Hi Johan,

I'm using PC Quotes online, can't really = justify the=20 cost, about 80.00 per month, but service seems fine to me, its the only = real=20 time streaming quote system I've used.

It is the Real Tick software, which seems to = be a=20 standard throughout.

It gives me a better feel for the = market I=20 believe, and it has helped me time a better price when I am ready to=20 sell.

They are at http://www.pcquote.com/

don't know a thing
joe

joe@2fords.net
http://www.2fords.net/joe/<= /DIV>

- ------=_NextPart_000_00A7_01BD7202.875C0DE0-- - - ------------------------------ Date: Mon, 27 Apr 1998 13:35:08 -1000 From: "frank swenson" Subject: Re: [CANSLIM] Off topic: Real-time quote service I use StockEdge (internet version) and am very pleased with the service. They also provide real time news,charting,time and sales, and free level2 nasdaq if you pay a year in advance. If you have a brokerage account with PBS (dreyfus) its essentially free except for exchange fees. Frank - -----Original Message----- From: Tom Worley To: canslim@lists.xmission.com Date: Monday, April 27, 1998 6:37 AM Subject: Re: [CANSLIM] Off topic: Real-time quote service >I have been mostly using www.freerealtime.com, you gotta register but >can do it online instead of by fax. They have been having some >problems lately, which have cost me some trades, but sent an apology >this weekend, and so far today appear to be doing OK. Part of their >problem is the same as AOL had, too many new subscribers for the >existing equipment, but they are aware and apparently working on it. >And you can't beat the price. > >Tom W > >-----Original Message----- >From: Johan Van Houtven >To: canslim@lists.xmission.com >Date: Monday, April 27, 1998 11:15 AM >Subject: [CANSLIM] Off topic: Real-time quote service > > >>Anyone out there that can recommend a good RT quote service? >> >>Interquote where down this AM and now are displaying approx 10 min >delayed >>quotes. >> >> >> >>--- Johan Van Houtven >> >> >> >>- >> > > >- > > - - ------------------------------ Date: Mon, 27 Apr 1998 16:20:39 -0400 From: Connie Mack Rea Subject: [CANSLIM] A simple procedure for using intraday charts in BC. Members-- When you take a look at BigCharts, there is what seems a logical way to look at intraday charts. Use the 5-minute time with the 1-day chart; the 15-minute with the 2-day chart; and the 5-day with the hourly. The 5-minute-1-day chart gives you a nice reading about an intraday feel for your stock, or the market. You can also bring to bear most of the indicators [the NASDAQ doesn't have some readings for the lower chart] for the Dow on the lower screen. The OBV/MF/EMA are pretty good markers for intraday movement. Here is trick one of the members of the university stock club does. Put up a 5-minute 1-day chart of the Dow [INDU]. E.g., to see how the last hour looked on the Volume+ indicator, he would do this. With a compass, he would measure each of the red verticals and transfer that length to a piece of paper. He would add them end to end so that he has one line made up of however many reds there were for that hour. Do the same with the green. In this way he has a two-line graph rather than an incremental one. Then he takes a look at the OBV and MF for negative and positive divergences.. And finally he checks the EMA to see if is responding positively or negatively to the Volume+, the OBV, and the MF. It sounds so obvious as to be simplistic. But don't knock it until you've run a few checks. I've done a bit of day/swing trading by using just these indicators for these periods. Connie Mack - - ------------------------------ Date: Mon, 27 Apr 1998 20:03:32 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] Market The following were notes posted to TC2000 this afternoon, Worden notes. (Monday, April 27, 1998, 4:00 P.M., ET) "Days like today do not present opportunities for new short positions. Conversely, it is far too early to even think about looking for buys. Roger Babson often said that the basic law of the market is that for every action there is an equal reaction. (Sir Isaac Newton might have liked credit for that too.) We have been repeatedly referring to the widespread overbought positions of stocks and the extraordinary uncorrected market rally since the beginning of the year. We are now getting the reaction. It has been years since we have seen so many gaps (either up or down) in one day. If you are not short now, it is too late to get short. Not until we get some kind of bounce. Keep your eye on SPY, which is an excellent short-sale vehicle in that it is exempt from the uptick rule. " Tony - - ------------------------------ Date: Mon, 27 Apr 1998 20:00:26 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Re.Short Selling In a typical margin purchase, you are borrowing cash to help pay for the trade. You must pay interest on this cash debit. When you short sell, you are borrowing shares, and the lender is not paid for the use of his shares nor do you pay to borrow them. Thus, you now have cash (from the sale) and a short position. You should receive interest on this cash balance (not pay interest). If your broker doesn't pay you interest on this cash, I would complain or change brokers if you do a lot of shorting. When you do a proper short, there is no finite time deadline, unlike a put. However, a deadline can be imposed if the shares you borrowed are no longer available (e.g. the owner sells them, and your firm has no others to loan you). Also, if the company is bot out for cash, you could be forced to cover. When you do a proper short sell, you must first borrow the stock, then if this is possible, you must sell on an uptick rule. On NYSE and AMEX, the uptick rule simply requires that the latest trade is at a price higher than the one preceding. However, on NASDAQ the uptick rule means that the best bid must increase from the prior best bid. While you can use a limit on your sell order, most short sells are done at mkt because of this. But this can also mean that a stock in a free fall can go down a considerable way before there is an uptick and/or your sell order gets to the head of the line. When you "buy" to "cover a short position", it closes out your position. You do not need to indicate that your buy is to cover a short, just remember to do it in your short acct and it will close out automatically. When you do a short sale, you must indicate it as a short sale both so that the shares can first be borrowed, then so that the uptick rule can be honored. But when you buy back the shares, it is no different that a normal long purchase. Tom W - -----Original Message----- From: Talib Hirji To: canslim@lists.xmission.com Date: Monday, April 27, 1998 4:44 PM Subject: Re: [CANSLIM] Re.Short Selling >Tom, > >Your Explanation of short selling has been very helpful for somebody,who >has not dared to it before. > >I have another question on the same subject of short-selling with respect >to doing on-line(thru internet)trading. When you buy to cover the shorts, >does the broker automatically returns to the loaner or I need to inform >them in any specific format ? > >Also, if I am selling-short, which means I am borrowing on margin, Do I >have to pay Interest on margin ? and is there a time limit to which I can >hold my short position ? > >Thank You, > >Talib > > >At 12:58 PM 4/27/98 -0400, you wrote: >>When you short sell, you are borrowing shares from the firm holding >>your acct, then selling those shares in anticipation of a price drop, >>at which point you would buy back the shares and return them, >>pocketing the difference between the two prices (less commissions). >>The biggest single danger in short selling is that the stock can >>continue to move higher, just because you think it is overvalued >>doesn't mean the mkt agrees with you. Thus, you have to keep tight >>stops to the upside, or else buy calls to protect yourself. >> >>Because you are "borrowing", you must have signed a "margin" >>agreement. At many firms now, the "Customer Agreement" already covers >>both cash and margin trading, thus there is no separate agreement. At >>some firms, you can protect your stocks from being "hypotecated" >>(borrowed by someone else for purpose of shorting) by keeping them in >>a Type 1 (cash) acct. At other firms, the only way to prevent >>hypotecating is to have the shares delivered to you. You have to read >>your agreement carefully. >> >>Frankly, I've never been concerned if someone buys my stock and short >>sells it. If I'm bullish on it, then I think they're making a mistake, >>and will eventually be forced to buy in at a higher price. If I'm not >>bullish on it, I shouldn't still own it. >> >>You have to borrow normally from the firm where the acct is located. >>If they don't have shares to loan you, then you can't short there. >>And, of course, if they have no further shares they are willing to >>loan, and someone who is long the stock and whose shares were already >>loaned out should sell, then the holder of that corresponding short >>position is forced to buy to cover. >> >>You receive the cash proceeds from the sale, and get interest on that >>cash. However you are responsible for paying any dividends declared >>and payable while you are short. You must maintain the house minimum >>on equity, thus if the stock goes higher, you will be "mark'd to >>market" and may have to deposit addl funds or marginable stock. >> >>As a holder of a long position that has been hypotecated, the only sig >>thing you stand to lose is the right to vote those shares. That right >>has passed onto whoever bot the shares from the short seller. >> >>It does not cost anything to borrow the shares for a short sell, but >>the long position holder is likewise not paid anything for the use of >>his shares. >> >>If you use an acct at a small firm, but it clears thru a larger firm >>(such as myself clearing thru Bear Stearns), then it is the clearing >>firm typically that holds assets and determines if it has shares to >>loan out (which can come from any of its correspondent firms, or >>internal accts, or inventory). >> >>If the firm couldn't hypotecate (it's really not expropriation!!) your >>shares, then who would you expect would be willing to loan you shares >>at no cost so you could short their shares? It's all part of how the >>system works. Shorting is not linked directly to margining, altho the >>same agreement covers both issues of "borrowing". >> >>Unlike shorting, buying put options like Jeffry does is an alternative >>that doesn't entail such a large risk of capital. When you buy the >>put, the amount you have at risk is what you spent, while shorting >>creates a potentially unlimited capital risk. >> >>The best advice I have on shorting: >>Know what you are doing >>Don't fight the tape (trend) >>Cut your losses early (be disciplined), if you can't, don't short >>Don't fight the tape >>Choose carefully >>Don't fight the tape >> >>Tom W >> >>-----Original Message----- >>From: JANSI1AUG1 >>To: CANSLIM@xmission.com >>Date: Monday, April 27, 1998 12:17 PM >>Subject: [CANSLIM] Re.Short Selling >> >> >>>Tom, >>> >>> I once heard that to sell short you must sign a margin agreement >>with >>>your brokerage firm giving them the right to let others who sell >>short borrow >>>any long shares that you hold. Therefore, I have never sold >>short-although I >>>do buy puts options. >>> >>> Tom, I know that you are a broker, and I would really appreciate >>if you >>>would tell me the steps one needs to go through to open a short >>account, and >>>then the steps to take before shorting, when you do short, and what >>to keep >>>in mind (if appropriate) after you short. I am a pretty >>sophisticated trader >>>(believe it or not), but I have never even considered shorting once I >>heard >>>that the brokerage firm could expropriate from me the shares I hold >>down >>>there. (I understand the logic and the analysis necessary for >>shorting;I just >>>don't know the procedures-or my rights, obligations and legal duties >>regarding >>>short selling or the brokerage firm's relating to allowing me to >>short). >>> >>>jans >>> >>>- >>> >> >> >>- >> >> > >- > - - ------------------------------ End of canslim-digest V2 #215 ***************************** 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.