From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #884 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 Wednesday, April 26 2000 Volume 02 : Number 884 In this issue: Re: [CANSLIM] M [CANSLIM] Follow through from what start day? Re: [CANSLIM] M Re: [CANSLIM] M Re: [CANSLIM] M Re: [CANSLIM] M Re: [CANSLIM] M Re: [CANSLIM] M RE: [CANSLIM] DGO List - Part one PLXS (was Re: [CANSLIM] M) [CANSLIM] O'Neill Follow Through Re: [CANSLIM] O'Neill Follow Through Re: [CANSLIM] M [CANSLIM] a few stocks Re: [CANSLIM] M RE: [CANSLIM] M Re: [CANSLIM] M Re: [CANSLIM] O'Neill Follow Through [CANSLIM] Re: follow thru day? Re: [CANSLIM] M Re: [CANSLIM] DGO List - Part one RE: [CANSLIM] Follow through's Re: [CANSLIM] Re: follow thru day? Re: [CANSLIM] DGO List - Part one ---------------------------------------------------------------------- Date: Tue, 25 Apr 2000 13:13:58 -0700 (PDT) From: Pritish Shah Subject: Re: [CANSLIM] M Follow through happens 4 through 7 days *after* a start of a rally. I would say that this is the start of a rally. Regards, Shah On Tue, 25 Apr 2000, Werner Vandewiele wrote: > Looks like a follow thru day to me folks! > > On the Nasdaq that is. > > Up more than 1% on volume higher than the previous day, right? > > > Regards, > > <<< Werner Vandewiele >>> > > > - > > - - ------------------------------ Date: Tue, 25 Apr 2000 16:43:27 -0700 From: han.26@osu.edu Subject: [CANSLIM] Follow through from what start day? >>Looks like a follow thru day to me folks! On the Nasdaq that is. Up more than 1% on volume higher than the previous day, right? Regards, Werner Vandewiele << Werner, what day are you counting from as the beginning to which today is a follow through? I have assumed that since there have been distribution days in between, we would have to begin counting [yet] again, today, Tues 4/25/00, being day one. Anyone else see it Werner's way too? (If so, maybe I need to reread HTMMIS chapter on M yet again.) - -Jim-- - - ------------------------------ Date: Tue, 25 Apr 2000 15:55:16 -0500 From: "walter nusbaum" Subject: Re: [CANSLIM] M Shah, I believe this is a follow through day. However, WON says that you can't tell much on the 1st or 2nd day of a rally, and that *confirmation*(another follow through day) usually occurs on the 4th through the 7th day(as you noted). You're right. It is the start of a rally. Best wishes, Walt - ----- Original Message ----- From: "Pritish Shah" To: Sent: Tuesday, April 25, 2000 3:13 PM Subject: Re: [CANSLIM] M > > Follow through happens 4 through 7 days *after* a start of a rally. > > I would say that this is the start of a rally. > > Regards, > Shah > > On Tue, 25 Apr 2000, Werner Vandewiele wrote: > > > Looks like a follow thru day to me folks! > > > > On the Nasdaq that is. > > > > Up more than 1% on volume higher than the previous day, right? > > > > > > Regards, > > > > <<< Werner Vandewiele >>> > > > > > > - > > > > > > > - > - - ------------------------------ Date: Tue, 25 Apr 2000 23:13:37 +0200 From: Werner Vandewiele Subject: Re: [CANSLIM] M This is the 6th day after the recent EOD low (3321.29). We are up more than 1% on volume that is higher than the previous day. Volume is not THAT much higher, but good enough to be good for a reasonable FT day. Last I saw volume was 7% higher than yesterday. don't have final number yet. This a follow thru day folks. Time to hit the books again, if ya don't believe me. At 01:13 PM 25-04-00 -0700, you wrote: >Follow through happens 4 through 7 days *after* a start of a rally. > >I would say that this is the start of a rally. > >Regards, >Shah > >On Tue, 25 Apr 2000, Werner Vandewiele wrote: > > > Looks like a follow thru day to me folks! > > > > On the Nasdaq that is. > > > > Up more than 1% on volume higher than the previous day, right? > > > > > > Regards, > > > > <<< Werner Vandewiele >>> > > > > > > - > > > > > > >- Regards, <<< Werner Vandewiele >>> - - ------------------------------ Date: Tue, 25 Apr 2000 14:29:50 -0700 From: Tim Fisher Subject: Re: [CANSLIM] M Werner, you are right on. From IBD's web site: Wait For Market To Confirm Fresh Rally By Ed Carson February 4, 2000 When you're about to make a big decision, it's a good idea to get a second opinion. The stock market isn't any different. It's tempting to start buying as soon as the market looks like it's bottomed. But don't jump back in right away. Wait until a follow-through move confirms the new uptrend. - --->A rally attempt begins when one or more of the major market indexes has a positive day following a correction. Often the average will hit new lows intraday before roaring back to close higher. That was Monday, 4/17, NASDAQ hit the intraday low and closed over 3500 after opening near the low. "Don't start buying yet. Rally attempts often fail, and the market will sink to new lows. Wait for a confirmation that the market has truly turned." - --->Start counting from the first positive day. The market action on the second and third days usually doesn't matter as long as the average remains above its intraday lows. That would also be Monday, 4/17, Day 1. Today is Day 5. - --->Look for a follow-through move on the fourth through seventh day. A follow-through day occurs when a major index rises 1% or more on higher volume than the prior day. If there is volume, today is the follow-through on the NASDAQ. I don't have access to volume figures. Follow-throughs are no guarantee a rally will thrive. But no major advance has started without one. Those that occur after the 10th day suggest the rally may be weak. Confirmed rallies that fail usually come crashing down a day or two after the follow-through. During last year's summer correction, there were confirmed rallies in late August and early October of 1999, though neither was impressive. Both failed within days. Finally, the S&P 500 bottomed on Oct. 18, 13.1% off its old high. The big-cap index fell early that day, but recovered to close up 6.72 points at 1254.13. That was day one. On Oct. 27, the eighth day, the S&P rose 1.2% on somewhat higher volume. That qualified as a follow-through, but by itself didn't inspire much confidence. Unlike the prior attempts, though, other indicators suggested the market had bottomed. The put/call volume ratio peaked at 0.93 on Oct. 15, the day before the market bottomed and the highest level in a year. When investor sentiment turns excessively bearish, it's usually a bullish sign. On Oct. 28, the S&P 500 surged 3.5% on heavy volume as the Dow industrials and the Nasdaq staged their own follow-throughs. From their follow-through confirmations, the S&P 500 rose 14%, the Dow climbed 11% and the Nasdaq surged 50%. Savvy investors moved right away. Leading stocks started blowing out of bases on the confirmation session and in the weeks that followed. Keep track of the major averages every day on Investor's Business Daily's "General Markets & Sectors" page. Read "The Big Picture" on the same page for daily market analysis. On 02:13 PM 4/25/00, Werner Vandewiele Said: >This is the 6th day after the recent EOD low (3321.29). > We are up more than 1% on volume that is higher than the previous day. > Volume is not THAT much higher, but good enough to be good for a > reasonable FT day. Last I saw volume was 7% higher than yesterday. don't > have final number yet. > >This a follow thru day folks. Time to hit the books again, if ya don't >believe me. > > >At 01:13 PM 25-04-00 -0700, you wrote: > >>Follow through happens 4 through 7 days *after* a start of a rally. >> >>I would say that this is the start of a rally. >> >>Regards, >>Shah >> >>On Tue, 25 Apr 2000, Werner Vandewiele wrote: >> >> > Looks like a follow thru day to me folks! >> > >> > On the Nasdaq that is. >> > >> > Up more than 1% on volume higher than the previous day, right? >> > >> > >> > Regards, >> > >> > <<< Werner Vandewiele >>> >> > >> > >> > - >> > >> > >> >> >>- > >Regards, > ><<< Werner Vandewiele >>> > > >- Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Tue, 25 Apr 2000 14:45:08 -0700 From: Subject: Re: [CANSLIM] M Werner, I also believe it was a follow thru day today...day 6 of the rally that began 5 days ago...I believe that rally was still in effect unless the intraday low of 5 days ago was undercut and it wasn't. I also called IBD's education line and asked if this was day 6 of the current rally and considered a F/T day by them...and they responded that is was and when I explained my above thinking they replied "you got it!" Regards, Ziggy Werner Vandewiele wrote: > Looks like a follow thru day to me folks! > > On the Nasdaq that is. > > Up more than 1% on volume higher than the previous day, right? > > Regards, > > <<< Werner Vandewiele >>> > > - - - ------------------------------ Date: Tue, 25 Apr 2000 14:54:07 -0700 From: Tim Fisher Subject: Re: [CANSLIM] M P.S. I see many potential "leaders blowing out of bases" today. AMD has been for a week; AC, APH, AXE, ADCT, ADBE, ALTR, APCC, are all within a hair of their 52-week highs, and indeed most closed at their closing all-time highs. I don't think you need to go past the "A's" to find the new leadership. In case you feel the need to, PLXS, POOL, TER, TNL, are all at new highs. PWR & VSH are basing. FWIW the following are all 80/80/80/ABC and are within 15% of the 52-wk high: AC ADBE ALTR AMK AMKR APCC APH AXE AZZ BARZ CHP CVG EMC ESIO FII HC HDI HH NLCS PHG PLMD PLXS POOL PWR TER TNL VSH WDR Disc: I own not nearly enough of these, namely ADBE & AMD. On 02:13 PM 4/25/00, Werner Vandewiele Said: >This is the 6th day after the recent EOD low (3321.29). > We are up more than 1% on volume that is higher than the previous day. > Volume is not THAT much higher, but good enough to be good for a > reasonable FT day. Last I saw volume was 7% higher than yesterday. don't > have final number yet. > >This a follow thru day folks. Time to hit the books again, if ya don't >believe me. > > >At 01:13 PM 25-04-00 -0700, you wrote: > >>Follow through happens 4 through 7 days *after* a start of a rally. >> >>I would say that this is the start of a rally. >> >>Regards, >>Shah >> >>On Tue, 25 Apr 2000, Werner Vandewiele wrote: >> >> > Looks like a follow thru day to me folks! >> > >> > On the Nasdaq that is. >> > >> > Up more than 1% on volume higher than the previous day, right? >> > >> > >> > Regards, >> > >> > <<< Werner Vandewiele >>> >> > >> > >> > - >> > >> > >> >> >>- > >Regards, > ><<< Werner Vandewiele >>> > > >- Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Tue, 25 Apr 2000 17:39:52 -0500 From: "walter nusbaum" Subject: Re: [CANSLIM] M Werner, Tim, & Ziggy, Werner, thanks for starting the thread. Tim, thanks for the detailed explanation. Ziggy, thanks for your initiative in calling IBD. At last, I think I've got it! In HTMMIS, WON talks about a "second confirmation". He also talks about a "first indication" of a market bottom, but is not clear(to me) what the "first confirmation" is. I have erroneously held in my mind that a 2nd follow through was the 2nd "confirmation". I see now that his first "indication" is also his first "confirmation". I wish he had worded that a little differently, but thanks to you guys, now I've got it! Best wishes, Walt - ----- Original Message ----- From: To: Sent: Tuesday, April 25, 2000 4:45 PM Subject: Re: [CANSLIM] M > Werner, I also believe it was a follow thru day today...day 6 of > the rally that began 5 days ago...I believe that rally was still > in effect unless the intraday low of 5 days ago was undercut and > it wasn't. > > I also called IBD's education line and asked if this was day 6 of > the current rally and considered a F/T day by them...and they > responded that is was and when I explained my above thinking they > replied "you got it!" > > Regards, > Ziggy > > Werner Vandewiele wrote: > > > Looks like a follow thru day to me folks! > > > > On the Nasdaq that is. > > > > Up more than 1% on volume higher than the previous day, right? > > > > Regards, > > > > <<< Werner Vandewiele >>> > > > > - > > > - > - - ------------------------------ Date: Tue, 25 Apr 2000 18:02:05 -0500 From: "Dwayne Andras" Subject: RE: [CANSLIM] DGO List - Part one I need advice... I can bet on the answer.... I was thinking on subscribing to DGO. I am an IBD sub. but I get it a day late. What are the pros and cons of the DGO... All comments welcome. Thanks Dwayne P. Andras MSN, CCRN, RN, CS, ACNP, APRN DeeAndras@cajun.net - - ------------------------------ Date: Tue, 25 Apr 2000 19:12:05 -0400 From: Hugh Fader Subject: PLXS (was Re: [CANSLIM] M) Of the stocks you mention, PLXS broke out of a six-week double bottom today. CANSLIM stats are exceptional: RS 94, EPS 95, GRS A, SMR A, A/D A. ROE is 20% with no debt. 16% fund ownership, 8% management ownership. Accelerating EPS growth of 2%, 19%, 44% for last three quarters. With the exception of the last few weeks, has had support from it 50 day MA since November. Only negative I see is it is not in the top 5 of its group Elec-Semiconductor Mfg. Anybody see something I don't? Regards, Hugh Tim Fisher wrote: > P.S. I see many potential "leaders blowing out of bases" today. AMD has > been for a week; AC, APH, AXE, ADCT, ADBE, ALTR, APCC, are all within a > hair of their 52-week highs, and indeed most closed at their closing > all-time highs. I don't think you need to go past the "A's" to find the new > leadership. In case you feel the need to, PLXS, POOL, TER, TNL, are all at > new highs. PWR & VSH are basing. > - - ------------------------------ Date: Tue, 25 Apr 2000 19:23:11 -0400 From: "Dave Rubin" Subject: [CANSLIM] O'Neill Follow Through Today counts as a follow through of the rally that began last Monday. It is on the 5th day and breadth is also increasing. But O'Neill also said that the market needs more consolidation time. So should this follow-through be ignored? - - ------------------------------ Date: Tue, 25 Apr 2000 18:44:51 -0700 From: Subject: Re: [CANSLIM] O'Neill Follow Through Hi Dave, WON counts the first day of the rally attempt as day 1...monday day 1...tues 2...wed 3...thur 4...mon 5 and today is day 6 and was a F/T day. As far as your other comment as to whether or not it should be ignored...that is a good question. It is true that WON has been saying that the market needs more consolidation time and more bearish sentiment before we turn...so at least at this point we don't know. WON says (in lesson 14, page 81 of 24 ELFIS) "About 20% of the time they (F/T day) can give a false buy signal, which is fairly easy to recognize after a few days, because the market will usually promptly and noticeably fail on large volume."... "However, most true 'follow-throughs' will usually show strong positive action on good volume either the day after the 'follow-through' or several days later." So I guess the jury is still out...I personally will be looking for valid B/O's and will began putting my foot in the water if I find some that look good. However I too am a little skeptical of this particular rally and will not as yet be "gung ho" but rather squeeze in gently. Regards, Ziggy Dave Rubin wrote: > Today counts as a follow through of the rally that began last Monday. It is > on the 5th day and breadth is also increasing. > > But O'Neill also said that the market needs more consolidation time. So > should this follow-through be ignored? > > - - - ------------------------------ Date: Tue, 25 Apr 2000 19:41:59 -0600 From: "Patrick Wahl" Subject: Re: [CANSLIM] M One more opinion, I am not a subscriber to Trading markets, but went to the front page anyway, this was the quote under the Kevin Marder link - An O'Neil follow-through day in the Naz, replete with superb participation So sounds like Marder thinks it was a follow through day. On 25 Apr 00, at 17:39, walter nusbaum wrote: > Werner, Tim, & Ziggy, > Werner, thanks for starting the thread. Tim, thanks for the detailed > explanation. Ziggy, thanks for your initiative in calling IBD. > > At last, I think I've got it! In HTMMIS, WON talks about a "second > confirmation". He also talks about a "first indication" of a market bottom, > but is not clear(to me) what the "first confirmation" is. > > I have erroneously held in my mind that a 2nd follow through was the 2nd > "confirmation". I see now that his first "indication" is also his first > "confirmation". > I wish he had worded that a little differently, but thanks to you guys, now > I've got it! > Best wishes, > Walt > > ----- Original Message ----- > From: > To: > Sent: Tuesday, April 25, 2000 4:45 PM > Subject: Re: [CANSLIM] M > > > > Werner, I also believe it was a follow thru day today...day 6 of > > the rally that began 5 days ago...I believe that rally was still > > in effect unless the intraday low of 5 days ago was undercut and > > it wasn't. > > > > I also called IBD's education line and asked if this was day 6 of > > the current rally and considered a F/T day by them...and they > > responded that is was and when I explained my above thinking they > > replied "you got it!" > > > > Regards, > > Ziggy > > > > Werner Vandewiele wrote: > > > > > Looks like a follow thru day to me folks! > > > > > > On the Nasdaq that is. > > > > > > Up more than 1% on volume higher than the previous day, right? > > > > > > Regards, > > > > > > <<< Werner Vandewiele >>> > > > > > > - > > > > > > - > > > > > > - > - - ------------------------------ Date: Tue, 25 Apr 2000 20:06:02 -0600 From: "Patrick Wahl" Subject: [CANSLIM] a few stocks Here are some stocks whose charts looked pretty good to me today, some breakouts, of course, do some homework on these - IFIN CDWC APPB IMPH - - ------------------------------ Date: Tue, 25 Apr 2000 22:20:59 -0400 From: Walter Stock Subject: Re: [CANSLIM] M Following is part of Marder's article in TradingMarkets.com (best site on the net... pays for itself). Seems pretty clear he considers it a follow-through day: "An O'Neil follow-through day in the Naz, replete with superb participation. Volume, however, wasn't up to snuff. Monday's late turnaround and Tuesday's weighty move in the glamours are good examples of how quickly an oversold market can snap back. At all times, then, and no matter how grim the growth sector appears, it's important for the position trader to have a shopping list...a list of those names holding up better than the rest of the pack and, hopefully, forming bases. For when the bear market is definitively over, the best names will move out at an astonishingly rapid pace, many pausing for just days at a time before taking off anew... It's your job, as an intermediate player, to latch onto those issues showing the best tape action coming out of bases. Often, the biggest winners are the toughest to buy. These are the ones that give you scant time in which to establish a position before lifting off. By continually pruning and updating your watch list, you'll be positively ready when the time comes to take action from the long side... As spoken about in this space Monday, it's the semis, semi equipments, and other electronics-related groups that are now showing setups...the first setups seen in a number of weeks inside the growth complex. Not lots and lots of setups. But a few here and there, some of which were listed Monday in this space." Later in the article, Marder says that he "tiptoed" back into the market today, after being 100% cash for the past several weeks. Tomorrow, I may join him and stick my toe in. Sentiment numbers come out tomorrow and should be interesting. IBD will have them Thursday. Walter Stock Oakville, ON, Canada Patrick Wahl wrote: > One more opinion, I am not a subscriber to Trading markets, but went to > the front page anyway, this was the quote under the Kevin Marder link - > > An O'Neil follow-through day in the Naz, replete with superb participation > So sounds like Marder thinks it was a follow through day. - - ------------------------------ Date: Tue, 25 Apr 2000 22:19:22 -0400 From: Surindra Singh Subject: RE: [CANSLIM] M I am glad to see this list getting active again. It is a better sign historically than any of the follow through days described by our leader WON... Have a great trading. Surindra - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Patrick Wahl Sent: Tuesday, April 25, 2000 9:42 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] M One more opinion, I am not a subscriber to Trading markets, but went to the front page anyway, this was the quote under the Kevin Marder link - An O'Neil follow-through day in the Naz, replete with superb participation So sounds like Marder thinks it was a follow through day. On 25 Apr 00, at 17:39, walter nusbaum wrote: > Werner, Tim, & Ziggy, > Werner, thanks for starting the thread. Tim, thanks for the detailed > explanation. Ziggy, thanks for your initiative in calling IBD. > > At last, I think I've got it! In HTMMIS, WON talks about a "second > confirmation". He also talks about a "first indication" of a market bottom, > but is not clear(to me) what the "first confirmation" is. > > I have erroneously held in my mind that a 2nd follow through was the 2nd > "confirmation". I see now that his first "indication" is also his first > "confirmation". > I wish he had worded that a little differently, but thanks to you guys, now > I've got it! > Best wishes, > Walt > > ----- Original Message ----- > From: > To: > Sent: Tuesday, April 25, 2000 4:45 PM > Subject: Re: [CANSLIM] M > > > > Werner, I also believe it was a follow thru day today...day 6 of > > the rally that began 5 days ago...I believe that rally was still > > in effect unless the intraday low of 5 days ago was undercut and > > it wasn't. > > > > I also called IBD's education line and asked if this was day 6 of > > the current rally and considered a F/T day by them...and they > > responded that is was and when I explained my above thinking they > > replied "you got it!" > > > > Regards, > > Ziggy > > > > Werner Vandewiele wrote: > > > > > Looks like a follow thru day to me folks! > > > > > > On the Nasdaq that is. > > > > > > Up more than 1% on volume higher than the previous day, right? > > > > > > Regards, > > > > > > <<< Werner Vandewiele >>> > > > > > > - > > > > > > - > > > > > > - > - - - - ------------------------------ Date: Tue, 25 Apr 2000 20:33:12 -0600 From: Earl Setser Subject: Re: [CANSLIM] M I agree. By my reckoning, this was an FT day on all 3 indexes (assuming you felt one was needed for the S&P500 and Dow). I started counting on Monday last week as the first day of the rally. Today comes in as day 6. Yesterday's action was weak, but neither the intraday low or closing low from the "bottom" was violated. From our earlier conversations, I read this to say the rally was intact. Interestingly enough, IBD had some words this morning that talked about how the last 2 rallies were on lower volume and both failed. I believe the 2nd rally they mentioned was the one we have going. I discussed this with a friend as seeming a little premature for this latest rally. Hmm, I wonder what tomorrow's paper will say? Looking for breakouts today, I didn't really find anything on my list. One stock that may have broken out is my company, L3 Communications. I'm not recommending it (and probably won't add any to my very small holdings), but the action today looked pretty good. There are several stocks looking poised to move up if we get a quick confirmation of the FT day tomorrow. At 11:13 PM 4/25/00 +0200, you wrote: >This is the 6th day after the recent EOD low (3321.29). > We are up more than 1% on volume that is higher than the previous day. >Volume is not THAT much higher, but good enough to be good for a reasonable >FT day. Last I saw volume was 7% higher than yesterday. don't have final >number yet. > >This a follow thru day folks. Time to hit the books again, if ya don't >believe me. > > >At 01:13 PM 25-04-00 -0700, you wrote: > >>Follow through happens 4 through 7 days *after* a start of a rally. >> >>I would say that this is the start of a rally. >> >>Regards, >>Shah >> >>On Tue, 25 Apr 2000, Werner Vandewiele wrote: >> >> > Looks like a follow thru day to me folks! >> > >> > On the Nasdaq that is. >> > >> > Up more than 1% on volume higher than the previous day, right? >> > >> > >> > Regards, >> > >> > <<< Werner Vandewiele >>> >> > >> > >> > - >> > >> > >> >> >>- > >Regards, > ><<< Werner Vandewiele >>> > > >- > > > - - ------------------------------ Date: Tue, 25 Apr 2000 20:40:39 -0600 From: Earl Setser Subject: Re: [CANSLIM] O'Neill Follow Through At 06:44 PM 4/25/00 -0700, you wrote: Lots of good stuff and then.... >..I personally will be looking for valid B/O's >and will began putting my foot in the water if I find some that look good. >However I too am a little skeptical of this particular rally and will not as >yet be "gung ho" but rather squeeze in gently. > >Regards, >Ziggy > EXACTLY!!! I'm going to look at some candidates closely tonight, and look for some strong action tomorrow. Given good action, I might nibble into one position or two. This would put me at 33% invested. I don't think I want to move more than that until we see a better indication of leadership and a little more continuation of this rally. Protect that capital everyone!!! - - ------------------------------ Date: Tue, 25 Apr 2000 23:19:18 -0500 From: Harlan Pyan Subject: [CANSLIM] Re: follow thru day? Correct me if I'm wrong however all I've really seen thus far is that yesterday was a reversal day and today is day one of a 1234. As far as a follow thru day is concerned I'd have to say that we need to have a few things happen on the OTC 1. 4th thru 10th day see a 1% follow thru to the upside on good volume or should I say a 3 to 4% up day due to volitility. 2. A crossover of 3880 that was put in on last Tues. 3. And How bout the leadership (semi's) crossing over theyre downtrend lines since peaking, sure theyre bumping up against them now (some are some arent,mixed bag)but they need to stick above them for the next few days. 4. and most importantly no lack of SOLID BASING STUCTURES out there. I dont see enough of them out there to sustain a move of any magnitude currently. Anybody else see any? For now? All I really see is a highly emotional market and a lot of damage thats been done that isnt going to work itself off in a week or two. We need to establish all new basing structures before we can get to throw darts times again, at least intech land. I'd look at the OTC this way resistance 3880 support 3227 or an undercut. when you look at those two numbers and a chart of the OTC all you really have to know is that we'll be locked in a trading range for awhile most likely around those two numbers As for bright spots? POG,SII these are nice trendline trades that trade off of theyre 50day MAverages. Just food for thought. Hi TIM F! been awhile hey! Johan you still out there? Dan M Where have you been hiding ! Harlan Just a thought. - - ------------------------------ Date: Tue, 25 Apr 2000 23:44:23 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] M To add to this, in two days the DGO list already had 71 stocks on it, compared to last week's shortened total of 72, so by this weekend it could show solid growth, or at least a lot of congregating at or near highs. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - ----- Original Message ----- From: Tim Fisher To: Sent: Tuesday, April 25, 2000 5:54 PM Subject: Re: [CANSLIM] M P.S. I see many potential "leaders blowing out of bases" today. AMD has been for a week; AC, APH, AXE, ADCT, ADBE, ALTR, APCC, are all within a hair of their 52-week highs, and indeed most closed at their closing all-time highs. I don't think you need to go past the "A's" to find the new leadership. In case you feel the need to, PLXS, POOL, TER, TNL, are all at new highs. PWR & VSH are basing. FWIW the following are all 80/80/80/ABC and are within 15% of the 52-wk high: AC ADBE ALTR AMK AMKR APCC APH AXE AZZ BARZ CHP CVG EMC ESIO FII HC HDI HH NLCS PHG PLMD PLXS POOL PWR TER TNL VSH WDR Disc: I own not nearly enough of these, namely ADBE & AMD. On 02:13 PM 4/25/00, Werner Vandewiele Said: >This is the 6th day after the recent EOD low (3321.29). > We are up more than 1% on volume that is higher than the previous day. > Volume is not THAT much higher, but good enough to be good for a > reasonable FT day. Last I saw volume was 7% higher than yesterday. don't > have final number yet. > >This a follow thru day folks. Time to hit the books again, if ya don't >believe me. > > >At 01:13 PM 25-04-00 -0700, you wrote: > >>Follow through happens 4 through 7 days *after* a start of a rally. >> >>I would say that this is the start of a rally. >> >>Regards, >>Shah >> >>On Tue, 25 Apr 2000, Werner Vandewiele wrote: >> >> > Looks like a follow thru day to me folks! >> > >> > On the Nasdaq that is. >> > >> > Up more than 1% on volume higher than the previous day, right? >> > >> > >> > Regards, >> > >> > <<< Werner Vandewiele >>> >> > >> > >> > - >> > >> > >> >> >>- > >Regards, > ><<< Werner Vandewiele >>> > > >- Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - - - ------------------------------ Date: Tue, 25 Apr 2000 23:56:46 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] DGO List - Part one Dwayne, I can only speak for my requirements. I am not a IBD subscriber, but when I was it was waiting on the lawn in the morning with my local paper, so timeliness was not an issue. What do I dislike about DGO? Primarily its lack of searching/screening ability, tho the last upgrade they did improve this with more reports, and they are easily transportable into Excel or Lotus. I also want access to all stocks, and even the index to the books only includes the stocks in the books, not all stocks. I use another site for daily lists of stocks hitting new highs, not DGO. What do I like about DGO? It has every stock trading except preferred, mutual funds, warrants, units etc. Charts come up fast, and are current throughout the week (contrasting to the books weekly picture). Now every stock (not just those in the books) have both a chart and a data block display. The lists are easily sorted even if you don't have excel on a single column. You can scroll thru a list with just two keystrokes per stock. You can maintain your watch list there, and scroll thru it with just two keystrokes per stock (ok, I'm lazy, I hate having to type stock symbols every day). At $530/year, the cost is reasonable for the amount I use it. Customer service is the most responsive I have found on the net, often answering my concerns late at night or on the weekend. Data is consistent with what I am used to. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - ----- Original Message ----- From: Dwayne Andras To: Sent: Tuesday, April 25, 2000 7:02 PM Subject: RE: [CANSLIM] DGO List - Part one I need advice... I can bet on the answer.... I was thinking on subscribing to DGO. I am an IBD sub. but I get it a day late. What are the pros and cons of the DGO... All comments welcome. Thanks Dwayne P. Andras MSN, CCRN, RN, CS, ACNP, APRN DeeAndras@cajun.net - - - - ------------------------------ Date: Tue, 25 Apr 2000 23:28:43 -0700 (PDT) From: Luke Lang Subject: RE: [CANSLIM] Follow through's John, Here is my first attempt at a scan. It did confirm NASDAQ as a follow-through day today. I hope you find it useful. I welcome any suggestions. I am not very clear on the definition of a distribution day. If anyone can help to define it, I will try to write a scan. Best regards, Luke Lang PS: I tried to scan all stocks in QP2, but it kept on complaining about not being able to load more than 10 days. I don't know what the problems are. When I limit the scan to a smaller list of stock, it worked well. Input="luke.lst"; Output="lkfollow.lst"; Integer i, rallyday; DaysToLoad = 50; // proceed only if up 1% on higher volume If (Close(0) >= 1.01 * Close(-1)) and (Vol(0) > Vol(-1)) then rallyday := 0; // find first rally day, which is also up 1% on higher volume For i = -3 to -10 step -1 Do If (Close(i) >= 1.01 * Close(i-1)) and (Vol(i) > Vol(i-1)) and (rallyday = 0) then rallyday := i; endif; next i; // make sure the low on rally day is intact For i = 0 to rallyday+1 step -1 Do If Low(i) < Low(rallyday) then rallyday := 0; endif; next i; If not (rallyday = 0) then println symbol, ",", rallyday; endif; endif; - --- John Adair wrote: > > would you go ahead and place this formula into a > search. > another good search would be to pick out the stocks > which are undergoing > distribution. Perhaps you could help us with that > to. > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf > Of Luke Lang > Sent: Wednesday, April 12, 2000 1:12 AM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Follow through's > > > It seems to me that we should be able to quantify > what > constitutes a follow through day and write a scan > for > charting programs to identify it. I will take the > first stab at it. Please correct me if I'm wrong. > > I will use QP2's notation. Close(0) and Vol(0) are > today's closing price and volume. Close(-1) and > Vol(-1) are yesterday's close and volume. > > A follow through day is identified if all of the > following conditions are met: > 1) Close(0) >= 1.01 * Close(-1) => closing up by 1% > 2) Vol(0) > Vol(-1) => on higher volume > For i = 3 to 10, > 3) Close(-i) >= 1.01 * Close(-i-1) => first rally > attempt 3 to 10 days ago > 4) Vol(-i) > Vol(-i-1) => on higher volume > > Conditions 3) and 4) only have to be met for one day > between 3 and 10 days ago. > > Are there any other conditions that one should add? > Thanks. > > Best regards, > Luke Lang > __________________________________________________ Do You Yahoo!? Send online invitations with Yahoo! Invites. http://invites.yahoo.com - - ------------------------------ Date: Wed, 26 Apr 2000 01:22:28 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Re: follow thru day? Hi Harlan, A rally must start someplace, and I am persuaded that we presently meet the requirements of WON's rules. In addition to what has already been said about FT days, and where we count from, and how many days, etc., I would add that today's action did not undercut the most immediate intraday or closing lows; started at brief basing levels from before; closed above resistance levels from before; but also lacked the volume confirmations needed. If I was not already 100% invested (told you I was a risk taker), I would be inclined to wait a day or two at least and see if a trend develops. After all, this market has been marked by Naz up a near record one day, and down a near record the next. And Naz up while NYSE down, and vice versa. So one day clearly, despite the strong earnings reports, does not set a pattern. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - ----- Original Message ----- From: Harlan Pyan To: Sent: Wednesday, April 26, 2000 12:19 AM Subject: [CANSLIM] Re: follow thru day? Correct me if I'm wrong however all I've really seen thus far is that yesterday was a reversal day and today is day one of a 1234. As far as a follow thru day is concerned I'd have to say that we need to have a few things happen on the OTC 1. 4th thru 10th day see a 1% follow thru to the upside on good volume or should I say a 3 to 4% up day due to volitility. 2. A crossover of 3880 that was put in on last Tues. 3. And How bout the leadership (semi's) crossing over theyre downtrend lines since peaking, sure theyre bumping up against them now (some are some arent,mixed bag)but they need to stick above them for the next few days. 4. and most importantly no lack of SOLID BASING STUCTURES out there. I dont see enough of them out there to sustain a move of any magnitude currently. Anybody else see any? For now? All I really see is a highly emotional market and a lot of damage thats been done that isnt going to work itself off in a week or two. We need to establish all new basing structures before we can get to throw darts times again, at least intech land. I'd look at the OTC this way resistance 3880 support 3227 or an undercut. when you look at those two numbers and a chart of the OTC all you really have to know is that we'll be locked in a trading range for awhile most likely around those two numbers As for bright spots? POG,SII these are nice trendline trades that trade off of theyre 50day MAverages. Just food for thought. Hi TIM F! been awhile hey! Johan you still out there? Dan M Where have you been hiding ! Harlan Just a thought. - - - - ------------------------------ Date: Wed, 26 Apr 2000 06:02:25 -0700 (PDT) From: rolatzi Subject: Re: [CANSLIM] DGO List - Part one You could consider quotes plus as an alternative. It has extensive scanning capabilities, now has EPS and RS ratings (which I would like to compare to DGO) and is twenty something dollars a month with discounts for 6 month or 1 year subs. - --- Tom Worley wrote: > Dwayne, > > I can only speak for my requirements. I am not a IBD > subscriber, > but when I was it was waiting on the lawn in the morning > with my > local paper, so timeliness was not an issue. > > What do I dislike about DGO? Primarily its lack of > searching/screening ability, tho the last upgrade they > did > improve this with more reports, and they are easily > transportable > into Excel or Lotus. I also want access to all stocks, > and even > the index to the books only includes the stocks in the > books, not > all stocks. I use another site for daily lists of stocks > hitting > new highs, not DGO. > > What do I like about DGO? It has every stock trading > except > preferred, mutual funds, warrants, units etc. Charts come > up > fast, and are current throughout the week (contrasting to > the > books weekly picture). Now every stock (not just those > in the > books) have both a chart and a data block display. The > lists are > easily sorted even if you don't have excel on a single > column. > You can scroll thru a list with just two keystrokes per > stock. > You can maintain your watch list there, and scroll thru > it with > just two keystrokes per stock (ok, I'm lazy, I hate > having to > type stock symbols every day). At $530/year, the cost is > reasonable for the amount I use it. Customer service is > the most > responsive I have found on the net, often answering my > concerns > late at night or on the weekend. Data is consistent with > what I > am used to. > > Tom Worley > stkguru@netside.net > chat with me at ICQ # 5568838 > get ICQ software at http://www.icq.com/icqhomepage.html > > > ----- Original Message ----- > From: Dwayne Andras > To: > Sent: Tuesday, April 25, 2000 7:02 PM > Subject: RE: [CANSLIM] DGO List - Part one > > > I need advice... I can bet on the answer.... I was > thinking on > subscribing > to DGO. I am an IBD sub. but I get it a day late. What > are the > pros and > cons of the DGO... All comments welcome. > > Thanks > > > > > > Dwayne P. Andras MSN, CCRN, RN, CS, ACNP, APRN > > DeeAndras@cajun.net > > > > - > > > > - > __________________________________________________ Do You Yahoo!? Send online invitations with Yahoo! Invites. http://invites.yahoo.com - - ------------------------------ End of canslim-digest V2 #884 ***************************** 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.