From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #1463 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 Friday, June 8 2001 Volume 02 : Number 1463 In this issue: [CANSLIM] ACF Re: [CANSLIM] Weekly Scan Re: [CANSLIM] real-time Re: [CANSLIM] ACF Re: [CANSLIM] Weekly Scan Re: [CANSLIM] FDS, turn out the lights... Re: [CANSLIM] 7-8% stops Re: [CANSLIM] 7-8% stops Re: [CANSLIM] FDS, turn out the lights... ---------------------------------------------------------------------- Date: Fri, 8 Jun 2001 19:23:08 -0500 From: "Norman" Subject: [CANSLIM] ACF Is this an example of the 'high tight flag' so often discussed (minus the 100-120% gain of course)? Norm - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 19:32:51 -0500 From: "Norman" Subject: Re: [CANSLIM] Weekly Scan Through no fault of Tim, I had trouble 'pivoting' the table with his instructions. I attribute this to my own inability's. So, for you folks that suffer from the same malady I will include the instructions I was able to pivot with. It may not be the Microsoft way but it worked for me. - -open up the scan file into excel (mine is Office 97), - -add a row at the top and put 'stock' in the A1 and leave cursor there, - -the go Data->Pivot table, - -the default selection will be the top 1 of 4, click Next, - -if you left your cursor in A1 then Excel has already selected your data range as col A, click Next, - -you will now be in the Pivot Table Construction box. Drag the button labeled 'stock', located on the right side, to the 'data' box. Now also drag it to the 'row' box. 'stock' should now be in both the 'data' and 'row' boxes, - -double L click the 'row-stock' button, - -L click the 'advanced' button, - -select 'descending' - -drop the 'drop down' menu at the bottom and select 'count of stock', - -click OK, then click OK again. - -you are now back in the Pivot Table Construction box, click Next, - -click Finish and your pivot table will appear in a new worksheet in the same workbook. You can keep a workbook of all David's scans by copying each one onto a new worksheet in this same workbook. Thanks for the scans David. And thanks for the pivot table idea Tim. Norm - ----- Original Message ----- From: "David Squires" To: Sent: Friday, June 08, 2001 3:05 PM Subject: [CANSLIM] Weekly Scan > This week I added Tim's very useful pivot table instructions to the > spreadsheet. > > DSquires > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 19:29:21 EDT From: BIKEAR@aol.com Subject: Re: [CANSLIM] real-time - --part1_e0.15db4efe.2852b9d1_boundary Content-Type: text/plain; charset="US-ASCII" Content-Transfer-Encoding: 7bit I do have it and I did pay for it but I signed up for an account about 6 months ago...I like it but it does not have all the stocks that I want to follow...I looked to day at the quote.com..I did think that it was the real on time thing but I guess not...jan - --part1_e0.15db4efe.2852b9d1_boundary Content-Type: text/html; charset="US-ASCII" Content-Transfer-Encoding: 7bit I do have it and I did pay for it but I signed up for an account about 6
months ago...I like it but it does not have all the stocks that I want to
follow...I looked to day at the quote.com..I did think that it was the real
on time thing but I guess not...jan - --part1_e0.15db4efe.2852b9d1_boundary-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 21:36:16 -0400 From: "Ann Hollingworth" Subject: Re: [CANSLIM] ACF I don't know. I'm not up on the htf. - ----- Original Message ----- From: "Norman" To: Sent: Friday, June 08, 2001 8:23 PM Subject: [CANSLIM] ACF > Is this an example of the 'high tight flag' so often discussed (minus the > 100-120% gain of course)? > > Norm > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 21:18:36 -0500 From: "David Squires" Subject: Re: [CANSLIM] Weekly Scan Sorry to the narrow band people out there. It appears I mixed up some HTML into this week's scan. It was probably a long download. DSquires - ----- Original Message ----- From: "David Squires" To: Sent: Friday, June 08, 2001 3:05 PM Subject: [CANSLIM] Weekly Scan > This week I added Tim's very useful pivot table instructions to the > spreadsheet. > > DSquires > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 22:23:30 -0400 From: "Dan Forant" Subject: Re: [CANSLIM] FDS, turn out the lights... or depending when you got in, you could have taken profits when they were there. This market has been too obvious for these big pull backs. DanF - ----- Original Message ----- From: "Bill Triffet" To: "canslim" Sent: Friday, June 08, 2001 12:39 PM Subject: [CANSLIM] FDS, turn out the lights... > Guess we're done with FDS now. I have learned my lesson of this market - > Hard Stops - no ifs, ands, or buts.. > > -Bill Triffet > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 22:36:13 -0400 From: "Dan Forant" Subject: Re: [CANSLIM] 7-8% stops Is that in a bull market? I particularly don't like set % figures to work with. Out of my last 8 stock purchases, 7 made me $$. All except 1 were sold the day purchased. The 1 loser is down $80, only because I misread a chart awfully. Not Greedy DanF - ----- Original Message ----- From: "David Squires" To: Sent: Friday, June 08, 2001 6:59 PM Subject: Re: [CANSLIM] 7-8% stops > Hilarious. This must be a joke! WON has a 30% success rate. Time to blow > this list up! What kind of "staffers" were you talking too? > > DSquires > > ----- Original Message ----- > From: "Tom Worley" > To: > Sent: Friday, June 08, 2001 5:45 PM > Subject: Re: [CANSLIM] 7-8% stops > > > > It mostly came from the training I got from WON staffers in > > explaining the reasons for an 8% stop loss and for selling for a > > 20% profit (7 wrong stocks times 8% = 56% while 3 right stocks > > times 20% = 60%). > > > > I think WON also mentioned it in the article from Reg. Rep. > > magazine that I still haven't found. > > > > Tom Worley > > stkguru@netside.net > > AIM: TexWorley > > > > ----- Original Message ----- > > From: esetser > > To: > > Sent: Friday, June 08, 2001 6:32 PM > > Subject: Re: [CANSLIM] 7-8% stops > > > > > > Where did you get the idea that WON's success rate was .300?? I > > did see > > one note in HTMMIS talking about buying during a weak market, and > > how the > > tight sell points helped him make money with only a .333 success > > rate. I > > think this is to illustrate a point (and even then, in a bad > > market where > > he shouldn't have been investing), rather than to define his > > overall > > success rate!! > > > > At 09:15 AM 6/8/01 -0400, you wrote: > > >I wouldn't count on it increasing your probability of being > > right > > >to over .300, since presumably WON was buying at the pivot, and > > >that was his success rate. > > > > > >I do agree that if you are unable to buy at the pivot point, you > > >may have to increase the size of your stop loss if you are to > > >place it correctly. I have said that before. Personally, I don't > > >like increasing it, which is why I prefer to increase my risk by > > >buying in the base, then chancing that it doesn't break out, or > > >breaks down. > > > > > >That at least gives me the chance to bail out while still in the > > >base if it begins to look like it will never b/o. It's not > > >something that I recommend for most, as it violates quite a few > > >rules. > > > > > >Tom Worley > > >stkguru@netside.net > > >AIM: TexWorley > > > > > >----- Original Message ----- > > >From: Tracie Oken > > >To: > > >Sent: Friday, June 08, 2001 8:51 AM > > >Subject: Re: [CANSLIM] 7-8% stops > > > > > > > > >The 7-8% rule came about because they found that great stocks > > >rarely dropped > > >7-8% "below the pivot". (Not because they think 7-8% is a > > >reasonable amount > > >to risk.) Therefore, you could buy a stock at 5% above its pivot > > >and get > > >stopped out at 2% below but that would still be considered a > > >normal pullback > > >(and if you were lucky enough to buy right at the pivot you > > would > > >not be > > >stopped out). The problem is (as has been mentioned here before) > > >that it is > > >almost impossible for the average investor to buy a stock right > > >at the > > >pivot. It makes the case that you should set your stop at 7-8% > > >below the > > >pivot even though your buy point may create a larger loss then > > >7-8%. If you > > >still keep to the rule of not buying beyond 5% on the upside > > this > > >should > > >give you a maximum loss of approximately 12%. Yes, Tom, this > > will > > >increase > > >your dollar losses on each stock but it should also increase > > your > > >percentage > > >of winning picks to greater than .300. > > > > > >----- Original Message ----- > > >From: "Dave Cameron" > > >To: > > >Sent: Tuesday, June 05, 2001 8:51 PM > > >Subject: [CANSLIM] 7-8% stops > > > > > > > > >> A few people have mentioned the hard 7-8% stop as insurance > > >against > > >> taking a big loss. > > >> > > >> You know, I never use it. Its not that I don't set a stop - > > >but I > > >> do it based on the chart - not on a percentage. As an > > >example, > > >> suppose a stock has been basing between 25 and 30 for several > > >months, > > >> then breaks out to 33 on high volume. If I bought at 33 > > >(which is > > >> higher than WON says to buy - but for those of us who can't > > >trade > > >> real-time...) my stop point would be 29.90 (I can't get used > > to > > >> decimals yet). Because this would put it back in the base. > > >All > > >> right, its a 10% stop - but its common for a stock like this > > to > > >drop > > >> 8-9% to say, 30.25 and then bounce back up. Of course, if > > I > > >were > > >> fortunate enough to buy the same stock at 30.5, I'd still have > > >a stop > > >> at 29.90, and then have a 1-2% stop. The percentage isn't > > >relevant > > >> - the placement relative to the chart action is. > > >> > > >> Anyone else have any thoughts? > > >> > > >> > > >> ===== > > >> Dave Cameron > > >> dfcameron@yahoo.com > > >> > > >> __________________________________________________ > > >> Do You Yahoo!? > > >> Get personalized email addresses from Yahoo! Mail - only $35 > > >> a year! http://personal.mail.yahoo.com/ > > >> > > >> - > > >> -To subscribe/unsubscribe, email "majordomo@xmission.com" > > >> -In the email body, write "subscribe canslim" or > > >> -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > >- > > >-To subscribe/unsubscribe, email "majordomo@xmission.com" > > >-In the email body, write "subscribe canslim" or > > >-"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > > > >- > > >-To subscribe/unsubscribe, email "majordomo@xmission.com" > > >-In the email body, write "subscribe canslim" or > > >-"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 19:58:52 -0700 From: "Jay Oken" Subject: Re: [CANSLIM] 7-8% stops This is a multi-part message in MIME format. - ------=_NextPart_000_043F_01C0F055.70EF6F00 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable I think we are understating the anticipated success rate. I own and = listen often to "How and When to Buy Stocks" and "How and When to Sell = Stocks". Here is what the Buy Stocks tape has to say: Question: How often can you reasonably expect to be right when picking = stocks since we don't want to have people's = expectations be too high? David Ryan's Answer: "If you're buying the right stock, with the CANSLIM = characteristics, and your buying it at exactly the right time, when it's = coming out of a perfect base, you should be correct maybe 80% of the = time. But that's a little unrealistic because we get emotions involved = and all stocks don't set up perfectly, so I would say about 60-70% of = your transactions should be correct. The whole key is when your wrong to = keep those losses very small. You can make a lot of money being right = just 50% of the time as long as you learn to cut your losses quickly." These tapes are put out by IBD. They are great listening for your = commute and I listen to them often to reinforce The WON/CANSLIM = principals. P.S. They recommend a couple of books at the end of each tape. The = Nicolas Darvas book, How I Made Two Million Dollars in the Stock Market = is worth reading but the Stock Operator book by Lefve is a waste of = time. - ----- Original Message -----=20 From: "Tom Worley" To: Sent: Friday, June 08, 2001 4:22 PM Subject: Re: [CANSLIM] 7-8% stops > If you are doing worse than a 30% rate, then it's time to recheck > what you are doing. >=20 > Remember that a 30% rate should not mean that you are barely > breaking even. It is based on every one of your 7 wrong stocks > being stopped out at 7-8%. In reality, you should have gotten out > of some with a much smaller loss, and maybe even a tiny profit on > a few. >=20 > And if you held on to the 3 right ones past 20%, then your > profits may have also been far greater. >=20 > Tom Worley > stkguru@netside.net > AIM: TexWorley >=20 > ----- Original Message ----- > From: esetser > To: > Sent: Friday, June 08, 2001 7:09 PM > Subject: Re: [CANSLIM] 7-8% stops >=20 >=20 > So the 30% success rate should get you roughly even? I guess > that would > make it an absolute minimum. Looking back, this difficult market > and some > bad decisions have reduced my success rate from around 50% > mid-last year to > about 30% now. That period has caused me to lose about 10% of my > funds, > but that level seems to be holding at this point. >=20 > Overall, I guess I agree with some others that this rally is > becoming more > suspect, and we should all be careful at this point. >=20 > At 06:45 PM 6/8/01 -0400, you wrote: > >It mostly came from the training I got from WON staffers in > >explaining the reasons for an 8% stop loss and for selling for a > >20% profit (7 wrong stocks times 8% =3D 56% while 3 right stocks > >times 20% =3D 60%). > > > >I think WON also mentioned it in the article from Reg. Rep. > >magazine that I still haven't found. > > > >Tom Worley > >stkguru@netside.net > >AIM: TexWorley > > > >----- Original Message ----- > >From: esetser > >To: > >Sent: Friday, June 08, 2001 6:32 PM > >Subject: Re: [CANSLIM] 7-8% stops > > > > > >Where did you get the idea that WON's success rate was .300?? I > >did see > >one note in HTMMIS talking about buying during a weak market, > and > >how the > >tight sell points helped him make money with only a .333 success > >rate. I > >think this is to illustrate a point (and even then, in a bad > >market where > >he shouldn't have been investing), rather than to define his > >overall > >success rate!! > > > > At 09:15 AM 6/8/01 -0400, you wrote: > >>I wouldn't count on it increasing your probability of being > >right > >>to over .300, since presumably WON was buying at the pivot, and > >>that was his success rate. > >> > >>I do agree that if you are unable to buy at the pivot point, > you > >>may have to increase the size of your stop loss if you are to > >>place it correctly. I have said that before. Personally, I > don't > >>like increasing it, which is why I prefer to increase my risk > by > >>buying in the base, then chancing that it doesn't break out, or > >>breaks down. > >> > >>That at least gives me the chance to bail out while still in > the > >>base if it begins to look like it will never b/o. It's not > >>something that I recommend for most, as it violates quite a few > >>rules. > >> > >>Tom Worley > >>stkguru@netside.net > >>AIM: TexWorley > >> > >>----- Original Message ----- > >>From: Tracie Oken > >>To: > >>Sent: Friday, June 08, 2001 8:51 AM > >>Subject: Re: [CANSLIM] 7-8% stops > >> > >> > >>The 7-8% rule came about because they found that great stocks > >>rarely dropped > >>7-8% "below the pivot". (Not because they think 7-8% is a > >>reasonable amount > >>to risk.) Therefore, you could buy a stock at 5% above its > pivot > >>and get > >>stopped out at 2% below but that would still be considered a > >>normal pullback > >>(and if you were lucky enough to buy right at the pivot you > >would > >>not be > >>stopped out). The problem is (as has been mentioned here > before) > >>that it is > >>almost impossible for the average investor to buy a stock right > >>at the > >>pivot. It makes the case that you should set your stop at 7-8% > >>below the > >>pivot even though your buy point may create a larger loss then > >>7-8%. If you > >>still keep to the rule of not buying beyond 5% on the upside > >this > >>should > >>give you a maximum loss of approximately 12%. Yes, Tom, this > >will > >>increase > >>your dollar losses on each stock but it should also increase > >your > >>percentage > >>of winning picks to greater than .300. > >> > >>----- Original Message ----- > >>From: "Dave Cameron" > >>To: > >>Sent: Tuesday, June 05, 2001 8:51 PM > >>Subject: [CANSLIM] 7-8% stops > >> > >> > >>> A few people have mentioned the hard 7-8% stop as insurance > >>against > >>> taking a big loss. > >>> > >>> You know, I never use it. Its not that I don't set a stop - > >>but I > >>> do it based on the chart - not on a percentage. As an > >>example, > >>> suppose a stock has been basing between 25 and 30 for several > >>months, > >>> then breaks out to 33 on high volume. If I bought at 33 > >>(which is > >>> higher than WON says to buy - but for those of us who can't > >>trade > >>> real-time...) my stop point would be 29.90 (I can't get used > >to > >>> decimals yet). Because this would put it back in the base. > >>All > >>> right, its a 10% stop - but its common for a stock like this > >to > >>drop > >>> 8-9% to say, 30.25 and then bounce back up. Of course, if > >I > >>were > >>> fortunate enough to buy the same stock at 30.5, I'd still > have > >>a stop > >>> at 29.90, and then have a 1-2% stop. The percentage isn't > >>relevant > >>> - the placement relative to the chart action is. > >>> > >>> Anyone else have any thoughts? > >>> > >>> > >>> =3D=3D=3D=3D=3D > >>> Dave Cameron > >>> dfcameron@yahoo.com > >>> > >>> __________________________________________________ > >>> Do You Yahoo!? > >>> Get personalized email addresses from Yahoo! Mail - only $35 > >>> a year! http://personal.mail.yahoo.com/ > >>> > >>> - > >>> -To subscribe/unsubscribe, email "majordomo@xmission.com" > >>> -In the email body, write "subscribe canslim" or > >>> -"unsubscribe canslim". Do not use quotes in your email. > >> > >> > >>- > >>-To subscribe/unsubscribe, email "majordomo@xmission.com" > >>-In the email body, write "subscribe canslim" or > >>-"unsubscribe canslim". Do not use quotes in your email. > >> > >> > >> > >>- > >>-To subscribe/unsubscribe, email "majordomo@xmission.com" > >>-In the email body, write "subscribe canslim" or > >>-"unsubscribe canslim". Do not use quotes in your email. > >> > >> > > > >- > >-To subscribe/unsubscribe, email "majordomo@xmission.com" > >-In the email body, write "subscribe canslim" or > >-"unsubscribe canslim". Do not use quotes in your email. > > > > > > > >- > >-To subscribe/unsubscribe, email "majordomo@xmission.com" > >-In the email body, write "subscribe canslim" or > >-"unsubscribe canslim". Do not use quotes in your email. > > > > >=20 > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. >=20 >=20 >=20 > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - ------=_NextPart_000_043F_01C0F055.70EF6F00 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable

I think we are understating the = anticipated=20 success rate. I own and listen often to "How and When to Buy Stocks" and = "How=20 and When to Sell Stocks". Here is what the Buy Stocks tape has to=20 say:

Question: How often can you=20 reasonably expect to be right when picking = stocks=20 since we don't want to have people's = =20 = =20 expectations be too high?

David Ryan's Answer: "If you're buying = the right=20 stock, with the CANSLIM characteristics, and your buying it at exactly = the right=20 time, when it's coming out of a perfect base, you should be correct = maybe 80% of=20 the time. But that's a little unrealistic because we get emotions = involved and=20 all stocks don't set up perfectly, so I would say about 60-70% of your=20 transactions should be correct. The whole key is when your wrong to keep = those=20 losses very small. You can make a lot of money being right just 50% of = the time=20 as long as you learn to cut your losses quickly."

These tapes are put out by IBD. They = are great=20 listening for your commute and I listen to them often to=20 reinforce The WON/CANSLIM principals.

P.S. They recommend a couple of books = at the end of=20 each tape. The Nicolas Darvas book, How I Made Two Million Dollars in = the Stock=20 Market is worth reading but the Stock Operator book by Lefve is a waste = of=20 time.

----- Original Message -----

From: "Tom Worley" <stkguru@netside.net>

To: <canslim@lists.xmission.com>

Sent: Friday, June 08, 2001 4:22 = PM

Subject: Re: [CANSLIM] 7-8%=20 stops

> If you are doing worse than a 30% rate, then it's time to=20 recheck
> what you are doing.
>
> Remember that a 30% = rate=20 should not mean that you are barely
> breaking even. It is based = on every=20 one of your 7 wrong stocks
> being stopped out at 7-8%. In = reality, you=20 should have gotten out
> of some with a much smaller loss, and = maybe even=20 a tiny profit on
> a few.
>
> And if you held on to = the 3=20 right ones past 20%, then your
> profits may have also been far=20 greater.
>
> Tom Worley
> stkguru@netside.net
> AIM:=20 TexWorley
>
> ----- Original Message -----
> From: = esetser=20 <esetser@covad.net>
> To:=20 <canslim@lists.xmission.com>
>=20 Sent: Friday, June 08, 2001 7:09 PM
> Subject: Re: [CANSLIM] 7-8%=20 stops
>
>
> So the 30% success rate should get you = roughly=20 even? I guess
> that would
> make it an absolute=20 minimum. Looking back, this difficult market
> and = some
> bad=20 decisions have reduced my success rate from around 50%
> mid-last = year=20 to
> about 30% now. That period has caused me to lose about = 10% of=20 my
> funds,
> but that level seems to be holding at this=20 point.
>
> Overall, I guess I agree with some others that = this=20 rally is
> becoming more
> suspect, and we should all be = careful at=20 this point.
>
> At 06:45 PM 6/8/01 -0400, you = wrote:
> >It=20 mostly came from the training I got from WON staffers in
> = >explaining=20 the reasons for an 8% stop loss and for selling for a
> >20% = profit (7=20 wrong stocks times 8% =3D 56% while 3 right stocks
> >times 20% = =3D=20 60%).
> >
> >I think WON also mentioned it in the = article from=20 Reg. Rep.
> >magazine that I still haven't found.
> = >
>=20 >Tom Worley
> >stkguru@netside.net
> >AIM:=20 TexWorley
> >
> >----- Original Message -----
>=20 >From: esetser <esetser@covad.net>
> >To:=20 <canslim@lists.xmission.com>
>=20 >Sent: Friday, June 08, 2001 6:32 PM
> >Subject: Re: = [CANSLIM] 7-8%=20 stops
> >
> >
> >Where did you get the idea = that=20 WON's success rate was .300?? I
> >did see
> = >one note=20 in HTMMIS talking about buying during a weak market,
> and
> = >how=20 the
> >tight sell points helped him make money with only a .333 = success
> >rate. I
> >think this is to = illustrate a=20 point (and even then, in a bad
> >market where
> >he = shouldn't=20 have been investing), rather than to define his
> = >overall
>=20 >success rate!!
> >
> > At 09:15 AM 6/8/01 -0400, = you=20 wrote:
> >>I wouldn't count on it increasing your = probability of=20 being
> >right
> >>to over .300, since presumably = WON was=20 buying at the pivot, and
> >>that was his success = rate.
>=20 >>
> >>I do agree that if you are unable to buy at the = pivot=20 point,
> you
> >>may have to increase the size of your = stop=20 loss if you are to
> >>place it correctly. I have said that = before.=20 Personally, I
> don't
> >>like increasing it, which is = why I=20 prefer to increase my risk
> by
> >>buying in the = base, then=20 chancing that it doesn't break out, or
> >>breaks = down.
>=20 >>
> >>That at least gives me the chance to bail out = while=20 still in
> the
> >>base if it begins to look like it = will=20 never b/o. It's not
> >>something that I recommend for most, = as it=20 violates quite a few
> >>rules.
> >>
> = >>Tom=20 Worley
> >>stkguru@netside.net
> >>AIM:=20 TexWorley
> >>
> >>----- Original Message = - -----
>=20 >>From: Tracie Oken <imtoken@yahoo.com>
> >>To: <canslim@lists.xmission.com>
>=20 >>Sent: Friday, June 08, 2001 8:51 AM
> >>Subject: Re: = [CANSLIM] 7-8% stops
> >>
> >>
> = >>The 7-8%=20 rule came about because they found that great stocks
> = >>rarely=20 dropped
> >>7-8% "below the pivot". (Not because they think = 7-8% is=20 a
> >>reasonable amount
> >>to risk.) Therefore, = you=20 could buy a stock at 5% above its
> pivot
> >>and = get
>=20 >>stopped out at 2% below but that would still be considered = a
>=20 >>normal pullback
> >>(and if you were lucky enough to = buy=20 right at the pivot you
> >would
> >>not be
>=20 >>stopped out). The problem is (as has been mentioned here
> = before)
> >>that it is
> >>almost impossible for = the=20 average investor to buy a stock right
> >>at the
>=20 >>pivot. It makes the case that you should set your stop at = 7-8%
>=20 >>below the
> >>pivot even though your buy point may = create a=20 larger loss then
> >>7-8%. If you
> >>still keep = to the=20 rule of not buying beyond 5% on the upside
> >this
>=20 >>should
> >>give you a maximum loss of approximately = 12%.=20 Yes, Tom, this
> >will
> >>increase
> = >>your=20 dollar losses on each stock but it should also increase
> = >your
>=20 >>percentage
> >>of winning picks to greater than=20 .300.
> >>
> >>----- Original Message = - -----
>=20 >>From: "Dave Cameron" <dfcameron@yahoo.com>
>=20 >>To: <canslim@lists.xmission.com>
> >>Sent: Tuesday, June 05, 2001 8:51 = PM
>=20 >>Subject: [CANSLIM] 7-8% stops
> >>
> = >>
>=20 >>> A few people have mentioned the hard 7-8% stop as = insurance
>=20 >>against
> >>> taking a big loss.
>=20 >>>
> >>> You know, I never use it.   = Its not=20 that I don't set a stop -
> >>but I
> >>> do = it based=20 on the chart - not on a percentage.   As an
>=20 >>example,
> >>> suppose a stock has been basing = between 25=20 and 30 for several
> >>months,
> >>> then = breaks out=20 to 33 on high volume.   If I bought at 33
> = >>(which=20 is
> >>> higher than WON says to buy - but for those of = us who=20 can't
> >>trade
> >>> real-time...) my stop = point=20 would be 29.90 (I can't get used
> >to
> >>> = decimals=20 yet).   Because this would put it back in the base.
>=20 >>All
> >>> right, its a 10% stop - but its common = for a=20 stock like this
> >to
> >>drop
> >>> = 8-9% to=20 say, 30.25 and then bounce back up.     Of course,=20 if
> >I
> >>were
> >>> fortunate = enough to=20 buy the same stock at 30.5, I'd still
> have
> >>a=20 stop
> >>> at 29.90, and then have a 1-2% = stop.   =20 The percentage isn't
> >>relevant
> >>> - the = placement relative to the chart action is.
> >>>
>=20 >>> Anyone else have any thoughts?
> >>>
> = >>>
> >>> =3D=3D=3D=3D=3D
> >>> = Dave=20 Cameron
> >>> dfcameron@yahoo.com
>=20 >>>
> >>>=20 __________________________________________________
> >>> = Do You=20 Yahoo!?
> >>> Get personalized email addresses from = Yahoo! Mail -=20 only $35
> >>> a year! http://personal.mail.yahoo.com/
> >>>
> >>> -
> >>> = - -To=20 subscribe/unsubscribe, email "majordomo@xmission.com"
>=20 >>> -In the email body, write "subscribe canslim" or
>=20 >>> -"unsubscribe canslim". Do not use quotes in your=20 email.
> >>
> >>
> >>-
> = >>-To=20 subscribe/unsubscribe, email "majordomo@xmission.com"
>=20 >>-In the email body, write "subscribe canslim" or
>=20 >>-"unsubscribe canslim". Do not use quotes in your = email.
>=20 >>
> >>
> >>
> >>-
> = >>-To=20 subscribe/unsubscribe, email "majordomo@xmission.com"
>=20 >>-In the email body, write "subscribe canslim" or
>=20 >>-"unsubscribe canslim". Do not use quotes in your = email.
>=20 >>
> >>
> >
> >-
> >-To=20 subscribe/unsubscribe, email "majordomo@xmission.com"
>=20 >-In the email body, write "subscribe canslim" or
> = >-"unsubscribe=20 canslim". Do not use quotes in your email.
> >
>=20 >
> >
> >-
> >-To subscribe/unsubscribe, = email=20 "majordomo@xmission.com"
>=20 >-In the email body, write "subscribe canslim" or
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> >
>=20 >
>
> -
> -To subscribe/unsubscribe, email = "majordomo@xmission.com"
> -In=20 the email body, write "subscribe canslim" or
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> =
>=20
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In=20 the email body, write "subscribe canslim" or
> -"unsubscribe=20 canslim". Do not use quotes in your email. - ------=_NextPart_000_043F_01C0F055.70EF6F00-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Fri, 8 Jun 2001 20:21:32 -0700 From: "Bill Triffet" Subject: Re: [CANSLIM] FDS, turn out the lights... While it's easy to see this one failed it is not so easy to see it was going to fail. Do you set an arbitray 10% gain and I'm out policy? I was up maybe 10% intraday this week but was not around to sell - and if I was, I still would not have sold for a 8-10% profit. I use canslim just for the fact it works for us non daytraders. The fact that I see more failures in my selection tells me to stay out and study my mistakes. My mistake? I bought at the pullback a bit late. Had I picked it up right at the first gapup (luck) I would not be much ahead but would still be in the stock. Also, looking back, it was a cup with NO handle. - -Bill - ----- Original Message ----- From: "Dan Forant" To: Sent: Friday, June 08, 2001 7:23 PM Subject: Re: [CANSLIM] FDS, turn out the lights... > or depending when you got in, you could have taken profits when they were > there. This market has been too obvious for these big pull backs. > DanF > ----- Original Message ----- > From: "Bill Triffet" > To: "canslim" > Sent: Friday, June 08, 2001 12:39 PM > Subject: [CANSLIM] FDS, turn out the lights... > > > > Guess we're done with FDS now. I have learned my lesson of this market - > > Hard Stops - no ifs, ands, or buts.. > > > > -Bill Triffet > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #1463 ****************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.