From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #269 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, June 5 1998 Volume 02 : Number 269 In this issue: [CANSLIM] Re: Jans, your answer--Tom Re: [CANSLIM] M and a couple of stocks Re: [CANSLIM] Re: Stocksite.com [CANSLIM] Breeakouts HCFP RADAF Tom, db, CANSLIM (was: Re: [CANSLIM] Re: Jans, your answer--Tom) [CANSLIM] canslim outside USA Re: [CANSLIM] M and a couple of stocks [CANSLIM] CS Re: [CANSLIM] canslim outside USA [CANSLIM] Covering AEH. [CANSLIM] Tom - Is this guy a control freak? Re: [CANSLIM] Members - a drum roll please [CANSLIM] Technical Analysis [CANSLIM] CANSLIM will return Re: What happened to this group? (was [CANSLIM] Quality of toolb Re: What happened to this group? (was [CANSLIM] Quality of toolbox) Re: [CANSLIM] Quality of toolbox--Johan Re: [CANSLIM] Free CANSLIM (canslim outside USA)--Tom, skip ---------------------------------------------------------------------- Date: Thu, 4 Jun 1998 20:56:47 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Re: Jans, your answer--Tom <> Not flaming you, Tom, just returning the favor. And I'm afraid you're going to have to explain to me why it's OK for Connie to discuss non-CANSLIM stocks as day and swing-trades using a variety of technical indicators as aids, but it's not OK for anyone else to bring up the subject (and when did WON endorse MACD?). Either we are all welcome or none of us are. And if we are not, who is to decide who leaves? <> So skip them, Tom. I've done as much or more than you have to educate novices, and they and I have received more benefit from learning how to find, research, select, and choose entry points for stocks using CANSLIM than doing no more than trading "picks" and "tips". Why on earth should it bother you that we trade information on sites that provide the same information that DG does, for free? I, for one, am grateful for any information that enables me to do a better, more efficient job of finding and researching stocks. Lists I can find anywhere, if I chose to look for lists, which I don't. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 05 Jun 1998 00:01:49 -0400 From: Craig Griffin Subject: Re: [CANSLIM] M and a couple of stocks Frank Wolynski wrote: >Out of 197 groups, only 26 were positive last week. >Yuck! >Bottom near? >Don't know, still accelerating down actually. >(This week should slow the decline a bit though, assuming we don't have a >fraidy cat Friday!) Very nice response. Thank you Frank - I was hoping to hear from you because I knew you did a lot of industry group work. Clears the head. Regards, Craig - - ------------------------------ Date: Fri, 05 Jun 1998 01:24:38 -0400 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] Re: Stocksite.com Thanks for the tip. I started a bit of exploring myself and found an Industry Group button to click. It rewarded me with a very neat display of representative stocks from the selected group. Other groups can be selected by changing the pull down menu. It is limited to some very broad groups and seems to be an attempt to be a representative selection of stocks. Not necessarily a list to find a young canslim candidate, but certainly worth a look. And I ditto the thanks Bill! Frank Wolynski At 18:44 6/4/98 -0700, dbphoenix wrote: > > >I have been exploring this site further and have discovered that if >you select "Income Statement" under "Financials", you will receive >earnings before as well as after charges, both primary and diluted. >Who could ask for anything more? > >Thanks again, Bill. > >--Db > > > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > > - - ------------------------------ Date: Fri, 5 Jun 1998 12:32:54 +0700 From: "Peter Christiansen" Subject: [CANSLIM] Breeakouts HCFP RADAF Those interested in doing some buying in this market (not me thanks) might want to look at HCFP and RADAF. Both broke out Thursday, and are not overextended. Excellent numbers on both of them. Peter Christiansen Chiang Mai - Thailand - - ------------------------------ Date: Fri, 5 Jun 1998 09:46:13 +0100 From: "John Woodman" Subject: Tom, db, CANSLIM (was: Re: [CANSLIM] Re: Jans, your answer--Tom) >unlurk< IMO it's not going to do a great deal of good either: a) to bicker about the list discussion content [result: "losers" of the debate just go away and "winners"set the ethos], or b) to have people dissatisfied in the background. If this is something people are going to be unhappy about, why not have two lists -- a "canslim-pure" list and a "canslim-plus" list? Mailing lists aren't that hard to establish. FWIW, John W >lurk< - - ------------------------------ Date: Fri, 5 Jun 1998 09:55:00 +0100 From: "John Woodman" Subject: [CANSLIM] canslim outside USA Someone mentioned that most of the data needed for CS is posted at BigCharts; all the rest I need is in IBD, $1 a week! Trouble is, I live in England and haven't yet figured out an inexpensive way to get that kind of info from here. I remember there's a Jan from Belgium on this list, but don't have his email address handy. Jan, or others, have you figured out a cheap way to get ahold of this stuff? Dank u wel, John W - - ------------------------------ Date: Fri, 5 Jun 1998 07:02:59 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] M and a couple of stocks Thanks Frank, Refreshing to read something about what's going on with the market. Tom W - -----Original Message----- From: Frank V. Wolynski To: canslim@lists.xmission.com ; canslim@lists.xmission.com Date: Thursday, June 04, 1998 11:43 PM Subject: Re: [CANSLIM] M and a couple of stocks >At 22:50 6/4/98 -0400, Craig Griffin wrote: >...sniped.... >>Anybody noticed which industry groups or stocks seem to be firming up as >>potential new leaders (assuming the correction doesn't form a new downleg)? >>Well back to other stuff and continued lurking... >> >>Regards, >>Craig > >I track the groups weekly, daily, exclusively. >No firming of the sort that is a prelude to a big move. >Besides Retail/Major Disc Chains, other groups resisting a down draft are: >Retail-Misc/Diversified >Retail-Apparel/Shoe (somebody tell um there's a correction going on!) >Retail-Consumer Elect >and Soap&Clng Preps is advancing through the pack. >Retail/Super Mkts look like they are bouncing a bit from a steep decline. >Retail Drug Stores also gaining a bit, as of Jan 1 gained only 13.2%. > 3 weeks of advances percentage wise. > No great breakout gains though. > Looks defensive in nature. > >Nothing on the order we were seeing in January and February with groups >popping 3-6% (and more) in a breakout week. Highest gainer last week was >+3.2% after a -6.6% fall the week before. > >Out of 197 groups, only 26 were positive last week. >Yuck! >Bottom near? >Don't know, still accelerating down actually. >(This week should slow the decline a bit though, assuming we don't have a >fraidy cat Friday!) >Could be oversold, could bounce, could fall away more. >Pick one! > >Looks like some oils and techs moved a bit today. >I wonder if it will be a sustainable move? >The trend of those groups sez no. > >Frank Wolynski >(Often wrong, plan accordingly) > > >- > - - ------------------------------ Date: Fri, 05 Jun 1998 07:23:33 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] CS Tom, you wrote: > Flame me if you choose, db, but this is still supposed to be a CANSLIM > group, not a discussion forum for using technical indicators or > software packages to choose stocks. And I have seen far too many posts > in the past several months that were apparently using only that basis > (TA or software) for their stock selection criteria. That is a new, > and disturbing, and disappointing, trend to me after two years in this > group. And it's not something that just occurred, it's been going on > over time. I tend to agree with Tim Fischer's response to your comments on the group focus, the current "M" is not a CANSLIM "M", so why not utilize the forum for aquainting oneself with things that are on the fringes of CANSLIM? Perhaps if you could try to appreciate the number of members who have taken WON's price and volume signals to heart, devoted themselves to their studies and now find themselves predominantly in cash as opposed to something else, you might be more tolerant of the exchanges on TA, etc. What else are we to do, except re-read HTTMIS, watch what the "M" is doing, study group action and the new high list, consider what the A/D means and indicates, see how a short strategy works during the downturn, etc.? You launch an affront to several members who chose to respond to your scoldings, and characterize them as flames by "those that you expected to hear from". Now the discussion will enevitably devolve into more non-CANSLIM discussion, won't it? So, how about a few CANSLIM questions, instead? Perhaps we can all take away something of value from your answers, or, alternatively, you may find in answering them that you clarify your own thoughts on the "M" and take away something of value yourself. I'm not sure why my questions to you some time ago were percieved as intended to taunt, flame or harrass you, Tom. As I've repeatedly said (and been flamed for in public and private) I was quite serious about my curiosity then, and now, in attempting to understand the study, testing and experience which led you to so resoundingly reject WON's price and volume "distribution" indicators. So, here are the questions, again with one deletion which because you responded to it. Let's talk CANSLIM, Tom. 1. When you indicate a lack of clarity in distribution signals in the last 5 years, are you talking about distribution signals that pre-sage a bear market, or intermediate topping action leading to intermediate term corrections/conslidations? 2. Were the "distribution" signals "clear" to you back in early October of 1997, prior to the crash? How about January 1997? 3. If not, what exactly did you find to be unclear in each of those intermediate term tops? 4. Whether you found those tops true to WON's distribution signals, what other points in the indices did you have in mind where "distribution" signals (compression type after an 3-6 month advance) were not clear during the past five years compared to those in the prior period which are referencing in your comments here? And, since that post, I think there are a couple more "M" questions which have come up in this group which I would hope you could favor us with a reply: 5. What, if anything, was unclear to you about the price and volume "distribution" signals in the indices in early April of this year? 6. How, if at all, do you use the A/D line to confirm or dispel possible market turns? 7. Do you track leadership groups in determining Market Direction? 8. Do you see IG's that are making moves from the middle of the pack which might from which leadership might emerge with the new uptrend? Thanks in advance for your efforts on these questions, Tom. Jeffry - - ------------------------------ Date: Fri, 05 Jun 1998 14:10:28 +0200 From: alex Subject: Re: [CANSLIM] canslim outside USA Hi John, my name is Alex and I'm from Germany. The problem with IBD is really bugging me... it's a great paper and without it I find it pretty difficult to practice CANSLIM the way it's supposed to be. There are some sources on the internet, especially DailyGraphs (which is way too expensive for my part), but to find all that stuff which is basicly on a couple of pages in IBD takes a lot of effort. Because of all the problems I interpret the CANSLIM - principles not all that strictly and just check out the stocks mentioned on the list... BTW... how many on the list are not living in the US of A? bye, Alex John Woodman schrieb: > > Someone mentioned that most of the data needed for CS is posted at > BigCharts; all the rest I need is in IBD, $1 a week! Trouble is, I live > in England and haven't yet figured out an inexpensive way to get that > kind of info from here. I remember there's a Jan from Belgium on this > list, but don't have his email address handy. Jan, or others, have you > figured out a cheap way to get ahold of this stuff? > > Dank u wel, John W > > - - - ------------------------------ Date: Fri, 05 Jun 1998 08:57:31 -0400 From: Connie Mack Rea Subject: [CANSLIM] Covering AEH. Members-- I will cover my short in AEH and take away a little over a point. I will go long as soon as I am filled. STO still looks weak. I will let this short ride. Connie Mack - - ------------------------------ Date: Thu, 04 Jun 1998 23:39:41 -0700 From: "Joe J." Subject: [CANSLIM] Tom - Is this guy a control freak? I have some comments on Tom's post were he writes the following: > I'm here only, and solely, to discuss CANSLIM, its application and > interpretation in today's market, and to help novices to either the > market or CANSLIM avoid having their butt's burned....Over the past > > two years, I feel I have contributed far more to this > group than what I have taken away. > Come on Tom. I've seen you take up more bandwidth on this CS forum with non-CS matters than probably anyone else. And, quite frankly, I never really minded that much. Other than your recent run-in with Jeffery, apparently few others did either. You post your comments on the economic calendar, events in Irac (how "Sadamn" caused you to sell a stock), how first you lost your job (members cried), then found a new one (members cheered). Just recently you posted your comments on what a person should do with their shares of DIGI b/c of a buyout. And, Tom, wasn't it you that posted your very detailed findings on how you discovered how MACD could help you time CS entries? OK, Tom now what page of HTMMIS can I find all the topics of these postings discussed if I want to verify them? Tom, I obviously think you belong and contribute greatly to this group so, don't use my comments to quit again (what was that all about anyway?). But, come on Tom. Db and others have contributed a GREAT deal to this group also. If you can discuss items not CS, why can't anyone else? I think this goes to the heart of what Jeffery's disagreement with you was all about - you appear to be some type of control freak and it appears that you are trying to control this list. Why? Why is it ok if, because Connie asks YOU (no one else) if he can be a guest and discuss TA, YOU think it's all right? But, if Db, who is far more closely a Canslimer than Connie is, discusses TA, you jump all over him. Perhaps you would have a different view if Db had asked YOUR permission first? Tom, if you simply read the title of a post and it says, "How I use multiple MA's to screen stocks on my new QuotesPlus software package", or "Are Yahoo's Indices in Real Time or Not?", just skip the damn thing the same way I skipped all those posts about you losing your job! Since Db's return to the group, I have found his posts to be highly informative, as I do yours, Tom (see I'm a nice guy), and Jeffery's and Connie's and Patrick's and yada, yada. I certainly don't think we are missing any new CS stocks because someone is commenting on a new software package! It's just a rough time right now and WON's own "M" analysis is telling you to be out of the market anyway (if the signals are not unreliable or uncleargiven the changes is recent years which make it more difficult - did someone else say something like that?). What's the harm? Or, Tom, is it something more? Joe J. (not to be confused with "joe, I don't know a thing") - - ------------------------------ Date: Fri, 05 Jun 1998 06:52:52 -0400 From: Tom Worley Subject: Re: [CANSLIM] Members - a drum roll please Frank, there has been virtually no discussion on my project. There has been none at all on the merits of using MACD vs any other indicator except for what Connie gave me. There has been no constructive criticism, nor other comments, on the concept I came up with. What I am working on is solidly and intrinsically CANSLIM based, using TA at the tail end to try and fine tune entry and exit. What I am complaining about is spending 3/4 of the email from this group arguing over which indicators to use for day trading. That would be perfectly fine and appropriate in a daytraders forum, but this is a CANSLIM group, let's either bring it back to that, or change the focus to what the members want if it's to become just another general investing and stock and technique discussion group. I've been here for two years because I want to live, eat and breathe CANSLIIM as designed and postulated by William O'Neill. I've tried other investing techniques over the decades, and I'm not here to argue the merits or disadvantages of them. I have chosen CANSLIM as my style, that's why I am here, that's what this group used to be about. I am not opposed to discussion of how best to use technical analysis. I have learned a lot from Connie and appreciate his contributions. But I would like to start seeing the bulk of email from this group on CANSLIM instead of a wide variety of other topics. If someone wants to respond specifically to my attempt, however feeble, to apply TA to improving my CANSLIM investing and overcoming my hesitation to commit, then fine. But the ongoing discussions on TA were going on for months before I posted my "theory", and have continued since, and had nothing to do with my post. Tom W - -----Original Message----- From: Frank V. Wolynski To: canslim@lists.xmission.com ; CANSLIM Date: Thursday, June 04, 1998 11:25 PM Subject: Re: [CANSLIM] Members - a drum roll please >I didn't go completely back to the beginning of the conversations regarding >TA, but Tom your last sentence in the message below is: ">Comments and >feedback most welcomed, privately or to the group." > >So what's it to be? >You want comments and discussion or not? > >Confused! >Frank Wolynski >(Often wrong, plan accordingly.) > >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: Sat, 06 Jun 1998 01:15:18 +1200 From: Dean Edwards Subject: [CANSLIM] Technical Analysis I know this is a bad time to be posting stuff on technical analysis. But this is a very good site for beginners and has a lot of tips. Includes the classic cup and handle formation http://www.cardinaltrading.com/technica.htm - - ------------------------------ Date: 5 Jun 1998 08:48:59 -0500 From: "Hilton Steve" Subject: [CANSLIM] CANSLIM will return From a lurker, Been reading complaints about how the forum has moved from CANSLIM to TA. I've noticed that myself lately but I think that is more because 'M' is not looking so good at the moment. There are a lot of active posters that like to post but at the moment there is not a lot of CS to post about so tangents arise. Be patient, CS will return. From my point of view, it doesn't hurt to listen to other perspectives especially when 'M' is lame. I don't read the posts unless the title interests me anyways. Now that I think about it, now is a good time to look for rising industry groups. I noticed that Medical-HMOs have risen very quickly. Will they continue to rise. I was watching UNH (sorry don't have the CS analysis available) and did not bite when it broke out over 70 because I thought it was a weak breakout; still considering it when 'M' improves. I don't know of the other stocks in this group, but the group may have potential to rise some more. There was an article in IBD recently saying you should look for industry groups breaking into the top 50 that were in the bottom 100 three months ago. That seems like a reasonable strategy; I believe in sector rotation. Speaking of sector rotation, I've been watching the Semi-Equip group (AMAT has been a frequent play for me) sit at the bottom for a while now; it has to come back up eventually. For a value play AMAT may be an excellent choice. Ah! Sorry, not CANSLIM. I'm afraid that by the time AMAT becomes a good CS it will have risen a good deal; therefore I will try to see what I can do to fit C-A-N-S-L-I-M to it. I know it has L and I. It's not S, but people seem to be straying from that. EPS ranking and RS are not so hot. I'll search for an N. And as it is 'M' is lame till we get a buy signal. This market correction has been odd as it has been a slow bleeder. Didn't really see any clear cut distribution days on the markets; I just was getting forced out of everything. Everyone keep up the good work! Sorry for any non-CS discussion; hey, I'm just a lurker! Steve - - ------------------------------ Date: Fri, 5 Jun 1998 06:56:23 -0800 From: "Patrick Wahl" Subject: Re: What happened to this group? (was [CANSLIM] Quality of toolb > From: "Tom Worley" > To: > CANSLIM rules, I am just missing the whole point of all these posts > lately about which technical indicators to use, and what software > package works better, and whose opinion is right on whether Yahoo > provides real time or delayed index quotes, or whether one tool in the > toolbox is better than another. I agree with part of your complaint here, but I'm a bit confused why all of a sudden you are critical of people talking about technical indicators. Seems like you have been the most supportive of Connie Macks posts on 3-10 etc. MA and the like. If he is going to post those, it is naturally going to lead to further discussion. Are you now saying he should not post on those things anymore? I agree, I think it leads too many people astray from a focus on CANSLIM stocks. I have been deleting all those posts on TA without reading them for months if I can identify them as such from the subject header. The other complaints of yours I don't agree with. Discussions of web sites and software are helpful, and those threads resolve themselves in a day or two. How many web sites do you suppose you have found because of suggestions from the group? Also, the collective resources of this group of investors is fairly substantial, so what better place to pick up the odd tidbit on the tools of the trade? The reason I don't object to those non-canslim posts, while objecting to the TA non-canslim posts, is that the TA has become an ongoing part of the group, and it is too far astray from trying to just pick a good CANSLIM stock. Finally, how do some of these posts differ in merit from some of your non-canslim posts, such as one today on buyouts (which, BTW, I am not objecting to)? I think the occasional off top post is fine, as long as it doesn't evolve into an on-going sub-topic in this group, and that is what all the Technical analysis talk has become. Anyway, end of ranting. If people will continue to post on TA, I won't leave, just continue deleting such posts if my early warning system can spot them soon enough. - - ------------------------------ Date: Fri, 05 Jun 1998 15:51:40 +0200 From: Johan Van Houtven Subject: Re: What happened to this group? (was [CANSLIM] Quality of toolbox) Tom, Some of the reasons why I am interested in scanning and charting packages are: - - I want to be able to produce a list of stocks with top-notch fundies (per CANSLIM) that are in a basing pattern. Example: The lists that Peter Christiansen has posted a few times. After they have broken out/down I want to be able to easily track them chart-wise. - - I want to be able to track industry groups. - - I want to be able to make my own industry and other types of groups. - - I want to be able to make an index such as the Iandex. An index that is composed of the current leaders (the leaders are selected from the market leading groups when a new uptrend in the markets starts). - - I want to have all the necessary data on my PC. Why do I want it on my PC? Because here in Belgium the phone company charges per second, even for local access. Alas we have no such thing as free local phone calls here. My phone costs for internet-based access only EXCLUDING Internet provider cost are about $2750 per year. I can literally see the $ go through the phone line when I'm browsing DG Online or when I'm looking at BC charts. A utility called 'Timer' tracks my phone costs in real-time. It reminds me how much I've spend already during the current session. Internet access from here is probably much slower than what you are experiencing. BC often is nerve-wreckingly slow for me. The less time I spend on the Internet the more money I save. Money I would rather spend on 'toolbox' stuff. - - I want to be able to do all kinds of charting while being off-line. A) It saves me a lot of money. Being on-line is relatively expensive for me. B) Off-line charting is much faster for me. C) The charts are bigger and clearer for me. BC charts are too small for me to be considered 'clear'. D) I want to browse through a lot of charts quickly. An online service can not do that for me. E) I want to be able to switch between linear and logarithmic (with different log-bases) quickly. F) I want to be able to draw trendlines quickly. G) I want to be able to store a chart that I have annotated quickly and easily. Basically, I want to search for CANSLIM stocks in the most cost-efficient way possible for me. I have noted that there are lots of successful CANSLIM investors/traders, some of who are on this list and some of who are not on this list, that use scanning and charting packages to track and select their CANSLIM stocks. So I see nothing wrong with discussing the pro's or con's of these packages on this mailing list. As long as they are used to find CANSLIM stocks. I do share your concern about all the strictly TA related stuff on the list. Not that it bothers me personally. I can place it in the right context. But I am certainly concerned that those who are new to CANSLIM investing might get the wrong idea. Just imaging that you are new to CANSLIM investing and you had recently joined this list. Well, it does not surprise me, that some of them must be thinking that they have found the 'hidden' or the 'secret' TA tidbits about CANSLIM investing. The stuff that was not in the book, in the seminars, that WON kept for himself and his institutional clients. For the rest I have to say I enjoy this list a lot. I'm especially grateful for dbphoenix's insightful, educational and though-provoking posts, for Jeffries market-related posts and Frank Wolynski industry group-related posts. (There are others, but their names do not come to mind at the moment. Forgive me for that guys/gals.) Johan Van Houtven At 09:12 PM 04/06/98 -0400, you wrote: >Johan, nothing personal against you, your response just happened to be >the one I snagged to use as a vehicle to vent some steam, and share >what I have been seeing in this group lately. > >Maybe, being one of those unsophisticated kind of investors that >choose to ignore all the fancy smancy software packages and just pick >stocks mostly in an old fashioned way by hand using WON's basic >CANSLIM rules, I am just missing the whole point of all these posts >lately about which technical indicators to use, and what software >package works better, and whose opinion is right on whether Yahoo >provides real time or delayed index quotes, or whether one tool in the >toolbox is better than another. > >Frankly, I am naive enough to believe that if a person who is making >his living off trading the market (like Connie) finds a site like >BigCharts to be an effective tool for his toolbox, then so what if >it's free instead of costing $40!! I'm willing to bet that Connie >would spend that $40 if he thought it could make him more money. He >likely spends well over that amount every day in trading charges >alone. It actually sounds like quite a compliment to BigCharts that >they can be better, for free, than a commercial package, and still get >the job done. Personally I just appreciate whoever first brought it to >this group's attention (may have been Connie, just don't remember) and >many thanks to Connie for all his lengthy posts on how to use BC and >TA better, complete with many detailed examples. > >I've been trying to restrain myself for some time, even before I quit >this group a while back. But frankly, it's hardly deserving of calling >itself CANSLIM any longer. I doubt even a qtr of the email I am now >getting from this group are remotely on any related CANSLIM target. >With something like 35,000 newsgroups out on the net, can we get back >to CANSLIM and let those interested in arguing the merits of one >software package over another, or whose opinion is right on which TA >indicators to use, or whether BC's definition of MF is valid or >correct take those unrelated or barely related topics to a more >appropriate forum?? > >Lately, it's been real difficult finding the occasional mention of >CANSLIM, much less a CS stock, in and amongst all the "noise" coming >out of this group. I've been relatively quiet lately, and that's one >of the reasons. I'm still mulling over how, and if, to answer jan's >post and questions, which would hopefully cover the rest of the >reasons. I'm already getting up an extra hour early in the morning to >give me some addl time to study charts. Simply put, I could better use >all the time I spend reading most of the posts from the group lately. > > >Tom W > >-----Original Message----- >From: Johan Van Houtven >To: canslim@lists.xmission.com >Date: Thursday, June 04, 1998 2:39 PM >Subject: [CANSLIM] Quality of toolbox > > >>DB wrote: >>>You can't do this with BigCharts, of course, but since WOWS Pesonal >>>Investor only costs around $40, and since it's the only program >other >>>than Telescan that provides fundamental screening suitable for >>>CANSLIM, it seems like a false saving to try to use free programs >when >>>the cost of a more sophisticated program can be made back in a day, >>>given the quality of information it provides. I'm not a salesman >for >>>WOWS, but I do get a lot of questions about charts and charting, and >>>I've learned that the degree of one's success is at least somewhat >>>related to the quality of tools in one's toolbox. >> >>DB, >> >>Which packages did you look at before deciding on WOWS? Did you test >or >>investigate any other packages after you decided on WOWS? >> >>>From what I read you even use WOWS to track groups, correct? >> >> >> >>Johan Van Houtven >>CLICK! N.V. / Wilrijk, Belgium >> >> >>- >> > > >- > > - --- Johan Van Houtven - - ------------------------------ Date: Fri, 5 Jun 1998 06:56:23 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Quality of toolbox--Johan > Date: Thu, 4 Jun 1998 11:55:57 -0700 (PDT) > From: dbphoenix > There are only two programs that allow you to screen for both > fundamentals and technicals--WOWS and Telescan. I went with WOWS > because of the flexibility; you can't write your own formulas with > Telescan (this sounds very intimidating but it's really pretty simple > if somebody shows you how, and I was lucky enough to find somebody to > show me how to do simple stuff). Plus I never could figure out the > Telescan jargon. Gave me a giant headache each time. What is the cost of the WOWS software? I thought you said $40, but I also think I've seen it advertised for around $300, so maybe they are different versions. - - ------------------------------ Date: Fri, 5 Jun 1998 07:57:00 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Free CANSLIM (canslim outside USA)--Tom, skip <> If I may, John, allow me to pull together in one spot what I've posted regarding accumulating all this data for free. You don't say exactly what you mean by "data needed for CS", so I'll assume it's the usual and ordinary. For financial information, go to Bill's find, http://www.stocksite.com/ . If you select "Financials", you'll receive everything DailyGraphs provides in this area, including earnings before charges (if you click "Income Statement"). Stocksite does not do the percentage changes for you, but you may, if you like, figure them with a $2 calculator rather than subscribe to DG for the information. Note: DG provides two years' info; stocksite supplies up to three. For RS, EPS, GS, A/D and other information, go to http://members.aol.com/RANord/ or http://www.delphi.com/invest/ Regarding the latter, you must register, but it's free. Select Investor's Forum, then go to the CANSLIM list (this comprises the bulk of the discussion). Select the "Weekly Stock List" for stocks, or the "Weekly IBD Calculated Group RS List" for groups. If you have trouble navigating the site, let me know. For charts, for percentage gainers in price and volume, and for stocks reaching new highs and lows (among other things), go to BigCharts (http://www.bigcharts.com/). If you're an intermediate-term investor, as I am, use the following settings: Time: YTD (then six-month and three-month, if you like) Frequency: Daily (or Weekly, if you prefer) Moving Averages: EMA(3-Line). Type in 20, 50, 200 (or 150). Upper Indicators: None Lower Indicators: Volume+ Chart Style: Change "Chart Size" to "large". If you want it even larger, select "Print Chart" and "OK". Then you can print or not, as you prefer. Make these your defaults. You can change your settings, such as Time, as you wish, but as long as you don't save the changes, the default settings will remain as they are. If you want to experiment with RSI, stochastics, and MACD, you're free to do so, but you can put up only one of these at a time. If you want to plot them all at once, you'll have to get a separate charting program. And that's it. CANSLIM for free (except for the $2 calculator). What to do with all this information is the trick, but, at a minimum, all you need to know is contained within these sites. For keeping up with news, upgrades/downgrades, price movement, etc., you can't do better than a Yahoo portfolio, which is also free. But setting that up is a whole 'nother post, one which I made to Tim several days ago. If you have any questions, please ask. You can buy me a yard next time I'm over there. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ End of canslim-digest V2 #269 ***************************** 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.