From: "Tom Worley" Subject: Re: [CANSLIM] Non Canslim (was ask price not listed.) Date: 01 Jul 1998 06:04:25 -0400 Frank, The order of order execution depends on the system being used (e.g. NYSE/AMEX with floor specialists or NASDAQ thru various broker dealers/market makers). NYSE/AMEX - orders are placed into the "book" of the floor specialist in the order received, thus two "market" orders will be executed in the order received on the floor. If the first order moves the asking up (on a buy) or the bid down (on a sell) then the second order will get a less favorable price. When possible, the floor specialist will match limit orders, but if not he executes orders out of his book/inventory. NASDAQ - keep in mind that there is no "central clearing house" for these orders like the NYSE/AMEX. Thus your order may be held by the firm with your account, or it may be passed to another broker dealer who is a market maker. Even if your firm is not a market maker, they can still execute your market order, then go to another firm to cover their short/sell their long position. Thus two different orders being received at two different firms may be executed differently. Assuming both are market, one might be executed immediately in house, while the other might be given to another firm to execute, adding to the time needed. Another example would be if you are bidding for stock, say at 25.625. Just because you see trades being done at this price does not guarantee your execution, since those trades can be done at many other firms. Tho I must admit it's neat to enter a limit order and then watch the stock with live quotes and see your order change the bid/ask, then actually see your order executed, and the bid/ask change again (or see others line up behind you if you're not yet executed). As to "execution at the best price" issue, all firms should, but usually don't, give price improvement when possible on market orders. The "order display" rules have gone a long way towards tightening spreads, which is where most firms made a lot of money, but still those firms want whatever they can make. Thus two orders entered simultaneously, regardless of the exchange, with one a mkt sell and one a mkt buy, would likely be executed at the bid and ask respectively, not somewhere in between. I have dealt with a few firms that gave true price improvement on market orders, Knight Securities being one. Aside from them, my only personal experience at getting price improvement is by using limit orders. In several cases where they gave me instant execution on up to 2000 shares, but actually had to go to another dealer for stock, they called me back with a better price if they in turn got a better price from the other dealer. Thus they took mkt risk, yet still shared in the gains if the mkt moved favorably. I was pretty impressed with them. Interestingly, at Schwab, when you use a limit to buy below the bid, they still claim it as price improvement. Needless to say, I cried foul, their response was pretty wimpy but tried to defend their claim. However, they have not made the claim since on any of my limit orders that were executed. Speed of execution can also vary considerably depending on the systems being used. At my last job, where I entered the order on a computer linking me directly to the NYSE/AMEX/various options exchanges, I could see order execution in less than 20 seconds from the time I hit the final enter key. Only took me about 10-15 seconds to enter the order, so often I was calling the broker with a report before he even got back to his desk. Tom W -----Original Message----- >Tom, > >Thanks for the advice. I have wondered how it is decided regarding asked >prices being placed at the same price. For example if I placed an order to >buy 100 shares and someone else places a buy order at the same price as mine >how is it determined who's trade is placed first? Is the trade executed in >order or randomly? > >I also would like to know how market orders are executed? Is it executed at >the most favorable price to the person placing the order? Any suggestions >would be helpful. > >Thanks > >Frank > >- > - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: [CANSLIM] Non - canslim question Date: 01 Jul 1998 07:09:50 -0400 Any suggestions on where on the net I can get a daily after mkt list of stocks hitting new highs that day, preferably by exchange, that does not limit the price (remember I like all those non canslim stocks that are 99/99/A/A with a price under $12). I was getting this from dbc.com but apparently they have now restricted it to paying subscribers only. If need be, guess I'll have to use IBD, but it's neither timely nor as easy to use. Tom W - ------------------------------------------------------------------------------- From: Subject: [CANSLIM] Re. IBD Article Date: 01 Jul 1998 08:47:31 EDT Group: Yesterday there was an article in Investor's Corner of IBD I thought might be of some use. jans (Here it is): After nearly three months of going nowhere, the stock market has resumed its long advance. The Nasdaq, dominated by large techs, has been leading the way. The big-cap S&P 500 even hit a new high last week. I N V E S T O R ' S C O R N E R But look before you leap back into the market. Assemble a list of leading stocks and keep a close eye on it. When a stock breaks out, you've already done your homework and can buy it with confidence. There are various approaches to building a watch list, but the best is to zero in on stocks that are: Good price performers. Showing strong earnings. Poised to break out of a base. The idea is to be ready to buy a stock with high Relative Strength and Earnings Per Share ranks as measured by IBD . The time to buy the stock is when it is emerging from a basing formation of at least seven weeks and close to making a 52-week high. The move on the day of the breakout should come with a significant expansion in volume. The first step is to find high-performance stocks. For this story, IBD did a special screen of all stocks with both an 80 RS and 80 EPS rank. A total of 492 issues made the list. The next step was to trim the list to those stocks that were in basing formations and near their high. That required the visual study of each stock's chart. We found 22 high- performance stocks still in proper bases. They're ready to break out at any time. Investors can develop their own personal list of high- performance stocks. One approach might be combing through IBD'S tables and listing stocks with a 90 RS and 90 EPS rank. Another way is to follow the ''Industry Group Focus'' on the Companies In The News feature. IBD compiles the leading stocks of one industry each day. After several weeks, you'll have a list of leading stocks. Also check out the New York and Nasdaq ''Stocks In The News'' as well as the ''Weekend Graphic Review,'' which is published in Friday's Funds & Personal Finance section. The time to buy is on the day of the breakout from the base. Thus, investors need to monitor the list every day to see if a high-performance stock is starting a new leg up. There are other considerations. Stocks on a watch list should be owned by a few top mutual funds and have good earnings prospects. It's also wise to go with stocks over $25. That usually indicates a higher degree of quality. Low- priced issues are more speculative. Sitting at the top of IBD'S list in terms of price is Pfizer Inc., which is selling near 109. The stock has an 80 EPS rank and 93 RS. It ran up from 61 a year ago. So it has excellent upside momentum. Earnings this year should rise 23%, surpassing the 17% rate of growth the past five years. Pfizer is benefiting from strong sales of a hot new drug called Viagra, which is used to treat impotence. The stock has a good institutional following and is part of a strong industry group: drug makers. The breakout price is found by looking at the most recent areas of price resistance. In Pfizer's case, it's 115. The stock peaked at 121 3/4 on April 21. When it slipped back, it formed a basing pattern that showed resistance at 115 on May 1, May 20, June 18 and June 19. If a stock breaks out, it's probably resuming its uptrend. But watch out. Not all breakouts work. In some cases, the stock will slip back into the base. There are a few stocks on the watch list that are forming favorable bases. EMC Corp., a maker of computer storage products, has a 95 Relative Strength and a 92 EPS. Analysts forecast a 35% jump in EMC's earnings this year. It's been trading sideways for eight weeks above its rising 50-day moving average. Stocks will often break out after their 50-day catches up to the current price. Veterinary Centers of America Inc. has an 89 RS and 97 EPS rank. This year the Street sees earnings for the operator of veterinary hospitals climbing 34%. It's in an eight-week base with a breakpoint at 19 1/4. The stock has been trading in a tight range near the top of its base for the past six weeks. There are times during the market's cycles that the number of stocks on a particular watch list will be high or low. When the market is advancing strongly like it did earlier this year, the number will be low. That's because many high-quality stocks broke out. The number on the list will rise when the market is basing. That's when many high- quality stocks are still forming bases. So, it is during the ''dull times'' in the market that investors need to make their preparations to buy leading stocks. //////////////////////////////////////////////////////////// Copyright (c) 1998 Investors Business Daily, All rights reserved. Investor's Business Daily - Investor's Corner (06/30/98) Build A Watch List Before You Buy By Leo Fasciocco Transmitted: 07/01/98 07:13 (p0acem57) - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] HCPF & NATI Date: 01 Jul 1998 06:10:25 -0700 (PDT) <> There does seem to be a slight disagreement amongst bulls and bears over what this stock is worth, and there was no base-building to speak of before this spike up. It's not one I'd jump on. A lot of people were very eager to get rid of this thing a month ago. What's changed? --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: Tim Fisher Subject: [CANSLIM] ALGI Date: 01 Jul 1998 07:12:07 -0700 (PDT) I noticed this one on the tag-and-bag section of Clearstation when it popped up 7 points and added it to my "recommended" list there a few months ago cause it looked like an LLUR. Subsequently some of you have posted about it. No data on Zacks, too small for that. Anyway it's popping the cork and they don't know why. Thought I'd post this for grins. Anyone have any good data on it? Tuesday June 30, 10:26 am Eastern Time American Locker CEO doesn't know why stock up NEW YORK, June 30 (Reuters) - American Locker Group Inc.'s (ALGI - news) chairman and chief executive Harold Ruttenburg said he knows of no reason why his company's stock jumped 11 points early Tuesday to hit a new high of 39. ``I'm as bewildered as anyone,'' he told Reuters. ``Nobody has approached us (about an acquisition), nobody has written a report, our earnings won't be until the end of July.'' Trading volume of 38,600 shares was light. On Monday, the company closed at a new high of 28. The company makes and sells coin and key controlled checking lockers and locks. Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] ALGI Date: 01 Jul 1998 07:37:10 -0700 (PDT) <> Could be the same phenomenon as with Muriel Siebert. Fund managers are looking for places to put all this money, so they often jump on splits, and this stock had recently split 4:1, same as Siebert. Typically of the media, though, what the article fails to mention is that the stock closed pretty much where it opened for a net gain of an eighth of a point. Could also be symbol confusion. I remember a similar case involving TCOMA. There was some good news or other and everybody leapt on TCI, which happens to be a real estate company having nothing to do with cable (TCI is the name of the company that uses the symbol TCOMA; the symbol TCI is for Transcontinental Realty). --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: Tim Fisher Subject: [CANSLIM] THRX Date: 01 Jul 1998 09:39:25 -0700 Apparently the Cabot Newsletter dropped THRX from their recommended list= today - off 10% as of 12:30 NYT. Can you say "Double Bottom"? Can you say "Buying Opportunity"? I'm all in or I'd be tempted to watch for the bottom after the herd all falls off the cliff and grab some shares. Looks like it has hit bottom at 23- an hour ago.=20 P.S. It's #1 in my CASLI Killer Scan.=20 This is from yahoo's message board yesterday (take it for what it's worth!): Folks: =A0 Brace yourself for some nasty weather. The exodus you saw today around= 3:30 wasn't the usual daytraders. =A0 The word went out late this afternoon from Cabot to sell THRX! Guess= what? They see that the momentum has =A0 gone out of the stock. In the words of the great Paul WhateverHisNameIs,= "no duh." =A0 This should be exciting. Got another line ready to pick up more. The= last time Cabot said sell THRX, Ms. =A0 Jacobs let em have it and the stock rallied within a month. Cabot came= back in with a buy recommendation at =A0 the end of the rally so their subscribers could pick the lose change up= off the floor. Folks who pay good money =A0 for Cabot advice got left with just table scraps. Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites mailto:Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] THRX Date: 01 Jul 1998 10:10:45 -0700 (PDT) <> Not to argue, but it's not a buying opportunity until it shows renewed strength beyond a deadcat bounce. It could easily fall further. It's only begun to slow its descent, but that doesn't mean it's ready to rise. --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: "Ken Davidson" Subject: [CANSLIM] fed leaves rates alone Date: 01 Jul 1998 11:20:58 -0700 7/1/98 2:20 est. The Fed decided to leave rates alone after they finished their two day meeting to discuss if they were going to change their interest rate policy. Before the release of their statement the Dow was up about +50 points, S&P 500 up +6.50. The 30-year bond was up about +4/32nds lowering the yield to 5.61%. Initial reaction to the release saw the market ignore it completely as it had already discounted the announcement and remained flat. Ken - ------------------------------------------------------------------------------- From: "Amy Porter and Rich Bejtlich" Subject: [CANSLIM] Stock Screens Date: 01 Jul 1998 18:44:45 -0500 Hello all, I'm looking for a stock screen using CS principles. I've looked at www.marketplayer.com and others, but they don't seem to offer the quarter-to-quarter growth acceleration indicators advocated by WON. Has anyone found a screen best matching CS, either free online, subscription online, or subscription software? Also, is Daily Graphs Online the only PC product offered by WON, and does it screen for CS? Any other recommendations like Telescan, etc.? Thank you. As I learn more I hope to add to this discussion. Rich Bejtlich (bate-lik) P.S. I bought HAIN Monday, since it appeared to have the strongest CS numbers of any New America company of the last two months. Thanks to losses late Monday, Tuesday, and today, I'm below my 8% sell already and will probably liquidate tomorrow. I have held PSUN, LOWE, and ANF for two months; they are doing well. I bought HEI, IMCO, and BKE using CS during the last two months also and had to sell all three due to 8%+ drops. - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: Re: [CANSLIM] ALGI Date: 01 Jul 1998 19:55:45 -0400 Per DGO, even after moving quickly from 24 to 35, the trailing PE is still only 30. There is no forecast, thus less than three analysts following it, however I note it earned in Q1 (37 cents) more than half of what it earned for all of FY97 (71 cents). A/D is A, and funds already reported owning 8% of a very small issue (2.4 mil shares), no idea what the float may be. But this is what can happen on those non-canslim type microcaps when they get discovered by the funds. Course thanks to the price move, this one now has a market cap over $50 mil so guess it no longer qualifies as a micro and can now be counted as potential canslim. Way, way too extended for now, tho, for any consideration as a buy. Tom W -----Original Message----- Cc: upupandaway@shango.com >I noticed this one on the tag-and-bag section of Clearstation when it popped >up 7 points and added it to my "recommended" list there a few months ago >cause it looked like an LLUR. Subsequently some of you have posted about it. >No data on Zacks, too small for that. Anyway it's popping the cork and they >don't know why. Thought I'd post this for grins. Anyone have any good data >on it? > >Tuesday June 30, 10:26 am Eastern Time > >American Locker CEO doesn't know why stock up > >NEW YORK, June 30 (Reuters) - American Locker Group Inc.'s (ALGI - news) >chairman and chief executive Harold Ruttenburg >said he knows of no reason why his company's stock jumped 11 points early >Tuesday to hit a new high of 39. > >``I'm as bewildered as anyone,'' he told Reuters. ``Nobody has approached us >(about an acquisition), nobody has written a report, >our earnings won't be until the end of July.'' > >Trading volume of 38,600 shares was light. > >On Monday, the company closed at a new high of 28. > >The company makes and sells coin and key controlled checking lockers and locks. > >Tim Fisher, 1995 President, Pacific Fishery Biologists >Ore-ROCK-On Rockhounding Web Site >PFB Information >mailto:tim@OreRockOn.com >WWW http://OreRockOn.com > > >- > - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: [CANSLIM] AFCI trashed Date: 01 Jul 1998 20:10:47 -0400 If you want an example of how even a canslim stock can be trashed, and trash your portfolio, as well as how you can get killed on a simple sell stop (vice sell stop limit) take a look at Advanced Fiber Com. RS now down to 78, and likely to drop even lower. Lost 22 pts today (over 50%) when it warned of bad upcoming earnings (7 - 9 cents vice expectations for 17 cents). This stock before today had top drawer cs elements, and looking quickly at the chart I don't see any obvious warning signs other than "funds 48%" (and offsetting this somewhat was "management 22%"); u/d of 0.8; and a trailing PE of 70. Chart wise it looked decent before today. A/D was a B. Hopefully not a "shot across the bow" for the telecom-equip or telecom group in general, I haven't read the news release so don't know what factors they are blaming. Now for the automated response from db on how he avoided this one. Tom W - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] AFCI trashed Date: 01 Jul 1998 17:30:53 -0700 (PDT) <> ? --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: [CANSLIM] Totally Non-Canslim - db and JW don't read (was Finance - Money Daily @ 06/30/98) Date: 01 Jul 1998 20:30:23 -0400 With permission of the author, the following summary is passed to you on group action, since many are discussing group leadership. This is one of many reports I get daily free from Infobeat. The comments here reflect in particular the upcoming Q2 earnings reporting cycle. Tom W -----Original Message----- > by Michael Brush > http://moneydaily.com > > What those numbers show about the impact of Asian economic weakness, the growing trade deficit and the constraints companies face when they try to increase prices, will set the tone of the market for a good part of the summer - - if not longer. > > * Second verse, same as the first. Overall, the same sectors that got hit in the first quarter are likely to get spanked again. The biggest losers will be energy and basic materials, like paper and chemicals, areas hurt by declining commodity prices. > > In the energy sector, however, some newcomers have popped up. Oil drillers and equipment suppliers have joined the major oil companies in getting downward revisions to their earnings estimates. Last quarter, they squeaked by without too much damage. > > Technology companies continue to be under pressure, and here too there are some new faces: software companies. Trucking and airline firms are also under pressure for the first time. > > On the bright side, retailers, home builders, home furnishers and brokerage houses have received healthy upward revisions to their earnings, notes Charles Hill of First Call. These groups have gotten a shot in the arm from the wealth effect caused by the booming stock market, full employment and lower interest rates. > > "For our growth fund, we have been concentrating on the retail and consumer areas," says John Calamos, of Calamos Asset Management. "The economy seems to be doing well and the consumer seems to be driving it. These areas should continue to do well throughout the rest of the year." > > * Expect sluggish overall growth again. As of Friday, company analysts were looking for a 3.6% gain in the second-quarter earnings of S&P 500 companies, according to First Call. But if the normal number of positive surprises come through, you can expect actual profit growth of about 4% to 6%, says Hill. In the first quarter, S&P 500 earnings were up 3.8%. > > Hill says, however, that unless the second quarter comes through at the upper end of that 4% to 6% range, the markets may begin to have doubts about the 10.4% and 16% earnings growth expected in the third and fourth quarters. And that would weigh on the stock market. > > * Expect the usual amount of positive "surprises" to move the market up. Each quarter, earnings normally beat expectations by about 2% to 3%. That's because corporate investor relations departments ? not wanting to turn in a negative surprise -- typically talk Wall Street analysts down to the lower end of the range their company expects to earn. Even though the markets know this is going on, investors react favorably when the typical 2% to 3% "surprise" comes through. This quarter should be no different, says Hill. > > > Winners and losers: > Sectors with the biggest expected gains... > > Category Forecasted change* Change since > April 3 > Securities brokers +28% +24 percentage points > Autos > +26% +15 > Home construction > +26% +16 > Apparel retailers > +24% +7 > Specialty retailers +21% +5 > Broadline retailers +17% +2 > > ... and losses. > Secondary oil companies -52% -28 > Semiconductors -40% -14 > Railroads -32% -21 > Toys -25% -32 > Communication equipment -19% -10 > Forest products -18% -54 > Source: First Call > *Second quarter gains or losses compared to last year, as of June 26. > Send your commments to Michael Brush > - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: [CANSLIM] More Noise - simple economics (again, db and JW shouldn't read) Date: 01 Jul 1998 20:43:09 -0400 Tomorrow carries a heavy weight of economic reports, and so far the trend is that results will be worse than many forecast. The NAPM report today came in well under the forecast, 49.6 vice a drop to 51.0 expected. This is the first evidence of actual shrinkage, vice simple slowing, in so long that I can't remember. Construction spending likewise showed a serious drop, reporting a negative 1.5% vice expectations for a growth of 0.4% (still down from last month). Tomorrow, the major report due is the employment report, now forecast around 200,000 new jobs. Also due out is the overall unemployment, expected to increase slightly to 4.4%; hourly earnings expected to grow only 3 cents to $12.77; hours worked expected to drop slightly to 34.6/week; weekly jobless claims to grow substantially (much due to the GM strike) to 400,000 new claims; and factory orders (a portent of future economic activity) to drop further to a minus 1.4%. While the mkt was not expecting the weak NAPM report today, it shrugged it off (the bond mkt esp) because of the major rally in the Japanese mkt (note that the US bond mkt not selling off even with the Japanese mkt going up). But if all these reports come in at the levels being forecasted, or worse, then in combination they spell a seriously weakening economy. That's good for inflation fears and fears of a Fed rate hike, but the stock mkt won't like what it says about the ability of big cap stocks and intl corps to grow sales and earnings. This is potentially a lot of negative economic stuff for the bond and stock mkt to digest in a single day. I would expect lots of volatility at the least. And the GM strike clearly (pun not intended) muddies the waters and creates confusion, the one thing the mkt hates worse than inflation. Tom W - ------------------------------------------------------------------------------- From: Tannis Malone Subject: [CANSLIM] Re: Screening site Date: 01 Jul 1998 17:56:44 -0700 (PDT) You asked about a site that screens microcaps. Have you seen http://www.iqc.com/scan/? TM _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: Re: [CANSLIM] Stock Screens Date: 01 Jul 1998 21:03:11 -0400 Rich, As far as I am aware, DGO and the IBD website are all that Wm O'Neill is currently offering on the internet. I am not aware of him offering any of his many products on floppies either. One new feature of DGO now that it finally went commercial is a report updated daily which lists stocks within 5% of their high with RS and EPS of 80 or better and an A/D of B or better. As screens go, it could be better, but I find it a useful starting place, esp since you can scroll the charts for each one on the list quite easily and see the ones with bases. This list from trading on 6/30 has 262 stocks on it, but unlike db's still secret list, they won't all meet all seven elements of CANSLIM. Tom W -----Original Message----- >Hello all, > >I'm looking for a stock screen using CS principles. I've looked at >www.marketplayer.com and others, but they don't seem to offer the >quarter-to-quarter growth acceleration indicators advocated by WON. Has >anyone found a screen best matching CS, either free online, subscription >online, or subscription software? Also, is Daily Graphs Online the only PC >product offered by WON, and does it screen for CS? Any other >recommendations like Telescan, etc.? > >Thank you. As I learn more I hope to add to this discussion. > >Rich Bejtlich (bate-lik) > >P.S. I bought HAIN Monday, since it appeared to have the strongest CS >numbers of any New America company of the last two months. Thanks to losses >late Monday, Tuesday, and today, I'm below my 8% sell already and will >probably liquidate tomorrow. I have held PSUN, LOWE, and ANF for two >months; they are doing well. I bought HEI, IMCO, and BKE using CS during the >last two months also and had to sell all three due to 8%+ drops. > > > > >- > - ------------------------------------------------------------------------------- From: David Reid Subject: Re: [CANSLIM] Stock Screens (BUNZ Profit Warning) Date: 01 Jul 1998 21:23:26 -0700 After a big gap up today on some supposed "good news". BUNZ warned after closing today that they will miss 2cnd quarter estimates . The stock is up from 13 to 18 1/2 in just a few days. Check the news on yahoo. This may be another falling knife in the morning . I got out of this one with a loss a couple weeks ago. I may short first thing in morning. David Tom Worley wrote: > Rich, > > As far as I am aware, DGO and the IBD website are all that Wm O'Neill > is currently offering on the internet. I am not aware of him offering > any of his many products on floppies either. > > One new feature of DGO now that it finally went commercial is a report > updated daily which lists stocks within 5% of their high with RS and > EPS of 80 or better and an A/D of B or better. As screens go, it could > be better, but I find it a useful starting place, esp since you can > scroll the charts for each one on the list quite easily and see the > ones with bases. > > This list from trading on 6/30 has 262 stocks on it, but unlike db's > still secret list, they won't all meet all seven elements of CANSLIM. > > Tom W > > -----Original Message----- > From: Amy Porter and Rich Bejtlich > To: canslim@lists.xmission.com > Date: Wednesday, July 01, 1998 7:42 PM > Subject: [CANSLIM] Stock Screens > > >Hello all, > > > >I'm looking for a stock screen using CS principles. I've looked at > >www.marketplayer.com and others, but they don't seem to offer the > >quarter-to-quarter growth acceleration indicators advocated by WON. > Has > >anyone found a screen best matching CS, either free online, > subscription > >online, or subscription software? Also, is Daily Graphs Online the > only PC > >product offered by WON, and does it screen for CS? Any other > >recommendations like Telescan, etc.? > > > >Thank you. As I learn more I hope to add to this discussion. > > > >Rich Bejtlich (bate-lik) > > > >P.S. I bought HAIN Monday, since it appeared to have the strongest > CS > >numbers of any New America company of the last two months. Thanks to > losses > >late Monday, Tuesday, and today, I'm below my 8% sell already and > will > >probably liquidate tomorrow. I have held PSUN, LOWE, and ANF for two > >months; they are doing well. I bought HEI, IMCO, and BKE using CS > during the > >last two months also and had to sell all three due to 8%+ drops. > > > > > > > > > >- > > > > - - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: Re: [CANSLIM] AFCI trashed Date: 01 Jul 1998 21:22:41 -0400 Gee, db, you got an answer for virtually every thing else posted here? Are you in the dark on this one? Tom W -----Original Message----- > >< > >Tom W>> > > ? > >--Db > > > > > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > - ------------------------------------------------------------------------------- From: "Amy Porter and Rich Bejtlich" Subject: [CANSLIM] Re: canslim-digest V2 #306 Date: 01 Jul 1998 21:18:06 -0500 Regarding WON's position on IPOs: During his 6 June satellite investment conference, a caller asked how to apply CANSLIM to IPOs. She wanted to know how CS numbers could exist if the company just went public. WON replied that IBD uses numbers from before the issue, since a firm must exist and sell goods/services if it is to go public later! Therefore, earnings, ROE, etc. are available, although RS and other indicators comparing performance to other issues over a TTM period may be lacking. I also remember WON recommending to avoid IPOs until a familiar pattern develops, as with any other stock. Just my 2 cents. Richard Bejtlich - ------------------------------------------------------------------------------- From: "Thomas A. Moulton" Subject: Re: [CANSLIM] Stock Screens Date: 01 Jul 1998 22:25:49 -0500 Check out www.stockmaster.com Enter a Stock Symbol and use the pull down menu to pick Earnings History. It only shows the year to year in % growth but the quarterly numbers are formatted nice it's easy to check in your head. -- Thomas A. Moulton, W2VY http://www.xanthus.net/w2vy - ------------------------------------------------------------------------------- From: "Amy Porter and Rich Bejtlich" Subject: [CANSLIM] CANSLIM methodology question Date: 01 Jul 1998 21:37:57 -0500 After joining this group Friday, I can't keep quiet! Here's a deeper question. As I understand, WON developed CANSLIM after identifying characteristics common to the best performing 500 or so stocks of the last 40+ years, right before their greatest price advances. Here's my question: how many OTHER stocks, with similar characteristics, failed to perform? If 500 took off, did perhaps 100 others fail? Did 1000 fail? Did 10000 fail?!? In other words, how good are our odds with CANSLIM? I pondered this after reading James O'Shaughnessy's "What Works on Wall Street, Revised Edition." Skipping all the 50 best/50 worst analysis, I concentrated on his decile results. His approach to discovering the best stock strategy was to formulate many selection styles (like highest RS, PSR <1) and apply them to 40+ years of data. Some performed much better than others, like CANSLIM proposes to do. Do you see the difference between JOS and WON? (And what's with O'Whatever??) Are both approaches valid? I have not lost much sleep over this question but I'm curious as to your opinions. Richard Bejtlich - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] CANSLIM methodology question Date: 01 Jul 1998 19:52:20 -0700 (PDT) <> Whether both approaches are valid or not depends on what you want and expect from an investment strategy. The two approaches have nothing to do with each other. O'S' "strategies" are purely mechanical and are calculated over very long periods of time. Even so, his results are not spectacular. Better than the indices, but not spectacular. O'N, on the other hand, is talking about an investment package--finding and selecting stocks based on fundamentals, choosing entry and exit points based on chart patterns, determining the strategies for money and portfolio management which are most appropriate for oneself, and always keeping an eye peeled for what the stock's group and the market itself are up to. There is nothing mechanical about it. Nor is there anything necessarily long-term about it. You are correct in pointing out the logical fallacy of O'N's reasoning. It's tripped up many a would-be backtester. In other words, saying that X number of "winners" exhibited Y characteristics does not necessarily mean that all stock which exhibit Y will become winners. But, as I said, CS is a package. There's nothing unique about it. Many of its principles have been used for more than a century. But O'N was the first to put all these principles together in one place, then begin publishing a newspaper that would enable the individual investor to make best use of these principles in a practical manner. Even so, there is no scientific basis for the superiority or even desirability of O'N's "method". But thousands of people have been using it for ten years now and finding success with it. What's both gratifying and frustrating about it is that one's success with it depends almost entirely on oneself and not the method. --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: Mike Lucero Subject: RE: [CANSLIM] Stock Screens Date: 01 Jul 1998 19:56:39 -0700 HAIN wasn't breaking out of a 7+ week base. Buying a stock coming out of a base, just above an old previous 52-week high, would probably keep you from being stopped out with an 8% stop. That's where the 8% stop rule comes from. Mike On Wednesday, July 01, 1998 4:45 PM, Amy Porter and Rich Bejtlich [SMTP:bejtlich@texas.net] wrote: > Hello all, > > I'm looking for a stock screen using CS principles. I've looked at > www.marketplayer.com and others, but they don't seem to offer the > quarter-to-quarter growth acceleration indicators advocated by WON. Has > anyone found a screen best matching CS, either free online, subscription > online, or subscription software? Also, is Daily Graphs Online the only PC > product offered by WON, and does it screen for CS? Any other > recommendations like Telescan, etc.? > > Thank you. As I learn more I hope to add to this discussion. > > Rich Bejtlich (bate-lik) > > P.S. I bought HAIN Monday, since it appeared to have the strongest CS > numbers of any New America company of the last two months. Thanks to losses > late Monday, Tuesday, and today, I'm below my 8% sell already and will > probably liquidate tomorrow. I have held PSUN, LOWE, and ANF for two > months; they are doing well. I bought HEI, IMCO, and BKE using CS during the > last two months also and had to sell all three due to 8%+ drops. > > > > > > - ------------------------------------------------------------------------------- From: Mike Lucero Subject: RE: [CANSLIM] AFCI trashed Date: 01 Jul 1998 19:59:43 -0700 I'm a little worried that the buy signal came just at the end of a quarter. Most of the stocks on my watchlist (including those I've bought) will be reporting earnings very soon. I hope there's enough time for them to give me enough profit that they can take a hit and I won't have to sell. Mike On Wednesday, July 01, 1998 5:11 PM, Tom Worley [SMTP:stkguru@netside.net] wrote: > If you want an example of how even a canslim stock can be trashed, and > trash your portfolio, as well as how you can get killed on a simple > sell stop (vice sell stop limit) take a look at Advanced Fiber Com. RS > now down to 78, and likely to drop even lower. Lost 22 pts today (over > 50%) when it warned of bad upcoming earnings (7 - 9 cents vice > expectations for 17 cents). This stock before today had top drawer cs > elements, and looking quickly at the chart I don't see any obvious > warning signs other than "funds 48%" (and offsetting this somewhat was > "management 22%"); u/d of 0.8; and a trailing PE of 70. Chart wise it > looked decent before today. A/D was a B. Hopefully not a "shot across > the bow" for the telecom-equip or telecom group in general, I haven't > read the news release so don't know what factors they are blaming. > > Now for the automated response from db on how he avoided this one. > > > Tom W > > > > > - ------------------------------------------------------------------------------- From: Mike Lucero Subject: RE: [CANSLIM] AFCI trashed Date: 01 Jul 1998 20:19:43 -0700 I meant the market's buy signal on Tuesday of last week. Mike On Wednesday, July 01, 1998 8:00 PM, Mike Lucero [SMTP:mikelu@foxinternet.net] wrote: > I'm a little worried that the buy signal came just at the end of a quarter. > Most of the stocks on my watchlist (including those I've bought) will be > reporting earnings very soon. I hope there's enough time for them to give > me enough profit that they can take a hit and I won't have to sell. > > Mike > > On Wednesday, July 01, 1998 5:11 PM, Tom Worley [SMTP:stkguru@netside.net] > wrote: > > If you want an example of how even a canslim stock can be trashed, and > > trash your portfolio, as well as how you can get killed on a simple > > sell stop (vice sell stop limit) take a look at Advanced Fiber Com. RS > > now down to 78, and likely to drop even lower. Lost 22 pts today (over > > 50%) when it warned of bad upcoming earnings (7 - 9 cents vice > > expectations for 17 cents). This stock before today had top drawer cs > > elements, and looking quickly at the chart I don't see any obvious > > warning signs other than "funds 48%" (and offsetting this somewhat was > > "management 22%"); u/d of 0.8; and a trailing PE of 70. Chart wise it > > looked decent before today. A/D was a B. Hopefully not a "shot across > > the bow" for the telecom-equip or telecom group in general, I haven't > > read the news release so don't know what factors they are blaming. > > > > Now for the automated response from db on how he avoided this one. > > > > > > Tom W > > > > > > > > > > > > > - ------------------------------------------------------------------------------- From: dbphoenix Subject: RE: [CANSLIM] AFCI trashed Date: 01 Jul 1998 20:36:14 -0700 (PDT) <> Wouldn't be a bad time to begin reviewing your strategy in terms of price targets, how much profit you have, at what point you may want to take a percentage off the table, what you plan to do if the stock has a run-up right before earnings, where you'll put your stop in case things don't go your way, etc. Just think of it as a business decision that has nothing to do with your self-worth. Pretend you're a fund manager and it's somebody else's money :) --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: "Dan Sutton" Subject: RE: [CANSLIM] AFCI trashed Date: 01 Jul 1998 20:55:47 -0600 I have drafted and deleted several replies to this post. Fortunately, I learned a long time ago not to send the first response that comes to mind. If you truly want an answer I would suggest you phrase your question in a more professional and less insulting manner. If you just want to stir up the shit again and clutter everybody's computer with unwanted insults, I would suggest that you e-mail your target privately so I don't have to wade through 20 e-mailed childish insults. That particular exercise in futility has already had it's run, and really doesn't help me focus on gleaning any information from the group. To paraphrase another member.. "Click" -----Original Message----- [mailto:owner-canslim@lists.xmission.com] On Behalf Of Tom Worley Sent: Wednesday, July 01, 1998 7:23 PM Gee, db, you got an answer for virtually every thing else posted here? Are you in the dark on this one? Tom W -----Original Message----- > >< > >Tom W>> > > ? > >--Db > > > > > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > - - ------------------------------------------------------------------------------- From: "Dan Sutton" Subject: RE: [CANSLIM] Stock Screens Date: 01 Jul 1998 22:00:57 -0600 Telescan is the closest customizable screening software I have found. It still has some quirks and the numbers do not always coincide with those of IBD but it's good for screens of a massive magnitude. You still need to do more research even after you have found a list of candidates. -----Original Message----- [mailto:owner-canslim@lists.xmission.com] On Behalf Of Amy Porter and Rich Bejtlich Sent: Wednesday, July 01, 1998 5:45 PM Hello all, I'm looking for a stock screen using CS principles. I've looked at www.marketplayer.com and others, but they don't seem to offer the quarter-to-quarter growth acceleration indicators advocated by WON. Has anyone found a screen best matching CS, either free online, subscription online, or subscription software? Also, is Daily Graphs Online the only PC product offered by WON, and does it screen for CS? Any other recommendations like Telescan, etc.? Thank you. As I learn more I hope to add to this discussion. Rich Bejtlich (bate-lik) P.S. I bought HAIN Monday, since it appeared to have the strongest CS numbers of any New America company of the last two months. Thanks to losses late Monday, Tuesday, and today, I'm below my 8% sell already and will probably liquidate tomorrow. I have held PSUN, LOWE, and ANF for two months; they are doing well. I bought HEI, IMCO, and BKE using CS during the last two months also and had to sell all three due to 8%+ drops. - - ------------------------------------------------------------------------------- From: "Dan Sutton" Subject: [CANSLIM] HGS file (07/01/98) Date: 01 Jul 1998 22:11:39 -0600 Ok , so the market jumped 90 points...here's tonights HGS scan ftp://ftp.xmission.com/pub/users/m/mcjathan/canslim/hgs0701.xls - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] HGS file (07/01/98) Date: 01 Jul 1998 22:10:45 -0700 (PDT) Of Dan's list, the following have a rising weekly MACD, a 50d > 200d, and a rising daily slosto within the last five days. ADVP ANF CRFT DFG ERICY ESCA ISCG MRTN OROA --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: Dean Edwards Subject: [CANSLIM] More Noise - simple economics (again, db and JW Date: 02 Jul 1998 17:30:48 Tom, Are you still bullish on the US economy? I noted with interest the US railroad sector in particular, in your previous email - Railroads -32% -21. Being from New Zealand and as an observer, it seems to me the US market is euphoric state, especially with the internet group stocks. I am amazed at our resilient the US market is, compared to the rest of the world. My interpretation would be that US consumer spending is still driving the market upward - autos, home construction and retailers but for how long? Doom and gloom has struck New Zealand and the rest of Asia. It has been anounced that NZ had negative GDP for the first quater. One more quarter of negative GDP growth and we will be officially in a recession along with Japan. My fellow government statistician took one look at the railway statistics for NZ and is already predicting a recession. Based on the fact that most of our NZ exports (coal,wood logs,dairy products) are transported by railroad. ---------------------- Forwarded by Dean Edwards on 02/07/98 15:57 --------------------------- stkguru@netside.net ("Tom Worley") on 02/07/98 12:43:09 cc: (bcc: Dean Edwards) read) Tomorrow carries a heavy weight of economic reports, and so far the trend is that results will be worse than many forecast. The NAPM report today came in well under the forecast, 49.6 vice a drop to 51.0 expected. This is the first evidence of actual shrinkage, vice simple slowing, in so long that I can't remember. Construction spending likewise showed a serious drop, reporting a negative 1.5% vice expectations for a growth of 0.4% (still down from last month). Tomorrow, the major report due is the employment report, now forecast around 200,000 new jobs. Also due out is the overall unemployment, expected to increase slightly to 4.4%; hourly earnings expected to grow only 3 cents to $12.77; hours worked expected to drop slightly to 34.6/week; weekly jobless claims to grow substantially (much due to the GM strike) to 400,000 new claims; and factory orders (a portent of future economic activity) to drop further to a minus 1.4%. While the mkt was not expecting the weak NAPM report today, it shrugged it off (the bond mkt esp) because of the major rally in the Japanese mkt (note that the US bond mkt not selling off even with the Japanese mkt going up). But if all these reports come in at the levels being forecasted, or worse, then in combination they spell a seriously weakening economy. That's good for inflation fears and fears of a Fed rate hike, but the stock mkt won't like what it says about the ability of big cap stocks and intl corps to grow sales and earnings. This is potentially a lot of negative economic stuff for the bond and stock mkt to digest in a single day. I would expect lots of volatility at the least. And the GM strike clearly (pun not intended) muddies the waters and creates confusion, the one thing the mkt hates worse than inflation. Tom W - - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: Re: [CANSLIM] CANSLIM methodology question Date: 02 Jul 1998 06:10:45 -0400 Rich, One thing that I have found that sets WON's approach apart from many other "systems" is that he not only has rules on selling, he has far more rules on when and why to sell than on what and when to buy. Tom W -----Original Message----- >Here's a deeper question. As I understand, WON developed CANSLIM after >identifying characteristics common to the best performing 500 or so stocks >of the last 40+ years, right before their greatest price advances. Here's >my question: how many OTHER stocks, with similar characteristics, failed to >perform? If 500 took off, did perhaps 100 others fail? Did 1000 fail? Did >10000 fail?!? In other words, how good are our odds with CANSLIM? > >I pondered this after reading James O'Shaughnessy's "What Works on Wall >Street, Revised Edition." Skipping all the 50 best/50 worst analysis, I > >Do you see the difference between JOS and WON? (And what's with >O'Whatever??) Are both approaches valid? > - ------------------------------------------------------------------------------- From: Robert Bomba <73223.2767@compuserve.com> Subject: RE: [CANSLIM] AFCI trashed Date: 02 Jul 1998 06:46:11 -0400 >> Wouldn't be a bad time to begin reviewing your strategy in terms of price targets, how much profit you have, at what point you may want to take a percentage off the table, << I agree with that 100%. I'm selling LCOS,BBY,BCF & ATI at least today. All four have had nice runups & the old saying, "Bulls make money, Bears make money but Pigs get eaten" is true in any market (G). Bob - ------------------------------------------------------------------------------- From: "Frank V. Wolynski" Subject: Re: [CANSLIM] HGS file (07/01/98) Date: 02 Jul 1998 08:16:56 -0400 >at 22:10 7/1/98 -0700, you wrote: > >Of Dan's list, the following have a rising weekly MACD, a 50d > 200d, >and a rising daily slosto within the last five days. > ...sniped.... >--Db Of Dan's post and Db's technical filters, the following group information may also help in selecting a stock for further study. From Mondays IBD: >ADVP - Medical/Dental/Serv Ranking #89 >ANF - Retail-Apparel/Shoe Ranking # 2 >CRFT - Bldg-Constr Prods/Misc Ranking #96 >DFG - Insurance-Life Ranking #45 >ERICY - Telecommunications Equip Ranking #34 >ESCA - Leisure Products Ranking #37 >ISCG - Computer Software/Enterprise Ranking #18 >MRTN - Transportation-Truck Ranking #113 >OROA - Retail/Wholesale-Jewelry Ranking #55 > >--Db Thanks for the list Dan, (a couple there I didn't have an eye on!) Thanks for the filter Db! Frank Wolynski - ------------------------------------------------------------------------------- From: "Tom Worley" Subject: [CANSLIM] I've had it Date: 02 Jul 1998 08:23:38 -0400 I think Dan's sharp criticism of my treating db just as he and JW have treated me was the final convincing argument. db is crowned king, and JW is his consort. Good luck with what you got. I am assuming full time lurker status. Time for me to take, and not give, since what I have to offer is neither approved by the crown nor desired or appreciated by the people in their great majority. I got the message. On the up side, at least Dan is trying to contribute meaningful lists to this group, more than I can say for db or JW. I don't blame Dan for my reaction, he simply represents the not so silent majority. When I get my home page set up, I will let you know. I'll still be reading the email from this site, but not responding publicly. If you have a particular question you especially want me (vice db or some other group member) to answer, I suggest you send me private email at stkguru@netside.net. Please don't waste this group's time or bandwidth responding to this post, it's done, just wanted to let you know. Thanks for all the help in finding a new site for new highs, I did it on my own instead. Tom W stkguru@netside.net home page: to be announced - ------------------------------------------------------------------------------- From: Jeffry White Subject: [CANSLIM] Infantile Rantings of a Stock Guru Date: 02 Jul 1998 09:18:35 -0400 Ooooo! He does so love the fight: > Now for the automated response from db on how he avoided this one. > > > Tom W > > > I think Dan's sharp criticism of my treating db just as he and JW have > treated me was the final convincing argument. db is crowned king, and > JW is his consort. Good luck with what you got. I am assuming full > time lurker status. Time for me to take, and not give, since what I > have to offer is neither approved by the crown nor desired or > appreciated by the people in their great majority. I got the message. > > On the up side, at least Dan is trying to contribute meaningful lists > to this group, more than I can say for db or JW. I don't blame Dan for > my reaction, he simply represents the not so silent majority. > > When I get my home page set up, I will let you know. I'll still be > reading the email from this site, but not responding publicly. If you > have a particular question you especially want me (vice db or some > other group member) to answer, I suggest you send me private email at > stkguru@netside.net. Please don't waste this group's time or bandwidth > responding to this post, it's done, just wanted to let you know. > > Thanks for all the help in finding a new site for new highs, I did it > on my own instead. > > Tom W > stkguru@netside.net > home page: to be announced > Gee, db, you got an answer for virtually every thing else posted here? > Are you in the dark on this one? > > Tom W > A final foot stomping exit for the self-anointed "Stock Guru"? A personal challenge to one who so loves the fight would be to keep your promises or at least avoid posting personal attacks for a week. Bet you can't do either, Tom. But I hope you prove me wrong. - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] Infantile Rantings of a Stock Guru Date: 02 Jul 1998 06:41:28 -0700 (PDT) Re: Our attempts and our pledge to cut down on junk e-mail and public personal attacks. If we can't stick to our guns for more than a few days, I would not be at all surprised to see a mass exodus from the list. It doesn't matter who cast the first stone or who seems driven to try to instigate a public argument. Let's please try to stop it right here. If one can't ignore these posts, then send a response to the individual privately with copies to as many people as you like. Regardless of how I feel about Tom or Jeffry or whomever, I don't have time for this. I don't know why Tom made his comment about my strategy for AFCI and I don't care. It doesn't bother me. Let's move on. And whether you agree or disagree with this post, contact me privately. Please. --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: Tannis Malone Subject: Re: [CANSLIM] HGS file (07/01/98) Date: 02 Jul 1998 07:18:33 -0700 (PDT) Dan's List, Db filtered: no remaining stocks were listed in my New America archives. The "Groups with the Greatest % of stocks making new highs": from July 2, IBD. Soap and Cleaning preparations 25% Comp Sft Internet 23% Household appliances 23% Soft drinks 20% Hand Tools 20% Retail mail order skipped from 23 to 13 this week, was 41 6 months ago. TM ---"Frank V. Wolynski" wrote: > > >at 22:10 7/1/98 -0700, you wrote: > > > >Of Dan's list, the following have a rising weekly MACD, a 50d > 200d, > >and a rising daily slosto within the last five days. > > > ...sniped.... > > >--Db > > Of Dan's post and Db's technical filters, the following group information > may also help in selecting a stock for further study. > From Mondays IBD: > >ADVP - Medical/Dental/Serv Ranking #89 > >ANF - Retail-Apparel/Shoe Ranking # 2 > >CRFT - Bldg-Constr Prods/Misc Ranking #96 > >DFG - Insurance-Life Ranking #45 > >ERICY - Telecommunications Equip Ranking #34 > >ESCA - Leisure Products Ranking #37 > >ISCG - Computer Software/Enterprise Ranking #18 > >MRTN - Transportation-Truck Ranking #113 > >OROA - Retail/Wholesale-Jewelry Ranking #55 > > > >--Db > > Thanks for the list Dan, (a couple there I didn't have an eye on!) > Thanks for the filter Db! > > Frank Wolynski > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: "Robert Miller" Subject: [CANSLIM] Here's an idea Date: 02 Jul 1998 10:02:57 -0400 Grow Up! I'm sure some doctors would find this group fascinating. We have proof that as you get older, your mind gets younger, since some in this group were more mature at the age of 8. How about this. From now on, when anyone makes a snide comment, let's simply ignore them. Stop reading or responding to their posts. Act as if they didn't exist. As of now, I am using my inbox assistant to delete posts from JW, DB, and TW. I will try again in a couple weeks to see if things have changed. In the meantime, I look forward to reading more civilized posts. Rob - ------------------------------------------------------------------------------- From: "Frank V. Wolynski" Subject: Re: [CANSLIM] HGS file (07/01/98) Date: 02 Jul 1998 10:28:03 -0400 Hi Tannis, thanks for the NewHi and New America check. Have you determined anything meaningful regarding capital appreciation and the stocks listed in the New America section? I usually have an eye already on 90% of what is listed there, and add the other 10% to my charting software, but have never extensively tested for its value as part of my investment process. I would be interested to know if it has been helpful in any way to you. (It is a great read either way!) Thanks, Frank Wolynski At 07:18 AM 7/2/98 -0700, you wrote: >Dan's List, Db filtered: no remaining stocks were listed in my New >America archives. > >The "Groups with the Greatest % of stocks making new highs": from >July 2, IBD. >Soap and Cleaning preparations 25% >Comp Sft Internet 23% >Household appliances 23% >Soft drinks 20% >Hand Tools 20% > >Retail mail order skipped from 23 to 13 this week, was 41 6 months ago. > >TM > - ------------------------------------------------------------------------------- From: "Deral Rackley" Subject: [CANSLIM] Date: Thu, 2 Jul 1998 10:39:26 -0400 Date: 02 Jul 1998 08:46:08 -0600 Thanks to Dan, DP, and Frank this morning. Dan provided the HGS stock screen, DP provided some TA screening, and Frank provided group information. I think that Dan's screening and post could be a focus point with all of us analyzing the stocks in the post and giving input for the benefit of all in uncovering the gems of stocks poised for a favorable move. Thanks again! Deral - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] Date: Thu, 2 Jul 1998 10:39:26 -0400 Date: 02 Jul 1998 07:58:49 -0700 (PDT) <> I agree. Dan's list is going to save a lot of time as long as he feels like doing it. And don't forget Tannis. --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: "Knowles, Richard N." Subject: [CANSLIM] FFTI - any clue why? Date: 02 Jul 1998 11:31:50 -0400 Anyone know why a company whose stock is trading at 12.5 would offer another 3.5 million shares at 11? Seems like a sure way to aggravate shareholders. Since I'm relatively new to this I need someone smarter to explain what the goal of such a move would be. Rich Knowles - ------------------------------------------------------------------------------- From: Tannis Malone Subject: Re: [CANSLIM] HGS file (07/01/98) Date: 02 Jul 1998 09:09:30 -0700 (PDT) "Have you determined anything meaningful regarding capital appreciation and > the stocks listed in the New America section?" This is anecdotal, just what I do and why. May not be for anyone else. At the seminar, WON said that 99% of the best of the best were listed in New America before they were hot. He said Intel was mentioned 11 times before WSJ mentioned it once. Since then, I have been tracking. I know the yield (how many best of the bests are there?), but it is easy to track and has paid of big historically in the one that makes it to the top. I watch for volume; when I know more about OBV/MF (which I think might track hidden money going in, but I could be totally off), I will track that. As far as the groups with new highs, IMO it shows up here before it is in the Companies in the News pages but later than the information on what the funds are buying in the mutual fund section. From what I've randomly checked, I believe the RS is building in some of these groups companies; too early to be picked by CANSLIM yet. It gives me time to learn about them. I'm not going to pull the trigger on momentum alone, yet. TM ---"Frank V. Wolynski" wrote: > > Hi Tannis, thanks for the NewHi and New America check. > > Have you determined anything meaningful regarding capital appreciation and > the stocks listed in the New America section? > > I usually have an eye already on 90% of what is listed there, and add the > other 10% to my charting software, but have never extensively tested for > its value as part of my investment process. > > I would be interested to know if it has been helpful in any way to you. > (It is a great read either way!) > > Thanks, > Frank Wolynski > > At 07:18 AM 7/2/98 -0700, you wrote: > >Dan's List, Db filtered: no remaining stocks were listed in my New > >America archives. > > > >The "Groups with the Greatest % of stocks making new highs": from > >July 2, IBD. > >Soap and Cleaning preparations 25% > >Comp Sft Internet 23% > >Household appliances 23% > >Soft drinks 20% > >Hand Tools 20% > > > >Retail mail order skipped from 23 to 13 this week, was 41 6 months ago. > > > >TM > > > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - ------------------------------------------------------------------------------- From: Ray Mathews Subject: [CANSLIM] Comparison of Trend Line with dec.RS for SELL Date: 02 Jul 1998 12:19:29 -0400 I have been comparing a simple trend line break (on an uptrend) against the decrease of RS as suggested by WON. I believe the trend line break works more consistently and gives me a slight edge. I'd sure like to hear some comments on this. Thanks. - ------------------------------------------------------------------------------- From: "Frank V. Wolynski" Subject: Re: [CANSLIM] CANSLIM methodology question Date: 02 Jul 1998 12:13:21 -0400 Good questions Richard. I have been pondering them and can only echo what others have already posted. You may also want to keep in mind that "Losers or failures" is relative. Just because they didn't make the final cut of 500 performing companies wouldn't necessarily cause you to judge them failures. In a foot race there are 10 racers. There is only 1 1st place. There is also a 10th place. O'Neals CANSLIM looked at the racers and asked some of the following questions: * What did all the winners have in common? Price performance? Earnings? New information? (Hi's, products, etc...) * What conditions existed just prior to the largest increases in price movements? * How much is affected by institutional buying/selling? * What about size of the company? He applied other variables such as Market conditions, Industry Group performance, news events, economic conditions, and found how they also influence stocks and the ability of a stock to perform. All these factors, and more, are part and parcel to CANSLIM. The system, if followed, forces an investor to do 'due diligence' and places the factors that have meant the most in a stocks performance in your consciousness. I'll ask a question in return to finish this up. How confident are you in applying the principles without bias, opinion, fear, greed or gut feelings being the cause rather than the result of your decision? Odds? I'd say an even match with your odds of successful application of the principles. Frank Wolynski At 21:37 7/1/98 -0500, you wrote: >After joining this group Friday, I can't keep quiet! > >Here's a deeper question. As I understand, WON developed CANSLIM after >identifying characteristics common to the best performing 500 or so stocks >of the last 40+ years, right before their greatest price advances. Here's >my question: how many OTHER stocks, with similar characteristics, failed to >perform? If 500 took off, did perhaps 100 others fail? Did 1000 fail? Did >10000 fail?!? In other words, how good are our odds with CANSLIM? > >I pondered this after reading James O'Shaughnessy's "What Works on Wall >Street, Revised Edition." Skipping all the 50 best/50 worst analysis, I >concentrated on his decile results. His approach to discovering the best >stock strategy was to formulate many selection styles (like highest RS, PSR ><1) and apply them to 40+ years of data. Some performed much better than >others, like CANSLIM proposes to do. > >Do you see the difference between JOS and WON? (And what's with >O'Whatever??) Are both approaches valid? > >I have not lost much sleep over this question but I'm curious as to your >opinions. > >Richard Bejtlich - ------------------------------------------------------------------------------- From: "Frank V. Wolynski" Subject: Re: [CANSLIM] HGS file (07/01/98) Date: 02 Jul 1998 12:27:17 -0400 He certainly says to catch them young. But I'd be guessing to say that he is speaking figuratively rather than having run actual back tests on stocks appearing in New America. I follow new issues for the same reasons. Since my specialty is technology and that happens to be the industry in relative vogue (taking a pounding of late, but think long term), it is a focus I am comfortable with, but not wedded to. I rarely find a new issue I'm interested in. I've intended to follow New America companies of just the performing groups, but among my other committments rarely have the time. Occassionally I scan the fund buying area, but I like to get them under scrutiny far before that. Good luck and best regards, Frank Wolynski At 09:09 AM 7/2/98 -0700, you wrote: >"Have you determined anything meaningful regarding capital >appreciation and >> the stocks listed in the New America section?" > >This is anecdotal, just what I do and why. May not be for anyone >else. > > At the seminar, WON said that 99% of the best of the best were listed >in New America before they were hot. He said Intel was mentioned 11 >times before WSJ mentioned it once. Since then, I have been tracking. >I know the yield (how many best of the bests are there?), but it is >easy to track and has paid of big historically in the one that makes >it to the top. I watch for volume; when I know more about OBV/MF >(which I think might track hidden money going in, but I could be >totally off), I will track that. > >As far as the groups with new highs, IMO it shows up here before it is >in the Companies in the News pages but later than the information on >what the funds are buying in the mutual fund section. From what I've >randomly checked, I believe the RS is building in some of these groups >companies; too early to be picked by CANSLIM yet. It gives me time to >learn about them. I'm not going to pull the trigger on momentum >alone, yet. > >TM > > > > >---"Frank V. Wolynski" wrote: >> >> Hi Tannis, thanks for the NewHi and New America check. >> >> Have you determined anything meaningful regarding capital >appreciation and >> the stocks listed in the New America section? >> >> I usually have an eye already on 90% of what is listed there, and >add the >> other 10% to my charting software, but have never extensively tested >for >> its value as part of my investment process. >> >> I would be interested to know if it has been helpful in any way to >you. >> (It is a great read either way!) >> >> Thanks, >> Frank Wolynski >> >> At 07:18 AM 7/2/98 -0700, you wrote: >> >Dan's List, Db filtered: no remaining stocks were listed in my New >> >America archives. >> > >> >The "Groups with the Greatest % of stocks making new highs": from >> >July 2, IBD. >> >Soap and Cleaning preparations 25% >> >Comp Sft Internet 23% >> >Household appliances 23% >> >Soft drinks 20% >> >Hand Tools 20% >> > >> >Retail mail order skipped from 23 to 13 this week, was 41 6 months >ago. >> > >> >TM >> > >> >> >> - >> >> > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > > - ------------------------------------------------------------------------------- From: dbphoenix Subject: Re: [CANSLIM] AD Indicators Date: 02 Jul 1998 09:51:52 -0700 (PDT) <