From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3437 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Monday, July 21 2003 Volume 02 : Number 3437 In this issue: Re: [CANSLIM] Low Volume Pullback Below Pivot Re: Re: [CANSLIM] Low Volume Pullback Below Pivot [CANSLIM] BreakoutWatch Filters & BE [CANSLIM] Nasdaq channel and QQQ 50dma Re: [CANSLIM] Low Volume Pullback Below Pivot Re: [CANSLIM] Low Volume Pullback Below Pivot ---------------------------------------------------------------------- Date: Mon, 21 Jul 2003 09:59:28 -0500 From: "Gene Ricci" Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot This is a multi-part message in MIME format. - ------=_NextPart_000_0910_01C34F6E.C6255C80 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable John, having difficulty understanding your message. Here's my take: 1. you based your purchase on an alert from B/O Watch and your=20 interpretation of the rating of the stock by B/O Watch 2. now you want to know what to do with it 3. you're questioning your use of the scores provided by B/O Watch to select stocks and asking for help in tightening up your screen = criteria My 2 cents: 1. contact B/O Watch offline and ask them for assistance because their rating system is not familiar to all of us 2. If today is an indication of anything, the price and volume are = picking up ... the market is down but not BE... so you might have a "winner". If in = doubt,=20 sell and take your profit Gene ----- Original Message -----=20 From: John Calkins=20 To: canslim@lists.xmission.com=20 Sent: Monday, July 21, 2003 12:10 AM Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot I guess I'm missing something here. BE broke out on BreakoutWatch = last Tuesday with a "relative" high rating following the WON screens with "reasonable" right cup and handle scores. My question was not if this = stock was a poor choice, because it was a good choice at the time it was = bought. My question somehow got lost in the advice of it shouldn't have been purchaced in the first place, wich surprised the heck out of me = because of where I got the information to buy it. My question again is, now that I own it, I purchacesd BE just above = the pivot on Tuesday. It had pulled back on low volume right away to my 7% mental stop and is sitting there. Again, I = will sell if it falls below it, but this low volume has me hoping (you know hoping when I should be fearing, fearing when I should be hoping). I = don't mind a low volume pullback above the pivot. I get a little lost in = this grey area between the pivot an the stop loss. Should I be hoping or = fearing what the volume action is doing with this low volume pull back or = shoud I wait a bit for a high volume pull back to pull the plug? Getting back to the selecting of BE to purchace, it was rated number = 21 out of 50 for the days CE score. If I'm so wrong for selecting this stock = to purchace, should I stick to the top 10 or top 5 or a CE score of 17 of = 18. If someone has some suggestions on tightening up my screens maybe this = is where I indeed need the advice so that I'm not stuck with these types = of decisions to make. Maybe my alerts will signal me once a month = instead of once a week for a possible buy?? JC ----- Original Message ----- From: To: Sent: Sunday, July 20, 2003 11:23 AM Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot > Dave & John: > > I agree with Katherine. Putting money in BE would be a risky venture, > under the CANSLIM protocol. > > Not only is its earnings for the last 5 years volatile (to say = the > least), but there is too much overhead resistance to-in my = opinion-make it > acceptable (even though it has made a nice base with a rising 200 = and 50 DMA. > Additonally, the volume on its bottoms are nice and the price of the = stock in > relation to its 2 Moving Averages bodes that the stock is short term strong). > > However, the downside overtakes the upsides: Specifically, the = number of > funds (according to DGO) investing in BE is declining. Also, the = Mgt/Fund > ratio (funds hold 27% of the stock, while management holds only 1%) = is 27. > And, as I mentioned, the earnings are anything but CANSLIMMISH. > > Although, the industry is fine, to me this stock seems a = laggard in its > industry. At the most, I believe it will go up to 12=BD before = pausing, and > with the weakness that the Mkt. appears to be signaling, the pause = in BE could > become a freefall back to its 2nd bottom of 6. > > jans > > > > In a message dated 7/18/2003 12:24:28 PM Eastern Daylight Time, > kmalm@earthlink.net writes: > > << While BE provided entry points closer to its bottom, I don't = think it's > provided a comfortable CANSLIM intermediate/term entry point just = yet. > Entries on pullbacks would then be a riskier venture, though highly do-able. > If willing to take on the risk, I would look to the general price = action > itself to find a pullback entry much closer to the bottom of a = logical > support area if entering while the stock's still forming a more convincing > RHS. If the market rolls over, then an entry here makes it easier = to > determine if the stock is going to roll over by itself or in = response to > generally weak market action. > >> > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - -To subscribe/unsubscribe, email "majordomo@xmission.com" -In the email body, write "subscribe canslim" or -"unsubscribe canslim". Do not use quotes in your email. - ------=_NextPart_000_0910_01C34F6E.C6255C80 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
John, having difficulty understanding = your=20 message. Here's my take:
1. you based your purchase on an alert = from B/O=20 Watch and your
interpretation of the rating = of the stock by B/O Watch
2. now you want to know what to do = with=20 it
3. you're questioning your use of = the=20 scores provided by B/O = Watch
to select stocks and asking for help = in=20 tightening up your screen criteria
 
My 2 cents:
1. contact B/O Watch offline and ask = them for=20 assistance because their
rating system is not familiar to all = of=20 us
2. If today is an indication of = anything, the=20 price and volume are picking up
... the market is down but not BE... = so you=20 might have a "winner". If in doubt,
sell and take your profit
 
Gene
----- Original Message -----
From:=20 John=20 Calkins
Sent: Monday, July 21, 2003 = 12:10=20 AM
Subject: Re: [CANSLIM] Low = Volume=20 Pullback Below Pivot

I guess I'm missing something here.  BE broke out = on=20 BreakoutWatch last
Tuesday with a "relative" high rating following = the WON=20 screens with
"reasonable" right cup and handle scores.  My = question=20 was not if this stock
was a poor choice, because it was a good = choice at=20 the time it was bought.
My question somehow got lost in the advice = of it=20 shouldn't have been
purchaced in the first place, wich surprised = the heck=20 out of me because of
where I got the information to buy = it.

My=20 question again is, now that I own it,  I purchacesd BE just above = the
pivot on Tuesday.  It had pulled back on low
volume = right away=20 to my 7% mental stop and is sitting there.  Again, I will
sell = if it=20 falls below it, but this low volume has me hoping (you know
hoping = when I=20 should be fearing, fearing when I should be hoping).   I=20 don't
mind a low volume pullback above the pivot.  I get a = little lost=20 in this
grey area between the pivot an the stop loss.  Should = I be=20 hoping or fearing
what the volume action is doing with this low = volume pull=20 back or shoud I
wait a bit for a high volume pull back to pull the=20 plug?

Getting back to the selecting of BE to purchace, it was = rated=20 number 21 out
of 50 for the days CE score.  If I'm so wrong = for=20 selecting this stock to
purchace, should I stick to the top 10 or = top 5 or=20 a CE score of 17 of 18.
If someone has some suggestions on = tightening up my=20 screens maybe this is
where I indeed need the advice so that I'm = not stuck=20 with these types of
decisions to make.  Maybe my alerts will = signal me=20 once a month instead of
once a week for a possible=20 buy??



JC


----- Original Message = - -----
From:=20 <Spencer48@aol.com>
To: = <canslim@lists.xmission.com= >
Sent:=20 Sunday, July 20, 2003 11:23 AM
Subject: Re: [CANSLIM] Low Volume = Pullback=20 Below Pivot


> Dave &=20 John:
>
>      I agree with=20 Katherine.  Putting money in BE would be a = risky
venture,
>=20 under the CANSLIM = protocol.
>
>      Not=20 only is its earnings for the last 5 years volatile (to say the
> = least),=20 but there is too much overhead resistance to-in my opinion-make = it
>=20 acceptable (even though it has made a nice base with a rising 200 and=20 50
DMA.
> Additonally, the volume on its bottoms are nice and = the=20 price of the stock
in
> relation to its 2 Moving Averages = bodes that=20 the stock is short=20 term
strong).
>
>      = However, the=20 downside overtakes the upsides: Specifically, the number
of
> = funds=20 (according to DGO) investing in BE is declining.  Also, the=20 Mgt/Fund
> ratio (funds hold 27% of the stock, while management = holds=20 only 1%)  is
27.
> And, as I mentioned, the earnings are = anything but = CANSLIMMISH.
>
>     =20 Although, the industry is fine, to me this stock seems a laggard=20 in
its
> industry.  At the most, I believe it will go up = to 12=BD=20 before pausing, and
> with the weakness that the Mkt. appears to = be=20 signaling, the pause in BE
could
> become a freefall back to = its 2nd=20 bottom of 6.
>
> jans
>
>
>
> In a = message=20 dated 7/18/2003 12:24:28 PM Eastern Daylight Time,
> kmalm@earthlink.net=20 writes:
>
> << While BE provided entry points closer = to its=20 bottom, I don't think it's
>  provided a comfortable = CANSLIM=20 intermediate/term entry point just yet.
>  Entries on = pullbacks=20 would then be a riskier venture, though = highly
do-able.
>  If=20 willing to take on the risk, I would look to the general price=20 action
>  itself to find a pullback entry much closer to = the bottom=20 of a logical
>  support area if entering while the stock's = still=20 forming a more
convincing
>  RHS. If the market rolls = over, then=20 an entry here makes it easier to
>  determine if the stock = is going=20 to roll over by itself or in response to
>  generally weak = market=20 action.
>   >>
>
> -
> -To=20 subscribe/unsubscribe, email "majordomo@xmission.com"
>= ; -In=20 the email body, write "subscribe canslim" or
> -"unsubscribe=20 canslim".  Do not use quotes in your = email.
>


-
-To=20 subscribe/unsubscribe, email "majordomo@xmission.com"
-In= the=20 email body, write "subscribe canslim" or
-"unsubscribe = canslim".  Do=20 not use quotes in your email.
- ------=_NextPart_000_0910_01C34F6E.C6255C80-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Mon, 21 Jul 2003 09:25:59 -0700 (PDT) From: Bill Triffet Subject: Re: Re: [CANSLIM] Low Volume Pullback Below Pivot Hi John, I would assume you are aware BreakoutWatch is sending you breakouts based o= n purely technical indicators - NOT fundimentals. It's up to you to decide = whether its fundies are up to par. BE's quarter over quarter earnings are t= oo low for my version of canslim though. I think that is what the others we= re trying to say as well. My take on it is if you can't sleep over it, sell it and move on. I know, I= 've done this myself in the past. - -- Bill - -------Original Message------- From: John Calkins Sent: 07/20/03 10:10 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot >=20 > I guess I'm missing something here. BE broke out on BreakoutWatch last Tuesday with a "relative" high rating following the WON screens with "reasonable" right cup and handle scores. My question was not if this stock was a poor choice, because it was a good choice at the time it was bought. My question somehow got lost in the advice of it shouldn't have been purchaced in the first place, wich surprised the heck out of me because of where I got the information to buy it. My question again is, now that I own it, I purchacesd BE just above the pivot on Tuesday. It had pulled back on low volume right away to my 7% mental stop and is sitting there. Again, I will sell if it falls below it, but this low volume has me hoping (you know hoping when I should be fearing, fearing when I should be hoping). I don't mind a low volume pullback above the pivot. I get a little lost in this grey area between the pivot an the stop loss. Should I be hoping or fearing what the volume action is doing with this low volume pull back or shoud I wait a bit for a high volume pull back to pull the plug? Getting back to the selecting of BE to purchace, it was rated number 21 out of 50 for the days CE score. If I'm so wrong for selecting this stock to purchace, should I stick to the top 10 or top 5 or a CE score of 17 of 18. If someone has some suggestions on tightening up my screens maybe this is where I indeed need the advice so that I'm not stuck with these types of decisions to make. Maybe my alerts will signal me once a month instead of once a week for a possible buy?? JC - ----- Original Message ----- From: To: Sent: Sunday, July 20, 2003 11:23 AM Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot > Dave & John: > > I agree with Katherine. Putting money in BE would be a risky venture, > under the CANSLIM protocol. > > Not only is its earnings for the last 5 years volatile (to say the > least), but there is too much overhead resistance to-in my opinion-make it > acceptable (even though it has made a nice base with a rising 200 and 50 DMA. > Additonally, the volume on its bottoms are nice and the price of the stock in > relation to its 2 Moving Averages bodes that the stock is short term strong). > > However, the downside overtakes the upsides: Specifically, the number of > funds (according to DGO) investing in BE is declining. Also, the Mgt/Fund > ratio (funds hold 27% of the stock, while management holds only 1%) is 27. > And, as I mentioned, the earnings are anything but CANSLIMMISH. > > Although, the industry is fine, to me this stock seems a laggard in its > industry. At the most, I believe it will go up to 12=C2=BD before pausin= g, and > with the weakness that the Mkt. appears to be signaling, the pause in BE could > become a freefall back to its 2nd bottom of 6. > > jans > > > > In a message dated 7/18/2003 12:24:28 PM Eastern Daylight Time, > kmalm@earthlink.net writes: > > << While BE provided entry points closer to its bottom, I don't think it's > provided a comfortable CANSLIM intermediate/term entry point just yet. > Entries on pullbacks would then be a riskier venture, though highly do-able. > If willing to take on the risk, I would look to the general price action > itself to find a pullback entry much closer to the bottom of a logical > support area if entering while the stock's still forming a more convincing > RHS. If the market rolls over, then an entry here makes it easier to > determine if the stock is going to roll over by itself or in response to > generally weak market action. > >> > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Mon, 21 Jul 2003 11:47:00 -0500 From: "Duane Runnels" Subject: [CANSLIM] BreakoutWatch Filters & BE This is a multi-part message in MIME format. - ------=_NextPart_000_001E_01C34F7D.CB84F320 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Hello John =20 I'm a canslim newbie so I feel your frustration and I'll throw in my 2 = cents. Others have already spoken up about the flaws in BE, so I'll = concentrate on the breakoutwatch filters you asked about. =20 I'm a lot fussier than most. I too subscribe to breakoutwatch, but I = filter out the losers before they get to my watchlist. Of course, I = also end up filtering out a bunch of winners too, but that's the price = you pay for being fussy.=20 =20 I set up my watchlist to find stocks within 10% of new highs with volume = > 75,000 and a CE > 13. This gives me about 10 stocks per week to look = at and run through my next filter which is an excel spreadsheet using = IBD rankings, canslim parameters, and chart evaluation. I rarely find = anything I'm interested in with a CE < 14. I know, everybody else = thinks I'm mad, but again I'm fussy. I would say about 2-3 stocks per = week pass this second filter and then I'm off to do due diligence. = Since I look for stocks within 10% of a new high, I usually have a = couple of days to mull it over and do it properly before I make a final = decision. Then of course many picks don't even break out, but sit idly = on another watchlist waiting for another breakout opportunity.=20 =20 You don't have to swing at pitches in the dirt. Breakouts are a bit = harder to come by these days than back in April and May and the numbers = don't seem as strong. And yes, I once bought the top CE stock (16.2 I = think) at the BO and it nosedived. My opinion is that we're in a period = where being fussy pays off. If that means I can't find any stocks to = buy, so be it. - ------=_NextPart_000_001E_01C34F7D.CB84F320 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable

Hello John

 

I=92m a canslim newbie so I = feel your=20 frustration and I=92ll throw in my 2 cents. =20 Others have already spoken up about the flaws in BE, so I=92ll = concentrate=20 on the breakoutwatch filters you asked about.

 

I=92m a lot fussier than = most.  I too subscribe to = breakoutwatch, but I=20 filter out the losers before they get to my watchlist.  Of course, I also end up = filtering out a=20 bunch of winners too, but that's the price you pay for being fussy. =

 

I set up my watchlist to = find stocks=20 within 10% of new highs with volume > 75,000 and a CE > 13.  This gives me about 10 stocks = per week=20 to look at and run through my next filter which is an excel spreadsheet=20 using IBD rankings, canslim parameters, and chart evaluation.  I rarely find anything I=92m = interested in=20 with a CE < 14.  I = know,=20 everybody else thinks I=92m mad, but again I=92m fussy.  I would say about 2-3 stocks = per week=20 pass this second filter and then I=92m off to do due diligence.  Since I look for stocks within = 10% of a=20 new high, I usually have a couple of days to mull it over and do it = properly=20 before I make a final decision. =20 Then of course many picks don=92t even break out, but sit idly on = another=20 watchlist waiting for another breakout opportunity.=20

 

You don=92t have to swing at pitches in the dirt.  Breakouts are a bit harder to = come by=20 these days than back in April and May and the numbers don=92t seem as = strong. And=20 yes, I once bought the top CE stock (16.2 I think) at the BO and it = nosedived.=20 My opinion is that we=92re in a period where being fussy pays off.  If that means I can=92t find = any stocks to=20 buy, so be it.
 
- ------=_NextPart_000_001E_01C34F7D.CB84F320-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Mon, 21 Jul 2003 13:15:57 -0400 From: "Pritish Shah" Subject: [CANSLIM] Nasdaq channel and QQQ 50dma Hi, It seems to me that Nasdaq is nearing the bottom of the channel (around = 1675). I also noticed that QQQ is nearing its 50dma of 29.99 (still around = 0.60 away from it). The volume action is iffy. I also noticed that today IXIC bounced from the 1675 range. I have a = feeling that next few days are going to be the indicator to where the = market is going to head in the short run. What do you all think? Pritish - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Mon, 21 Jul 2003 15:29:21 -0700 (PDT) From: Fanus Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot John I am also not clear on your question. Why are you unsure on what to do if you have a stop in place? If it hit your stop, you sell. If it go higher, you trail it. If you can't sleep because of your position and you agonize over it for days, then sell it. You can hope and fear all you want, but the market will do what it want. This is why you need a stop in place. I am also not a subscriber to breakoutwatch, but it is probably among other things, like all other screens, just a way to filter stocks and to give you a list of potential candidates. You still have to do your own research and not blindly buy all stocks in a screen. Regards - - Fanus - --- Gene Ricci wrote: > John, having difficulty understanding your message. > Here's my take: > 1. you based your purchase on an alert from B/O > Watch and your > interpretation of the rating of the stock by B/O > Watch > 2. now you want to know what to do with it > 3. you're questioning your use of the scores > provided by B/O Watch > to select stocks and asking for help in tightening > up your screen criteria > > My 2 cents: > 1. contact B/O Watch offline and ask them for > assistance because their > rating system is not familiar to all of us > 2. If today is an indication of anything, the price > and volume are picking up > ... the market is down but not BE... so you might > have a "winner". If in doubt, > sell and take your profit > > Gene > ----- Original Message ----- > From: John Calkins > To: canslim@lists.xmission.com > Sent: Monday, July 21, 2003 12:10 AM > Subject: Re: [CANSLIM] Low Volume Pullback Below > Pivot > > > I guess I'm missing something here. BE broke out > on BreakoutWatch last > Tuesday with a "relative" high rating following > the WON screens with > "reasonable" right cup and handle scores. My > question was not if this stock > was a poor choice, because it was a good choice at > the time it was bought. > My question somehow got lost in the advice of it > shouldn't have been > purchaced in the first place, wich surprised the > heck out of me because of > where I got the information to buy it. > > My question again is, now that I own it, I > purchacesd BE just above the > pivot on Tuesday. It had pulled back on low > volume right away to my 7% mental stop and is > sitting there. Again, I will > sell if it falls below it, but this low volume has > me hoping (you know > hoping when I should be fearing, fearing when I > should be hoping). I don't > mind a low volume pullback above the pivot. I get > a little lost in this > grey area between the pivot an the stop loss. > Should I be hoping or fearing > what the volume action is doing with this low > volume pull back or shoud I > wait a bit for a high volume pull back to pull the > plug? > > Getting back to the selecting of BE to purchace, > it was rated number 21 out > of 50 for the days CE score. If I'm so wrong for > selecting this stock to > purchace, should I stick to the top 10 or top 5 or > a CE score of 17 of 18. > If someone has some suggestions on tightening up > my screens maybe this is > where I indeed need the advice so that I'm not > stuck with these types of > decisions to make. Maybe my alerts will signal me > once a month instead of > once a week for a possible buy?? > > > > JC > > > ----- Original Message ----- > From: > To: > Sent: Sunday, July 20, 2003 11:23 AM > Subject: Re: [CANSLIM] Low Volume Pullback Below > Pivot > > > > Dave & John: > > > > I agree with Katherine. Putting money in > BE would be a risky > venture, > > under the CANSLIM protocol. > > > > Not only is its earnings for the last 5 > years volatile (to say the > > least), but there is too much overhead > resistance to-in my opinion-make it > > acceptable (even though it has made a nice base > with a rising 200 and 50 > DMA. > > Additonally, the volume on its bottoms are nice > and the price of the stock > in > > relation to its 2 Moving Averages bodes that the > stock is short term > strong). > > > > However, the downside overtakes the > upsides: Specifically, the number > of > > funds (according to DGO) investing in BE is > declining. Also, the Mgt/Fund > > ratio (funds hold 27% of the stock, while > management holds only 1%) is > 27. > > And, as I mentioned, the earnings are anything > but CANSLIMMISH. > > > > Although, the industry is fine, to me this > stock seems a laggard in > its > > industry. At the most, I believe it will go up > to 12½ before pausing, and > > with the weakness that the Mkt. appears to be > signaling, the pause in BE > could > > become a freefall back to its 2nd bottom of 6. > > > > jans > > > > > > > > In a message dated 7/18/2003 12:24:28 PM Eastern > Daylight Time, > > kmalm@earthlink.net writes: > > > > << While BE provided entry points closer to its > bottom, I don't think it's > > provided a comfortable CANSLIM > intermediate/term entry point just yet. > > Entries on pullbacks would then be a riskier > venture, though highly > do-able. > > If willing to take on the risk, I would look to > the general price action > > itself to find a pullback entry much closer to > the bottom of a logical > > support area if entering while the stock's > still forming a more > convincing > > RHS. If the market rolls over, then an entry > here makes it easier to > > determine if the stock is going to roll over by > itself or in response to > > generally weak market action. > > >> > > > > - > > -To subscribe/unsubscribe, email > "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in > your email. > > > > > - > -To subscribe/unsubscribe, email > "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your > email. > __________________________________ Do you Yahoo!? SBC Yahoo! DSL - Now only $29.95 per month! http://sbc.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Mon, 21 Jul 2003 21:36:13 -0700 From: "John Calkins" Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot Thanks to All for replying. My question again was to get some thoughts about how to react to Low Volu= me Pullbacks below the Pivot. I've been successful at keeping my stop losses smaller than the 7-8% rule lately because I've been able to spot the high volume sell off and get out of a few failing breakouts with minimal loss.= BE has been an all-low volume pullback not quite failing and I was intereste= d in how others might react to this type of action. If the stock recovers, then it becomes a classic model of why we use 7-8% as a stop, and gives a good (or maybe not so good) CANSLIM stock room to move or pullback. I understood my risk in picking the stock to buy. I kept my position smal= l so I'm not loosing any sleep or stuck with indecision. I understand there are a few that might reconsider the fundamentals and due diligence before pulling the plug. I have been taught here to try to keep my selling based= on chart action. It is interesting how one investor sees an exit and another sees and opportunity at the same moment. I don't see BE as a CANSLIM buying opportunity right now because it went below its pivot. I'm the most learned from Katherine's reply about how use the screening methods and warnings about risk and due diligence. She did remind and sen= d me (and others I suppose) complete detailed instructions on how to use th= eir site so I'm quite comfortable in my selections and their support which in= my estimation is incredible. But I did get the most gratifying reply from Duane. Thanks Duane for maki= ng it real. Your studied response is so very close to how things really work and the reason for having this communication with this group. What a great group, my family tells me to be careful when I go Halibut fishing in the Straits of Juan de Fuca too. JC - ----- Original Message ----- From: "Fanus" To: Sent: Monday, July 21, 2003 3:29 PM Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot > John > > I am also not clear on your question. Why are you > unsure on what to do if you have a stop in place? If > it hit your stop, you sell. If it go higher, you trail > it. If you can't sleep because of your position and > you agonize over it for days, then sell it. You can > hope and fear all you want, but the market will do > what it want. This is why you need a stop in place. > > I am also not a subscriber to breakoutwatch, but it is > probably among other things, like all other screens, > just a way to filter stocks and to give you a list of > potential candidates. You still have to do your own > research and not blindly buy all stocks in a screen. > > Regards > - Fanus > > --- Gene Ricci wrote: > > John, having difficulty understanding your message. > > Here's my take: > > 1. you based your purchase on an alert from B/O > > Watch and your > > interpretation of the rating of the stock by B/O > > Watch > > 2. now you want to know what to do with it > > 3. you're questioning your use of the scores > > provided by B/O Watch > > to select stocks and asking for help in tightening > > up your screen criteria > > > > My 2 cents: > > 1. contact B/O Watch offline and ask them for > > assistance because their > > rating system is not familiar to all of us > > 2. If today is an indication of anything, the price > > and volume are picking up > > ... the market is down but not BE... so you might > > have a "winner". If in doubt, > > sell and take your profit > > > > Gene > > ----- Original Message ----- > > From: John Calkins > > To: canslim@lists.xmission.com > > Sent: Monday, July 21, 2003 12:10 AM > > Subject: Re: [CANSLIM] Low Volume Pullback Below > > Pivot > > > > > > I guess I'm missing something here. BE broke out > > on BreakoutWatch last > > Tuesday with a "relative" high rating following > > the WON screens with > > "reasonable" right cup and handle scores. My > > question was not if this stock > > was a poor choice, because it was a good choice at > > the time it was bought. > > My question somehow got lost in the advice of it > > shouldn't have been > > purchaced in the first place, wich surprised the > > heck out of me because of > > where I got the information to buy it. > > > > My question again is, now that I own it, I > > purchacesd BE just above the > > pivot on Tuesday. It had pulled back on low > > volume right away to my 7% mental stop and is > > sitting there. Again, I will > > sell if it falls below it, but this low volume has > > me hoping (you know > > hoping when I should be fearing, fearing when I > > should be hoping). I don't > > mind a low volume pullback above the pivot. I get > > a little lost in this > > grey area between the pivot an the stop loss. > > Should I be hoping or fearing > > what the volume action is doing with this low > > volume pull back or shoud I > > wait a bit for a high volume pull back to pull the > > plug? > > > > Getting back to the selecting of BE to purchace, > > it was rated number 21 out > > of 50 for the days CE score. If I'm so wrong for > > selecting this stock to > > purchace, should I stick to the top 10 or top 5 or > > a CE score of 17 of 18. > > If someone has some suggestions on tightening up > > my screens maybe this is > > where I indeed need the advice so that I'm not > > stuck with these types of > > decisions to make. Maybe my alerts will signal me > > once a month instead of > > once a week for a possible buy?? > > > > > > > > JC > > > > > > ----- Original Message ----- > > From: > > To: > > Sent: Sunday, July 20, 2003 11:23 AM > > Subject: Re: [CANSLIM] Low Volume Pullback Below > > Pivot > > > > > > > Dave & John: > > > > > > I agree with Katherine. Putting money in > > BE would be a risky > > venture, > > > under the CANSLIM protocol. > > > > > > Not only is its earnings for the last 5 > > years volatile (to say the > > > least), but there is too much overhead > > resistance to-in my opinion-make it > > > acceptable (even though it has made a nice base > > with a rising 200 and 50 > > DMA. > > > Additonally, the volume on its bottoms are nice > > and the price of the stock > > in > > > relation to its 2 Moving Averages bodes that the > > stock is short term > > strong). > > > > > > However, the downside overtakes the > > upsides: Specifically, the number > > of > > > funds (according to DGO) investing in BE is > > declining. Also, the Mgt/Fund > > > ratio (funds hold 27% of the stock, while > > management holds only 1%) is > > 27. > > > And, as I mentioned, the earnings are anything > > but CANSLIMMISH. > > > > > > Although, the industry is fine, to me this > > stock seems a laggard in > > its > > > industry. At the most, I believe it will go up > > to 12=BD before pausing, and > > > with the weakness that the Mkt. appears to be > > signaling, the pause in BE > > could > > > become a freefall back to its 2nd bottom of 6. > > > > > > jans > > > > > > > > > > > > In a message dated 7/18/2003 12:24:28 PM Eastern > > Daylight Time, > > > kmalm@earthlink.net writes: > > > > > > << While BE provided entry points closer to its > > bottom, I don't think it's > > > provided a comfortable CANSLIM > > intermediate/term entry point just yet. > > > Entries on pullbacks would then be a riskier > > venture, though highly > > do-able. > > > If willing to take on the risk, I would look to > > the general price action > > > itself to find a pullback entry much closer to > > the bottom of a logical > > > support area if entering while the stock's > > still forming a more > > convincing > > > RHS. If the market rolls over, then an entry > > here makes it easier to > > > determine if the stock is going to roll over by > > itself or in response to > > > generally weak market action. > > > >> > > > > > > - > > > -To subscribe/unsubscribe, email > > "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in > > your email. > > > > > > > > > - > > -To subscribe/unsubscribe, email > > "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your > > email. > > > > > __________________________________ > Do you Yahoo!? > SBC Yahoo! DSL - Now only $29.95 per month! > http://sbc.yahoo.com > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". 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