From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #844 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, March 9 2000 Volume 02 : Number 844 In this issue: Re: [CANSLIM] CGN [CANSLIM] Shorting and Canslim and Elder Re: [CANSLIM] Shorting and Canslim and Elder RE: [CANSLIM] splits and stops RE: [CANSLIM] splits and stops RE: [CANSLIM] splits and stops Re: [CANSLIM] Shorting and Canslim and Elder ---------------------------------------------------------------------- Date: Wed, 08 Mar 2000 13:51:43 -0800 From: Tim Fisher Subject: Re: [CANSLIM] CGN HTMMIS does say not to buy before the earnings announcement. On 12:15 PM 3/8/00 , Steve F Said: >OUCH !!! > >I guess I feel kind of silly on this one. > >Hope not too many followed me down the tubes on this one. >__________________________________________________ >Do You Yahoo!? >Talk to your friends online with Yahoo! Messenger. >http://im.yahoo.com 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, 08 Mar 2000 15:46:24 -0800 From: Mary Keener Subject: [CANSLIM] Shorting and Canslim and Elder Walter, How does one subscribe to Elder's intermittent newsletter? Didn't see a snail or e-mail address. His analogy of being drunk or sober is good, very good. Also, picking your battles. I've pushed myself into scenes, got caught up in the fight and usually lost, barely saving my skin. Now, I try to watch the battle, join the side that's winning and get out before the battle is over. Thanks, Walter. Shorting is part of investing. I'd like to see it discussed on this board. I know Tom and others are more against it than for it because of the risks involved. I'd rather address it, learn more since I suspect there are people on this board who short, but may feel it isn't a topic to be explored here. My opinion. Mary - - ------------------------------ Date: 8 Mar 2000 19:32:40 -0800 From: "Tim Fisher" Subject: Re: [CANSLIM] Shorting and Canslim and Elder I guess I get frustrated when I see posts such as one I saw on another list last week - "PALM is the perfect short. Wish I could short my IRA." I cringe at such a total lack of knowledge of the intricate and risky ways of picking and selling shorts (IMHO, PALM is about the riskiest short candidate I can think of right now. I'd rather short JDSU!). Therefore if it is to be discussed at all, it needs to be discussed appropriately to this lists' avowed purpose, i.e. within the confines of CANSLIM. Shorting the "Old Economy", most certainly Not-CANSLIM stocks is not an appropriate topic for this list. Picking stocks that are breaking down because their CANSLIM numbers are weakening could be an appropriate topic, but I have never seen "the shorters" who belong to this list want to engage in such a discussion. I put forth some (but certainly not all) of the stocks Herb Greenburg has been bashing as "shorting via CANSLIM" candidates. I think you could make a case for shorting something like Salton right now. It had (has?) pretty darn good numbers, is one heck of a risky long due to their reliance on one product line to make their sales comparisons, and their propensity to issue blowhard press releases with all sorts of forward looking statements that appear to have no other purpose than to bolster their share price. ACTN did this for a few months after it broke down (issued outright lies in some cases), and that was one heck of a good short signal. MANU I believe also had great CANSLIM numbers and then broke down almost to the ultimate bottom (like under 6!) from a high of about 100. I have no idea why that happened, but it has been mentioned as an ideal technical short that gave all the right signals on TSC. Here's hoping this sparks some intelligent, "shorting the WON way" type discussion. At 03:46 PM 3/8/00 -0800, you wrote: >Walter, > >How does one subscribe to Elder's intermittent >newsletter? Didn't see a snail or e-mail address. > >His analogy of being drunk or sober is good, very >good. Also, picking your battles. I've pushed >myself into scenes, got caught up in the fight >and usually lost, barely saving my skin. Now, >I try to watch the battle, join the side that's >winning and get out before the battle is over. > >Thanks, Walter. > >Shorting is part of investing. I'd like to >see it discussed on this board. I know Tom >and others are more against it than for it >because of the risks involved. I'd rather >address it, learn more since I suspect there >are people on this board who short, but >may feel it isn't a topic to be explored here. > >My opinion. >Mary > >- Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Wed, 8 Mar 2000 22:00:43 -0800 From: "mikelu" Subject: RE: [CANSLIM] splits and stops Burned again, this time on MOLX. I just found out from Schwab that if I enter/change a sell stop after 4:00PM Eastern, it's assumed to be a post-split price if the stock is splitting the next day. I didn't know this, and have been burned by it on the recent splits of MOLX, VRTS, and ITWO. The stocks were sold the day of the split, as the price opened far below stop. Does anyone have a broker that would do a better job of handling sell stops? I would expect that as I enter or modify a sell stop order, I'd get some notification that the stock is splitting and that I should make sure my stop price reflects this. Thanks, Mike - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of mikelu Sent: Monday, March 06, 2000 10:41 PM To: canslim@lists.xmission.com Subject: [CANSLIM] splits and stops I'm using Schwab and placing hard sell stops. When a stock is splitting the next trading day, it seems there's a small window of time after Schwab has updated existing sell stop orders to their post-split price and quantity, but you can modify the order unaware of the split. This caused me to sell VRTS today. A consolation is that I sold only the pre-split quantity, so I will still own 80 shares tomorrow. Mike - - - - ------------------------------ Date: Thu, 9 Mar 2000 13:32:32 -0800 From: "mikelu" Subject: RE: [CANSLIM] splits and stops Has anyone else using hard sell stops had this happen to them? Schwab says it isn't their fault - the market maker adjusts the orders in the book, not them. Mike - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of mikelu Sent: Wednesday, March 08, 2000 10:01 PM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] splits and stops Burned again, this time on MOLX. I just found out from Schwab that if I enter/change a sell stop after 4:00PM Eastern, it's assumed to be a post-split price if the stock is splitting the next day. I didn't know this, and have been burned by it on the recent splits of MOLX, VRTS, and ITWO. The stocks were sold the day of the split, as the price opened far below stop. Does anyone have a broker that would do a better job of handling sell stops? I would expect that as I enter or modify a sell stop order, I'd get some notification that the stock is splitting and that I should make sure my stop price reflects this. Thanks, Mike - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of mikelu Sent: Monday, March 06, 2000 10:41 PM To: canslim@lists.xmission.com Subject: [CANSLIM] splits and stops I'm using Schwab and placing hard sell stops. When a stock is splitting the next trading day, it seems there's a small window of time after Schwab has updated existing sell stop orders to their post-split price and quantity, but you can modify the order unaware of the split. This caused me to sell VRTS today. A consolation is that I sold only the pre-split quantity, so I will still own 80 shares tomorrow. Mike - - - - - - ------------------------------ Date: Thu, 09 Mar 2000 13:48:42 -0800 From: Tim Fisher Subject: RE: [CANSLIM] splits and stops I change my stops the morning after the split. I think that the couple hours' exposure you have by not changing it the night before is acceptable. I guess I can't see where Schwab is in the wrong here; if you halve your stop on the split day (splits are enacted at the close of trading on the preannounced split date, AFAIK), what else are they supposed to do, call you up and asked what you "really" wanted to do? You changed the stop after the stock had closed for trading on the preannounced split day. It opened the next day at the split price. Why do it more than once if you were burned the first time anyway? On 01:32 PM 3/9/00 , mikelu Said: >Has anyone else using hard sell stops had this happen to them? Schwab says >it isn't their fault - the market maker adjusts the orders in the book, not >them. > >Mike > >-----Original Message----- >From: owner-canslim@lists.xmission.com >[mailto:owner-canslim@lists.xmission.com]On Behalf Of mikelu >Sent: Wednesday, March 08, 2000 10:01 PM >To: canslim@lists.xmission.com >Subject: RE: [CANSLIM] splits and stops > > >Burned again, this time on MOLX. > >I just found out from Schwab that if I enter/change a sell stop after 4:00PM >Eastern, it's assumed to be a post-split price if the stock is splitting the >next day. I didn't know this, and have been burned by it on the recent >splits of MOLX, VRTS, and ITWO. The stocks were sold the day of the split, >as the price opened far below stop. > >Does anyone have a broker that would do a better job of handling sell stops? >I would expect that as I enter or modify a sell stop order, I'd get some >notification that the stock is splitting and that I should make sure my stop >price reflects this. > >Thanks, > >Mike > >-----Original Message----- >From: owner-canslim@lists.xmission.com >[mailto:owner-canslim@lists.xmission.com]On Behalf Of mikelu >Sent: Monday, March 06, 2000 10:41 PM >To: canslim@lists.xmission.com >Subject: [CANSLIM] splits and stops > > >I'm using Schwab and placing hard sell stops. > >When a stock is splitting the next trading day, it seems there's a small >window of time after Schwab has updated existing sell stop orders to their >post-split price and quantity, but you can modify the order unaware of the >split. This caused me to sell VRTS today. A consolation is that I sold only >the pre-split quantity, so I will still own 80 shares tomorrow. > >Mike > > >- > > >- > > >- Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Thu, 09 Mar 2000 21:57:42 -0500 From: Walter Stock Subject: Re: [CANSLIM] Shorting and Canslim and Elder Hi Mary, Go to www.elder.com and right on the home page you will find a grey "Subscribe" button. Click on it and send the email that comes up. The end of your second paragraph is one of the best and most succinct descriptions of successful investing that I have read. You are right that there are a number of people on this board who like to play both sides of the market. I know from the private email that some would like to discuss it publicly, but are afraid to post about it. The difficulty is that WON does not go into sufficient detail in his book. And I agree with Tim that Non-Canslim shorting should not really be discussed on this list. That is why I refused to disect my "old economy" shorts (which were all covered and closed by Wednesday anyway). Nevertheless WON's senior people certainly engage in the short side and do so very successfully. If the US markets ever do the full Nikkei-type 1990's implosion, then shorting will be the only way to make real money. I for one want to be ready. If and when I develop some specific *Canslim* shorting picks I will probably post them. Walter Mary Keener wrote: > Walter, > > How does one subscribe to Elder's intermittent > newsletter? Didn't see a snail or e-mail address. > > His analogy of being drunk or sober is good, very > good. Also, picking your battles. I've pushed > myself into scenes, got caught up in the fight > and usually lost, barely saving my skin. Now, > I try to watch the battle, join the side that's > winning and get out before the battle is over. > > Thanks, Walter. > > Shorting is part of investing. I'd like to > see it discussed on this board. I know Tom > and others are more against it than for it > because of the risks involved. I'd rather > address it, learn more since I suspect there > are people on this board who short, but > may feel it isn't a topic to be explored here. > > My opinion. > Mary > > - - - ------------------------------ End of canslim-digest V2 #844 ***************************** 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.