From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #223 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 Sunday, May 3 1998 Volume 02 : Number 223 In this issue: [CANSLIM] Re: TSAR Re: [CANSLIM] Conjunction of OBV/MF and EMA Re: [CANSLIM] LLUR Scan? [CANSLIM] High tight Flag Re: [CANSLIM] Shorts [CANSLIM] Accessing the discussion canslim archives... Re: [CANSLIM] was Shorts - TSV Re: [CANSLIM] was Shorts - TSV [CANSLIM] USNA Re: [CANSLIM] was Shorts - TSV [CANSLIM] INSS Re: [CANSLIM] Re: TSAR Re: [CANSLIM] Weekly Picks Re: [CANSLIM] was Shorts - TSV Re: [CANSLIM] USNA Re: [CANSLIM] was Shorts - TSV Re: [CANSLIM] USNA Re: [CANSLIM] USNA Re: [CANSLIM] Weekly Picks Re: [CANSLIM] Selections from "Your Weekend Review" Re: [CANSLIM] USNA Re: [CANSLIM] Interesting OBV/MF Chart ---------------------------------------------------------------------- Date: Sat, 02 May 1998 20:08:21 -0700 From: Tim Fisher Subject: [CANSLIM] Re: TSAR Wow, that has to be absolutely the weirdest chart I have ever seen. I don't get it. How could the price be controlled so tightly? Just too small a float, or just no interest in it from anyone? At 08:09 PM 5/2/98 -0400, you wrote: >Members-- > >Let's go flying today. Fasten your seat belts, expect turbulence, and >perhaps a crash landing. > >This is a "flyer." This is a chase of the goose. > >We have spoken about stocks that are externally controlled. TSAR is >such a stock. It has vacillated between 10 1/4 and 10 11/16 for over >two months. A 6-mos chart shows just how controlled it has been. > >Some have told me that you have a problem printing BC charts when using >the Print button at the top of your screen. What you have been printing >is the left most part of the screen where the Time Frame is. I believe >the reason is that BC uses frames. Therefore, the last frame you click >is the frame printed. If you will be sure to left click on the chart >and then go to Print at the top of the screen, you will get a printed >chart and nothing else. > >Print out a 2-mos chart in BC. Draw a vertical trend line through >February 27 or so; label this A. Draw another through the OBV peak in >the middle of March; call this B. Draw another through the OBV peak >just before the middle of April; call this C. Draw a fourth through the >last day of trading; call this D. > >Now, in the OBV screen at the bottom, originate a horizontal trend line >at the peak at the end of February; call this A1. Extend it to the peak >in the middle of March; call this B1. Extend it to the peak in the >middle of April. Complete the trendline by extending it across the tops >to the edge of the chart; call this D1. Each of the horizontal lines >should intersect at the OBV verticals [A, B, C, and D respectively]. > >I said that I use the 3-line EMA to draw trend lines to give >smoothness. Here is an instance is in which drawing trend lines across >price would be possible, but useless. Draw a trend line from the >3-line price peak where it intercepts the A vertical; call this A2. >Close the trend line at the 3-line peak that appears just a couple of >days in front of the C vertical; call this C2. [I have ignored marking a >B2 purposely and will not mark it.] This line should be flat and extend >across prices for about two months. > >Originate another trend line from the peak a couple of days to the >right of the C vertical and extend it across the peak seven or eight >days later and on to the edge of the chart. I have not marked this peak >because it did not occur at C2. Call it whatever you like. > >I am most interested in the OBV/MF and price period to the right of the >C vertical. To that period in a moment. Look at the period on the OBV >line from A to B; it is rising as indicated by the trend line A1 to B1. >The corollary period on the price chart is flat, hence a positive >divergence. > >Examine the B to C period: rising on the OBV, B1 to C1, and flat on >price, B2 to C2. > >Now, the important section. If you drew another trend line from C1 to >the edge of the chart, you'd have a flat line. Contrast this flat line >with the declining price trend line that begins just to the right of the >C vertical and on to the edge of the chart. This is a significant >positive OBV divergence. > >Print out a 2-mos MoneyFlow chart. I'll set some points on it and let >you work with putting trend lines on the price. Not always, but in this >instance, they can be the same as drawn on the first price chart. >Originate a trendline, A, a few days into March that runs across the MF >peaks and touches the peak in the middle of March and call this B. From >B draw a line to the peak in the middle of April; call this C. From C >draw a line on to the edge of the chart; call this D. > >The price chart is obviously the same, and the OBV and MF are nearly >identical, especially for the two most important periods from mid-March >to Friday's close. The positive divergences for the OBV and MF are >identical and thus conjuncitvely strong. > >The 3-7-10 EMA gave a buy during the last hour of trading on Friday as >you can best see on a 2-day 15-minute chart. > >Still on the 2-day, you can see that the SlowSto went strong at the end >of Thursday's trading and was pasted to the top of the chart all day >Friday. The MACD gave a buy Friday morning and turned up powerfully at >the end of trading Friday. > >Volume Accumulation was steady Thursday and Friday and acknowledged what >the other indicators were saying. > >Were we to look only at the price chart, we'd see nothing of much >interest. Though Friday gave an EMA buy, there have many buys, and >jerky they were What is different is the character of the OBV/MF. It >has changed dramatically. Now, minus some internal bad news, this ought >to be a strong stock into which entry is safe. > >And were we to look at volume--it's all over landscape and could make >for rough flying. > >Here is a chance, if we're right, to see the beginning of a move away >from ho-hum price vacillation of the last few months. We are only a day >away from the EMA buy. > >I will try to buy my three lots on Monday. I'd like to be able to buy a >lot at Friday's close, 10.75, another at 10.875, and a third at 11. >Should the stock open lower, or go lower, I will not be afraid to start >my three buys at a lower level. > >Connie Mack > > > > > > >- > > > Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@orerockon.com WWW http://OreRockOn.com - - ------------------------------ Date: Sat, 02 May 1998 20:12:32 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Conjunction of OBV/MF and EMA Can't get that symbol on ClearStation. Are you sure it is correct? At 09:04 PM 5/2/98 -0400, you wrote: >Members-- > >UFDB has a conjunctive instance of OBV/MF positive divergence and EMA. > Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@orerockon.com WWW http://OreRockOn.com - - ------------------------------ Date: Sat, 02 May 1998 18:50:06 -0800 From: Mike Artobello Subject: Re: [CANSLIM] LLUR Scan? On 2 May 98 at 17:43, Dave Cameron wrote: > Haven't seen any of your postings on the CANSLIM group? Do > you still subscribe? I thought your stuff was good. > > I was looking at your scan (qpscan) - can you explain the > column headings again? Hi Dave, I dropped off the Canslim list. I've been too busy to read all the emails, but I do check the archives occasionally. The column heading are explained in @info.txt file in my qpscan directory. If you still have questions, I'll be happy to answer them. Regards, Mike - ----------------------------------------------------------- Mike Artobello marto@ccnet.com http://www.ccnet.com/~marto/ - ----------------------------------------------------------- - - ------------------------------ Date: Sun, 03 May 1998 07:02:53 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] High tight Flag > Date: Sat, 02 May 1998 13:56:26 PDT > From: "Charles Morgan" > Subject: [CANSLIM] High tight flag > > Hi everybody, > > I would like the groups opinion on high tight flags. I own a stock, > (NC),in my opinion is in a high tight flag pattern. WON states in HTMMIS > that this is a risky but strong pattern and many stocks can skyrocket > 200% or more. > I plan on holding this stock since my profits are pretty good on it. But > I am more interested on the correctness(or incorrectness)of my > interpretation. > > Also, I live near one of their plants and they are expanding and hiring > about 200 employees. I view this as the company forecasting continuing > growth. > > Chuck Not a HTF, see HTTMIS, page 167. Nice move, though. Congratulations. - - ------------------------------ Date: Sun, 3 May 1998 07:29:54 -0600 From: "Kent Horne" Subject: Re: [CANSLIM] Shorts Tony, I've done some trades in SPY, DIA, and MDY. Appreciated your comments re: SPY. Would you give some references or sources for the plus and minus TSV calculations? Is TSV given on one of the chart services or by a specific software package? Thanks. As a related comment, it often looks as if much larger blocks of SPY trade interday, than trade sizes of DIA and MDY. kent - - ------------------------------ Date: Sun, 03 May 1998 08:00:07 -0600 From: jeff@scrooge.csd.sdl.usu.edu (Jeff Salisbury) Subject: [CANSLIM] Accessing the discussion canslim archives... >From time to time, CANSLIM members may wish to browse the discussion archives. This posting provides instructions on how to access the archives. Thanks to David Cameron for compiling the essentials of this message. Here are the two ways to access the archives: 1. The best way is to use your web browser. To browse the archives, point your browser to: http://www.xmission.com/~mcjathan/cgi/lwgate.cgi/CANSLIM/ You can do simple key-word searches on the archive by going to: http://www.xmission.com/~mcjathan/canslim/search.html 2. (Not as convenient) via email: Send an email to majordomo@xmission.com with the following as the body of your message: "index canslim". Then send a follow up email to request an old email from either the "archive" or "latest" directory. Note that your request must be in the body of your email. For example: "get canslim latest/001" will retrieve file "001" from the "latest" directory. "get canslim archive/v01.n066" will retrieve file "v01.n066" from the "archive" dir. Best Regards, Jeff Salisbury - CANSLIM list owner/admin - - ------------------------------ Date: Sun, 3 May 1998 10:52:55 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] was Shorts - TSV Kent, Not sure I am clear on the question about TSV, but I'll make a stab. I'm not going to give a technical explanation of how TSV is calculated, I'd have to dig up a text to look that up. I will attempt a simple explanation. I think a simple way to explain it, is to draw a distinction between On balance volume (OBV) and time segmented volume (TSV). The first, OBV, is more of a quantitative measure of volume, while TSV is a qualitative. As I understand it, the two share similar calculations, the addition or subtraction of volume based on up or down days for the equity...a simplification. The biggest difference is in how they are used or intended for use. OBV is sort of a running sum and will clearly show accumulation and/or distribution taking place over a period of time, in sort of a running value like a stocks price. TSV also has a funning sum about it, will show accumulation and/or distribution, but centers on a neutral zero line. TSV can be a more informative short term indication given that it lends itself to changes in short term volume trends rather than quantitative volume. Not to be misleading, OBV can also provide very good volume swing indications, but for me, is more of a confirming volume trend line. However, often you can pick up on building volume pressure in a stock with OBV that hasn't given clear signals in TSV. So they compliment each other very well. In terms of software, I can only comment on what I use, TC2000. I have been very impressed with the available functions and flexibility to adjust as I want to see the data. I would be surprised if you found a good charting routine today that did not have both of these functions available. I hope this helps and doesn't ramble to much. If you want the actual numerical calculations, I'll dig them up. Tony - ---------- > From: Kent Horne > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Shorts > Date: Sunday, May 03, 1998 9:29 AM > > Tony, I've done some trades in SPY, DIA, and MDY. Appreciated your comments > re: SPY. Would you give some references or sources for the plus and minus > TSV calculations? Is TSV given on one of the chart services or by a specific > software package? Thanks. > As a related comment, it often looks as if much larger blocks of SPY trade > interday, than trade sizes of DIA and MDY. kent > > > > - > - - ------------------------------ Date: Sun, 3 May 1998 09:39:35 -0600 From: "Kent Horne" Subject: Re: [CANSLIM] was Shorts - TSV Tony, thanks. kent - - ------------------------------ Date: Sun, 3 May 1998 19:33:58 +0300 From: "David S. Pinhasik" Subject: [CANSLIM] USNA I think it's breaking out on 3X ADV. Any comments? - - ------------------------------ Date: Sun, 3 May 1998 12:50:39 -0400 From: "Barry Marx" Subject: Re: [CANSLIM] was Shorts - TSV Tony - The TC2000 manual says that TSV is their own proprietary indicator, and I've never seen it mentioned anywhere else. I'd be interested in knowing the name of the text in which you've seen it described so that I could read the description. Thanks, Barry - -----Original Message----- From: Tony Austin To: canslim@lists.xmission.com Date: Sunday, May 03, 1998 10:54 AM Subject: Re: [CANSLIM] was Shorts - TSV >Kent, > >Not sure I am clear on the question about TSV, but I'll make a stab. I'm >not going to give a technical explanation of how TSV is calculated, I'd >have to dig up a text to look that up. I will attempt a simple >explanation. > >I think a simple way to explain it, is to draw a distinction between On >balance volume (OBV) and time segmented volume (TSV). The first, OBV, is >more of a quantitative measure of volume, while TSV is a qualitative. > >As I understand it, the two share similar calculations, the addition or >subtraction of volume based on up or down days for the equity...a >simplification. The biggest difference is in how they are used or intended >for use. > >OBV is sort of a running sum and will clearly show accumulation and/or >distribution taking place over a period of time, in sort of a running value >like a stocks price. > >TSV also has a funning sum about it, will show accumulation and/or >distribution, but centers on a neutral zero line. TSV can be a more >informative short term indication given that it lends itself to changes in >short term volume trends rather than quantitative volume. > >Not to be misleading, OBV can also provide very good volume swing >indications, but for me, is more of a confirming volume trend line. >However, often you can pick up on building volume pressure in a stock with >OBV that hasn't given clear signals in TSV. So they compliment each other >very well. > >In terms of software, I can only comment on what I use, TC2000. I have >been very impressed with the available functions and flexibility to adjust >as I want to see the data. I would be surprised if you found a good >charting routine today that did not have both of these functions available. > >I hope this helps and doesn't ramble to much. > >If you want the actual numerical calculations, I'll dig them up. > >Tony > > > >---------- >> From: Kent Horne >> To: canslim@lists.xmission.com >> Subject: Re: [CANSLIM] Shorts >> Date: Sunday, May 03, 1998 9:29 AM >> >> Tony, I've done some trades in SPY, DIA, and MDY. Appreciated your >comments >> re: SPY. Would you give some references or sources for the plus and >minus >> TSV calculations? Is TSV given on one of the chart services or by a >specific >> software package? Thanks. >> As a related comment, it often looks as if much larger blocks of SPY >trade >> interday, than trade sizes of DIA and MDY. kent >> >> >> >> - >> > >- > > - - ------------------------------ Date: Sun, 3 May 1998 19:50:05 +0300 From: "David S. Pinhasik" Subject: [CANSLIM] INSS it's over 10% off the base but it looks so darn good, I can't believe no one has mentioned it. Somebody please tell me it's not too late to get in C - 300%, 125%, 83%, 100% EPS 99 A - 155% N - new service, new high S - 15.7M float L - RS 86 GRS 95 I - 20% funds M - ? - - ------------------------------ Date: Sun, 3 May 1998 14:37:31 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Re: TSAR Recognizing that it is hardly a Canslim candidate (RS 42, EPS 55, no growth), I was still curious about this one as it appeared to be a stock under an existing buyout condition. Searching thru the news and filings, however, I find no evidence of this and, frankly, after reading the filings don't know why anyone would want to buy this co. It does have some ticking "time bombs" in its fundamentals. One item is a dispute with IRS, if they lose (which of course they are sure they won't) they will have to cough up an addl $1.5 mil plus lose a substantial part of their tax loss carryforward. Another interesting gem relates to the marketing of their products in Mexico (which have been affected by the valuations on the peso, and in turn has affected the quality of their accts receivable). The co notes that some of their US customers may, in turn, be selling to third parties who "may attempt" to export those products into MX without paying all duties due to MX. Thus, these "cheaper" exports would then directly compete with the co's own "legal" exports. They note increased MX enforcement may reduce their sales to these US customers. They also have a lot of complicated financing and debt, including over a $1 million due to an affiliate, of which over a third of a million is past due. There has also been a considerable amount of stock issued, most or all in the form of convertible preferred paying a nice dividend, in exchange for debt to creditors. It looks to me like one or more broker dealers, either for their own behalf or for a customer, are supporting the stock to the downside. I don't know which, if any, of the above issues may be affecting a move to the upside, or may change the nature of the downside support. In any case, even tho not a CANSLIM candidate, interesting to study. Tom W - -----Original Message----- From: Tim Fisher To: canslim@lists.xmission.com Date: Saturday, May 02, 1998 11:04 PM Subject: [CANSLIM] Re: TSAR >Wow, that has to be absolutely the weirdest chart I have ever seen. I don't >get it. How could the price be controlled so tightly? Just too small a >float, or just no interest in it from anyone? > - - ------------------------------ Date: Sun, 3 May 1998 16:15:58 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] Weekly Picks Ok, I have been working on my scans and hope I have a couple that are more in line with what this list is about. I'm not saying that I'm there yet, but I am getting closer. Welcome your comments. First, I want to review this RS issue again, and I hope I'm not beating a dead horse. Frankly, I have been unable to scan based on RS. I have attempted a reasonable approximation using a combination of beta and volatility, this has eliminated many of the rangy and weaker issues. However, I am still having a difficult time doing blind scans for stocks that have high earnings and high RS. In my frustration, I turned to page 144 in HTMMIS and looked at the "nature" of the charts in the section of the books. I even went through and did my own survey of apparent RS, because it isn't listed on these charts. What I found is that 63 of the 113 charts listed would be hard pressed to have a RS value higher than 70. Many of them, I don't think, would even come close. Now, I did not look into each of their history, nor look at the general market condition of the referenced time. My point is, a lot of those referenced were basing, correcting and consolidating. I think we can make too much out of RS and end up missing a great many good issues. Enough said. My picks for this week. VCI - Valassis Communications (Cap - 39 mil, avg vol 170000) Eps 81 Rel Str 90, Anl Grth 132, Last qtr 64 A/D A Grp Str B PE 21. After reaching highs of 40 3/4, VCI has consolidated sideways for 7 weeks. OBV has remained possitive through this consolidation. Stochastic has turned positive with two confirming buy signals, TSV has turned possitive as well. Volume is increasing, but will have to increase further to break through resistance at 41. Consider a buy on strong volume and a price movement above 41. DVI - Dvi Inc. (Cap 10 mil, avg vol 21300) Eps 88, Rel Str 86, Agr 21, Last qtr 35, PE 22, Spon B, A/D A, Grp Str A After reaching a high at 27 1/2 on 3/17, DVI has consolidate sideways for 6 weeks. A lower line of upper resistance is established at 25. OBV has remained flat to positive throughout consolidation. TSV turned positive on Friday. Stochastic turned positive from the lower range and gave a first level buy signal Thursday. Volume has increased to twice the daily average, but may need further building to break above 25. Consider a buy on supporting volume and stock price breaking above 25. AVS - Aviation Sales Co. (Cap - 8 mil, avg vol 23700, man owns 38%) Eps - 93, Rel Str 92, Anl Grth 141, Last qtr 34%, Spon B, A/D B, Grp Str B PE 27) After reaching highs of 44 3/4 AVS has corrected downward for 5 weeks bottoming at 35 on 4/29. There have been 2 days of increasing large volume with Friday seeing volume four times the daily average, closing at 38 1/2. Consider a buy on a break above Friday's high of 38 7/8. MLHR - Miller Herman EPS 96 Rel Str 89 A/D B PE 27 Agr 38 Qtr1 +85 Qtr2 69 Qtr3 83 After reaching a high of 36 1/4 on 3/25, MLHR has been correcting downward for the past 5 weeks. Volume never reduced to the low level I would like to see nearing the end of the correction, but it has increased over the past two trading days in a possitive way. OBV has remained flat during this time, indicating no strong selling pressure, and turned possitive on 4/28. TSV reached a bottom last week and has turned possitive on 4/28. Stochastic has turned possitive with the upward divergence of SK and SD occuring on 4/29. This is not a CANSLIM point of entry, but if anyone is looking to enter near the bottom of a correction, this may be the time, with 16.5% gains available between here and the previous high. Other issues which are giving buy signals, listed by others. TMBS, EDAC, WSTF, MDWY , all look very good. Tony - - ------------------------------ Date: Sun, 3 May 1998 16:19:28 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] was Shorts - TSV The only place I've read about it was in the TC2000 literature, but I did not realize it was proprietary to Wordens software. That is a surprise. I'll start looking to see if I can dig up what I've got. Thanks for the info. Tony - ---------- > From: Barry Marx > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] was Shorts - TSV > Date: Sunday, May 03, 1998 12:50 PM > > Tony - > > The TC2000 manual says that TSV is their own proprietary indicator, > and I've never seen it mentioned anywhere else. > I'd be interested in knowing the name of the text in which you've seen > it described so that I could read the description. > > Thanks, > Barry > > -----Original Message----- > From: Tony Austin > To: canslim@lists.xmission.com > Date: Sunday, May 03, 1998 10:54 AM > Subject: Re: [CANSLIM] was Shorts - TSV > > > >Kent, > > > >Not sure I am clear on the question about TSV, but I'll make a stab. I'm > >not going to give a technical explanation of how TSV is calculated, I'd > >have to dig up a text to look that up. I will attempt a simple > >explanation. > > > >I think a simple way to explain it, is to draw a distinction between On > >balance volume (OBV) and time segmented volume (TSV). The first, OBV, is > >more of a quantitative measure of volume, while TSV is a qualitative. > > > >As I understand it, the two share similar calculations, the addition or > >subtraction of volume based on up or down days for the equity...a > >simplification. The biggest difference is in how they are used or intended > >for use. > > > >OBV is sort of a running sum and will clearly show accumulation and/or > >distribution taking place over a period of time, in sort of a running value > >like a stocks price. > > > >TSV also has a funning sum about it, will show accumulation and/or > >distribution, but centers on a neutral zero line. TSV can be a more > >informative short term indication given that it lends itself to changes in > >short term volume trends rather than quantitative volume. > > > >Not to be misleading, OBV can also provide very good volume swing > >indications, but for me, is more of a confirming volume trend line. > >However, often you can pick up on building volume pressure in a stock with > >OBV that hasn't given clear signals in TSV. So they compliment each other > >very well. > > > >In terms of software, I can only comment on what I use, TC2000. I have > >been very impressed with the available functions and flexibility to adjust > >as I want to see the data. I would be surprised if you found a good > >charting routine today that did not have both of these functions available. > > > >I hope this helps and doesn't ramble to much. > > > >If you want the actual numerical calculations, I'll dig them up. > > > >Tony > > > > > > > >---------- > >> From: Kent Horne > >> To: canslim@lists.xmission.com > >> Subject: Re: [CANSLIM] Shorts > >> Date: Sunday, May 03, 1998 9:29 AM > >> > >> Tony, I've done some trades in SPY, DIA, and MDY. Appreciated your > >comments > >> re: SPY. Would you give some references or sources for the plus and > >minus > >> TSV calculations? Is TSV given on one of the chart services or by a > >specific > >> software package? Thanks. > >> As a related comment, it often looks as if much larger blocks of SPY > >trade > >> interday, than trade sizes of DIA and MDY. kent > >> > >> > >> > >> - > >> > > > >- > > > > > > > - > - - ------------------------------ Date: Sun, 3 May 1998 16:27:08 -0400 From: "Tony Austin" Subject: Re: [CANSLIM] USNA EPS 97 REL STR 92 A/D B AGR 131 QTR 88 PE 27 OBV turned positive the middle of April. TSV gave a first buy signal on 4/27. The first stochastic buy signal was given mid april with a second confirming signal pending, but looks to be slated for monday in trend continues. A real buy candidate if it breaks above 29 1/2 with strong supporting volume. Tony - ---------- > From: David S. Pinhasik > To: canslim@lists.xmission.com > Subject: [CANSLIM] USNA > Date: Sunday, May 03, 1998 12:33 PM > > I think it's breaking out on 3X ADV. Any comments? > > > > - > - - ------------------------------ Date: Sun, 3 May 1998 14:28:06 -0600 From: "Kent Horne" Subject: Re: [CANSLIM] was Shorts - TSV Tony and Barry, thanks for the comments and information - may cause me to reconsider adding Worden TC to the overflowing software and services basket. kent - - ------------------------------ Date: Sun, 3 May 1998 16:52:57 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] USNA Tony, DailyGraphs Online (DGO) show RS 88, EPS 99, and accum/dist of C. It's not in the printed version, so can't see Timeliness or up/down ratio, but the chart does look good here. Tom W - -----Original Message----- From: Tony Austin To: canslim@lists.xmission.com Date: Sunday, May 03, 1998 4:25 PM Subject: Re: [CANSLIM] USNA >EPS 97 REL STR 92 A/D B AGR 131 QTR 88 PE 27 > >OBV turned positive the middle of April. TSV gave a first buy signal on >4/27. The first stochastic buy signal was given mid april with a second >confirming signal pending, but looks to be slated for monday in trend >continues. > >A real buy candidate if it breaks above 29 1/2 with strong supporting >volume. > > >Tony > >---------- >> From: David S. Pinhasik >> To: canslim@lists.xmission.com >> Subject: [CANSLIM] USNA >> Date: Sunday, May 03, 1998 12:33 PM >> >> I think it's breaking out on 3X ADV. Any comments? >> >> >> >> - >> > >- > - - ------------------------------ Date: Sun, 03 May 1998 16:14:39 -0500 From: Dave Cameron Subject: Re: [CANSLIM] USNA David S. Pinhasik wrote: > > I think it's breaking out on 3X ADV. Any comments? USNA reported earnings on Thurs. after the close (Apr 30). I suspect the spike is due to the earnings report. Unfortunately I do not have them handy. All I remember was quarterly earnings of 28 cents/share - no revenue figure. Dave Cameron - - ------------------------------ Date: Sun, 3 May 1998 17:08:22 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Weekly Picks Not a bad list for a first try, Tony. I have listed the current data from DGO below, along with some comments. Hope it helps. I would disagree with you on the issue of RS. For me, it is the FIRST Canslim element I look at. If it's not over 90, I am usually not that interested, unless EPS is very high and the chart looks strong. I have found that RS, and its most recent trendline direction, shows the "popularity" of a stock. If it's out of current favor, I may leave it on my watch list for other reasons, but I will not buy it. Symbol RS EPS A/D U/D TIME GRS VCI 74 84 B 1.4 B 58 DVI 88 87 A - - - AVS 73 96 D 0.5 C 56 MLHR 69 96 B 1.6 B 86 TMBS 97 99 B 1.5 A 82 note: new CEO as of 5/98, often bullish - looks good EDAC 99 75 A 4.5 A 81 note: feel free to support, I'm only up 25% and may need some help while my accts are in transfer to Schwab WSTF 97 95 A 5.2 A 93 note: wish HDWY had looked this good, might have held on MDWY 62 74 B - - - Tom W - -----Original Message----- From: Tony Austin To: canslim@lists.xmission.com Date: Sunday, May 03, 1998 4:14 PM Subject: Re: [CANSLIM] Weekly Picks >Ok, I have been working on my scans and hope I have a couple that are more >in line with what this list is about. I'm not saying that I'm there yet, >but I am getting closer. Welcome your comments. > >First, I want to review this RS issue again, and I hope I'm not beating a >dead horse. Frankly, I have been unable to scan based on RS. I have >attempted a reasonable approximation using a combination of beta and >volatility, this has eliminated many of the rangy and weaker issues. >However, I am still having a difficult time doing blind scans for stocks >that have high earnings and high RS. > >In my frustration, I turned to page 144 in HTMMIS and looked at the >"nature" of the charts in the section of the books. I even went through >and did my own survey of apparent RS, because it isn't listed on these >charts. What I found is that 63 of the 113 charts listed would be hard >pressed to have a RS value higher than 70. Many of them, I don't think, >would even come close. Now, I did not look into each of their history, nor >look at the general market condition of the referenced time. My point is, >a lot of those referenced were basing, correcting and consolidating. I >think we can make too much out of RS and end up missing a great many good >issues. Enough said. > >My picks for this week. > >VCI - Valassis Communications (Cap - 39 mil, avg vol 170000) >Eps 81 Rel Str 90, Anl Grth 132, Last qtr 64 A/D A Grp Str B PE 21. > > After reaching highs of 40 3/4, VCI has consolidated sideways for 7 weeks. >OBV has remained possitive through this consolidation. Stochastic has >turned positive with two confirming buy signals, TSV has turned possitive >as well. Volume is increasing, but will have to increase further to break >through resistance at 41. Consider a buy on strong volume and a price >movement above 41. > >DVI - Dvi Inc. (Cap 10 mil, avg vol 21300) >Eps 88, Rel Str 86, Agr 21, Last qtr 35, PE 22, Spon B, A/D A, Grp Str A > >After reaching a high at 27 1/2 on 3/17, DVI has consolidate sideways for 6 >weeks. A lower line of upper resistance is established at 25. OBV has >remained flat to positive throughout consolidation. TSV turned positive on >Friday. Stochastic turned positive from the lower range and gave a first >level buy signal Thursday. Volume has increased to twice the daily average, >but may need further building to break above 25. Consider a buy on >supporting volume and stock price breaking above 25. > >AVS - Aviation Sales Co. (Cap - 8 mil, avg vol 23700, man owns 38%) >Eps - 93, Rel Str 92, Anl Grth 141, Last qtr 34%, Spon B, A/D B, Grp Str B >PE 27) > >After reaching highs of 44 3/4 AVS has corrected downward for 5 weeks >bottoming at 35 on 4/29. There have been 2 days of increasing large volume >with Friday seeing volume four times the daily average, closing at 38 1/2. >Consider a buy on a break above Friday's high of 38 7/8. > >MLHR - Miller Herman EPS 96 Rel Str 89 A/D B PE 27 Agr 38 Qtr1 +85 >Qtr2 69 Qtr3 83 > >After reaching a high of 36 1/4 on 3/25, MLHR has been correcting downward >for the past 5 weeks. Volume never reduced to the low level I would like >to see nearing the end of the correction, but it has increased over the >past two trading days in a possitive way. OBV has remained flat during this >time, indicating no strong selling pressure, and turned possitive on 4/28. >TSV reached a bottom last week and has turned possitive on 4/28. >Stochastic has turned possitive with the upward divergence of SK and SD >occuring on 4/29. This is not a CANSLIM point of entry, but if anyone is >looking to enter near the bottom of a correction, this may be the time, >with 16.5% gains available between here and the previous high. > >Other issues which are giving buy signals, listed by others. > >TMBS, EDAC, WSTF, MDWY , all look very good. > > >Tony > > >- > - - ------------------------------ Date: Sun, 3 May 1998 17:18:58 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Selections from "Your Weekend Review" Larry, I agree that the lack of volume (liquidity) on ALGI would make it difficult to enter or trade, however with only 600,000 shares in the issue, there will not be major liquidity until such time as they either split the stock or do a secondary offering. On the other hand, until that happens, it takes very little to move it, and with no options available, unlikely that the shorters will get after it here. It has nice earnings to support its current price. Tom W - -----Original Message----- From: Larry Horn To: CANSLIM (E-mail) Date: Saturday, May 02, 1998 2:37 AM Subject: [CANSLIM] Selections from "Your Weekend Review" > >ALGI's volume is too low for me. > - - ------------------------------ Date: Sun, 3 May 1998 17:20:47 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] USNA DGO shows 30 cents vs 18 on revenues of 26.2 mil vs 17.7. Tom W - -----Original Message----- From: Dave Cameron To: canslim@lists.xmission.com Date: Sunday, May 03, 1998 5:14 PM Subject: Re: [CANSLIM] USNA >David S. Pinhasik wrote: >> >> I think it's breaking out on 3X ADV. Any comments? > >USNA reported earnings on Thurs. after the close (Apr 30). >I suspect the spike is due to the earnings report. > >Unfortunately I do not have them handy. All I remember >was quarterly earnings of 28 cents/share - no revenue figure. > >Dave Cameron > >- > - - ------------------------------ Date: Sun, 3 May 1998 17:59:24 -0400 From: "Al French" Subject: Re: [CANSLIM] Interesting OBV/MF Chart - -----Original Message----- From: Connie Mack Rea To: canslim Date: Saturday, May 02, 1998 8:12 PM Subject: [CANSLIM] Interesting OBV/MF Chart >Members-- > >Let's go flying today. Fasten your seat belts, expect turbulence, and >perhaps a crash landing. I believe you are right about that! >This is a "flyer." This is a chase of the goose. > >We have spoken about stocks that are externally controlled. TSAR is >such a stock. It has vacillated between 10 1/4 and 10 11/16 for over >two months. A 6-mos chart shows just how controlled it has been. I would agree that the price is controlled, judging from the price action on the chart. Wouldn't that nullify the value of indicators? [Snip stuff about how to draw and read trend lines, Conclusion: OBV and MF shows positive divergence.] Are indicators valid on a stock whose price is unchanged for months? >The 3-7-10 EMA gave a buy during the last hour of trading on Friday as >you can best see on a 2-day 15-minute chart. > Is the last hour of trading significant on a day with no price change and a total volume on Friday of 2000 shares? >Still on the 2-day, you can see that the SlowSto went strong at the end >of Thursday's trading and was pasted to the top of the chart all day >Friday. The MACD gave a buy Friday morning and turned up powerfully at >the end of trading Friday. > >Volume Accumulation was steady Thursday and Friday and acknowledged what >the other indicators were saying. > On Thursday the volume was only 3000 shares. How could this give "strong" or "powerful" indications? >Were we to look only at the price chart, we'd see nothing of much >interest. Though Friday gave an EMA buy, there have many buys, and >jerky they were What is different is the character of the OBV/MF. It >has changed dramatically. Now, minus some internal bad news, this ought >to be a strong stock into which entry is safe. The internal bad news could be that the total 1997 earnings of $1.1 million (on $69 million sales) gets wiped out by the IRS claim for $1.5 million in back taxes; or, it could be that the Mexican authorities crack down on their product--knock off fragrances--that is being smuggled into Mexico. See the latest SEC 10Q report. >And were we to look at volume--it's all over landscape and could make >for rough flying. That would be expected with a stock whose average daily volume is only 10,000. >Here is a chance, if we're right, to see the beginning of a move away >from ho-hum price vacillation of the last few months. We are only a day >away from the EMA buy. > >I will try to buy my three lots on Monday. I'd like to be able to buy a >lot at Friday's close, 10.75, another at 10.875, and a third at 11. >Should the stock open lower, or go lower, I will not be afraid to start >my three buys at a lower level. > >Connie Mack > I wish you well on it, but I suspect your post is some kind of a joke. I would be afraid to own part of a low-growth company with a PE of 119, whose price hasn't changed $1 over a year, that has a tax liability greater than last years earnings, that is 80 percent owned by one family, that acknowledges adverse effects on sales if it lost customers it believes are smugglers, whose working capital is found partly by delaying payments to vendors, and who pays off delinquent debts with preferred stock. See the 4/14/98 SEC 10Q report. Al French alfrench@erols.com - - ------------------------------ End of canslim-digest V2 #223 ***************************** 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.