joe@2fords.net
http://www.2fords.net/joe/<= /DIV> - ------=_NextPart_000_0020_01BD6C31.935BB4A0-- - - ------------------------------ Date: Mon, 20 Apr 1998 06:04:43 -0700 From: Tim Fisher Subject: Re: [CANSLIM] LSON Just my $.02 - I get 68% institutional holdings from Zacks for LSON. That would keep it off my radar. At 08:52 AM 4/20/98 EDT, you wrote: >Tom > >Are you warning against purchasing LSON. > Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information tfish@spiritone.com WWW http://www.spiritone.com/~tfish -- See naked fish and rocks! - - ------------------------------ Date: Mon, 20 Apr 1998 09:02:11 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] LSON I don't tell anyone what to do, I am just pointing out an anomoly that would make me cautious. Tom W - -----Original Message----- From: Mulack To: canslim@lists.xmission.com Date: Monday, April 20, 1998 8:52 AM Subject: Re: [CANSLIM] LSON >Tom > >Are you warning against purchasing LSON. > >- > - - ------------------------------ Date: Mon, 20 Apr 1998 09:03:01 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Daily Graphs Beta I don't recall the version nr, but it was an update as of 4/13 I think. Tom W - -----Original Message----- From: Joe Scott To: canslim@lists.xmission.com Date: Monday, April 20, 1998 8:54 AM Subject: Re: [CANSLIM] Daily Graphs Beta Tom what is the version number that you just downloaded? I'm wondering if there is an upgrade from 2.3? don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - - ------------------------------ Date: Mon, 20 Apr 1998 06:17:17 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: Carlos As you've noticed, CS is partly fundamentals (what do I buy?) and partly technicals (when do I buy it?). If you're unused to charts and charting, it can all seem random and be extremely confusing. There is a vast difference between charting and technical analysis, just as there is a vast difference between boiling water and creating a bombe glace. Before giving up on the whole thing, at least learn the basics of what it's all about, then make up you own mind. The best books for beginners are John Murphy's The Visual Investor, and Technical Analysis: A Personal Seminar by the New York Institute of Finance, both available from your local bookstore (if it's a major one) or online. And they're both inexpensive. The Murphy book also comes with free charting software that will enable you to do simple plots and play with charts. Daily Graphs is nice and it's handy. However, everything that it provides is available for free online, except for EPS, RS and GS ranks, but you can get those by picking up IBD once a week, probably Friday. So it's vastly overpriced. For a quarter of the same money, you could buy a professional charting program and have the computer do most of the work. If you're near a library, you can use IBD for free and probably have access to DG as well. If you have any further questions, please feel free to ask, but it would help if you used my name in the subject line since I skip much of what's posted. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Mon, 20 Apr 1998 08:26:02 -0500 (CDT) From: mckeener@ix.netcom.com Subject: [CANSLIM] IBD and Daily Graphs Hello Everybody, Welcome, Carlos. Getting the IBD every day is a must for research, news. I'm using Wall Street Journal on a trial basis. There's just no comparison. IBD is so superior. I couldn't function without it. I'll also be getting Daily Graphs by mail soon on a trial basis. Yes, it's expensive but probably worth it. Will let you know. Frank, I did notice the New Buys of Top-Rated Mutual Funds in IBD. Another useful tool to filter potential Canslim stocks. I use this, daily bolded stocks with greatest percent rise in volume NASDAQ and NY, weekend review, Connie's chart reading which I'm still learning, industry snapshot and several internet sites such as Market Player, Big Charts, Yahoo news, etc. Tom, Connie, is there an explanation on reading charts in Daily Graphs? If not, can you recommend a good book? Many thanks. Mary Keener McKeener@ix.netcom.com - - ------------------------------ Date: Mon, 20 Apr 1998 09:25:28 EDT From: Mulack Subject: Re: [CANSLIM] LSON Thanks for responding Tom. I wasn't sure what implications how a weaker qtr would effect the comparison. New at this. Thanks again. - - ------------------------------ Date: Mon, 20 Apr 1998 06:46:50 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: MF and OBV I haven't been following the MF/OBV discussion very closely, but I assume that someone has pointed out that it's not a good idea to use one indicator to determine your path, just as it's not a good idea to base your decisions on a weekly or daily chart alone. Since both OBV and MF are part of indicator "families", one would be wise to investigate their related indicators before tossing chips onto the table. Without getting into a lot of detail, it's always best to use at least two indicators in order to give you a sense of direction. It's important, however, to understand what the indicators mean and how they're derived so that you use two or more indicators that check each other rather than duplicate each other. First, you have to decide what term you're interested in. Second, you have to decide what it is you want the indicator to tell you. Making these two decisions will eliminate most of the indicators available to you. Then you must determine what the indicator is and what it's supposed to do. OBV, Williams %R, and the Chaikin Oscillator, for example, all measure more or less the same thing in a slightly different way. They complement each other and, to a degree, verify each other. But they won't provide the checks and balances you need. By the same token, stochastics, RSI, and MF are related (though MF adds the variable of volume). Use them all for complementary indicators if you like, but don't begin to believe that they are completely different from each other. One must also consider whether the stock is trending or not as this will determine what indicators are appropriate. You can't, for example, use stochastics with a stock that's in a strong trend. You can't use moving averages with a stock that isn't. And whether it's in a trend depends entirely on your timeframe, i.e., a stock that's trending intraday may be perfectly flat over the intermediate term. Therefore, before putting together a toolbox of indicators, first decide what it is that you're looking for, then select those indicators that will help you find it. Otherwise, what you find may not be what you're looking for at all. A side note. The fact that a stock has a wide range during the day and closes near the low, though higher than the open, is not necessarily a negative. There are times when this activity serves to get rid of a substantial amount of overhead supply and clear the way for an advance. As with short-covering and shakeouts, all you can do is wait for a day or so (or several, if all is quiet) in order to see how it all plays out. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Mon, 20 Apr 1998 09:53:12 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] IBD and Daily Graphs Mary-- Have never used DG. Believe there was a post this morning about charting books by dbphoenix. His point that, if you wish to have an individual and the members [Canslim] to look at your post, it would help if the individual were also mentioned in the subject line of your post. Often I don't read through every post and have on occasion missed a member's question. Connie Mack mckeener@ix.netcom.com wrote: > Hello Everybody, > > Welcome, Carlos. Getting the IBD every day is a must for research, > news. I'm using Wall Street > Journal on a trial basis. There's just no comparison. IBD is so > superior. I couldn't function > without it. I'll also be getting Daily Graphs by mail soon on a trial > basis. Yes, it's > expensive but probably worth it. Will let you know. > > Frank, I did notice the New Buys of Top-Rated Mutual Funds in IBD. > Another useful tool to > filter potential Canslim stocks. I use this, daily bolded stocks with > greatest percent rise in > volume NASDAQ and NY, weekend review, Connie's chart reading which I'm > still learning, industry > snapshot and several internet sites such as Market Player, Big Charts, > Yahoo news, etc. > > Tom, Connie, is there an explanation on reading charts in Daily > Graphs? If not, can you > recommend a good book? > > Many thanks. > > Mary Keener > McKeener@ix.netcom.com > > - - - ------------------------------ Date: Mon, 20 Apr 1998 00:45:00 -0400 From: Larry Horn Subject: [CANSLIM] Intro: Larry Horn Hello Everyone, I have subscribed to the digest since early February and would like to = introduce myself. I am a psychiatry resident at Duke University Medical = Center in Durham, NC and I am new to investing in stocks. I read HTMMIS = 2 years ago and have recently been rereading parts of it. I use the = charts at BigCharts, I subscribe to IBD, and I have my brokerage = accounts at Waterhouse. Waterhouse is a little bit (1.5x or $12/trade) = more expensive than other online brokers but most of my money is in = mutual funds and they have a fair number of no transaction fee funds. I = have appreciated learning from the members over the past few months. =20 I would like some feedback on my screening process as I think it is too = restrictive on some elements. I start with IBD's Friday "Your Weekend = Review" which I'm sure most of you know about. It lists all stocks = above $7, within 15% of 52 wk high, and with EPS and RS greater than 85. = It ranks them by group strength. It also lists a mutual fund that owns = each stock. I'm not sure how they decide which mutual fund to list but = I think they list the one with the best 36 month performance. With that in hand, I pick the ones with A/D=3DA or B (which is = conveniently listed on the same table), Group Strength=3DA (For that, I = refer back and forth to the main stock tables until I find where the = cutoff between A and B is. Remember the whole table is organized by = group strength.), and finally I pick the ones that have a fund owning it = with a rank of A- or better (top 15% of mutual funds over past 36 = months). That usually gives me 120-140 stocks and they don't change = much from week to week. But that is still too many for me to think = about and it only covers CA SLI. Well if you count being within 15% of = its 52 week high, then maybe we can say it covers N also. =20 To weed this number down to a more manageable size, I head off to Yahoo! = and enter them all in at the same time. Then I check the profile on = each of them to check shares outstanding and float, and I get rid of = ones with float greater than 30 (That was the number that IBD suggested = on a tape "Investing to Win" which describes CANSLIM and came with my = subscription). I then calculate %Management like this (shares = outstanding-float)/shares outstanding. I hope that is the correct = formula, it seems like it should be. Sometimes the number I get is = different than that reported in IBD and when I checked further, Yahoo! = had different numbers for the float. I think they are not as up to date = as IBD. I then get rid of companies with %Management < 15% or > 50% = (Those are also numbers that were recommended on that same tape). So, = that gives me more S information and leaves me with about 60-70 stocks. I then head off to Waterhouse to look at the S&P sheets on these = companies to find out the %Owned by Institutions. I keep those with = less than 30% but more than 5% (The 30% was also recommended on that = tape but for the low number, he just said "some", 1 or 2% sponsorship = which seems a little low). The last thing I do (well actually I do it before checking %Institutions = so I don't have to look up as many companies at Waterhouse) is not = CANSLIM but I did get it from IBD's Investor's Corner. Return On Equity = >15. I don't recall anyone mentioning ROE so I am interested in hearing = if I am wasting my time with this number or what. This whole process = takes about 2-3 hours and leaves me with less than a handful of stocks. If anyone is interested, I can post all of these stocks in a table on a = web page starting with the 120-130 stocks, but I won't waste that much = space here. I will just list the ones that pass all of the screens. = >From here, I guess I just watch the volume and price to see if I can = figure a good time to buy. I'm looking forward to trying to use = Connie's tools to help me figure that out instead of just volume and = price. Since I started this in February or March, the only ones that have come = up are TMBS, ANLT, BVF, APCO, FTIC, SOSS, CVB and CBR. This process I = use seems too restrictive. Right now the only ones on it are: Co PE A/D EPS RS Fund SHR FLT %Mgmt ROE %Instit=09 ISCA 41 A 87 92 A+ 39 20 48% 15.2 6=09 MVBI 25 B 88 88 A+ 9.6 6.3 34% 18 9=09 TMBS 24 B 99 95 A 7 4.9 30% 42.8 13=09 ADV 17 A 92 87 A+ 8.9 6 32% 15.5 20 Of those, TMBS is the only one which has a chart that looks like it's = worth buying now, as far as I can tell. I actually bought it for 14 = 9/16 on 2/5/98 when I thought it was breaking out. I plan on selling = the next time the 7-line crosses below the 10-line (EMA). I don't know = what to make of the MF on TMBS but I don't think it looks good. It goes = up sharply, then down sharply and doesn't really seem to track the price = well. Even worse, the last few days have shown a negative divergence if = I understand that concept properly. Larry - - ------------------------------ Date: Mon, 20 Apr 1998 16:42:50 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Re: MF and OBV At 06:46 AM 20/04/98 -0700, you wrote: > > >I haven't been following the MF/OBV discussion very closely, but I >assume that someone has pointed out that it's not a good idea to use >one indicator to determine your path, just as it's not a good idea to >base your decisions on a weekly or daily chart alone. [snip] Quite right DB. And Friday was options experiation. Wierd things often happen to stock temporarily then. I watched TDFX closely this morning. Amazing things were happening. Lots of trades far above the ask/bid. This happened several times. I did not sell, but bought more. (I still look at this as a very short term trade however.) - --- Johan Van Houtven - - ------------------------------ Date: Mon, 20 Apr 1998 21:48:59 +0000 From: Peter Christiansen Subject: [CANSLIM] Datek Stop Orders I'm interested in Datek. Can someone tell me if they support stop orders on the NASDAQ as well NYSE and AMEX? Thanks. Peter Christiansen Chiang Mai - Thailand - - ------------------------------ Date: Mon, 20 Apr 1998 07:49:56 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] LSON > Date: Mon, 20 Apr 1998 06:04:43 -0700 > To: canslim@lists.xmission.com > From: Tim Fisher > Just my $.02 - I get 68% institutional holdings from Zacks for LSON. That > would keep it off my radar. Thats of the float of course. Of total shares, management owns 51 percent. ( And if anyone asks, I'm not recommending anyone do anything other than look at it and make their own decision. Usually when I get hyped up on a stock it tanks.) - - ------------------------------ Date: Mon, 20 Apr 1998 07:49:56 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] World Markets > From: "Tom Worley" > To: "CANSLIM" > Hmmmm, interesting opening we are heading into. Asia was largely flat > to slightly down, but Europe having a strong day, Germany in > particular (up almost 3%). However both S&P500 and NASDAQ100 futures > remain flat. Murray Ruggerio does a lot of intermarket type stuff, and he says there is a correlation between the DAX and our market, a good day for them usually means a good day for us. After I replied to you on LSON, I looked at the chart and realized you were looking at sequential earnings, while I was talking about year over year. Even a sequential gain of 20% seems very good to me. I guess we will see how well things are going this week when earnings are posted. - - ------------------------------ Date: Mon, 20 Apr 1998 07:58:46 -0700 From: Tim Fisher Subject: Re: [CANSLIM] LSON Which would also keep me out, if the institutional holdings were acceptable. The float is way too small compared to the shares out. At 08:49 AM 4/20/98 , you wrote: >> Date:=A0=A0=A0=A0=A0=A0=A0=A0=A0 Mon, 20 Apr 1998 06:04:43 -0700 >> To:=A0=A0=A0=A0=A0=A0=A0=A0=A0=A0=A0 canslim@lists.xmission.com >> From:=A0=A0=A0=A0=A0=A0=A0=A0=A0 Tim Fisher > >> Just my $.02 - I get 68% institutional holdings from Zacks for LSON. That >> would keep it off my radar. > >Thats of the float of course.=A0 Of total shares, management owns 51 >percent. ( And if anyone asks, I'm not recommending anyone do anything >other than look at it and make their own decision.=A0 Usually when I get >hyped up on a stock it tanks.) > >- >=20 Tim Fisher / tfish@spiritone.com Ore-Rock-On and Pacific Fishery Biologists WWW Sites: http://www.spiritone.com/~tfish See naked fish and rocks! - - ------------------------------ Date: Mon, 20 Apr 1998 22:16:01 +0000 From: Peter Christiansen Subject: [CANSLIM] My Entire Watch List Here is my current watch list, including potential pivot points. There are quite a few interesting charts here. Enjoy. Hope the formatting is ok. aatt 36.625 accc 55.625 accs 40.125 ammb 38.125 ans 29.625 apex 32.125 asf 44.125 astsf 52.375 astx 17.125 csgs 49.625 csli 18.625 ctxs 57.6250 dell 72.125 faf 69.125 haz 40.5 hrly 15.125 imp 34.125 intl 28.625 itds 29.125 ldry 31.75 lson 39.125 medi 58.375 metz 34.125 mth 20.5 mtic 18.125 ndn 40.125 nsit 43.125 qlgc 42.125 ssd 43.125 sut 43.125 tklc 49.5 uvn 42.125 vii 12.125 Peter Christiansen Chiang Mai - Thailand - - ------------------------------ Date: Mon, 20 Apr 98 10:28:05 -0500 From: "Robert Gammon" Subject: Re: [CANSLIM] online firms -- Datek On Fri, 17 Apr 1998 00:01:15 EDT, DCSquires wrote: >In a message dated 98-04-16 23:55:16 EDT, you write: > ><< Datek guarantees execution of your order within 60 seconds or you pay > no commission. >> > >They do guarante execution but IMO this is a load of crap! They say that order >execution starts with "work time". What the hell is work time! According to >Datek, that is the time they receive the order over the internet, which could >be delayed by network traffic. So, Datek can start "work time" any dam time >they like!! > >DSquires To each his/her own I guess. I entered an odd-lot order to buy SPY on the AMEX. Commission was free since they were unable to fill the order within 60 seconds. This is the only instance of a free trade in the 30 or so trades executed there in the last 6 months. *----------------------------------------------------------------------* Robert Gammon My opinions are my own. In no way do rgammon@micro.ti.com I represent the views of my employer Using OS/2 Warp 4.0, and a user of every version of OS/2 since v1.0 *----------------------------------------------------------------------* - - ------------------------------ Date: Mon, 20 Apr 1998 10:40:08 -0500 From: "Joe Scott" Subject: [CANSLIM] e-schwab This is a multi-part message in MIME format. - ------=_NextPart_000_0054_01BD6C48.B06B2960 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable E-Schwab internet trading site is down now for about an hour, can't = place any type of order, and when I called to have them change an order = that has already been placed I was told, "we can't access that right = now, we are having some system problems at this time, you will have to = call back". Nice huh? You'll just have to call back. Luckily it has me laughing instead of crying, it isn't anything = critical, although I'm sure there are some traders out there screaming = at this moment. don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - ------=_NextPart_000_0054_01BD6C48.B06B2960 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable

E-Schwab internet trading site is down now = for about an=20 hour, can't place any type of order, and when I called to have them = change an=20 order that has already been placed I was told, "we can't access = that right=20 now, we are having some system problems at this time, you will have to = call=20 back".

Nice huh?

You'll just have to call back.

Luckily it has me laughing instead of crying, = it isn't=20 anything critical, although I'm sure there are some traders out there = screaming=20 at this moment.

don't know a thing
joe

joe@2fords.net
http://www.2fords.net/joe/<= /DIV> - ------=_NextPart_000_0054_01BD6C48.B06B2960-- - - ------------------------------ Date: Mon, 20 Apr 1998 11:40:57 -0400 From: Peter Newell Subject: Re: [CANSLIM] canslim, new Paul, The daily charts is a great place to start, make sure they're canslim and look for RS's in the 90's with volume on the breakout. Also, the commentary points out breakouts from bases. According to todays IBD(and my calculator) a 7% stop allows for a 3 losers to 1 winner with a 25% profit to break even(actually a little ahead). My experience has been you'll probably to 50-50 at worse(barring a down market). If you see a few RS 99 stocks in there that's usually good news. Note: your best money is made when the market comes off a correction and before the market tops. Peter Newell - ---------- > From: Paul Cote > To: canslim@lists.xmission.com > Subject: [CANSLIM] canslim, new > Date: Sunday, April 19, 1998 12:26 PM > > I am new to stocks and canslim and would like to know how people use the > featured graphs "stocks in the news" that are in the ibd. I pulled out > an old ibd from two weeks ago. I checked the stocks in BigCharts and > found that most had pulled back. Do you wait for this pullback to buy? > I think just buying all these stocks and using a 7% stop would leave you > with a bunch of losers. What do you all think? > > OK, so how do you go about picking canslim stocks? Also, what is the > average holding period for a canslim stock? > > Any help would be greatly appreciated. > > > Paul Cote > > - - - ------------------------------ Date: Mon, 20 Apr 1998 11:54:53 -0400 From: Peter Newell Subject: Re: [CANSLIM] Intro: Larry Horn TMBS Larry, Welcome we have several members here from the triangle including myself. TMBS look great to me. Heavy selling from 18 then a volume dryup with a very good bounce of $15 usually this pattern results in a fast 30% gain from 18. PE is ok earnings surprise last week. Sounds like you have a great method and you should be seeing around 7 stocks to watch a week. Peter Newell - ---------- > From: Larry Horn > To: CANSLIM (E-mail) > Subject: [CANSLIM] Intro: Larry Horn > Date: Monday, April 20, 1998 12:45 AM > > Hello Everyone, > > I have subscribed to the digest since early February and would like to introduce myself. I am a psychiatry resident at Duke University Medical Center in Durham, NC and I am new to investing in stocks. I read HTMMIS 2 years ago and have recently been rereading parts of it. I use the charts at BigCharts, I subscribe to IBD, and I have my brokerage accounts at Waterhouse. Waterhouse is a little bit (1.5x or $12/trade) more expensive than other online brokers but most of my money is in mutual funds and they have a fair number of no transaction fee funds. I have appreciated learning from the members over the past few months. > > I would like some feedback on my screening process as I think it is too restrictive on some elements. I start with IBD's Friday "Your Weekend Review" which I'm sure most of you know about. It lists all stocks above $7, within 15% of 52 wk high, and with EPS and RS greater than 85. It ranks them by group strength. It also lists a mutual fund that owns each stock. I'm not sure how they decide which mutual fund to list but I think they list the one with the best 36 month performance. > > With that in hand, I pick the ones with A/D=A or B (which is conveniently listed on the same table), Group Strength=A (For that, I refer back and forth to the main stock tables until I find where the cutoff between A and B is. Remember the whole table is organized by group strength.), and finally I pick the ones that have a fund owning it with a rank of A- or better (top 15% of mutual funds over past 36 months). That usually gives me 120-140 stocks and they don't change much from week to week. But that is still too many for me to think about and it only covers CA SLI. Well if you count being within 15% of its 52 week high, then maybe we can say it covers N also. > > To weed this number down to a more manageable size, I head off to Yahoo! and enter them all in at the same time. Then I check the profile on each of them to check shares outstanding and float, and I get rid of ones with float greater than 30 (That was the number that IBD suggested on a tape "Investing to Win" which describes CANSLIM and came with my subscription). I then calculate %Management like this (shares outstanding-float)/shares outstanding. I hope that is the correct formula, it seems like it should be. Sometimes the number I get is different than that reported in IBD and when I checked further, Yahoo! had different numbers for the float. I think they are not as up to date as IBD. I then get rid of companies with %Management < 15% or > 50% (Those are also numbers that were recommended on that same tape). So, that gives me more S information and leaves me with about 60-70 stocks. > > I then head off to Waterhouse to look at the S&P sheets on these companies to find out the %Owned by Institutions. I keep those with less than 30% but more than 5% (The 30% was also recommended on that tape but for the low number, he just said "some", 1 or 2% sponsorship which seems a little low). > > The last thing I do (well actually I do it before checking %Institutions so I don't have to look up as many companies at Waterhouse) is not CANSLIM but I did get it from IBD's Investor's Corner. Return On Equity >15. I don't recall anyone mentioning ROE so I am interested in hearing if I am wasting my time with this number or what. This whole process takes about 2-3 hours and leaves me with less than a handful of stocks. > > If anyone is interested, I can post all of these stocks in a table on a web page starting with the 120-130 stocks, but I won't waste that much space here. I will just list the ones that pass all of the screens. >From here, I guess I just watch the volume and price to see if I can figure a good time to buy. I'm looking forward to trying to use Connie's tools to help me figure that out instead of just volume and price. > > Since I started this in February or March, the only ones that have come up are TMBS, ANLT, BVF, APCO, FTIC, SOSS, CVB and CBR. This process I use seems too restrictive. > > Right now the only ones on it are: > Co PE A/D EPS RS Fund SHR FLT %Mgmt ROE %Instit > ISCA 41 A 87 92 A+ 39 20 48% 15.2 6 > MVBI 25 B 88 88 A+ 9.6 6.3 34% 18 9 > TMBS 24 B 99 95 A 7 4.9 30% 42.8 13 > ADV 17 A 92 87 A+ 8.9 6 32% 15.5 20 > > Of those, TMBS is the only one which has a chart that looks like it's worth buying now, as far as I can tell. I actually bought it for 14 9/16 on 2/5/98 when I thought it was breaking out. I plan on selling the next time the 7-line crosses below the 10-line (EMA). I don't know what to make of the MF on TMBS but I don't think it looks good. It goes up sharply, then down sharply and doesn't really seem to track the price well. Even worse, the last few days have shown a negative divergence if I understand that concept properly. > > Larry > > > > > - - - ------------------------------ Date: Mon, 20 Apr 1998 12:13:12 -0400 (EDT) From: "John Nogueira (mssm2000)" Subject: [CANSLIM] Question for Connie Regarding OBV/MF Connie - As I understand it, you first screen stocks for OBV/MF before looking at the 3-line EMA. My question is how do you actually perform this screen with the multitude of stock charts out there? Do you only screen a handful of stocks for OBV/MF based on other criteria first, or do you actually sift through tons of charts. Also, is there a way to screen for OBV/MF with a computer algorithm, without having to look at charts one by one? John - - ------------------------------ Date: Mon, 20 Apr 1998 10:20:04 -0600 From: Kirby Benson Subject: Re: [CANSLIM] Intro: Larry Horn Hi Larry and welcome.=A0 You will find this a great group with lots of ve= ry fine and helpful folks for us beginners.=A0 I am a clinical counselor = (and an artist) and have worked inpt. psych and know many fine psychiatri= sts - good luck with your career.=A0 On TMBS, several members are followi= ng that stock - you got in at a good place - I have been in and out a cou= ple of times.=A0 I agree that there is a divergence between MF and price = and OBV - that's why I watch it like a hawk - around 18 seems to have bee= n resistance and hoping it will now turn into support, but keeping a clos= e eye on it. Yours, Kirby Benson Larry Horn wrote: > Hello Everyone, > > I have subscribed to the digest since early February and would like to = introduce myself.=A0 I am a psychiatry resident at Duke University Medica= l Center in Durham, NC and I am new to investing in stocks.=A0 I read HTM= MIS 2 years ago and have recently been rereading parts of it.=A0 I use th= e charts at BigCharts, I subscribe to IBD, and I have my brokerage accoun= ts at Waterhouse.=A0 Waterhouse is a little bit (1.5x or $12/trade) more = expensive than other online brokers but most of my money is in mutual fun= ds and they have a fair number of no transaction fee funds.=A0 I have app= reciated learning from the members over the past few months. > > I would like some feedback on my screening process as I think it is too= restrictive on some elements.=A0 I start with IBD's Friday "Your Weekend= Review" which I'm sure most of you know about.=A0 It lists all stocks ab= ove $7, within 15% of 52 wk high, and with EPS and RS greater than 85.=A0= It ranks them by group strength.=A0 It also lists a mutual fund that own= s each stock.=A0 I'm not sure how they decide which mutual fund to list b= ut I think they list the one with the best 36 month performance. > > With that in hand, I pick the ones with A/D=3DA or B (which is convenie= ntly listed on the same table), Group Strength=3DA (For that, I refer bac= k and forth to the main stock tables until I find where the cutoff betwee= n A and B is.=A0 Remember the whole table is organized by group strength.= ), and finally I pick the ones that have a fund owning it with a rank of = A- or better (top 15% of mutual funds over past 36 months).=A0 That usual= ly gives me 120-140 stocks and they don't change much from week to week.=A0= But that is still too many for me to think about and it only covers CA S= LI.=A0 Well if you count being within 15% of its 52 week high, then maybe= we can say it covers N also. > > To weed this number down to a more manageable size, I head off to Yahoo= ! and enter them all in at the same time.=A0 Then I check the profile on = each of them to check shares outstanding and float, and I get rid of ones= with float greater than 30 (That was the number that IBD suggested on a = tape "Investing to Win" which describes CANSLIM and came with my subscrip= tion).=A0 I then calculate %Management like this (shares outstanding-floa= t)/shares outstanding.=A0 I hope that is the correct formula, it seems li= ke it should be.=A0 Sometimes the number I get is different than that rep= orted in IBD and when I checked further, Yahoo! had different numbers for= the float.=A0 I think they are not as up to date as IBD.=A0 I then get r= id of companies with %Management < 15% or > 50% (Those are also numbers t= hat were recommended on that same tape).=A0 So, that gives me more S info= rmation and leaves me with about 60-70 stocks. > > I then head off to Waterhouse to look at the S&P sheets on these compan= ies to find out the %Owned by Institutions.=A0 I keep those with less tha= n 30% but more than 5% (The 30% was also recommended on that tape but for= the low number, he just said "some", 1 or 2% sponsorship which seems a l= ittle low). > > The last thing I do (well actually I do it before checking %Institution= s so I don't have to look up as many companies at Waterhouse) is not CANS= LIM but I did get it from IBD's Investor's Corner.=A0 Return On Equity >1= 5.=A0 I don't recall anyone mentioning ROE so I am interested in hearing = if I am wasting my time with this number or what.=A0 This whole process t= akes about 2-3 hours and leaves me with less than a handful of stocks. > > If anyone is interested, I can post all of these stocks in a table on a= web page starting with the 120-130 stocks, but I won't waste that much s= pace here.=A0 I will just list the ones that pass all of the screens.=A0 = >From here, I guess I just watch the volume and price to see if I can fig= ure a good time to buy.=A0 I'm=A0 looking forward to trying to use Connie= 's tools to help me figure that out instead of just volume and price. > > Since I started this in February or March, the only ones that have come= up are TMBS, ANLT, BVF, APCO, FTIC, SOSS, CVB and CBR.=A0 This process I= use seems too restrictive. > > Right now the only ones on it are: > Co=A0=A0=A0=A0=A0 PE=A0=A0=A0=A0=A0 A/D=A0=A0=A0=A0 EPS=A0=A0=A0=A0 RS=A0= =A0=A0=A0=A0 Fund=A0=A0=A0 SHR=A0=A0=A0=A0 FLT=A0=A0=A0=A0 %Mgmt=A0=A0 RO= E=A0=A0=A0=A0 %Instit > ISCA=A0=A0=A0 41=A0=A0=A0=A0=A0 A=A0=A0=A0=A0=A0=A0 87=A0=A0=A0=A0=A0 9= 2=A0=A0=A0=A0=A0 A+=A0=A0=A0=A0=A0 39=A0=A0=A0=A0=A0 20=A0=A0=A0=A0=A0 48= %=A0=A0=A0=A0 15.2=A0=A0=A0 6 > MVBI=A0=A0=A0 25=A0=A0=A0=A0=A0 B=A0=A0=A0=A0=A0=A0 88=A0=A0=A0=A0=A0 8= 8=A0=A0=A0=A0=A0 A+=A0=A0=A0=A0=A0 9.6=A0=A0=A0=A0 6.3=A0=A0=A0=A0 34%=A0= =A0=A0=A0 18=A0=A0=A0=A0=A0 9 > TMBS=A0=A0=A0 24=A0=A0=A0=A0=A0 B=A0=A0=A0=A0=A0=A0 99=A0=A0=A0=A0=A0 9= 5=A0=A0=A0=A0=A0 A=A0=A0=A0=A0=A0=A0 7=A0=A0=A0=A0=A0=A0 4.9=A0=A0=A0=A0 = 30%=A0=A0=A0=A0 42.8=A0=A0=A0 13 > ADV=A0=A0=A0=A0 17=A0=A0=A0=A0=A0 A=A0=A0=A0=A0=A0=A0 92=A0=A0=A0=A0=A0= 87=A0=A0=A0=A0=A0 A+=A0=A0=A0=A0=A0 8.9=A0=A0=A0=A0 6=A0=A0=A0=A0=A0=A0 = 32%=A0=A0=A0=A0 15.5=A0=A0=A0 20 > > Of those, TMBS is the only one which has a chart that looks like it's w= orth buying now, as far as I can tell.=A0 I actually bought it for 14 9/1= 6 on 2/5/98 when I thought it was breaking out.=A0 I plan on selling the = next time the 7-line crosses below the 10-line (EMA).=A0 I don't know wha= t to make of the MF on TMBS but I don't think it looks good.=A0 It goes u= p sharply, then down sharply and doesn't really seem to track the price w= ell.=A0 Even worse, the last few days have shown a negative divergence if= I understand that concept properly. > > Larry > > - =A0 - -- Visit The Great White Trout Studios: http://www.zianet.com/kbenson/trout.= html =A0 - - ------------------------------ Date: Mon, 20 Apr 1998 09:09:55 -0700 From: Tim Fisher Subject: [CANSLIM] NRVH breaking out Just bot NRVH - it's screaming up on close to triple ADV already. Reported today and crushed estimates by close to 100%. Tim Fisher / tfish@spiritone.com Ore-Rock-On and Pacific Fishery Biologists WWW Sites: http://www.spiritone.com/~tfish See naked fish and rocks! - - ------------------------------ Date: Mon, 20 Apr 1998 09:33:43 -0700 From: Tim Fisher Subject: Re: [CANSLIM] e-schwab Including me and someone else here. We tried to get NRVH and by the time we got it through Schwab (phone since the net was down, waited 10 minutes even= then) it was up 1-1/2 from where it was when we tried to enter internet orders. Of course all I'll get for getting screwed out of $1.50 x 90 is a free trade.= Oh boy am I happy now!=20 At 08:40 AM 4/20/98 , you wrote:=20 > > E-Schwab internet trading site is down now for about an hour, can't place any > type of order, and when I called to have them change an order that has > already been placed I was told, "we can't access that right now, we are > having some system problems at this time, you will have to call back". > Nice huh? > You'll just have to call back. > Luckily it has me laughing instead of crying, it isn't anything critical, > although I'm sure there are some traders out there screaming at this= moment. > =A0 > don't know a thing > joe > =A0 > joe@2fords.net > http://www.2fords.net/joe/ Tim Fisher / tfish@spiritone.com Ore-Rock-On and Pacific Fishery Biologists WWW Sites: http://www.spiritone.com/~tfish See naked fish and rocks! - - ------------------------------ End of canslim-digest V2 #199 ***************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. 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