From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #746 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 Thursday, November 18 1999 Volume 02 : Number 746 In this issue: RE: [CANSLIM] Changing MS Outlook to send text only... [CANSLIM] ZOMX [CANSLIM] Distribution Re: [CANSLIM] Distribution Re: [CANSLIM] Distribution Re: [CANSLIM] Distribution [CANSLIM] about CMTL Re: [CANSLIM] Watch List Re: [CANSLIM] about CMTL [CANSLIM] VIX [CANSLIM] Making your OWN decisions Re: [CANSLIM] Distribution RE: [CANSLIM] Distribution Re: [CANSLIM] Distribution Re: [CANSLIM] Distribution [CANSLIM]Test post [CANSLIM] RBAK Re: [CANSLIM] about CMTL Re: [CANSLIM] Making your OWN decisions Re: [CANSLIM] Making your OWN decisions RE: [CANSLIM] about CMTL RE: [CANSLIM] about CMTL RE: [CANSLIM] about CMTL RE: [CANSLIM] about CMTL Re: [CANSLIM] Distribution ---------------------------------------------------------------------- Date: Wed, 17 Nov 1999 11:19:31 -0800 From: "Jack Wood" Subject: RE: [CANSLIM] Changing MS Outlook to send text only... I think I saw an earlier message addressing this problem. I don't know which version of Outlook the earlier advice addressed. But, on the chance the version of Outlook with the the problem is Microsoft Outlook 2000 then the cure for the problem is slightly different: 1. To to Tool on the menu bar 2. Select Options in the sub-menu 3. When the Option dialog box appears click the Mail Format tab 4. The first section of the Mail Format screen has a subsection titled: "Message Format" 5. The instruction in the subsection reads: "Choose a format for outgoing mail and change advanced settings." 6. Immediately below that subsection is a selection box which states: "Send in this format:" Click the upside down triangle on the right of the selection box. Three options presents themselves: HTML, Microsoft Outlook Rich Text, and Plain Text. Select "Plain Text." 7. Immediately below that is a check box for using Microsoft Word as the e-mail editor. Uncheck the box selecting that option. That's all there is to it. It works because this message is being written and sent using Microsoft 2000. Jack Wood - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Salisbury Sent: Tuesday, November 16, 1999 2:38 PM To: canslim@xmission.com Subject: [CANSLIM] Changing MS Outlook to send text only... > Jeff, > > I'm using Microsoft exchange / Outlook running on Win NT 4.0 SP3. My > options are set to send text only. The automatic response shows my > message exactly as I sent it and then another copy of everything I > sent with HTML tags added. I have not had this problem with any of my > mail in the past. Do you have any suggestions? > Greetings my fellow canslim'rs, We have a member of our group who is having problems configuring Microsoft Outlook to send only text messages to canslim@xmission.com. If you remember, the canslim list software is configured to reject non-text messages such as HTML mail, binary attachments, etc. Since I'm not an Outlook user, I can't help here. Is there someone out there who jump in and help? If so, please reply to the group. Regards, Jeff - canslim admin/owner - - - - ------------------------------ Date: Wed, 17 Nov 1999 15:13:32 -0500 (EST) From: "Surindra J. Singh" Subject: [CANSLIM] ZOMX ZOMX is breaking out. Good canslim numbers as I recall. Regards Have a wonderful day. - - ------------------------------ Date: Wed, 17 Nov 1999 15:56:21 -0600 From: "David Squires" Subject: [CANSLIM] Distribution Hi all, 8 minutes to the close and it looks like we have a huge distribution day on our hands. Bullish sentiment has gone to +50 in the most recent Investor's Itel. survey. Good Trading, DSquires - - ------------------------------ Date: Wed, 17 Nov 1999 22:24:51 +0100 From: Johan Van Houtven Subject: Re: [CANSLIM] Distribution And in addition to all of this the NASDAQ is, or better was, near the maximum projected level for a core drive as defined by Ian Woodward. So at least a rest was to be expected. But even today many stocks are breaking out or are continuing their advance: ZOMX, NTAP, CMGI, GNET, INKT, AKAM, FFIV. So the bull market is still alive and well, but may rest for a while here. Time to be alert and what out for rotation, further distribution and buying opportunities (for short term traders). At 03:56 PM 11/17/99 -0600, you wrote: >Hi all, > >8 minutes to the close and it looks like we have a huge distribution day on >our hands. Bullish sentiment has gone to +50 in the most recent Investor's >Itel. survey. > >Good Trading, > >DSquires - -- Johan - - ------------------------------ Date: Wed, 17 Nov 1999 22:50:13 +0100 From: Johan Van Houtven Subject: Re: [CANSLIM] Distribution >8 minutes to the close and it looks like we have a huge distribution day on >our hands. Yup: NASDAQ says: 1.64 billion shares. A new all time record. The high was near the open and the low near the close. A distribution day of sorts. - -- Johan - - ------------------------------ Date: Wed, 17 Nov 1999 17:14:09 -0600 From: "walter nusbaum" Subject: Re: [CANSLIM] Distribution - ----- Original Message ----- From: Johan Van Houtven To: Sent: Wednesday, November 17, 1999 3:50 PM Subject: Re: [CANSLIM] Distribution > > > >8 minutes to the close and it looks like we have a huge distribution day on > >our hands. > > Yup: NASDAQ says: 1.64 billion shares. A new all time record. The high was > near the open and the low near the close. A distribution day of sorts. > > > > -- Johan Well, if I'm eyeballing the IBD correctly, that is the 3rd distribution day for the NASDAQ in the last twelve trading days; the 3rd for the S&P 500, and the *5th* for the DOW in the last *eleven* trading days. Does anyone know of anything that would allow us to disregard a distributation day(s), such as the news of the latest Fed increase that allowed the markets to function without the cloud of a "possible" rate increase? Best wishes, Walt - - ------------------------------ Date: Wed, 17 Nov 1999 18:56:30 -0600 From: "Richard Wohlers" Subject: [CANSLIM] about CMTL Hi, I bought some CMTL after it broke out and it has been in the tank for several days now. I left for KC for 3 days and should not have ignored the stock as it plunged below the 8% of initial purchase price. What do you folks think? Should I bail out and take my lumps or hang on and see if it will come back. Thanks! PS: I'm new to this stuff too! Richard - - ------------------------------ Date: Wed, 17 Nov 1999 18:53:42 -0800 From: Earl Setser Subject: Re: [CANSLIM] Watch List You are very welcome. I have been updating the list weekly, but given time constraints, I may only update it over 2 weeks at times. Good luck! At 12:00 PM 11/17/99 +0700, you wrote: >Earl, > >I want to thank you for continuing to post this watch list. It is very >valuable to me, as I am overseas and unable to get a look at Friday's IBD. > >Peter > >Earl Setser wrote: > >> Well, most of the stocks on this weeks list are in strong uptrends, but >> there are still some good stocks poised for moves (or should that be >> greatness?). The following list has 2 parts. The first part is stocks >> basing for at least 4 weeks. The second part is stocks that have recently >> broken out, but look like they might give a 2nd chance buy if you watch >> them closely. A couple of these just broke out Thursday or Friday. >> >> All stocks are from Friday's weekend update (85/85 or better), top 60 >> industry groups, B/B/B or better ratings, and A-C sponsorship rating. Do >> your own homework, and enjoy. >> >> FORR >> BBRC >> PMCS >> THQI >> TLAB >> VARL >> KRON >> VOD >> ZOMX >> ADVS >> >> TTIL >> CGN >> LLTC >> MCRL >> DIIG >> PROX >> BTGC >> CDWC >> JMED >> >> - > >-- >Peter Christiansen >Chiang Mai - Thailand > > > ><*> <*> > > > >- > > > - - ------------------------------ Date: Wed, 17 Nov 1999 19:10:47 -0800 From: Earl Setser Subject: Re: [CANSLIM] about CMTL I believe this is only the 2nd distribution day in the last 15 days for the NASDAQ. Friday was down on the NAS, but on much lower volume. IBD today did bring up the "4 or 5 distributions day in a week or two" as the warning sign. We are well short of that on the NASDAQ. For the DOW and the S&P 500, I get this being the 3rd distribution day in the last 11 trading days, and the first in the last 6 days. This certainly should be watched closely, but I think we are still okay for now. At 06:56 PM 11/17/99 -0600, you wrote: >Hi, I bought some CMTL after it broke out and it has been in the tank for >several days now. I left for KC for 3 days and should not have ignored the >stock as it plunged below the 8% of initial purchase price. What do you >folks think? Should I bail out and take my lumps or hang on and see if it >will come back. Thanks! PS: I'm new to this stuff too! > >Richard > > >- > > > - - ------------------------------ Date: Wed, 17 Nov 1999 19:30:54 -0800 (PST) From: rolatzi Subject: [CANSLIM] VIX The VIX index closed at 21.06 and displayed a relatively bearish sign by dropping below its Bollinger band intraday. When the latter occurs, the odds are statistically that the market will go down for the next 4 or 5 days. ciao, rolatzi __________________________________________________ Do You Yahoo!? Bid and sell for free at http://auctions.yahoo.com - - ------------------------------ Date: Wed, 17 Nov 1999 21:44:59 -0600 From: Dave Cameron Subject: [CANSLIM] Making your OWN decisions I'm not picking on Craig here, just using this post as an example of a point I want to make. Craig Griffin wrote (a month ago): > The market is not behaving in a way that has been seen in a long time, BUT, > it has behaved like this many times in the past. The market is showing > signs of a classic speculative top. These types of tops are typically > followed by a bear market of -25% to -50% from the top (about 30% is > typical I think) and lasting for several months. We have not seen this in > the US in at least a decade. All the signs point to us being in the first > month or two of one now. If correct, this will be a slow, grind them out > bear, not a quick, V type bear or correction like we have seen over the > last few years. > Then, lots of Craig wisdom snipped... Craig's comments are the classic example of why all of us need to be flexible and let the market tell us what to do. Craig is one of the most eloquent posters on this list. His comments are logical, well-thought out, and generally well-articulated. However... his paragraph above (and succeeding paragraphs which further brought home his main point) shows that as of a month ago, he believed that the signs pointed to a typical blow-off top - with a bear soon to come. If you'd begged out at that point, and stayed out, it would have been a mistake. Craig's analysis looked sound at the time; in fact one could STILL make a strong argument that it looks sound. But... I'm up 10+% since that time. I suspect many of you are up even more. What does this mean? Well... I'm a big advocate of reading everyone's thoughts - but making my own decisions based on my read. I'm generally pretty awful at reading the general market, but reasonably adept at reading individual stocks. I didn't get stopped out on too many stocks - so, I stayed in. If I'd had the sense to be 100% in - I'd have done even better. Craig's comments gave me a sense of caution - but only enough to not reinvest the stock that I sold. I post this, because there may be several newbies out there (there are a LOT of list members who don't post) that take all the eloquent stuff as gospel. Its not. I'm not a newbie; I've posted a lot in the past - just not much lately. I make a lot of mistakes. I do a lot of things right. But... I have to stick to my guns, make my own decisions, and weight everyone's observations to varying degrees. Dave Cameron dfcameron@ameritech.net - - ------------------------------ Date: Wed, 17 Nov 1999 21:40:59 -0800 (PST) From: Luke Lang Subject: Re: [CANSLIM] Distribution Walter, Today was the third down day in the last 15 days. But was it a "distribution" day? Isn't the definition of distribution down more than 1% AND having higher volume than the previous day? None of the three days were more than 1%. I'm not trying to nitpick here. I'm just trying to understand the term and decide whether we are in a period of profit taking, consolidation, or possible reversal. Thanks for any comments. Best regards, Luke Lang - --- walter nusbaum wrote: > > ----- Original Message ----- > From: Johan Van Houtven > To: > Sent: Wednesday, November 17, 1999 3:50 PM > Subject: Re: [CANSLIM] Distribution > > > > > > > > >8 minutes to the close and it looks like we have > a huge distribution day > on > > >our hands. > > > > Yup: NASDAQ says: 1.64 billion shares. A new all > time record. The high was > > near the open and the low near the close. A > distribution day of sorts. > > > > > > > > -- Johan > > Well, if I'm eyeballing the IBD correctly, that is > the 3rd distribution day > for the NASDAQ in the last twelve trading days; the > 3rd for the S&P 500, and > the *5th* for the DOW in the last *eleven* trading > days. > > Does anyone know of anything that would allow us to > disregard > a distributation day(s), such as the news of the > latest Fed increase that > allowed the markets to function without the cloud of > a "possible" rate > increase? > Best wishes, > Walt > > > > > > > > - > > __________________________________________________ Do You Yahoo!? Bid and sell for free at http://auctions.yahoo.com - - ------------------------------ Date: Wed, 17 Nov 1999 22:07:40 -0800 From: "mikelu" Subject: RE: [CANSLIM] Distribution It could be a distribution day even if it ended up over the previous day insignificantly. Mike - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Luke Lang Sent: Wednesday, November 17, 1999 9:41 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Distribution Walter, Today was the third down day in the last 15 days. But was it a "distribution" day? Isn't the definition of distribution down more than 1% AND having higher volume than the previous day? None of the three days were more than 1%. I'm not trying to nitpick here. I'm just trying to understand the term and decide whether we are in a period of profit taking, consolidation, or possible reversal. Thanks for any comments. Best regards, Luke Lang - --- walter nusbaum wrote: > > ----- Original Message ----- > From: Johan Van Houtven > To: > Sent: Wednesday, November 17, 1999 3:50 PM > Subject: Re: [CANSLIM] Distribution > > > > > > > > >8 minutes to the close and it looks like we have > a huge distribution day > on > > >our hands. > > > > Yup: NASDAQ says: 1.64 billion shares. A new all > time record. The high was > > near the open and the low near the close. A > distribution day of sorts. > > > > > > > > -- Johan > > Well, if I'm eyeballing the IBD correctly, that is > the 3rd distribution day > for the NASDAQ in the last twelve trading days; the > 3rd for the S&P 500, and > the *5th* for the DOW in the last *eleven* trading > days. > > Does anyone know of anything that would allow us to > disregard > a distributation day(s), such as the news of the > latest Fed increase that > allowed the markets to function without the cloud of > a "possible" rate > increase? > Best wishes, > Walt > > > > > > > > - > > __________________________________________________ Do You Yahoo!? Bid and sell for free at http://auctions.yahoo.com - - - - ------------------------------ Date: Thu, 18 Nov 1999 07:27:20 -0600 From: "walter nusbaum" Subject: Re: [CANSLIM] Distribution (SNIP) - ----- Original Message ----- From: Luke Lang To: Sent: Wednesday, November 17, 1999 11:40 PM Subject: Re: [CANSLIM] Distribution > Walter, > > Today was the third down day in the last 15 days. But > was it a "distribution" day? Isn't the definition of > distribution down more than 1% AND having higher > volume than the previous day? None of the three days > were more than 1%. > > I'm not trying to nitpick here. I'm just trying to > understand the term and decide whether we are in a > period of profit taking, consolidation, or possible > reversal. Thanks for any comments. > > Best regards, > Luke Lang Luke, Yes, you're correct about the volume, but WON makes no reference to percents for distribution days, only for days of accumulation when assessing market bottoms or turnarounds on follow-through days. The market does not even have to go down, but can remain the same or move slightly higher on very heavy volume to be a distribution day. While the market may be pointing presently to a reversal(we are getting close to the two week period when we can forget distribution days that occurred before then), IMHO if we get one it will be a "speed bump" type, and the market will be poised for another move up. (Please be advised that my opinion is worth exactly what you paid for it.) ;) Best wishes, Walt - - ------------------------------ Date: Thu, 18 Nov 1999 09:04:17 -0600 From: "David Squires" Subject: Re: [CANSLIM] Distribution Hi Luke, Increased volume with a 1% drop would definitely classify as distribution but this is the more obvious type of distribution. The more important type of distribution comes on a narrow range day with increased volume. This type of distribution is much less obvious and often missed. Yesterday the NASDAQ spent most of the day marginally up or marginally down(with an average true range of 68 points I would call 15 points marginal!) and traded massive volume.....this churning is VERY clear distribution. I should also note that the first day of distribution does not often mark the top but is a warning of a weakening market. DSquires - ----- Original Message ----- From: Luke Lang To: Sent: Wednesday, November 17, 1999 11:40 PM Subject: Re: [CANSLIM] Distribution > Walter, > > Today was the third down day in the last 15 days. But > was it a "distribution" day? Isn't the definition of > distribution down more than 1% AND having higher > volume than the previous day? None of the three days > were more than 1%. > > I'm not trying to nitpick here. I'm just trying to > understand the term and decide whether we are in a > period of profit taking, consolidation, or possible > reversal. Thanks for any comments. > > Best regards, > Luke Lang > > --- walter nusbaum wrote: > > > > ----- Original Message ----- > > From: Johan Van Houtven > > To: > > Sent: Wednesday, November 17, 1999 3:50 PM > > Subject: Re: [CANSLIM] Distribution > > > > > > > > > > > > > >8 minutes to the close and it looks like we have > > a huge distribution day > > on > > > >our hands. > > > > > > Yup: NASDAQ says: 1.64 billion shares. A new all > > time record. The high was > > > near the open and the low near the close. A > > distribution day of sorts. > > > > > > > > > > > > -- Johan > > > > Well, if I'm eyeballing the IBD correctly, that is > > the 3rd distribution day > > for the NASDAQ in the last twelve trading days; the > > 3rd for the S&P 500, and > > the *5th* for the DOW in the last *eleven* trading > > days. > > > > Does anyone know of anything that would allow us to > > disregard > > a distributation day(s), such as the news of the > > latest Fed increase that > > allowed the markets to function without the cloud of > > a "possible" rate > > increase? > > Best wishes, > > Walt > > > > > > > > > > > > > > > > - > > > > > > __________________________________________________ > Do You Yahoo!? > Bid and sell for free at http://auctions.yahoo.com > > - > - - ------------------------------ Date: Thu, 18 Nov 1999 09:32:24 -0500 (EST) From: chris dempsey Subject: [CANSLIM]Test post This is a test post. I'm the member who has been having problems posting to this group __________________________________________________ FREE Email for ALL! Sign up at http://www.mail.com - - ------------------------------ Date: Thu, 18 Nov 1999 10:23:17 -0600 From: "David Squires" Subject: [CANSLIM] RBAK Hi all, Those looking for an aggressive networking play may want to take a look at RBAK. It has built a 3 month base and has started a handle. Also, the daily range has narrowed.....this can sometimes lead to a range expansion....AKA a breakout. Good Trading, DSquires - - ------------------------------ Date: Thu, 18 Nov 1999 11:56:39 +0100 From: Johan Van Houtven Subject: Re: [CANSLIM] about CMTL At 06:56 PM 17-11-99 -0600, you wrote: >Hi, I bought some CMTL after it broke out and it has been in the tank for >several days now. I left for KC for 3 days and should not have ignored the >stock as it plunged below the 8% of initial purchase price. What do you >folks think? Should I bail out and take my lumps or hang on and see if it >will come back. Thanks! PS: I'm new to this stuff too! Richard, The correct (break-out) buy point was between 17 5/8 and 18 3/8 on volume. If one bought in this area one's 8% stop would not have been triggered yet. On the other hand, one should have taken some money of the table, as some sell rules came into effect. It went from 18 to 29.5 in a few days. That's approx 63% in 3 trading days. Smells like potential climatic action. In order to determine climatic action we must take a look at the volume pattern during the run-up. We see 4 days of increasing volume. On 11/10 the stock had its biggest intraday range of the advance on the biggest volume of the advance *and* it did not close near the high of the day. Combined with the 63% profit in 3 days, that is a clear warning sign. At that point it might be prudent to take some profits of the table. I'd sell at least 1/3 to 1/2 here. Why not sell all? One doesn't know what it will do after a few days. The next day, on 11/11, it opens near the high and then sells of again on relatively high volume. Another warning sign, that says take some money of the table. Yesterday it closed near the low on high volume. That's not what you would want to see. But it did bounce of the 18.5 horizontal support area and close right on the short term up-trend line. So there is some hope left. Combine this knowledge with the general market action, and it goes without saying that this stock needs to be watched very closely. Personally I'd sell what shares I had left and put the money to work somewhere else. But don' let that influence you since your time horizon and trading style might be very different from mine. Hope this helps a bit. - -- Johan - - ------------------------------ Date: Thu, 18 Nov 1999 12:13:40 +0100 From: Johan Van Houtven Subject: Re: [CANSLIM] Making your OWN decisions Dave, I've much to say about want you wrote, but have little time at the moment. So I might post a longer reply during the weekend. However, there is an important point I want to make right now. It is as important as the excellent point you made: One must make one's own decissions. Here comes my point: What is even more important than having an opinion like Craig, and I for that matter, had at that point in time? Being flexible. There is arguably nothing more important than that in investing. Craig was one of the first, maybe even the first to notice the follow through day! And from what I remember he took action when he saw the follow through day and all the accompanying stuff like break-out and leaders that were already on their way. THAT is important: Being able to change your mind rapidly if necessary. Flexibility is not to be confused with uncertainess, were you are the slave of your emotions and were you keep changing your mind for no logical or objective reason at all. I'm going to leave it that for now. Hope it is clear enough, even though I have much more to say on this matter. Regards, Johan At 09:44 PM 17-11-99 -0600, you wrote: >I'm not picking on Craig here, just using this post as an example >of a point I want to make. > >Craig Griffin wrote (a month ago): > >> The market is not behaving in a way that has been seen in a long time, BUT, >> it has behaved like this many times in the past. The market is showing >> signs of a classic speculative top. These types of tops are typically >> followed by a bear market of -25% to -50% from the top (about 30% is >> typical I think) and lasting for several months. We have not seen this in >> the US in at least a decade. All the signs point to us being in the first >> month or two of one now. If correct, this will be a slow, grind them out >> bear, not a quick, V type bear or correction like we have seen over the >> last few years. >> >Then, lots of Craig wisdom snipped... > >Craig's comments are the classic example of why all of us need to be >flexible and let the market tell us what to do. > >Craig is one of the most eloquent posters on this list. His comments >are logical, well-thought out, and generally well-articulated. However... >his paragraph above (and succeeding paragraphs which further brought >home his main point) shows that as of a month ago, he believed that the >signs pointed to a typical blow-off top - with a bear soon to come. >If you'd begged out at that point, and stayed out, it would have >been a mistake. Craig's analysis looked sound at the time; in fact >one could STILL make a strong argument that it looks sound. But... I'm >up 10+% since that time. I suspect many of you are up even more. > >What does this mean? Well... I'm a big advocate of reading everyone's >thoughts - but making my own decisions based on my read. I'm generally >pretty awful at reading the general market, but reasonably adept at >reading individual stocks. I didn't get stopped out on too many >stocks - so, I stayed in. If I'd had the sense to be 100% in - I'd >have done even better. Craig's comments gave me a sense of caution - >but only enough to not reinvest the stock that I sold. > >I post this, because there may be several newbies out there (there are >a LOT of list members who don't post) that take all the eloquent stuff >as gospel. Its not. I'm not a newbie; I've posted a lot in the >past - just not much lately. I make a lot of mistakes. I do a lot >of things right. But... I have to stick to my guns, make my own >decisions, and weight everyone's observations to varying degrees. > >Dave Cameron >dfcameron@ameritech.net > >- > > - -- Johan - - ------------------------------ Date: Thu, 18 Nov 1999 11:02:25 -0600 From: "John Adair" Subject: Re: [CANSLIM] Making your OWN decisions Hooray for Dave Cameron. Lets hear it for Dave - ----- Original Message ----- From: Dave Cameron To: Sent: Wednesday, November 17, 1999 9:44 PM Subject: [CANSLIM] Making your OWN decisions > I'm not picking on Craig here, just using this post as an example > of a point I want to make. > > Craig Griffin wrote (a month ago): > > > The market is not behaving in a way that has been seen in a long time, BUT, > > it has behaved like this many times in the past. The market is showing > > signs of a classic speculative top. These types of tops are typically > > followed by a bear market of -25% to -50% from the top (about 30% is > > typical I think) and lasting for several months. We have not seen this in > > the US in at least a decade. All the signs point to us being in the first > > month or two of one now. If correct, this will be a slow, grind them out > > bear, not a quick, V type bear or correction like we have seen over the > > last few years. > > > Then, lots of Craig wisdom snipped... > > Craig's comments are the classic example of why all of us need to be > flexible and let the market tell us what to do. > > Craig is one of the most eloquent posters on this list. His comments > are logical, well-thought out, and generally well-articulated. However... > his paragraph above (and succeeding paragraphs which further brought > home his main point) shows that as of a month ago, he believed that the > signs pointed to a typical blow-off top - with a bear soon to come. > If you'd begged out at that point, and stayed out, it would have > been a mistake. Craig's analysis looked sound at the time; in fact > one could STILL make a strong argument that it looks sound. But... I'm > up 10+% since that time. I suspect many of you are up even more. > > What does this mean? Well... I'm a big advocate of reading everyone's > thoughts - but making my own decisions based on my read. I'm generally > pretty awful at reading the general market, but reasonably adept at > reading individual stocks. I didn't get stopped out on too many > stocks - so, I stayed in. If I'd had the sense to be 100% in - I'd > have done even better. Craig's comments gave me a sense of caution - > but only enough to not reinvest the stock that I sold. > > I post this, because there may be several newbies out there (there are > a LOT of list members who don't post) that take all the eloquent stuff > as gospel. Its not. I'm not a newbie; I've posted a lot in the > past - just not much lately. I make a lot of mistakes. I do a lot > of things right. But... I have to stick to my guns, make my own > decisions, and weight everyone's observations to varying degrees. > > Dave Cameron > dfcameron@ameritech.net > > - > > - - ------------------------------ Date: Thu, 18 Nov 1999 10:05:20 -0800 From: "Jack Wood" Subject: RE: [CANSLIM] about CMTL Hi Richard: I, too, bought 500 shares of CMTL on 11/8/1999 at $18.813 per share. I sold all 500 shares on 11/17/99 at $19.063 a share because the price per share was declining dangerously close to the 7-8% level. I only made a small profit and only because of WON's rule of cutting losses. If I were you I'd bail out completely. Jack - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Richard Wohlers Sent: Wednesday, November 17, 1999 4:57 PM To: canslim@lists.xmission.com Subject: [CANSLIM] about CMTL Hi, I bought some CMTL after it broke out and it has been in the tank for several days now. I left for KC for 3 days and should not have ignored the stock as it plunged below the 8% of initial purchase price. What do you folks think? Should I bail out and take my lumps or hang on and see if it will come back. Thanks! PS: I'm new to this stuff too! Richard - - - - ------------------------------ Date: Thu, 18 Nov 1999 11:17:12 -0700 From: "Wahl, Patrick" Subject: RE: [CANSLIM] about CMTL > -----Original Message----- > From: Jack Wood [mailto:Jack_Wood@email.msn.com] > Sent: Thursday, November 18, 1999 11:05 AM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] about CMTL > > > Hi Richard: > > I, too, bought 500 shares of CMTL on 11/8/1999 at $18.813 per > share. I sold > all 500 shares on 11/17/99 at $19.063 a share because the > price per share > was declining dangerously close to the 7-8% level. I only made a small > profit and only because of WON's rule of cutting losses. Can't help jumping in here, this is a little bit confusing. I don't understand how you can say your shares were near the 8% loss level when they are above what you paid. Obviously 8% would put you down around 17.30 before you would be thinking about selling. The 8% rule applies only to the purchase price, not to any decline off of some higher price above what you paid. - - ------------------------------ Date: Thu, 18 Nov 1999 10:31:29 -0800 From: "Jack Wood" Subject: RE: [CANSLIM] about CMTL Hi Patrick: You're right. I forgot to cover the fact that as the price of the CMTL shares increased each day I would recalculate 8% on the new higher price. In other words I ratchet up my absolute sell level upon each advance of the stock. Sorry I confused everyone. Jack Wood - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Wahl, Patrick Sent: Thursday, November 18, 1999 10:17 AM To: 'canslim@lists.xmission.com' Subject: RE: [CANSLIM] about CMTL > -----Original Message----- > From: Jack Wood [mailto:Jack_Wood@email.msn.com] > Sent: Thursday, November 18, 1999 11:05 AM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] about CMTL > > > Hi Richard: > > I, too, bought 500 shares of CMTL on 11/8/1999 at $18.813 per > share. I sold > all 500 shares on 11/17/99 at $19.063 a share because the > price per share > was declining dangerously close to the 7-8% level. I only made a small > profit and only because of WON's rule of cutting losses. Can't help jumping in here, this is a little bit confusing. I don't understand how you can say your shares were near the 8% loss level when they are above what you paid. Obviously 8% would put you down around 17.30 before you would be thinking about selling. The 8% rule applies only to the purchase price, not to any decline off of some higher price above what you paid. - - - - ------------------------------ Date: Thu, 18 Nov 1999 13:44:36 -0500 From: Craig Griffin Subject: RE: [CANSLIM] about CMTL Johan wrote in responding to Richard: >We see 4 days of increasing volume. > > >On 11/10 the stock had its biggest intraday range of the advance on the >biggest volume of the advance *and* it did not close near the high of the >day. Combined with the 63% profit in 3 days, that is a clear warning sign. >At that point it might be prudent to take some profits of the table. I'd >sell at least 1/3 to 1/2 here. Why not sell all? One doesn't know what it >will do after a few days. Great analysis! Thanks for posting this. Patrick wrote in responding to Jack: >Can't help jumping in here, this is a little bit confusing. I don't >understand how you can say your shares were near the 8% loss level when they >are above what you paid. Obviously 8% would put you down around 17.30 >before you would be thinking about selling. The 8% rule applies only to the >purchase price, not to any decline off of some higher price above what you >paid. I agree. But O'Neil does say that once you are ahead 15% in a stock, you should not let it turn into a loss. I assumed that was what Jack was doing, selling before it could become a loss. Even if not, it was the right thing to do on that basis alone. Best Regards, Craig - - ------------------------------ Date: 18 Nov 1999 15:11:38 -0800 From: "Tim Fisher" Subject: Re: [CANSLIM] Distribution I see turkeys flying in the windstorm today. E.g. OMKT, ONSL, EGGS. Frankly, I'm scared and am tightening my stops significantly tonight. On 01:24 PM 11/17/99 , Johan Van Houtven Said: >And in addition to all of this the NASDAQ is, or better was, near the >maximum projected level for a core drive as defined by Ian Woodward. > >So at least a rest was to be expected. > >But even today many stocks are breaking out or are continuing their >advance: ZOMX, NTAP, CMGI, GNET, INKT, AKAM, FFIV. So the bull market is >still alive and well, but may rest for a while here. Time to be alert and >what out for rotation, further distribution and buying opportunities (for >short term traders). > >At 03:56 PM 11/17/99 -0600, you wrote: > >Hi all, > > > >8 minutes to the close and it looks like we have a huge distribution day on > >our hands. Bullish sentiment has gone to +50 in the most recent Investor's > >Itel. survey. > > > >Good Trading, > > > >DSquires > > >-- Johan > > > >- Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ End of canslim-digest V2 #746 ***************************** 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.