From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #165 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 Friday, March 27 1998 Volume 02 : Number 165 In this issue: [CANSLIM] Market Direction Re: [CANSLIM] Stock Charts and Relative Strength [CANSLIM] Market Makers and SOES trading Re: [CANSLIM] Stock Charts and Relative Strength [CANSLIM] help, I need to sell Re: [CANSLIM] Market Direction Re: [CANSLIM] Market Direction [CANSLIM] CHTT [CANSLIM] Re.DG-Online [CANSLIM] Market Direction Re: [CANSLIM] Re.DG-Online [CANSLIM] Opinion on ASND Re: [CANSLIM] Market Direction Re: [CANSLIM] Market Direction Re: [CANSLIM] Re.DG-Online Re: [CANSLIM] Stock Charts and Relative Strength Re: [CANSLIM] Stock Charts and Relative Strength Re: [CANSLIM] Market Makers and SOES trading [CANSLIM] Fw: Choices in Life (fwd) -Forwarded (totally non-CANSLIM) Re: [CANSLIM] help, I need to sell Re: [CANSLIM] Market Direction Re: [CANSLIM] Stock Charts and Relative Strength Re: [CANSLIM] Stock Charts and Relative Strength [CANSLIM] Head Count ---------------------------------------------------------------------- Date: Fri, 27 Mar 1998 09:20:05 -0500 From: Jeffry White Subject: [CANSLIM] Market Direction Tom wrote: > Date: Fri, 27 Mar 1998 06:55:02 -0500 > From: "Tom Worley" > Subject: Re: [CANSLIM] Market Direction > > Cuz NASDAQ, Russell 2000, and S&P100 were all up. > > Any statements or opinions are strictly my own and not that of my > employer. My comments should not be interpreted as a recommendation of > any kind. I am a licensed (inactive) broker and an active investor. > All investors should do their own research prior to any investment, > especially one learned about on the Internet. Hopefully my comments > will better inform and educate all investors. > tom w So what? - - ------------------------------ Date: Fri, 27 Mar 1998 08:26:53 -0600 From: "Joe Scott" Subject: Re: [CANSLIM] Stock Charts and Relative Strength This is a multi-part message in MIME format. - ------=_NextPart_000_0041_01BD595A.18E918A0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Trade-in time Joan,, get a PC don't know a thing joe - ------=_NextPart_000_0041_01BD595A.18E918A0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable

Trade-in time Joan,, get a PC

don't know a = thing
joe

- ------=_NextPart_000_0041_01BD595A.18E918A0-- - - ------------------------------ Date: Fri, 27 Mar 1998 07:21:16 -0800 From: "Patrick Wahl" Subject: [CANSLIM] Market Makers and SOES trading The following is from Forbes, its a bit long, sorry about that. Thought it might be of interest since I think most of us trade NASDAQ stocks. I've always thought the NASDAQ market makers were a bunch of crooks, and this article confirms that idea. Sounds like things have improved a bunch for the small investor. I do think I have noticed smaller bid and ask spreads myself. I think this is available online, I cut part of it, but if anyone is interested in the whole thing, might be at www.forbes.com. - ----------------------------------------------------------------- The Wall Street establishment calls them bandits. To ordinary investors they look more like Robin Hoods. Meet the guerrilla marketmakers who are helping squeeze down the cost of Nasdaq trading. Free enterprise comes to Wall Street By Matthew Schifrin with Scott McCormack IT'S JUST DOWN THE BLOCK from the New York Stock Exchange, at 50 Broad Street, but not nearly so grand. Take the elevator to the second floor and walk through a sparsely furnished office suite and you come to a dimly lit, makeshift trading room. There, from 9:30 a.m. to 4 p.m. each weekday, sit 50 people all males eyes firmly attached to monitors. The players are mostly under 30, wearing T shirts, blue jeans and baseball caps. They talk to one another even as they pound on the keyboards. More often they just stare intently or blurt insults at the screens. A videogame arcade? You could easily mistake it for one. In fact, a lot of money is changing hands in this guerrilla trading room where smart freelancers are competing against giant over-the-counter marketmakers like Merrill Lynch, Goldman, Sachs, Morgan Stanley, Knight Securities. These traders hope to get rich by shaving small slices off marketmaker spreads in o-t-c stocks like Dell, Amazon.com, Excite, Yahoo!, Intel and Microsoft. Thanks to market reforms inspired in part by FORBES' expos=E9s of excessive spreads in o-t-c markets (Aug.16, 1993; July 29, 1996)--these young, guerrilla marketmakers are often able to dance around the big players. Helped by fast, relatively inexpensive technology, they pick off eighths, sixteenths, thirty-seconds and even sixty-fourths of a point per share, but on tremendous volume. By the closing bell, most have sold out of all their positions, ready to do battle again in the morning. The young men in this room are only a fraction of the guerrilla marketmakers currently on the prowl. They are customers of a small brokerage firm, Broadway Trading. This outfit provides them with the hardware and software to make markets and charges them 2 cents a share in commissions on their trades. An affiliate trains them to day-trade for a $1,200 upfront fee. Other than that, the traders are on their own, playing with their own money. Last year Broadway's 300 customers, many trading from remote locations, accounted for more than 1 billion shares in Nasdaq trading volume-0.7% of its total. The establishment sneered at SOES bandits. Robin Hoods might be a better description, though the day-traders' motives were no more pure than the big brokers'. Other guerrilla marketmakers there are about 2,000 of them in all probably account for another 12% of Nasdaq volume. But it is not just the competition that irks the big brokerage houses. With their low overhead, the guerrilla marketmakers have helped narrow the fat trading spreads Nasdaq marketmakers have long wallowed in. For years, this is what happened if you wanted to buy or sell a Nasdaq stock: Your buy order went to a marketmaking firm, which charged you the offer side of the market, pocketing the difference between that price and the lower bid. This difference is the spread. The marketmakers rarely allowed customers to trade inside the spread, even if one customer was willing to pay the same price that another customer wanted to sell his stock for. It wasn't exactly a monopoly. It was more, shall we say, a closed game. The Securities & Exchange Commission finally pried the game open and let in people like Serge Milman. This crew-cut 25-year-old from Saint Petersburg, Russia is out to make a buck, but he and people like him are saving investors tens, possibly hundreds, of millions of dollars a year. Milman traded 30 million shares of stock last year and grossed about $1.4 million. After paying commissions to Broadway, Milman claims to have taken home $800,000 before taxes. Watch him in action. With the stroke of a key Serge buys 1,000 shares of ALCD. "What's that stock?" asks a visitor. "I have no idea, dude. It has a big spread, and it's moving. I like to get inside the market on those kinds of stocks," he says. A few minutes later he is out of ALCD, a hot biotech company, with a couple of thousand dollars in profit. In mid-March XCIT, the stock symbol for Internet search-engine company Excite, opened at around $50 per share. After a few minutes of trading it pulled back so that its bid was 49 3/8 and its offer was 49 3/4, a 3/8 spread. A spread like that is pure gold for people like Milman. Using software that links him directly to Nasdaq marketmakers and a private trading system called Island, Milman checked further. He discovered that there were three marketmakers on XCIT's bid and two on the offer. He figured XCIT would rebound. Taking advantage of the wide spread between bid and offer, he bid 49 7/16 for 1,000 sharesa 16th over the best marketmaker bid. (A 16th in marketmaker parlance is a "teenie.") In the past Milman's bid would not have appeared on the Nasdaq screens because official Nasdaq marketmakers posted bids at their discretion. Before the new SEC-mandated rules, marketmakers would often let limit orders pile up unexecuted unless the market rose or dropped to a point where they could get their accustomed spread. In the end the SEC decreed, in August 1996, that marketmakers were colluding and gouging the public. In December 1997 marketmakers agreed to pay $1 billion to settle a class action that investors brought. Equally important, the gates of Nasdaq were thrown wide open. The most important provisions of the rules force marketmakers to fill or broadcast a customer's limit orders to all other marketmakers on the Nasdaq system if it improves on the inside price. It also let private trading systems called ECNs (electronic communications networks) post their prices on the same system. No more can dealers sit on an order until it pays them their spread. - - ------------------------------ Date: Fri, 27 Mar 1998 10:38:12 -0500 (EST) From: "Surindra J. Singh" Subject: Re: [CANSLIM] Stock Charts and Relative Strength Apple is coming back. If you would have bought it and traded PC shares, you would have doubled your money in ~3 months....... ;-) On Fri, 27 Mar 1998, Joe Scott wrote: > Trade-in time Joan,, get a PC > > don't know a thing > joe > - - ------------------------------ Date: Fri, 27 Mar 1998 01:25:21 -0800 From: Mike Lucero Subject: [CANSLIM] help, I need to sell At this point, I feel the need to get off margin. Including SPY, I've got 23 different stocks! I've held 8 for 8 weeks. I've got over 20% profit in 5 others. How do you choose which to sell? I understand I should prune the weakest, but by what measure? The lowest RS, the lowest profit/week, the lowest up/down ratio, the flattest graph lately? Plus, I know I should take some profits - perhaps sell half the position when I've hit 20+%? Thanks in advance for your suggestions, Mike - - ------------------------------ Date: Fri, 27 Mar 1998 07:59:51 -0500 From: Kom Tukovinit Subject: Re: [CANSLIM] Market Direction Cut and paste from IBDO: ... NYSE trading totaled 603 million shares, up 10% from Wednesday. The Dow had soared 1,533 points, or 20.6%, from its intraday low on Jan. 12 to its peak on Wednesday. But on Wednesday it closed lower on an increase in volume. That indicates churning action, or distribution. Churning is often the first sign of a top. The S&P 500 index retreated 0.10%. The Nasdaq composite index advanced to a another new high by gaining 0.22%. Big Board declines edged advances 1,607 to 1,385. The Dow's ''kid stocks'' were among the stars of the day. ... > So what? > > - - - ------------------------------ Date: Fri, 27 Mar 1998 11:57:37 EST From: DCSquires Subject: Re: [CANSLIM] Market Direction In a message dated 98-03-27 11:02:34 EST, you write: << NYSE trading totaled 603 million shares, up 10% from Wednesday. >> I believe this is wrong. NYSE trading contracted from Wed. to Thur. by about 60 million shares. DSquires - - ------------------------------ Date: Fri, 27 Mar 1998 12:46:14 -0500 From: "Antista, Anthony" Subject: [CANSLIM] CHTT Does anyone have an opinion(or more info) on CHTT?? RS: 95 EPS: 97 A/D: A ADV 60,700 Yearly eps growth: 67%, quarterly: 20% Fiscal 1998 estimates (qtr ending 11/98) $1.00 (from IBD), $1.29 from Yahoo! ?? 1997 earnings .80 cents left side of cup formed late Feb. right side formed last week handle formed Past week.??? Qtr earnings due 4/2 Thanks, Tony - - ------------------------------ Date: Fri, 27 Mar 1998 15:17:40 EST From: JANSI1AUG1 Subject: [CANSLIM] Re.DG-Online Canslimmers', Thought this would be of interest. It's a reply to a query I sent to DG- Online. jans (The pertinent portion is as follows:) We are still making the final adjustments to our pricing schedule. You will not be charged for any of the time during our free beta testing period. You will start being billed the day you have to re-register when we go live. Hopefully next quarter. Daily Graphs Online - - ------------------------------ Date: Fri, 27 Mar 1998 16:04:12 -0500 From: Jeffry White Subject: [CANSLIM] Market Direction Well, Tom. All the indices are down today, with the exception of the Philadelphia Semiconductor Index and the Transports are up .01%. Is this a "distribution day" in your book, or do we have to have some newsworthy item like Saddam, Monica, Newt, Boris before we start thinking short term (at minimum) top? - - ------------------------------ Date: Fri, 27 Mar 1998 16:42:10 -0500 (EST) From: "Surindra J. Singh" Subject: Re: [CANSLIM] Re.DG-Online I am waiting for the day when DG Online will go live........... Imagine live quotes and live graphs!!!!!!!!!!! Regards Surindra On Fri, 27 Mar 1998, JANSI1AUG1 wrote: > Canslimmers', > > Thought this would be of interest. It's a reply to a query I sent to DG- > Online. > jans (The pertinent portion is as > follows:) > > We are still making the final adjustments to our pricing schedule. You > will not be charged for any of the time during our free beta testing period. > You will start being billed the day you have to re-register when we go live. > Hopefully next quarter. > > Daily Graphs Online > > - > > - - ------------------------------ Date: Fri, 27 Mar 1998 13:51:33 -0800 (PST) From: Anindo Majumdar Subject: [CANSLIM] Opinion on ASND Whats the opinion on ASND ? Up on strong volume. Broke through the 200 day MA. A play on the growth of the internet infrastructure buildout. Anindo - - ------------------------------ Date: Fri, 27 Mar 1998 16:48:24 -0500 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] Market Direction At 04:04 PM 3/27/98 -0500, Jeffry White wrote: >Well, Tom. All the indices are down today, with the exception of the >Philadelphia Semiconductor Index and the Transports are up .01%. Is >this a "distribution day" in your book, or do we have to have some >newsworthy item like Saddam, Monica, Newt, Boris before we start >thinking short term (at minimum) top? > >- Boris is in pretty bad shape! He is confused and appears to be floundering in his public appearances. Read a thread on Paladium/Platinum that stated concern over his health was having an effect on the price speculation. So Jeffry, care to venture a first shot at support for this market? Frank Wolynski ( I am often wrong, plan accordingly!) - - ------------------------------ Date: Fri, 27 Mar 1998 16:48:24 -0500 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] Market Direction At 04:04 PM 3/27/98 -0500, Jeffry White wrote: >Well, Tom. All the indices are down today, with the exception of the >Philadelphia Semiconductor Index and the Transports are up .01%. Is >this a "distribution day" in your book, or do we have to have some >newsworthy item like Saddam, Monica, Newt, Boris before we start >thinking short term (at minimum) top? > >- Boris is in pretty bad shape! He is confused and appears to be floundering in his public appearances. Read a thread on Paladium/Platinum that stated concern over his health was having an effect on the price speculation. So Jeffry, care to venture a first shot at support for this market? Frank Wolynski ( I am often wrong, plan accordingly!) - - ------------------------------ Date: Fri, 27 Mar 1998 18:47:57 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Re.DG-Online Yeah, right, dream on. I don't quite think that was what they meant by "live". More likely it refers to actually seeing some revenues from DGO. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - -----Original Message----- From: Surindra J. Singh To: canslim@lists.xmission.com Date: Friday, March 27, 1998 4:40 PM Subject: Re: [CANSLIM] Re.DG-Online >I am waiting for the day when DG Online will go live........... >Imagine live quotes and live graphs!!!!!!!!!!! > > >Regards > > >Surindra > >On Fri, 27 >Mar 1998, JANSI1AUG1 wrote: > >> Canslimmers', >> >> Thought this would be of interest. It's a reply to a query I sent to DG- >> Online. >> jans (The pertinent portion is as >> follows:) >> >> We are still making the final adjustments to our pricing schedule. You >> will not be charged for any of the time during our free beta testing period. >> You will start being billed the day you have to re-register when we go live. >> Hopefully next quarter. >> >> Daily Graphs Online >> >> - >> >> > > > >- > - - ------------------------------ Date: Fri, 27 Mar 1998 18:58:17 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Stock Charts and Relative Strength First year cost is supposed to be $720, more if paid other than annually. They have to be close to going commercial, haven't updated the software in over a month. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - -----Original Message----- From: Joe Scott To: canslim@lists.xmission.com Date: Friday, March 27, 1998 9:03 AM Subject: Re: [CANSLIM] Stock Charts and Relative Strength I'm all for a bargain, but I haven't heard anything as to when the beta ends, has anyone? What about this $99.00 deal your speaking of, I understood it would cost $75.00 per month after the beta. As to any savings we be may able to get as a group, what could we do? don't know a thing joe - - ------------------------------ Date: Fri, 27 Mar 1998 18:57:10 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Stock Charts and Relative Strength We need a head count of members of this group that would definitely sign up for one year of DG Online at $99/each (regardless of whether you are taking any other WON product). That looks like the least they will sell it to existing customer base. I suspect they won't agree to that price, since that's for customers already taking the weekly dual printed version, but it would be a starting point. You might also ask for a head count in staggered fees (e.g. how many at $99, how many under $200, how many under $300) so you have an idea of your negotiating power. Emphasize that this is a CANSLIM group, with 832 members between the regular and the digest subscribers, and has grown from about a hundred or so in just over a year. Also point out that we all use various charting (and some screening) services on the net and/or purchased separately, and the lack of screening ability at DGO lessens the value for us sophisticated investors. I would hope that most members would be willing to subscribe for at least the low figure ($99) so that we all have the ability to be looking at the same chart for discussion purposes, even if you have other preferred sites for charting. As a trade off, we could even allow them to run an ad once or twice a month, or even weekly, if the members don't mind. The key is numbers, the more we have, the more bargaining power, esp if they don't have to advertise to get us in the first place. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - -----Original Message----- From: Surindra J. Singh To: canslim@lists.xmission.com Date: Friday, March 27, 1998 8:43 AM Subject: Re: [CANSLIM] Stock Charts and Relative Strength >Any suggestions how to negotiate for this kind of bargain? > > >On Fri, 27 Mar >1998, Tom Worley wrote: > >> Count me in, if we could get a group rate of $99 each. With over 800 >> members in this group, I would think we might command some bargaining >> power if enough are interested. >> >> > > > >- > - - ------------------------------ Date: Fri, 27 Mar 1998 19:28:45 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Market Makers and SOES trading Most of what the Forbes article says is correct, but as is the usual case with Forbes, heavily slanted to the side they favor. Truth is, day traders have only helped the individual investor, or even the institutional, by adding liquidity and more competitive pricing. They are not investors, and since most intend to be flat (neither long nor short) at the end of the day, the rule follows that what goes in must come out, and usually to their profits. I don't have a problem with day traders, know several I like and appreciate Connie's contributions regularly to this group as just one example. I know I would go stir crazy trying to make a living they way they do (the one that leases space from my firm watches about 15 monitors nearly simultaneously, that would give me one gigantic headache by about 10AM). The new Order Display rules are an absolute boon to individual investors. Being able to watch a stock live, it is pure enjoyment for me to enter an order for my own acct, watch the bid or ask change if I am using a limit, then actually see the transaction I presume to be mine occur. Many times I have called back to Knight Securities (one of the firms mentioned and one I use all the time) for an execution report cuz I know I was just done but they didn't call me yet. On the other hand, I also respect the fact that the profits from market making accrued to the "big firms" help offset the costs of an analyst's salary, among other expenses. Without that analyst, we would be sorely lacking in earnings forecasts (a prime piece of both CANSLIM as well as source data for sites like First Call and Zack's). Already, because of the new Order Display rules, many wirehouses have sharply reduced both the number of stocks in which they make a market as well as the number of traders to handle those stocks. And, while it is certainly easier to trade within the spread since the new rules, I would strongly disagree with Forbes that it couldn't be done (for the most part) before the new rules. Long before the new rules, I traded many stocks within the spread, the difference now is I get represented to the entire marketplace, and usually get faster execution. BTW, I am trying to find out if Knight Securities (second largest market maker in NASDAQ stocks) offers online accts and trading. If I get the job I am seeking, likely will lose some of my mkt access, and I would hate to lose the services of Knight, they are the best I have ever found. From my own personal experience over the past 4 years running a back office for a BD and entering virtually every trade, the biggest problem prior to the new rules was an investor who was trying to buy on the bid and sell on the offer. Before the new rules these were rarely executed without a change in mkt pricing. However, the investor that just wanted to trim the spread, and still allow the mkt maker to make something off it, often was filled. But the fact remains, for those investors that rely on avg daily volume coupled with price move, you can be faked out by high volume generated solely by the day traders, not volume from investors where the stock will be put into the "right hands". If I were a "day trader" I would likely like this article, but I am an investor, I am looking to do more than "rent by the minute or hour" the stock. And the true market makers are also willing to carry inventory, both short and long, which goes a long way to stabilizing the mkt. The more the mkt volume is dominated by day traders, the more volatility we will be seeing as exemplified by "program trading". The bottom line for a day trader is to be out of every position by the end of the day, at any cost. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - -----Original Message----- From: Patrick Wahl To: canslim@lists.xmission.com Date: Friday, March 27, 1998 10:21 AM Subject: [CANSLIM] Market Makers and SOES trading The following is from Forbes, its a bit long, sorry about that. in this guerrilla trading room where smart freelancers are competing against giant over-the-counter marketmakers like Merrill Lynch, Goldman, Sachs, Morgan Stanley, Knight Securities. These traders hope to get rich by shaving small slices off marketmaker spreads in o-t-c stocks like Dell, Amazon.com, Excite, Yahoo!, Intel and Microsoft. relatively inexpensive technology, they pick off eighths, sixteenths, thirty-seconds and even sixty-fourths of a point per share, but on tremendous volume. By the closing bell, most have sold out of all their positions, ready to do battle again in the morning. though the day-traders' motives were no more pure than the big brokers'. 12% of Nasdaq volume. But it is not just the competition that irks the big brokerage houses. With their low overhead, the guerrilla marketmakers have helped narrow the fat trading spreads Nasdaq marketmakers have long wallowed in. For years, this is what happened if you wanted to buy or sell a Nasdaq stock: Your buy order went to a marketmaking firm, which charged you the offer side of the market, pocketing the difference between that price and the lower bid. This difference is the spread. The marketmakers rarely allowed customers to trade inside the spread, even if one customer was willing to pay the same price that another customer wanted to sell his stock for. It wasn't exactly a monopoly. It was more, shall we say, a closed game. The Securities & Exchange Commission finally pried the game open and let in people like Serge Milman. This Watch him in action. With the stroke of a key Serge buys 1,000 shares of ALCD. "What's that stock?" asks a visitor. "I have no idea, dude. It has a big spread, and it's moving. I like to get inside the market on those kinds of stocks," he says. A few minutes later he is out of ALCD, a hot biotech company, with a couple of thousand dollars in profit. discretion. Before the new SEC-mandated rules, marketmakers would often let limit orders pile up unexecuted unless the market rose or dropped to a point where they could get their accustomed spread - - ------------------------------ Date: Fri, 27 Mar 1998 19:40:14 -0500 From: "Tom Worley" Subject: [CANSLIM] Fw: Choices in Life (fwd) -Forwarded (totally non-CANSLIM) I'm not big on pep talks or motivational stuff, but this one seemed to touch me somehow. Maybe my recent willingness to accept some short term gains in the mkt, rather than getting greedy (the glass half full syndrome) made it more applicable. But still, well worth reading. tom w > Choices in Life > >Here is a motivational shot in the arm for everyone: >Jerry was the kind of guy you love to hate. He was always in a >good mood and always had something positive to say. When someone >would ask him how he was doing, he would reply, "If I were any >better, I would be twins!" He was a unique manager because he had >several waiters who had followed him around from restaurant to >restaurant. >The reason the waiters followed Jerry was because of his >attitude. He was a natural motivator. If an employee was having a bad >day, Jerry was there telling the employee how to look on the positive >side of the situation. >Seeing this style really made me curious, so one day I went up >to Jerry and asked him, "I don't get it! You can't be a positive >person all of the time. How do you do it?" >Jerry replied, "Each morning I wake up and say to myself, >Jerry, you have two choices today. You can choose to be in a good >mood or you can choose to be in a bad mood.' I choose to be in a good >mood. Each time something bad happens, I can choose to be a victim or >I can choose to learn from it. I choose to learn from it. >Every time someone comes to me complaining, I can choose to >accept their complaining or I can point out the positive side of >life. I choose the positive side of life." >"Yeah, right, but it's not that easy," I protested. >"Yes it is," Jerry said. "Life is all about choices. When you >cut away all the junk, every situation is a choice. >You choose how you react to situations. You choose how people >will affect your mood. You choose to be in a good or bad mood. The >bottom line: It's your choice how you live life." >I reflected on what Jerry said. >Soon thereafter, I left the restaurant industry to start my own >business. We lost touch, but I often thought about him when I >made a choice about life instead of reacting to it. Several years >later, I heard that Jerry did something you are never supposed to do >in a restaurant business: he left the back door open one morning and >was held up at gunpoint by three armed robbers. >While trying to open the safe, his hand, shaking from >nervousness, slipped off the combination. The robbers panicked and >shot him. Luckily, Jerry was found relatively quickly and rushed to >the local trauma center. After 18 hours of surgery and weeks of >intensive care, Jerry was released from the hospital with fragments >of the bullets still in his body. >I saw Jerry about six months after the accident. When I asked >him how he was, he replied, "If I were any better, I'd be twins. >Wanna see my scars?" >I declined to see his wounds, but did ask him what had gone >through his mind as the robbery took place. >"The first thing that went through my mind was that I should >have locked the back door," Jerry replied. "Then, as I lay on the >floor, I remembered that I had two choices: I could choose to live, >or I could choose to die. I chose to live." >"Weren't you scared? Did you lose consciousness?" I asked. >Jerry continued, "The paramedics were great. They kept telling >me I was going to be fine. But when they wheeled me into the >emergency room and I saw the expressions on the faces of the doctors >and nurses, I got really scared. >In their eyes, I read, 'He's a dead man.' I knew I needed to >take action." "What did you do?" I asked. >"Well, there was a big, burly nurse shouting questions at me," >said Jerry. "She asked if I was allergic to anything. 'Yes,' I >replied. The doctors and nurses stopped working as they waited for my >reply, I took a deep breath and yelled, 'Bullets!' Over their >laughter, I told them, "I am choosing to live. Operate on me as if I >am alive, not dead." >Jerry lived thanks to the skill of his doctors, but also >because of his amazing attitude. I learned from him that every day we >have the choice to live fully. Attitude, after all, is everything.. >You have 2 choices now: 1. Delete this mail, or, 2. Forward it >to others. Hope, you will choose choice 2. > - - ------------------------------ Date: Fri, 27 Mar 1998 19:46:58 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] help, I need to sell Mike, frankly, 23 stocks is too much unless you have a staff to assist you. Great diversification, but you might as well be your own mutual fund. How to identify the ones to sell? Good question, esp when you have so many. I would likely do several reviews. In one review, I would be looking for the ones that I have held the longest without any benefit (e.g. haven't performed overall). In the second review, I would be looking at the ones with the lowest RS. In the third review, I would be looking at the ones too extended to be supportable, short of a miraculous cash buyout. After that, I would hit the charts and see which ones look to be overvalued, and likely to correct, or look to be rolling over and likely to correct in loss territory. A lot of it depends on where you put your emphasis in terms of the 7 CS elements. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - -----Original Message----- From: Mike Lucero To: 'canslim@lists.xmission.com' Date: Friday, March 27, 1998 10:41 AM Subject: [CANSLIM] help, I need to sell >At this point, I feel the need to get off margin. Including SPY, I've got >23 different stocks! I've held 8 for 8 weeks. I've got over 20% profit in 5 >others. > >How do you choose which to sell? I understand I should prune the weakest, >but by what measure? The lowest RS, the lowest profit/week, the lowest >up/down ratio, the flattest graph lately? Plus, I know I should take some >profits - perhaps sell half the position when I've hit 20+%? > >Thanks in advance for your suggestions, > >Mike > > >- > - - ------------------------------ Date: Fri, 27 Mar 1998 20:13:05 -0500 From: "Tom Worley" Subject: Re: [CANSLIM] Market Direction Jeffrey, You posted a simple statement that a particular day was distributional. In hopes of learning from you, I asked you why. Your response was that certain indexes were down for the day, and why didn't I agree with you. I noted at the time that part of your reasoning was that NASDAQ closed in the lower half of the range for the day (yet still up almost a full percentage point), thus I felt it worth pointing out that some of the indexes you indicated as down were, in fact, up. Your response was "so what". I don't happen to view a single day, or even two or three (we are now down on the Dow 30 three consecutive days) as singularly proving distribution. Nor do I consider the Dow 30 as the best indicator of "M". Nor do I buy index funds, or options on the indexes, thus am more concerned whether a particular stock is distributional, than whether some index is. However, that said, I definitely don't consider "distribution" when a major index like the NASDAQ composite is up nearly a percentage point, and on respectable volume, and setting a new high, to prove distribution. You may believe this, that is your right, but I don't like your sarcasm, and will thus choose to hit the delete button in the future rather than the Reply to Author. I respect your right to your point of view, and attempted to learn from it. I don't appreciate the response. Any statements or opinions are strictly my own and not that of my employer. My comments should not be interpreted as a recommendation of any kind. I am a licensed (inactive) broker and an active investor. All investors should do their own research prior to any investment, especially one learned about on the Internet. Hopefully my comments will better inform and educate all investors. tom w - -----Original Message----- From: Jeffry White To: canslim@mail.xmission.com Date: Friday, March 27, 1998 4:04 PM Subject: [CANSLIM] Market Direction >Well, Tom. All the indices are down today, with the exception of the >Philadelphia Semiconductor Index and the Transports are up .01%. Is >this a "distribution day" in your book, or do we have to have some >newsworthy item like Saddam, Monica, Newt, Boris before we start >thinking short term (at minimum) top? > >- > - - ------------------------------ Date: Fri, 27 Mar 1998 20:22:10 -0500 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] Stock Charts and Relative Strength At 18:57 3/27/98 -0500, Tom Worley wrote: >We need a head count of members of this group that would definitely >sign up for one year of DG Online at $99/each (regardless of whether >you are taking any other WON product). Count this head as a definite, if the price were $99!!! Frank Wolynski - - ------------------------------ Date: Fri, 27 Mar 1998 19:51:19 -0600 From: "Joe Scott" Subject: Re: [CANSLIM] Stock Charts and Relative Strength This is a multi-part message in MIME format. - ------=_NextPart_000_0042_01BD59B9.B64F15E0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable At 18:57 3/27/98 -0500, Tom Worley wrote: >We need a head count of members of this group that would definitely >sign up for one year of DG Online at $99/each (regardless of whether >you are taking any other WON product).=20 Count this head as a definite, if the price were $99!!! Ditto for me don't know a thing joe - ------=_NextPart_000_0042_01BD59B9.B64F15E0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable

At 18:57 3/27/98 -0500, Tom Worley wrote:
>We need a head = count of=20 members of this group that would definitely
>sign up for one year = of DG=20 Online at $99/each (regardless of whether
>you are taking any = other WON=20 product).

Count this head as a definite, if the price were=20 $99!!!

Ditto for me

don't know a = thing
joe

- ------=_NextPart_000_0042_01BD59B9.B64F15E0-- - - ------------------------------ Date: Fri, 27 Mar 1998 18:02:20 -0800 From: "John Iding" Subject: [CANSLIM] Head Count This is a multi-part message in MIME format. - ------=_NextPart_000_000F_01BD59AA.7C814180 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Who is counting? I am interested ... John >We need a head count of members of this group that would definitely >sign up for one year of DG Online at $99/each (regardless of = whether >you are taking any other WON product).=20 =20 =20 - ------=_NextPart_000_000F_01BD59AA.7C814180 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable

Who is counting? I am interested ... = John

>We need a head count of members of this group that would=20 definitely
>sign up for one year of DG Online at $99/each = (regardless=20 of whether
>you are taking any other WON product).=20

- ------=_NextPart_000_000F_01BD59AA.7C814180-- - - ------------------------------ End of canslim-digest V2 #165 ***************************** 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.