From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #279 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 12 1998 Volume 02 : Number 279 In this issue: Re: [CANSLIM] Clear Station [CANSLIM] CNNG Re: [CANSLIM] CNNG Re: [CANSLIM] CNNG [CANSLIM] AMZN non-CANSLIM Re: [CANSLIM] AMZN non-CANSLIM Re: [CANSLIM] FTIC, PMCO [TA comment on ibid. Connie] [CANSLIM] AMZN - Johan "L" Re: [CANSLIM] AMZN non-CANSLIM Re: [CANSLIM] AMZN - Johan "L" RE: [CANSLIM] AMZN - Johan "L" Re: [CANSLIM] AMZN - Johan "L" RE: [CANSLIM] AMZN - Johan "L" Re: [CANSLIM] FTIC, PMCO [TA comment on ibid. Connie] Re: [CANSLIM] Triple Witching (was AMZN - Johan "L") [CANSLIM] canslim.net Any other members been contacted? RE: [CANSLIM] CNNG Re: [CANSLIM] CNNG Re: [CANSLIM] AMZN - Johan "L" and the Market [CANSLIM] AMZN - Johan [CANSLIM] AMZN - Db [CANSLIM] Polotics 101 [CANSLIM] AMZN - Nelson RE: [CANSLIM] AMZN - Johan "L" [CANSLIM] Tom W DO NOT READ Re: [CANSLIM] Jeffry Re: [CANSLIM] Tom W DO NOT READ [CANSLIM] Reading the market by charts and by the number of CS posts. [Connie] [CANSLIM] Intro: Walter Stock ---------------------------------------------------------------------- Date: Thu, 11 Jun 1998 09:13:11 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Clear Station When viewing a chart, under Details on the menu bar, select Fundamental Backdrop. It's much less than is available by selecting research, advanced research, and profile at Yahoo. At least the formatting got better since the last time I tried it. At 06:47 AM 6/11/98 , you wrote: >On Thu, 11 Jun 1998 06:19:25 -0700 (PDT), you wrote: > >:I have been a Beta tester for a few months and my comments to them were to >:drop the Tag & Bag or else refine it, since I can get the same list of >:stocks from Big Charts, and I wouldn't want to wade through them anyway >:since they are _usually_ one-day shots or one-week wonders like KTEL. I >:think their portfolio tracking needs a bit of work too. Yahoo does a better >:job IMHO. I am working on them to get some CANSLIM fundies up there and a >:searchable database for the important numbers. There is a fundies report but >:it's hard to find, horribly formatted, and lacking in detail. > >I just registered and set up a portfolio. It does suffer in comparison >to Yahoo's portfolio tracking, considerably...at least at first >glance. But then, Yahoo's is awesome, to be sure. Where is the "hard >to find" fundies report? > >Dan > Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites mailto:Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Fri, 12 Jun 1998 01:11:36 +0800 From: "Viv Tansley" Subject: [CANSLIM] CNNG Hi, I've been watching CNNG for a while now, EPS 97 RS 79 GRP RS 99 , no debt, low fund ownership, 80% growth.(DG Data) Long 10 wk base (I think). Any comments appreciated, Viv - - ------------------------------ Date: Thu, 11 Jun 1998 11:09:37 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] CNNG <> Looks like CNNG was an IPO in December, which makes it difficult not only to do any fundamental work (without descending into the SEC basement) or technical work (since it's traded for so few months). Plus it's a holding company, meaning that if you really wanted to do a thorough job on the fundies, you'd need to look at each subsidiary. I've never had a whole lot of luck with holding companies, but others might have had better experiences. Perhaps the low fund sponsorship may be due to a perception on the funds' part that asset management isn't very exciting. To look at this through CANSLIM glasses, you'd have to determine whether the company does what it does better, cheaper, and faster than anyone else. That would make it a leader. I haven't been able to get detailed financials (without going to EDGAR), but it looks as though the PE is pretty much in line with growth expectations. Therefore, it could remain in this base for a good long while. You could also just ignore the fundies and follow the chart, waiting for a breakout and going for a short-term trade. With so little technical history, though, it would be tough to determine a price target, unless perhaps 21.50 is worth your while. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 11 Jun 1998 11:37:58 -0700 From: wgs@earthlink.net Subject: Re: [CANSLIM] CNNG Greetings Viv, from Australia b'gosh, Here is what one broker has to say: "On February 6, 1998 A.G. Edwards's Research Department issued a 11 page Company Report on Conning Corp. Report highlights: 'A BUY rating was maintained with a target price of $21 per share. This was based on the belief that the company has the ability to outsource many of its services as well as capitalize on its insurance knowledge and abilities.' " My Take - hardly a CANSLIM choice - new issue - no track reccord - sell. ;-) Bill-->> Viv Tansley wrote: > > Hi, > I've been watching CNNG for a while now, > EPS 97 RS 79 GRP RS 99 , no debt, low fund ownership, 80% growth.(DG Data) > Long 10 wk base (I think). > > Any comments appreciated, > > Viv > > - - - ------------------------------ Date: Thu, 11 Jun 1998 22:09:35 +0200 From: Johan Van Houtven Subject: [CANSLIM] AMZN non-CANSLIM Seems like the 'N' is enough for AMZN. They launced an online music store. AMZN does not care about 'C', 'A' or 'M' for that matter. The Acc/Dis = B per DGO. I wonder where it will go when it has an 'A' rating? ;^) I wish my CANSLIM stocks had breakouts like this! NAZ held in the 1740-50 area again. At least for today. [Still 100% in cash - except for the intra-day trading.] Johan Van Houtven CLICK! N.V. / Wilrijk, Belgium - - ------------------------------ Date: Thu, 11 Jun 1998 14:11:10 -0700 (PDT) From: Anindo Majumdar Subject: Re: [CANSLIM] AMZN non-CANSLIM Its been breaking out the past few days. In fact most of the Internet stocks have resisted the selloff in the general market. YHOO, XCIT, AOL AMZN, SEEK have done very well. Anindo > > Seems like the 'N' is enough for AMZN. They launced an online music store. > > AMZN does not care about 'C', 'A' or 'M' for that matter. > > The Acc/Dis = B per DGO. I wonder where it will go when it has an 'A' > rating? ;^) > > I wish my CANSLIM stocks had breakouts like this! > > NAZ held in the 1740-50 area again. At least for today. > > [Still 100% in cash - except for the intra-day trading.] > > > > Johan Van Houtven > CLICK! N.V. / Wilrijk, Belgium > > > - > > - - ------------------------------ Date: Thu, 11 Jun 1998 15:38:29 -0700 From: wgs@earthlink.net Subject: Re: [CANSLIM] FTIC, PMCO [TA comment on ibid. Connie] Here is the real story! (You are both wrong. :-)) Bill-->> - ---------------------------------- Friday May 8, 10:10 am Eastern Time Company Press Release ProMedCo Offering of 6 Million Shares Priced At $11.00 FORT WORTH, Texas--(BUSINESS WIRE)--May 8, 1998--ProMedCo Management Company (Nasdaq/NM:PMCO - news) today announced that its public offering of 6 million shares of Common Stock, all of which are being sold by the Company, has been priced at $11.00 per share. Managing underwriters for the offering are Piper Jaffray Inc.; Bear, Stearns & Co. Inc.; and Cowen & Company. The Company's net proceeds of approximately $63 million from the offering are expected to be used to repay indebtedness under the Company's revolving credit facility, with the balance being used to fund future acquisitions, working capital needs, and for general corporate purposes. The Company has granted the underwriters an over-allotment option to purchase up to an additional 900,000 shares of common stock. Prospectuses may be obtained from Piper Jaffray Inc., Piper Jaffray Tower, 222 South Ninth Street, Minneapolis, MN 55440, (612) 342-6000; Bear, Stearns & Co. Inc., 245 Park Avenue, New York, NY 10167, (212) 272-2000; or Cowen & Company, Financial Square, New York, New York 10005, (212) 495-6000. ProMedCo, headquartered in Fort Worth, Texas, is a physician practice management company. ProMedCo's focus is to facilitate the consolidation of physician groups into primary care-driven, multi-specialty networks. The Company provides expertise in managed care, access to capital, information systems and experienced management. Contact: ProMedCo Management Co., Fort Worth H. Wayne Posey, 817/335-5035 dbphoenix wrote: > > < This spike is red though the volume was positive. The redness occurs > in the presence of what would intuitively be thought greeness. > Because the stock opened below the previous close and > closed lower than the previous close, the volume is recorded as red, > and therefore negative. There is, however, a counter intuitiveness > that recognizes that this red spike is in reality green; i.e., the > volume for that day, were it not influenced by the > previous close, would be recorded as green.>> > > Having a little trouble here. I don't see the spike as "really" > green. I see it as "really" red because in all those three million > shares there wasn't enough demand to push the stock above the previous > day's close. One could argue that this is only one day and that the > volume for the day was, in fact, "up". But a weekly chart shows the > spike as red as well. The red spike is supposed to reflect the > relationship between supply and demand, and, in this case, it seems to > do so since the stock's descent continues. > > --Db > > _________________________________________________________ > DO YOU YAHOO!? > Get your free @yahoo.com address at http://mail.yahoo.com > > - - - ------------------------------ Date: Thu, 11 Jun 1998 18:38:43 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] AMZN - Johan "L" Johan Van Houtven wrote: > > Seems like the 'N' is enough for AMZN. They launced an online music store. > > AMZN does not care about 'C', 'A' or 'M' for that matter. > > The Acc/Dis = B per DGO. I wonder where it will go when it has an 'A' > rating? ;^) > > I wish my CANSLIM stocks had breakouts like this! > > NAZ held in the 1740-50 area again. At least for today. > > [Still 100% in cash - except for the intra-day trading.] > > Johan Van Houtven > CLICK! N.V. / Wilrijk, Belgium > > - > > Original Recipient: JWHITE.MHS @ TJOSLIN Johan: The only component of CANSLIM that AMZN has, as far as I can see, is "L", which resulted in this latest "short squeeze". This squeeze has reduced my small collection of AMZN Puts to something resembling an OTC-BB issue, but the spread and liquidity are not as attractive. Imagine being correct on Market Direction and taking such a drubbing!! Fortunately, I've got time on my side, very small position relative to trading capital and a finite risk (almost all of which is now staring me in the face). ;) Indices are all staring at the moment of truth, again. "Oh Sh*t" open, followed by a reversal on higher volume like May 27? Or, convincingly take out those lows and explore the subterranean world with the dipsters under water? Sentiment still to bullish, on my screen, for a legitimate bottoming action. Can't wait to wake up and see those futures. regards JWW. - - ------------------------------ Date: Fri, 12 Jun 1998 00:27:50 +0200 From: "Alexander Herrmann" Subject: Re: [CANSLIM] AMZN non-CANSLIM Amazon killed me - I was short it for a longer time but what a breakout :( Alexander Herrmann eMail: alex@who.net - -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- TOP 10 THINGS LIKELY TO BE OVERHEARD IF YOU HAD A KLINGON ON YOUR SOFTWARE DEVELOPMENT TEAM 10. "This code is *rukh!* You have no honor." 9. "My program has just dumped Stoval Core." 8. "Behold, the keyboard of Kahless, the greatest Klingon code warrior who ever lived!" 7. "A *true* Klingon warrior does not comment his code." 6. "You dare file a bug in my code? You question my family honor... prepare to die!" 5. "Our competitors are without honor." 4. "You question the worthiness of my code? I should kill you where you stand!" 3. "Specs are for the weak and the timid." 2. "This machine is a piece of *gagh!* I need dual Pentium II processors and 64 MB of RAM if I am to do battle with this code!" And, the #1 thing likely to be overheard if you had a Klingon on your software development team: "Perhaps it *is* a good day to die... I say we ship it." - - ------------------------------ Date: Thu, 11 Jun 1998 16:06:55 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] AMZN - Johan "L" <> Just like Christmas morning, eh Jeffry? ;) I, for one, would like to just get to 1700 and 8300 and get on with it. The water-torture type of correction is a real bummer. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 11 Jun 1998 19:17:22 -0400 From: "Nelson E. Timken, Esq." Subject: RE: [CANSLIM] AMZN - Johan "L" You mention a "bottoming" and I am wondering what your analysis forecasts as the bottoming point for the market. I expect we will see another down day tomorrow and continuing into triple witching. Nelson E. Timken http://www.onelist.com/subscribe.cgi/investing-list - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of dbphoenix Sent: Thursday, June 11, 1998 7:07 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] AMZN - Johan "L" <> Just like Christmas morning, eh Jeffry? ;) I, for one, would like to just get to 1700 and 8300 and get on with it. The water-torture type of correction is a real bummer. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - - - ------------------------------ Date: Thu, 11 Jun 1998 19:36:05 -0700 From: David Reid Subject: Re: [CANSLIM] AMZN - Johan "L" Would somebody please tell me what triple witching is ? I have heard reference to this term several times in the last couple of days. And please excuse my ignorance. David Nelson E. Timken, Esq. wrote: > You mention a "bottoming" and I am wondering what your analysis forecasts as > the bottoming point for the market. I expect we will see another down day > tomorrow and continuing into triple witching. > > Nelson E. Timken > http://www.onelist.com/subscribe.cgi/investing-list > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com] On Behalf Of dbphoenix > Sent: Thursday, June 11, 1998 7:07 PM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] AMZN - Johan "L" > > < action. Can't wait to wake up and see those futures. > > regards > > JWW.>> > > Just like Christmas morning, eh Jeffry? ;) > > I, for one, would like to just get to 1700 and 8300 and get on with > it. The water-torture type of correction is a real bummer. > > --Db > > _________________________________________________________ > DO YOU YAHOO!? > Get your free @yahoo.com address at http://mail.yahoo.com > > - > > - - - ------------------------------ Date: Thu, 11 Jun 1998 19:17:22 -0400 From: "Nelson E. Timken, Esq." Subject: RE: [CANSLIM] AMZN - Johan "L" You mention a "bottoming" and I am wondering what your analysis forecasts as the bottoming point for the market. I expect we will see another down day tomorrow and continuing into triple witching. Nelson E. Timken http://www.onelist.com/subscribe.cgi/investing-list - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of dbphoenix Sent: Thursday, June 11, 1998 7:07 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] AMZN - Johan "L" <> Just like Christmas morning, eh Jeffry? ;) I, for one, would like to just get to 1700 and 8300 and get on with it. The water-torture type of correction is a real bummer. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - - - ------------------------------ Date: Thu, 11 Jun 1998 15:47:54 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] FTIC, PMCO [TA comment on ibid. Connie] <>>> LOL!! One for you, Bill, though the demand for those shares was not in fact enough to push it higher than the previous day's close, and the effect of the offering was to drive the price lower. Just happy I didn't own it. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 11 Jun 1998 21:15:56 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Triple Witching (was AMZN - Johan "L") Almost missed this question because of the misleading subj line, but I'll jump in since don't see any other answer to the question. Triple witching occurs late in each quarter. It is the date in which trading ends on all expiring equity, index and Treasury/interest rate options. These options actually expire on the Saturday following the third Friday of the month, while actual trading ceases on the third Friday of the month. In March, June, Sept, and Dec, all three option groups expire together, leading to greater volatility in the mkt as traders square their positions in both the options and the underlying product. Some years ago, this excessive "options related" volatility was limited mostly to the Friday expiration. But over time, more and more "money manager" types wanted to escape this unpredictable action, and began adjusting their holdings on Thursday, then when that became volatile, to Wednesday, etc. Now, you can expect some "options related" volatility during the full week preceding any major options expiration. And naturally this effect will be exaggerated during the week of "triple witching". In fact, this volatility has now been so spread out that the Friday of triple witching has often been rather boring. Tom W - -----Original Message----- From: David Reid To: canslim@lists.xmission.com Date: Thursday, June 11, 1998 7:32 PM Subject: Re: [CANSLIM] AMZN - Johan "L" >Would somebody please tell me what triple witching is ? I have heard reference >to this term several times in the last couple of days. >And please excuse my ignorance. > >David > - - ------------------------------ Date: Thu, 11 Jun 1998 21:34:20 -0700 From: David Reid Subject: [CANSLIM] canslim.net Any other members been contacted? > I received a call from someone at canslim .net today.They apparently are trying some kind of brokerage or newsletter service or some sorts. Anybody in the group know anything about this. I do recall a recent post to this group about it becoming a pump and dump or some sort of name. just curious David - - ------------------------------ Date: Fri, 12 Jun 1998 10:59:29 +0800 From: "Viv Tansley" Subject: RE: [CANSLIM] CNNG Thanks Db & Bill for your comments. Viv - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of dbphoenix Sent: Friday, June 12, 1998 2:10 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] CNNG <> Looks like CNNG was an IPO in December, which makes it difficult not only to do any fundamental work (without descending into the SEC basement) or technical work (since it's traded for so few months). Plus it's a holding company, meaning that if you really wanted to do a thorough job on the fundies, you'd need to look at each subsidiary. I've never had a whole lot of luck with holding companies, but others might have had better experiences. Perhaps the low fund sponsorship may be due to a perception on the funds' part that asset management isn't very exciting. To look at this through CANSLIM glasses, you'd have to determine whether the company does what it does better, cheaper, and faster than anyone else. That would make it a leader. I haven't been able to get detailed financials (without going to EDGAR), but it looks as though the PE is pretty much in line with growth expectations. Therefore, it could remain in this base for a good long while. You could also just ignore the fundies and follow the chart, waiting for a breakout and going for a short-term trade. With so little technical history, though, it would be tough to determine a price target, unless perhaps 21.50 is worth your while. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - - - ------------------------------ Date: Thu, 11 Jun 1998 22:32:42 -0500 From: Luke Lang Subject: Re: [CANSLIM] CNNG I know that many have responded already with lots of good reasons to not touch this. I just want to throw out one more. The daily volume is much too low to merit any consideration at all. Luke Lang Viv Tansley wrote: > > Hi, > I've been watching CNNG for a while now, > EPS 97 RS 79 GRP RS 99 , no debt, low fund ownership, 80% growth.(DG Data) > Long 10 wk base (I think). > > Any comments appreciated, > > Viv > > - - - ------------------------------ Date: Fri, 12 Jun 1998 10:46:30 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] AMZN - Johan "L" and the Market Jeffry wrote: >The only component of CANSLIM that AMZN has, as far as I can see, is >"L", which resulted in this latest "short squeeze". Hmmm... I thought KTEL was the leader. ;^) Seriously, AMZN indeed has the 'L', as it was the first (?) and most succesful of the lot. Is also has the 'N', as the 'music dept' is new for them, although selling CD's via the net is not new. The only reason I could come up with (and this is therefor imagination) that AMZN broke out is because of the 'new' product, i.e. their 'music dept'. Of course the break-out was helped a lot by the short-squeeze once it got going. >Imagine being correct on Market Direction and taking such a >drubbing!! Imagine making a little money on intra-day trading a 'decent' stock like LU, while the stock that sits 2 lines beneath on your quote screen goes up like crazy every day [AMZN]. :-) >Fortunately, I've got time on my side, very small position >relative to trading capital and a finite risk (almost all of which is >now staring me in the face). ;) I like your sarcastic talent Jeffry. Maybe because I like humor like Monty Python, Faulty Towers . LOL. Yes, I can image those little AMZN puts sitting there and staring you in the face. I can almost hear what they are telling you too... ;^) >Sentiment still to bullish, on my screen, for a legitimate bottoming >action. Indeed. The contra-trend ralley we have had was a nice head fake though. Probable got a bunch back in. They are now getting 'wipped' for that. If it was my choice, which it clearly isn't, I hope we breakdown big. We need to shake the weak hands out. We need to punish those bottom pickers, and scare those long-term holders into selling. It's cruel but it has to be done. ;^) JVH - [putting on asbetos suit and shouldering fire extinguisher]. - --- Johan Van Houtven - - ------------------------------ Date: Fri, 12 Jun 1998 06:51:12 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] AMZN - Johan > Seriously, AMZN indeed has the 'L', as it was the first (?) and most > succesful of the lot. > Sorry, I meant "S". - - ------------------------------ Date: Fri, 12 Jun 1998 06:54:08 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] AMZN - Db > dbphoenix wrote: > > > > < > action. Can't wait to wake up and see those futures. > > > > regards > > > > JWW.>> > > > > Just like Christmas morning, eh Jeffry? ;) > > > > I, for one, would like to just get to 1700 and 8300 and get on with > > it. The water-torture type of correction is a real bummer. > > > > --Db > > > > _________________________________________________________ > > DO YOU YAHOO!? > > Get your free @yahoo.com address at http://mail.yahoo.com > > > > - > > I trust you are referring to the futures because the AMZN short is making me feel like Little Cindy Lou-Who down in Who-ville. Or is that Hoo-hoo ville? What a freight train. :D Unfortunately, I see the futures are up this morning. Sure was hoping for that flush. But, now I can visualize your Dow 8300 and Nasdaq 1740, Db. - - ------------------------------ Date: Fri, 12 Jun 1998 09:13:07 -0400 From: Connie Mack Rea Subject: [CANSLIM] Polotics 101 Phil-- Glad your family is a-polotic. I.e., you sleep in your own bed. A little boy goes to his dad and asks, "What is politics?" > > Dad says, "Well son, let me try to explain it this way: I'm the > breadwinner of the family, so let's call me Capitalism. Your Mom, > she's the administrator of the money, so we'll call her the > Government. We're here to take care of your needs, so we'll call you > the People. The nanny, we'll consider her the Working Class. And your > baby brother, we'll call him the Future. Now, think about that and > see if that makes sense." > > So the little boy goes off to bed thinking about what Dad has said. > > Later that night, he hears his baby brother crying, so he gets up to > check on him. He finds that the baby has severely soiled his diaper > so the little boy goes to his parents' room and finds his mother sound > asleep. Not wanting to wake her, he goes to the nanny's room. Finding > the door locked, he peeks in the keyhole and sees his father in bed > with the nanny. He gives up and goes back to bed. > > The next morning, the little boy says to his father, "Dad, I think I > understand the concept of politics now." > > The father says, "Good, son. Tell me in your own words what you > think politics is all about." > > The little boy replies, "Well, while Capitalism is screwing the > Working Class, the Government is sound asleep, the People are being > ignored and the Future is in deep doodoo." C - - ------------------------------ Date: Fri, 12 Jun 1998 06:56:04 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] AMZN - Nelson Nelson E. Timken, Esq. wrote: > > You mention a "bottoming" and I am wondering what your analysis forecasts as > the bottoming point for the market. I expect we will see another down day > tomorrow and continuing into triple witching. > > Nelson E. Timken > http://www.onelist.com/subscribe.cgi/investing-list > No forecasts here, Nelson. Just looking for a low to count from. Still working on the May 27 low, or the June 1 low, or the June 3 low and counting. My only observation was that the sentiment numbers are seemingly too bullish to support an intermediate term upturn. If we take out the recent lows in the indices tomorrow just after the open, reverse and close unchanged to higher on the day, with an increase in volume over today's action, that would be another nice low from which to count for follow through. But, as mentioned in IBD yesterday, we need to take the bulls down another notch or three, and the bears are far too groggy. I think Db's point was that he want to go ahead and get to the 200 day moving average in the indices quickly and get the "correction/consolidation" over with. Sounds like "hope" to me, Db!?!? Or was that a "wish"? ;) How do you plead? Good luck Nelson. - - ------------------------------ Date: Fri, 12 Jun 1998 08:16:08 -0400 From: "Nelson E. Timken, Esq." Subject: RE: [CANSLIM] AMZN - Johan "L" I guess this question was too stupid to be dignified with a response? Sorry for my stupidity. Nelson E. Timken http://www.onelist.com/subscribe.cgi/investing-list - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Nelson E. Timken, Esq. Sent: Thursday, June 11, 1998 7:17 PM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] AMZN - Johan "L" You mention a "bottoming" and I am wondering what your analysis forecasts as the bottoming point for the market. I expect we will see another down day tomorrow and continuing into triple witching. Nelson E. Timken http://www.onelist.com/subscribe.cgi/investing-list - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of dbphoenix Sent: Thursday, June 11, 1998 7:07 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] AMZN - Johan "L" <> Just like Christmas morning, eh Jeffry? ;) I, for one, would like to just get to 1700 and 8300 and get on with it. The water-torture type of correction is a real bummer. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - - - - - ------------------------------ Date: Fri, 12 Jun 1998 07:24:24 -0700 (PDT) From: Tim Fisher Subject: [CANSLIM] Tom W DO NOT READ Just to annoy everyone except for Tom, here's the "real-time" Yahoo market index quotes at 07:25 AM Pacific Time: ^DJI 9:47AM 8811.27 -0.50 ^IXIC Jun 11 1743.12 -6.63 ^NYA 9:47AM 565.54 +0.04 ^RUT 9:47AM 443.41 -0.94 ^SPX 9:47AM 1094.78 +0.20 Guess I DO live in a time warp after all, by golly! Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Fri, 12 Jun 1998 07:38:56 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Jeffry <> Let's classify it as a "want". Patience may be a virtue, but it's no easier to come by than any other virtue. Missed two great shorts this morning because I allowed myself to get faked out. Shouldn't have been so "patient". Virtue sucks :) - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 12 Jun 1998 07:44:18 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Tom W DO NOT READ <> Since the wire from NY to Oregon is longer than the wire from NY to Phoenix, it takes longer for you to get your quotes. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 12 Jun 1998 11:38:41 -0400 From: Connie Mack Rea Subject: [CANSLIM] Reading the market by charts and by the number of CS posts. [Connie] Members-- Unless my mail is not being delivered, members have made no posts in the last hour or so [It's now 9:30]. Do not lose your spirit just yet. Get our your chart pencils and let's see if all is lost. Originate a trendline at the 9211 top in May and extend it across the tops on out through Thursday. This is your upper resistance. For the correction short term, you must expect a close above this line with significant volume [check Volume+, Volume Accumulation, and OBV]. Originate a trendline at the low of 8444 in early March and run it up to 8898 low at the end of April and extend it. This trendline also touches nicely the 8976 low in the first of May. You can see that this is the first breach of a two and a half month trend. At this point you must redraw the line; make a new trendline through the 8803 at the first of June. You can see that yesterday's close was near enough to say that the Dow held on the trendline. What should you expect today? A momentary drop would be acceptable, but today's close must stay above the lower trendline. The triangle formed by the upper and lower trendlines is the "safety" zone; i.e., a fall below the trendline implies further weakness and a reordering of the previous trendline. If the lower line is broken, then you would have to search elsewhere for support. The first support would be 8702 in the middle of March; the next would be 8602, still in March; and finally 8444 at the first of March. At this point you would have a fairly uniform inverted saucer--if the saucer were to be completed in the last third of July; this would be a forward extraploation. A completion of the saucer at this distant point would imply that the correction was fairly uniform both in time and price. If you dropped a vertical trendline from the high in May of 9211 and then measured the time back to 8444 and forward the same time, the market would again be at 8444. This uniform correction would be ideal, and the base would be the long, angular, and slow correction to the point in late July. [You would, however, have suffered the loss of several hundred points. This kind of loss has to be suffered for investors who invest and sit. It is wildly unnverving if you've no intent to exit and later enter. And then you must recoup back to the point of correction just to get even. You can infer why a recovery is often so slow and drawn out: Those who have lost so much have different degrees of stickiness; as different recovery prices are reached a few more are shaken loose. And the greatest source of new buyers are those that got out at a higher price. Obvious lows--those mentioned above--are prime areas where the shaking-out and buying-in is most exaggerated and why there is often a flat period in which buyers and sellers is adjusted and re-adjusted.] All bases do not run parallel or near parallel to the bottom of the chart. In the above instance, the base is that long, slow two month period measured laterally from the vertical trendline at 9211 out to late July. When there is such an angular basing, you might expect that when the Dow returns to 8444, it may spend only a short time "flat" basing. A modified flat-bottom "V" might appear or a double bottom of between 5-10 days between the bottom points of the "W." I arbitrarily chose 8444 as my point to measure the where an equivalent uniform and angular measure would project into he future [late July]. If you wish, you may do this. Choose any of the lows that I mentioned above and use them as your reference point to extrapolate into the future. An easy way to make several measurements is to take a compass and draw arcs through any low to the left of the vertical trendline at 9211. Where the arc cuts through the same price to the right of the vertical trendline would be the point where a uniform correction in both time and price occurred. Remember that you are dealing only with macro estimates. If you are interested in Fibonacci charting, this would be a good time to work up a chart. What you may find is that frequently Fibonacci charting is reasonably similar to the arcs that are originated on lows rather than Fibonacci numbers. Connie Mack - - ------------------------------ Date: Fri, 12 Jun 98 12:05:18 PDT From: "Walter Stock" Subject: [CANSLIM] Intro: Walter Stock Hello from Canada, Canslim people. I would like to introduce myself to your group, and being at 100% cash right now, I no longer have an excuse to delay delurking. (Have been snooping since Oct 97.) Age: 42 Education: B.A. in "non-M noise" ;^) (a.k.a. Economics) Career: over a decade in banking (Systems division) at CIBC head office in Toronto. New Career: Mr Mom. I trade during the day while my little boy is in pre-school, and I look after him the rest of the time . Am an experienced trader and investor in Canadian markets, but am relatively new at investing in the US and overseas. I follow HTMMIS, which I keep re-reading, and also follow WON-related material such as Woodward (HGS), Ryan, and others. I complement this religiously with TA, especially MACD, SloSto, and MF, along with the usual suspects: trendlines and MA's. Huge thanks to Dbphoenix (esp. for sites and investment opinion) ...to Tom Worley (for info on how brokers work and for a big heart) ...to Connie Mack (for revealing so much about his system) ...to Jeffry (for XXX-rated hard-core "M" analysis) ...to Frank Wolynski, Tim, Peter, Johan, and many others, you have all helped. Intro is already too long, I will start inflicting my ursine opinions shortly. Walter Stock (yes... that really is my last name) Oakville, ONT - Canada E-mail me at wstock@globalserve.net - - ------------------------------ End of canslim-digest V2 #279 ***************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. 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