From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #240 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 Sunday, May 17 1998 Volume 02 : Number 240 In this issue: [CANSLIM] Re: LBOR [CANSLIM] Introduction [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF [none] [CANSLIM] RE: [CANSLIM] Bill's "weird" OBV/MF chart. Re: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF [CANSLIM] Compression Re: [CANSLIM] Bill's "weird" OBV/MF chart. Re: [CANSLIM] Bill's "weird" OBV/MF chart. Re: [CANSLIM] My list for this week Re: [CANSLIM] ACF Re: [CANSLIM] Introduction Re: [CANSLIM] Technical Talk (was RE: ) [CANSLIM] lbor [CANSLIM] Re: WSTF - Western Staff Services Re: [CANSLIM] Introduction Re: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF Re: [CANSLIM] LBOR [CANSLIM] Re: Re: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF Re: [CANSLIM] Connie, OBV/MF [CANSLIM] HTML in emails [CANSLIM] Connie [CANSLIM] Re: WSTF Re: [CANSLIM] Connie, OBV/MF Re: [CANSLIM] Connie, OBV/MF [CANSLIM] Patrick Wahl's chart on LBOR Re: [CANSLIM] Connie, OBV/MF RE: [CANSLIM] Connie, OBV/MF ---------------------------------------------------------------------- Date: Sat, 16 May 1998 09:59:37 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: LBOR This is a good example of the buy-low-sell-high rather than buy-high-sell-higher approach I mentioned a while back. IMO, the upside from buying when the price broke through resistance in the 30-31 area is considerably greater than what might be reasonably expected by buying on a breakout into a new high, given the turbulence of this market, i.e., 6 points or 20%. The buy signals given by short-term MA XOs and trendline penetrations are just as compelling as a new-high breakout. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Sat, 16 May 1998 13:06:34 -0400 From: "PHYLLIS ROBINSON" Subject: [CANSLIM] Introduction Hello, I would like to introduce myself. My name is Phyllis. I am not your typical investor, as I am a Registered Nurse. I happened tp purchase IBD and came across the CANSLIM model of investing. I admit it got me kind of interested. I do have some experience with investing, but my picks have not been the greatest and when I compare them to CANSLIM I now understand why they have not done so well. I am looking forward to learning a lot from this mail group and hopefuly I will find some quality stocks to invest in. Phyllis - - ------------------------------ Date: Sat, 16 May 1998 15:50:12 -0400 From: "Deral Rackley" Subject: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF Connie Mack Rea I really appreciate your message today (May 16, 1998 11:42 am). I am trying to learn to use the technical indicators and your explanations are really helpful. Using RNCO as an example, please check, confirm or correct my interpretations and use of the following: Using Big Charts with the following settings: Time:one month; Frequency: daily; EMA (3 line) 3; Upper Indicators: Bollinger; Lower Indicators: as follows (I have read the Chart Explanations provided by Big Charts online for each in the indicators) MONEY FLOW- Buy signal on may 14 with the MF line crossing (rising) the horizontal zero line. On Balance Volume (OBV)-Buy signal on May 12 with the OBV line crossing the zero (line) Moving Average Convergence/Divergence (MACD)-Buy signal on May 14 with a small vertical bar above the zero line. Also the MACD (12,26) line crossing (rising) the MACD (9) Line on May 13. Fast Stochastic (5,5)-Buy on May 7 with the Fast %K line crossing(rising) the Slow D% line. Moving Average (EMA)- Buy on May 11 with the EMA (3) crossing the EMA(6) line and the EMA (9) lines. Is the crossing of the EMA (9) a confirmation? What if it hadn't? On finding an entry point on an intraday chart (I looked up your April 28 message to Bill on "A simple procedure for using intraday charts in BC- Big Charts I assume). Use the EMA cross-overs, OBV, MF, Stocastics; and MACD Please forward comments and suggestions. Thank you very much. Deral Rackley - - ------------------------------ Date: Sat, 16 May 1998 16:19:22 -0400 From: "PHYLLIS ROBINSON" Subject: [none] Does WSTF fit the criteria for CANSLIM? If so, where can I find this info. Phyllis - - ------------------------------ Date: Sat, 16 May 1998 16:33:09 -0400 From: "Nelson E. Timken, Esq." Subject: [CANSLIM] RE: This is a multi-part message in MIME format. - ------=_NextPart_000_0002_01BD80E8.4FE7C800 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Phyllis, Welcome to the list. This is a great list with great people on it. I am frequently lost by the "technical talk" of these highly skilled traders, but I often find myself gleaning a few tidbits as they all run circles around me. > _______________________ Nelson E. Timken, Esq. J.N. Capital, Inc. Douglaston, New York > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of PHYLLIS ROBINSON > Sent: Saturday, May 16, 1998 4:19 PM > To: canslim@lists.xmission.com > Subject: > > > Does WSTF fit the criteria for CANSLIM? If so, where can I find this info. > Phyllis > > > - > > - ------=_NextPart_000_0002_01BD80E8.4FE7C800 Content-Type: text/x-vcard; name="Nelson E. Timken Esq..vcf" Content-Transfer-Encoding: quoted-printable Content-Disposition: attachment; filename="Nelson E. Timken Esq..vcf" BEGIN:VCARD VERSION:2.1 N:Timken;Nelson;E.;;Esq. FN:Nelson E. Timken Esq. ORG:J.N. Capital, Inc.;Development TITLE:Secretary TEL;WORK;VOICE:718-423-6800 TEL;HOME;VOICE:(718) 468-6293 TEL;WORK;FAX:(718) 224-4782 ADR;WORK:;Secretary;40-26 235th Street;Douglaston;NY;11363;United States = of America LABEL;WORK;ENCODING=3DQUOTED-PRINTABLE:Secretary=3D0D=3D0A40-26 235th = Street=3D0D=3D0ADouglaston, NY 11363=3D0D=3D0AUnited Stat=3D es of America ADR;HOME:;;80-41 230th Street;Bellerose Manor;NY;11427;United States of = America LABEL;HOME;ENCODING=3DQUOTED-PRINTABLE:80-41 230th = Street=3D0D=3D0ABellerose Manor, NY 11427=3D0D=3D0AUnited States of = Amer=3D ica URL: URL:http://www.geocities.com/wallstreet/5791 ROLE:Attorney/Venture Capitalist BDAY:19980704 EMAIL;PREF;INTERNET:netimken@erols.com REV:19980422T120302Z END:VCARD - ------=_NextPart_000_0002_01BD80E8.4FE7C800-- - - ------------------------------ Date: Sat, 16 May 1998 17:25:45 -0400 From: Connie Mack Rea Subject: [CANSLIM] Bill's "weird" OBV/MF chart. Members--

Bill posted me about  a chart that caught his eye for its "weird" but positive divergence of the OBV/MF.    I hope he'll post his thoughts.

Connie Mack - - ------------------------------ Date: Sat, 16 May 1998 17:40:31 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF Evening Deral--

May I make just a couple of comments; otherwise, you're doing fine.

Of small importance: You might try using BigCharts' SAR indicator.  It is a species of the 3/7/10 EMA;  or, perhaps it is the reverse.  However,  the SAR is an indicator that keeps you in the market all the time; you're either long or short.  The EMA can be used the same way.  Use it for entering when there is an upward crossing; use it for exiting when there is a downward crossing.  I have used the  EMA in this way several times this year; it is especially effective when it and the SAR are in conjunction.

Of greater importance:  Neither the MF or the OBV is used for entry or exit.  These are gross indicators.  That either should co-incide with the EMA, which is the entry/exit indicator, is of no significance.  The EMA is my primary entry/exit  indicator.  It is set to three levels, though you could set it to 10.  Whether you set it to 3/7/10, 5/10/15, or whatever, the 3-line EMA in BC always has what it implies: three settings [numbers], and therefore three levels of entry or exit.

If you wish to use the FastSto and the SlowSto as your in/out marker, do that.  Some traders/investors prefer the Stochastic.  Some use the MACD, which is a lagging and, therefore, a more conservative indicator.  But if what you wish for is a more conservative approach, change the numbers in your EMA.  I know investors who use 14/40/100.  Do some back-testing to see how reliable is your EMA. If the back-test shows too much jerking around, move the numbers on out.

You're reading of the MACD is correct.

Unless you have a death wish, don't go too near the FastSto.  You've read aright the FastSto, but look how much jerking around has preceded this buy you've pointed out.  Don't pay any attention to the FastSto unless it has a modulated history of only occasional signalling.  The SlowSto will do nicely.

You've read the EMA correctly.  In a sense the 3-line crossing the 6-line is a confirmation, but remember that you're using scalding numbers even in the world of Boyle's law.  A further confirmation would be the 6-line crossing the 9-line and would therefore be the third level buy [crossing].

You asked "What if it hadn't [the 6-line crossing the 9-line]?"  You  must decide if you want to act on the first, second, or third level crossing.  If you demand a third level crossing, then you'd have not received a buy at that level.   But remember, you're already dealing with scalding numbers.  Luck has the pretty habit of intervening in the search of a diligent market detective and trader/investor accidents are endemic.  Even though you use hard numbers, you are applying them in the "soft" science of investing.

Thanks for the post, Deral.

Connie Mack
 

 
 
 

Deral Rackley wrote:

Connie Mack Rea

I really appreciate your message today (May 16, 1998 11:42 am).  I am
trying to learn to use the technical indicators and your explanations are
really helpful.

Using RNCO as an example, please check, confirm or correct my
interpretations and use of the following:

Using Big Charts with the following settings:  Time:one month;  Frequency:
daily;  EMA (3 line) 3;  Upper Indicators:  Bollinger;  Lower Indicators:
as follows (I have read the Chart Explanations provided by Big Charts
online for each in the indicators)

MONEY FLOW- Buy signal on may 14 with the MF line crossing (rising) the
horizontal zero line.

On Balance Volume (OBV)-Buy signal on May 12 with the OBV line crossing the
zero (line)

Moving Average Convergence/Divergence (MACD)-Buy signal on May 14 with a
small vertical bar above the zero line.  Also the MACD (12,26) line
crossing (rising) the MACD (9) Line on May 13.

Fast Stochastic (5,5)-Buy on May 7 with the Fast %K line crossing(rising)
the Slow D% line.

Moving Average (EMA)- Buy on May 11 with the EMA (3) crossing the EMA(6)
line and the EMA (9) lines.  Is the crossing of the EMA (9) a confirmation?
 What if it hadn't?

On finding an entry point on an intraday chart (I looked up your April 28
message to Bill on "A simple procedure for using intraday charts in BC- Big
Charts I assume).

Use the EMA cross-overs, OBV, MF, Stocastics; and MACD

Please forward comments and suggestions.

Thank you very much.

Deral Rackley

-

  - - ------------------------------ Date: Sat, 16 May 1998 18:51:56 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] Compression > Date: Fri, 15 May 1998 14:32:06 -0400 > From: Craig Griffin > Subject: [CANSLIM] Compression (was Consolidation?) > > Jeffry, > > I just noticed your specialized spelling - sorry for any errors in the past. > > You wrote: > ... > >If not, what other points in the indices do you have in mind where > >"distribution" signals (compression type after an 3-6 month advance) > ... > > I have seen "compression" referred to in the past in reference to a chart. > Can you enlighten me a bit on its meaning or point me to a resource? For > instance what is a "compression day"? > > Any and all responses appreciated. > > Regards, > Craig > When I refer to a "compression day", I'm simply speaking of a distribution day that was not a "reversal" (which I think of as a day where we open strongly higher and close lower on increased volume). What I call "compression" is, I think, described in HTMMIS, at page 50 ("Watch for Heavy Volume without Further Price Progress up). Reversal days (open higher close unchanged to lower) can occur during the market advance from a bottom (low with follow through day within the 3-10 day window). Pretty typical action, much like a stock that gets a little ahead of itself. Nothing to be too concerned about if the bottom has just occurred and sentiment is relatively benign. There were many of these "distribution days" as we made this latest run from the end of January. This run was just like most in that regard. After the run has occurred for several months, I think WON speaks of reversal days as the last warning signal before inception of an intermediate to long term down trend. Compression days come in a variety of forms, as I use the term. "Churning" is a similar description of the phenomenon, I think. Wider range, closing unchanged, lower or slightly higher on increased volume than the prior day. But can be narrower range with higher volume. These are the days I often find to be the earliest indicators of an impending dowturn (whether it be what Tom believes is "Consolidation", an intermediate term move down as we saw most recently in January and October 1997) The volume tells you that the price movement should be much higher than actually occurs. When you see it, according to WON, it means "distribution". When it occurs after an intermediate term move up from appropriate bottoming action (particularly where the sentiment numbers are out of control), I get off margin (which, for me, with the added leverage of options, is way beyond the "sleeping point"). I then look for the other indicators (failed rally attempt, distribution days as we test the top, sentiment, leader failure, "barking dogs") moving progressively to cash if conditions warrant. Then I just sip a cool one and wait for bottoming action, like we saw early this year, scaling back into the market up to the point of insomnia. October 6, 1997 (double check my date, but I think it was around there) was a classic compression top, one I missed on the day it occurred, but I went to cash just before the rally failure later in the month. Look at the chart of the Nasdaq. Increased volume, barely any price range on the day. Does that answer your question? Regards, JWW - - ------------------------------ Date: Sat, 16 May 1998 17:40:05 -0700 From: Bill Subject: Re: [CANSLIM] Bill's "weird" OBV/MF chart. SECX 10 3/16. This stock does not meet any of the CANSLIM criteria, Connie, therefore I was reluctant to post to the group. SECX missed their last qtrs earnings by 33% and is being punished. The positive divergence of OBV/MF is unusual in that the volume associated the sell-off after the 4/23 report was rather small, hence the upward trend of OBV/MF. For the last month, there were only 6 days where the volume was above the 50 DMA. SECX is in a tough business - distribution of PCs, peripherals and wireless telephones. With profits being squeezed, I don't think this is anything a long term investor would want to play with. On the other hand, a short term trader may look at this one in a different light. Bill-->> - --------- At 2:25 PM -0700 5/16/98, Connie Mack Rea wrote: > Members-- >Bill posted me about  a chart that caught his eye for its "weird" but >positive divergence of the OBV/MF.    I hope he'll post his thoughts. >Connie Mack- - - ------------------------------ Date: Sat, 16 May 1998 17:40:05 -0700 From: Bill Subject: Re: [CANSLIM] Bill's "weird" OBV/MF chart. SECX 10 3/16. This stock does not meet any of the CANSLIM criteria, Connie, therefore I was reluctant to post to the group. SECX missed their last qtrs earnings by 33% and is being punished. The positive divergence of OBV/MF is unusual in that the volume associated the sell-off after the 4/23 report was rather small, hence the upward trend of OBV/MF. For the last month, there were only 6 days where the volume was above the 50 DMA. SECX is in a tough business - distribution of PCs, peripherals and wireless telephones. With profits being squeezed, I don't think this is anything a long term investor would want to play with. On the other hand, a short term trader may look at this one in a different light. Bill-->> - --------- At 2:25 PM -0700 5/16/98, Connie Mack Rea wrote: > Members-- >Bill posted me about  a chart that caught his eye for its "weird" but >positive divergence of the OBV/MF.    I hope he'll post his thoughts. >Connie Mack- - - ------------------------------ Date: Sat, 16 May 1998 21:01:22 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] My list for this week 1. Issues that may see a new high this week, market permitting. ACF - eps 99 relst 90 a/d A PE 19, looks like it might be forming a handle, the cup portion was less than 4 weeks, so handle period may be short. BOCB - eps 83 relst 91 a/d A PE 19, penetrated upper resistance at 15 9/16 on Friday closing at 15 3/4. Volume was strong and increasing from Thursday. Maximum entry price would be 16 3/8. HIBB - eps 96 relst 91 a/d A, attempted and failed an upward move on 5/6 and looks to be warming up for another attempt. Previous high, prior to failed break-out is 36 1/4. Max entry would be 38. DCR - eps 93 relst 92 a/d B, has been consolidating since late April in a converging triangle pattern, upward breaks out out this pattern ofter happen at the 2/3 point of the triangle. Volume has been decreasing steadily throughout the period. Watch for a volume surge, previous high at 59 7/16, max entry at 62 1/2. 2. Issues that look to be near the bottom of correction/consolidation. ANF - eps 99 relst 96 a/d A, cap is high but still worth considering. Tested support at 41 and looks to be working upward. RGFC - eps 85 relst 97 a/d A PE 27, has turned possitive, gave a stochastic buy on 5/13 with a volume increase on Friday. Hope all are having a nice weekend. Tony - - ------------------------------ Date: Sat, 16 May 1998 21:09:02 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] ACF > > ACF - eps 99 relst 90 a/d A PE 19, looks like it might be forming a handle, > the cup portion was less than 4 weeks, so handle period may be short. I failed to comment on conflicting signals. Volume has remained a bit strong for a healthy handle, but it may be early and part of the recent market, so watch this one closely. Will need very clear positive signals before considering an entry. Tony - - ------------------------------ Date: Sat, 16 May 1998 21:45:25 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Introduction Welcome to the group, Phyllis. Feel free to use the group as a sounding board on any picks you find. Someone will have an opinion, to help tweak your thinking on it. Tom W - -----Original Message----- From: PHYLLIS ROBINSON To: canslim@lists.xmission.com Date: Saturday, May 16, 1998 1:06 PM Subject: [CANSLIM] Introduction >Hello, I would like to introduce myself. My name is Phyllis. I am not your >typical investor, as I am a Registered Nurse. I happened tp purchase IBD and >came across the CANSLIM model of investing. I admit it got me kind of >interested. I do have some experience with investing, but my picks have not >been the greatest and when I compare them to CANSLIM I now understand why >they have not done so well. I am looking forward to learning a lot from this >mail group and hopefuly I will find some quality stocks to invest in. > >Phyllis > > >- > - - ------------------------------ Date: Sat, 16 May 1998 21:49:55 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Technical Talk (was RE: ) Aw, come on, Nelson. If any of us use too much double talk unlike any lawyers I know, just speak us and say so. Someone will be glad to interpret!! Tom W - -----Original Message----- From: Nelson E. Timken, Esq. To: canslim@lists.xmission.com Date: Saturday, May 16, 1998 4:30 PM Subject: [CANSLIM] RE: >Phyllis, > >Welcome to the list. This is a great list with great people on it. I am >frequently lost by the "technical talk" of these highly skilled traders, but >I often find myself gleaning a few tidbits as they all run circles around >me. > > > >_______________________ >Nelson E. Timken, Esq. >J.N. Capital, Inc. >Douglaston, New York > - - ------------------------------ Date: Sat, 16 May 1998 22:13:26 -0400 From: "H. Gary Kuzia" Subject: [CANSLIM] lbor I am a long time watcher, but first time joining in on the conversation. I bought LBOR on 10-28-97 for 30 11/16, 100 shares. Sold on 03-12-98, after a 2 for 1 split for 31.00. Profit 1541.09. The reason I mention this is that LBOR was a canidate last year. The upside potential is in the 31.00 to 32.00 range. If it splits again, that would be twice in the last 10 months , or so. This company serves a niche market, day labor for the construction industry. If the economy slows and construction slows, this stock will dive. It has made great strides becuase there is a building boom. While watching this stock, watch economic conditions, especially the monthly housing construction figures. Ride it while you can. As soon as construction slows, 2 to 3 months in a row, this stock will go down. Gary - - ------------------------------ Date: Sat, 16 May 1998 22:55:45 -0400 From: "Frank V. Wolynski" Subject: [CANSLIM] Re: WSTF - Western Staff Services At 16:19 5/16/98 -0400, PHYLLIS ROBINSON wrote: >Does WSTF fit the criteria for CANSLIM? If so, where can I find this info. >Phyllis > >- Hi Phyllis, welcome and absolutely! EPS = 95 RS = 97 Accumulation/Distribution = A Quarterly Sales and Earnings both increasing. Float 4.4 million shares All the above from "Investors Business Daily", affectionately known to the group as the IBD. It has had a great run from early February at $17. Sitting currently at 30. I no longer have access to the overly priced Daily Graphs on line, but a good free source of information is http://www.rapidresearch.com. It lists institutional sponsorship at 16.2%, with 20 institutions owning those. It also shows current quarterly sales and earnings and lists vital statistics back 4 or 5 years. I think one of the best performers in the "Commercial Services - Staffing" group is Headway, HDWY. It is really on fire and moving quite well. Great fundamental numbers also. The "Staffing" group is strong right now, it has been moving well since February. I don't know how much longer it will continue to move as there are many troubling technical signals being thrown off by the markets various Indices. I am not recommending you purchase any of these, I believe the current market to be one fit for only the most experienced and nimblist of traders. You found a good canslim stock to ask about though. Good shot! Frank Wolynski ( Often wrong, plan accordingly!) - - ------------------------------ Date: Sat, 16 May 1998 16:06:11 -0400 From: "Deral Rackley" Subject: Re: [CANSLIM] Introduction Welcome Phyllis Robinson. I am a new comer as well having been on the list a couple of weeks. I have already learned a lot from this group about technical indicators (which will help me in selecting entry points for stocks that I have selected using CANSLIM). Additionally, having around 250 people "mining" for CANLIM stocks identifies some stocks that one might not find on his own (two heads are better than one-and there's a lot more than two). Good Luck and I hope you enjoy/and profit from the membership. Deral Rackley - ---------- > From: PHYLLIS ROBINSON > To: canslim@lists.xmission.com > Subject: [CANSLIM] Introduction > Date: Saturday, May 16, 1998 1:06 PM > > Hello, I would like to introduce myself. My name is Phyllis. I am not your > typical investor, as I am a Registered Nurse. I happened tp purchase IBD and > came across the CANSLIM model of investing. I admit it got me kind of > interested. I do have some experience with investing, but my picks have not > been the greatest and when I compare them to CANSLIM I now understand why > they have not done so well. I am looking forward to learning a lot from this > mail group and hopefuly I will find some quality stocks to invest in. > > Phyllis > > > - - - ------------------------------ Date: Sat, 16 May 1998 23:14:39 -0400 From: "Deral Rackley" Subject: Re: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF Connie Mack Rea: Unfortunately, Your message was blank. Please try again. Deral Rackley - ---------- > From: Connie Mack Rea > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF > Date: Saturday, May 16, 1998 5:40 PM > - - ------------------------------ Date: Sat, 16 May 1998 21:58:37 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] LBOR > From: "Deral Rackley" > To: "CANSLIM" > I bought LBOR this morning after months of weeks of watching the intraday > charts and seeing it dive from a high of 35 1/2 down to below 29 at some > points; then gradually move up the near side of the cup. I was anxious to > buy when it hit 33; but held back trying to stick closely to CANSLIM > approach of reaching a new high on good volume. I put a chart of LBOR up at home.att.net/~pwahl with a couple of comments. Anyone who is new to this canslim stuff might find it moderately helpful. - - ------------------------------ Date: Sat, 16 May 1998 22:02:32 -0800 From: "Patrick Wahl" Subject: [CANSLIM] Re: > From: "PHYLLIS ROBINSON" > To: > Does WSTF fit the criteria for CANSLIM? If so, where can I find this info. > Phyllis Yes, and best is Daily Graphs. Some places will have it in the local library if you are lucky, since the DG are pretty expensive to subscribe to. Also, you will get less information, but the Investors Daily will have some of the information you are interested in. - - ------------------------------ Date: Sun, 17 May 1998 07:34:09 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] Connie Mack Rea's message (CANSLIM) OBV/MF [Deral posted that the body of my comment to him and members came through blank. Here is that post.] Evening Deral-- May I make just a couple of comments; otherwise, you're doing fine. Of small importance: You might try using BigCharts' SAR indicator. It is a species of the 3/7/10 EMA; or, perhaps it is the reverse. However, the SAR is an indicator that keeps you in the market all the time; you're either long or short. The EMA can be used the same way. Use it for entering when there is an upward crossing; use it for exiting when there is a downward crossing. I have used the EMA in this way several times this year; it is especially effective when it and the SAR are in conjunction. Of greater importance: Neither the MF or the OBV is used for entry or exit. These are gross indicators. That either should co-incide with the EMA, which is the entry/exit indicator, is of no significance. The EMA is my primary entry/exit indicator. It is set to three levels, though you could set it to 10. Whether you set it to 3/7/10, 5/10/15, or whatever, the 3-line EMA in BC always has what it implies: three settings [numbers], and therefore three levels of entry or exit. If you wish to use the FastSto and the SlowSto as your in/out marker, do that. Some traders/investors prefer the Stochastic. Some use the MACD, which is a lagging and, therefore, a more conservative indicator. But if what you wish for is a more conservative approach, change the numbers in your EMA. I know investors who use 14/40/100. Do some back-testing to see how reliable is your EMA. If the back-test shows too much jerking around, move the numbers on out. You're reading of the MACD is correct. Unless you have a death wish, don't go too near the FastSto. You've read aright the FastSto, but look how much jerking around has preceded this buy you've pointed out. Don't pay any attention to the FastSto unless it has a modulated history of only occasional signalling. The SlowSto will do nicely. You've read the EMA correctly. In a sense the 3-line crossing the 6-line is a confirmation, but remember that you're using scalding numbers even in the world of Boyle's law. A further confirmation would be the 6-line crossing the 9-line and would therefore be the third level buy [crossing]. You asked "What if it hadn't [the 6-line crossing the 9-line]?" You must decide if you want to act on the first, second, or third level crossing. If you demand a third level crossing, then you'd have not received a buy at that level. But remember, you're already dealing with scalding numbers. Luck has the pretty habit of intervening in the search of a diligent market detective and trader/investor accidents are endemic. Even though you use hard numbers, you are applying them in the "soft" science of investing. Thanks for the post, Deral. Connie Mack Deral Rackley wrote: > Connie Mack Rea > > I really appreciate your message today (May 16, 1998 11:42 am). I am > trying to learn to use the technical indicators and your explanations > are > really helpful. > > Using RNCO as an example, please check, confirm or correct my > interpretations and use of the following: > > Using Big Charts with the following settings: Time:one month; > Frequency: > daily; EMA (3 line) 3; Upper Indicators: Bollinger; Lower > Indicators: > as follows (I have read the Chart Explanations provided by Big Charts > online for each in the indicators) > > MONEY FLOW- Buy signal on may 14 with the MF line crossing (rising) > the > horizontal zero line. > > On Balance Volume (OBV)-Buy signal on May 12 with the OBV line > crossing the > zero (line) > > Moving Average Convergence/Divergence (MACD)-Buy signal on May 14 with > a > small vertical bar above the zero line. Also the MACD (12,26) line > crossing (rising) the MACD (9) Line on May 13. > > Fast Stochastic (5,5)-Buy on May 7 with the Fast %K line > crossing(rising) > the Slow D% line. > > Moving Average (EMA)- Buy on May 11 with the EMA (3) crossing the > EMA(6) > line and the EMA (9) lines. Is the crossing of the EMA (9) a > confirmation? > What if it hadn't? > > On finding an entry point on an intraday chart (I looked up your April > 28 > message to Bill on "A simple procedure for using intraday charts in > BC- Big > Charts I assume). > > Use the EMA cross-overs, OBV, MF, Stocastics; and MACD > > Please forward comments and suggestions. > > Thank you very much. > > Deral Rackley > > - - - - ------------------------------ Date: Sat, 16 May 1998 14:58:09 -0500 From: Joe Scott Subject: Re: [CANSLIM] Connie, OBV/MF Connie, First before I ask these few questions, I must apologize for not saving = your posts so I could go back and study them. Truthfully though I though I would never understand these indicators, = but you have me hooked. I want to try a more technical approach to my = trading, I think it will compliment my personality. I can follow rules, = and I think if I set hard, fast limits (that I'm sure I won't follow) at = least I'll be a more disciplined than I am now. I have Elders book "Trading for a living" open now, studying the OBV, = EMA, and MACD.=20 I'm stuck on MF, what is it? If you have any of your old posts with explanations of how you use these = indicators, and could forward to me I would appreciate it. don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - - ------------------------------ Date: Sun, 17 May 1998 07:31:21 -0600 From: Jeff Salisbury Subject: [CANSLIM] HTML in emails Everyone, Recently, I decided to begin filtering emails sent to the canslim group to prevent HTML postings (most people's email tools don't handle the HTML very well). The canslim list software will interecept any email sent to the canslim group with HTML. The posting will not be eliminated. Rather, I will delete the HTML portion and then forward the message to the group. So, if you are sending our HTML emails, please reconfigure your email program to send text only to the canslim group. The email tools that I'm aware of will allow you to send 1) text only, 2) HTML only, or 3) Both text and HTML. Best Regards, Jeff Salisbury - canslim admin/owner - - ------------------------------ Date: Sat, 16 May 1998 15:17:36 -0500 From: Joe Scott Subject: [CANSLIM] Connie Connie, answered my own questions, about Money Flow, and I do have your posts = for the past month or so, pulled them out of the deleted (really not = deleted) bin. I'm going to go back and try decipher those posts, and I'll yell if I = get stumped. Count on it. Thanks. don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - - ------------------------------ Date: Sat, 16 May 1998 15:35:31 -0500 From: Joe Scott Subject: [CANSLIM] Re: WSTF I believe it will, its been brought up before,=20 RS 98 EPS Rank 95 Growth Rate 62% PE 1.0 x SP est. 98 earnings +34% Funds& Banks 13% Debt 29% Group Rs 89 10.2mil shares outr 4.4 float Timeliness A Info available on; DailyGraphs Online. all of that info or in IBD. (Investors Business Daily) most of that info don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - - ------------------------------ Date: Sun, 17 May 1998 09:40:29 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] Connie, OBV/MF Morning Joe-- If you're not familiar with BigCharts [http://BigCharts.com], you might want to learn that site. It is free and the best chart site around. There is a definition section that has all the items you will need. Too, there is a Money Flow [MF] indicator, along with OBV [On Balance Volume] indicator; both appear in the lower screen. Joe, I've finally put together most of my posts because others have come to technical analysis late and were then uninterested in my indicators. I will send you my entire file, if you like, and you can trash what is not to the point. There are quite a few. Thanks for the mail. Connie Mack Joe Scott wrote: > Connie, > First before I ask these few questions, I must apologize for not saving = > your posts so I could go back and study them. > Truthfully though I though I would never understand these indicators, = > but you have me hooked. I want to try a more technical approach to my = > trading, I think it will compliment my personality. I can follow rules, = > and I think if I set hard, fast limits (that I'm sure I won't follow) at = > least I'll be a more disciplined than I am now. > I have Elders book "Trading for a living" open now, studying the OBV, = > EMA, and MACD.=20 > I'm stuck on MF, what is it? > If you have any of your old posts with explanations of how you use these = > indicators, and could forward to me I would appreciate it. > > don't know a thing > joe > > joe@2fords.net > http://www.2fords.net/joe/ > > - - - ------------------------------ Date: Sun, 17 May 1998 08:50:28 -0500 From: "Joe Scott" Subject: Re: [CANSLIM] Connie, OBV/MF Thanks Connie, yes, please send the file. I'm sure it will help me to understand. Meanwhile I will spend some time at Big Charts, looking at the definition section. don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - - ------------------------------ Date: Sun, 17 May 1998 10:00:09 -0400 From: "Deral Rackley" Subject: [CANSLIM] Patrick Wahl's chart on LBOR Patrick: Thanks for your chart and comments on LBOR at home.att.net/~pwahl(if anyone else wants to take a look and had trouble going to the web site and if you are use Microsoft explorer-don't precede the above address with www. in the address block) Deral - - ------------------------------ Date: Sun, 17 May 1998 10:16:15 -0400 From: "anthony boone" Subject: Re: [CANSLIM] Connie, OBV/MF Connie you said "Joe, I've finally put together most of my posts because others have come to technical analysis late and were then uninterested in my indicators. I will send you my entire file, if you like, and you can trash what is not to the point" Please send me a copy, Thanks anthony boone boonean@nwga.com - ---------- > From: Connie Mack Rea > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Connie, OBV/MF > Date: Sunday, May 17, 1998 9:40 AM > > Morning Joe-- > > If you're not familiar with BigCharts [http://BigCharts.com], you might want > to learn that site. It is free and the best chart site around. There is a > definition section that has all the items you will need. > > Too, there is a Money Flow [MF] indicator, along with OBV [On Balance Volume] > indicator; both appear in the lower screen. > > Joe, I've finally put together most of my posts because others have come to > technical analysis late and were then uninterested in my indicators. I will > send you my entire file, if you like, and you can trash what is not to the > point. There are quite a few. > > Thanks for the mail. > > Connie Mack > > Joe Scott wrote: > > > Connie, > > First before I ask these few questions, I must apologize for not saving = > > your posts so I could go back and study them. > > Truthfully though I though I would never understand these indicators, = > > but you have me hooked. I want to try a more technical approach to my = > > trading, I think it will compliment my personality. I can follow rules, = > > and I think if I set hard, fast limits (that I'm sure I won't follow) at = > > least I'll be a more disciplined than I am now. > > I have Elders book "Trading for a living" open now, studying the OBV, = > > EMA, and MACD.=20 > > I'm stuck on MF, what is it? > > If you have any of your old posts with explanations of how you use these = > > indicators, and could forward to me I would appreciate it. > > > > don't know a thing > > joe > > > > joe@2fords.net > > http://www.2fords.net/joe/ > > > > - > > > > > - - - ------------------------------ Date: Sun, 17 May 1998 09:43:30 -0400 From: "Nelson E. Timken, Esq." Subject: RE: [CANSLIM] Connie, OBV/MF This is a multi-part message in MIME format. - ------=_NextPart_000_002B_01BD8178.4031B520 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Sorry to be a bother, but I am getting 3 of each message. I have tried unsubscribing and resubscribing but that won't correct it. Does anyone know how I can remedy it? Thanks. _______________________ Nelson E. Timken, Esq. J.N. Capital, Inc. Douglaston, New York > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Connie Mack Rea > Sent: Sunday, May 17, 1998 9:40 AM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Connie, OBV/MF > > > Morning Joe-- > > If you're not familiar with BigCharts [http://BigCharts.com], you > might want > to learn that site. It is free and the best chart site around. > There is a > definition section that has all the items you will need. > > Too, there is a Money Flow [MF] indicator, along with OBV [On > Balance Volume] > indicator; both appear in the lower screen. > > Joe, I've finally put together most of my posts because others > have come to > technical analysis late and were then uninterested in my > indicators. I will > send you my entire file, if you like, and you can trash what is not to the > point. There are quite a few. > > Thanks for the mail. > > Connie Mack > > Joe Scott wrote: > > > Connie, > > First before I ask these few questions, I must apologize for > not saving = > > your posts so I could go back and study them. > > Truthfully though I though I would never understand these indicators, = > > but you have me hooked. I want to try a more technical approach to my = > > trading, I think it will compliment my personality. I can > follow rules, = > > and I think if I set hard, fast limits (that I'm sure I won't > follow) at = > > least I'll be a more disciplined than I am now. > > I have Elders book "Trading for a living" open now, studying the OBV, = > > EMA, and MACD.=20 > > I'm stuck on MF, what is it? > > If you have any of your old posts with explanations of how you > use these = > > indicators, and could forward to me I would appreciate it. > > > > don't know a thing > > joe > > > > joe@2fords.net > > http://www.2fords.net/joe/ > > > > - > > > > > - > > - ------=_NextPart_000_002B_01BD8178.4031B520 Content-Type: text/x-vcard; name="Nelson E. Timken Esq..vcf" Content-Transfer-Encoding: quoted-printable Content-Disposition: attachment; filename="Nelson E. Timken Esq..vcf" BEGIN:VCARD VERSION:2.1 N:Timken;Nelson;E.;;Esq. FN:Nelson E. Timken Esq. ORG:J.N. Capital, Inc.;Development TITLE:Secretary TEL;WORK;VOICE:718-423-6800 TEL;HOME;VOICE:(718) 468-6293 TEL;WORK;FAX:(718) 224-4782 ADR;WORK:;Secretary;40-26 235th Street;Douglaston;NY;11363;United States = of America LABEL;WORK;ENCODING=3DQUOTED-PRINTABLE:Secretary=3D0D=3D0A40-26 235th = Street=3D0D=3D0ADouglaston, NY 11363=3D0D=3D0AUnited Stat=3D es of America ADR;HOME:;;80-41 230th Street;Bellerose Manor;NY;11427;United States of = America LABEL;HOME;ENCODING=3DQUOTED-PRINTABLE:80-41 230th = Street=3D0D=3D0ABellerose Manor, NY 11427=3D0D=3D0AUnited States of = Amer=3D ica URL: URL:http://www.geocities.com/wallstreet/5791 ROLE:Attorney/Venture Capitalist BDAY:19980704 EMAIL;PREF;INTERNET:netimken@erols.com REV:19980422T120302Z END:VCARD - ------=_NextPart_000_002B_01BD8178.4031B520-- - - ------------------------------ End of canslim-digest V2 #240 ***************************** 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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