From: canslim-owner@xmission.com (canslim Digest) To: canslim-digest@xmission.com Subject: canslim Digest V1 #126 Reply-To: canslim@xmission.com Sender: canslim-owner@xmission.com Errors-To: canslim-owner@xmission.com Precedence: canslim Digest Saturday, April 5 1997 Volume 01 : Number 126 In this issue: [CANSLIM] Possible CANSLIM candidates RE: [CANSLIM] company names? [CANSLIM] Base 64 Re: [CANSLIM] Will the market hold? (SRR) Re: [CANSLIM] company names? Re: [CANSLIM] Base 64 Re: [CANSLIM] company names? Re: [CANSLIM] Ticker Symbols [CANSLIM] Hurrah - A "small" breather Re: [CANSLIM] company names? Re: [CANSLIM] Hurrah - A "small" breather Re: [CANSLIM] Hurrah - A "small" breather [CANSLIM] Rick-Canslim no workee? Re: [CANSLIM] Rick-Canslim no workee? Re: [CANSLIM] Rick-Canslim no workee? Re: [CANSLIM] Rick-Canslim no workee? Re: [CANSLIM] company names? Re: [CANSLIM] Rick-Canslim no workee? [CANSLIM] P/E ratio, debate Re: [CANSLIM] Rick-Canslim no workee? Re: [CANSLIM] Rick-Canslim no workee? See the end of the digest for information on subscribing to the canslim or canslim-digest mailing lists and on how to retrieve back issues. ---------------------------------------------------------------------- Date: Fri, 4 Apr 1997 08:40:38 -0600 From: jeff@scrooge.idec.sdl.usu.edu (Jeff Salisbury) Subject: [CANSLIM] Possible CANSLIM candidates - --- Forwarded mail from owner-canslim@xmission.com Date: Fri, 04 Apr 1997 06:24:00 -0800 From: Dan Sutton X-Mailer: Mozilla 3.0C-GZone (Win95; I) MIME-Version: 1.0 To: canslim@mail.xmission.com Subject: Possible CANSLIM candidates References: <01BC3FFD.11F64800@DIGITALIS> Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit I Subscribe to the TELESCAN service and as of yet have not been able to locate the Holy Grail with it (and probably never will). Unfortunately it has a few limitations, one of which is the inability to automatically scan for chart patterns. I have found an approximate correlation between certain Stochastics ratios and positive chart patterns. I also have it scan for stocks with the various CANSLIM criteria. I ran the search last night and the following stocks APPEAR to have pretty good charts. I have not yet ran the full analysis, but maybe someone else would like to provide us with more detailed info or opinions. GLBL,HB,FISV,RHCI,BKS,KAB,WAC,MAS,AAON,AVN,AMN,OS,CNS,FINL,BERT - ---End of forwarded mail from owner-canslim@xmission.com ------------------------------ Date: Fri, 4 Apr 1997 09:24:20 -0800 From: Joseph Vaughn-Perling Subject: RE: [CANSLIM] company names? - ------ =_NextPart_000_01BC40D9.FA9F5C40 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit What Judy et.al. would really benefit from is a FAQ + glossary. Anyone with time to kill to compile one? - -----Original Message----- From: Michael A Langston [SMTP:langston@cs.utk.edu] Sent: Thursday, April 03, 1997 10:29 PM To: canslim@mail.xmission.com Subject: re: [CANSLIM] company names? judy north writes: > I am having some difficulty as when stocks are mentioned > only the symbol...would like to ask if the full company > names could be given? x---snip---x FWIW, here's my preference for stock references (when canslim is working that is): SYMBOL E R G acc-dist -- for example, since i keep an eye on monsanto, i'd say MTC 80 60 37 C (crappy huh) so, in a good market, one might hope to see an alert from another group member of a form such as: XYZ 95 97 93 A, b/o of [30,34] box on 3 x normal translation: stock XYZ, w/ an eps rank of 95, a relative strength of 97 and a group strength of 93 is breaking to the upside out of a darvis box (price has been bouncing between 30 and 34 for weeks or longer) on 3 times its normal daily volume strictly my two cents mike - 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------ =_NextPart_000_01BC40D9.FA9F5C40-- ------------------------------ Date: Fri, 04 Apr 1997 15:38:23 +0800 From: Bob Acker Subject: [CANSLIM] Base 64 I'm receiving E-mail messages from this canslim group that are encoded in Base 64.I have Netscape Windows 95 3.01 browser.I use the E-mail from the Netscape brower.Can anyone tell me how to uncode these Base 64 messages? Thanks ------------------------------ Date: Fri, 4 Apr 1997 19:33:02 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Will the market hold? (SRR) Correction: bonds were down throughout the day, closing down 23 ticks (32's), which in the good ole days of predictable mkts would have meant the stock mkt would also be down (and it was for a few minutes, actually couple of hours). In fact, the Dow 30 broke the first circuit breaker 10 minutes into the open down over 50 pts. But by late afternoon, it was threatening to break it again, this time up 50. And this despite IBM continuing to lose ground amidst more analyst's cuts on earnings forecasts. Pretty impressive show by the techs today, driving NASDAQ up nearly 2% (up 23 pts). Hadn't heard that Ryan thought that way, maybe that's why he was too much in cash at critical points, and overall New USA Fund didn't perform like many expected. tom w - ---------- > From: pwahl@postoffice.worldnet.att.net > To: canslim@mail.xmission.com > Subject: Re: [CANSLIM] Will the market hold? (SRR) > Date: Friday, April 04, 1997 9:27 AM > > > From: "Brenda" > > > sources. Thanks for the time you took. Still interested about at what level > > "in your mind" does a PE matter or not matter. > > I think it does, and I think that the high PE of practicallly every > high tech stock I know of is why the NASDAQ is down 12% while the Dow > is down 8%. OF course, the tech stuff is down even more than 12% on > average. A PE should have some relationship to growth. Always seems > high PE stocks. David Ryan mentions in an interview in "Market > Wizards" that he thought that high PE stocks do not perform as well > as those with lower PE's. > > ------------------------------------------------------------ > > Bonds up again today on an ok unemployment number, so expect market > to continue down. > Patrick Wahl ------------------------------ Date: Fri, 4 Apr 1997 19:52:45 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] company names? Would think there would be a way of periodically downloading a list of all companies cross indexed by both symbol and name (and industry as well would be nice) and storing it either in the archives somewhere where it would be easily accessible or making it available for download and storing locally for those who want/need it? tom w - ---------- > From: Joseph Vaughn-Perling > To: 'canslim@mail.xmission.com' > Subject: RE: [CANSLIM] company names? > Date: Friday, April 04, 1997 12:24 PM > > What Judy et.al. would really benefit from is a FAQ + glossary. Anyone with time to kill to compile one? > ------------------------------ Date: Fri, 4 Apr 1997 20:05:50 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Base 64 Hi Bob, Not sure why you are getting encoded msgs, I don't even think I have a Base64 decoder installed, and have never received a coded msg from this group. Are you sure the problem isn't at your end? BTW, by any chance did you go to CGA graduating 1969? Hope someone has a solution for you, I know it would drive me crazy not knowing what I might be missing. I have been using Netscape 2.0, 3.0, and 3.01 plus now use InternetExplorer (3.01 I think, whatever is latest, which I far prefer to Netscape) since joining this group, if that helps any. tom w - ---------- > From: Bob Acker > To: canslim@xmission.com > Subject: [CANSLIM] Base 64 > Date: Friday, April 04, 1997 2:38 AM > > I'm receiving E-mail messages from this canslim group that are > encoded in Base 64.I have Netscape Windows 95 3.01 browser.I use ------------------------------ Date: Sat, 05 Apr 1997 03:47:10 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] company names? On Fri, 4 Apr 1997 19:52:45 -0500, you wrote: :Would think there would be a way of periodically downloading a list of :all companies cross indexed by both symbol and name (and industry as :well would be nice) and storing it either in the archives somewhere :where it would be easily accessible or making it available for download :and storing locally for those who want/need it? : :tom w Yes, it would be called a "database." What you describe would be a not too big file and is undoubtedly available. If I find one I'll either post about it or attach it to a post. Dan ------------------------------ Date: Sat, 05 Apr 1997 04:00:06 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Ticker Symbols On Thu, 3 Apr 1997 07:10:31 -0500 (EST), you wrote: :For the benefit of people like me who are unable to identify each = company by :it's ticker symbol, it would be nice if companies could be identified by= name :rather than just a ticker symbol.=20 : :I can't look up a stock in Investors' Business Daily or The Wall Street :Journal or even in Daily Graphs using a ticker symbol; the listings are :arranged alphabetically by name. : :For example: "Filene's Basement (BSMT) has opened a lot of stores = lately. :BSMT is a stock to watch carefully." : :In this way we won't be looking for BSMT in the listings under "B" = rather :than "F." : :Douglas Herman I have not found this a major inconvenience. You obviously have access to a computer. There are many websites where you can enter the symbol and you will get information. If you are interested in a stock you will want to do on-line research about it anyway. I have accumulated about 30 stock related bookmarks in my browser in just four months or so, and a great many of these are capable of yielding this sort of information quickly.=20 Here's one touted research site: Wall St. Research http://www.wsrn.com/home/companyResearch.html Go there is a split second and you have an option to search on symbol or company name. Bookmark it, open a 2nd browser and keep it handy. Regards, Dan ------------------------------ Date: Sat, 5 Apr 1997 01:30:04 -0600 From: "Brenda" Subject: [CANSLIM] Hurrah - A "small" breather Tonight I have just finished grading ALL stocks on ALL markets. We have come up with six stocks that graded out 95 or better. SIX out of........ ( a bunch!). Well, would be most interested in you CANSLIM'rs opinion on them. See if you think any are worthy. Here goes: MLHR, GDYS, PSUN, ASTSF, TUES & SRR. I realize we have discussed some of these but today is a new day. I mean the markets actually performed like they would "like to" stop the decline. Only time will tell. I am not "excited" about what my crystal ball tells me, but at least it is not totally BLACK right now. There is a "glimmer" of hope. Well, let me know if you like any of these. Thanks! James ------------------------------ Date: Sat, 5 Apr 1997 09:16:49 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] company names? Thanks Dan, could be a help to those who haven't lived and breathed this business for so many years to the point that we think in symbols instead of names. tom w - ---------- From: Dan Musicant To: canslim@mail.xmission.com Subject: Re: [CANSLIM] company names? Date: Friday, April 04, 1997 10:47 PM too big file and is undoubtedly available. If I find one I'll either post about it or attach it to a post. Dan - ---------- ------------------------------ Date: Sat, 5 Apr 1997 08:50:10 -0600 From: "Rick Miller" Subject: Re: [CANSLIM] Hurrah - A "small" breather I don't know how you selected them, but let me suggest that you keep track of them and give a performance report monthly over the next 12 months and compare their performance to the S&P 500's performance, or any other so called expert's method of stock picking. This is the only way that you can find a reliable method of stock picking- that is to test and test and test until you find a method that works consistently(7-8 times out of ten). Maybe you can post the results over this site or at least let me know what you find. I have tested the canslim method and have not found it to be very reliable. I am constantly testing. Testing becomes easier when you can find a site that does "portfolios" , such as dbc, which keeps track of your stocks daily and shows the percent increases or decreases over time, and it's free. There are other sites out there that do the same thing and can be used when you run out of space on dbc. Good Luck and test, test, test to keep from guess, guess, guess. Rick Miller - ---------- > From: Brenda > To: canslim > Subject: [CANSLIM] Hurrah - A "small" breather > Date: Saturday, April 05, 1997 1:30 AM > > Tonight I have just finished grading ALL stocks on ALL markets. We have > come up with six stocks that graded out 95 or better. SIX out of........ ( > a bunch!). Well, would be most interested in you CANSLIM'rs opinion on > them. See if you think any are worthy. Here goes: MLHR, GDYS, PSUN, ASTSF, > TUES & SRR. I realize we have discussed some of these but today is a new > day. I mean the markets actually performed like they would "like to" stop > the decline. Only time will tell. I am not "excited" about what my crystal > ball tells me, but at least it is not totally BLACK right now. There is a > "glimmer" of hope. Well, let me know if you like any of these. Thanks! > James ------------------------------ Date: Sat, 5 Apr 1997 09:58:05 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Hurrah - A "small" breather Rick, Not sure why you have found CANSLIM to be unreliable, but I have been using it for over five years, and found it to be far and away the best "philosophy" there is so long as I follow the rules. When I don't, I usually find I made a bad decision. If you don't like O'Neill's CANSLIM approach, keep in mind that this is a CANSLIM group, therefore the vast majority of stocks that will be suggested are likely to be CANSLIM based. good luck tom w - ---------- > From: Rick Miller > To: canslim@mail.xmission.com > Subject: Re: [CANSLIM] Hurrah - A "small" breather > Date: Saturday, April 05, 1997 9:50 AM > > I don't know how you selected them, but let me suggest that you keep track > of them and give a performance report monthly over the next 12 months and > you find. I have tested the canslim method and have not found it to be > very reliable. I am constantly testing. Testing becomes easier when you ------------------------------ Date: Sat, 5 Apr 1997 11:03:16 -0600 From: "Brenda" Subject: [CANSLIM] Rick-Canslim no workee? Rick, I read your post and it sounds like you either do not know, understand or fully understand how to use CANSLIM. Have you read Mr. O'Neil's book How To Make Money In Stocks? How many times? Twice? Not near enough. I am constantly reading and studying and almost invariably pick up a different investment book each time I am in the library. I have found his system to be the best single system in print by far over anything I have ever found. Have you tried the Dow Dogs, the Motely Fools four or five different methods. I think after you have tried several other system, AFTER FIRST knowing and understanding them you will find yourself coming back to CANSLIM. I find Mr. O'Neil to be in the very, very small minority with many of his practices and philosophies. One easy one is buying stocks breaking into new high ground and not ones that "just can't" go down any more. Once, you understand his system, FULLY and completely and have tracked it "on paper" for a YEAR and think you probably know it just about as well as Mr. O'Neil itself (although most likely incorrect), then and only then can you make assessments about how it works. Yes, I do add a twist or two of my personal own BUT if could only use ONE recognized and known system the CANSLIM method would win by so far that number two would be so distant who cares what it is. I do and have tracked meticuosly since 1990 keeping ridiculously detailed records. Thank heavens I no longer have to do much of that. It does still work but never forget one of his words of wisdom contianed in the book. When the direction of the market is down, 3 out of 4 of your stocks will slump with the market, AND YOU WILL LOSE MONEY. I find those on this network do a LOT of research and work. I call it homework. Without an investor doing a GREAT DEAL of homework I do not think he needs to be in the market. Not that you don't but I find most that I talk to ONLY THINK they do a lot of homework. I spend 15-18 hours a day working in the market and definetley do not think I am the only one in this group that does that. Lots of luck! Luck has never been part of the formula for me but many use just that. James ------------------------------ Date: Sat, 5 Apr 1997 12:05:24 -0600 From: "Rick Miller" Subject: Re: [CANSLIM] Rick-Canslim no workee? Dear James: It sounds like you believe (worship) strongly in canslim and have had remarkable results. What are your results? You don't have to tell me how much you have made in dollars, but what has been your annual return on all stocks purchased using canslim? James, I challenge you to select 10 stocks over the weekend using canslim and let's compare the performance of those ten stocks to the S&P 500's performance and see if you can beat the S&P 500. We will select the closing prices (as of Friday, April 4) of the ten stocks you pick and compare the performance (in percentage increase or decrease) on a weekly (or other if you prefer) basis. The S&P 500 closed Friday at 757.90. In fact, I challenge any canslimer to pick ten stocks and prove to me it can beat the S&P 500 over the period of your choice. You must also show me how each stock selected meets the canslim requirement. Let's have some fun! Rick Miller - ---------- > From: Brenda > To: canslim > Subject: [CANSLIM] Rick-Canslim no workee? > Date: Saturday, April 05, 1997 11:03 AM > > Rick, > I read your post and it sounds like you either do not know, understand > or fully understand how to use CANSLIM. Have you read Mr. O'Neil's book How > To Make Money In Stocks? How many times? Twice? Not near enough. I am > constantly reading and studying and almost invariably pick up a different > investment book each time I am in the library. I have found his system to > be the best single system in print by far over anything I have ever found. > Have you tried the Dow Dogs, the Motely Fools four or five different > methods. I think after you have tried several other system, AFTER FIRST > knowing and understanding them you will find yourself coming back to > CANSLIM. I find Mr. O'Neil to be in the very, very small minority with many > of his practices and philosophies. One easy one is buying stocks breaking > into new high ground and not ones that "just can't" go down any more. Once, > you understand his system, FULLY and completely and have tracked it "on > paper" for a YEAR and think you probably know it just about as well as Mr. > O'Neil itself (although most likely incorrect), then and only then can you > make assessments about how it works. > Yes, I do add a twist or two of my personal own BUT if could only use > ONE recognized and known system the CANSLIM method would win by so far that > number two would be so distant who cares what it is. I do and have tracked > meticuosly since 1990 keeping ridiculously detailed records. Thank heavens > I no longer have to do much of that. It does still work but never forget > one of his words of wisdom contianed in the book. When the direction of the > market is down, 3 out of 4 of your stocks will slump with the market, AND > YOU WILL LOSE MONEY. I find those on this network do a LOT of research and > work. I call it homework. Without an investor doing a GREAT DEAL of > homework I do not think he needs to be in the market. Not that you don't > but I find most that I talk to ONLY THINK they do a lot of homework. I > spend 15-18 hours a day working in the market and definetley do not think I > am the only one in this group that does that. > Lots of luck! Luck has never been part of the formula for me but many > use just that. > James > > > > > > > > ------------------------------ Date: Sat, 5 Apr 1997 12:30:48 -0600 From: "Rick Miller" Subject: Re: [CANSLIM] Rick-Canslim no workee? James: If ten stocks are too many, just pick 5. I'll bet that I can beat those 5 stocks using two methods I have found successful: 1. Gut Feeling 2. Volume study Just for fun, I can select three groups: 1.5 stocks based on my gut feeling 2.5 more stocks based on my gut feeling 3.5 more stocks based on a volume study I've been doing You select any 5 stocks that meet your revered canslim and we'll watch them over the next few months and I'll bet my stocks do better than yours. Rick Miller - ---------- > From: Brenda > To: canslim > Subject: [CANSLIM] Rick-Canslim no workee? > Date: Saturday, April 05, 1997 11:03 AM > > Rick, > I read your post and it sounds like you either do not know, understand > or fully understand how to use CANSLIM. Have you read Mr. O'Neil's book How > To Make Money In Stocks? How many times? Twice? Not near enough. I am > constantly reading and studying and almost invariably pick up a different > investment book each time I am in the library. I have found his system to > be the best single system in print by far over anything I have ever found. > Have you tried the Dow Dogs, the Motely Fools four or five different > methods. I think after you have tried several other system, AFTER FIRST > knowing and understanding them you will find yourself coming back to > CANSLIM. I find Mr. O'Neil to be in the very, very small minority with many > of his practices and philosophies. One easy one is buying stocks breaking > into new high ground and not ones that "just can't" go down any more. Once, > you understand his system, FULLY and completely and have tracked it "on > paper" for a YEAR and think you probably know it just about as well as Mr. > O'Neil itself (although most likely incorrect), then and only then can you > make assessments about how it works. > Yes, I do add a twist or two of my personal own BUT if could only use > ONE recognized and known system the CANSLIM method would win by so far that > number two would be so distant who cares what it is. I do and have tracked > meticuosly since 1990 keeping ridiculously detailed records. Thank heavens > I no longer have to do much of that. It does still work but never forget > one of his words of wisdom contianed in the book. When the direction of the > market is down, 3 out of 4 of your stocks will slump with the market, AND > YOU WILL LOSE MONEY. I find those on this network do a LOT of research and > work. I call it homework. Without an investor doing a GREAT DEAL of > homework I do not think he needs to be in the market. Not that you don't > but I find most that I talk to ONLY THINK they do a lot of homework. I > spend 15-18 hours a day working in the market and definetley do not think I > am the only one in this group that does that. > Lots of luck! Luck has never been part of the formula for me but many > use just that. > James > > > > > > > > ------------------------------ Date: Sat, 05 Apr 1997 19:02:40 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Rick-Canslim no workee? CANSLIM is a method of stock investment. It does not lend itself to contests such a Rick suggests. I am far from an expert, but from what I have read it seems to me that this contest (such as it is proposed) violates the spirit and substance of O'Neil's methods. One does not use CANSLIM to select 10 stocks and see how they compare to an index over a given period. Rick is showing a lack of understanding of what CANSLIM is by virtue of his proposal.=20 =46irstly, CANSLIM specifies the utmost care in determining the entry point for a position. Timing is negated in the proposal. Secondly, CANSLIM is also at least equally predicated on proper timing for selling a stock. Back to square one. Dan ------------------------------ Date: Sat, 05 Apr 1997 19:15:29 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] company names? I haven't (yet) found a downloadable .dbf file of Symbols/Company Names/Group/etc., but I found a site with hypertext links the a large swarm of websites for investment research: http://pw1.netcom.com/~regnery/uscorp.html Dan On Sat, 5 Apr 1997 09:16:49 -0500, you wrote: :Thanks Dan, could be a help to those who haven't lived and breathed :this business for so many years to the point that we think in symbols :instead of names. : :tom w :---------- :From: Dan Musicant :To: canslim@mail.xmission.com :Subject: Re: [CANSLIM] company names?=20 :Date: Friday, April 04, 1997 10:47 PM : :too big file and is undoubtedly available. If I find one I'll either :post about it or attach it to a post. : :Dan :---------- ------------------------------ Date: Sat, 5 Apr 1997 14:09:18 -0600 From: "Rick Miller" Subject: Re: [CANSLIM] Rick-Canslim no workee? No, canslim does not lend itself to contests, I agree. But you invest to make money, don't you? All I am saying is that there might be, just might be other methods that work better than canslim. (Sorry for the blasphemy canslimmers) What other way than to test one method against another to find out which one works best time after time? If you have a problem with timing, you tell me when you want to pick your 5 stocks and I'll be ready on the same day to select ones using my methods. Since O'Neil recommends holding on to a stock for at least 8 weeks unless the stop-loss is reached, we can at least compare the performance for that period of time without too many hassles I presume. If you need to sell, OK, I'll sell one of mine too and when you buy, I'll buy another one. I'll even keep track of the stocks and report on them weekly so you won't have to do any work. Dan, all I'm trying to do is find what is true and what is hype. I have not come down one way or the other as far as canslim is concerned. In fact, I'm open to adhering to it faithfully forever if it indeed works. Now, either it works (pure canslim) most of the time and works better than any other method most of the time or it doesn't! Finding this out does not take a rocket scientist. One can and should test and compare any method that presumably works to ensure maximum profits. To be so inflexible as to not even consider that one's method may be flawed is simply, well, stupid. Dan, if I told you that I have been doing a study on volume using IBD and told you that I had a contest with myself using this method of selecting against the canslim method and for a few years now canslim was getting beat, wouldn't you be interested in knowing how I performed the test? Or would you simply ignore the "contest"? Respectfully, Rick - ---------- > From: Dan Musicant > To: canslim@mail.xmission.com > Subject: Re: [CANSLIM] Rick-Canslim no workee? > Date: Saturday, April 05, 1997 1:02 PM > > CANSLIM is a method of stock investment. It does not lend itself to > contests such a Rick suggests. I am far from an expert, but from what > I have read it seems to me that this contest (such as it is proposed) > violates the spirit and substance of O'Neil's methods. One does not > use CANSLIM to select 10 stocks and see how they compare to an index > over a given period. Rick is showing a lack of understanding of what > CANSLIM is by virtue of his proposal. > > Firstly, CANSLIM specifies the utmost care in determining the entry > point for a position. Timing is negated in the proposal. > > Secondly, CANSLIM is also at least equally predicated on proper timing > for selling a stock. > > Back to square one. > > Dan ------------------------------ Date: Fri, 04 Apr 1997 18:18:54 -0800 From: GoldFish Subject: [CANSLIM] P/E ratio, debate On page 18~21, first edition of Mr. O'Neil' book, How to make money in stocks, he said: 1)P/E ratio have a very little to do with whether a stock should be bought or not. Yet he pointed out during the 33 years (from 1953~1985), the best performing stocks at their early emerging stage has P/E=20. 2)P/E ratio was misused 3)a stock with high P/E (on average 20~30) isn't necessary expensive. I think the reason is an accelerating earning can justify the "high" P/E. 4)Don't sell a stock because of its high P/E and Don't buy a stock because it has low P/E. (an extension of 3rd point) Overall, I was not able to discover that he said PE numbers are worthless. Further, on page 135~136, he listed 11 parameters of David Ryan's winning stocks. And one of them is PE. Sincerely, Haw-Jye Shyu - ------------------------------------------------------------------ Brenda wrote: > > I notice that you still include PE in your analysis. As a CANSLIM follower > how do you justify Mr. O'Neil's statements in his book about how WORTHLESS > PE numbers are. He seems to me to be very, very plain about it. I > appreciate your information and I use information from lots of different > sources. Thanks for the time you took. Still interested about at what level > "in your mind" does a PE matter or not matter. > Tom? How about you? Does the PE matter? If so, what is acceptable? > James > ------------------------------ Date: Sat, 05 Apr 1997 13:41:37 -0800 From: GoldFish Subject: Re: [CANSLIM] Rick-Canslim no workee? Jame: What Rick said is that he prefer you to set up a portfoilio traking system such that you can trak the performance of your picks and be able to compare with the S&P500. And you can report to this group. I think this will be a great contribution to the practice of CANSLIM, don't you think so? If he is an expert on CANSLIM, I doubt he will joint this group, will he? He will be very busy in making money with CANSLIM, right? Nonthless, I appreciate your post of the stocks you pick if you can show your rational of picking it (of course based on CANSLIM). Sincerely, Haw-Jye Shyu ==================================================================== Brenda wrote: > > Rick, > I read your post and it sounds like you either do not know, understand > or fully understand how to use CANSLIM. Have you read Mr. O'Neil's book How > To Make Money In Stocks? How many times? Twice? Not near enough. I am > constantly reading and studying and almost invariably pick up a different > investment book each time I am in the library. I have found his system to > be the best single system in print by far over anything I have ever found. > Have you tried the Dow Dogs, the Motely Fools four or five different > methods. I think after you have tried several other system, AFTER FIRST > knowing and understanding them you will find yourself coming back to > CANSLIM. I find Mr. O'Neil to be in the very, very small minority with many > of his practices and philosophies. One easy one is buying stocks breaking > into new high ground and not ones that "just can't" go down any more. Once, > you understand his system, FULLY and completely and have tracked it "on > paper" for a YEAR and think you probably know it just about as well as Mr. > O'Neil itself (although most likely incorrect), then and only then can you > make assessments about how it works. > James ------------------------------ Date: Sat, 05 Apr 1997 14:01:48 -0800 From: GoldFish Subject: Re: [CANSLIM] Rick-Canslim no workee? Boy, I see the white glove is off! James, would you do it? How about let's setup a group which favored CANSLIM, let's call it C-group. People in this C-group will select 10 stocks, and provide rational based on CANSLIM why they select the stock. And we can benchmark it against S&P500. Of course, Jame can do it by himself and Rick can do his own stock pick and benchmark anagist S&p 500 too. By doing this, we will be able to achieve 3 things: 1)a group of amature CANSLIMers can learn and share experience (without lossing real money!). 2)the expert of CANSLIM, Jame (of course), can really show off his power and establish his status as the genuine CANSLIM guru. His business will surely thrive afther this big success. (If he can not handle the booming, may be we all can be hired by him as moonlighting for a small fee.) 3)Rick can totally destroy the CANSLIM or be converted into a true CANSLIM believer. How about that, guys and gals it is a win-win situation! Sincerely, Haw-Jye Shyu ================================================================================ Rick Miller wrote: > > James: > > If ten stocks are too many, just pick 5. I'll bet that I can beat those 5 > stocks using two methods I have found successful: > > 1. Gut Feeling > 2. Volume study > > Just for fun, I can select three groups: > 1.5 stocks based on my gut feeling > 2.5 more stocks based on my gut feeling > 3.5 more stocks based on a volume study I've been doing > > You select any 5 stocks that meet your revered canslim and we'll watch them > over the next few months and I'll bet my stocks do better than yours. > > Rick Miller > > ---------- > > From: Brenda > > To: canslim > > Subject: [CANSLIM] Rick-Canslim no workee? > > Date: Saturday, April 05, 1997 11:03 AM > > > > Rick, > > I read your post and it sounds like you either do not know, > understand > > or fully understand how to use CANSLIM. Have you read Mr. O'Neil's book > How > > To Make Money In Stocks? How many times? Twice? Not near enough. I am > > constantly reading and studying and almost invariably pick up a different > > investment book each time I am in the library. I have found his system to > > be the best single system in print by far over anything I have ever > found. > > Have you tried the Dow Dogs, the Motely Fools four or five different > > methods. I think after you have tried several other system, AFTER FIRST > > knowing and understanding them you will find yourself coming back to > > CANSLIM. I find Mr. O'Neil to be in the very, very small minority with > many > > of his practices and philosophies. One easy one is buying stocks breaking > > into new high ground and not ones that "just can't" go down any more. > Once, > > you understand his system, FULLY and completely and have tracked it "on > > paper" for a YEAR and think you probably know it just about as well as > Mr. > > O'Neil itself (although most likely incorrect), then and only then can > you > > make assessments about how it works. > > Yes, I do add a twist or two of my personal own BUT if could only > use > > ONE recognized and known system the CANSLIM method would win by so far > that > > number two would be so distant who cares what it is. I do and have > tracked > > meticuosly since 1990 keeping ridiculously detailed records. Thank > heavens > > I no longer have to do much of that. It does still work but never forget > > one of his words of wisdom contianed in the book. When the direction of > the > > market is down, 3 out of 4 of your stocks will slump with the market, AND > > YOU WILL LOSE MONEY. I find those on this network do a LOT of research > and > > work. I call it homework. Without an investor doing a GREAT DEAL of > > homework I do not think he needs to be in the market. Not that you don't > > but I find most that I talk to ONLY THINK they do a lot of homework. I > > spend 15-18 hours a day working in the market and definetley do not think > I > > am the only one in this group that does that. > > Lots of luck! Luck has never been part of the formula for me but > many > > use just that. > > James > > > > > > > > > > > > > > > > ------------------------------ End of canslim Digest V1 #126 ***************************** To subscribe to canslim Digest, send the command: subscribe canslim-digest in the body of a message to "majordomo@xmission.com". 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