From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #160 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk X-No-Archive: yes canslim-digest Monday, March 23 1998 Volume 02 : Number 160 In this issue: RE: [CANSLIM] Quotes Plus [CANSLIM] World Markets [CANSLIM] Oil Price hikes Re: [CANSLIM] Oil Price hikes [CANSLIM] World Mkts - Part II Re: [CANSLIM] World Markets Fw: [CANSLIM] World Market Index Re: [CANSLIM] OBV/MF Comparison Re: [CANSLIM] Oil Price hikes [CANSLIM] Possible breakout on MDLK [CANSLIM] CANSLIM Work Hours [CANSLIM] ABF Re: [CANSLIM] ABF Re: [CANSLIM] Oil Price hikes RE: [CANSLIM] Oil Price hikes [CANSLIM] Fw: Will there be a combined price for DG online and the printed version? [CANSLIM] Mime-Version: 1.0 Re: [CANSLIM] OBV/MF Comparison Re: [CANSLIM] Possible breakout on MDLK Re: [CANSLIM] CANSLIM Work Hours Re: [CANSLIM] Mime-Version: 1.0 Re: [CANSLIM] ABF RE: [CANSLIM] Fw: Will there be a combined price for DG online and the printedversion? ---------------------------------------------------------------------- Date: Sun, 22 Mar 1998 19:01:23 -0800 From: Mike Lucero Subject: RE: [CANSLIM] Quotes Plus I believe they give you a sample scan for breakouts from an 8-week base. Just take out the breakout part that says it's highest in 8 weeks with volume 1.5*adv. It's kinda fun. Mike On Sunday, March 22, 1998 5:43 PM, Joe Scott [SMTP:joe@2fords.net] wrote: > Members, > I'm trying "Quotes Plus" to screen stocks for CANSLIM candidates, anyone using this service that might be able to help a dummy with some tips on defining a scan using this product? > I don't want to look for "breaking out" stocks, but ones that are in a 4 week or better tight base. Relative Strength, earnings? Can it be done with Quotes Plus? Needing some encouragement to delve deeper into this Users Manual. > > don't know a thing, > but still trying > joe > > << File: ATT00004.htm >> - - ------------------------------ Date: Mon, 23 Mar 1998 07:51:44 -0500 From: "Tom Worley" Subject: [CANSLIM] World Markets The media commentators were all forecasting a strong day in the US mkt today on the back of the decision by Saudi Arabia, VZ, and MX to cut production by around 2 million barrels a day. Libya has already joined in with production cuts, and likely others will as well. Oil producers world wide were responding with sharp price increases on their shares. With the Dow 30 having both CHV and XON, it was expected that the Dow 30 at least would rise significantly. However, I note a reversal in the FTSE (UK) which was up sharply earlier. Last check I did it was down fractionally. Likewise, both Germany and France were down measurably. Futures on both the S&P500 and NASDAQ100 have recovered slightly from last night, but still down around half a percent. Possibly the specter of inflation is being factored in now, or possibly the money flow into big caps is diminishing. Certainly the falling cost of energy has directly contributed to keeping the overall CPI, and to a lesser degree the PPI, at very moderate levels. I expect today, at a minimum, to be volatile. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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: Mon, 23 Mar 1998 08:08:00 -0500 From: "Tom Worley" Subject: [CANSLIM] Oil Price hikes For those wanting to again play the oil industry, you may want to put Key Energy (KEG) back on your watch list. It appears that it may have completed a double bottom last week (first bottom in early Jan) and despite a a/d of D, has an u/d of 1.3 already. RS miserable at 18, however EPS remains at 99. Not CANSLIM just yet, but if the buyers come into it strongly, the RS could increase quickly. Of course, it trades AMEX, so you know my feelings on that! Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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: Mon, 23 Mar 1998 08:36:52 EST From: DCSquires Subject: Re: [CANSLIM] Oil Price hikes In a message dated 98-03-23 08:13:43 EST, you write: << For those wanting to again play the oil industry, you may want to put Key Energy (KEG) back on your watch list. >> Another good one is CRLBF in the oil srevice group. While many oil service issues are just making the bottom and right sides of their cup this one is consolidating just off its highs, showing great RS to the group. BTW, take a look at the graphs of CHV, XON and DD, they all had huge volume breakouts last week. DSquires - - ------------------------------ Date: Mon, 23 Mar 1998 08:41:50 -0500 From: "Tom Worley" Subject: [CANSLIM] World Mkts - Part II In the past half hour or so, the NASDAQ100 has reversed sharply, suggesting to me that the tech stocks will do well today. S%P500 still down about the same, but in Europe France has recovered most of its losses earlier. Like I said, expect volatility. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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: Mon, 23 Mar 1998 08:35:33 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] World Markets The quotes provider for Yahoo unexpectedly dropped the FTSE (for UK/Ireland) but it can still be found at www.finance.yahoo.co.uk/quotes/ukie/quote?symbols=FTSE. I got this by sending an email to the Yahoo webmaster, and suggest that approach for anyone looking for something they can't otherwise find there. It's a pretty comprehensive financial site, and they are responsive. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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 - -----Original Message----- From: Deepak Kapur To: stkguru@netside.net Date: Monday, March 23, 1998 8:08 AM Subject: Re: [CANSLIM] World Markets >Hi Tom, > >where do you find the quote on ftse? It used to be on yahoo >world, but for the past few weeks, I have not been able to find it >there. > >Thanks and regards, > >Deepak > - - ------------------------------ Date: Tue, 24 Mar 1998 02:02:54 +1200 From: "Dean Edwards" Subject: Fw: [CANSLIM] World Market Index Here is another world maket index which lists GB FTSE 100 http://www.stocksmart.com/foreign.html - -----Original Message----- From: Tom Worley To: Deepak Kapur Cc: CANSLIM Date: Tuesday, March 24, 1998 1:38 AM Subject: Re: [CANSLIM] World Markets >The quotes provider for Yahoo unexpectedly dropped the FTSE (for >UK/Ireland) but it can still be found at >www.finance.yahoo.co.uk/quotes/ukie/quote?symbols=FTSE. I got this by >sending an email to the Yahoo webmaster, and suggest that approach for >anyone looking for something they can't otherwise find there. It's a >pretty comprehensive financial site, and they are responsive. > >Any statements or opinions are strictly my own and not that of my >employer. My comments should not be interpreted 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 >-----Original Message----- >From: Deepak Kapur >To: stkguru@netside.net >Date: Monday, March 23, 1998 8:08 AM >Subject: Re: [CANSLIM] World Markets > > >>Hi Tom, >> >>where do you find the quote on ftse? It used to be on yahoo >>world, but for the past few weeks, I have not been able to find it >>there. >> >>Thanks and regards, >> >>Deepak >> > > >- > - - ------------------------------ Date: Mon, 23 Mar 1998 09:17:40 -0500 From: Connie Mack Rea Subject: Re: [CANSLIM] OBV/MF Comparison - --------------7D69C5B17175CFB1119DD8B3 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Morning Bill-- A1: No way to bring up more than one bottom-screen chart at a time. Have mentioned the point to BigCharts. A2: Suppose that "divergence" is a sort of mirror image of "convergence." There is an underlying presumption--a sort of protocol--that when an indicator is acting positively against the price of a stock [or even another indicator] it is said to be diverging positively. This divergence is the denotation. The connotation is that the rising of the indicator against the price implies that the price has a pressure [like Boyle's law] to expand, and the expansion expected is upward. I find many stocks that have what is neither a positive nor a negative divergence. I.e., the indicator [OBV or MF] is tracking the price. Though I have never posted about a stock in which the price and the indicator are both rising, they are, of course, common. Such an instance would be a chart in which the stock and the indicator are both visually on an incline, say, as marked by a trend line. What the chart reader has to decide is whether the MF or OBV is rising "faster" than the price. You might use a protractor to determine the angle of inclination; however, you must be sure that you are somehow holding the perspective of each chart constant. Every chart reader knows how perspective can radically change, either from the time period or from the size of chart increments. Believe that I mentioned that on the EPIQ chart there was a period when OBV or MF was rising but that the price, though rising also, was less unresponsive. Seeing this negative divergence within this positive divergence can be overlooked, especially when viewing a 3 to 12-mos chart. On a 5-day chart, the negative divergence in an otherwise positive divergence may be readily seen. I print out at least four indicators [takes four separate sheets]: MF, OBV, Short Stocastics, and MACD. Then I may or may not print out Fast Stochastics, the Volume+, and RSI. I initially look at a chart in 3-mos view. Before I make any final decision, I look at 12 and 6-mos chart. And lastly at a 5-day chart, just to check any last minute illness. As I've said, I don't check group strengths, and 90% of the time I don't know the name of the stock [just the symbol]. A maxim I've often heard is to find the strongest group and buy the strongest and the weakest stock in a group. I can infer the reason for buying the weakest stock, but I would never buy it. I can infer the reason for buying the strongest stock in the strongest group and find the logic compelling [though I don't follow group strength]. The latter makes excellent sense, especially for an investor. It makes less sense for a day trader or swing trader. They are trading on trends. If long, they must assure themselves that the stock is, indeed, in a trend, for a trend is easier [maybe I ought to say safer] to trade. And, even within that trend there will be corrections, which in a trend are usually less severe, and hence more safe. In a trading range you always have the uneasy feeling that when a stock hits the bottom of the range, it may keep on going down. Can you make money from a stock in a trading range? Of course. But you are always looking for odds. If there were no odds, then a trader couldn't make money by having half of his trades result in losses. Some traders even have 60% losses and still make money. They do so by never taking big losses, which is another way of saying don't get careless with stops. And don't ever worry about the stock that went up after you got out--even though you took some profits. Traders take their profits out of the middle and rarely out of the extremes [of being long or short]. Some investors, on the other hand, have a humbling habit of getting in at the top and out at the bottom. When an investor gets in too late or too early, he is apt not to abide by stops which can be taken out quickly because there is usually high volatility at the extremes. There is nothing more honourable [not quite the word] for a trader than to live by stops. And there is nothing more dishonourable [also not quite the word] than to die by ignoring stops. The practice is the difference of having money in the bank and having money in the tank. Thanks for the mail, Bill. Connie Mack Bill wrote: > Connie, thanks for the lesson. > > Q1: Is there a way to display both OBV and MF on the same display at > BigCharts to observe the divergence for your examples? I would assume > that > you are using something other than BigCharts to do your tracking. > > Q2: What is your definition of 'positive divergence?' Could this also > be > described as 'convergence?' > > Bill-->> > ------------------------------------------------ > > At 11:56 AM -0500 3/20/98, Connie Mack Rea wrote: > > >MF is the MoneyFlow indicator in BigCharts. > > - - --------------7D69C5B17175CFB1119DD8B3 Content-Type: text/html; charset=us-ascii Content-Transfer-Encoding: 7bit Morning Bill--

A1: No way to bring up more than one bottom-screen chart at a time.  Have mentioned the point to BigCharts.

A2:  Suppose that "divergence" is a sort of mirror image of "convergence."  There is an underlying presumption--a sort of protocol--that when an indicator is acting positively against the price of a stock [or even another indicator] it is said to be diverging positively.

This divergence is the denotation.  The connotation is that the rising of the indicator against the price implies that the price has a pressure [like Boyle's law] to expand, and the expansion expected is upward.

I find many stocks that have what is neither a positive nor a negative divergence.  I.e., the indicator [OBV or MF] is tracking the price.  Though I have never posted about a stock in which the price and the indicator are both rising, they are, of course, common.

Such an instance would be a chart in which the stock and the indicator are both visually on an incline, say, as marked by a trend line.  What the chart reader has to decide is whether the MF or OBV is rising "faster" than the price.  You might use a protractor to determine the angle of inclination; however, you must be sure that you are somehow holding the perspective of each chart constant.

Every chart reader knows how perspective can radically change, either from the time period or from the size of chart increments.  Believe that I mentioned that on the EPIQ chart  there was a period when OBV or MF was rising but that the price, though rising also, was less unresponsive.  Seeing this negative divergence within this positive divergence can be overlooked, especially when viewing a 3 to 12-mos chart.

On a 5-day chart, the negative divergence in an otherwise positive divergence may be readily seen.  I print out at least four indicators [takes four separate sheets]: MF, OBV, Short Stocastics, and MACD.  Then I may or may not  print out Fast Stochastics, the Volume+, and RSI.  I initially look at a chart in 3-mos view.  Before I make any final decision, I look at 12 and 6-mos chart.  And lastly at a 5-day chart, just to check any last minute illness.

As I've said, I don't check group strengths, and 90% of the time I don't know the name of the stock [just the symbol].

A maxim I've often heard is to find the strongest group and buy the strongest and the weakest stock in a group.  I can infer the reason for buying the weakest stock, but I would never buy it.  I can infer the reason for buying the strongest stock in the strongest group and find the logic compelling [though I don't follow group strength].

The latter makes excellent sense, especially for an investor.  It makes less sense for a day trader or swing trader. They are trading on trends.  If long, they must assure themselves that the stock is, indeed, in a trend, for a trend is easier [maybe I ought to say safer] to trade.  And, even within that trend there will be corrections, which in a trend are usually less severe, and hence more safe.  In a trading range you always have the uneasy feeling that when a stock hits the bottom of the range, it may keep on going down.

Can you make money from a stock in a trading range?  Of course.  But you are always looking for odds.  If there were no odds, then a trader couldn't make money by having half of his trades result in losses.  Some traders even have 60% losses and still make money.  They do so by never taking big losses, which is another way of saying don't get careless with stops.  And don't ever worry about the stock that went up after you got out--even though you took some profits.

Traders take their profits out of the middle and rarely out of the extremes [of being long or short].  Some investors,  on the other hand, have a humbling habit of getting in at the top and out at the bottom.  When an investor gets in too late or too early, he is apt not to abide by stops which can be taken out quickly because there is usually high volatility at the extremes.

There is nothing more honourable [not quite the word] for a trader than to live by stops.  And there is nothing more dishonourable [also not quite the word] than to die by ignoring stops.  The practice is the difference of having money in the bank and having money in the tank.

Thanks for the mail, Bill.

Connie Mack
 
 
 
 

Bill wrote:

Connie, thanks for the lesson.

Q1: Is there a way to display both OBV and MF on the same display at
BigCharts to observe the divergence for your examples? I would assume that
you are using something other than BigCharts to do your tracking.

Q2: What is your definition of 'positive divergence?' Could this also be
described as 'convergence?'

Bill-->>
------------------------------------------------

At 11:56 AM -0500 3/20/98, Connie Mack Rea wrote:

>MF is the MoneyFlow indicator in BigCharts.

-

   - --------------7D69C5B17175CFB1119DD8B3-- - - ------------------------------ Date: Mon, 23 Mar 1998 14:41:58 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Oil Price hikes I have a position in KEG, and was sorely pressed to hold on. However, the trend IS up, so I'm hangin' on.=20 As far as the AMEX factor, KEG announced a week or two ago that they are going to the NYSE in a few weeks. Dan On Mon, 23 Mar 1998 08:08:00 -0500, you wrote: :For those wanting to again play the oil industry, you may want to put :Key Energy (KEG) back on your watch list. It appears that it may have :completed a double bottom last week (first bottom in early Jan) and :despite a a/d of D, has an u/d of 1.3 already. RS miserable at 18, :however EPS remains at 99. Not CANSLIM just yet, but if the buyers :come into it strongly, the RS could increase quickly. Of course, it :trades AMEX, so you know my feelings on that! : :Any statements or opinions are strictly my own and not that of my :employer. My comments should not be interpreted 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: Mon, 23 Mar 1998 15:59:08 +0100 From: Derrick REAGINS Subject: [CANSLIM] Possible breakout on MDLK This could be interesting if it test it's high this week. the base was substantial and with friday's pullaway from the 16-17 trading range on heavy volume helping. the follow through this morning on 1.5x adv less than 30 minutes after the open could be the confirmation of a true breakout for mdlk. Derrick REAGINS dreagins@businessobjects.com - - ------------------------------ Date: Mon, 23 Mar 1998 10:24:49 -0800 From: "Jerry & Tonia Joldersma" Subject: [CANSLIM] CANSLIM Work Hours In the recent discussion about the number of hours per day we invest in stock market research, I see that most responses were from the full-timers: 4 or 6 hours per day, or more. Two questions: 1. Is it worth it? Does it return significantly more than the Vanguard 500 Mutual Fund? 2. What about us part-timers, who are lucky to have an hour or two a day to devote to market research? Is there a place in the game for us? Perhaps following Tom Worley's advice to do a nightly CANSLIM screen (I am using Quotes Plus and beta testing MS Investor), then review the DG charts and make any trade decisions. Then review charts on current portfolio and adjust stops, if necessary. Pretty full hour, it seems...... P.S. MS Investor looks Great! Very fast, wide range of criteria. Beats Quotes Plus in every respect except charting. - - ------------------------------ Date: Mon, 23 Mar 98 14:04:26 EST From: tinghsu@fmrco.com (Ting Hsu) Subject: [CANSLIM] ABF Over twice ADV and a 10% drop - does anyone know the scoop on this stock? Is the run up over, or is this just a normal correction? It hasn't hit my hard sell points, but I'm tempted to get out while I'm still slightly ahead. - -- T.Hsu // ting@shore.net // Consultant, Software Development & QA - - ------------------------------ Date: Mon, 23 Mar 1998 14:10:59 EST From: DCSquires Subject: Re: [CANSLIM] ABF In a message dated 98-03-23 14:07:48 EST, you write: << Over twice ADV and a 10% drop - does anyone know the scoop on this stock? Is the run up over, or is this just a normal correction? It hasn't hit my hard sell points, but I'm tempted to get out while I'm still slightly ahead. -- >> It is most likely the run up in oil, which is a large component of transportation stocks costs. DSquires - - ------------------------------ Date: Mon, 23 Mar 1998 14:37:01 -0500 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] Oil Price hikes At 08:36 AM 3/23/98 EST, DCSquires wrote: >In a message dated 98-03-23 08:13:43 EST, you write: > ><< For those wanting to again play the oil industry, you may want to put > Key Energy (KEG) back on your watch list. >> > >Another good one is CRLBF in the oil srevice group. While many oil service >issues are just making the bottom and right sides of their cup this one is >consolidating just off its highs, showing great RS to the group. BTW, take a >look at the graphs of CHV, XON and DD, they all had huge volume breakouts last >week. > >DSquires > > CRLBF - 99 EPS 91 RS, Funds own 15% & Mgmt own 19% Seems Canslim enough! Analysis today on CNBC said the Bond market really didn't believe the Crude Oil Futures and was shrugging off the rally. I believe the implication was that this was an "attempt to force a price increase on the market through speculation", rather than "a true cutback of production." Frank Wolynski (I am often wrong, plan accordingly.) - - ------------------------------ Date: Mon, 23 Mar 1998 15:22:19 -0500 From: "Surindra Singh" Subject: RE: [CANSLIM] Oil Price hikes I like VTS, which has RS 90, EPS 99. Surindra |-----Original Message----- |From: owner-canslim@lists.xmission.com |[mailto:owner-canslim@lists.xmission.com]On Behalf Of DCSquires |Sent: Monday, March 23, 1998 8:37 AM |To: canslim@lists.xmission.com |Subject: Re: [CANSLIM] Oil Price hikes | | |In a message dated 98-03-23 08:13:43 EST, you write: | |<< For those wanting to again play the oil industry, you may want to put | Key Energy (KEG) back on your watch list. >> | |Another good one is CRLBF in the oil srevice group. While many oil service |issues are just making the bottom and right sides of their cup this one is |consolidating just off its highs, showing great RS to the group. BTW, take a |look at the graphs of CHV, XON and DD, they all had huge volume breakouts last |week. | |DSquires | | |- | - - ------------------------------ Date: Mon, 23 Mar 1998 17:14:34 -0500 From: Peter Newell Subject: [CANSLIM] Fw: Will there be a combined price for DG online and the printed version? FYI Peter Newell - ---------- > From: Customer Service > To: 'Peter Newell' > Subject: RE: Will there be a combined price for DG online and the printedversion? > Date: Sunday, March 22, 1998 2:46 PM > > Yes! > > Individauls who are getting both books on weekly basis will be offered a > $99/ year rate. All other the rate will be $299. Non printed product > subscribers will be charged $720/ year. At any time the printed product is > cancelled or it expires the rate will go up to $720/year. > > Thank you, > DG Online > > -----Original Message----- > From: Peter Newell [SMTP:pnewell@mci2000.com] > Sent: Saturday, March 21, 1998 4:36 PM > To: custserv@dailygraphs.com > Subject: Will there be a combined price for DG online and the printed > version? > > Thanks, > > Peter newell - - ------------------------------ Date: Mon, 23 Mar 1998 19:17:19 -0500 From: "Frank V. Wolynski" Subject: [CANSLIM] Mime-Version: 1.0 Does anyone know how to get mail to Jeff Salisbury? The ListOwner. I received the below from my mail server when addressing a message to him at the address provided in one of his routine messages. Thanks, Frank Wolynski - --------------------------------------------------- Subject: Returned mail: Host unknown (Name server: sd1.usu.edu: host not found) Auto-Submitted: auto-generated (failure) The original message was received at Mon, 23 Mar 1998 19:14:37 -0500 (EST) from user-37kbvgf.dialup.mindspring.com [207.69.254.15] ----- The following addresses had permanent fatal errors ----- - - ------------------------------ Date: Mon, 23 Mar 1998 19:28:46 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] OBV/MF Comparison Connie, when I look at an indicator like up/down volume and see a numeric value for that ratio, I have a pretty good feel for the absolute value (e.g. 1.0 doesn't impress me, while 2.0 I'm paying attention, and 4.0 I am really examining the chart). Are there similiar "absolute" values on things like OBV, MF, MACD, etc.?? Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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 - -----Original Message----- From: Connie Mack Rea To: canslim@lists.xmission.com Date: Monday, March 23, 1998 9:16 AM Subject: Re: [CANSLIM] OBV/MF Comparison >Morning Bill-- > >A1: No way to bring up more than one bottom-screen chart at a time. >Have mentioned the point to BigCharts. > >A2: Suppose that "divergence" is a sort of mirror image of >"convergence." There is an underlying presumption--a sort of >protocol--that when an indicator is acting positively against the price >of a stock [or even another indicator] it is said to be diverging >positively. > >This divergence is the denotation. The connotation is that the rising >of the indicator against the price implies that the price has a pressure >[like Boyle's law] to expand, and the expansion expected is upward. > >Such an instance would be a chart in which the stock and the indicator >are both visually on an incline, say, as marked by a trend line. What >the chart reader has to decide is whether the MF or OBV is rising >"faster" than the price. You might use a protractor to determine the >angle of inclination; however, you must be sure that you are somehow >holding the perspective of each chart constant. > >Every chart reader knows how perspective can radically change, either >from the time period or from the size of chart increments - - ------------------------------ Date: Mon, 23 Mar 1998 19:34:15 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Possible breakout on MDLK And I'm smiling all the way, even took a late day break just in case I would be tempted to sell just before the close. Managed to break thru not only all the recent highs, but the 12 month high (21) as well, hitting 21.5 before pulling back part way. Traded nearly 7X ADV for the day, and finished strong (last trade of 5000 shares at 20.25, but finished with a bid of 20.5 by 20.625). My greedy side is already starting to kick in, I want to see a solid follow thru tomorrow with runaway volume and price. 23% return in two days is FUN!!!! And it's only Monday! Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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 - -----Original Message----- From: Derrick REAGINS To: 'canslim@lists.xmission.com' Date: Monday, March 23, 1998 10:01 AM Subject: [CANSLIM] Possible breakout on MDLK >This could be interesting if it test it's high this week. the base was >substantial and with friday's pullaway from the 16-17 trading range on >heavy volume helping. the follow through this morning on 1.5x adv less >than 30 >minutes after the open could be the confirmation of a true breakout for >mdlk. > >Derrick REAGINS >dreagins@businessobjects.com > > > >- > - - ------------------------------ Date: Mon, 23 Mar 1998 20:00:29 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] CANSLIM Work Hours I never responded directly to the original question, as I consider my behavior both obsessive and uncharacteristic. In all, I probably average about 4 hours every day on the internet, most of which is connected to investing. About half that is spent here, reading email or responding (and yes, I at least skim thru every email I get other than obvious spam). My hours have increased lately, as I am once again involved in a mud slinging contest (I'm being adult and professional, I'm not the one slinging, but the attention I am giving one individual is apparently making him real nervous) regarding resolution of a stock scam. I try to look at every stock mentioned here at DG Online. Once I lose that, may modify my behavior somewhat. Having looked at several hundred thousand Daily Graphs charts over the years, I typically form an opinion in about 30 seconds or less. If I like it, I may then spend several minutes on it, but most I don't like for one reason or another, and move on. If I am taking some notes, may spend more time with it. Keep in mind also that I work in the securities industry. Part of the time that I spend, such as most nights and each morning looking at world markets is in preparation for going to work. While I don't have clients, I do try to support some of my brokers that simply don't have a clue. Not my job, but I do it well anyway. If you have the database and software to give you a good CANSLIM style screen according to the CS elements and parameters that work for you, I suspect that you could dedicate an hour a day and be pretty effective. Bear in mind that a lot of the stocks making your cutoff will be the same from one day to the next. If you find you are getting too many candidates to study or watch, tighten up your parameters. Frankly, lately for a variety of reasons, I haven't been spending my usual amount of time looking for fresh ideas. Partly this was due to my concerns over a correction, which still remain. Partly it was personal, and that I was already spread too thin on the internet. To compensate, having sat on my hands and watched a number of beautiful breakouts while I hesitated, I changed my style and decided to sneak up on them. It worked on MDLK, and has yet to be decided on HDWY. Don't know if this may become my new style. WON has indicated not to get too diversified. I agree. If you have 4-5 stocks in your portfolio, and are watching 6-12 more, that's a lot to keep track of. If your time is limited, cut down on the watch list, be ruthless. Yes, you will miss many good ones. But you will also learn from that if you go back and check up on the ones you dropped once a week and see how they did. It doesn't take that much time to punch up a number of charts each weekend. Keep notes on what you like about the ones you keep on your watch list, as well as why you dropped the others. It's easier then to judge why it's there, and if the reasons are changing. Most people have a day job, mine happens to be in the securities industry, so I also sneak in some addl time during the day looking at my stocks and watch list. You don't need to do this if you don't want to, just use limits and stops that you decided on the night before, or the prior weekend even. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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 - -----Original Message----- From: Jerry & Tonia Joldersma To: canslim Date: Monday, March 23, 1998 1:25 PM Subject: [CANSLIM] CANSLIM Work Hours >In the recent discussion about the number of hours per day we invest in >stock market research, I see that most responses were from the full-timers: >4 or 6 hours per day, or more. Two questions: >1. Is it worth it? Does it return significantly more than the Vanguard 500 >Mutual Fund? >2. What about us part-timers, who are lucky to have an hour or two a day to >devote to market research? Is there a place in the game for us? Perhaps >following Tom Worley's advice to do a nightly CANSLIM screen (I am using >Quotes Plus and beta testing MS Investor), then review the DG charts and >make any trade decisions. Then review charts on current portfolio and >adjust stops, if necessary. Pretty full hour, it seems...... > >P.S. MS Investor looks Great! Very fast, wide range of criteria. Beats >Quotes Plus in every respect except charting. > > >- > - - ------------------------------ Date: Mon, 23 Mar 1998 20:10:47 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Mime-Version: 1.0 Try jeff.salisbury@sdl.usu.edu (an sdl not an sd1) is the key. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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 - -----Original Message----- From: Frank V. Wolynski To: canslim@lists.xmission.com Date: Monday, March 23, 1998 7:16 PM Subject: [CANSLIM] Mime-Version: 1.0 >Does anyone know how to get mail to Jeff Salisbury? The ListOwner. > >I received the below from my mail server when addressing a message >to him at the address provided in one of his routine messages. > >Thanks, >Frank Wolynski >--------------------------------------------------- > >Subject: Returned mail: Host unknown (Name server: sd1.usu.edu: host not >found) >Auto-Submitted: auto-generated (failure) > >The original message was received at Mon, 23 Mar 1998 19:14:37 -0500 (EST) >from user-37kbvgf.dialup.mindspring.com [207.69.254.15] > > ----- The following addresses had permanent fatal errors ----- > > > >- > - - ------------------------------ Date: Mon, 23 Mar 1998 20:43:33 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] ABF I would agree, industry group related, stemming from an anticipation of and the actuality of a reduction in crude oil production, and expected higher prices for fuel. Take a look at their competitor, FedEx (FDX) and you will see a very similiar chart. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted 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 - -----Original Message----- From: Ting Hsu To: canslim@xmission.com Date: Monday, March 23, 1998 2:03 PM Subject: [CANSLIM] ABF >Over twice ADV and a 10% drop - does anyone know the scoop on this stock? >Is the run up over, or is this just a normal correction? It hasn't hit my >hard sell points, but I'm tempted to get out while I'm still slightly ahead. >-- >T.Hsu // ting@shore.net // Consultant, Software Development & QA > >- > - - ------------------------------ Date: Mon, 23 Mar 1998 22:01:48 -0500 From: "Surindra Singh" Subject: RE: [CANSLIM] Fw: Will there be a combined price for DG online and the printedversion? Peter: What is the cost of printed vertion? There must be weekly and some other form of printed vertion I presume from DG's response. Surindra |-----Original Message----- |From: owner-canslim@lists.xmission.com |[mailto:owner-canslim@lists.xmission.com]On Behalf Of Peter Newell |Sent: Monday, March 23, 1998 5:15 PM |To: canslim@lists.xmission.com |Subject: [CANSLIM] Fw: Will there be a combined price for DG online and |the printedversion? | | |FYI |Peter Newell |---------- |> From: Customer Service |> To: 'Peter Newell' |> Subject: RE: Will there be a combined price for DG online and the |printedversion? |> Date: Sunday, March 22, 1998 2:46 PM |> |> Yes! |> |> Individauls who are getting both books on weekly basis will be offered a |> $99/ year rate. All other the rate will be $299. Non printed product |> subscribers will be charged $720/ year. At any time the printed product |is |> cancelled or it expires the rate will go up to $720/year. |> |> Thank you, |> DG Online |> |> -----Original Message----- |> From: Peter Newell [SMTP:pnewell@mci2000.com] |> Sent: Saturday, March 21, 1998 4:36 PM |> To: custserv@dailygraphs.com |> Subject: Will there be a combined price for DG online and the printed |> version? |> |> Thanks, |> |> Peter newell | |- | - - ------------------------------ End of canslim-digest V2 #160 ***************************** 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.