From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #238 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, May 15 1998 Volume 02 : Number 238 In this issue: RE: [CANSLIM] ACF, RESC RE: [CANSLIM] ACF, RESC [CANSLIM] Consolidation? Re: [CANSLIM] Consolidation? Re: [CANSLIM] Futures volatile this morning [CANSLIM] REXI, LOW, & DISH Breakouts [CANSLIM] Ones to watch - PFT & SHBZ [CANSLIM] More About On-Line Brokers Re: [CANSLIM] Discount Brokers: Shortcomings Re: [CANSLIM] Discount Brokers: Shortcomings [CANSLIM] Changing your canslim subscription ---------------------------------------------------------------------- Date: Thu, 14 May 1998 00:12:36 -0700 From: Mike Lucero Subject: RE: [CANSLIM] ACF, RESC Re: ACF I just checked, and DGO shows funds at 33%. I've lately been trying to keep funds% below 30%, but I already had it on my list with funds at 16%. I checked Daily Graphs 5/1/98 and, it is listed as 16%. So, DGO's funds% number has doubled in a few days. I'm going to write to Daily Graphs again to see how old this data is. The book says it's reported quarterly, but I want to know if what they are reporting is the value it had a quarter ago. I'm not sure what good a number like that would be to anyone. Mike On Wednesday, May 13, 1998 6:23 PM, Tony Austin [SMTP:tonya@awod.com] wrote: > > RESC penetrated short term resistance of 22 today, closing at 22 1/2 on > increasing volume. > > ACF - Looks like it may attempt an upward run soon, market permiting. Has > been correcting since 4/20. Previous high is 36 9/16, currently sitting at > 35 5/8. Had a strong surge in volume today. > > > Tony > > > - - ------------------------------ Date: Thu, 14 May 1998 00:38:41 -0700 From: Mike Lucero Subject: RE: [CANSLIM] ACF, RESC I must be seeing things, ACF still says funds 16%. Sorry, Mike On Thursday, May 14, 1998 12:13 AM, Mike Lucero [SMTP:mikelu@foxinternet.net] wrote: > Re: ACF > > I just checked, and DGO shows funds at 33%. I've lately been trying to keep > funds% below 30%, but I already had it on my list with funds at 16%. I > checked Daily Graphs 5/1/98 and, it is listed as 16%. So, DGO's funds% > number has doubled in a few days. > > I'm going to write to Daily Graphs again to see how old this data is. The > book says it's reported quarterly, but I want to know if what they are > reporting is the value it had a quarter ago. I'm not sure what good a > number like that would be to anyone. > > Mike > > On Wednesday, May 13, 1998 6:23 PM, Tony Austin [SMTP:tonya@awod.com] > wrote: > > > > RESC penetrated short term resistance of 22 today, closing at 22 1/2 on > > increasing volume. > > > > ACF - Looks like it may attempt an upward run soon, market permiting. Has > > been correcting since 4/20. Previous high is 36 9/16, currently sitting > at > > 35 5/8. Had a strong surge in volume today. > > > > > > Tony > > > > > > > > > - - ------------------------------ Date: Thu, 14 May 1998 06:06:50 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] Consolidation? Tom wrote: > > Date: Wed, 13 May 1998 21:58:57 -0400 > From: "Tom Worley" > Subject: Re: [CANSLIM] "Consolidation" Theory? > > On MDII, offhand, I'd say a little late to start watching it. I have > mentioned it several times before, as recently as my weekend post of > "What's left on my watch list". With today's move from a very short > base, it is now likely too extended to be a decent buy. > > On my "consolidation theory", while I place little credence in the Dow > 30 hitting another new high, as it did today, I recognize (and > grudgingly respect) the fact that a great amount of the investing > community, however ill informed, uneducated, or simply stupid they may > be, are swayed by airhead media commentators. And today's record on > the most visible of the indexes gives them one more shot at talking > about how "the Feds won't be raising rates at next week's meeting". > Forget the fact that only a week ago they were explaining the mkt's > mild drop by "fears of a rate hike at the May meeting of the Feds" and > then the next day saying the mkt was up "because the economic reports > confirmed the expectation that there would be no rate hike at the > upcoming FOMC meeting". Actually, these are not real quotes, but I'm > willing to bet if I bothered to go thru a few news stories, I could > find real quotes citable by "reputable source" that would be very > close. > > Bottom line: the new high/low lines on NYSE and NASDAQ; the > advance/decline lines on both; the volume up/down on both; the indexes > themselves, etc. all have been suggesting a short to intermediate top, > with a 5-7% correction imminent. Some here in this group have > commented on "head and shoulders" patterns, I haven't been vocal in > disagreeing with their perception, altho I must admit I've seen better > H&S patterns before. However, to date, the mkts seem unwilling to > oblige with what should be predictable behaviour. > > I attribute this in part to simply the steady influx of new money that > must be placed somewhere. The continuing Asian crises also > contributes, with fresh money flowing into the best performing, most > stable, and least risky market in the world, supported by a strong > currency and the best collective economic conditions ever recorded in > history. > > Over the past several years, despite all the media predictions of all > the "new investors" panicking out of their mutual fund investments at > the first sign of trouble, it hasn't come to pass. In fact, about the > only time we saw any real slowdown in the inflow of fresh money to > growth oriented mutual funds came last fall, when the fears of the > Asian economic crises lasted for several months. Otherwise, whenever > the mkt has corrected briefly, it has been viewed as a Kmart "blue > light special" and new money has rushed in to buy quality stocks at a > discount. > > For the past several weeks (I am a firm, and patient, believer that it > takes a week or more, and usually a lot more, to change a trend), I > have seen the mkt "churning" around its highs, in many cases with > volume decreasing, and with no significant price appreciation. But > despite all the reasons why the "mkt" should be correcting, it seems > to stay pretty close to its highs. This is providing those who wish to > cash out with ample opportunity. And for those still adding fresh > money, they feel like they are getting a good investment price for a > long term investment. Volume at this point does not suggest to me a > true "correction", rather the froth as the mkt consolidates some very > strong Q1 gains in price and earnings at the corporate level. But at > least as of May 13th, I still see little inclination on the "market's" > part to try for a real correction. Should that happen, the "value > shoppers" as well as the shorters (who I suspect are hurting once > again, while we continue to see record levels of shorting), will seize > the opportunity to benefit from lower prices. This wave of fresh > buying should stabilize any real selling pressure, and place a "floor" > into any attempt at correcting. > > I'm not sure the mkt is yet ready to start another advance, but I see > little reason or likelihood for a major retreat. On the other hand, > when you start trying to look at individual stocks, they must be > assessed differently. Stocks that suddenly spurt higher, esp without > any apparent reason, may be good candidates for profit taking before > they retreat back into a base. > > My overall read on "M" of CANSLIM is that we remain in a bull mkt, > economic conditions favor a continuation of a good environment for the > stock mkt, and that we are consolidating recent gains without giving > back much of what we have made. > > BTW, I don't add a single stock to my personal watch list that I don't > believe can make me at least 20% in the next two months (the famous > 20% in 8 weeks rule). Whether any can double or triple if I should > hold them long enough remains to be seen. > > Tom W Tom, do I understand this explanation correctly to mean it is your "M" approach to play stocks that fit your CANSLIM criteria as long as the overall "bull market" continues? That is, as long as the "economic conditions, etc." are favorable for continuing upside movement in the "M", you do not adjust for intermediate moves down by reducing exposure to the market through stop placement, etc.? Thanks Jeffry (the Happy Cash Man) - - ------------------------------ Date: Thu, 14 May 1998 08:01:49 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Consolidation? While I am not as reactive to mkt action as I was before, I am not rushing to go 100% cash, or worse still into shorting, just because "M" has been flashing warning signals. I will continue to wait for a trend to be established. That hasn't happened yet, in my opinion. The only "trend" that I am seeing is a consolidation of recent gains within a continuing bull mkt. And yes, I have reduced exposure considerably, however some of this was necessitated by transfering my accts and not wanting the risk during the time the accts would not be accessible. At the moment I am over 50% cash in my IRA, and nearly in cash in my margin acct. But as long as I can continue finding stocks with top drawer CS elements, I will continue to study charts and look for new buying opportunities. I just don't find the "distribution" signals that worked five years ago to be so clear today. Part of that is a result of the duration of this bull mkt, which has led many "johnny come lately"s to jump in (again a warning signal of a top). But mostly, I think it is a result of the $20 billion or so being pumped into the mkt every month on a net basis. And as long as the market says it wants to go higher, whatever the reasons, who am I to argue with it?? Tom W - -----Original Message----- From: Jeffry White <"postwhit@sover.net"@sover.net> To: canslim@mail.xmission.com Date: Thursday, May 14, 1998 6:06 AM Subject: [CANSLIM] Consolidation? > >Tom, do I understand this explanation correctly to mean it is your "M" >approach to play stocks that fit your CANSLIM criteria as long as the >overall "bull market" continues? > >That is, as long as the "economic conditions, etc." are favorable for >continuing upside movement in the "M", you do not adjust for >intermediate moves down by reducing exposure to the market through stop >placement, etc.? > >Thanks > >Jeffry (the Happy Cash Man) > >- > - - ------------------------------ Date: Thu, 14 May 1998 08:58:01 EDT From: SACADS Subject: Re: [CANSLIM] Futures volatile this morning Interesting note is that the four you mention being down, all did well the day before yesterday. Seems they moved up Tues (after your post) and have now retracted. I've sat and watched the DKWD and SNHY run up. Probably too extended now, hope someone got in. Side note any thoughts on MINI? - - ------------------------------ Date: Thu, 14 May 1998 09:23:18 -0400 From: Peter Newell Subject: [CANSLIM] REXI, LOW, & DISH Breakouts Anybody looking for breakouts checkout REXI and LOW good EPS/RS stocks. Don't have DGO to give me exact values but they should be in 90's not sure of REXI GS but the chart looks great. DISH (non canslim but strong) just hit a new high on high volume yesterday. Note: I'm laying low this A/D stuff bothers me I never thought I'd see it again its to simple. Last time was 87 (no I'm not predicting a crash). Peter Newell - - ------------------------------ Date: Thu, 14 May 1998 08:40:32 -0700 From: Tim Fisher Subject: [CANSLIM] Ones to watch - PFT & SHBZ Proffitts - loosely makes my CASLI screen, N is new highs, the past few days, I suppose in reaction to the preannouncement of Q1 earnings due May 19. On very light volume however, but it has a nice base back to March in the 35-40 range. Sitting at 41 now. SHBZ also looks good, basing right now after it popped the cork in April on a nice gap up which held. Scan results below, note D/E and high Instit. which kicked them out of my strict scan. Found these in Mike A's CARS scan. Thanks Mike! RETAIL-RESTRNTS Showbiz Pizza RETAIL-RGN DEPT Proffitts TICKER SHBZ PFT EXCHANGE NSDQ NYSE X SECTOR 3 3 X INDUSTRY 160 166 24WK PCHG% 84.23 31.50 TREND EPGR 28.27 35.04 QEPS 0/-4 50.00 50.88 QEPS -1/-5 150.00 28.00 QEPS -2/-6 68.42 55.56 QEPS -3/-7 158.33 N/A INSTITUT 71.62 83.32 % INSIDERS 19.77 15.96 TREND SALE 5.50 93.00 P/E 12M 24.80 26.87 ROI 15.74 10.51 D/Equity 15.28 101.94 PEG F1 1.05 1.05 Tim Fisher / tim@OreRockOn.com Ore-Rock-On and Pacific Fishery Biologists WWW Sites: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Thu, 14 May 1998 10:04:55 -0700 (MST) From: John McDonald Subject: [CANSLIM] More About On-Line Brokers There's been a fair bit of discussion about on-line brokers, I just wanted to post this note about my experience so far with Datek Online -- with whom I recently opened an account. I transferred some stocks from a Vanguard brokerage account which included among others, 1 share (yes one) of a particular company. When the account transferred, the 1 share showed up but its value was zero. I e-mailed Datek about the discrepancy, and also threw in some other queries. Anticipating a game of e-mail tag (based on others' reports of their experiences), I waited, fingers poised over the keyboard. Within a few hours, however, I received a courteous apology for the error and was told it would be corrected as soon as possible (it was -- by the time I'd finished reading the e-mail message). I also received satisfactory answers to my other queries. Surprised (based on others' reports of their experiences), I quickly sent an e-mail thanking them for their quick response. OK,OK, I know they made an error in the first place. My e-mail was quickly followed by this response from Datek. "Dear Datek Online Trader: Customer feedback has been and will continue to be crucial to Datek Online's growing success. Again, your input and support is appreciated. Please do not forget to consult the online HelpDesk section of our website at www.Datek.com. Thank you for trading with Datek Online, Name-of-Person-at-Datek." So far, I'm satisfied. And this appears to dispel the myth I read that "Datek NEVER replies to e-mails." Am I just lucky? BTW, I came out of lurker status a good while back, but am not yet an active CANSLIMer. I follow this list daily and am learning all the time. Hopefully, one day I'll be able to contribute, but in the meantime I thought my experience might help reassure anyone considering signing up with an on-line broker. - - ------------------------------ Date: Thu, 14 May 1998 18:04:04 -0400 From: averil@legendcomm.com (Averil Strauss) Subject: Re: [CANSLIM] Discount Brokers: Shortcomings The two pre-eminent Canadian dealers, TD (Toronto Dominion) and Investorline (Bank of Montreal) are not listed. CT Securities which only deals in Canadian stocks is. E-trade shows lots of references with no indication if they apply to US or Canadian operations. Averil Strauss averil@legendcomm.com 800-668-7077 - - ------------------------------ Date: Thu, 14 May 1998 18:04:04 -0400 From: averil@legendcomm.com (Averil Strauss) Subject: Re: [CANSLIM] Discount Brokers: Shortcomings The two pre-eminent Canadian dealers, TD (Toronto Dominion) and Investorline (Bank of Montreal) are not listed. CT Securities which only deals in Canadian stocks is. E-trade shows lots of references with no indication if they apply to US or Canadian operations. Averil Strauss averil@legendcomm.com 800-668-7077 - - ------------------------------ Date: Fri, 15 May 1998 08:00:04 -0600 From: jeff@scrooge.csd.sdl.usu.edu (Jeff Salisbury) Subject: [CANSLIM] Changing your canslim subscription This is a monthly posting to the CANLSLIM group. Frequently, people sign up for the canslim list and then are overwhelmed by the volume of the email. There are two remedies for this problem: 1) You can leave our group, or 2) you can switch to the digest version which "conglomerates" many canslim messages into one large message. To change your configuration, email a message to: majordomo@xmission.com The remove yourself from the canslim list, write in the body of the email: unsubscribe canslim To add yourself to the digest version of the canslim list, write in the body of the email: subscribe canslim-digest For general help with majordomo commands, write in the body of the email: help If you need further clarification, write me directly at: canslim-owner@xmission.com Best Regards, Jeff Salisbury - CANSLIM list admin / owner - - ------------------------------ End of canslim-digest V2 #238 ***************************** 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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