From: canslim-owner@xmission.com (canslim Digest) To: canslim-digest@xmission.com Subject: canslim Digest V1 #253 Reply-To: canslim@xmission.com Sender: canslim-owner@xmission.com Errors-To: canslim-owner@xmission.com Precedence: canslim Digest Saturday, July 26 1997 Volume 01 : Number 253 In this issue: Re: [CANSLIM] IBD web site [CANSLIM] Short Position [CANSLIM] One worth watching, CHSE Re: [CANSLIM] IBD web site Re: [CANSLIM] Introduction [CANSLIM] Market Comments [CANSLIM] RE: canslim Digest V1 #252 Re: [CANSLIM] Market Comments Re: [CANSLIM] Market Comments Re: [CANSLIM] Market Comments [CANSLIM] day trading [CANSLIM] day trading Re: [CANSLIM] day trading Re: [CANSLIM] Introduction [CANSLIM] ATI Breakout Re: [CANSLIM] ATI Breakout [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... [CANSLIM] HUMCF Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... [CANSLIM] Tea Leaves [CANSLIM] List traffic Re: [CANSLIM] List traffic HDCO comments (was [CANSLIM] List traffic). 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: Tue, 22 Jul 1997 06:54:03 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] IBD web site I had no problem getting in this am. Did have problems a while back (last weekend?) but believe that was a nationwide server problem. Any statements or opinions are strictly my own and not that of my employer. My comments should not be intrepreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - ---------- From: Surindra J. Singh To: canslim@mail.xmission.com Subject: Re: [CANSLIM] IBD web site Date: Monday, July 21, 1997 12:21 PM I am unable to log on daily graphs for last three days or so. Anyone else having problems? ------------------------------ Date: Tue, 22 Jul 1997 07:10:32 -0400 From: "Tom Worley" Subject: [CANSLIM] Short Position For the first time in I don't know how many months, the short position on NYSE DIDN'T set a new record. For the month ending July 15, the total was down something like 1.4% (thought I printed the story but can't find it). Still, if every share traded was covering a short position, would take nearly seven days of average vol to close out all short positions. Frankly, I couldn't understand how a shorter was able to maintain his position for the past 3 to 4 months at least. But I treat the short position size as a contrarian indicator, so like to see it growing. If the shorts finally decide to cover in volume, we are likely to see a blow off top, at least for the short term, followed by a sharp correction. Any statements or opinions are strictly my own and not that of my employer. My comments should not be intrepreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w ------------------------------ Date: Tue, 22 Jul 1997 07:41:26 -0400 From: "Tom Worley" Subject: [CANSLIM] One worth watching, CHSE Was taking a look at CHS Electronics (CHSE), headquartered in Miami (for those that don't live here, you would be amazed at the numbers of people from Central and South America that travel here for no reason other than to purchase for export electronics and computer equipment, and this one is #1 in the Retail and Wholesale Computer equip group). GRS 28, RS 98, EPS 73, #1 in group, Up/down 1.7, timeliness A, debt high at 43% but inventory turnover 9.0, 3.69 times book value. Thanks to the latest two explosive quarters the trailing PE now down to 22 (putting it slightly under the S&P 500). According to DG Online, due to report Q2 on 8/1, did .44 vs .25 in Q1. Forecast is for 1.75 for full year, up 38%. Sales up sharply (171% and 189% last two qtrs), with earnings also accelerating (up 714% and 76%) Recently broke out from short base at 26, now looks like consolidating just over 30, suspect with earnings coming up will be a short consolidation. Float is only 8.0 million shares, still the average is 132,600 shares/day and on Monday did 307K shares. Any statements or opinions are strictly my own and not that of my employer. My comments should not be intrepreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w ------------------------------ Date: Tue, 22 Jul 1997 08:12:50 -0400 From: "Charles F. Corbit III" Subject: Re: [CANSLIM] IBD web site No problems here, it works fine as of last nite. Regards... - ---------- From: Surindra J. Singh To: canslim@mail.xmission.com Subject: Re: [CANSLIM] IBD web site Date: Monday, July 21, 1997 12:21 PM I am unable to log on daily graphs for last three days or so. Anyone else having problems? ---- From: Tom Worley To: canslim@mail.xmission.com Date: Sunday, July 20, 1997 10:05 PM Subject: Re: [CANSLIM] IBD web site John, I suspect the reference was to www.dailygraphs.com, This is a commercial site still in beta testing, so you can still register and get it for free last I heard. Billing is a "paper" bill, once they go operational you will be asked if you want to continue, if yes then they will bill according to what you enter. If you don't want to enter a credit card nr now, just enter all zeros. Once it's operational, I understand it will cost about $700 per year, about the same as the chart books, but without the cost of shipping. Any statements or opinions are strictly my own and not that of my employer. My comments should not be intrepreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - ---------- > From: JOHN R. ALLEN > To: canslim discussion grp > Subject: [CANSLIM] IBD web site > Date: Friday, July 18, 1997 10:47 PM > > The post of 7/18 mentions the IBD web site having RS, EPS and Acc/ Dis > information. What is the URL for this site? ------------------------------ Date: Tue, 22 Jul 1997 21:04:08 -0500 From: Kevin Bonifield Subject: Re: [CANSLIM] Introduction >Date: Mon, 21 Jul 1997 14:49:05 -0800 >From: pwahl@postoffice.worldnet.att.net >Subject: Re: [CANSLIM] Introduction >> To: canslim@xmission.com >> From: Kevin Bonifield >> (that I can write custom programs for). I also have a >> SuperCharts4 demo on the way (looked interesting on the >> website). I would like to consider TradeStation but it >> is incredibly expensive; although, I have been secretly >> trying to convince my wife to go into day-trading so I >Ugh, I would think pretty hard about day trading before making a >commitment to it. You are staring at a computer screen all day, you >are pretty isolated, from what I have heard the average day trader >doesn't do too well or last that long, at least in stocks. I think >you work pretty hard to grind out only an average return. Thanks for the day-trading info; I was actually joking about that part (my wife would kill me if I spent >>$1500 on software). I have to admit I've always wondered whether it was a doable thing...sounds like it is a bit of a trap. From the ads I've seen in IDB it looks like you have to start with a -very- sizable account anyway. >> 3. Take the winners (quite a few these days) and look at >> the company fundamentals. Throw away the ones I wouldn't >> enjoy owning for a few years if bad things happen. Especially >> consider earning performance, suprises in the past, when >I'm not quite sure if you mean what I think you mean, but for me, if >something bad happens, I am out immediately. No sense keeping money >tied up in something that will take a while to work its way out of >its problems. (I like your first two points though.) I agree.... I do set stop-losses but one of my biggest problems in the past was not giving a stock room to move. So if I saw it drop I'd get nervous and sell...and usually watch it shoot up after that :-( I've been using the discipline in HTMMIS and it helps (I do adjust the HTMMIS percents for the market cap, avg volume, and then trail after a profit). For me it is more psychological...if I feel it is worthy owning for a long time then it is probably a sound stock. After riding a stock down into Chapter 11 I learned my lesson :-) Thanks for your comments! //Kevin - --------------------------------------------------- Kevin Bonifield Senior Software Engineer kevinb@tulsa.oklahoma.net ------------------------------ Date: Tue, 22 Jul 1997 22:09:37 -0400 From: "Tom Worley" Subject: [CANSLIM] Market Comments Boy, don't recall the last time this group was so quiet, hope it cuz you're all off spending your profits partying! New closing high on the Dow 30 today, all major indexes up big time, guess I will change my name to Grizzzileli. Couldn't have been more wrong, never thought the media would take Greenspan's benign comments and translate them into NO FED RATE HIKE (at least for now). Didn't have the chance to listen to him live, but will try to finish reading the verbatim transcript tonight. I even saw several soundbite comments that could be suggestive of the Feds LOWERING rates in the future. A sleeper item: when we started this federal fiscal year last October, the budget deficit was estimated at over $100 billion for this year, and in the spring OMB dropped the estimate to about $64 billion. Normally the updated forecast would be announced around 7/15, but it has been held up so that it doesn't encourage Congress to change the current plans for spending reductions and an ultimate balanced budget (supposed to be finished by 8/1 or thereabouts). However unofficial estimates were already as low as $40 billion, lowest deficit since 1974 and continuing a five year streak of falling deficits (sure wish I could get away overspending my checking account by just a small percentage of that, hell, even a single percent of that). Best guess now is that we may finish this fiscal year with a budget deficit of "only" $35 billion, meaning we will "only" overspend the federal budget by an average of $8 billion in each of the three remaining months. BTW, for the month of June alone, the Fed govt paid interest on the national debt of over $19 billion, think where we could be in a few years if we started now to retire this burden. Now, tax revenues have continued to grow to the point that thru the first nine months of this fiscal year, the net deficit for this FY is only $10 billion (same time last year it was $74 billion). This is just one of the many fundamental supports for this screaming "aging" bull mkt. BTW, for those who have never been a part of the US Federal govt, there is a mad flurry of spending that occurs in late August and early September as all the field units, sub-agency units, etc spend off any remaining moneys allocated, since most agencies close out all subordinate budgets around 9/15 and pull any remaining funds back to the parent (and who wants to give back money you already got?). Goldman Sachs today announced they expect this bull mkt to continue essentially unchecked for TWO MORE YEARS. But after that, they expect a sharp correction. Listened to one commentator on CNBC who made sense, he expects a continuation like this, with the Dow 30 reaching 8300 or so by October, but sometime after that followed by a 15% correction. Earnings remain very strong, with pos surprises still running well ahead of the combo of neg and in-line reports. Big caps, esp techs, still rule the mkt. IBM turned in a surprisingly (to me at least) strong day today. Didn't hear or see any analysts focus on what I was looking at. Guess they must have had it all figured, including the reduction in issued shares. Also didn't see a single analyst cut earnings forecast, or any brokerage house cut ratings. Strange! Biggest contributors to today's 154 pt gain was CHV (added a factored 10 pts) and DD (added factored 11 pts). Only Dow 30 stocks down for the day was CAT (despite beating earnings estimates, forecasting continued growth in the second half, and speaking well of next year, something they don't even usually comment on till the end of the year) and IBM (yada, yada, yada). Late trading saw NSCP trading as high as 48 and closing at 45 (up a half) after reporting it had operating income of 10 cents, with estimates at 10 cents and year ago at 7 cents. Big winner was EMC trading at 51, up 4, which beat estimates (reported 50 cents, est for 48, year ago 36 cents). PLAT also beat estimates by two cents and was down 7/16. Consider me an unpaid political activist if you will, but I continue to consider the national debt as the biggest single threat to continuing this economic expansion. It contributes to higher interest rates, it sucks up moneys that could be used for growth, consumption, etc. Meantime, the highway infrastructure continues to deteriorate, our school system is very poorly compared internationally, 30% or more of the homeless (a way too high nr already) are military vets, effective job training is often inaccesible for many, entire families are living in cars or on the streets, the population is aging, the retired community is growing, the employed community is stagnant or shrinking, and we are cutting back on many parts of the safety net for the elderly and soon to be elderly (a high percent of which don't have meaningful retirement funds). Any statements or opinions are strictly my own and not that of my employer. My comments should not be intrepreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w ------------------------------ Date: Tue, 22 Jul 1997 20:49:55 -0500 From: Michael Meyers Subject: [CANSLIM] RE: canslim Digest V1 #252 - ------ =_NextPart_000_01BC96EB.A94B5A20 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit CANSLIMers, I have not contributed any stocks to this discussion group. This needs to chage.... The following three stocks looked pretty good to me. HMAR, PRCN, WLFC Michael [as always, do your own homework before investing] - ------ =_NextPart_000_01BC96EB.A94B5A20 Content-Type: application/ms-tnef Content-Transfer-Encoding: base64 eJ8+IiQDAQaQCAAEAAAAAAABAAEAAQeQBgAIAAAA5AQAAAAAAADoAAENgAQAAgAAAAIAAgABBJAG ACABAAABAAAADAAAAAMAADADAAAACwAPDgAAAAACAf8PAQAAAEcAAAAAAAAAgSsfpL6jEBmdbgDd AQ9UAgAAAABjYW5zbGltQHhtaXNzaW9uLmNvbQBTTVRQAGNhbnNsaW1AeG1pc3Npb24uY29tAAAe AAIwAQAAAAUAAABTTVRQAAAAAB4AAzABAAAAFQAAAGNhbnNsaW1AeG1pc3Npb24uY29tAAAAAAMA FQwBAAAAAwD+DwYAAAAeAAEwAQAAABcAAAAnY2Fuc2xpbUB4bWlzc2lvbi5jb20nAAACAQswAQAA ABoAAABTTVRQOkNBTlNMSU1AWE1JU1NJT04uQ09NAAAAAwAAOQAAAAALAEA6AQAAAAIB9g8BAAAA BAAAAAAAAAPvNQEIgAcAGAAAAElQTS5NaWNyb3NvZnQgTWFpbC5Ob3RlADEIAQSAAQAbAAAAUkU6 IGNhbnNsaW0gRGlnZXN0IFYxICMyNTIA2wcBBYADAA4AAADNBwcAFgAUADEANwACAG8BASCAAwAO AAAAzQcHABYAFAAwAAgAAgA/AQEJgAEAIQAAAEFBOEYxMTMwRDIwMkQxMTE4MzY0NDQ0NTUzNTQw MDAwAKsGAQOQBgDwAgAAEgAAAAsAIwAAAAAAAwAmAAAAAAALACkAAAAAAAMANgAAAAAAQAA5AEAz TLgKl7wBHgBwAAEAAAAbAAAAUkU6IGNhbnNsaW0gRGlnZXN0IFYxICMyNTIAAAIBcQABAAAAFgAA AAG8lwq4RDARj6sC0hHRg2RERVNUAAAAAB4AHgwBAAAABQAAAFNNVFAAAAAAHgAfDAEAAAARAAAA bW5tZXllcnNAbWNzLmNvbQAAAAADAAYQ+OR03QMABxC1AAAAHgAIEAEAAABlAAAAQ0FOU0xJTUVS UyxJSEFWRU5PVENPTlRSSUJVVEVEQU5ZU1RPQ0tTVE9USElTRElTQ1VTU0lPTkdST1VQVEhJU05F RURTVE9DSEFHRVRIRUZPTExPV0lOR1RIUkVFU1RPQ0tTTAAAAAACAQkQAQAAAHEBAABtAQAAJwIA AExaRnWIAF31/wAKAQ8CFQKoBesCgwBQAvIJAgBjaArAc2V0MjcGAAbDAoMyA8UCAHByQnER4nN0 ZW0CgzN3AuQHEwKAfQqACM8J2TvxFg8yNTUCgAqBDbELYOBuZzEwMxRQCwoUUQUL8mMAQCBDQU5T yExJTQSQcywKhQqFBEkgEYB2ZSBub08FQAWgAjAFEGJ1E9BkEiAAcHkgE8BvY2uXBCAeQB6QaAQA IGQEAPRjdQQQaQIgCoUJwAhgqHAuICCQVB7ibgngxmQegxFxZ2UuIfEgkfcgsRzQAhBsFaAD8BkQ CoXPHtAJ0R4mFaBvax3BE1D1EcB0HhBnJJAd0B6hB4ACLhusSE1BUiwgEFBSQ04nMFdMRpJDG6xN aRFxZWwbrMxbYQQgB0B3YROwJzBqZB6weQhhICLwA6BoxwNwB9AFsGsgYg3ABbDfHNALgBzAE8Aj EV0ZzRNQXx0ABZAFQAqFFTEAL2AAAAADABAQAAAAAAMAERABAAAAQAAHMIAJdngKl7wBQAAIMIAJ dngKl7wBHgA9AAEAAAAFAAAAUkU6IAAAAABkuQ== - ------ =_NextPart_000_01BC96EB.A94B5A20-- ------------------------------ Date: Tue, 22 Jul 1997 22:23:44 -0500 (CDT) From: dcameron@harper.cc.il.us (Dave Cameron) Subject: Re: [CANSLIM] Market Comments > > Boy, don't recall the last time this group was so quiet, hope it > cuz you're all off spending your profits partying! Nah... no such luck, trying to figure out why my stocks didn't rebound back to highs with most of the market (HYSW, HDCO). Maybe both were over-extended. HDCO hasn't breached my sell point yet. > > New closing high on the Dow 30 today, all major indexes up big > time, guess I will change my name to Grizzzileli. Couldn't have > been more wrong, never thought the media would take Greenspan's > benign comments and translate them into NO FED RATE HIKE (at least > for now). Didn't have the chance to listen to him live, but will Well, as you well know, there's no place for ego in this business. Once you REALLY start thinking you can predict it all - you're doomed to be deluding yourself. > try to finish reading the verbatim transcript tonight. I even saw > several soundbite comments that could be suggestive of the Feds > LOWERING rates in the future. > I didn't hear that. In fact, I took A.G.'s comments to mean no rate hike in the foreseeable future, but the "still keeping one eye on inflation" comment allows for plenty of leewayy to raise rates at some point. > > Goldman Sachs today announced they expect this bull mkt to continue > essentially unchecked for TWO MORE YEARS. But after that, they Yeah, right, as if they can predict tnext week, much less 2 years! > expect a sharp correction. Listened to one commentator on CNBC who > made sense, he expects a continuation like this, with the Dow 30 > reaching 8300 or so by October, but sometime after that followed by > a 15% correction. > Tom's soapbox follows: > Consider me an unpaid political activist if you will, but I > continue to consider the national debt as the biggest single threat > to continuing this economic expansion. It contributes to higher > interest rates, it sucks up moneys that could be used for growth, > consumption, etc. Meantime, the highway infrastructure continues to > deteriorate, our school system is very poorly compared > internationally, 30% or more of the homeless (a way too high nr > already) are military vets, effective job training is often > inaccesible for many, entire families are living in cars or on the > streets, the population is aging, the retired community is growing, > the employed community is stagnant or shrinking, and we are cutting > back on many parts of the safety net for the elderly and soon to be > elderly (a high percent of which don't have meaningful retirement > funds). Ya know, people may not think it, but this IS related to the market. There's no other reason why we shouldn't have interest rates comparable to 1964. We have similar inflation rates, better employment, etc., etc., etc. BUT, we have a HUGE deficit now that didn't exist in '64 - and a govt. which takes a greater percentage of GDP in taxes. My father bought his last house in 1964, and got a fixed rate 30-yr no-points loan at 5%. If the govt weren't financing so much debt, there wouldn't be as many bonds out there so prices would go up. Ergo, we might have lower rates, and a continuing strong market. Anyway, just wanted to point out that your social commentary isn't ALL rambling - there is relevance. I believe that CANSLIMers (as well as all investors) should watch these figures, and I thank you for reminding us. Later, Dave Cameron ------------------------------ Date: Wed, 23 Jul 1997 07:40:28 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Market Comments Thanks, Dave, appreciate the support. Sadly it took many years of growing deficits before the taxpayers finally woke up and told their politicians that they had to stop overspending the revenues. Then it took a number of years more just to get where we are, on the verge of a balanced budget agreement. In that interval, we added about two trillion dollars more in debt. Only a few years ago, it cost about $12 billion to service the nat'l debt. Now the monthly charge, even with interest rates lower on a good part of it, is over $19 billion. How many years will it take for taxpayers to tell their politicians they don't want to pass that burden onto their children, and grandchildren, and it's time to grow a backbone, represent the interests of the nation, and start paying off that debt!! Any statements or opinions are strictly my own and not that of my employer. My comments should not be intrepreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - ---------- > From: Dave Cameron > To: canslim@mail.xmission.com > Subject: Re: [CANSLIM] Market Comments > Date: Tuesday, July 22, 1997 11:23 PM > > > > Tom's soapbox follows: > > > Consider me an unpaid political activist if you will, but I > > continue to consider the national debt as the biggest single threat > > to continuing this economic expansion. It contributes to higher > > interest rates, it sucks up moneys that could be used for growth, > > Ya know, people may not think it, but this IS related to the market. > There's no other reason why we shouldn't have interest rates comparable > to 1964. We have similar inflation rates, better employment, etc., etc., > etc. BUT, we have a HUGE deficit now that didn't exist in '64 - and > a govt. which takes a greater percentage of GDP in taxes. My father > > Anyway, just wanted to point out that your social commentary isn't > ALL rambling - there is relevance. I believe that CANSLIMers (as well > as all investors) should watch these figures, and I thank you for > reminding us. > > Later, > > Dave Cameron > ------------------------------ Date: Wed, 23 Jul 1997 10:06:47 -0400 (EDT) From: Dbphoenix@aol.com Subject: Re: [CANSLIM] Market Comments In a message dated 97-07-23 00:08:46 EDT, you write: << Boy, don't recall the last time this group was so quiet, hope it cuz you're all off spending your profits partying! >> Sorry, Tom. A, I'm out of money. B, most of what turns up in my scans is crap. Therefore, my "investing" consists mainly of dumping my laggards and adding to my strongest. Which is probably for the best since I own way too many stocks as it is. A few, such as UTI and DSPG, are approaching or have passed sell points, but given the conditions, I see no point in selling until some support of some sort is violated. I did find one stock that looked interesting, but it's more SIM than CANSLIM, so I hesitate to bring it up. Trucking seems to be doing nicely and a few retail names are popping up, but I tend to avoid retail and restaurants--their fortunes can turn on a dime. Everything else is overextended, it seems to me, and buyable only by those who already have it and are averaging up. There's XIRC, but some might consider this bottom-fishing. - -----Db ------------------------------ Date: Wed, 23 Jul 1997 08:03:13 -0700 From: "Ken Davidson" Subject: [CANSLIM] day trading About the comment on day trading: I used to be a option day trader on the OEX so I don't suggest to anyone to do it. I used to get a measly profit and pay huge commisions because there were no discount brokers and work over 12 hours a day. It was a tough trading time. It did teach me alot about the market however. I now write a weekly news letter specializing in credit spreads on the spx. I've been in the stockmarket for over 15 years and its not the easy life that people think it is, that is unless your stock promoter! Thats where the big bucks are. By the way it looks like Alice Rivlin the vice fed chiefs comments are pulling the market down. She was'nt so keen on the inflation outlook that Greenspan was! Have a good one Ken Davidson ------------------------------ Date: Wed, 23 Jul 1997 08:03:13 -0700 From: "Ken Davidson" Subject: [CANSLIM] day trading About the comment on day trading: I used to be a option day trader on the OEX so I don't suggest to anyone to do it. I used to get a measly profit and pay huge commisions because there were no discount brokers and work over 12 hours a day. It was a tough trading time. It did teach me alot about the market however. I now write a weekly news letter specializing in credit spreads on the spx. I've been in the stockmarket for over 15 years and its not the easy life that people think it is, that is unless your stock promoter! Thats where the big bucks are. By the way it looks like Alice Rivlin the vice fed chiefs comments are pulling the market down. She was'nt so keen on the inflation outlook that Greenspan was! Have a good one Ken Davidson ------------------------------ Date: Thu, 24 Jul 1997 04:01:21 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] day trading On Wed, 23 Jul 1997 08:03:13 -0700, you wrote: :About the comment on day trading: :I used to be a option day trader on the OEX so I don't suggest to anyone= to :do it. I used to get a measly profit and pay huge commisions because = there :were no discount brokers and work over 12 hours a day. It was a tough :trading time. It did teach me alot about the market however. I now = write :a weekly news letter specializing in credit spreads on the spx. I've = been :in the stockmarket for over 15 years and its not the easy life that = people :think it is, that is unless your stock promoter! Thats where the big = bucks :are. At one time I made an effort to become a stockbroker, thinking it was my destiny to become very wealthy and that getting into "finance" would be an opportunity to realize that destiny. I bought a couple of very nice suits and interviewed at a number of stock brokerages shortly after leaving the University. I got no offers, but one house gave me a personality test and I was offered the advice, "you are too introspective to be a stock broker." I was pretty naive at the time and had glamourous notions of things happening I barely dared to dream of. The reality of it, though, is that it is tough and cold...at the start, anyway. Cold calls. :By the way it looks like Alice Rivlin the vice fed chiefs comments are :pulling the market down. She was'nt so keen on the inflation outlook = that :Greenspan was! Is Alice the mousey short one with dark hair whose chin almost seemed to graze the table as she spoke in front of the Committee? (I saw it on TV). I believe I heard her say something about the rate burp-reality check back in March (was it March). It was far less than threatening. Dan Musicant :Have a good one : :Ken Davidson=20 ------------------------------ Date: Thu, 24 Jul 1997 06:50:24 -0800 From: pwahl@postoffice.worldnet.att.net Subject: Re: [CANSLIM] Introduction > To: canslim@xmission.com > I do set stop-losses but one of my biggest problems in the past > was not giving a stock room to move. So if I saw it drop I'd get > nervous and sell...and usually watch it shoot up after that :-( > I've been using the discipline in HTMMIS and it helps (I do adjust > the HTMMIS percents for the market cap, avg volume, and then trail > after a profit). We've had a few discussions on this list about when to sell and how tight a stop should be. For me anyway, the toughest part of the stock trading business is knowing when to get out. Once you realize you'll never pick the top, it does help a little bit, psychologically anyway (at least it helps my own noodle a little bit). Part of it probably gets down to your personal trading style, and also how strong your convictions are regarding a particular stock. If you think you own the next Microsoft (or Microsoft itself) you will probably give it more room to bounce around than if you own some small volatile tech stock that may be subject to wide price swings. ------------------------------ Date: Thu, 24 Jul 1997 10:07:08 -0400 From: Craig Griffin Subject: [CANSLIM] ATI Breakout ATI broke out this morning. Traded average daily volume by 10am. It is a big cap (503 million shares out) cellular company with worldwide exposure. Earnings today beat estimates. Base is about 1 year long. Pivot is 29 5/8. Disclaimer: I am in. Regards, Craig ------------------------------ Date: Fri, 25 Jul 1997 02:41:15 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] ATI Breakout On Thu, 24 Jul 1997 10:07:08 -0400, you wrote: :ATI broke out this morning. Traded average daily volume by 10am. It is= a :big cap (503 million shares out) cellular company with worldwide = exposure. :Earnings today beat estimates. Base is about 1 year long. Pivot is 29 = 5/8. : :Disclaimer: I am in. : :Regards, :Craig I saw this post almost an hour after it was posted. At that point the stock was up around 2 1/2 points at about 30 3/4 -- about 11:00 eastern. I was tempted to jump in, and would have shown a paper profit if I had gotten in at 31, as it closed at 31 9/16. Will it continue up? Dan : ------------------------------ Date: Fri, 25 Jul 1997 20:40:19 +0200 From: Johan Van Houtven Subject: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... CHSE is a computer/components distributor. Mentioned before here by Tom. ADV: Av Daily vol is 132600 per DG. It is 1 1/2 before market close Friday 7/25 and CHSE is trading approx 6 mio shares. That is approx 45 times ADV! Float is 8 mio. It is near it's all time high. Anyone have any experience with this kind of volume? It's making me very curious about what is going on here. Disclaimer: I own CHSE. EPS: 73 RS: 98 Acc: A Timeliness: A GRS: 28 U/D 1.7 (That will probably change after today. ;^) Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium ------------------------------ Date: Fri, 25 Jul 1997 14:08:45 -0500 (CDT) From: Anthony Ku Subject: [CANSLIM] HUMCF Has anyone checked out HUMCF? broke up from $35, EPS 99, RS 88, etc. Anthony Ku aku@idir.net Pager number: 913-838-0986 or 1-800-875-1243 for a dispatcher ------------------------------ Date: Fri, 25 Jul 1997 15:12:22 -0400 (EDT) From: Dbphoenix@aol.com Subject: Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... In a message dated 97-07-25 15:01:30 EDT, you write: << CHSE is a computer/components distributor. Mentioned before here by Tom. ADV: Av Daily vol is 132600 per DG. It is 1 1/2 before market close Friday 7/25 and CHSE is trading approx 6 mio shares. That is approx 45 times ADV! Float is 8 mio. It is near it's all time high. Anyone have any experience with this kind of volume? It's making me very curious about what is going on here. Disclaimer: I own CHSE. EPS: 73 RS: 98 Acc: A Timeliness: A GRS: 28 U/D 1.7 (That will probably change after today. ;^) Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium>> Not only that, 168 blocks have traded. Don't panic, Johan. I assume it has to do with the completion of their share offering of 13M. If so, it's good to know that it's being snapped up and the price is on the rise. I had forgotten that this was Tom's pick. I mentioned it on the AOL board after it showed up on one of my scans and everybody pooh-poohed me. Well, nyah, nyah, nyah! As long as I'm here, I'd like to mention another stock I've been watching--OVRL. I hesitate to do so, because it's not really CS, at least in terms of the annual record. And it's current annual earnings are expected to be 20% below last year's earnings. The thing is, there's been noticeable strength in the stock the past few days, its earnings are due 8/5, and it showed a substantial earnings surprise the previous quarter. If it does so again, annual earnings will be up, not down. It's tough to get info on this company as it was an IPO in January. But S&P seems to like it, and those who follow it consider it a "strong buy". If this is too far outside CS, my apologies. But you just never know, and I've learned to pay attention to unusual volume. If it works out, it'll be a partial payback for all the good info I've received here, particularly with regards to oil. - -----Db ------------------------------ Date: Fri, 25 Jul 1997 21:28:43 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... DB wrote: > If it works out, it'll be a >partial payback for all the good info I've received here, particularly with >regards to oil. > >-----Db You like oils. Take a look at SESI. Breaking out as I write. :-) Disclaimer: I'm already in. I has been good to me before. B^) Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium ------------------------------ Date: Fri, 25 Jul 1997 21:44:29 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... Ok. Question answered. Just got the news. Funny that Lombard's real-time news did and still does not show this! I got it via Yahoo. MIAMI, July 25 /PRNewswire/ -- CHS Electronics, Inc. (Nasdaq:CHSE), a leading international distributor of microcomputer products, reported today that it has completed a public offering of 13 million shares of common stock at a price of $31.75 per share. Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium ------------------------------ Date: Fri, 25 Jul 1997 19:31:06 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... And I'm most embarrassed to say I only looked at the DG on it and got too busy the next day to check news and discover there was a secondary pending. My apologies, esp since I have so empathized doing research before buying. Glad it's working out well so far. These 12 hour work days are REALLY cutting into my energy levels and time to check out stocks. Gotta get my priorities straight. Any statements or opinions are strictly my own and not that of my employer. My comments should not be intrepreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - ---------- > From: Johan Van Houtven > To: canslim@mail.xmission.com > Subject: Re: [CANSLIM] CHSE ADV 132600 currently trading almost 6 mio... > Date: Friday, July 25, 1997 3:44 PM > > Ok. Question answered. Just got the news. Funny that Lombard's real-time > news did and still does not show this! I got it via Yahoo. > > MIAMI, July 25 /PRNewswire/ -- CHS Electronics, Inc. (Nasdaq:CHSE), a > leading international distributor of > microcomputer products, reported today that it has completed a public > offering of 13 million shares of common stock > at a price of $31.75 per share. > > > > Johan Van Houtven > CLICK! N.V. / Wilrijk, Belgium > ------------------------------ Date: Fri, 25 Jul 1997 20:28:32 -0400 From: John Lloyd Subject: [CANSLIM] Tea Leaves The tea leaves were right. What a ride Plasma Therm Inc PTIS RS= 96 ESP= 95 A/D= A Timeliness Rank= C Group Rank= 99 Float 7.5 million shrs. Funds 2% Banks 5% (daily graphs) Next Reporting date 9/27/97 John Lloyd ------------------------------ Date: Sat, 26 Jul 1997 13:15:46 -0500 (CDT) From: dcameron@harper.cc.il.us (Dave Cameron) Subject: [CANSLIM] List traffic Hmm.... Jeff sent out a posting the other day in his guise as list guy mentioning we don't post responses such as "I agree" etc... Well... now look what happened. Postings have dwindled a small trickle. I know, its probably coincidence, but.... We have quite a number of knowledgable people on this list; it is surprising no one has much to say. Anyway, I have a question for the group (maybe I'll even get a response or two). I bought HDCO 6-8 weeks ago. I realize now that it was overextended going up to 75 - but hey, so were many stocks. Anyway, following CANSLIM, I probably should have sold on Friday (maybe even earlier) as it started to retrace. The odd thing about HDCO, though, is that its rise (from 65 to 75) was on low volume. As such, its drop is not surprising. I set myself a stop at 65. However, given the recent action, I'm thinking it might be better to get out now. Yet I'm up for advice (which I can take or disregard, so don't feel responsible). The last couple times I sold when a stock was retracing - I sold at a relative low. The stock turned around and picked up steam. HDCO's volume on Friday looks like it might do this. Anyone else want to venture a read on the chart? Enjoy, Dave Cameron ------------------------------ Date: Sat, 26 Jul 1997 20:45:58 -0600 (MDT) From: Jeff Beckham Subject: Re: [CANSLIM] List traffic Dave wrote: HDCO's volume on Friday looks like it might do this. Anyone else want to venture a read on the chart? Hi Dave, I took a quick look at HDCO's charts and wasn't impressed at all with the way they currently look. This is the first time I've looked at this company, so I don't have any knowledge of their history, news etc. The 3 main charts I use are Williams% (set at 28 days), Stochastics and MACD. HDCO didn't look like a hold on any of them. But like we all know, if these things worked all the time we wouldn't have to. :) Jeff ------------------------------ Date: Sat, 26 Jul 1997 21:46:02 -0600 (MDT) From: cando@highfiber.com Subject: HDCO comments (was [CANSLIM] List traffic). >Anyway, I have a question for the group (maybe I'll even >get a response or two). I bought HDCO 6-8 weeks ago. I >realize now that it was overextended going up to 75 - but >hey, so were many stocks. Anyway, following CANSLIM, I >probably should have sold on Friday (maybe even earlier) >as it started to retrace. The odd thing about HDCO, though, >is that its rise (from 65 to 75) was on low volume. As such, >its drop is not surprising. I set myself a stop at 65. >However, given the recent action, I'm thinking it might be >better to get out now. Yet I'm up for advice (which I >can take or disregard, so don't feel responsible). The last >couple times I sold when a stock was retracing - I sold at >a relative low. The stock turned around and picked up >steam. HDCO's volume on Friday looks like it might do >this. Anyone else want to venture a read on the chart? > >Enjoy, > >Dave Cameron Hi Dave! I'll share my thoughts with you re HDCO/Hadco Corp (as a (former) HDCO shareholder for 5 wks). I noticed it back in May, felt it had the basic CAN SLIM characteristics (nothing outstanding but solid), very good group strength/action and it looked like it had the potential to form a cup and handle. I put in a buy stop order at 58 3/8 for it about 7-10 days into the possible handle formation (5/19) and boought it at 58.5 on 5/21. I watched it through June and although it went up, it only had one really big volume day (6/5, up 500-600%). At the Advanced Investment Workshop I went to in LA it was stated that "volume is the single most important indicator" (close paraphrase). With that on my mind, I didn't really feel that it was acting right so I sold out at 63 early in July. As you noted it has gone up (and back down) but the volume hasn't been there where it should have been, in my estimation-so I feel it's somewhat suspect. Just to check myself on situations like this I print out a follow up chart 3 and 6 months after I sell just to see what indeed happened to the stock after I sold-was I right or was there some factor that I overlooked? Time will tell on that. I missed it going into the high 60's and low 70's but I'm never really sorry if when I sell, I still have all my capital. That's my 2 cents worth. Anybody have thoughts on AZZ (Aztec Mfg) right now? Is it basing/consolidating or topping and heading down? I think the volume on its rise has been better than HDCO and it was holding up fairly well 5-6-7 days ago when a lot of stocks were taking hits. James Coburn Albuquerque, NM ------------------------------ End of canslim Digest V1 #253 ***************************** 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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