From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #211 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 Saturday, April 25 1998 Volume 02 : Number 211 In this issue: Re: [CANSLIM] M Head Re: [CANSLIM] M Head - correction Re: [CANSLIM] M Head Re: [CANSLIM] M Head - correction Re: [CANSLIM] M Head Re: [CANSLIM] Review of an old star- KEG [CANSLIM] Re: Dave--WOWS Re: [CANSLIM] M Head Re: [CANSLIM] M Head - correction Re: [CANSLIM] Cash Position (was M Today) [CANSLIM] Re: Robert--Buying Low Re: [CANSLIM] That elusive "M" Re: [CANSLIM] Re: MDC Breakout Re: [CANSLIM] M today Re: [CANSLIM] M Head Re: [CANSLIM] M Head [CANSLIM] Intraday charts vs Daily charts [CANSLIM] scan [CANSLIM] Quotes Plus Re: [CANSLIM] Quotes Plus [CANSLIM] OBV/MF Stocks ---------------------------------------------------------------------- Date: Sat, 25 Apr 1998 10:21:23 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] M Head I have to agree with this mornings posts. It is too early to throw in the towel on this market. However, things are not well. The SP-500 is show clear evidence of entering a rangy top. Stochastic %K and %D crossed the first of this month, which signals a shift in the trend, not necessarily down, but maybe. The Russell 2000, RUT-X, is displaying a very similar price and volume pattern with a comfirmation of stochastic top. S&P 100, OEX, is in a similar condition. Rangy price pattern, volume remains strong, and stochastic top. Without continuing my redundant remarks, I'll simply list some of the many other indexes that are displaying similar price and volume patters. Nyse Industrial Index - ND---X Nasdaq Industrial Index - INDS-X Dow Jones Transportation Index - DJ-20 - looks more troubled than the above The Dow Jones Utility Index - DJ-15, looks the most troubled of all. It is displaying a classic head and shoulders top, left shoulder in late march, head in early april and right should last week. Friday it broke downward through neck line support. Does all of this mean we're poised on the edge of a bull market. Not necessarily. We have not observed the high volume one would expect for a classic top. But volume hasn't fallen significantly either, which would be a bullish sign. This market is not well. It may simply consolidate sideways for a number of weeks, but any significant upward movement in the near future would come as a big surprise. Tony - - ------------------------------ Date: Sat, 25 Apr 1998 10:26:45 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] M Head - correction - ---------- > From: Tony Austin > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] M Head > Date: Saturday, April 25, 1998 10:21 AM > > > Does all of this mean we're poised on the edge of a bull market. Not > necessarily. I ment bear, sorry. Tony - - ------------------------------ Date: Sat, 25 Apr 1998 16:33:46 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] M Head DC wrote: >The NYSE definetely had some distribution last >week and the 3 month up trendlines have been broken for the Russ, Nas, and >S&P. I was happy to see the Nas. cross back over this line on Wed. with good >volume, but it still found resistence there falling back through it the next >moring. Also, the decline the past few days has been extremely broad hitting >all indices. It was interesting that Wednesday's big volume was basically >split, so I agreed on your distribution theory. I am still cautious on the end >of the move though, as people got worried real quick when this decline >started, as Tom mentioned. Also the new high in price with a new high in >volume seems to suggest at least a retest in my mind. Of course, many other >indicators (RSI, MO, MACD histogram,MACD) have not confirmed last weeks news >highs. All in all I am getting a very mixed picture. Either way, a failed >rally seems to be the thing to watch for. NAS & SP500 currently are cuurently near/in short base support. To bad DG Online removed the Russell chart. (I'd swear they had it in there a while ago. Maybe I'm wrong.) IF we have some kind of a correction I think the short term max dowmward risk on the NASDAQ is the 50DMA as it corresponds with the mid term support trendline. SP500: same story. Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium - - ------------------------------ Date: Sat, 25 Apr 1998 16:35:53 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] M Head - correction At 10:26 AM 25-04-98 -0400, you wrote: > > >---------- >> From: Tony Austin >> To: canslim@lists.xmission.com >> Subject: Re: [CANSLIM] M Head >> Date: Saturday, April 25, 1998 10:21 AM >> >> >> Does all of this mean we're poised on the edge of a bull market. Not >> necessarily. > >I ment bear, sorry. Opinion: I do not believe we are anywhere near a bear market. Maybe we willhave a small correction. We could use one IMHO. But a bear market. No, I don't see that. Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium - - ------------------------------ Date: Sat, 25 Apr 1998 07:51:44 -0400 From: Kom Tukovinit Subject: Re: [CANSLIM] M Head It seems to me that all the indices that DGOL show are either 1) Near the support trend line 2) At the support 3) Already went through the support The indices include: AMEX (thru) DJIA (thru) DJ Trans (at) DJ Util (at) Investors Daily 6000 (thru) Nasdaq (Near) S&P500 (thru) Also, NYSE's 10 day moving average Up volume/Down volume appear to be crossing, although NASDAQ's are still quite separated. kom Johan Van Houtven wrote: > NAS & SP500 currently are cuurently near/in short base support. To bad DG > Online removed the Russell chart. (I'd swear they had it in there a while > ago. Maybe I'm wrong.) > > IF we have some kind of a correction I think the short term max dowmward > risk on the NASDAQ is the 50DMA as it corresponds with the mid term support > trendline. SP500: same story. > > Johan Van Houtven > CLICK! N.V. / Wilrijk, Belgium > > - - - ------------------------------ Date: Sat, 25 Apr 1998 15:00:57 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Review of an old star- KEG On Fri, 24 Apr 1998 06:39:42 -0700, you wrote: :I know CANSLIM is not a bottomfishing system, but take a look at KEG :Energy. My numbers are from TELESCAN so will not be the same as DG's, :but the correlations should be correct. EPS rank (TELESCANS) is at 99, :Price Rank(close cousin to DG's relative strength) is only at 111, which :probaly equates to a 60-70 range on DG...BUT it is climbing steadily. :KEG is outperforming its group as far as Price rank and growth. It's :projected earnings growth this year is 110%, it's had 4 positive :earnings surprises out of the last 4 quarters, earnings per share have :increased each of the last 4 quarters, it's right at it's 50 DMA, and :broke the 10 DMA seven days ago (broke 50 DMA three days ago), it is 20% :above its six week low and 7% above its 4 week low (indicating it has :begun to move higher), ROE is 19.5, sales are up 47%, and the Price to :Sales ratio is only a .9. I realize this doesn't qualify for a current :CANSLIM stock because it is down so far for the year....but a fallen :star from the CANSLIM ranks is often a great candidate if the risk is :low and the fundamentals are good. : :Ian's Gas In Tank projection shows this one should move to around $21.50 :to $22 ....it's currently at $16.80. : :Comments? I held this one for a couple of months or so and sold on Wednesday, taking a small loss. But for the surge a few days ago, it would have been a serious loss. I searched around for news that would account for the move up recently and could find nothing. A major thing to be aware of if you are contemplating trading KEG right now is the impending earnings report. I believe that 4/27 has been pegged for it. I have been watching KEG and the oil services sector, and I don't have quantitative evidence, but feel that it *has not* been outperforming the group. Several issues have far outperformed it as well (in its sector). I'm thinking of VTS, FGII. One thing that has me worried about it is the relatively high debt, listed at DG Online at 236%. The price of crude is the bottom line for the sector, although I've seen it said that KEG is 70% in natural gas. Well, the natural gas sector is depressed too, partly due to the mild winter. Crude oil prices remain pretty low, and although I saw one prognosticator proclaim that they were on the way up, I've seen half a dozen at least say that they are likely to stay low for months. The crude prices lately have been edging down. Comments welcome. Dan=20 - - ------------------------------ Date: Sat, 25 Apr 1998 08:09:16 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: Dave--WOWS <> The site is www.wallstreet.net. There are three versions of WOWS--Personal, Deluxe and Pro. However, since you're going to want to write CS formulas for breakouts and so forth, the version to go for is Pro. It costs $300, supposedly, but you can get it for far less. If you're interested, contact me directly. There is a downloadable demo at the site. And there's a trial period in case you prefer using the actual software. As I said, it's the only program that scans for both fundamentals and technicals other than Telescan, as far as I know. Telescan, however, can't be customized. It won't give you RS, EPS, and GS ranks, of course, but there are at least three sites that provide this information for nothing. Since they can all be downloaded or copied and pasted to Excel, they can also be sorted by any of these criteria. Cross-reference them against the CS list you come up with from your WOWS scans and there you are. For those of you who are interested, the addresses for these sites are as follows: The first is www.delphi.com. Select Investors' Forum and look for CANSLIM. You do have to register, but it's free. It's not a busy site, but the data is top-notch. Once a week, a member posts those stocks which meet certain RS, EPS, GS, A/D, etc. criteria. Very handy for those who don't want to spend $800 for DG. The second, which I find less useful, is at www.erols.com/killough/stocks/ibd.html. While the guy has his heart in the right place, he selects only those stocks which are under $35, and he does it only once a month. This may not matter to you. The last is a new one constructed by a friend of mine. I have no idea how long he can keep it up, but until he runs out of steam, check out members.aol.com/RANord. His name is Roger and if you like what he's done, please tell him so. If the e-mail link doesn't work, just write him at aol.com. It has an HGS slant. If you don't want to deal with that, just focus on the IBD rank numbers. On the other hand, if you're an HGS groupie, it's all there for you. Weekly. _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Sat, 25 Apr 1998 10:55:02 EDT From: DCSquires Subject: Re: [CANSLIM] M Head In a message dated 98-04-25 10:32:56 EDT, you write: << IF we have some kind of a correction I think the short term max dowmward risk on the NASDAQ is the 50DMA as it corresponds with the mid term support trendline. SP500: same story. >> Johan I don't see any support line that corresponds with the 50 Day SMA. (Nasdaq)What lows are you connecting? Only one I see close to the 50 is a horizontal TL from Feb's peak to April's low, but that's 80 points away. DSquires - - ------------------------------ Date: Sat, 25 Apr 1998 11:26:12 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] M Head - correction > >> Does all of this mean we're poised on the edge of a bull market. Not > >> necessarily. > > > >I ment bear, sorry. > Opinion: I do not believe we are anywhere near a bear market. Maybe we > willhave a small correction. We could use one IMHO. But a bear market. No, > I don't see that. > Johan Van Houtven > CLICK! N.V. / Wilrijk, Belgium > I agree. I don't see a bear market in our near future. Too many possitive economic factors and earnings growth. I do, however, see a short term correction or protracted period of consolidation as eminent. I hate to guess at time frames, usually wrong when I do. Tony - - ------------------------------ Date: Sat, 25 Apr 1998 10:26:22 -0500 From: Joe Scott Subject: Re: [CANSLIM] Cash Position (was M Today) This is a multi-part message in MIME format. - ------=_NextPart_000_0018_01BD7034.9801B160 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Similar situation here, I am about 80% in cash today, mostly because of = a few positions running up so fast, and thinking they had reached a = peak.=20 This week sold TLC, LGTO, HWDY, MSPG. Also sold 1/2 position in BUTL, and NVR.=20 Still holding FDS, and EMC, and very small position in CMGI. I'm going away next week as well, starting Tuesday, and sure didn't = look to me to be a bad time to take some profits and watch a bit, and it = has been one great 1/4.=20 I like that saying "Missed money is better than lost money" I'll set some sell stops on what's left, and go away with a clear head, = enjoy some time off, and come back to it fresh. =20 don't know a thing joe =20 joe@2fords.net http://www.2fords.net/joe/ =20 - ------=_NextPart_000_0018_01BD7034.9801B160 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Similar situation here, I am about 80% in = cash today,=20 mostly because of a few positions running up so fast, and thinking they = had=20 reached a peak.
This week sold TLC, LGTO, HWDY, = MSPG.
Also sold 1/2 position in BUTL, and NVR. =
Still holding FDS, and EMC, and very = small=20 position in CMGI.
 
I'm going away next week as well,  = starting=20 Tuesday, and sure didn't look to me to be a bad time to take some = profits and=20 watch a bit, and it has been one great 1/4.
 
I like that saying "Missed money is = better than=20 lost money"
I'll set some sell stops on what's left, and = go away=20 with a clear head, enjoy some time off, and come back to it = fresh.
 
don't know a thing
joe
 
joe@2fords.net
http://www.2fords.net/joe/<= /DIV>
 
- ------=_NextPart_000_0018_01BD7034.9801B160-- - - ------------------------------ Date: Sat, 25 Apr 1998 08:31:52 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: Robert--Buying Low <<>Personally, I find indicators to be of best use when confirming >activity around a trendline, but this is because I follow the "buy low >sell high" philosophy of the CS value player, rather than the "buy >high sell higher" approach of the CS momentum player. But, like the >French say, every pot must sit on its own bottom. > I didn't know there was a "buy low sell high" philosophy of CANSLIM. Do you mean you buy CANSLIM stocks as they bounce off of important support areas in anticipation of a rally in price to new highs?>> This could be very long, but courtesy demands that I keep it short. If anybody's interested, we can continue the discussion for as long as the interest lasts. O'N makes a rather big deal about not chasing stocks, not buying stocks that are over-extended. Most newbies and more veterans than will admit it do it anyway, but you're not supposed to. This is some of the best advice in the book. It is also some of the most difficult to adhere to. Let's call these "over-valued", even though they may only be short-term over-valued based solely on their chart patters. His favorite patterns are the base patterns and the cup-and-handle patterns. These could be called "fairly-valued" since investors--at least for that span of time--have come to an agreement as to what the stock is worth, assuming low volume (if the volume is high, they're still arguing about it). He also allows V and W bottoms, but this is rarely discussed, just as he allows buying off HTFs, though he discourages you from doing so unless you really know what you're doing. Buying off any of these patterns requires a knowledge of charting and chart patterns that he just doesn't get in to. Then there's that vast sea of underperforming stocks. He cautions against buying cheap, "low-quality" stocks, those with low (or no) earnings, low relative strength, general scuzziness. But what about the rest. What about SEG? AMAT? UTI? BKE? I provide these not necessarily as examples of CS stocks, but of stocks which are or have been depressed for reasons that have nothing to do with the companies themselves. The dyed-in-the-wool CS purist will say that one must wait until each of these has retraced at least 50% of its decline and formed a three-week handle before considering a purchase. My thesis is that with the right stock and armed with a working knowledge of charts and group movements, one can buy off the bottom of the cup and increase his profit level to a much greater extent. But this is already longer than I intended. If anyone has questions, please ask. Otherwise, I'll shut up now. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Sat, 25 Apr 1998 15:51:02 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] That elusive "M" On Fri, 24 Apr 1998 11:50:35 -0400, you wrote: :>Dan Musicant wrote: : :>Since you are being so circumspect (and this is fine, whatever you are :>comfortable with), I'll make one suggestion that I'm sure many others :>would second: don't droop down for your first prey until the "M" in :>CANSLIM is really headed North! They say it's the lion's share of :>what counts. "It's hard to get a tan when it's raining outside". Good :>luck! : :Ah, the prickly "M" question. :-) : :I'm sure there have been many threads on this subject. After all, if = you :had a pretty good sense of which way "M" was going, you could dispense = with :CANSLIM altogether and retire to Tahiti. I'm curious as to which = indicator :you are using for this. I am not using any indicator at all. And actually, historically, I think I would have been better off playing the market like one plays "pin the tail on the donkey" rather than the way I did. Certainly, my performance at the end of 1997 supports this idea.=20 As a database programmer with a degree in mathematics I should (perhaps) have a quantifiable slant, but I do not. Since you seem to want one, I think you should at least look at the methods being used by Connie Mack Rae, on this list. He doesn't even look for news on a company when he makes his buy/sell decisions. He tries to reduce the subjective element in playing the stocks, although I see that he does use his own intuition and his feelings -- at least he does report them. And, of course, there are many who have devoted great efforts to technical analysis of the stock markets, and you can look to them for ideas. :By the way, you quoted me as saying I'm waiting to find a CANSLIM = strategy :that would work. Actually, I said I'm waiting to find one that would = work :for _me_, meaning I want to quantify a substantial portion of the = CANSLIM :formula so that I can come as close as possible to "system-trading" = CANSLIM. I'm using Daily Graphs Online presently, which is not conducive to analyses of this type. The figures are there, but not downloadable and you cannot query the program/databases according to your criteria. However, I've seen several posts from persons saying that Quotes Plus does allow returning result sets based on your specified criteria -- "scans". Seems to me you could take the results of such scans and plot the performance in the following days/weeks/months and get correlations. Presumably, if you knew your statistics, you could even establish the reliability of your criteria. Dan :I notice that Jim O'Shaugnessy did a very interesting of suggesting an :objective CANSLIM-ish system in "Invest Like the Best." : :Regards, : : Paul : : :- - - ------------------------------ Date: Sat, 25 Apr 1998 15:57:47 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Re: MDC Breakout Thanks for this post, John. This is a keeper.=20 Dan On Fri, 24 Apr 1998 13:12:03 -0400 (EDT), you wrote: :Members - : :The chart of MDC bothers me because it doesn't really qualify as a flat :base. If you look at the chart, you'll notice that it corrected more = than :15% since it's previous high of 18 7/8. To me, this is a sign of = weakness.=20 :Lately, I've been pretty strict with my chart selections. I adhere = closely :to WON's descriptions of "cup with handle" and "flat base". In my :experience I've found that buying a CANSLIM stock at the correct pivot :point, off of a flawless chart formation, on a breakout day with large :volume (>2-3X ADV) will often return >20% profits in only a few days = (i.e.=20 :MDLK). On the other hand, quasi-CANSLIM stocks have given me mediocre :returns or have stopped me out after a month or two. These days, I like = to :be patient and don't mind being in cash so much - I've learned that :waiting for a real solid CANSLIM stock to come around is much more :profitable than investing in several ambiguous CANSLIM stocks.=20 : :Lots of us have been announcing breakouts lately in their posts - which = I :definitely think is a great thing. But I would like to see members :describing these breakouts and the patterns they are coming off of. For :instance, I think it means more to say that "XYZ has broken out of a 7- :week TIGHT BASE on 5X ADV today" than to say that "XYZ broke out today = on :huge volume." Furthermore, lots of times that I check the charts of :"announced" breakouts - I do see a day with a price increase on large :volume - but I don't see a recognizable chart formation to go along with :it. I think that if we take the time to describe the breakouts we are :announcing in our posts, we might find flaws or even postive :characteristics in the charts. : :I don't mean to scare-off people from posting breakouts. CANSLIM is :subjective and many of us will read charts differently. I think this is :why it is VERY important to describe our interpretation of a breakout :when we do announce one. : :John F. Nogueira, Jr. : : : :- - - ------------------------------ Date: Sat, 25 Apr 1998 16:06:42 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] M today On Fri, 24 Apr 1998 20:43:05 +0200, you wrote: :The moment we got near the 1870 area on the NASDAQ selling accelerated. : :Here's what I want to know: Did anyone here start to sell for that = reason? : :I do not expect so, since CANSLIM does say that anywhere that I know of. : :So it must be others. Who? Sofisicated individual players? Do'nt believe :that. So I guess it must be funds and they are are probably doing it = with :clever computerised selling. : :Anyone know anything about computerised selling? Where can I learn more :about it. Did a quick search at AltaVista search engine, but got = nothing. : :Sorry, to be so obsessivly interested in 'M' at the moment... B^) : : : :Johan Van Houtven :CLICK! N.V. / Wilrijk, Belgium I heard that a computer buy program kicked in late Friday afternoon and propped up the averages so they weren't as low at the end as they would otherwise have been. I don't know anything about these programs, who runs them, etc. My take on this week's action is that there were some comments made by members of the FED that suggested that an interest rate hike may be coming. This "shot across the bow" is about all it takes to precipitate a "correction". Comments anyone? Dan=20 - - ------------------------------ Date: Sat, 25 Apr 1998 18:44:29 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] M Head DC, Is was talking about the trendline connecting the high in Oct 97' with the high end of Feb 98, that then because support for the interediate low in April. Chart is on the way via email. What is the correct name for this line? Support trendlines connect lows. Resistance trendline connect highs. But the resistance trendline I was talking about became a support trendline. Maybe I'm overdoing the linedrawing a bit, but it has served me well up to now. At 10:55 AM 25-04-98 EDT, you wrote: >In a message dated 98-04-25 10:32:56 EDT, you write: > ><< IF we have some kind of a correction I think the short term max dowmward > risk on the NASDAQ is the 50DMA as it corresponds with the mid term support > trendline. SP500: same story. > >> > >Johan > >I don't see any support line that corresponds with the 50 Day SMA. >(Nasdaq)What lows are you connecting? Only one I see close to the 50 is a >horizontal TL from Feb's peak to April's low, but that's 80 points away. > >DSquires > >- > > Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium - - ------------------------------ Date: Sat, 25 Apr 1998 17:08:45 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] M Head On Sat, 25 Apr 1998 16:33:46 +0200, you wrote: :NAS & SP500 currently are cuurently near/in short base support. To bad = DG :Online removed the Russell chart. (I'd swear they had it in there a = while :ago. Maybe I'm wrong.) :Johan Van Houtven :CLICK! N.V. / Wilrijk, Belgium : They *did* track the Russell 2000. Dan - - ------------------------------ Date: Sat, 25 Apr 1998 13:56:03 -0400 From: Connie Mack Rea Subject: [CANSLIM] Intraday charts vs Daily charts Members-- A couple of members have confused the use of the EMA on intraday and daily charts. E.g., some members saw EMA buy signals on the 5-day hourly chart and thought that signal was to be read as if identical to an EMA on the daily. These members had been day trading or swing trading on paper. You must remember that an EMA buy or sell signal [3/7/10] is applicable to that day alone, for when you turn back to a daily chart the EMA may not show a buy [or sell] at any of the three levels. In fact, any signal may be days away. Even though I have spoken to a few of you about day/swing trading with the EMA on intraday charts, I have also cautioned you about getting jerked around. The EMA is pretty good for pointing out entries, but getting in and out can be dangerous; you may end up getting filled at unexpected prices or not getting filled at all. Being able to read the previous day's chart [or days' charts], is absolutely necessary. Knowing when there is an opportunity is the key to this kind of trading. And for those who must pay more than $15 for one way trades, this trading is even more dangerous and costly. Too, I have mentioned about the significance of spreads and the dangers of low volume. At least for the next few days, there is an opportunity to paper trade some negative divergence stocks [shorting] using OBV/MF/EMA. Some refreshing reading on candlesticks, gaps, etc. are useful for day/swing trading. I hope to have some positive OBV/MF stocks ready some time today. Connie Mack - - ------------------------------ Date: Sat, 25 Apr 1998 11:52:16 -0500 From: Joe Scott Subject: [CANSLIM] scan This is a multi-part message in MIME format. - ------=_NextPart_000_0044_01BD7040.9816F0A0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Quotes plus scan than I use to find volume breakouts yielded 6 stocks = from Friday, down from generally around 40. don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - ------=_NextPart_000_0044_01BD7040.9816F0A0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Quotes plus scan than I use to find volume = breakouts=20 yielded 6 stocks from Friday, down from generally around = 40.
 
don't know a thing
joe
 
joe@2fords.net
http://www.2fords.net/joe/<= /DIV> - ------=_NextPart_000_0044_01BD7040.9816F0A0-- - - ------------------------------ Date: Sat, 25 Apr 1998 21:51:22 +0200 From: Johan Van Houtven Subject: [CANSLIM] Quotes Plus I tried the demo version of QP v1. I regret to say that I find the look of the program 'ugly'. With that I mean the look of the interface. I do not look forward to using such a bad looking program. I hope v2 is better looking. I also find that the charts are hard to read quickly compared to the charts at DG Online. Maybe I'm to used to the DG Online charts. My question: Is QP v2 better looking? Are the charts clearer? Could someone who's beta testing QP v2 please respond and maybe even email a screenshot or two. I had my hopes set on this software. I'm looking at the Telechart 2000 V4 on line brochure now. The interface looks really nice. Descent windows stuff. The charts I've seen thus far do not impress me. For example the chart at: http://www.stockfinder.com/images/Screen%20Shots/Full%20Application.gif has a $ Y-axis where the instead of round dollar amount like 85, 86, 87 etc they have numbers like 85.11, 86.24, etc. I certainly have no use for that kind of (sorry, don't know the English word for the generic word of the coordinates 85.11, 86.24, etc). I suppose this is configurable though. But even then I would not be as readable as the DG charts. If you look at the chart of DELL on DG Online you'll see dotted lines for the $1 increments and a full line for the $5 increments and at logical points: $40, $ 45, $50 etc. Plus the chart automatically fills your screen given the high and low of the stock during the displayed time frame. That is what I call an easy readable chart. Anyone have any answers/suggestions (besides: subscribe to DG Online ;^)? Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium - - ------------------------------ Date: Sat, 25 Apr 1998 15:26:05 -0500 From: Joe Scott Subject: Re: [CANSLIM] Quotes Plus This is a multi-part message in MIME format. - ------=_NextPart_000_005E_01BD705E.7692A280 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable I wish I had a suggestion. I scan using Quotes Plus, then review the picks on DG Online. I also like the readability of the chart on DG Online, but with no = scanning capabilities.=20 I'm not sure what I'll do but I can't justify subscribing to DG Online = just because I like the look of the chart, and the others are just so = slow, if you want to look through hundreds of charts, it takes forever.=20 Quotes Plus is fast, I'm sure I'll have to get used to that *ugly* interface, and it is that *ugly*. Cost per month is only $15.95, and update is available at 8PM, takes = about 5 minutes to download and install. Haven't seen the new beta 2 version don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - ------=_NextPart_000_005E_01BD705E.7692A280 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
I wish I had a suggestion.
 I scan using Quotes Plus, then review = the picks=20 on DG Online.
I also like the readability of the chart on = DG Online,=20 but with no scanning capabilities.
I'm not sure what I'll do but I can't justify = subscribing to DG Online just because I like the look of the chart, and = the=20 others are just so slow, if you want to look through hundreds of charts, = it=20 takes forever.
Quotes Plus is fast, I'm sure I'll = have to get=20 used to that *ugly*
interface, and it is that *ugly*.
Cost per month is only $15.95, and update is = available=20 at 8PM, takes about 5 minutes to download and install.
Haven't seen the new beta 2 = version
 
 
don't know a thing
joe
 
joe@2fords.net
http://www.2fords.net/joe/<= /DIV>
 
- ------=_NextPart_000_005E_01BD705E.7692A280-- - - ------------------------------ Date: Sat, 25 Apr 1998 16:29:10 -0400 From: Connie Mack Rea Subject: [CANSLIM] OBV/MF Stocks Members-- Although there were fewer stocks available for scan on the three exchanges, there were more stocks that survived the screening: GLH, BDT, FFD, and RAZR. There have been days the last two weeks when not a single stock survived; and rarely do I find four. Those who have allowed OBV/MF/EMA to be complementary indicators to their Canslim indicators--and have spoken to me privately and on the site--seem to have grasped the concept quite well. Most of the stocks from your screening are very well chosen. I've taken two or three for myself--with your permission, of course. Of the four stocks, only GLH is ready to buy; it gave a second level buy on Friday. You can get too cute with the three levels of the EMA, both buying and selling, because you may get a first level buy in the middle of the day and won't be able to act on it unless you're watching every few minutes. Getting a first and second level signal or a second and third level signal in one day is not uncommon. To refine the EMA, you can do this. Find a stock in which at least two EMAs are in incline, such that the 3-line is about to pass through the 7. Then pull up a two or five day hourly chart--or a two day-15 minute chart if you want to be aggressive. When, on either chart, you get a first level buy signal, put your order in. You'll need to anticipate at what price the buy will take place. And keep the spread in mind as you decide. If you have a Time & Sales chart, you may see some block trades that give a hint at what price to move in. The positive MF divergence for GLH begins in mid-March to about the end of April. The MF tails off while the stock is rising the last three days. This is a slight negative, but keep it in mind. A slight negative in a powerful indicator is not to be ignored. If the stock doesn't act the way you want following Friday's buy, tighten everything--your stops, your emotion, and your mind. Remember that you are buying into a weakening market. The OBV has risen from the last of February to the spike in mid-March while the price has fallen. Price continues to fall and the OBV levels out in mid-March and then begins a slow rise out to the present. The MACD is coming off an oversold bottom and looks okay. The SlowSto is ambiguous. FFD gave a buy over a week ago. On a correction that results in a new buy, there is some juice left if the OBV/MF stays positive. BDT gave a sell over a week ago. If the OBV/MF stays positive, this would be a buy. RAZR is not a buy but the 3-line is rising and will pass through the 7-line with another up tick or two. This is beginning to look like an instance I spoke about with GLH. I'm reading RAZR this way. At the end of March price falls out of bed--as does OBV and MF. But here is the positive reading. Both the OBV and MF track the fallen price for a week, but then abruptly rise even higher when the price was at its high [about 23] although the price is now about 18. The rise of MF after its fall, and the price fall, indicates that the money is coming in ever faster than before. The price does not respond. If we're right--that there is good OBV volume that continues after the price decline and that money is coming in even faster than before--we're in a position to make a very safe entry, an entry in which the prospects for making money are greater than the prospects for losing money. Playing the odds is the best that anyone can do. That's why traders can lose on 50-60 percent of their trades and still make money: Find the entries with the least risk and religiously defend the stops. For an investor/trader not to arm himself with stops is as silly as a violinist saying he doesn't play well because bowing makes his arm tired. Too, there is the Monica Lewinsky market principle: Don't go down on your stops--unless you don't mind wearing knee pads and like to swallow your losses. Built into the positive divergence of OBV/MF is the fact that it ferrets out stocks that are in decline [or have been periodically in decline] but ready to recover [perhaps only temporarily and hence the invitation for traders to make some money] and have already declined [oversold?] and ready to move up. Where there is room for differing interpretations are these instances: [1] how far back does the positive divergence occur; [2] how long was the divergence; [3] how many divergences; [4] from what level does the divergence arise; [5] how powerful was the divergence? Most answers lie in reading trendlines drawn on price, OBV/MF, MACD, and Stochastics. If you're inclined, use a protractor to get some angles [ratios] of rise and fall between price and OBV/MF. There are more choices. No reason why you can't introduce yours. The three level EMA--and you can pick your own numbers--is one of the best in/out indicators around. Don't let its simplicity disguise its efficacy. Same with OBV/MF. I would print out some of the charts that have recently met both Canslim and OBV/MF criteria. Not often will the two systems coincide, but when they do coincide, and, they do, they should perform extraordinarily well and give you further comfort in your entry. Even when there is no coincidence, OBV/MF can provide confirmation or negation of Canslim stocks, especially to evaluate the quality of breakouts. Connie Mack - - ------------------------------ End of canslim-digest V2 #211 ***************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. 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