From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #253 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 Tuesday, May 26 1998 Volume 02 : Number 253 In this issue: [CANSLIM] Phyllis [CANSLIM] Farmer Re: [CANSLIM] Surgery Re: [CANSLIM] RESC Re: [CANSLIM] Farmer Re: [CANSLIM] Farmer Re: [CANSLIM] RESC Re: [CANSLIM] Thanks Tom Re: [CANSLIM] Farmer [CANSLIM] Book titles. Lady's choice. And a little of this must fall into every life. Re: [CANSLIM] Book titles. Lady's choice. And a little of this must fall into every life. Re: [CANSLIM] Book titles. Lady's choice. And a little of this must fall into every life. Re: [CANSLIM] AMWD Re: [CANSLIM] AMWD RE: [CANSLIM] AMWD Re: [CANSLIM] Lurking? Re: [CANSLIM] RESC Re: [CANSLIM] RESC [CANSLIM] More on "M" [CANSLIM] BW 100 Hot Growth Companies [CANSLIM] Welcome Back ... and Back to Canslim Re: [CANSLIM] AMWD Re: [CANSLIM] RESC [CANSLIM] S. Korea down [CANSLIM] My current watch list Fw: [CANSLIM] S. Korea down Re: [CANSLIM] Tom was Farmer Re: [CANSLIM] Market Direction? ---------------------------------------------------------------------- Date: Mon, 25 May 1998 07:31:46 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Phyllis <> CS at its most basic comes in two parts: (1) what to buy, (2) when to buy it. Are you having trouble with both parts or only the charting aspect? Do you understand the message O'N is trying to get across with the C-A-N-S-L-I-M "formula"? - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Mon, 25 May 1998 11:02:57 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] Farmer Whoops!!! The message under this title, "Farmer", was intended to be a private message response to Tom W. Please ignore it, or consider it a virus in your email box, or a demeaning slight of newbies...what you will. Jeffry - - ------------------------------ Date: Mon, 25 May 1998 11:33:14 -0400 From: "Chris Peek" Subject: Re: [CANSLIM] Surgery Sure Jeffery, by all means, wait until you recover from surgery. As for all of the answers being in HTMMIS, I think your statement is ignoring the obvious. One of the main purposes for this list is for the discussion of the CANSLIM concept. If all of the answers were in HTMMIS, then at least %50, if not %80 or more, of the discussion that occurs on this list would not be needed as no one would have any questions - we would all know the answers and would not to have to discuss anything in a discussion group such as this mailing list. The only point of this list would then be to bring up CANSLIM candidates that met all of the well defined criteria that we all understand as defined in HTMMIS so that others would be aware of them. Which if this were the case, then this list would serve no purpose to you by your own statements made in a post below. -----Original Message----- Date: Monday, May 25, 1998 10:32 AM Subject: [CANSLIM] Farmer >I don't look at picks posted to the group, but I *NEVER* said I stick to >picks I get from the Farmer. What I *SAID* was I never look at the >picks posted in the group (other than a passing glance at the chart, or >a few numbers just to get a feel for what a particular individual finds >appealing) because I don't find it helps me. In fact, I find it hurts my In this post, you stated that you never look at the picks posted to the group other than to learn about a person's style/methods/thoughts. Which if CANSLIM was so well defined in HTMMIS, there would be no questions to be asked because all of the answers would be in HTMMIS (as stated in your post below), and none of us should have our own style, methods or thoughts, because we would be using the well defined items in the HTMMIS book. Therefore, if this list had no discussion or questions surrounding CANSLIM, and the posts were only CANSLIM candidates posted by others who had all of the answers because they were in HTMMIS, and as stated above you never look at the picks posted to the group, there would be no purpose in you reading this list as you would not be reading any of the posts. I think it may be wise for you to review the questions posted to the list (especially the type that Tom took the time to answer). You will see that a lot of them had to do with clarification or interpertation of the CANSLIM items discussed in HTMMIS. Thanks, Chris Peek - ----Original Message----- From: Jeffry White <"postwhit@sover.net"@sover.net> Date: Friday, May 22, 1998 3:57 PM Subject: [CANSLIM] Surgery >Can you wait until I recover from surgery? In the meantime, all the >answers are in HTMMIS. > >Sorry you conclude that my purpose was anything but genuine curiosity >and concern for newbies and not-so newbies being misguided by >non-CANSLIM "M" and cheap stock interests. > >See ya soon, Chris. > >Jeffry > >- > > - - ------------------------------ Date: Mon, 25 May 1998 08:55:56 -0700 From: Bill Subject: Re: [CANSLIM] RESC Seems to be defying gravity on low volume. 4300 shares traded last Friday. Is this a sign of strength, weakness or insider trading activity? Bill-->> - ---------------------------------- At 2:41 PM -0700 5/24/98, Al French wrote: >Tony Austin mentioned RESC recently. According to DG (4/24) its >estimated EPS increase for 1998 is a whopping 725%! > >Other numbers are C=65, A=44, New high last week, S=Float 8.5, a Leader >in steel products group, but group strength is 41, I=18, ROE=17, and a/d >has fallen from B to C, money stream has declined since March but still >positive, u/d =1.2 as of 4/24/98. > >Thanks, Tony. I'm adding RESC to my watch list. > >Al French > >- - - ------------------------------ Date: Mon, 25 May 1998 09:05:26 -0700 From: Dan Cash Subject: Re: [CANSLIM] Farmer Jeffry, Your intended private message to Tom and unintended "virus" to the group is for the most part, with slight exception, a open, respectful discussion that I would be pleased to be able to follow in our open form; that I could learn and benefit from. Jeffry White wrote: > Whoops!!! The message under this title, "Farmer", was intended to be a > private message response to Tom W. Please ignore it, or consider it a > virus in your email box, or a demeaning slight of newbies...what you > will. > > Jeffry > > - - - ------------------------------ Date: Mon, 25 May 1998 11:38:46 -0400 From: Tom Worley Subject: Re: [CANSLIM] Farmer I guess discussion isn't ended until both parties agree it's ended, and you had made some comments on how I viewed your approach to CANSLIM picks. I simply wanted to point out I can only "presume" based on what you post. To disagree, I have gone thru periods of actively trading options, altho I never did end up playing index futures. Made a lot of money at it, nice way to leverage capital, but won't go back to it until the market is in a clear bull trend again. I do hold the Series 4 license (Options Principal), so I do know something about trading options since this is a difficult license to get and few brokers have it. One lesson I learned over the past 10 years as a licensed broker is that options traders, when that is the bulk or entirety of their portfolio, are much more speculators than investors. What you wrote in this response is the first comment I can recall on your methodology of picking stocks. I have many times indicated that new highs are my primary source, others in the group use Telescan, Quotes Plus, etc. But even what you wrote still does not clarify very much how you find winners. And I don't recall you sharing your "winners" with the group, thus I can't even judge your "picking" quality from past results. You mention using price and volume indicators along with "sentiment". But in my opinion, sentiment is often, if not virtually almost always, a composite of all that "noise" you so condemn. And the purest form, that of the bullish/bearish indicators, is only one of the many factors that WON includes in his interpretation of "M". In Chapter 7 of HTMMIS, he also covers "Congress lacks real economic knowledge; FRB Discount Rate changes are influential; The Feds kill the 1981 economy; Washington causes the 1962 Breakout; The effects of news events on the market; and The best Monetary (money) Indicators". All of these you seem to dismiss as "noise", yet WON considers them important enough to talk about them, along with many other parts of "M". He also gives enough importance to economics in today's market (as opposed to ten years ago when he wrote HTMMIS) to dedicate a full page plus in IBD every day. One reason I didn't respond to some of your questions is that I have fully answered them at least once before while you were a member (e.g. why I sold EPIQ when I did, and stated at the time I thought it would go even higher, which it did). A second reason is simply your sarcastic and confrontational manner. Your questions were more often stated as an accusation, rather than a thirst for knowledge and understanding. And had you bothered checking my picks for my watch list (which is a watch list, not a buy now list), you would have seen they consistently meet most if not all of CANSLI, and you and I are not likely to ever agree on whether they met the "M". The fact that I only looked at stocks under $20 doesn't, even by WON standards, make them "cheap" or non-CANSLIM. Even the ones under $12, which is the threshold that WON professes but also violates, still showed excellent CANSLIM characteristics, and many made me money. You are correct, altho I made some nice money on both SOCR and MSON, I should not have held a partial position. That was a classic reversion to my fundamentalist nature developed over 40 years of long term investing. These stocks were excellent CANSLIM candidates when I first posted them, a number of group members also played them and made money. A few made the same mistake I did and held them too long, and is one of the causes that took me back to my version of "pure CANSLIM" over six months ago. And if either were to suddenly jump over $20 next week because of a cash buyout, it still wouldn't make my actions and decisions justifiable by CANSLIM. But what's your point, I admitted publicly in the group that I made this mistake a long time ago. This isn't news. I have resubscribed to the group, so I will be again present there. I guess the best, or simplest, way I can end this is by simply agreeing to disagree. Let time tell who was right whether we are in a consolidation waiting to make a decision to go higher (which now I believe is about to happen) or lower; or whether by your measures a short term (or longer) correction to the downside is imminent. I respect your opinion, and your right to voice that opinion. I will not ridicule you or your opinion, all I ask is that you do the same. Tom W - -----Original Message----- From: Jeffry White <"postwhit@sover.net"@sover.net> To: canslim@mail.xmission.com Date: Monday, May 25, 1998 10:39 AM Subject: [CANSLIM] Farmer >I thought we ended this conversation!?! :-)) > >I don't look at picks posted to the group, but I *NEVER* said I stick to >picks I get from the Farmer. What I *SAID* was I never look at the >picks posted in the group (other than a passing glance at the chart, or >a few numbers just to get a feel for what a particular individual finds >appealing) because I don't find it helps me. In fact, I find it hurts my >trading. If I see someone else's pick, and they've had some good one's >lately, I tend to cut corners and even do stupid things like chase >them. I protect my "head" from that type of problem by not paying >attention to the picks in the forum. What I also said was that I tend >to read only the posts to the group which feature explanations of basic >(yours many times more than not) CANSLIM criteria/rules/analyses. That >keeps me on the straight and narrow...kind of like re-reading HTMMIS >everyday, but making sure I don't get stuck on one point that is my >favorite at the moment. Selfish? Damn right, but what I'm willing to >give in return is an objective use of WON's price and volume signals >coupled with sentiment numbers (something I know well, analyse well and >have seen work well, in person and via computer for historical >confirmation over much more than 5 years). > > Large posting deleted... >- > - - ------------------------------ Date: Mon, 25 May 1998 09:22:47 -0700 From: Bill Subject: Re: [CANSLIM] RESC Here is what I found on the message board at Yahoo. "By the way its confirmed that the 725% increase is bogus by RESCs own investor relations. I think IBD totally screwed up because the earnings were/are 134 vs. 187 expected, a 39.5 % increase. Check me on this last fact guys. I'm sure thats built into its current price." Bill-->> - ------------------------ At 2:41 PM -0700 5/24/98, Al French wrote: >Tony Austin mentioned RESC recently. According to DG (4/24) its >estimated EPS increase for 1998 is a whopping 725%! > >Other numbers are C=65, A=44, New high last week, S=Float 8.5, a Leader >in steel products group, but group strength is 41, I=18, ROE=17, and a/d >has fallen from B to C, money stream has declined since March but still >positive, u/d =1.2 as of 4/24/98. > >Thanks, Tony. I'm adding RESC to my watch list. > >Al French > >- - - ------------------------------ Date: Mon, 25 May 1998 10:35:30 -0600 From: "Kent Horne" Subject: Re: [CANSLIM] Thanks Tom Tom, thanks for rejoining the list. I look forward to your input, comments, and analysis. kent - - ------------------------------ Date: Mon, 25 May 1998 12:59:32 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Farmer Oops, like Jeffry, didn't realize this had been posted to the group vice a private email (and ongoing for the weekend) discussion between Jeffry and myself. Guess you got your public discussion after all, even if not intended by either of us. Tom W - -----Original Message----- From: Tom Worley To: canslim@lists.xmission.com Date: Monday, May 25, 1998 12:11 PM Subject: Re: [CANSLIM] Farmer >I guess discussion isn't ended until both parties agree it's ended, >and you had made some comments on how I viewed your approach to >CANSLIM picks. I simply wanted to point out I can only "presume" based >on what you post. > - - ------------------------------ Date: Mon, 25 May 1998 13:18:39 -0400 From: Connie Mack Rea Subject: [CANSLIM] Book titles. Lady's choice. And a little of this must fall into every life. Members-- Saw a book title two days ago at the book store. Reminded me of some recent goings-on. Title: There's a Hair in my Dirt. A stock brought to my attention by one of our new women has good prospects. I invited her to post the stock and offer comments, but her inexperience, and some not so friendly comment, made her decline. With her permission, I post this stock: IGEN. She recognized that it falls short of some CS criteria, but still saw it as a strong stock. One of her comments was, I believe, that it had no earnings. But, "look at the chart." And I did. IGEN has a powerful OBV/MF/EMA chart. The MACD and SloSto is just right. Hardly will you find a chart in which these five indicators are in conjunction, but not just in conjunction: The EMA, MACD, and SloSto are at prime buy points. The OBV/MF in its positive divergence has been waiting for a buy signal. She has made an excellent observation. About the only negative is not on the stock but on the market trend, which makes the point that a little of this must fall into every members' life: The "M" word. And just this morning a new acronymic letter appeared: "W" for "Whoops!" I pay as little attention to M as Jeffry, so he says, pays to my posts and the posts of others. I prefer to trade with the trend, but even in a down trend there are stocks that rise; and the reverse. However, I do not suggest members invest against the dreaded M. Of course, we have some disagreement about the compass course of M, and therein lies the problem. At these moments of indecision, OBV/MF and the other three indicators can advise when you should leave, if you decide to leave. Don't use the 3/7/10 EMA to choose an exit point; it is much too sensitive. Here you may choose whatever EMA you think can judge market speed and direction. Something like 15/30/50 are starter numbers. If you feel safer with 50/100/200, use them. Be sure to draw in some trendlines along with support/resistance lines. Look for conjunctions and positive/negative divergence in the indicators. Apply these same procedures to other indices. You might take a look at hppt://coolhistory.com/ChipsCharts/ccfaq.html Traders are pretty much indifferent to trend, for most traders are also shorters; and often they are both long and short at the same time, in both up and down markets. Connie Mack - - ------------------------------ Date: Mon, 25 May 1998 10:48:46 -0700 From: Bill Subject: Re: [CANSLIM] Book titles. Lady's choice. And a little of this must fall into every life. Try http://www.coolhistory.com/ChipsCharts/CCFAQ.html Bill-->> At 10:18 AM -0700 5/25/98, Connie Mack Rea wrote: > >Apply these same procedures to other indices. > >You might take a look at hppt://coolhistory.com/ChipsCharts/ccfaq.html > >Traders are pretty much indifferent to trend, for most traders are also >shorters; and often they are both long and short at the same time, in >both up and down markets. > >Connie Mack - - ------------------------------ Date: Mon, 25 May 1998 10:48:46 -0700 From: Bill Subject: Re: [CANSLIM] Book titles. Lady's choice. And a little of this must fall into every life. Try http://www.coolhistory.com/ChipsCharts/CCFAQ.html Bill-->> At 10:18 AM -0700 5/25/98, Connie Mack Rea wrote: > >Apply these same procedures to other indices. > >You might take a look at hppt://coolhistory.com/ChipsCharts/ccfaq.html > >Traders are pretty much indifferent to trend, for most traders are also >shorters; and often they are both long and short at the same time, in >both up and down markets. > >Connie Mack - - ------------------------------ Date: Mon, 25 May 1998 11:28:48 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] AMWD > From: "PHYLLIS ROBINSON" > To: > What does the froup think of, the chart for AMWD? I am new to reading charts > and I am trying to understand this one. > Thanks, Phyllis It looks pretty good. My interpretation of it is that it formed a pretty tight base from October to mid-Feb. You can more or less ignore that blip in Oct., since that was the mini-meltdown we had, not specific to AMWD. One buy point would have been that spike up to a new high in Feb. You had to be patient at that point, but could have made 33% since then, not too bad in a few months. It has started forming another base in the 28-32 range now. Still a fairly short base, although if the market conditions were favorable, you could probably buy out of a base of that length. However, my own reading of M is that it isn't so good right now and best not to make any new commitments. Continue to track it, be ready to get into it if the market should perk up and the stock is still in a base and then breaks out. It might still break out in spite of current market conditions, and you would have to decide whether or not you are comfortable with a new stock in this environment. - - ------------------------------ Date: Mon, 25 May 1998 11:28:47 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] AMWD > From: "PHYLLIS ROBINSON" > To: > Thanks for the response, I have bought the book HTMMIS, and I have > read the book, and I have tried to understand the book, and it is still > Greek to me. I can't 'see' the cup and saucer patterns, I am not sure what > 'basic' terms like 'base' means. Also I dont have a clue what 'M' means, how > to find it or to check on it. If there is someone in this group that can > explain "Canslim' in elementary terms, i would appreciate it! If you can find a copy of the Daily Graphs, that is the best way to figure out how to read charts - just looking at zillions of charts. At some point in the next week or two I will put a few charts up at my page that I think are somewhat instructive and drop a note to the group when they are out there. - - ------------------------------ Date: Mon, 25 May 1998 11:28:48 -0800 From: "Patrick Wahl" Subject: RE: [CANSLIM] AMWD > From: "Nelson E. Timken, Esq." > To: > You said the lurkers should start to contribute so here goes. My wife needs > to learn about stocks. She knows literally not one thing, and I fear that if > something ever happens to me she will be left in total ignorance on how to > proceed. > > Do you recommend she begin by reading HTMMIS or some other tome that might > be a preliminary to that, such as "Beating the Street" by Peter Lynch. A few books I found very helpful are the O'Neil book, "One up On Wall Street" by Lynch, which I think is better than Beating The Street was, and "How I Made Two Million Dollars in the Stock Market" by Nicholas Darvas. - - ------------------------------ Date: Mon, 25 May 1998 12:05:08 -0500 From: Luke Lang Subject: Re: [CANSLIM] Lurking? David, I have failed to take profit many times and end up losing. Therefore, I have decided to always put a stop above the buy point after I have a profit. I'm not very good at determining exactly where to place the stop, but it's going to be above the buy point. In your experience with NSCP, you would probably hate Tom if you were not in when NSCP is at 32. If you were stopped out at 28 - 31, you would then probably be gald that you didn't listen to Tom. Of course, Tom didn't make any comments on your purchase. My point is simply that you should look back on what went wrong and how you should do things differently in the future. If you constantly second- guess yourself, then you will surely get confused and fail. If you develop a consistant strategy, then you WILL succeed. Best wishes, Luke Lang PS: I'm usually a lurker, but in Tom's absence, I would encourage everyone to take up the slack. hoseco7@concentric.net wrote: > > Well Joe I broke canslim a few weeks back and bought netscape > at 24 it went to 32 and I didn't sell and it is back to my entry point as of > Friday. > Believe me I have sweated this one more than I like. > earnings are coming out Tuesday after the bell and I dont have a loss stop > set. > I believe the more I do this the dumber I get. > > David > By the way I do miss Tom > he probably would have talked me out of this one - - ------------------------------ Date: Mon, 25 May 1998 15:47:15 -0400 From: Al French Subject: Re: [CANSLIM] RESC I would not be too concerned about low volume on the Friday before a holiday weekend. Although the cup was only six weeks long, RESC did show multiples of ADV as the cup was completed. Actually, I'd rather see even lower volume on the handle this past week to indicate that the weak hands have gone. I don't think RESC is the best prospect available, but it does seem worth watching, along with about 25 others on my watch list for when "M" looks promising. Al French Bill wrote: > > Seems to be defying gravity on low volume. 4300 shares traded last Friday. > Is this a sign of strength, weakness or insider trading activity? > > Bill-->> > ---------------------------------- > > At 2:41 PM -0700 5/24/98, Al French wrote: > >Tony Austin mentioned RESC recently. According to DG (4/24) its > >estimated EPS increase for 1998 is a whopping 725%! > > > >Other numbers are C=65, A=44, New high last week, S=Float 8.5, a Leader > >in steel products group, but group strength is 41, I=18, ROE=17, and a/d > >has fallen from B to C, money stream has declined since March but still > >positive, u/d =1.2 as of 4/24/98. > > > >Thanks, Tony. I'm adding RESC to my watch list. > > > >Al French > > > >- > > - - - ------------------------------ Date: Mon, 25 May 1998 15:55:40 -0400 From: Al French Subject: Re: [CANSLIM] RESC You are right that the 725% estimated increase for RESC is bogus. I was able to confirm the error with another source. DG understates the 1997 earnings and then used that to calculate the 1998 estimated increase. Al French Bill wrote: > > Here is what I found on the message board at Yahoo. > > "By the way its confirmed that the 725% increase is bogus by RESCs own > investor relations. I think IBD totally screwed up because the earnings > were/are 134 vs. 187 expected, a 39.5 % increase. Check me on this last > fact guys. I'm sure thats built into its current price." > > Bill-->> > > ------------------------ > > At 2:41 PM -0700 5/24/98, Al French wrote: > >Tony Austin mentioned RESC recently. According to DG (4/24) its > >estimated EPS increase for 1998 is a whopping 725%! > > > >Other numbers are C=65, A=44, New high last week, S=Float 8.5, a Leader > >in steel products group, but group strength is 41, I=18, ROE=17, and a/d > >has fallen from B to C, money stream has declined since March but still > >positive, u/d =1.2 as of 4/24/98. > > > >Thanks, Tony. I'm adding RESC to my watch list. > > > >Al French > > > >- > > - - - ------------------------------ Date: Mon, 25 May 1998 16:23:44 -0400 From: Al French Subject: [CANSLIM] More on "M" Here is a snip from Small Cap Investor News that may be of interest (or concern) to Canslimers: >Index performance for the week ending May 22: >It was a rough week for small stocks as the Russell 2000 fell 2% and >The MicroCap50 dropped over 3%. The Nasdaq Composite was off 2.26%, >while the Dow and S&P 500, which track large stocks, both had small >gains. >The MicroCap50 plunged 26.53 points (-3.17%) last week to close at >810.76. The MicroCap50 is up 11.75% in 1998. >The Russell 2000, a smallcap stock index, lost another 9.45 points >(-2.00%) last week to close at 462.99. The Russell 2000 is up 5.94% in >1998. >The Dow Jones Industrial Average rose 18.44 points last week (0.20%) to >close at 9114.44. The DJIA is up 15.25% in 1998. >For more information and comparative graphs, please go to: >http://www.smallcapinvestor.com/microcapstats.asp - - ------------------------------ Date: Mon, 25 May 1998 17:16:31 -0400 (EDT) From: Zoran Mitrovski Subject: [CANSLIM] BW 100 Hot Growth Companies Business Week features 100 'Hot Growth' companies with data on current (yearly) and past (three year least-squares fitted % growth) sales and earnings; return on capital; 52 week hi-lo price; current price; market value. Zoran - - ------------------------------ Date: Mon, 25 May 1998 16:14:56 -0700 From: "John Iding" Subject: [CANSLIM] Welcome Back ... and Back to Canslim And now back to picking and discussing stocks ... John - - ------------------------------ Date: Mon, 25 May 1998 23:46:20 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] AMWD For those that have never looked at a WON daily graph, I continue to recommend taking the trial (4 weeks, in my location delivered on Sunday morning). It costs $31 plus $12 shipping and handling. Can be ordered from 800-472-7479. Good substitute till we can negotiate a group rate for Daily Graphs Online, which is far better. Tom W - -----Original Message----- From: Patrick Wahl To: canslim@lists.xmission.com Date: Monday, May 25, 1998 2:27 PM Subject: Re: [CANSLIM] AMWD > From: "PHYLLIS ROBINSON" > To: > Thanks for the response, I have bought the book HTMMIS, and I have > read the book, and I have tried to understand the book, and it is still > Greek to me. I can't 'see' the cup and saucer patterns, I am not sure what > 'basic' terms like 'base' means. Also I dont have a clue what 'M' means, how > to find it or to check on it. If there is someone in this group that can > explain "Canslim' in elementary terms, i would appreciate it! If you can find a copy of the Daily Graphs, that is the best way to figure out how to read charts - just looking at zillions of charts. At some point in the next week or two I will put a few charts up at my page that I think are somewhat instructive and drop a note to the group when they are out there. - - - - ------------------------------ Date: Mon, 25 May 1998 23:51:02 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] RESC As a reminder, DG and WON uses recurring earnings, so if there was a non-recurring gain last year, DG would have stripped that amount out of the reported numbers, thus possibly accounting for such a large increase projected compared to other sites which may have included those non-recurring gains as if they were ordinary income, and likely to repeat. Tom W - -----Original Message----- From: Al French To: canslim@lists.xmission.com Date: Monday, May 25, 1998 3:54 PM Subject: Re: [CANSLIM] RESC >You are right that the 725% estimated increase for RESC is bogus. I >was able to confirm the error with another source. DG understates the >1997 earnings and then used that to calculate the 1998 estimated >increase. > >Al French > >Bill wrote: >> >> Here is what I found on the message board at Yahoo. >> >> "By the way its confirmed that the 725% increase is bogus by RESCs own >> investor relations. I think IBD totally screwed up because the earnings >> were/are 134 vs. 187 expected, a 39.5 % increase. Check me on this last >> fact guys. I'm sure thats built into its current price." >> >> Bill-->> >> >> ------------------------ >> >> At 2:41 PM -0700 5/24/98, Al French wrote: >> >Tony Austin mentioned RESC recently. According to DG (4/24) its >> >estimated EPS increase for 1998 is a whopping 725%! >> > >> >Other numbers are C=65, A=44, New high last week, S=Float 8.5, a Leader >> >in steel products group, but group strength is 41, I=18, ROE=17, and a/d >> >has fallen from B to C, money stream has declined since March but still >> >positive, u/d =1.2 as of 4/24/98. >> > >> >Thanks, Tony. I'm adding RESC to my watch list. >> > >> >Al French >> > >> >- >> >> - > >- > - - ------------------------------ Date: Tue, 26 May 1998 01:47:04 -0400 From: "Tom Worley" Subject: [CANSLIM] S. Korea down South Korea down over 7%, anyone seen any news aside from the continuing conflict in Indonesia?? Tom W - - ------------------------------ Date: Tue, 26 May 1998 01:56:03 -0400 From: "Tom Worley" Subject: [CANSLIM] My current watch list For some reason, my "re-introduction" doesn't want to post so have sent it to Jeff. It's got all my warnings and stuff, so anyone that is not familiar with how I pick stocks should ignore this post at least till you read my "intro". Still on my list: CAER, EDAC (not as a buy, but still holding), EPIQ, FTEC, GCABY, ILOGY, INSUA, MDII, MCON, MDLK, MINI, RENG, SHOO, SNHY, TMBS (altho shaky), TXCC, VARL Added: RUSH, SUPI, RIMG (again). I have done no TA on any of these, just the CS elements and charts looked favorable. Tom W - - ------------------------------ Date: Tue, 26 May 1998 20:00:01 +1200 From: "Dean Edwards" Subject: Fw: [CANSLIM] S. Korea down Welcome back Tom, S.Korea Stk Index Ends -6% To 311.99 On Labor, Yen Worries http://www.koreaherald.co.kr/kh0526/s0526b00.html 05-26-98 Seoul Stock Prices Plummet to Lowest in 11 Years Despite Lift of Foreign Ceiling Koo Hee-jin Staff reporter Share prices nosedived 6.78 percent to below the 340-level, the lowest in more than 11 years, despite the government's lift of the foreign investment ceiling on prevalent fears of labor unrest, dealers said. Institutional investors dumped huge amounts of key large cap issues, prompting blue chips, including Pohang Iron and Steel Co. (POSCO), to tumble to its daily permissible low. The composite price index plummeted 24.15 points to close at 331.9, the lowest since Feb. 26, 1987 when it stood at 330.11 points. Declining issues pummeled advancers 737 to 95 with 50 issues flat. Among the decliners 127 issues dropped to their limit lows while 11 rose to their daily limit highs. Turnover was 51.99 million shares worth 458.24 billion won ($329.91 million). The local currency slightly weakened against the U.S. dollar, with the mid-afternoon won trading at 1,389 to the greenback, down from Friday's closing of 1,382 and off the day's high of 1,378. The benchmark three-year bond yield slid 0.1 percentage point to 18 percent. The key index dropped nearly 7 points within minutes of the opening bell to breach the 350-point level as institutional investors began to unload a large amount of POSCO shares and other blue chip issues, trying to make most of an anticipated buying spree by foreign investors. However, foreigners themselves seemed nonchalant to the much touted lift of the foreign investment ceiling, concentrating on only a handful of issues. ``Foreigners see no need for hurry, now that the ceiling has fully lifted,'' said an analyst. ``They can buy anytime when they want to.'' Foreign investors' net purchases were estimated at 114 billion won. However, their net purchases were offset by the barrage of institutional investors' sales, joined later by retail investors unloading of their issues. The decline accelerated toward the afternoon as reports spread of U.S. Secretary of Finance Robert Rubin's remarks that if a depreciation of the yen was the only solution to prevent a collapse of the Japanese economy, he would be willing to accept the currency's fall to the 140 to 150 yen per dollar. As if to illustrate the point, the yen fell to 137 per dollar level yesterday, increasing the global financial markets' fears of a currency crisis to hit Japan. Stock markets in Asian countries, such as Hong Kong, Indonesia, as well as Japan, marked declines yesterday. In the Korean bourse, numerous issues which had been touted as foreign investors favorites marked declines, including those of Korea Electric Power Corp, Korean Air, Samsung Heavy Industries and Hanwha Energy. POSCO was the most heavily traded issue with 2.53 million of its shares changing hands, while shedding its daily limit of 7,000 won to 52,100 won. - -----Original Message----- From: Tom Worley To: CANSLIM Date: Tuesday, May 26, 1998 5:53 PM Subject: [CANSLIM] S. Korea down >South Korea down over 7%, anyone seen any news aside from the >continuing conflict in Indonesia?? > >Tom W > > > >- > - - ------------------------------ Date: Tue, 26 May 1998 05:48:02 EDT From: Ssingh Subject: Re: [CANSLIM] Tom was Farmer In a message dated 98-05-25 12:14:38 EDT, stkguru@netside.net writes: You were dearly missed Tom. Welcome back and I look forward to your *upgraded* CANSLIM postings. Do not pay any attention to the subject heading as it is unintentional. I am so glad to see you back. I bought ROSE (good canslim numbers as I recall) on heavy volume and rise in the stock on May 12 at $36 and was considering buying more in last few days but did not, got lucky I guess as the company is being bought by another financial institution. << I have resubscribed to the group, so I will be again present there. I guess the best, or simplest, way I can end this is by simply agreeing to disagree. Let time tell who was right whether <> Tom >> - - ------------------------------ Date: Tue, 26 May 1998 10:52:28 -0400 From: Peter Newell Subject: Re: [CANSLIM] Market Direction? Charles, I was stopped out to cash. Rather rudely too ;) I find this interesting that there appears to be no selling or buying pressure in the Dow but the A/D line is down. New High/New Low is down and the small-mid caps appear to be taking a beating and best I can tell no real good breakouts. So I will wait patiently on the sidelines until the next buying frenzy takes place. Peter Newell - ---------- > From: Charles Morgan > To: canslim@xmission.com > Subject: [CANSLIM] Market Direction? > Date: Friday, May 22, 1998 5:18 PM > > Everybody, > Alot has been said lately about whether the market or the individual > stocks should tell you when to sell. My personal feeling is that if you > have the experience let the individual stock dictate. If you are > inexperienced, let the overall market dictate. It is better to get off > the elevator on the way up then on the way down(read that > somewhere-HTMMIS). Some stocks will be easier to unload than other > stocks, especially if the market is moving downward(not that any stock > is really that easy to get rid of in a downdraft and cut your losses at > the same time). > > The reason for the above statement is that a few days ago, seeing the > market moving sideways, I could have unloaded my stocks. I didn't sell, > made a little money and lost a little money.But eventually, in the last > week, all the stocks I own reached my self imposed stop limits and I am > at 100% cash. I am waiting for signs of the market to continue its bull > move up before entering back into the market. > > Are there any other members that have been forced into cash because of > the markets slant of decliners over advancers? I am trying to gage the > breadth of the market based on the holdings of a large group. My mutual > funds haven't looked to good the last few days, either :( > > Chuck > > ______________________________________________________ > Get Your Private, Free Email at http://www.hotmail.com > > - - - ------------------------------ End of canslim-digest V2 #253 ***************************** 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.