From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #265 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, June 2 1998 Volume 02 : Number 265 In this issue: Re: [CANSLIM] Why you can't take any charts home to mother. Re: [CANSLIM] Why you can't take any charts home to mother. [CANSLIM] Yahoo Quotes [CANSLIM] Re.Tom's Stocks [CANSLIM] Re: canslim-digest V2 #262 Re: [CANSLIM] Members - a drum roll please Re: [CANSLIM] Yahoo Quotes Re: [CANSLIM] OBV/MF shorts - STO Re: [CANSLIM] "MF", A/D and BC--Bill Re: [CANSLIM] "MF", A/D and BC--Bill Re: [CANSLIM] Seasonal Tendencies--Patrick Re: [CANSLIM] OBV/MF shorts. AOL/STO--Bill Re: [CANSLIM] "MF", A/D and BC--Bill Re: [CANSLIM] "MF", A/D and BC--Bill Re: [CANSLIM] Members - a drum roll please Re: [CANSLIM] Re.Tom's Stocks [CANSLIM] real time quotes, wsj Re: [CANSLIM] "MF", A/D and BC--Tom Re: [CANSLIM] Members - a drum roll please [CANSLIM] Interesting sites. Re: [CANSLIM] Members - a drum roll please Re: [CANSLIM] Where to look for cos. earnings and sales info? ---------------------------------------------------------------------- Date: Tue, 02 Jun 1998 13:53:49 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] Why you can't take any charts home to mother. Afternoon Dan-- It is probably time to forego my "guest" status here. About the time when I had thought it time to change pronouns, from "me" [guest] to "our," Tom was plumbed for his variant readings of CS. Those who thought him a bit of an alien in the air must have thought me a alien landed. Thanks for the corrective, Dan, and for the nice comment. "Our" it will be. Connie Mack Dan Cash wrote: > Only point is: previously you have referred to yourself as a guest in/of this > group which is a slight annoyance to me, as I have always considered you an > intregal part of this group, and your "our" indicated, hopefully, that you are > thinking of yourself less a guest and more here to stay. I look forward to > your insights on a daily basis. I have learned a great deal from you. Thank > you. > > Regards, > Dan > > Connie Mack Rea wrote: > > > Morning Dan-- > > > > Am especially worried about our new members. > > > > But there is much for all of us to be concerned about. Think that there is > > some serious correcting to be done. > > > > Thanks for the note, Dan. > > > > Connie Mack > > > > Dan Cash wrote: > > > > > Hi Connie, > > > > > > Glad to see you say "OUR new members". As always, I appreciate your > > > tutoring, insight and willingness to teach. > > > > > > Connie Mack Rea wrote: > > > > > > > Members-- > > > > > > > > I have been thinking about our new members, and especially those who > > > > have just recently begun to invest. The correction going on now, unless > > > > I miss my guess, has caught some of you with losing positions, for > > > > nothing is more difficult for the beginner than to resist maintaining > > > > stops. > > > > > > > > ------ > > > > > > > > Connie Mack > > > > > > > > - > > > > > > - > > > > - > > - - - ------------------------------ Date: Tue, 2 Jun 1998 13:11:14 -0500 From: "Joe Scott" Subject: Re: [CANSLIM] Why you can't take any charts home to mother. Dan Cash wrote: > Only point is: previously you have referred to yourself as a guest in/of this > group which is a slight annoyance to me, as I have always considered you an > intregal part of this group, and your "our" indicated, hopefully, that you are > thinking of yourself less a guest and more here to stay. I look forward to > your insights on a daily basis. I have learned a great deal from you. Thank > you. Well said Dan, Goes for me as well,, sorry for my absence lately, been pretty hectic around here, I am packing and getting prepared to move in the next two weeks. Not my favorite thing, but hopefully this move will park me for awhile. don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - - ------------------------------ Date: Tue, 2 Jun 1998 11:21:57 -0800 From: "Patrick Wahl" Subject: [CANSLIM] Yahoo Quotes Tim - I went to Yahoo several times today and checked the indices against something I know is real-time, they were definitely real time at Yahoo. Maybe it doesn't like you for some reason. - - ------------------------------ Date: Tue, 2 Jun 1998 14:27:23 EDT From: Subject: [CANSLIM] Re.Tom's Stocks Tom: I check out the stocks that you are looking at by using DG-Online. Would you state the additions rather than conglomerating all the stocks together. That way I wouldn't have to check out each stock to see if I've analyzed it before. jans - - ------------------------------ Date: Sun, 31 May 1998 21:51:23 -0500 (CDT) From: John Subject: [CANSLIM] Re: canslim-digest V2 #262 There is a great deal of wisdom your statement regarding the fundamentals,But good canlsim fundamentals wont keep you from loosing all your profits when the market starts south. If you follow big "O" and get out at 7% what good have fundamentals done you. Do you ride it down. How can you have enough confidence to ride it out. What does your plan allow you to drop before activating your stop and exit. John Adair - - ------------------------------ Date: Tue, 02 Jun 1998 07:32:06 -0400 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] Members - a drum roll please The IBD shows EDAC as EPS 75. How does that fit with paragraph 3 below? Do you really really hold yourself to such tight criteria? I find DB's analysis of EPS and "Butt Kicking" to be most refreshing and confirming. I employ top down, exclusively. Market -> Group -> Stock. With actually very, very little emphasis on Market. (Crashes are rare!) If I could rearrange the letters of CANSLIM in order of what I perceive to be important, I would probably call it 'LNSACIM', but then nobody could pronounce it without receiving a 'Bless You' and 'Geshuntight' . Best Regards, Frank Wolynski >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> At 22:05 6/1/98 -0400, Tom Worley wrote: > WARNING WARNING WARNING WARNING >********************************************************************** >******** > Please do not try this at home (or at work or your broker's office, >for that matter) >********************************************************************** >******** > >Ever since Connie had the courage to join our CANSLIM group, I have >been trying to learn more about Technical Analysis (TA) in hopes of >improving not only my timing of entry and exit points but also to >overcome some of my hesitancy that has cost me some nice profits on >stocks I had "picked". > >All members should understand that I don't even begin trying to apply >TA till after a stock passes my "CANSLIM" screen of at least 80++ on >RS and 75 on EPS with a "nice chart" as well. After that the second >cut comes from a more detailed study of other CS data such as A/D, >Timeliness, u/d ratio, ADV, shares issued and their ownership, GRS, >etc. > >Only after I have considered all that type of data do I switch over to >www.bigcharts.com (BC) and try to plan an entry on the stocks that >have survived. I follow a similar pattern on the stocks I already own, >and may be trying to decide if I should continue owning. > >Last week, I had a mental lightbulb click on, and so got up far too >early Friday morning (I really gotta get a life!) to start playing >around some more at BC. What I had been trying up till then was mostly >based on Connie's favored approach as a day trader, thinking it suited >my preference to always be "in the money" on trade date. It's a >comforting feeling to hold a new stock at however slight a profit. So >I had been using a five day chart, focusing on the OBV and MF, then >backing away in time some more to a one, two and three month chart. >Thus far, it didn't seem to help give me better guidance. > >What I started backtesting last week, and am still continuing tonight, >thus THIS IS A THEORY UNDER CONSTRUCTION, IT'S NOT READY BY MY >STANDARDS TO INHABIT, is the following: > >I start with a 3 line EMA using the 10, 50 and 200 day averages (yeah, >just like DG kinda, except they don't have a 10 day). Don't be fooled >like me initially that the 200 DMA symbol doesn't appear on the symbol >line on the chart, it is still there, and accurate as far as I can >tell so far. I set the time frame to one year, and the data to report >daily. And on the lower chart, I use MACD. This first "peek" is >partially to see if the stock behaves according to the patterns I have >been seeing, that is, if I use just the MACD and buy when it crosses >the zero line upward, and sell when it crosses the zero line downward, >I make money more times than not. I also examine how the stock is >trending and trading with respect to the 10, 50 and 200 DMA lines. I >looked at a number of stocks I have followed, and several I have >owned, and it also appears that it does a good job of "holding my >hand" in times of uncertainty. So long as MACD remains however >slightly positive on a stock I already own, I continue owning. > >Once I am satisfied that the pattern remains predictable as described >above, I go on to study the 3 month and 1 month charts, still using >all the other indicators above. At this point, the preliiminary result >of my looking at a number of charts is that this approach can put me >within one day of the correct entry and exit points on most of my >favorites (small cap and micro cap stocks). PLEASE NOTE THIS >QUALIFIER. I have also run a number of big caps thru this same >approach, including IBM, TXN and CPQ. I plan to run a lot more during >the next week, including a number of non-tech stocks. Just for grins, >I even ran KTEL thru this approach, and interestingly it would have >put me in the stock under 12 and taken me out over 22. At this point, >I am not convinced that this approach works all that well with big cap >stocks, thus this is a SERIOUS WARNING. My focus is small and micro >caps, I make no warranties of any kind even on them and this approach, >and SPECIFICALLY WARN against trying to use it on big cap stocks. Also >please remember, I am using the lists of stocks hitting new highs as >my primary "shopping list" and this too MAY INFLUENCE THE RESULTS I am >getting. > >I trotted the basic premise of my "discovery" past Connie, only to >find out what I had stumbled on was well known to traders. Some >traders only use MACD as their "guide". I did make some "paper" buy >decisions this morning using both this and other approaches I have >used in the past. Results frankly were inconclusive, but I feel I am a >lot closer to finding the right combo of TA that will aid and assist >my CANSLIM investing, and overcome some of my natural indecisiveness >on entry. > >I want to emphasize to all members, I am using TA as my final "screen" >to improve timing, not as a means of selecting stocks. I don't expect >to add or drop a stock on my list because of TA, rather it will help >be a guide to whether it remains as a "watch" or moves up to a "buy" > >Comments and feedback most welcomed, privately or to the group. > >Tom W > > > > > >- > > - - ------------------------------ Date: Tue, 2 Jun 1998 14:28:23 -0500 From: "Joe Scott" Subject: Re: [CANSLIM] Yahoo Quotes Just checked them myself against side by side against Streaming Quotes from PC Quote, and they are real time, although you would have to constantly refresh the page. don't know a thing joe joe@2fords.net http://www.2fords.net/joe/ - - ------------------------------ Date: Tue, 02 Jun 1998 11:46:56 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] OBV/MF shorts - STO Morning Chris-- Several members have been posting on their reading of OBV/MF. And that is as I prefer it. You will not offend me with your readings, nor will I comment unless I think that a reading incorporates a serious error, or I am asked to comment--as Chris has this morning. In fact, it is my pleasure to see members learning about CS and OBV/MF, and always with the intent of showing how the two complement each other. Tom, today, has posted about his attempt to bring the two approaches together without harming CS. What you may not have inferred from Tom's post was the middle-of-the-night awakening, the pleasure, and the insight into how he could apply OBV/MF to CS. I take pleasure in his, for I have had the same mid-night epiphanies. OBV/MF came upon me, minus the awakening, late at night. Now to Chris' question. Chris mentions last months' merger as perhaps a consideration that I did not attend to in choosing STO as a short. Ordinarily, a technician is indifferent to such items a mergers, CEO's departure or arrival, etc., for he assumes that whatever will influence price [past events and to a large extent prospective events] is already built in. You may think this faulty thinking and may even show that there are counter instances. However, the trader/technician disregards even those instances that he may have erred because he expects his stops to save him from any fatal or serious loss of capital. Trading is playing the probabilities without suffering any capital harm. Therefore, when I looked at STO, I considered nothing but the chart and my indicators, indicators that are available to each member. This is what I saw. An axiom for reading charts and indicators is "something is relative to something else." Absolutes are absent. Draw some trendlines on price. Remember I usually draw lines across the 3-line EMA to smooth out any humps. Trendline: middle of March to price of 14 near middle of April; from middle of April to high in early May; high in early May to price of 19 and on to edge of chart. Draw vertical trendlines on SloSto: high in middle of March to high in middle of April; middle of April to high in first of May; first of May to five days later [extend line on to edge]; from this top to top near end of May. Between the first two verticals, draw internal trendlines from the high in March to the high near the end of March; from the March high of the left vertical to high at first of April. What is relevant about this segment is that both of the internal trendlines are negatively divergent to price. Note that the high in the middle of April to high in the first of May is flat and therefore negatively divergent to a high increase in price. >From the last vertical on to Tuesday, SloSto tracks price with the SloSto appearing to fall even faster than price. Notice that there is a downward crossing of the SloSto that implies further weakening. Much is negative here. The MACD is much simpler to read. Draw a vertical through the MACD's downward crossing in the middle of May. The draw a trendline across the black bars from the middle of May to Monday's close. The downward crossing and the falling trendline show weakening. Especially is the trendline across the black bars serious. See that the last eight bars appear far below the zero [trigger] line, and the price is about 17. Go back to the highest black line above the trigger line [mid-May] and note that the price is about 17. This relative-to comparison shows that MACD strength in May when the price was 17 is stronger than when the price is 17 on Monday. Much is amiss here. Go to MF. Draw a vertical just before the rise in early April and note price [about 12.25]. Go across and note price when the MF again approaches the zero line; the price for the period when MF is paralleling the zero is between 19 and 17.75. Relative to price, the MF is much weaker than it was in early April. Pull up OBV. A trendline across the hump in May to Monday is exaggerated by the up gap. No matter, for the OBV, there is a tracking of falling price. This indicator is the least relevant. The EMA gave a sell over a week ago and the 3/7/10 lines appear to be separating, thus implying a growing weakness. The next support looks to be about 16; the next about 14; and finally back to 12. You must watch the stock carefully at each support to determine if you need to cover or if you are safe to wait for the next support. Connie Mack Chris McKeever wrote: > Connie, (or others please comment) > > Was wondering if you could explain to me how the OBV/MF show weakness of > STO. > > I'm really all not that familiar with the TA. I was just curious. I > brought up the STO Chart and noticed that OBV and MF are failing now, but > that doesnt take into account the influx of volume on the merger > announcement last month. Take those points out and to me I really dont see > OBV and MF failing too much, or enough for me to short. > > Truthfully, dont really know what to be looking for. Your input would > be greatly appreciated. > > -----Original Message----- > From: Connie Mack Rea > To: canslim > Date: Monday, June 01, 1998 11:20 AM > Subject: [CANSLIM] OBV/MF shorts. > > > > > > >Members-- > > > >I have this morning shorted AEH and STO on the basis of OBV/MF weakness. > > > >I am looking for other shorts and and continue to look for longs when > >the correction ends. > > > >I have no long positions of any significance. > > > >Connie Mack > > > > > >- > > > > > > - - - ------------------------------ Date: Tue, 02 Jun 1998 11:48:58 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] "MF", A/D and BC--Bill <> When you've referred to "MF", I've assumed that you were referring to what BC calls "MF". Are you referring instead to MFI, or the Money Flow Index, that is, the volume-weighted version of the RSI? Beyond that, it would be helpful if anyone with a charting program could plot the Accumulation-Distribution indicator (not Williams or Bostian--just plain ol' A/D) and compare it to what BC calls "MF" (first checking to see that your program's definition of it matches what I supplied earlier). At least then we'd know what "MF" actually is (same reason why plants are classified by their Latin names instead of their common names--at least with the former, everybody knows what plant they're talking about). In case anyone's wondering what the big deal is, if BC's "MF" is, in fact, nothing more than the Accumulation-Distribution indicator as defined in an earlier post, then the "divergences" that so many people are looking for and see are due largely to nothing more than volume dryups, not behind-the-scenes accumulation. I'm assuming that anyone using BC would want to know that. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 02 Jun 1998 14:53:42 -0400 From: Barry Marx Subject: Re: [CANSLIM] "MF", A/D and BC--Bill Bill - Where at BC do you find the new explanation for MF? Everywhere I've looked they still give the same, fairly vague, explanation I'd seen earlier (through links found in the FAQ, and through the Chart Help button). The formula for MF that DB posted a little earlier is the same formula given at the Equis site (http://www.equis.com/free/taz/accumdistr.html) for the Accumulation/Distribution indicator, and is also discussed in Elder's "Trading for a Living", but I so far haven't been able to find the formula described at BC. Thanks, - Barry - -----Original Message----- From: Bill To: canslim@lists.xmission.com Date: Tuesday, June 02, 1998 2:13 PM Subject: Re: [CANSLIM] "MF", A/D and BC--Bill >Db - I appreciate your explanations. I don't find them argumentative at >all. Been exposed to the exchange of digital information for a long time >and understand the limitations of this medium to express emotion. Your >points are valid and welcome. I have always made an effort to understand >the math behind the charting process for the reasons you have stated. > >Using any indicator blindly is an invitation to an expensive lesson. >Several weeks ago, I noted on this board that BC's help files where >changed, specifically, the explanation of how their MF is calculated. >Several members responded with specific web locations where the definition >and calculations of MF where even more 'rational' than what you have shown. >After some further comparison, it appeared that BC's calculations were >indeed as explained by their help file and not MF in the traditional sense. > >I sent BC a note requesting a further elaboration of their MF calculation >and HELP file with no response to date. If someone has the magic button to >BC's ears/eyes, then do us all a favor and get them to explain the method >to their madness. > >Bill-->> - - ------------------------------ Date: Tue, 2 Jun 1998 13:49:29 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Seasonal Tendencies--Patrick > From: "Robert Venchiarutti" > I have Yale Hirsch's Stock Traders Almanac for 1997, and historically (from > 1950 to present) May is the 4th worst performing month on the S&P 500. > However, since from 1987-96, May was the best performing month of the year, > slightly edging out January and December. So the historical pattern for May > has altered during the bull market of the 90's. However, the best six > months to invest in the market are still from November to April. That those months are the best makes sense since they are due to money flows. That makes me think these patterns should hold up in te future. Interesting that May has flip flopped - I can't explain that, except maybe just normal statisical fluctuations. From Rich - > >Jan +1.01% > >Feb -0.19% > >Mar -0.06% > >Apr +1.13% > >May -0.83% > >Jun +0.86% > >Jul +1.84% > >Aug +1.44% > >Sep -1.36% > >Oct -0.37% > >Nov +0.71% > >Dec +1.22% > >Avg +0.46% These are in percent, which I how I should have done my test except that the software I used didn't really lend itself to that sort of test. Marty seems to have gotten quite different numbers than I did during the summer, except for that (and May), we seem to agree pretty well. So maybe the only reliable conclusion from all these numbers is to be ready to pile into the market sometime around Thanksgiving. - - ------------------------------ Date: Tue, 2 Jun 1998 13:49:29 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] OBV/MF shorts. AOL/STO--Bill > To drive my point home, take a look at the charts for STO - look at the MF > track for 5/11/98. A Gap up with strong volume is, in my book, "positive" > but the track for MF is down! This is the result of comparing the OPEN > price to the CLOSING price. In this instance, the CLOSING was lower than > the OPEN, hence the drop in MF. If anyone has a better explanation of what > is going on, I am all ears. This sort of makes sense, since one way to interpret something like a gap up and lower close is that some news item sparked a price jump, and then informed money sold into that price jump, driving the price lower throughout the day. Therefore, that really was a down day, in spite of close to close showing a gain. Well, thats my guess anyway.... - - ------------------------------ Date: Tue, 2 Jun 1998 18:24:30 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] "MF", A/D and BC--Bill DB, I agree that the name that BC gave to its MF is misleading, and it would be more accurate to compare it to WON's A/D. I suspect one reason that WON doesn't use a numberical scale, rather only using A thru E, is that it helps average out the variations that otherwise would be seen on a daily basis, that might not agree with how the stock actually traded that day. Tom W - -----Original Message----- From: dbphoenix To: canslim@lists.xmission.com Date: Tuesday, June 02, 1998 12:30 PM Subject: Re: [CANSLIM] "MF", A/D and BC--Bill >< >"The money flow indicator attempts to measure the amount of money >buying a stock vs. the amount of money selling a stock. It does this > >I'm not trying to be argumentative, Bill. Just trying to shed some >light on the issue. What BC calls the "Money Flow Indicator" is just >the standard Accumulation-Distribution indicator. That's the formula >I gave you. While I haven't checked hundreds of stocks, every stock I >have checked with my charting program shows exactly the same plot as >BC. Therefore, either I somehow have managed to check only >exceptions, or whoever wrote the help file on this one for BC doesn't >know what he's talking about. - - ------------------------------ Date: Tue, 2 Jun 1998 18:27:45 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] "MF", A/D and BC--Bill DB, I agree that the name that BC gave to its MF is misleading, and it would be more accurate to compare it to WON's A/D. I suspect one reason that WON doesn't use a numberical scale, rather only using A thru E, is that it helps average out the variations that otherwise would be seen on a daily basis, that might not agree with how the stock actually traded that day. I would prefer a site that would compare the current day's close to the prior close, and even better would be would that would do a weighed average throughout the day on volume. Then maybe we would have a more accurate "money flow". This was one of the reasons I stopped trying to find my combo of indicators using MF. On the other hand, the entire discussion seems more appropos and important to a day trader, or to someone trying to select or trade stocks simply on a TA basis, than to an investor only using TA for minor fine tuning. Tom W - -----Original Message----- From: dbphoenix To: canslim@lists.xmission.com Date: Tuesday, June 02, 1998 12:30 PM Subject: Re: [CANSLIM] "MF", A/D and BC--Bill >< >"The money flow indicator attempts to measure the amount of money >buying a stock vs. the amount of money selling a stock. It does this > >I'm not trying to be argumentative, Bill. Just trying to shed some >light on the issue. What BC calls the "Money Flow Indicator" is just >the standard Accumulation-Distribution indicator. That's the formula >I gave you. While I haven't checked hundreds of stocks, every stock I >have checked with my charting program shows exactly the same plot as >BC. Therefore, either I somehow have managed to check only >exceptions, or whoever wrote the help file on this one for BC doesn't >know what he's talking about. - - ------------------------------ Date: Tue, 2 Jun 1998 18:55:10 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Members - a drum roll please I miss your point Frank, my criteria calls for a minimum EPS of 75, RS of 80++, and a "nice chart". At the time I bot EDAC, and posted it to this groups attention (roughly 2 months ago), the EPS was 75 (passed), RS was 99 (passed), and the chart where I bot it at 10 showed a reversal off a nice (but short) base on volume. I might add, it also had an A/D of A, Timeliness of A, up/down of about 2.8 or so if memory serves me right, and a whole bunch of other great CS and fundies data supporting my decision. Guess I just don't see the contradiction, thus can't answer your request for "justification". I don't post a "buy" list, I post a "watch" list. And, yes, I do hold myself to not only "such tight criteria", but usually more than these requirements. On occasion I might consider a stock with slightly less than 75 EPS, but it would be offset by an RS in the high 90s, and current earnings that are much stronger than it had been doing, and usually at least one bad annual earnings that caused the EPS to be under 75. But even there 70 or 71 is my limit. But this is the basic criteria I use for "watching" a stock that shows me solid CS potential. I am a patient investor, as I have told several members, and may watch a stock for weeks or months or, in a few cases, years before finding the right entry point for myself. My adaptation to using new tools such as TA in general or MACD in particular for timing purposes is to avoid missing so many good stocks that I have posted in the past and other members were more decisive and made money on. There are other adaptations also taking place, those that have looked at my picks lately may have noticed a few foreign stocks sneaking there way onto my watch list. If you see medical and financial stocks there, tho, I'd either go to cash or short everything. That for me wouldn't be adaptation, it would be a mental breakdown. Tom W - -----Original Message----- From: Frank V. Wolynski To: canslim@lists.xmission.com ; CANSLIM Date: Tuesday, June 02, 1998 3:27 PM Subject: Re: [CANSLIM] Members - a drum roll please >The IBD shows EDAC as EPS 75. How does that fit with paragraph 3 below? >Do you really really hold yourself to such tight criteria? > - - ------------------------------ Date: Tue, 2 Jun 1998 19:30:44 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Re.Tom's Stocks I'm green with envy, Jans. But hopefully I will have DG Online back in my PC soon. I'm still recovering from a month of unemployment, could have been a lot worse, but after three years of making less than my monthly bills, I don't feel flush just yet. But I have already begun putting into place the steps necessary to once again have DGO living in my PC. I will try to remember to stick an asterik or something next to the additions. I tend to use a variety of sites to keep track of what I'm watching, and since I am now only posting a list weekly after I get my DG book, I just list all that are left. I have been considering setting up a home page for some of my stuff, rather than posting it (picks, economics, economic calendar, "M" comments, etc). That way those interested can still get it, and the band width won't be wasted on everyone else. Just gotta figure out how to do it. Tom W - -----Original Message----- From: JANSI1AUG1@aol.com To: CANSLIM@xmission.com Date: Tuesday, June 02, 1998 2:25 PM Subject: [CANSLIM] Re.Tom's Stocks >Tom: > > I check out the stocks that you are looking at by using DG-Online. Would >you state the additions rather than conglomerating all the stocks together. >That way I wouldn't have to check out each stock to see if I've analyzed it >before. > > jans > - - ------------------------------ Date: Tue, 2 Jun 1998 20:19:11 EDT From: Subject: [CANSLIM] real time quotes, wsj For those of you who have subscribed to the Wall Street Journal, you can get real time quotes now from thier wed site. Surindra ******************copy******************************************************* Interactive Journal readers can now get real-time quotes on U.S. stocks. Unfortunately, we can't include real-time quotes in portfolios or other features of the Interactive Journal, because exchange requirements for real-time quotes limit you to viewing a single quote at a time and no more than 50 quotes per day. You also must register separately to use free real-time quotes. Use our regular quotes features to see how your portfolio is doing overall, then switch to real-time quotes for any issues you want to check for the latest price. - -- To begin using real-time quotes, go to http://interactive.wsj.com/edition/resources/documents/rtq_subscribed.html - - ------------------------------ Date: Tue, 2 Jun 1998 17:29:01 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] "MF", A/D and BC--Tom <> IMO, you're probably wise not to use it. I've never been satisfied with any accumulation-distribution indicator, mostly because none of them really tell you anything about accumulation and distribution. If I look at any of them, I look at OBV, and even then I look at it last. Perhaps this particular discussion has been of greatest interest to the daytrading contingent, but my point throughout has been that, when beginning to study and experiment with indicators, one should know what the indicator is supposed to do, what it really does, and how it does it. Otherwise one wastes a lot of time and perhaps a lot of money. As to your comment about those who "(try) to select or trade stocks simply on a TA basis", you may be correct here as well, though this isn't what I do or how I use it. I have a universe of several hundred CS stocks and find it easier to let the computer find the stocks among those several hundred that are in constructive bases or other patterns rather than go through all those charts every day. Let's say that a stock is in a basing pattern. It's been in a basing pattern for several weeks, long enough for the 50d to catch up to it (which is probably one of the reasons why O'N prefers long bases). Let's also say that this base, which is now sitting on an important moving average and major support, also meets up with an angular lower trendline that now intersects this horizontal base. At the same time, the MACD is changing from neutral or negative to positive. Perhaps the stochastic is changing from negative to positive, maybe even from an oversold condition if the base has been drifting downward (which O'N likes). This is confirmed by the RSI. Perhaps accumulation has been going on, as evidenced by higher volume on positive days than on negative days. Not enough to attract attention. Just higher. The fundamental work has been done. The stock qualifies according to whatever fundamental criteria one has set. But the chart and the indicators (which do nothing but restate price and, sometimes, volume) say this is the time to buy. Or one can wait for the breakout. But it's highly unlikely that he will have to wait long. Some posters have said that fundamentals aren't going to make one rich, that all that matters is that the stock go up. But charting and technical indicators aren't going to make one rich either if he doesn't understand how or when to use them. What CS does that no other system that I know of does is combine the two into an approach that's practically fail-safe if we just pay attention. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 02 Jun 1998 20:39:25 -0400 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] Members - a drum roll please My apologies to you Tom. I misread your original message. I mistakenly read your EPS criteria to be 80++. I had been following EDAC and knew it was lower than 80. I thought you may have other variables that you would take under scrutiny when the right xxNSLIM criteria came along. My inquiry came out wrong, due to a tiring 2 day battle with a dead server, and possibly sounded a bit confrontational. Again, my apologies. Frank Wolynski At 18:55 6/2/98 -0400, Tom Worley wrote: >I miss your point Frank, my criteria calls for a minimum EPS of 75, RS >of 80++, and a "nice chart". At the time I bot EDAC, and posted it to >this groups attention (roughly 2 months ago), the EPS was 75 (passed), >RS was 99 (passed), and the chart where I bot it at 10 showed a >reversal off a nice (but short) base on volume. I might add, it also >had an A/D of A, Timeliness of A, up/down of about 2.8 or so if memory >serves me right, and a whole bunch of other great CS and fundies data >supporting my decision. Guess I just don't see the contradiction, thus >can't answer your request for "justification". > >I don't post a "buy" list, I post a "watch" list. And, yes, I do hold >myself to not only "such tight criteria", but usually more than these >requirements. On occasion I might consider a stock with slightly less >than 75 EPS, but it would be offset by an RS in the high 90s, and >current earnings that are much stronger than it had been doing, and >usually at least one bad annual earnings that caused the EPS to be >under 75. But even there 70 or 71 is my limit. But this is the basic >criteria I use for "watching" a stock that shows me solid CS >potential. I am a patient investor, as I have told several members, >and may watch a stock for weeks or months or, in a few cases, years >before finding the right entry point for myself. My adaptation to >using new tools such as TA in general or MACD in particular for timing >purposes is to avoid missing so many good stocks that I have posted in >the past and other members were more decisive and made money on. > >There are other adaptations also taking place, those that have looked >at my picks lately may have noticed a few foreign stocks sneaking >there way onto my watch list. If you see medical and financial stocks >there, tho, I'd either go to cash or short everything. That for me >wouldn't be adaptation, it would be a mental breakdown. > >Tom W > >-----Original Message----- >From: Frank V. Wolynski >To: canslim@lists.xmission.com ; CANSLIM > >Date: Tuesday, June 02, 1998 3:27 PM >Subject: Re: [CANSLIM] Members - a drum roll please > > >>The IBD shows EDAC as EPS 75. How does that fit with paragraph 3 >below? >>Do you really really hold yourself to such tight criteria? >> > > > >- > > - - ------------------------------ Date: Tue, 02 Jun 1998 21:33:53 -0400 From: Connie Mack Rea Subject: [CANSLIM] Interesting sites. From: Connie Mack Rea 21:29 Subject: Interesting sites. To: connie mack rea Members-- I was searching for some new sites for my faculty stock group. These I found interesting: http://www.cardinaltrading.com/technica.htm http://www.equitytrader.com/htm/help/html#risk [Interesting for CS] http://www.boursedata.com/chartind.htm http://www2.hawaii.edu/~rpeterso/stockmkt.htm http://www.alphachart.com/main.html [Spiffy charts, scan section, and many indicators] Connie Mack - - ------------------------------ Date: Tue, 2 Jun 1998 23:39:55 EDT From: Subject: Re: [CANSLIM] Members - a drum roll please Tom: I guessed you might have missed Viagra ;-) Surindra In a message dated 98-06-02 19:00:01 EDT, you write: << Subj: Re: [CANSLIM] Members - a drum roll please Date: 98-06-02 19:00:01 EDT From: stkguru@netside.net (Tom Worley) Sender: owner-canslim@lists.xmission.com Reply-to: canslim@lists.xmission.com To: canslim@lists.xmission.com If you see medical and financial stocks there, tho, I'd either go to cash or short everything. That for me wouldn't be adaptation, it would be a mental breakdown. Tom W - - - ------------------------------ Date: Tue, 02 Jun 1998 20:42:03 -0700 From: Dan Cash Subject: Re: [CANSLIM] Where to look for cos. earnings and sales info? This site does have a lot of info available.

Thanks
Dan

Ssingh wrote:

Try this site for a lot of information:

http://207.226.179.207/cgi-bin/getbigreport?Ticker=icui&Report=Get

Have a wonderful Thursday.

Surindra

-

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