From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #586 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 Thursday, April 22 1999 Volume 02 : Number 586 In this issue: Re: [CANSLIM] M - Is this a rotation or a correction? [CANSLIM] WTSLA... [CANSLIM] ADCT Re: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner RE: [CANSLIM] source for the iandex graphs [CANSLIM] WTSLA, FDS, QCOM [CANSLIM] zzzAnother New Guy Re: [CANSLIM] zzzAnother New Guy [CANSLIM] A superlative free site; DELL [Connie Mack] Re: [CANSLIM] ADCT [CANSLIM] ASTX Re: [CANSLIM] Knight/Trimark (Surindra) Re: Fw: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner [CANSLIM] Daily Canslim Stock Screening Site FREE! RE: Fw: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner Re: [CANSLIM] Knight/Trimark (Surindra) Re: [CANSLIM] Knight/Trimark (Surindra) Re: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner Re: [CANSLIM] ASTX Re: [CANSLIM] zzzAnother New Guy [CANSLIM] Oil drillers- RIG ---------------------------------------------------------------------- Date: Wed, 21 Apr 1999 00:17:22 GMT From: musicant.pacbell.net@mail-gw2.pacbell.net (Dan Musicant) Subject: Re: [CANSLIM] M - Is this a rotation or a correction? On Tue, 20 Apr 1999 16:54:47 +0200, you wrote: :>An analyst on NBR on PBS tonight predicted a weakening bond market over :>the next few months -- yields coming down, and said that money will :>therefore not shift into bonds. He sees equities as the place to be. Of :>course, he's with a bullish group, and they are 85% in stocks, 5% in :>cash and the rest in bonds (I think).=20 :> :>Dan : :If interest rates stay low, we will almost certainly continue to enjoy = the :TINA effect. : : : :-- Johan Van Houtven What is the "TINA effect"? - -Dan (Charter member of ACA - Acronymically Challenged Anonymous, if I remember correctly...) - - ------------------------------ Date: Wed, 21 Apr 1999 11:19:03 -0500 From: "Ricardo Bekin" Subject: [CANSLIM] WTSLA... is breaking out this morning, up 2 7/8 on heavy volume, still buyable IMHO (I am thinking of the cup from July 98 to February 99 and the handle since then; or should I interpret the handle as having been forming since September 96?) http://quote.yahoo.com/q?s=WTSLA&d=1y and http://quote.yahoo.com/q?s=WTSLA&d=my - - ------------------------------ Date: Wed, 21 Apr 1999 11:27:06 -0500 (CDT) From: mckeen@ix.netcom.com Subject: [CANSLIM] ADCT Dave, A stop loss needs to be placed at 8% or thereabouts from the purchase price so that you are protected if the stock gaps down hard, as was the case with many on Monday. Losing 20% is steep but better than 25, 30 or more. Buying at the right time is another factor that will keep you in the plus, however, I find this most difficult with the volatility in today's market. No, you are not unique with stop loss rules. I have diverted a little from O'Neil's, sometimes not placing a stop loss at all, even if the stock goes down. It's risky, and I don't recommend it, however, I find especially internet-related stocks overly flexible. Research, watch the market, keep an eye on your stock's chart and the sector it's in, retain your profits but leave breathing room for those companies you want to stay with for the long-term. Hope this helps. Mary - - ------------------------------ Date: Wed, 21 Apr 1999 12:43:00 -0500 From: "John Adair" Subject: Re: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner Tom and Dave May I respectfully but in here. I feel Indexes are misleading or late. Most indices will have many stocks of all sizes. If it is cap weighted the large chop sticks may out vote the majority of the stocks. I propose the Iandex approach. where he picks the strongest stocks in 30 sectors. He graphs them daily as a composite. If the composite graph declines to the 17 day moving average Ian says to expect a correction. He was correct on the Monday decline and others previously. John Adair - ----- Original Message ----- From: Tom Worley To: Sent: Tuesday, April 20, 1999 10:58 PM Subject: Re: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner > Yeah, Dave, but the real difference is that Hays gets paid > for his opinions, while mine are freely given and worth > every nickle paid for them. > > It bothers me that recent comments from WON suggest breadth > is no longer important to him in measuring "M". I keep > wondering if I am missing something significant. But until I > figure it out, I plan to stay with more traditional > measurement tools like breadth; adv/decline; new highs/lows, > etc. > > It's about time something gets a good dialogue going in this > group on "M" and how best to measure, weigh and understand > it in these mkt conditions. > > In any case, I strongly believe you need to move in with and > marry the index (or indexes) that best mirror the type of > investing you are doing. I am still concentrating on small > caps, so the Russell 2000 works best for me despite the lack > of detail available. > > If you are investing across the board regardless of size, > sector, etc, then the S&P500 may work well. If you are > concentrating in a particular sector, find an index of that > sector. Learn it's behaviour well, and the factors that > influence it primarily. Don't completely ignore the rest of > the mkt, but realize that it's more noise than helpful. > > Tom Worley > stkguru@netside.net > chat with me at ICQ # 5568838 > get ICQ software at http://www.icq.com/icqhomepage.html > > > -----Original Message----- > From: Dave Cameron > To: canslim@lists.xmission.com > Date: Tuesday, April 20, 1999 11:05 PM > Subject: Re: [CANSLIM] M - Is this a rotation or a > correction? IBD Investors Corner > > > Johan Van Houtven wrote: > > > > As Hays sees it, the broad market has been in a bear since > April 1998. > > That's when the small-cap Russell 2000 topped. He turned > bullish on Sept. > > 7, in response to the market sell-off and a drop in > interest rates. But in > > mid-February Hays began turning more cautious. Three weeks > ago, his asset > > allocation model shifted to 35% stocks, 40% bonds and 25% > cash, its most > > defensive deployment since before the 1987 crash. > > > > Geee.... this guy (Don Hays) and Tom Worley have a big point > of agreement > here. Actually, one thing I learned is that the major > indices are not > really a good indicator of "M" for me. I need to look at > breadth. I > lost money last year because "M" kept signaling strength via > SPX and > DJIA - but more stocks were down than up. > > Dave Cameron > dfcameron@ameritech.net > > - > > > > - > > - - ------------------------------ Date: Wed, 21 Apr 1999 11:22:05 -0700 From: "Joe Barger" Subject: RE: [CANSLIM] source for the iandex graphs This is his address as listed in the HGS conference at Telescan (Wall Street City): mailto:rbrown@acton.com There is an extensive discussion of the iandex graphs (and other HGS topics) at the HGS conference site: http://www.wallstreetcity.com/talk/roundtables.htm There may be some sort of registration required (I don't remember), but it's free. Good luck. joe > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tim Fisher > Sent: Tuesday, April 20, 1999 12:12 PM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] source for the iandex graphs > > > Too bad this site is updated weekly instead of daily. Any idea > who Ron Brown > is? There isn't anything there to identify the owner and I got > his name off the > whois server at Networks Associates. > > On 05:03 PM 4/19/99 , Joe Barger Said: > >Or you can try this: > > > >http://www.hgsinvestor.com/iandexms30.html > > > > > >joe > > > > Tim Fisher > Ore-Rock-On and Pacific Fishery Biologists WWW Sites > > Tim@OreRockOn.com > WWW: http://OreRockOn.com > See naked fish and rocks! > > - > - - ------------------------------ Date: Wed, 21 Apr 1999 20:28:50 +0100 From: "Marc Laniado" Subject: [CANSLIM] WTSLA, FDS, QCOM Hi guy's, Thanks for the note on WTSLA which broke out today. All breakouts noted on interesting stocks will help all of us. Even better when the market suits us!! FDS looks like it's forming a cup with handle - good price and volume action. As a stock it seems fine, Earnings slightly down on the latest quarter compared to the previous quarter and group action appears in slight decline. Nevertheless, could be interesting if it breaks 50$ on greater than 90000 volume. QCOM almost did a high tight flag thing I see - a bit too much decline recently though. It seems difficult to catch stocks within the 5 -10% rule - this drives me completely crazy! All the best, Marc Marc E Laniado marclaniado@msn.com - - ------------------------------ Date: Wed, 21 Apr 1999 15:56:17 -0400 From: David Bojanowski Subject: [CANSLIM] zzzAnother New Guy Hello, I just subscribed to the digest form of the CANSLIM list. I bought (and read!) "How to Make Money in Stocks" about two years ago but I should really read it again. Unfortunately, I only made a few trades in that time due to a lack of $$$! But I am looking forward to getting back into the swing of things and learning more by (buy! buy! buy!) lurking here on this list. I've noticed that many people here make reference to a stock's chart formation. Can anyone here recommend a book(s) that can give me more information about how to read a chart? There are so many of them out there that its hard for me tell which ones are the best. Also, when looking at a stock's chart, what period of time is used (i.e. last 3 months, last 9 months, etc.)? I'm assuming that lots of people here subscribe to a chart service. I work for an investment company, so I'm fortunate enough to have BridgeStation on my PC (no I'm not a trader). But I'm forbidden from buying stocks in the field our company specializes in, so I have to do my own homework when it comes to investing. I have access to real-time quotes, news, and charts, so I don't need a chart service. I can make it draw lines over the charts (i.e. 100-day moving average, etc.) but I'm not sure which trend lines are best to use (i.e. 100-day and 200-day, or 200-day and 30-day, etc.). Any advice would be greatly appreciated! I'm 25 and live in New York. Dave - - ------------------------------ Date: Wed, 21 Apr 1999 16:23:00 -0700 From: "Peter Newell" Subject: Re: [CANSLIM] zzzAnother New Guy David, Welcome. I'd also check out O'neils 26 week course at www.investors.com it has some good examples. DB Phoenix a good website, catch one of his posts I lost the URL. Ian Woodward has some stuff at www.hgsinvestor.com. Peter Newell - -----Original Message----- From: David Bojanowski To: 'canslim@xmission.com' Date: Wednesday, April 21, 1999 12:59 PM Subject: [CANSLIM] zzzAnother New Guy >Hello, > >I just subscribed to the digest form of the CANSLIM list. I bought (and >read!) "How to Make Money in Stocks" about two years ago but I should >really read it again. Unfortunately, I only made a few trades in that >time due to a lack of $$$! But I am looking forward to getting back >into the swing of things and learning more by (buy! buy! buy!) lurking >here on this list. > >I've noticed that many people here make reference to a stock's chart >formation. Can anyone here recommend a book(s) that can give me more >information about how to read a chart? There are so many of them out >there that its hard for me tell which ones are the best. Also, when >looking at a stock's chart, what period of time is used (i.e. last 3 >months, last 9 months, etc.)? I'm assuming that lots of people here >subscribe to a chart service. I work for an investment company, so I'm >fortunate enough to have BridgeStation on my PC (no I'm not a trader). >But I'm forbidden from buying stocks in the field our company >specializes in, so I have to do my own homework when it comes to >investing. I have access to real-time quotes, news, and charts, so I >don't need a chart service. I can make it draw lines over the charts >(i.e. 100-day moving average, etc.) but I'm not sure which trend lines >are best to use (i.e. 100-day and 200-day, or 200-day and 30-day, etc.). >Any advice would be greatly appreciated! > >I'm 25 and live in New York. > >Dave > > >- > > - - ------------------------------ Date: Wed, 21 Apr 1999 20:16:38 -0400 From: Connie Mack Rea Subject: [CANSLIM] A superlative free site; DELL [Connie Mack] DELL has quieted considerably day to day. Its 200 EMA has held twice between 35-6. If you think the techs are beaten down enough, the entry here for long term is as safe as you'll have found in several months. Its quieting might even invite an attempt for those wishing to trade a little. My oil and driller list had but a single loss today. There is still money there, especially if we start supplying ground troops in Kosovo. There is a superlative free site useful for every member. It is more sophisticated by far than BigCharts--whose charts are still the best. I can't even get some of my faculty group to learn its intricacies. It is called Itrader. It has delayed quotes, time and sales, minute charts, indexes, news, many indicators, and dozens of other items. It has real time everything for further bucks. It has a stock ribbon at the bottom on which you can set visual and audible price alert prices. Be sure you view the Readme pages. Then be sure you check out all the icons on the status line. And from there go through completely the Help section. This new edition will even send you e-mail when certain parameters on a stock are set. Too, it claims to be quite amenable to the idiosyncrasies of exporting spreadsheets to word processors. Setup will take about 15 minutes on a 56K modem; twice that for a 28K. Just go into this URL: http://itrader.kanisa.com I have, just for fun, done a few trades using just Itrader and BigCharts. I did cheat a bit when I traded DELL by looking at my realtime sheet, but for a less volatile stock you can trade safely. I think most brokerages give you a realtime quote when you preview a buy; you could use this as a check on the delayed stuff on Itrader and BC. Connie Mack - - ------------------------------ Date: Wed, 21 Apr 1999 23:03:50 -0500 From: Dave Cameron Subject: Re: [CANSLIM] ADCT Tom Worley wrote (on ADCT): > > Dave, > > The chart basically looks to me like a LLUR (lower left > upper right) more than any other traditional pattern. > However, what chart pattern were you seeing at the time; > what target did you set; and what stop (mental or actual) > did you establish at entry? I saw a high at about 43-1/2 to 44 that was hit a couple times. This was on a 2-year chart, not a 1-year. This turns the LLUR pattern into more of a double bottom. The high of 44 was set in about Sept 97, Jan 98 and Mar 99. I bought on the first breakout above this level on high volume. I established a stop at 42-1/4, since this was definitively back in the range. This was about 10% below purchase price. Unfortunately, with a drop from 43 to 37 very quickly - I didn't get my stop price. OTOH, read on... > > And considering the lack of recovery today on heavy volume, > I can't disagree with your decision to exit. The potential > for a further drop is large, IMHO. I exited - but re-entered. It may be a mistake, but the solid recovery today brought me back in. This time the stop is pretty tight though... Thanks, Dave Cameron dfcameron@ameritech.net > > Tom Worley > stkguru@netside.net > chat with me at ICQ # 5568838 > get ICQ software at http://www.icq.com/icqhomepage.html > > -----Original Message----- > From: Dave Cameron > To: canslim > Date: Tuesday, April 20, 1999 11:00 PM > Subject: [CANSLIM] ADCT > > I'm curious as to where people would have put a stop loss > for ADCT. I bought in at the recent breakout - and got > hit hard on Monday when it dropped 6. Ended up selling > at a 20% loss instead of the recommended 7% since it dropped > from 43 to 37 in about 2 minutes. Should I have put a > stop above 43 - or was this one just one of those things. > > On a similar vein, I have a hard time sticking to O'Neil's > stop loss rules. I end up with stocks that gap down > quickly - and end up at a higher loss. Am I unique in > this respect? > > Thanks, > > Dave Cameron > dfcameron@ameritech.net > > - > > - - - ------------------------------ Date: Wed, 21 Apr 1999 23:08:57 -0500 From: Dave Cameron Subject: [CANSLIM] ASTX Maybe I shouldn't mention this - but ASTX had a breakout today (Wednesday Apr 21) on strong volume. I don't have an IBD in front of me - but I suspect its not really a true CANSLIM stock. But.... the reason I noticed it is that it had been one - and with the recent strength (from 4 to 14 in last 6 mos) was showing great a s/t lift. Anyway, one to research - for me anyway. Dave Cameron dfcameron@ameritech.net - - ------------------------------ Date: Thu, 22 Apr 1999 01:43:39 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Knight/Trimark (Surindra) Hey Surindra, I know I'm old, but don't rub it in! Actually, I don't believe trades have ever actually been done "by the mail". The first exchange was literally done on a street corner, near today's Wall Street. In the early days, exchanges (trades) were done by literally going to the "floor" of the exchange. Thus, in its early years, the only ones involved in the mkt were the businessment in the NYC area. Eventually, as lines of communication broadened, trades were called in to member firms in NYC for execution. I guess trades could be sent in by Western Union. And as communications evolved, sites with a "ticker tape" machine grew geographically, so interested parties could watch the mkt "live" assuming they knew how to read punched tape. Actual "off exchange" trading is, I believe relatively new and only a few decades old. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - -----Original Message----- From: Ssingh@aol.com To: canslim@lists.xmission.com Date: Wednesday, April 21, 1999 11:07 AM Subject: [CANSLIM] Knight/Trimark (Surindra) Tom, since internet brokage firms are relatively new, do you recall when trading was done by USP mail only? Just curious..... - - ------------------------------ Date: Wed, 21 Apr 1999 08:49:03 +0200 From: Johan Van Houtven Subject: Re: Fw: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner Marc, Recieved it from an email friend in the US. At 10:52 PM 20/04/99 +0100, you wrote: >Dear Johan, >Where do you manage to get investor's corner on line? - -- Johan Van Houtven - - ------------------------------ Date: Thu, 22 Apr 1999 00:29:35 -0700 From: IMF STAFF Subject: [CANSLIM] Daily Canslim Stock Screening Site FREE! The site listed below has: EPS, RS Rankings On 10,000 Stocks Daily including Daily CANSLIM, POWER RANK STOCKS, MOMENTUM PLAYS, CUP & HANDLE SEARCHES, and MORE! THE POWER RANK FILTER BUTTON IS NOW WORKING DAILY FOR PITBULL INVESTORS! Due to our own demand, we have developed an online stock screening tool that provides you all the stock data needed to work the PITBULL INVESTOR system and many others including CANSLIM. Go and try it out for yourself, it will save you hours, you can screen and sort stocks by: RS RANK EPS RANK INDUSTRY SECTOR 1 YR HIGH/LOW 5 YR HIGH CPM canslim AND MORE DAILY WITH ONE CLICK 100% FREE! http://www.stocktables.com - - ------------------------------ Date: Thu, 22 Apr 1999 02:04:40 -0700 From: "mikelu" Subject: RE: Fw: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner AOL has it; use keyword IBD. Mike - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Johan Van Houtven Sent: Tuesday, April 20, 1999 11:49 PM To: canslim@lists.xmission.com Subject: Re: Fw: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner Marc, Recieved it from an email friend in the US. At 10:52 PM 20/04/99 +0100, you wrote: >Dear Johan, >Where do you manage to get investor's corner on line? - -- Johan Van Houtven - - - - ------------------------------ Date: Thu, 22 Apr 1999 07:18:24 -0500 From: Walt Nusbaum Subject: Re: [CANSLIM] Knight/Trimark (Surindra) Hey Tom, Didn't we go to different schools together? Anyway, I believe initially, all mutual fund trading was done by mail. In the 70's(I'm not really clear on the decade), "telephone switching" became popular, but some fund families still insisted on using the US mail service. Best wishes, Walt The main difference between the haves and the have-nots are the dids and the did-nots. Unk. Tom Worley wrote: > > Hey Surindra, > > I know I'm old, but don't rub it in! > > Actually, I don't believe trades have ever actually been > done "by the mail". The first exchange was literally done on > a street corner, near today's Wall Street. In the early > days, exchanges (trades) were done by literally going to the > "floor" of the exchange. Thus, in its early years, the only > ones involved in the mkt were the businessment in the NYC > area. > > Eventually, as lines of communication broadened, trades were > called in to member firms in NYC for execution. I guess > trades could be sent in by Western Union. And as > communications evolved, sites with a "ticker tape" machine > grew geographically, so interested parties could watch the > mkt "live" assuming they knew how to read punched tape. > Actual "off exchange" trading is, I believe relatively new > and only a few decades old. > > Tom Worley > stkguru@netside.net > chat with me at ICQ # 5568838 > get ICQ software at http://www.icq.com/icqhomepage.html > > -----Original Message----- > From: Ssingh@aol.com > To: canslim@lists.xmission.com > Date: Wednesday, April 21, 1999 11:07 AM > Subject: [CANSLIM] Knight/Trimark (Surindra) > > Tom, since internet brokage firms are relatively new, do you > recall when > trading was done by USP mail only? Just curious..... > > - - - ------------------------------ Date: Thu, 22 Apr 1999 09:21:05 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Knight/Trimark (Surindra) One other comment I forgot, as I understand it, even today trade's on the German exchange are done by physically carrying the orders down to the exchange by a representative of the firm doing the transactions. Online trading is still very much of a new "phenomena" mostly found in the USA. I am still trying to get an answer from a personal contact at NITE whether or how soon they may open up accts for retail online trading, so far it's just their institutional clients. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - -----Original Message----- From: Walt Nusbaum To: canslim@lists.xmission.com Date: Thursday, April 22, 1999 8:19 AM Subject: Re: [CANSLIM] Knight/Trimark (Surindra) Hey Tom, Didn't we go to different schools together? Anyway, I believe initially, all mutual fund trading was done by mail. In the 70's(I'm not really clear on the decade), "telephone switching" became popular, but some fund families still insisted on using the US mail service. Best wishes, Walt The main difference between the haves and the have-nots are the dids and the did-nots. Unk. Tom Worley wrote: > > Hey Surindra, > > I know I'm old, but don't rub it in! > > Actually, I don't believe trades have ever actually been > done "by the mail". The first exchange was literally done on > a street corner, near today's Wall Street. In the early > days, exchanges (trades) were done by literally going to the > "floor" of the exchange. Thus, in its early years, the only > ones involved in the mkt were the businessment in the NYC > area. > > Eventually, as lines of communication broadened, trades were > called in to member firms in NYC for execution. I guess > trades could be sent in by Western Union. And as > communications evolved, sites with a "ticker tape" machine > grew geographically, so interested parties could watch the > mkt "live" assuming they knew how to read punched tape. > Actual "off exchange" trading is, I believe relatively new > and only a few decades old. > > Tom Worley > stkguru@netside.net > chat with me at ICQ # 5568838 > get ICQ software at http://www.icq.com/icqhomepage.html > > -----Original Message----- > From: Ssingh@aol.com > To: canslim@lists.xmission.com > Date: Wednesday, April 21, 1999 11:07 AM > Subject: [CANSLIM] Knight/Trimark (Surindra) > > Tom, since internet brokage firms are relatively new, do you > recall when > trading was done by USP mail only? Just curious..... > > - - - - - ------------------------------ Date: Thu, 22 Apr 1999 09:32:00 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner Hi John, I agree, indexes are lagging indicators. My point was that if you are trying to measure your own personal performance, using an index that mirrors your investments is useful. Since the index consists of many stocks, and is unmanaged, if the index closely matches what you are doing, and is beating you, then you are doing something wrong. If you can find a mutual fund that closely matches your investments, all the better since that would provide you a "managed" index. On the other hand, if you are investing across the board, the landex might provide the best "managed index" by which to measure your achievements. However, with only limited exposure to each sector, it may still fail to warn you of impending major deterioration in a particular sector. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - -----Original Message----- From: John Adair To: canslim@lists.xmission.com Date: Wednesday, April 21, 1999 1:38 PM Subject: Re: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner Tom and Dave May I respectfully but in here. I feel Indexes are misleading or late. Most indices will have many stocks of all sizes. If it is cap weighted the large chop sticks may out vote the majority of the stocks. I propose the Iandex approach. where he picks the strongest stocks in 30 sectors. He graphs them daily as a composite. If the composite graph declines to the 17 day moving average Ian says to expect a correction. He was correct on the Monday decline and others previously. John Adair - ----- Original Message ----- From: Tom Worley To: Sent: Tuesday, April 20, 1999 10:58 PM Subject: Re: [CANSLIM] M - Is this a rotation or a correction? IBD Investors Corner > Yeah, Dave, but the real difference is that Hays gets paid > for his opinions, while mine are freely given and worth > every nickle paid for them. > > It bothers me that recent comments from WON suggest breadth > is no longer important to him in measuring "M". I keep > wondering if I am missing something significant. But until I > figure it out, I plan to stay with more traditional > measurement tools like breadth; adv/decline; new highs/lows, > etc. > > It's about time something gets a good dialogue going in this > group on "M" and how best to measure, weigh and understand > it in these mkt conditions. > > In any case, I strongly believe you need to move in with and > marry the index (or indexes) that best mirror the type of > investing you are doing. I am still concentrating on small > caps, so the Russell 2000 works best for me despite the lack > of detail available. > > If you are investing across the board regardless of size, > sector, etc, then the S&P500 may work well. If you are > concentrating in a particular sector, find an index of that > sector. Learn it's behaviour well, and the factors that > influence it primarily. Don't completely ignore the rest of > the mkt, but realize that it's more noise than helpful. > > Tom Worley > stkguru@netside.net > chat with me at ICQ # 5568838 > get ICQ software at http://www.icq.com/icqhomepage.html > > > -----Original Message----- > From: Dave Cameron > To: canslim@lists.xmission.com > Date: Tuesday, April 20, 1999 11:05 PM > Subject: Re: [CANSLIM] M - Is this a rotation or a > correction? IBD Investors Corner > > > Johan Van Houtven wrote: > > > > As Hays sees it, the broad market has been in a bear since > April 1998. > > That's when the small-cap Russell 2000 topped. He turned > bullish on Sept. > > 7, in response to the market sell-off and a drop in > interest rates. But in > > mid-February Hays began turning more cautious. Three weeks > ago, his asset > > allocation model shifted to 35% stocks, 40% bonds and 25% > cash, its most > > defensive deployment since before the 1987 crash. > > > > Geee.... this guy (Don Hays) and Tom Worley have a big point > of agreement > here. Actually, one thing I learned is that the major > indices are not > really a good indicator of "M" for me. I need to look at > breadth. I > lost money last year because "M" kept signaling strength via > SPX and > DJIA - but more stocks were down than up. > > Dave Cameron > dfcameron@ameritech.net > > - > > > > - > > - - - - ------------------------------ Date: Thu, 22 Apr 1999 10:25:56 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] ASTX Dave, be careful. You are correct, it's definitely not CANSLIM with the past three consecutive qtrs earnings falling way under prior year, and last two consecutive qtrs sales also down sharply. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - -----Original Message----- From: Dave Cameron To: canslim Date: Thursday, April 22, 1999 12:11 AM Subject: [CANSLIM] ASTX Maybe I shouldn't mention this - but ASTX had a breakout today (Wednesday Apr 21) on strong volume. I don't have an IBD in front of me - but I suspect its not really a true CANSLIM stock. But.... the reason I noticed it is that it had been one - and with the recent strength (from 4 to 14 in last 6 mos) was showing great a s/t lift. Anyway, one to research - for me anyway. Dave Cameron dfcameron@ameritech.net - - - - ------------------------------ Date: Thu, 22 Apr 1999 09:38:24 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] zzzAnother New Guy Hi David, and welcome to the group. I subscribe to Daily Graphs Online, an O'Neil service. Tho expensive, it gives me authentic CANSLIM data from the master guru, updated daily. DGO uses 50 and 200 dma lines on its charts, which is pretty much a WON standard. I use these same SMAs on charts at BigCharts, along with the 10 day line, to help me with entry and exit points. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - -----Original Message----- From: David Bojanowski To: 'canslim@xmission.com' Date: Wednesday, April 21, 1999 4:01 PM Subject: [CANSLIM] zzzAnother New Guy Hello, I just subscribed to the digest form of the CANSLIM list. I bought (and read!) "How to Make Money in Stocks" about two years ago but I should really read it again. Unfortunately, I only made a few trades in that time due to a lack of $$$! But I am looking forward to getting back into the swing of things and learning more by (buy! buy! buy!) lurking here on this list. I've noticed that many people here make reference to a stock's chart formation. Can anyone here recommend a book(s) that can give me more information about how to read a chart? There are so many of them out there that its hard for me tell which ones are the best. Also, when looking at a stock's chart, what period of time is used (i.e. last 3 months, last 9 months, etc.)? I'm assuming that lots of people here subscribe to a chart service. I work for an investment company, so I'm fortunate enough to have BridgeStation on my PC (no I'm not a trader). But I'm forbidden from buying stocks in the field our company specializes in, so I have to do my own homework when it comes to investing. I have access to real-time quotes, news, and charts, so I don't need a chart service. I can make it draw lines over the charts (i.e. 100-day moving average, etc.) but I'm not sure which trend lines are best to use (i.e. 100-day and 200-day, or 200-day and 30-day, etc.). Any advice would be greatly appreciated! I'm 25 and live in New York. Dave - - - - ------------------------------ Date: Thu, 22 Apr 1999 10:07:05 -0700 From: Subject: [CANSLIM] Oil drillers- RIG I would appreciate comments on RIG (Transocean) ...an oil driller. It appears to be a nice cup and handle with a handle breakout around $30.25 on strong volume. The stock also went above its 200 dMA (1st time in 6 months) and appears to be staying there. RIG released earnings today at .85 vs. estimated .72... or .13 ahead of est. Group strength has been rapidly rising from 192 to 71 currently. Also have some questions on moving averages...I have seen references to the 3/7/10 dEMA on BigCharts...when I use BigCharts and use the 3 line EMA and enter a 3, I receive back a 3/6/9 EMA...Question is can you get a 3/7/10 EMA using BigCharts? What is the difference between an SMA and a EMA? Which is the most commonly used? Thanks, Ray "Ziggy" Wroblewski - - ------------------------------ End of canslim-digest V2 #586 ***************************** 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.