started losing money. I had to cut himself off from all the market opinons and rumors he was hearing to get back on the profitable side. - - ------------------------------ Date: Fri, 18 Sep 1998 05:01:28 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] 4 up days On Thu, 17 Sep 1998 20:46:15 -0700, you wrote: :I thought I sent this yesterday, but it was still laying around... : :Vic Sperandeo in Trader Vic II says that 4 up-days in a row show the = trend=20 :has changed. Do you think we have to wait for the Dow to get back above = the=20 :200dma or 50dma before it's safe? I've been planning to wait for = individual=20 :stocks to get back above their 200 and 50-dma's before considering them,= =20 :but I wonder if the same applies to the indexes. : :I'm losing patience. : :Mike :=00=00 : If I were you, I'd hang on to my patience. I think you'll be glad you did. Today saw a sell-off, putting a major punctuation on that 4-up day cycle Vic may have referred to. Myself, I think the downside potential exceeds the upside, at least in the short term. Dan musicant@autobahn.org - - ------------------------------ Date: Fri, 18 Sep 1998 09:00:12 -0400 From: Craig Griffin Subject: Re: [CANSLIM] WON's AOL chat on 9/1 Mike, Thanks for posting the AOL chat with WON address! Very useful reading. He seems to be saying the bear market may continue for another one to four more months. Makes sense - if for no other reason than this: there are few nice bases out there yet. I also found his comment about leaders emerging over a 13 week period interesting. This agrees with a study I did from one of the steeper corrections a year or so ago (most of the new leadership stocks emerged in the first couple of months in that case). Best Regards, Craig At 11:46 AM 9/17/98 -0700, you wrote: >Has this been posted already? I just saw it in DGO. > >http://www.dailygraphs.com/dgtranscripts/aolchat.htm > >Mike > - - ------------------------------ End of canslim-digest V2 #387 ***************************** 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.