From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #1173 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Saturday, March 3 2001 Volume 02 : Number 1173 In this issue: [CANSLIM] Oct 31, 1996 Re: [CANSLIM] Selling Strategies Re: [CANSLIM] OFF LIST(was Fund Ownership) Re: [CANSLIM] Selling Strategies - Question Re: [CANSLIM] Selling Strategies Re: [CANSLIM] remove Re: [CANSLIM] Oct 31, 1996 Re: [CANSLIM] Selling Strategies - Question Re: [CANSLIM] Oct 31, 1996 RE: [CANSLIM] OFF LIST(Mutual Fund Answer) RE: [CANSLIM] Mutual Funds - Cut Your Losses RE: [CANSLIM] Oct 31, 1996 [CANSLIM] Accessing the discussion canslim archives... RE: [CANSLIM] Selling Strategies - Question Re: [CANSLIM] Oct 31, 1996 ---------------------------------------------------------------------- Date: Fri, 2 Mar 2001 19:45:07 -0800 (PST) From: Dave Cameron Subject: [CANSLIM] Oct 31, 1996 The eminent and self-proclaimed thin skinned "stkguru", Mr Tom Worley mentioned that he's been hanging around this board for 4 years. To me, that was an interesting revelation. I went back and checked the Cameron archives, and my first interaction with Tom was on Oct 31, 1996 - this was very close to the first day of this list (which has been revamped). Within that time frame, Tom was absent for a stretch or two for a few months (as part of his thin skin persona). Of course, I've been absent for several months on a couple of occasions due to family matters. Regardless, the point I want to make is that Tom has remained a very helpful and very active poster for the vast majority of the last 4 years and 4 months on this list. While he's been here, he has greeted nearly every newcomer, encouraged nearly everyone with questions and thoughts to share them, and posted more than probably any 3 of us combined with relevant insights. Thanks Tom - I didn't realize how long its been. Dave Cameron dfcameron@yahoo.com __________________________________________________ Do You Yahoo!? Get email at your own domain with Yahoo! Mail. http://personal.mail.yahoo.com/ - - ------------------------------ Date: Fri, 2 Mar 2001 19:47:17 -0800 (PST) From: Dave Cameron Subject: Re: [CANSLIM] Selling Strategies THAT is what I like to see.... a positive outlook! - --- John wrote: > We must be at the bottom. My last stock sold -- that > always happens at the bottom. > > John > > __________________________________________________ > Do You Yahoo!? > Get email at your own domain with Yahoo! Mail. > http://personal.mail.yahoo.com/ > > - > __________________________________________________ Do You Yahoo!? Get email at your own domain with Yahoo! Mail. http://personal.mail.yahoo.com/ - - ------------------------------ Date: Fri, 2 Mar 2001 23:18:25 -0600 From: "walter nusbaum" Subject: Re: [CANSLIM] OFF LIST(was Fund Ownership) This is a multi-part message in MIME format. - ------=_NextPart_000_00FF_01C0A36F.15558F40 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Rick, Sorry, I can't be of further help, but DougC's address is dzc@qwest.net. = =20 Best wishes, Walt ----- Original Message -----=20 From: Rick Parsons=20 To: canslim@lists.xmission.com=20 Sent: Friday, March 02, 2001 6:40 PM Subject: RE: [CANSLIM] Fund Ownership I'm using Outlook 2000, not Outlook Express. A right click on the = envelope does not show "properties" in my case. Besides wouldn't it show canslim@lists.xmission.com as the sender? Rick -----Original Message----- From: owner-canslim@lists.xmission.com = [mailto:owner-canslim@lists.xmission.com]On Behalf Of walter nusbaum Sent: Friday, March 02, 2001 1:35 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Fund Ownership ----- Original Message -----=20 From: Rick Parsons=20 To: canslim@lists.xmission.com=20 Sent: Friday, March 02, 2001 11:54 AM Subject: RE: [CANSLIM] Fund Ownership How does one do a private reply to an individual like DougC? = There is no display of his email address. Rick, Before opening an email, put your cursor over the name or the = envelope to the left and right click. A window will drop down. Choose = "Properties" and the sender's address will appear. Best wishes, Walt - ------=_NextPart_000_00FF_01C0A36F.15558F40 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Rick,
Sorry, I can't be of further help, but DougC's = address is=20 dzc@qwest.net.   =
Best wishes,
Walt
 
----- Original Message -----
From:=20 Rick Parsons
Sent: Friday, March 02, 2001 = 6:40=20 PM
Subject: RE: [CANSLIM] Fund=20 Ownership

I'm using Outlook 2000, not Outlook Express.  A = right=20 click on the envelope does not show "properties" in my=20 case.
Besides wouldn't it show canslim@lists.xmission.com as the sender?
 
 
Rick
-----Original Message-----
From: owner-canslim@lists.xmis= sion.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of walter=20 nusbaum
Sent: Friday, March 02, 2001 1:35 PM
To: = canslim@lists.xmission.com
Subject: Re: [CANSLIM] Fund=20 Ownership

 
----- Original Message ----- =
From:=20 Rick Parsons =
To: canslim@lists.xmission.com= =20
Sent: Friday, March 02, = 2001 11:54=20 AM
Subject: RE: [CANSLIM] Fund = Ownership

How does one do a private reply = to an=20 individual like DougC?  There is no display of his email=20 address.
 
 
Rick,
Before opening an = email, put your=20 cursor over the name or the envelope to the left and right click. = A window=20 will drop down. Choose "Properties" and the sender's address will=20 appear.
Best = wishes,
Walt
 
 
- ------=_NextPart_000_00FF_01C0A36F.15558F40-- - - ------------------------------ Date: Fri, 2 Mar 2001 21:21:27 -0800 (PST) From: John Subject: Re: [CANSLIM] Selling Strategies - Question You will get a lot of opinion on a question like that. I will give you mine. O'Neil says a lot of things in his books. Three things that he says very often are: buy stocks in companies with strong fundamentals, pick good entry points, and limit you losses. The 8% stop is to limit your losses. How you implement it(7%, 8%, 9%, . . ., sell today, sell tomorrow)is much less important than that you do implement it. Having said all of that, personally, I require that the stock close below the stop and I place a sell order for the next day. Quite often I find stocks "spiking" down (as some trader picks up all of the nearby stop-loss orders), before trading somewhat higher -- sometimes a lot higher! I sometimes get cute and enter a limit order or wait until after the open, but I would have to admit that, on the average, a sell-on-open would have worked as well as anything. What you are doing is giving up on the stock -- it shouldn't have been down 8% at all! You are saving you capital to go on and find better position. I hope that this helps. John - --- Brett Roy wrote: > Glad I found this group ... checked the archives and > did not stumble accross any relevant messages but if > I did, please advise! > > My question is on sell stops (8%) that are > recommended by O'Neil. His book does not recommend > stop orders so how do you handle these, just by > keeping an 'eye' on the stock? > > For example if I buy at 100 and the stock after a > few weeks gets to 93 I am close to my stop point. > What happens if it starts the next day at 93, gets > down to 90, then closes the day at 93 again. Should > there have been a sell there? How about is starts > at 93 gets down to 91 at the close, then I notice it > is below, then it opens at 93 the next AM? > > Newbie asking for advice! > Thanks, > Brett > > > -- > Brett Roy > brettr@vistacreek.com > -------------- > "Don't stare at me, Eddie. I'm a humane man, but > right now I could kick a kitten through an electric > fan." > -- -- Frasier addressing his father's dog after > having a bad day > > -- > > - > __________________________________________________ Do You Yahoo!? Get email at your own domain with Yahoo! Mail. http://personal.mail.yahoo.com/ - - ------------------------------ Date: Fri, 2 Mar 2001 21:24:28 -0800 (PST) From: John Subject: Re: [CANSLIM] Selling Strategies I have read that the market won't put in a bottom until everyone is depressed. I was just trying to help it along. :<) John - --- Dave Cameron wrote: > THAT is what I like to see.... a positive outlook! > > --- John wrote: > > We must be at the bottom. My last stock sold -- > that > > always happens at the bottom. > > > > John __________________________________________________ Do You Yahoo!? Get email at your own domain with Yahoo! Mail. http://personal.mail.yahoo.com/ - - ------------------------------ Date: Sat, 3 Mar 2001 00:25:38 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] remove This is a multi-part message in MIME format. - ------=_NextPart_000_0011_01C0A378.78F06F80 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Gee, just ask the right way, and you're gone immediately and = automatically! Simply click on either of the two addresses below and follow the instructions of what to put in the text of your email. Then you will be automatically removed from this group list, without having to bother the rest of the members, or forcing Jeff to remove you manually. Sigh, it's so easy, too. canslim-request@lists.xmission.com in the text put u-n-s-u-b-s-c-r-i-b-e (without the hyphens) or you can send email to majordomo@lists.xmission.com and put u-n-s-u-b-s-c-r-i-b-e canslim (without the hyphens) or if you are trying to exit using a different email address follow the canslim with your registered email address. Tom Worley stkguru@netside.net ICQ # 5568838 ----- Original Message -----=20 From: dmonroetx=20 To: canslim@xmission.com=20 Sent: Friday, March 02, 2001 11:14 AM Subject: [CANSLIM] remove remove Get me off this list - pronto!!!!! =20 - ------=_NextPart_000_0011_01C0A378.78F06F80 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Gee, just ask the right way, and you're gone = immediately and=20 automatically!
 
Simply click on either of the two addresses below = and follow=20 the
instructions of what to put in the text of your email.  Then = you
will be automatically removed from this group list, = without
having to=20 bother the rest of the members, or forcing Jeff to
remove you=20 manually.

Sigh, it's so easy, too.

canslim-request@lists.= xmission.com
 in=20 the text put u-n-s-u-b-s-c-r-i-b-e (without the hyphens)

or you = can send=20 email to majordomo@lists.xmission.com=
and=20 put u-n-s-u-b-s-c-r-i-b-e canslim (without the hyphens)
or if you are = trying=20 to exit using a different email address
follow the canslim with your=20 registered email address.

Tom Worley
stkguru@netside.net
ICQ # = 5568838
 
 
----- Original Message -----
From:=20 dmonroetx
Sent: Friday, March 02, 2001 = 11:14=20 AM
Subject: [CANSLIM] remove

remove
Get me off this list - pronto!!!!!
  =
- ------=_NextPart_000_0011_01C0A378.78F06F80-- - - ------------------------------ Date: Sat, 3 Mar 2001 00:49:17 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Oct 31, 1996 Thanks Dave, it has been a while for both of us. For the most part, for me, it's been enjoyable, even fun, to share with the members. I always liked both teaching and learning with my clients as a stock broker, do so still at work, but this group is far and away the best motivated at sharing, helping, and learning. Tom Worley stkguru@netside.net ICQ # 5568838 - ----- Original Message ----- From: Dave Cameron To: Sent: Friday, March 02, 2001 10:45 PM Subject: [CANSLIM] Oct 31, 1996 The eminent and self-proclaimed thin skinned "stkguru", Mr Tom Worley mentioned that he's been hanging around this board for 4 years. To me, that was an interesting revelation. I went back and checked the Cameron archives, and my first interaction with Tom was on Oct 31, 1996 - this was very close to the first day of this list (which has been revamped). Within that time frame, Tom was absent for a stretch or two for a few months (as part of his thin skin persona). Of course, I've been absent for several months on a couple of occasions due to family matters. Regardless, the point I want to make is that Tom has remained a very helpful and very active poster for the vast majority of the last 4 years and 4 months on this list. While he's been here, he has greeted nearly every newcomer, encouraged nearly everyone with questions and thoughts to share them, and posted more than probably any 3 of us combined with relevant insights. Thanks Tom - I didn't realize how long its been. Dave Cameron dfcameron@yahoo.com __________________________________________________ Do You Yahoo!? Get email at your own domain with Yahoo! Mail. http://personal.mail.yahoo.com/ - - - - ------------------------------ Date: Sat, 3 Mar 2001 01:32:50 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Selling Strategies - Question Hi Brett, First, welcome to the group, and glad you found us. It's one of the best and friendliest places to hang out on the web. I am surprised you did not find a massive amount of material in the archives. The topic of "stops" seems to come up every few months, "buy stops" a little less frequently. If you dig deep enough in the archives, you should find a lot of posts on the topic as it is an item on which most members have an opinion (or different interpretation of what WON meant), and usually each is a little different. I generally don't use hard stops, although I do recommend it to new investors, investors new to CANSLIM, or anyone at any experience level that does not have regular and frequent access to the stock market during the trading day. In volatile "M" times like lately, I recommend it even stronger. Just so you know, I like to exclusively trade small and microcap stocks, which often have a far greater price spread, as well as volatility. That is one reason I normally do not use hard stops, but many stocks I buy are not permitted hard stops by Schwab, still not an uncommon problem with most broker dealers on Naz stocks. It is not unusual for many of the stocks either in my portfolio or on my watch list to be up or down 5% or more in a day. So placing stops would be difficult, it's easier for me to evaluate the situation long after the market is closed and when I cannot do anything impulsively. Over the years (and I have been trying to apply CANSLIM now for well over a decade), it has been my experience that a correct entry point is well protected by an 8% stop loss from the entry point But bear in mind that my interpretation of a "correct entry point" means buying within a few percentage points of a volume driven breakout from a 6-8 week tight base. Thus, at least the ideal is that the 8% downside point will fall just under the bottom of a good base. That way, if the volume driven b/o fails, but it holds the base, it does not stop you out. Because of the large spreads in many of the stocks I follow, I do not only use a closing price. I also look at the high and low of the day and where it closed in comparison. Lately, I am also considering the VWA (Volume Weighted Average price) for the day, which allows me to see where the volume was occurring pricewise. Hope this gives you some fresh ideas to consider, stops work, whether mental or hard. But mental ones are far harder to be disciplined about and much easier to fudge. One key for me is to set a stop price at the time of buying a stock, not weeks later after I am being emotionally influenced by its subsequent trading pattern. And it is very important to never, ever, lower that stop price, only raise it if you picked a winner. Tom Worley stkguru@netside.net ICQ # 5568838 - ----- Original Message ----- From: Brett Roy To: Sent: Friday, March 02, 2001 5:03 PM Subject: [CANSLIM] Selling Strategies - Question Glad I found this group ... checked the archives and did not stumble accross any relevant messages but if I did, please advise! My question is on sell stops (8%) that are recommended by O'Neil. His book does not recommend stop orders so how do you handle these, just by keeping an 'eye' on the stock? For example if I buy at 100 and the stock after a few weeks gets to 93 I am close to my stop point. What happens if it starts the next day at 93, gets down to 90, then closes the day at 93 again. Should there have been a sell there? How about is starts at 93 gets down to 91 at the close, then I notice it is below, then it opens at 93 the next AM? Newbie asking for advice! Thanks, Brett - -- Brett Roy brettr@vistacreek.com - -------------- "Don't stare at me, Eddie. I'm a humane man, but right now I could kick a kitten through an electric fan." - -- -- Frasier addressing his father's dog after having a bad day - -- - - - - ------------------------------ Date: Sat, 3 Mar 2001 00:03:38 -0800 From: "Bob Gibson" Subject: Re: [CANSLIM] Oct 31, 1996 Hear, hear! - ----- Original Message ----- From: "Dave Cameron" To: Sent: Friday, March 02, 2001 7:45 PM Subject: [CANSLIM] Oct 31, 1996 > The eminent and self-proclaimed thin skinned "stkguru", Mr > Tom Worley mentioned that he's been hanging around this > board for 4 years. To me, that was an interesting > revelation. I went back and checked the Cameron archives, > and my first interaction with Tom was on Oct 31, 1996 - > this was very close to the first day of this list (which > has been revamped). Within that time frame, Tom was > absent for a stretch or two for a few months (as part of > his thin skin persona). Of course, I've been absent for > several months on a couple of occasions due to family > matters. > > Regardless, the point I want to make is that Tom has > remained a very helpful and very active poster for the vast > majority of the last 4 years and 4 months on this list. > While he's been here, he has greeted nearly every newcomer, > encouraged nearly everyone with questions and thoughts to > share them, and posted more than probably any 3 of us > combined with relevant insights. > > Thanks Tom - I didn't realize how long its been. > > Dave Cameron > dfcameron@yahoo.com > > > __________________________________________________ > Do You Yahoo!? > Get email at your own domain with Yahoo! Mail. > http://personal.mail.yahoo.com/ > > - > > - - ------------------------------ Date: Sat, 3 Mar 2001 10:06:00 -0500 From: "Rick Parsons" Subject: RE: [CANSLIM] OFF LIST(Mutual Fund Answer) Walt, You make perfect sense and I agree with you. Guess I just read the words differently than you intended. Thanks, Rick - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of walter nusbaum Sent: Friday, March 02, 2001 7:38 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] OFF LIST(Mutual Fund Answer) - ----- Original Message ----- From: "Rick Parsons" To: Sent: Friday, March 02, 2001 5:04 PM Subject: RE: [CANSLIM] OFF LIST(Mutual Fund Answer) > Walt, > I guess we all have our own terminology and use words in different ways. > The way I look at it, CANSLIM does not time the market, the market tells > CANSLIM there are fewer and fewer CANSLIM type stocks available and thus > CANSLIMers are forced to cash. Correct me here if I am wrong. > > My definition of optimization is that there is much backtesting going on to > determine which value of a parameter will return the highest percentage gain > with the least drawdown. I don't recall backtesting as part of CANSLIM. > > Rick Rick, It could be a matter of interpretation, but WON says, "You can be right on every one of the factors in the first six chapters(CANSLI); however if you're wrong about the direction(M) of the broad general market, three out of four of your stocks will slump with the market, and you will lose money.........Therefore, it is essential to try to preserve as much of the profit you have built up as possible, rather than to ride most investments up and down through difficult cycles like many people do......You will usually be better off staying on the sidelines in cash and avoiding short-term counterfeit rallies during the first few legs of a bear market". I dunno, but that says to me, "Everybody out of the pool". I didn't mention backtesting, but I'm certainly guilty of it. The dictionary definition of optimize is: "to make as perfect, effective, or functional as possible". That's what were doing when we lighten up, get off margin, sell weaker holdings, etc., in the face of a market decline. Thanks for your note. Best wishes, Walt > Bill, > Timing the market is essential to the optimization of CANLSIM, and I would > suggest that applies to mutual funds as well. The most recent problem with > the markets (for me) have been a couple of head fakes that I went for. I'm a > little gun shy, but still believe that it is necessary to follow WON's > system. > > As for beating the S&P, there are a number of funds that trounce the index. > I'll list a few later, but first here are some buy and hold(B&H) numbers > that may be of interest: > > Deutsche Bank Alex. Brown Sector Track Record(01/03/01) > www.yardeni.com/public/track.pdf > > Cumulative returns from 1992-2000(Top Three Sectors) > S&P 500; 217% > Health Care; 258% > Financials; 383% > Technology; 548% > > Returns for 2000 > S&P 500; -10.5% > Health Care; +31% > Financials; +14% > Technology; -33% > > It's not rocket science to be able to determine where money should be placed > to realize the greatest gains, if you believe that these historical returns > will hold for the future. However, instead of B&H, why not try to catch the > rising sectors(not just these three), while shedding the laggards? That's > what Bill Donohue does for the 62 Fidelity funds that he tracks and in 1999, > he claimed a 51.6% return for the previous three years. > > Bill uses a system that was first devised by Mark Pankin. www.pankin.com > I use a modified Pankin system in that instead of only Fidelity Selects, > I've included 5,000 funds winnowed down to about 30. If you are interested > in the Pankin System, I have his "proprietary" numbers that are in the > public domain, since they have been posted on several web sites in the past. > If you wish, I will pass them on to you. > > Some funds that I have held in the past: > Five Year Annualized Return > DRGTX; 36.4% > TVFQX; 31.6% > FSLBX; 29.4% > FSELX; 28.2% > > Funds with a three year record: > BFOCX: '98; +104%, '99; +143%; '00; -16%; YTD; -43% > UOPIX: '98; +185%, '99; + 233%; '00; -74%; YTD; -36% > > It would seem from the two funds above that a modicum of timing would have > produced adequate results. > Best wishes, > Walt > > > > > > > - > > > - > - - - - ------------------------------ Date: Sat, 3 Mar 2001 10:10:31 -0500 From: "Rick Parsons" Subject: RE: [CANSLIM] Mutual Funds - Cut Your Losses Yes, I would own about 3 mutual funds. If M got shaky, I would go to 100% cash. No doubt I got whipsawed a few times but on the bright side, I went 100% cash on March 15, 2000. :) I use Fasttrack and FTools, a mutual fund ranking and charting system. Rick - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Eric Shen Sent: Friday, March 02, 2001 7:28 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Mutual Funds - Cut Your Losses Rick, Do you mean that you move your entire portfolio in/out of a mutual fund? No wonder they hate people like you. :-) Eric Rick Parsons wrote: > > The mutual fund industry does hate traders. I know since I have been an > aggressive mutual fund trader doing more than 15 trades a year. I am with > Fidelity and their policy is if you do more than 15 trades a year, then they > charge me commissions on NTF (no transaction fee) funds. The commissions > are $75 each way regardless of trade size. If one has a large portfolio, > $75 is a small percentage. (.00075 of a $100,000 portfolio). So it is a > very small price to pay to avoid losses. > > Rick > > - - -- Eric Shen MS LOC3-8 Intel Corporation email: eshen@level1.com 9750 Goethe Road Tel: (916) 855 5177 x4497 Sacramento, CA 95827 - - - - ------------------------------ Date: Sat, 3 Mar 2001 10:14:58 -0500 From: "Rick Parsons" Subject: RE: [CANSLIM] Oct 31, 1996 I'm new to this list but right off the bat I could tell it's Tom who holds this place together! Keep on keeping on, Tom!! And Thank You !! Rick - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Dave Cameron Sent: Friday, March 02, 2001 10:45 PM To: canslim@lists.xmission.com Subject: [CANSLIM] Oct 31, 1996 The eminent and self-proclaimed thin skinned "stkguru", Mr Tom Worley mentioned that he's been hanging around this board for 4 years. To me, that was an interesting revelation. I went back and checked the Cameron archives, and my first interaction with Tom was on Oct 31, 1996 - this was very close to the first day of this list (which has been revamped). Within that time frame, Tom was absent for a stretch or two for a few months (as part of his thin skin persona). Of course, I've been absent for several months on a couple of occasions due to family matters. Regardless, the point I want to make is that Tom has remained a very helpful and very active poster for the vast majority of the last 4 years and 4 months on this list. While he's been here, he has greeted nearly every newcomer, encouraged nearly everyone with questions and thoughts to share them, and posted more than probably any 3 of us combined with relevant insights. Thanks Tom - I didn't realize how long its been. Dave Cameron dfcameron@yahoo.com __________________________________________________ Do You Yahoo!? Get email at your own domain with Yahoo! Mail. http://personal.mail.yahoo.com/ - - - - ------------------------------ Date: Sat, 3 Mar 2001 08:00:03 -0700 From: owner-canslim@xmission.com (Jeff Salisbury) Subject: [CANSLIM] Accessing the discussion canslim archives... >From time to time, CANSLIM members may wish to browse the discussion archives. This posting provides instructions on how to access the archives. Thanks to David Cameron for compiling the essentials of this message. Here are the two ways to access the archives: 1. The best way is to use your web browser. To browse the archives, point your browser to: http://www.xmission.com/~mcjathan/cgi/lwgate.cgi/CANSLIM/ You can do simple key-word searches on the archive by going to: http://www.xmission.com/~mcjathan/canslim/search.html 2. (Not as convenient) via email: Send an email to majordomo@xmission.com with the following as the body of your message: "index canslim". Then send a follow up email to request an old email from either the "archive" or "latest" directory. Note that your request must be in the body of your email. For example: "get canslim latest/001" will retrieve file "001" from the "latest" directory. "get canslim archive/v01.n066" will retrieve file "v01.n066" from the "archive" dir. Best Regards, Jeff Salisbury - CANSLIM list owner/admin - - ------------------------------ Date: Sat, 3 Mar 2001 10:22:30 -0500 From: "Rick Parsons" Subject: RE: [CANSLIM] Selling Strategies - Question Tom, This is the first time I have heard of a "VWA (Volume Weighted Average price)". How do you find or calculate this? Rick - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley Sent: Saturday, March 03, 2001 1:33 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Selling Strategies - Question Hi Brett, First, welcome to the group, and glad you found us. It's one of the best and friendliest places to hang out on the web. I am surprised you did not find a massive amount of material in the archives. The topic of "stops" seems to come up every few months, "buy stops" a little less frequently. If you dig deep enough in the archives, you should find a lot of posts on the topic as it is an item on which most members have an opinion (or different interpretation of what WON meant), and usually each is a little different. I generally don't use hard stops, although I do recommend it to new investors, investors new to CANSLIM, or anyone at any experience level that does not have regular and frequent access to the stock market during the trading day. In volatile "M" times like lately, I recommend it even stronger. Just so you know, I like to exclusively trade small and microcap stocks, which often have a far greater price spread, as well as volatility. That is one reason I normally do not use hard stops, but many stocks I buy are not permitted hard stops by Schwab, still not an uncommon problem with most broker dealers on Naz stocks. It is not unusual for many of the stocks either in my portfolio or on my watch list to be up or down 5% or more in a day. So placing stops would be difficult, it's easier for me to evaluate the situation long after the market is closed and when I cannot do anything impulsively. Over the years (and I have been trying to apply CANSLIM now for well over a decade), it has been my experience that a correct entry point is well protected by an 8% stop loss from the entry point But bear in mind that my interpretation of a "correct entry point" means buying within a few percentage points of a volume driven breakout from a 6-8 week tight base. Thus, at least the ideal is that the 8% downside point will fall just under the bottom of a good base. That way, if the volume driven b/o fails, but it holds the base, it does not stop you out. Because of the large spreads in many of the stocks I follow, I do not only use a closing price. I also look at the high and low of the day and where it closed in comparison. Lately, I am also considering the VWA (Volume Weighted Average price) for the day, which allows me to see where the volume was occurring pricewise. Hope this gives you some fresh ideas to consider, stops work, whether mental or hard. But mental ones are far harder to be disciplined about and much easier to fudge. One key for me is to set a stop price at the time of buying a stock, not weeks later after I am being emotionally influenced by its subsequent trading pattern. And it is very important to never, ever, lower that stop price, only raise it if you picked a winner. Tom Worley stkguru@netside.net ICQ # 5568838 - ----- Original Message ----- From: Brett Roy To: Sent: Friday, March 02, 2001 5:03 PM Subject: [CANSLIM] Selling Strategies - Question Glad I found this group ... checked the archives and did not stumble accross any relevant messages but if I did, please advise! My question is on sell stops (8%) that are recommended by O'Neil. His book does not recommend stop orders so how do you handle these, just by keeping an 'eye' on the stock? For example if I buy at 100 and the stock after a few weeks gets to 93 I am close to my stop point. What happens if it starts the next day at 93, gets down to 90, then closes the day at 93 again. Should there have been a sell there? How about is starts at 93 gets down to 91 at the close, then I notice it is below, then it opens at 93 the next AM? Newbie asking for advice! Thanks, Brett - -- Brett Roy brettr@vistacreek.com - -------------- "Don't stare at me, Eddie. I'm a humane man, but right now I could kick a kitten through an electric fan." - -- -- Frasier addressing his father's dog after having a bad day - -- - - - - - - ------------------------------ Date: Sat, 3 Mar 2001 10:58:51 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Oct 31, 1996 Thanks Rick, but I give the credit to the group. After over four years, it is still amazing to me that over 600 strangers can be brought together in such a faceless gathering, and still usually remain civil and helpful. I genuinely believe this board is unique on the net. I doubt we could do as well in person, even if we were already friends. The thanks really should go to Jeff Salisbury, who provides us this forum out of the goodness of his heart. He is the one who deserves the credit, and I don't even want to imagine the hours he spends every week maintaining this list, not to mention the personal expenses. Tom Worley stkguru@netside.net ICQ # 5568838 - ----- Original Message ----- From: Rick Parsons To: Sent: Saturday, March 03, 2001 10:14 AM Subject: RE: [CANSLIM] Oct 31, 1996 I'm new to this list but right off the bat I could tell it's Tom who holds this place together! Keep on keeping on, Tom!! And Thank You !! Rick - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Dave Cameron Sent: Friday, March 02, 2001 10:45 PM To: canslim@lists.xmission.com Subject: [CANSLIM] Oct 31, 1996 The eminent and self-proclaimed thin skinned "stkguru", Mr Tom Worley mentioned that he's been hanging around this board for 4 years. To me, that was an interesting revelation. I went back and checked the Cameron archives, and my first interaction with Tom was on Oct 31, 1996 - this was very close to the first day of this list (which has been revamped). Within that time frame, Tom was absent for a stretch or two for a few months (as part of his thin skin persona). Of course, I've been absent for several months on a couple of occasions due to family matters. Regardless, the point I want to make is that Tom has remained a very helpful and very active poster for the vast majority of the last 4 years and 4 months on this list. While he's been here, he has greeted nearly every newcomer, encouraged nearly everyone with questions and thoughts to share them, and posted more than probably any 3 of us combined with relevant insights. Thanks Tom - I didn't realize how long its been. Dave Cameron dfcameron@yahoo.com __________________________________________________ Do You Yahoo!? Get email at your own domain with Yahoo! 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