From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #354 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk X-No-Archive: yes canslim-digest Monday, August 10 1998 Volume 02 : Number 354 In this issue: [CANSLIM] canslim-digest V2 #353 - I'm out of the office Re: [CANSLIM] What's up with the oils? Fw: [CANSLIM] More Noise on "M" Re: [CANSLIM] HI-EPSRS spreadsheet Re: [CANSLIM] Scanning for base structures (was: Charting/Screening Programs) Re: [CANSLIM] Noise on "M" Re: [CANSLIM] Scanning for base structures (was: Charting/Screening Programs) Re: [CANSLIM] What's up with the oils? Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN [CANSLIM] Re: Noise on "M" [CANSLIM] Mime-Version: 1.0 [CANSLIM] Date: Mon, 10 Aug 1998 13:22:45 -0400 [CANSLIM] Date: Mon, 10 Aug 1998 13:25:25 -0400 [CANSLIM] Intro: Dan Rathbun Re: [CANSLIM] Intro: Dan Rathbun Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN Re: [CANSLIM] More Noise on "M" Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN Re: [CANSLIM] Re: Shorts [CANSLIM] On "oils" groups Re: [CANSLIM] On "oils" groups [CANSLIM] daily charts intraday Re: [CANSLIM] daily charts intraday ---------------------------------------------------------------------- Date: Sun, 09 Aug 1998 22:47:49 -0600 From: "William Couch" Subject: [CANSLIM] canslim-digest V2 #353 - I'm out of the office I am out of the office until August 24. If you need immediate assistance, = please contact Dan Herrmann or Kevin Dick. Bill - - ------------------------------ Date: Mon, 10 Aug 1998 01:23:12 EDT From: Subject: Re: [CANSLIM] What's up with the oils? make some money if you can.. or hold on to these and loose a lot. - - ------------------------------ Date: Tue, 11 Aug 1998 00:28:00 +1200 From: "Dean Edwards" Subject: Fw: [CANSLIM] More Noise on "M" Tom, Two independent sources have confirmed that Japan has between US $600-700 billion dollars worth of "bad" bank loans to write off. Presumably a combination of loans on shares and Japanese property. It will takes years to correct a bubble that has burst of this magnitude. The Nikkei peaked on December 29,1989 at 38,915. The devastating bear market that ensued dropped the average by 63.5% to 14,194 by August, 1992. Currently trading at 15626.42 today. Just a few examples: Nippon Telephone & Telegraph a telecommunications company similar in size to US AT&T when sold to the public in 1987, listed at 270 times earnings. It had a market value of $350 billion.And the emperor's palace in Tokyo, had a property market value worth more than all the land in the State of California, if you can believe such tall stories. Just to put this in perspective, the New Zealand Stock market NZSE40 has never recovered from its post crash high of 1987. I am talking about even today - in 1998. The NZ government had to bale out our largest bank - the Bank of New Zealand. It was insolvent, ( I would say bankrupt) after loaning money on property and shares that went sour. The NZ public was fuming of course, as the government saved the bank with taxpayer's money. This was written off. Can you imagine the consequences if it hadn't? Analyst's forecast 3-5 years for Japan to resolve its problems. If you invested in the Nekkei in 1987 with the base at 100. You have gone nowhere in the last 10 years. It is at a current base of 70. You have loss money and still have not made a dime yet. On Monday: Japanese Bank shares fell 3.3%, the largest declining sector, on concerns that passage of bills to stabilize the country's ailing financial system may be delayed because of resistance from opposition political parties. On another note: for the US, I have no firm conviction as to which direction the market is headed. My stance is defensive. Especially when there has been a sector rotation into food and utilities. And my own observation is that the banking sector is looking weak. When you see other countries like Asia, Japan, Oceania, Britain and Germany (GDP has contracted), you begin to wonder how long the US can keep running on all cylinders. Having said all that, I have learnt a long time ago, the market will do whatever it wants. Don't fight the tread. If the market heads higher... so be it. Economists are expecting US GDP growth for the year to hold around 2.5% to 3% with inflation expected to climb about 2.5%. No action in the June/July Federal Open Market Committee meeting reinforced most economists opinions that the Fed will continue to leave rates alone. Besides, a rate hike would slow the economy but strengthen an already dominant dollar. And with the Fed's decision to boost the yen against the dollar in June, it is unlikely the central bank would contradict itself with a move that would add even more muscle to the dollar. New York- Friday-Aug 7-- The Dow was more volatile today than yesterday with a swing of 158 points between its high and low compared to a swing of 107 points on Thursday. "I'd feel a little more comfortable if we were a little more level," said NatCity's Haskell, but he added that he was somewhat reassured by record short interest levels. "Historically, that's viewed as cushioning on the downside," he said. Short interest is the total amount of shares of stock that have been sold short and have not yet been repurchased to close out short positions. High short interest sales represent potential buying pressure, since all short sales must eventually be covered by the purchase of shares. As of Jly 21, short interest on the NYSE stood at a record 4.126 billion. Haskell said if the stock market is indeed correcting, the short interest level will "serve as some kind of floor." So where does all this leave the U.S. markets? In the short-term, most index traders expect the S&P 500 and Dow to hold at relatively high levels or move upward. Elliot Kauffman, president of Kauffman Financial Futures in Wayne, Pa., says a top is coming, but he's been reluctant to short the market. - -----Original Message----- From: Tom Worley To: canslim@xmission.com Date: Monday, August 10, 1998 4:57 PM Subject: [CANSLIM] Noise on "M" >For those members that don't believe "economics, Japanese leadership, >currency devaluation by Japan and/or China, its effects on Latin >America, Asian recession, lack of demand for crude oil by Asia, Asian >demand for consumer products by US multi-national corps, etc " are a >factor in the "M" evaluation of the US mkt, then please disregard this >intrusion into your email system. > >For the rest of the members of this "CANSLIM" group, Asia is once >again in the dumpster overnight, the yen has broken 146 to the upside >against the US dollar, and the Japanese Nikkei 225 index is down >another 195 points (1.24%). The problems of the Japanese recession is >not going away under present leadership, and is likely to persist for >several years or more without another change in leadership. Meanwhile >the Asian flu will continue to prevent a resumption in demand for >crude oil supplies, the very thing needed (along with true production >cuts) to help crude prices recover, and provide stability to Latin >American oil producers such as Venezuela (now down 55% so far this >year). > >The US economy continues to be supported by US consumer demand, >however that demand is being supported by borrowed money, now at >record highs. Personal bankruptcies are continuing to set new records, >and that's without any real pullback in the US economy, consumer >sentiment, employment layoffs, etc. > >My level of confidence in the ability of this market to progress had >steadily diminished over the past several months as earnings growth >has declined. I remain fully invested on the long side, but find far >fewer issues that are attractive. > >I called a bottom to the latest correction based on Thursday's >trading, but cannot determine at this time whether we will see a quick >recovery (unlikely), a consolidation at this level (more likely), or a >new correction commencing (least likely). Any quick recovery needs to >finally be accompanied by some mkt breadth, which was sorely lacking >in the last advance. > >As far as I am concerned, there are some serious impediments to any >legitimate or sustained rally at this point. > >Tom W > > > >- > - - ------------------------------ Date: Mon, 10 Aug 1998 10:29:05 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] HI-EPSRS spreadsheet Scott, I downloaded the "example" spreadsheet once (many, many months ago). I think that for the price (it's very affordable IMO) is a good service. I didn't get it because it was my goal to be able to do my own scanning and charting and because the spreadsheet was so big, I was quite difficult (read: slow) to handle in Excel 97. Maybe it works better with Excel 4, as they recommended. If you are new to CANSLIM and do not have a lot of time, but still want to do your own picking, I think it is a nice service they provide and at a reasonable cost. It was something like $80 for a year if I remember correctly. At 09:37 PM 09-08-98 -0400, you wrote: >Hey There, >Anyone out there seen and/or have an opinion on the product sold at >http://www.growthstockanalytics.com/ > >It seems to be a CANSLIM scan. > >Scott Vickery > > >- > > Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Mon, 10 Aug 1998 10:45:21 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Scanning for base structures (was: Charting/Screening Programs) >If you want, you can write a formula in WOWS that will enable you to >locate base structures. Don't know about other programs. > >--Db Does it go beyond the "scanning for stocks that have a maximum price variation of for example 25% in the last X weeks? I mean, does WOWS allow you to actually look for a "cup-and-handle", "double bottom W", "scaucer", etc? I sure this can be done in certain programs, but currently I think it is not trivial to write such scans, or am I grossly mistaken? Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Mon, 10 Aug 1998 15:48:19 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Noise on "M" Tom wrote: >For those members that don't believe "economics, Japanese leadership, >currency devaluation by Japan and/or China, its effects on Latin >America, Asian recession, lack of demand for crude oil by Asia, Asian >demand for consumer products by US multi-national corps, etc " are a >factor in the "M" evaluation of the US mkt, then please disregard this >intrusion into your email system. All the factors you mention have effects on the markets. Very few people will want to argue with that, I would think. Personally I also find that these factors are quite interesting. And I thank you for posting them. Your posts on these topics are concise, easy to read, and bring me up to speed on these issues quickly. Benefit: My bank director and friends regularily are impressed about my knowledge of the American market and the factors that influence it. As they say: In the land of the blind, one-eye is king... However (you were waiting for this, weren't you?) ;^) The beauty of the CANSLIM-based evalution of the Market, for me, lays in the simplicity of it. We have a fairly simple buy signal, after which we start buying. We also have reasonably simple sells signals, after which we start selling. All you need is a few index charts and the added help of bullish/bearish sentiment % numbers. No matter how good I become at evaluating all the economic etc related factors you mentioned in your post, my knowledge will not move the market north or south. All I can humbly do is watch for the trusty CANSLIM M-related buy/sell signals. Mind you, I too have a desire to understand all the factors you mentioned, but I choose to not let this knowledge interfere with the WON proven M-related buy/sell signals. The market can do what it wants (and it will), as fas as I am concerned. Whether I approve of what it is doing based on factors such as the ones you summed up, is immaterial to my buying/selling. Why would I want to do it any way else? >I remain fully invested on the long side, but find far >fewer issues that are attractive. > >I called a bottom to the latest correction based on Thursday's >trading, but cannot determine at this time whether we will see a quick >recovery (unlikely), a consolidation at this level (more likely), or a >new correction commencing (least likely). No one can determine that, AFAIK. Statisticly, based on what happened in previous market corrections/consolidations/pull-backs of this magnitude, we will most probably retest the recent lows. After that? We will just have to wait and see. Not that any strict CANSLIMers would care one way or the other, as he would already be in cash IMHO, waiting for a buy signal. >Any quick recovery needs to finally be accompanied by some mkt >breadth, which was sorely lacking in the last advance. Definately. If we want a sustainable rally this time, more stocks should participate in the rally. >As far as I am concerned, there are some serious impediments to any >legitimate or sustained rally at this point. Tom, all of the above is just my opinion. I have an opinion, just as you have one. I do hope you can respect mine as I do yours and that you let others use what works for them as I hope others let you use that what works for you. Basically what I'm trying to get across is that I hope you take the above for what it is: my opinion, not the law of the CANSLIM police. Please keep posting your economics etc infos and do not beat yourself up about whether or not everyone takes it as essential cansliMMM material or not. It could be that your posts are beneficial to others in ways that you or I can't even begin to imagine. BTW: love your subject line! As always: Have fun! Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Mon, 10 Aug 1998 07:53:26 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Scanning for base structures (was: Charting/Screening Programs) <> It's not trivial, and I assume WOWS could do it, though the formula would probably be pretty complicated. Since the universe of CS stocks is so limited, I don't know if writing such a formula and scanning with it would be worth the trouble. Since one winds up sifting through pretty much the same stocks over and over again, it's simpler to just pick your spot and wait for an entry point, rather than continually searching for the new and different. This is not to say that there's anything wrong with the latter approach. However, finding the buypoint is as much a matter of the convergence of MAs, the behavior of the MACD and stochastic (or whatever else you use), and the price and volume relationship as it is the pattern itself. In other words, it's a relatively simple matter to find buyable stocks by using these scans, then evaluating the overall pattern to determine whether in one's own mind the impending breakout will have very far to run. In other words, even when you find saucers and bases and so forth, you still have to babysit them until they're "ready". One may choose instead to find the stocks that are ready, then decide whether the pattern is constructive. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Mon, 10 Aug 1998 14:54:32 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] What's up with the oils? On Mon, 10 Aug 1998 01:23:12 EDT, you wrote: :make some money if you can.. or hold on to these and loose a lot. : Smart money shorted the oils when they faltered almost a year ago. Oils on the upside has been talked about but is not wise given current realities. Price of oil has steadily weakened although it's fallen more slowly than before. I doesn't look as though the price is going to go up apreciably any time soon. I (personally) will look elsewhere. Dan musicant@autobahn.org - - ------------------------------ Date: Mon, 10 Aug 1998 09:50:52 -0400 From: Peter Newell Subject: Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN SM, I use the following Quotes-Plus 2 scan two find new highs off a six week base. The nice thing with QP2 is that you can backtest (stock splits are a problem) and I will tell you this scan followed blindly is backtested to be even money, add in money management and some industry group analysis and chart review it does better, so its a good starting point, note: see what happens to your results if you buy a new high that opens higher the next day. I also have a few volatilty breakout scans I'll try to post latter, Seagate and some of the oils have been showing up on this with nice bottom patterns. Peter Newell scan follows - ----------------------------------------------------- integer ivol,ieps; string sdata,seps; exchange=NYSE,NASDAQ,AMEX; issuetype=COMMON; output="newhigh.lst"; if close(0) >= 12 and close(0)>max(-1,-250,cl)and vol(0) >= 90000 and max(-1,-30,cl) * .98 < max(-31,-220,cl) and qrs(0) >= 85 then ivol := ((vol(0)/avgvol(-1,-51))-1)*100; sdata := ivol; seps := "N/A"; if qtreps(0) > 0 and qtreps(-4) > 0 then ieps := ((qtreps(0)/qtreps(-4))-1)*100; seps := ieps; endif; sdata := sdata @ "," @ seps; seps := "N/A"; if qtreps(-1) > 0 and qtreps(-5) > 0 then ieps := ((qtreps(-1)/qtreps(-5))-1)*100; seps := ieps; endif; sdata := sdata @ "," @ seps; seps := "N/A"; if qtreps(-2) > 0 and qtreps(-6) > 0 then ieps := ((qtreps(-2)/qtreps(-6))-1)*100; seps := ieps; endif; sdata := sdata @ "," @ seps; seps := "N/A"; if qtreps(-3) > 0 and qtreps(-7) > 0 then ieps := ((qtreps(-3)/qtreps(-7))-1)*100; seps := ieps; endif; sdata := sdata @ "," @ seps; seps := "N/A"; if qtreps(-4) > 0 and qtreps(-8) > 0 then ieps := ((qtreps(-4)/qtreps(-8))-1)*100; seps := ieps; endif; sdata := sdata @ "," @ seps; seps := "N/A"; if qtreps(-5) > 0 and qtreps(-9) > 0 then ieps := ((qtreps(-5)/qtreps(-9))-1)*100; seps := ieps; endif; sdata := sdata @ "," @ seps; println symbol,",",close(0),",",vol(0),",",industrygroup,",",sdata; endif; - ---------------------------- > Thanks everyone for the resposne. Basically what I want to search for is > the stocks that are emerging from base patterns and to be able to give > good quality graphs so that I don't have to do the guess work. > Though CANSLIM supports only the near 52 week high stocks, I am not > convinced that they are the only stocks that will give good returns. > > Also, how can we go a little beyond CANSLIM to find the next Amazon and > Yahoo and the like. Some of my CANSLIM picks (like PURW) tanked and a > few others gave me very good returns. I remember when DELL was with an > EPS of 75 for quite some time. I guess what I want to find out is the > stocks that will be CANSLIM candidates in a couple of months or a year. > > Like someone said, "When everytime I thought I got the key to > Wallstreet, they changed the lock". - - ------------------------------ Date: Mon, 10 Aug 1998 10:33:00 -0500 (CDT) From: mckeener@ix.netcom.com Subject: [CANSLIM] Re: Noise on "M" You wrote: <> Tom, Thanks for your market analysis. Helps to looks at the broader picture. No comments since I pretty much agree with your thinking. This may be a good time to wait or invest minimally. Mary - - ------------------------------ Date: Mon, 10 Aug 1998 09:39:20 -0600 From: Warren Keuffel Subject: [CANSLIM] Mime-Version: 1.0 Db, >> Kathryn Staley's book has been recommended to me, but I haven't had a chance to read it. It's something like The Art of Selling Short. Amazon has it. Perhaps other group members have run across resources you might find useful. Thanks for the reference; have ordered it. At Amazon.com one of the reader reviews of this book said that Staley talks about "why shorting" but that an earlier book by Walker talks about "how to short" (i.e., strategies.) This latter book is out of print and not at the bibliofind site either. So I think a thread here on the subject of both how and why would be useful. One thing we might do is have a study group -- read Staley together and discuss it chapter by chapter. Dunno if this group would want to do that, but the concept has worked well in technical discussions that I've participated in. Warren Keuffel - - ------------------------------ Date: Mon, 10 Aug 1998 11:24:12 -0600 From: Chris Reid Subject: [CANSLIM] Date: Mon, 10 Aug 1998 13:22:45 -0400 As I said before, technology sectors have been up for a while and seem = to be heading higher, regardless of todays lack luster market as of = 1:12pm. Technology +0.50% .Computer Peripherals +0.60% .Computers+0.65% .Internet Products & Services+1.33%=20 .Networking+1.22% .Software & Services-0.07% - - ------------------------------ Date: Mon, 10 Aug 1998 11:26:30 -0600 From: Chris Reid Subject: [CANSLIM] Date: Mon, 10 Aug 1998 13:25:25 -0400 Someone mentioned construction, all sub sectors at a loss so far today: Materials & Construction -0.52% .Building Materials-0.81% .Cement-0.72% .Commercial Construction-1.11% .Engineering & Construction-1.26% .Home Builders-0.78% .Packaging-0.30% .Paper & Lumber-0.08%.Security-0.70% .Shipbuilding-3.11% .Waste Management-0.49% - - ------------------------------ Date: Mon, 10 Aug 1998 13:55:57 -0400 From: "Rathbun, Dan" Subject: [CANSLIM] Intro: Dan Rathbun Greetings, I've been lurking for a week or so now, and thought it was time that I say hello and ask for a little guidance. I'm a computer professional in the Boston area, and I'm extremely new to investing. I am rapidly absorbing book after book, and much of the Internet based information that I find. There is a dizzying amount of information available to be sure. I was particularly impressed with CANSLIM as a logical concept and would like to hone my abilities based on this strategy. I find that the explanations within the book lacked sufficient examples of how to determine when a stock has formed a proper base, as well as how to spot the various beneficial patterns within performance charts. While I fade back to the land of the lurkers waiting for the day when I finally have something to add to the conversation, can you point me to some resources that might help to clarify these concepts? - -Dan Rathbun IS Operations Manager ENSR - - ------------------------------ Date: Mon, 10 Aug 1998 14:08:42 -0400 From: Peter Newell Subject: Re: [CANSLIM] Intro: Dan Rathbun Dan, I like to review the best stocks for each market cycle, ie from Jan 26ish till now and review what happened. I'd also go back farther as time permits. I'd look at the chart of DELL. I'd also monitor the new highs with a 6+ week base with an RS of 85 or better usually get 2-10 stocks a day look at the chart see what happens. This last run probably had a little more speculation in it that before, ie stocks with lower EPS did better. I'd also get my hands on IBD 26 weeks with Bill O'Neil (they are on week five). They made an important point in this weeks series where Bill O'neil says the best stocks break out first during a new run, DELL did this on 4/?/97 dropped back and broke out again 5/2/96. And the rest is history. Peter Newell - ---------- > From: Rathbun, Dan > To: 'canslim@lists.xmission.com' > Subject: [CANSLIM] Intro: Dan Rathbun > Date: Monday, August 10, 1998 1:55 PM > > Greetings, > > I've been lurking for a week or so now, and thought it was time that I > say hello and ask for a little guidance. > > I'm a computer professional in the Boston area, and I'm extremely new to > investing. I am rapidly absorbing book after book, and much of the Internet > based information that I find. There is a dizzying amount of information > available to be sure. > > I was particularly impressed with CANSLIM as a logical concept and would > like to hone my abilities based on this strategy. I find that the > explanations within the book lacked sufficient examples of how to determine > when a stock has formed a proper base, as well as how to spot the various > beneficial patterns within performance charts. > > While I fade back to the land of the lurkers waiting for the day when I > finally have something to add to the conversation, can you point me to some > resources that might help to clarify these concepts? > > -Dan Rathbun > IS Operations Manager > ENSR > > - - - ------------------------------ Date: Mon, 10 Aug 1998 11:32:22 PDT From: "S Menon" Subject: Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN Thanks Peter. Is this a QP-2 programming language ? If not, where do you get the input data from ? Thanks Sm >From owner-canslim@lists.xmission.com Mon Aug 10 08:15:34 1998 >Received: from domo by lists.xmission.com with local (Exim 1.82 #1) > id 0z5teL-0002oo-00; Mon, 10 Aug 1998 09:14:17 -0600 >Received: from (pm02sm.pmm.mci.net) [208.159.126.151] > by lists.xmission.com with esmtp (Exim 1.82 #1) > id 0z5teH-0002ku-00; Mon, 10 Aug 1998 09:14:13 -0600 >Received: from pnewell (usr58-dialup49.mix2.Atlanta.mci.net) > by PM02SM.PMM.MCI.NET (PMDF V5.1-10 #27034) > with ESMTP id <0EXH00OU6BLWCF@PM02SM.PMM.MCI.NET> for > canslim@lists.xmission.com; Mon, 10 Aug 1998 15:13:11 +0000 (GMT) >Date: Mon, 10 Aug 1998 09:50:52 -0400 >From: Peter Newell >Subject: Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN >To: canslim@lists.xmission.com >Message-id: <0EXH00OU9BLXCF@PM02SM.PMM.MCI.NET> >MIME-version: 1.0 >X-Mailer: Microsoft Internet Mail 4.70.1155 >Content-type: text/plain; charset=ISO-8859-1 >Content-transfer-encoding: 7bit >X-MSMail-Priority: Normal >X-Priority: 3 >Sender: owner-canslim@lists.xmission.com >Precedence: bulk >Reply-To: canslim@lists.xmission.com >X-No-Archive: yes > >SM, > >I use the following Quotes-Plus 2 scan two find new highs off a six week >base. > >The nice thing with QP2 is that you can backtest (stock splits are a >problem) and I will tell you this scan followed blindly is backtested to be >even money, add in money management and some industry group analysis and >chart review it does better, so its a good starting point, note: see what >happens to your results if you buy a new high that opens higher the next >day. > >I also have a few volatilty breakout scans I'll try to post latter, Seagate >and some of the oils have been showing up on this with nice bottom >patterns. > >Peter Newell >scan follows > >----------------------------------------------------- >integer ivol,ieps; >string sdata,seps; >exchange=NYSE,NASDAQ,AMEX; >issuetype=COMMON; >output="newhigh.lst"; >if close(0) >= 12 and close(0)>max(-1,-250,cl)and vol(0) >= 90000 and > max(-1,-30,cl) * .98 < max(-31,-220,cl) and qrs(0) >= 85 then > ivol := ((vol(0)/avgvol(-1,-51))-1)*100; > sdata := ivol; > > seps := "N/A"; > if qtreps(0) > 0 and qtreps(-4) > 0 then > ieps := ((qtreps(0)/qtreps(-4))-1)*100; > seps := ieps; > endif; > > sdata := sdata @ "," @ seps; > > seps := "N/A"; > if qtreps(-1) > 0 and qtreps(-5) > 0 then > ieps := ((qtreps(-1)/qtreps(-5))-1)*100; > seps := ieps; > endif; > > sdata := sdata @ "," @ seps; > > seps := "N/A"; > if qtreps(-2) > 0 and qtreps(-6) > 0 then > ieps := ((qtreps(-2)/qtreps(-6))-1)*100; > seps := ieps; > endif; > > sdata := sdata @ "," @ seps; > > seps := "N/A"; > if qtreps(-3) > 0 and qtreps(-7) > 0 then > ieps := ((qtreps(-3)/qtreps(-7))-1)*100; > seps := ieps; > endif; > > sdata := sdata @ "," @ seps; > > seps := "N/A"; > if qtreps(-4) > 0 and qtreps(-8) > 0 then > ieps := ((qtreps(-4)/qtreps(-8))-1)*100; > seps := ieps; > endif; > > sdata := sdata @ "," @ seps; > > seps := "N/A"; > if qtreps(-5) > 0 and qtreps(-9) > 0 then > ieps := ((qtreps(-5)/qtreps(-9))-1)*100; > seps := ieps; > endif; > > sdata := sdata @ "," @ seps; > > println symbol,",",close(0),",",vol(0),",",industrygroup,",",sdata; >endif; > >---------------------------- >> Thanks everyone for the resposne. Basically what I want to search for is >> the stocks that are emerging from base patterns and to be able to give >> good quality graphs so that I don't have to do the guess work. >> Though CANSLIM supports only the near 52 week high stocks, I am not >> convinced that they are the only stocks that will give good returns. >> >> Also, how can we go a little beyond CANSLIM to find the next Amazon and >> Yahoo and the like. Some of my CANSLIM picks (like PURW) tanked and a >> few others gave me very good returns. I remember when DELL was with an >> EPS of 75 for quite some time. I guess what I want to find out is the >> stocks that will be CANSLIM candidates in a couple of months or a year. >> >> Like someone said, "When everytime I thought I got the key to >> Wallstreet, they changed the lock". > >- > > ______________________________________________________ Get Your Private, Free Email at http://www.hotmail.com - - ------------------------------ Date: Mon, 10 Aug 1998 14:58:16 -0400 From: Peter Newell Subject: Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN > Thanks Peter. Is this a QP-2 programming language ? If not, where do you > get the input data from ? > Yes, the data comes from QP2 and qp2 has data back to 1990 with QRS(there version of RS back to 1994). Peter - - ------------------------------ Date: Mon, 10 Aug 1998 17:45:21 -0400 From: Scott Vickery Subject: Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN Peter, Do you know where I can get more info on Quotes-Plus 2? I tried doing a search and got links to all kinds of quote site (like quotes from movies, poems, famous people, etc.). Scott Peter Newell wrote: > SM, > > I use the following Quotes-Plus 2 scan two find new highs off a six > week > base. - - ------------------------------ Date: Mon, 10 Aug 1998 18:12:22 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] More Noise on "M" Dean, Best "unofficial" estimates is the extent of bad bank loans/repossessed property valued on the books over true mkt value is close to or exceeding one billion dollars (US). The "officially or quasi officially accepted" levels are also in the 600 to 700 billion level, and are considered by many to be quite conservative. Tom W - -----Original Message----- From: Dean Edwards To: canslim@xmission.com Date: Monday, August 10, 1998 8:32 AM Subject: Fw: [CANSLIM] More Noise on "M" >Tom, > Two independent sources have confirmed that Japan has between US >$600-700 billion dollars worth of "bad" bank loans to write off. Presumably >a combination of loans on shares and Japanese property. It will takes years >to correct a bubble that has burst of this magnitude - - ------------------------------ Date: Mon, 10 Aug 1998 18:46:56 -0400 From: Peter Newell Subject: Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN Scott, Yes, www.quotes-plus.com and www.qp2.com you can order thru their 800 number not sure the web site is updated but it is shipping. Peter - ---------- > From: Scott Vickery > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Charting/Screening Programs - QP2 NH BREAKOUT SCAN > Date: Monday, August 10, 1998 5:45 PM > > Peter, > Do you know where I can get more info on Quotes-Plus 2? I tried doing a > search and got links to all kinds of quote site (like quotes from > movies, poems, famous people, etc.). > > Scott > > Peter Newell wrote: > > > SM, > > > > I use the following Quotes-Plus 2 scan two find new highs off a six > > week > > base. > > > > > - - - ------------------------------ Date: Mon, 10 Aug 1998 16:14:18 -0700 From: Talib Hirji Subject: Re: [CANSLIM] Re: Shorts I am also interesed as & when this the list on SHORTS materializes. Thanks, Talib At 09:53 PM 7/26/98 -0500, you wrote: >Db, > >I'm interested. > >Mary > > >- > > - - ------------------------------ Date: Mon, 10 Aug 1998 19:06:44 -0400 From: "Tom Worley" Subject: [CANSLIM] On "oils" groups A report released today by a monitoring agency confirmed the suspicions of many that OPEC and non-OPEC oil producers would fail to cut back their production to promised levels. A cutback totalling 2.6 million barrels/day was pledged between the March and June meetings, but actual July production by OPEC showed only a 1.4 million barrel/day reduction. And increases by Iraq and Indonesia reduced the net reductions to only 360,000 barrels a day. Granted, the cuts promised in June would be difficult to fully achieve by July, however the July production suggests to me that the cuts promised in March were not even achieved, and were largely offset by other countries increases. Meanwhile, the stock mkt in Venezuela, among other oil export dependent nations, dropped another 4.8% today alone. The oil glut continues, along with (associated) low pricing. This does not bode well for the oil sectors short term, at least. Tom W - - ------------------------------ Date: Mon, 10 Aug 1998 18:36:54 -0700 (PDT) From: TM Subject: Re: [CANSLIM] On "oils" groups "The oil glut continues, along with (associated) low pricing. This does not bode well for the oil sectors short term, at least." Where I live, the O&G Integrated Companies have not really reduced prices at the pump. In addition, many of them are now selling bread, soap, kleenix, milk, coffee, etc.- things it is a pain to make a quick stop at the supermarket for. It is almost a resurgence of Mom and Pop grocery operations. In addition, service even to the extent of collecting money for the gas, really doesn't exist. People pump their own gas and use credit cards for the most part. I'm watching for earnings "surprises". TM - ---Tom Worley wrote: > > A report released today by a monitoring agency confirmed the > suspicions of many that OPEC and non-OPEC oil producers would fail to > cut back their production to promised levels. A cutback totalling 2.6 > million barrels/day was pledged between the March and June meetings, > but actual July production by OPEC showed only a 1.4 million > barrel/day reduction. And increases by Iraq and Indonesia reduced the > net reductions to only 360,000 barrels a day. Granted, the cuts > promised in June would be difficult to fully achieve by July, however > the July production suggests to me that the cuts promised in March > were not even achieved, and were largely offset by other countries > increases. > > Meanwhile, the stock mkt in Venezuela, among other oil export > dependent nations, dropped another 4.8% today alone. > > The oil glut continues, along with (associated) low pricing. This does > not bode well for the oil sectors short term, at least. > > Tom W > > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Mon, 10 Aug 1998 19:31:26 -0700 From: "Mike Lucero" Subject: [CANSLIM] daily charts intraday Does anyone know of a web site or program that will show daily charts that include a bar for today before the market closes? This is all I've found: quote.com livechart: free, but you can't draw even an MA iqc iqchart: $25/month, but kinda flaky data, and almost nonexistant support linnsoft investor/rt: $40/month, but answers mail; requires data feed (I'm using Interquote delayed for $20/month) Have I missed any? I don't see why this should be so hard to find, unless I'm the only one that wants this feature. Am I wasting my time looking at the market near the end of day? Should I content myself with EOD data only? I thought I would save myself money by not placing market orders for the open, but perhaps I'm worrying about nothing. I already use QP2, Metastock, and DailyGraphs. Thanks, Mike Lu - - ------------------------------ Date: Mon, 10 Aug 1998 23:31:20 -0400 From: Craig Griffin Subject: Re: [CANSLIM] daily charts intraday Mike, $$$$ - TC2000 will do it. As many times a day as you want, you can download the entire days data and scan it and chart it. It is about twice the cost of QP2, if my memory is correct. But I have thought it would be nice to scan for gap ups and breakouts across the whole market intraday and then look at a chart and maybe place a buy. Al French uses it and can probably verify or correct any errors in what I have said. Free - Wall Street City (aka Telescan). I always start at the following url from my bookmarks and then enter the stock I want: http://host.telescan.com/wsc/timespan.html?TSym=NASD?233,15 It is not great, but it does allow you to see a simple chart including today's trading so far. Free - Iqc.Com. Scroll down to the "Intraday Technical Charts" link. http://www.iqc.com/ Once you get to the charting page - look in the upper left corner for the Java Charts link. Give that one a try as well. I really like this one. But not sure what moving averages they are using. I think it is updated intraday, but not sure. (Is this the same one you had at $25 monthly? I didn't see a charge.) Free - Marketplayer.com http://www.marketplayer.com/ You have to register for a userid and password. I think their Java charts are updated intraday, but not sure. If not - there is a link to a "Mach 6" application which is free for intraday - but I have not explored this link. Free - Waterhouse http://www.waterhouse.com/public.html Simple (VERY) intraday charts of the type found several places on the net. Get a slightly different view of the same thing from Schwab at http://www.schwab.com/SchwabNOW/SNLibrary/SNLib041/SN041.html Bigcharts will draw intraday charts http://www.bigcharts.com/ Choose the "Interactive Chart" button and then select time frame. This one is Not what you asked for - but take a look at the cool market snapshot here. Pass your pointer over the market graph to see value and time. Then select "Chart Center" from the selections to the right for more cool stuff. http://www.smartmoney.com/smt/markets/bulletin/ Hope something here helps. Best regards, Craig - - ------------------------------ End of canslim-digest V2 #354 ***************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.