From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #312 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 Wednesday, July 1 1998 Volume 02 : Number 312 In this issue: [CANSLIM] NONCANSLIM - Market TA [CANSLIM] Re: canslim-digest [CANSLIM] Re: canslim-digest Re: [CANSLIM] NONCANSLIM - Market TA [CANSLIM] NON-CANSLIM - Market TA RE: [CANSLIM] NON-CANSLIM - Market TA RE: [CANSLIM] NON-CANSLIM - Market TA Re: [CANSLIM] HGS file (hgs0629.xls) [CANSLIM] Breakouts Re: [CANSLIM] HGS file (hgs0629.xls) [CANSLIM] Twice the 200d Re: [CANSLIM] Breakouts [CANSLIM] Ranking Idustries [CANSLIM] HGS reduced further [CANSLIM] "M" Re: [CANSLIM] Ranking Idustries Re: [CANSLIM] "M" Re: [CANSLIM] Breakouts [CANSLIM] "Building Watch List" article June 30, IBD Re: [CANSLIM] Breakouts [CANSLIM] "M" - Johan Re: [CANSLIM] ACC/DIST on LSN Re: [CANSLIM]SALT Re: [CANSLIM]SALT Re: [CANSLIM] HGS file (hgs0629.xls) ATLPA (was Re: [CANSLIM] HGS file (hgs0629.xls)) Re: [CANSLIM] EDAC - Falling Knifes Re: [CANSLIM] Top Investment gurus Re: [CANSLIM] ask price not listed. [CANSLIM] HCPF & NATI Re: [CANSLIM] Non Canslim (was ask price not listed.) [CANSLIM] Non - canslim question [CANSLIM] Re. IBD Article Re: [CANSLIM] HCPF & NATI [CANSLIM] ALGI Re: [CANSLIM] ALGI [CANSLIM] THRX ---------------------------------------------------------------------- Date: Tue, 30 Jun 1998 23:41:14 +1200 From: "Dean Edwards" Subject: [CANSLIM] NONCANSLIM - Market TA Anyone care to comment on this? 10-year graph of the NYSE Index, with the Overbought/Oversold Indicator plotted beneath http://www.tscn.com/wsc/Market_Snapshot.html?template=3Dhttp://www.wallstreetcity.com/market/research/investor_alert.asp - - ------------------------------ Date: Tue, 30 Jun 1998 12:07:16 -0500 From: Craig Cheatum Subject: [CANSLIM] Re: canslim-digest Did anyone note the names of three stocks highlighted by Steve Frankel on CNBC this morning? I think two were Cirrus Logic and Applied Magnetics. - - ------------------------------ Date: Tue, 30 Jun 1998 12:07:16 -0500 From: Craig Cheatum Subject: [CANSLIM] Re: canslim-digest Did anyone note the names of three stocks highlighted by Steve Frankel on CNBC this morning? I think two were Cirrus Logic and Applied Magnetics. - - ------------------------------ Date: Tue, 30 Jun 1998 13:10:36 -0400 From: Craig Griffin Subject: Re: [CANSLIM] NONCANSLIM - Market TA Dean, I could only get "function not available" from TSCN when I clicked on the link. Is this a members only thing or is there another link I can use? Thank you, Craig At 11:41 PM 6/30/98 +1200, you wrote: > >Anyone care to comment on this? > 10-year graph of the NYSE Index, with the Overbought/Oversold >Indicator plotted beneath > >http://www.tscn.com/wsc/Market_Snapshot.html?template=3Dhttp://www.wallstre etcity.com/market/research/investor_alert.asp > > > > >- > > - - ------------------------------ Date: Tue, 30 Jun 1998 13:37:00 -0400 From: Jeffry White Subject: [CANSLIM] NON-CANSLIM - Market TA > Anyone care to comment on this? > 10-year graph of the NYSE Index, with the Overbought/Oversold > Indicator plotted beneath > > http://www.tscn.com/wsc/Market_Snapshot.html?template=3Dhttp://www.wallstreetcity.com/market/research/investor_alert.asp > > For the CANSLIM perspective on this type of indicator, see page 66 of HTMMIS, 2d edition. Can't access the chart either, Dean. (Perhaps, forturnately, if you know what I mean?) JW - - ------------------------------ Date: Tue, 30 Jun 1998 12:49:49 -0500 From: "blake" Subject: RE: [CANSLIM] NON-CANSLIM - Market TA Manually type in the information after the letters "3d" Youll get the graph, Ahh hell here it is... http://www.wallstreetcity.com/market/research/investor_alert.asp - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeffry White Sent: Tuesday, June 30, 1998 12:37 PM To: canslim@mail.xmission.com Subject: [CANSLIM] NON-CANSLIM - Market TA > Anyone care to comment on this? > 10-year graph of the NYSE Index, with the Overbought/Oversold > Indicator plotted beneath > > http://www.tscn.com/wsc/Market_Snapshot.html?template=3Dhttp://www.wallstree tcity.com/market/research/investor_alert.asp > > For the CANSLIM perspective on this type of indicator, see page 66 of HTMMIS, 2d edition. Can't access the chart either, Dean. (Perhaps, forturnately, if you know what I mean?) JW - - - - ------------------------------ Date: Tue, 30 Jun 1998 11:24:09 -0700 (PDT) From: dbphoenix Subject: RE: [CANSLIM] NON-CANSLIM - Market TA <> Not sure what you're looking for. The indicator is fine as are others. O'N's guidelines gave us signals a week ago. These were confirmed by the W pattern in the OTC which I noted last week. Today we're holding above the right shoulder on the Nasdaq. The OB/OS will be yet another confirmation, as will a new high. It all depends on how many confirmations one wants to wait for. If one waits for all of them to be in, it's almost time to sell. This is hardly a criticism of conservatism. But one must know in advance what his risk tolerance is so that he knows when to re-enter. If he's constantly taking risks that his psyche can't handle, he'll be in a constant state of turmoil and less able to make rational, intelligent investment decisions. We all want low-risk, high-reward investments. Unfortunately, these are not common. Usually the less risk you're willing to take on, the less reward you'll get. Those who wait for multiple confirmations will have less upside to look forward to. Those who get in earlier will have potentially more upside, but higher risk as well. One of the most common errors novices make is to skip this step. They use short-term signals to enter and intermediate-term signals to exit. Thus they are virtually assured of losing money almost every time. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 30 Jun 1998 12:06:25 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] HGS file (hgs0629.xls) I reduced Dan's list further by running it through MA scans--50d SMA > 200d SMA and 17d EMA > 50d EMA. Also ADV > 40k. There are some nice-looking charts in here. Dan, hope this is OK with you. - --Db ABAG AEG AEOS AOC ARTS ATI ATLPA BKE BLS CCSC CHCS CHTT CMDL COMR DELL DHI DLTK ERICY EUSA FAF FIF FNF FOSL GPS HHS IMRS INSS INSUA ITWO JAKK MAIR MAXS MEDQ MISI MLT MTRS MVSN MWL MYL NRVH OCLI OROA PMRY RCGI RCII RCOT REL REXI ROMC RXSD SALT SANM SAPE SDII SHOO SWX THQI TMBS TNL TROW WSTF _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 1 Jul 1998 02:17:18 +0700 From: "Peter Christiansen" Subject: [CANSLIM] Breakouts The following stocks from my watchlist are breaking out today on good volume. GVA MISI NRVH STFF VRLN Peter Christiansen Chiang Mai - Thailand - - ------------------------------ Date: Tue, 30 Jun 1998 13:20:10 -0600 From: Dan Sutton Subject: Re: [CANSLIM] HGS file (hgs0629.xls) dbphoenix wrote: > > I reduced Dan's list further by running it through MA scans--50d SMA > > 200d SMA and 17d EMA > 50d EMA. Also ADV > 40k. There are some > nice-looking charts in here. > > Dan, hope this is OK with you. > > --Db Absolutely, positively not a problem. That's why I post the list Dan - - ------------------------------ Date: Tue, 30 Jun 1998 12:18:02 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Twice the 200d Made an error. During the discussion of this MA business, I commented that it would be interesting to see what happens when CSers buy SYNT at a new high, as that is twice the 200d. However, I was looking at the wrong template. 40 is twice the 200d EMA. Twice the 200d SMA is 35, which is where SYNT bumped its head and is now gathering strength. Just thought anybody considering SYNT would like to know. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 30 Jun 1998 12:30:57 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Breakouts <> If anyone needs extra courage, NRVH is part of the RV group, which Frank and I noted yesterday has such a nice-looking chart. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 30 Jun 1998 15:43:09 -0400 (EDT) From: Lehman Dennis Subject: [CANSLIM] Ranking Idustries Is anyone out there? That would like to screen industries by : Estimated EPS growth, Historical growth rate, Price to book, ROE, ROI, ROA and more. Then it list the stocks in each group and if you click on the stocks name, it brings up the fundamentals and the percentage of ownership by both funds and management. You can even scan for ownership by percentage. It also does stock comparisons. It is worth the time to look it over, here is the url http://www.stockselector.com Dennis p006601b@pbfreenet.seflin.lib.fl.us - - ------------------------------ Date: Tue, 30 Jun 1998 12:56:50 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] HGS reduced further Just for the he** of it, I scanned Dan's list for stocks whose 17d EMA had crossed their 50D EMA just yesterday and wound up with only four. More conservative investors would wait for such a crossover, whereas more aggressive types would scan for 4 and 9d EMAs crossing the 17d and either buy there or wait for penetration of nearby resistance, depending on the chart pattern (and there's always MACD and slosto to throw into the mix). Anyway, FWIW, these are the four: MLT PMRY SANM TROW These just happen to be cups, but the scan often turns up bases as well. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 30 Jun 1998 16:03:52 -0400 From: Jeffry White Subject: [CANSLIM] "M" I'll check further when I get home, but the Nasdaq Comp. looks like a good sized "distribution day," to me. Jeff - - ------------------------------ Date: Tue, 30 Jun 1998 13:20:50 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Ranking Idustries <> Nice site, Dennis. Remember, though, that "funds" and "institutions" are not the same thing. These sites will give you the institutional percentage, but they don't break it down and tell you how many of those institutions are funds. Just something to keep in mind. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 30 Jun 1998 22:34:40 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] "M" Jeffry wrote: >I'll check further when I get home, but the Nasdaq Comp. looks like a >good sized "distribution day," to me. > >Jeff Yep, the early signs of a bear market. Sold it all. At this point in time or should I say in the chart, I think a few of these days are normal and even beneficial. A little base-forming would be good in the long run. We tested NAZ:1878 and we held. Everything still looking hunky-dory to me. Saw lotsa break-outs yesterday and today. Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Tue, 30 Jun 1998 13:38:57 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Breakouts I've been in since the last breakout which occurred before the WON sell signal, it has held up nicely, notice the volume went dead during the base the last 6 weeks or so. Did not see the vol late last week when it did break out but this is a nice confirmation of that move. Too bad PAYX had to merely meet their quarter and year estimates, they are dead for the next couple months as of today. Or are they? Any comments? Didn't quite hit my stop which is a week old but technically I should have sold them this morning. At 12:30 PM 6/30/98 , you wrote: >If anyone needs extra courage, NRVH is part of the RV group, which >Frank and I noted yesterday has such a nice-looking chart. > >--Db > 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: Tue, 30 Jun 1998 17:22:49 -0400 From: "Deral Rackley" Subject: [CANSLIM] "Building Watch List" article June 30, IBD Don't miss the article in June 30 IBD on "Building a Watch List Before you Buy". Includes many of the Topics that we have been discussing on this List such as: buy a stock on a breakout from a base, good price performers, relationship to a 50 day ma, etc. Includes recommendations for a watch list: EMC Corp., Veterinary Centers of America Inc., Pfizer, and more. Deral - - ------------------------------ Date: Tue, 30 Jun 1998 14:37:18 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Breakouts <> If you mean me, I can't tell you what the next couple of months will bring. But today it held at its 17d MA. If it continues to hold there, that's a plus. Perhaps investors will look beyond the next quarter. Who knows? That's why I focus on the charts rather than the news. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 30 Jun 1998 18:10:29 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] "M" - Johan > At this point in time or should I say in the chart, I think a few of these > days are normal and even beneficial. A little base-forming would be good in > the long run. > > We tested NAZ:1878 and we held. Everything still looking hunky-dory to me. > > Saw lotsa break-outs yesterday and today. > > You are exactly right, Johan. "Distribution days" are quite normal in a newly begun up-leg. I should have qualified my comments. However, I will say that "distribution days" in this part of an index chart *usually* are "reversal" type days. What I mean is that the index will gap up open (or a strong open) and close unchanged to lower on the day with an increase in daily volume (reversing the strong open). Today was more of a "failed to make significant price progress" type of "distribution day." Volume was rather large, the range was tight (not a requirement, can be wider than usual) and we basically went nowhere. October 6, 1997 and April 22, 1998 were of this type and were the last indicators of an impending downturn in the market. Not the type of distribution day I would expect here, that's all. Still want to hedge a bit here on whether it was actually a distribution day. Need a chart before I'm sure. Jeffry - - ------------------------------ Date: Tue, 30 Jun 1998 19:11:21 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] ACC/DIST on LSN Done - sent privately Tom W - -----Original Message----- From: Peter Christiansen To: CANSLIM Date: Tuesday, June 30, 1998 8:32 AM Subject: [CANSLIM] ACC/DIST on LSN >Can someone with access to Daily Graphs Online give me the ACC/DIST ranking >for Leasing Solutions (LSN)? It is not listed in my printed copy of Daily >Graphs. Thanks in advance. > >Peter Christiansen >Chiang Mai - Thailand > > >- > - - ------------------------------ Date: Tue, 30 Jun 1998 19:24:34 -0400 From: "Tom Worley" Subject: Re: [CANSLIM]SALT DGO doesn't show an earnings estimate, which usually indicates that less than three reputable analysts (e.g. ones not bot and paid for by the corp) have not issued a forecast. Tom W - -----Original Message----- From: Thomas A. Moulton To: canslim@lists.xmission.com Date: Tuesday, June 30, 1998 9:47 AM Subject: Re: [CANSLIM]SALT >www.nasdaq.com >Hit InfoQuotes >and select Stock Reports (requires Acroreader for PDF) >also can get hardcopy via mail for free > >98 0.45 EPS >99 0.60 EPS > >95 0.11 >96 0.38 >97 0.34 (stockmaster.com and select Earnings History for neat chart) > >-- >Thomas A. Moulton, W2VY >Green Hills Software >email: tmoulton@ghs.com >pager: http://www.xanthus.net/w2vy > > > >- > - - ------------------------------ Date: Tue, 30 Jun 1998 19:22:55 -0400 From: "Tom Worley" Subject: Re: [CANSLIM]SALT Ari, I really hate to have to agree with db, but the price you previously paid is immaterial to where you add to the position on this one, the current short base is $12, buying more here is paying over 10% above this base. It has less to do with the likelihood of a pullback directly than it does with buying an extended stock (which in turn has to do with being shook out on an entry point sell stop, which apparently you weren't using on the original purchase, so presume you wouldn't use now). If you wanted to add to the position, the time to do that was about a week ago as it moved off the 12 line on renewed volume. IMHO, now is too late. Tom W - -----Original Message----- From: Ari Lawson To: canslim@lists.xmission.com Date: Tuesday, June 30, 1998 9:19 AM Subject: Re: [CANSLIM]SALT >db, > Don't you think Volume has dried up pretty well during it's base to not >have to worry about a pull back? > Thanks Ari > - - ------------------------------ Date: Tue, 30 Jun 1998 16:26:20 -0700 (PDT) From: Tannis Malone Subject: Re: [CANSLIM] HGS file (hgs0629.xls) I track The New American Companies. Two from Dan's list via Dp are listed. ATLPA (3/16)and EUSA (4/1). TM - ---dbphoenix wrote: > > > I reduced Dan's list further by running it through MA scans--50d SMA > > 200d SMA and 17d EMA > 50d EMA. Also ADV > 40k. There are some > nice-looking charts in here. > > Dan, hope this is OK with you. > > --Db > > ABAG > AEG > AEOS > AOC > ARTS > ATI > ATLPA > BKE > BLS > CCSC > CHCS > CHTT > CMDL > COMR > DELL > DHI > DLTK > ERICY > EUSA > FAF > FIF > FNF > FOSL > GPS > HHS > IMRS > INSS > INSUA > ITWO > JAKK > MAIR > MAXS > MEDQ > MISI > MLT > MTRS > MVSN > MWL > MYL > NRVH > OCLI > OROA > PMRY > RCGI > RCII > RCOT > REL > REXI > ROMC > RXSD > SALT > SANM > SAPE > SDII > SHOO > SWX > THQI > TMBS > TNL > TROW > WSTF > > > > > > > _________________________________________________________ > DO YOU YAHOO!? > Get your free @yahoo.com address at http://mail.yahoo.com > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 30 Jun 1998 19:52:22 -0500 From: "Ricardo Bekin" Subject: ATLPA (was Re: [CANSLIM] HGS file (hgs0629.xls)) I own ATLPA, it is being bought out by QNTM. The buyout price is basically 29 dollars' worth of QNTM stock, with the exact number of shares being determined by the average price in QNTM's shares over a 45 day period, which probably started around June 23. We won't know the exact dates until the shareholders' meeting. If QNTM moves up during the 45 day period, the deal could be worth more than the 29 dollars, and vice-versa. Clearly not a CANSLIM situation anymore. Ricardo Bekin - -----Original Message----- From: Tannis Malone To: canslim@lists.xmission.com Date: Tuesday, June 30, 1998 6:35 PM Subject: Re: [CANSLIM] HGS file (hgs0629.xls) >I track The New American Companies. Two from Dan's list via Dp are >listed. ATLPA (3/16)and EUSA (4/1). > >TM > > > > >---dbphoenix wrote: >> >> >> I reduced Dan's list further by running it through MA scans--50d SMA > >> 200d SMA and 17d EMA > 50d EMA. Also ADV > 40k. There are some >> nice-looking charts in here. >> >> Dan, hope this is OK with you. >> >> --Db >> >> ABAG >> AEG >> AEOS >> AOC >> ARTS >> ATI >> ATLPA >> BKE >> BLS >> CCSC >> CHCS >> CHTT >> CMDL >> COMR >> DELL >> DHI >> DLTK >> ERICY >> EUSA >> FAF >> FIF >> FNF >> FOSL >> GPS >> HHS >> IMRS >> INSS >> INSUA >> ITWO >> JAKK >> MAIR >> MAXS >> MEDQ >> MISI >> MLT >> MTRS >> MVSN >> MWL >> MYL >> NRVH >> OCLI >> OROA >> PMRY >> RCGI >> RCII >> RCOT >> REL >> REXI >> ROMC >> RXSD >> SALT >> SANM >> SAPE >> SDII >> SHOO >> SWX >> THQI >> TMBS >> TNL >> TROW >> WSTF >> >> >> >> >> >> >> _________________________________________________________ >> DO YOU YAHOO!? >> Get your free @yahoo.com address at http://mail.yahoo.com >> >> >> - >> >> > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > > - - ------------------------------ Date: Tue, 30 Jun 1998 21:44:35 -0400 From: Al French Subject: Re: [CANSLIM] EDAC - Falling Knifes Your scenario sounds quite reasonable to me. It is also confirmed by double top (or inverted W) theory which would also project the retracement to about $10.50. Al French Frank V. Wolynski wrote: > > EDAC obviously got ahead of itself. > ( More Monday morning quarterbacking... :-) ) > > Perfect example of sell when the price is 50% above the 50day MOV and 200% > above its 200day MOV. Actually did a bit better than that when it topped on > 5/26/98. > > It has fallen to the short 4 week base it put in in mid april to mid may, > 10.25 to 11.75. > However a trendline exists, three points touch on the August 97 low, again > in February and April of 98. I would gauge trendline support to be in the > 10.5 area. Since it has fallen 50% plus a bit, I would expect a further > fall to the 62% Fibonacci level. Again this is at the $10.25 level. I would > also expect the fear factor (Fridays gap down) to peak early Monday in a > selling climax and the turnaround to take place during the lunch hours. > > After that I would expect a bounce in an attempt to get back to the 50day > then followed by weak performance. > > Would this technical scenario seem reasonable? > Is there any news to account for the breakdown? > > Frank Wolynski > > - - - ------------------------------ Date: Tue, 30 Jun 1998 19:36:06 -0700 (PDT) From: Tim Fisher Subject: Re: [CANSLIM] Top Investment gurus These numbers are (mostly) a joke. There is no basis for comparison. About the only ones I "believe" are the S&P, DJIA, and maybe Berskshire-Hathaway. At 10:26 PM 6/30/98 +1200, you wrote: > >Has anyone beaten these guys? Excluding of course Victor Niederhoffer >who recently "self-destructed" and has declared himself bankrupt. Has an >interesting comparison between Return on Equity to Price to Sales >combined with high relative strength. > >http://www.w-link.net/~tadwolff/twpages/investmentgurus.htm > Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Tue, 30 Jun 1998 23:04:52 EDT From: Subject: Re: [CANSLIM] ask price not listed. Tom, Thanks for the advice. I have wondered how it is decided regarding asked prices being placed at the same price. For example if I placed an order to buy 100 shares and someone else places a buy order at the same price as mine how is it determined who's trade is placed first? Is the trade executed in order or randomly? I also would like to know how market orders are executed? Is it executed at the most favorable price to the person placing the order? Any suggestions would be helpful. Thanks Frank - - ------------------------------ Date: Tue, 30 Jun 1998 23:16:32 -0500 From: Dave Cameron Subject: [CANSLIM] HCPF & NATI Gee... no one mentioned a holding of mine (HCFP) which broke out on high volume today. Its a small stock, EPS/RS both over 95. Kind of a unique HealthCare/REIT niche. Also, a question, I'd like to solicit opinions on the chart of NATI - it was up 5 today on high volume to around 35. This retraces almost all of a recent dip. The stock is reasonably CANSLIM. Dave Cameron - - ------------------------------ Date: Wed, 1 Jul 1998 06:04:25 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Non Canslim (was ask price not listed.) Frank, The order of order execution depends on the system being used (e.g. NYSE/AMEX with floor specialists or NASDAQ thru various broker dealers/market makers). NYSE/AMEX - orders are placed into the "book" of the floor specialist in the order received, thus two "market" orders will be executed in the order received on the floor. If the first order moves the asking up (on a buy) or the bid down (on a sell) then the second order will get a less favorable price. When possible, the floor specialist will match limit orders, but if not he executes orders out of his book/inventory. NASDAQ - keep in mind that there is no "central clearing house" for these orders like the NYSE/AMEX. Thus your order may be held by the firm with your account, or it may be passed to another broker dealer who is a market maker. Even if your firm is not a market maker, they can still execute your market order, then go to another firm to cover their short/sell their long position. Thus two different orders being received at two different firms may be executed differently. Assuming both are market, one might be executed immediately in house, while the other might be given to another firm to execute, adding to the time needed. Another example would be if you are bidding for stock, say at 25.625. Just because you see trades being done at this price does not guarantee your execution, since those trades can be done at many other firms. Tho I must admit it's neat to enter a limit order and then watch the stock with live quotes and see your order change the bid/ask, then actually see your order executed, and the bid/ask change again (or see others line up behind you if you're not yet executed). As to "execution at the best price" issue, all firms should, but usually don't, give price improvement when possible on market orders. The "order display" rules have gone a long way towards tightening spreads, which is where most firms made a lot of money, but still those firms want whatever they can make. Thus two orders entered simultaneously, regardless of the exchange, with one a mkt sell and one a mkt buy, would likely be executed at the bid and ask respectively, not somewhere in between. I have dealt with a few firms that gave true price improvement on market orders, Knight Securities being one. Aside from them, my only personal experience at getting price improvement is by using limit orders. In several cases where they gave me instant execution on up to 2000 shares, but actually had to go to another dealer for stock, they called me back with a better price if they in turn got a better price from the other dealer. Thus they took mkt risk, yet still shared in the gains if the mkt moved favorably. I was pretty impressed with them. Interestingly, at Schwab, when you use a limit to buy below the bid, they still claim it as price improvement. Needless to say, I cried foul, their response was pretty wimpy but tried to defend their claim. However, they have not made the claim since on any of my limit orders that were executed. Speed of execution can also vary considerably depending on the systems being used. At my last job, where I entered the order on a computer linking me directly to the NYSE/AMEX/various options exchanges, I could see order execution in less than 20 seconds from the time I hit the final enter key. Only took me about 10-15 seconds to enter the order, so often I was calling the broker with a report before he even got back to his desk. Tom W - -----Original Message----- From: Mulack@aol.com To: canslim@lists.xmission.com Date: Tuesday, June 30, 1998 11:02 PM Subject: Re: [CANSLIM] ask price not listed. >Tom, > >Thanks for the advice. I have wondered how it is decided regarding asked >prices being placed at the same price. For example if I placed an order to >buy 100 shares and someone else places a buy order at the same price as mine >how is it determined who's trade is placed first? Is the trade executed in >order or randomly? > >I also would like to know how market orders are executed? Is it executed at >the most favorable price to the person placing the order? Any suggestions >would be helpful. > >Thanks > >Frank > >- > - - ------------------------------ Date: Wed, 1 Jul 1998 07:09:50 -0400 From: "Tom Worley" Subject: [CANSLIM] Non - canslim question Any suggestions on where on the net I can get a daily after mkt list of stocks hitting new highs that day, preferably by exchange, that does not limit the price (remember I like all those non canslim stocks that are 99/99/A/A with a price under $12). I was getting this from dbc.com but apparently they have now restricted it to paying subscribers only. If need be, guess I'll have to use IBD, but it's neither timely nor as easy to use. Tom W - - ------------------------------ Date: Wed, 1 Jul 1998 08:47:31 EDT From: Subject: [CANSLIM] Re. IBD Article Group: Yesterday there was an article in Investor's Corner of IBD I thought might be of some use. jans (Here it is): After nearly three months of going nowhere, the stock market has resumed its long advance. The Nasdaq, dominated by large techs, has been leading the way. The big-cap S&P 500 even hit a new high last week. I N V E S T O R ' S C O R N E R But look before you leap back into the market. Assemble a list of leading stocks and keep a close eye on it. When a stock breaks out, you've already done your homework and can buy it with confidence. There are various approaches to building a watch list, but the best is to zero in on stocks that are: Good price performers. Showing strong earnings. Poised to break out of a base. The idea is to be ready to buy a stock with high Relative Strength and Earnings Per Share ranks as measured by IBD . The time to buy the stock is when it is emerging from a basing formation of at least seven weeks and close to making a 52-week high. The move on the day of the breakout should come with a significant expansion in volume. The first step is to find high-performance stocks. For this story, IBD did a special screen of all stocks with both an 80 RS and 80 EPS rank. A total of 492 issues made the list. The next step was to trim the list to those stocks that were in basing formations and near their high. That required the visual study of each stock's chart. We found 22 high- performance stocks still in proper bases. They're ready to break out at any time. Investors can develop their own personal list of high- performance stocks. One approach might be combing through IBD'S tables and listing stocks with a 90 RS and 90 EPS rank. Another way is to follow the ''Industry Group Focus'' on the Companies In The News feature. IBD compiles the leading stocks of one industry each day. After several weeks, you'll have a list of leading stocks. Also check out the New York and Nasdaq ''Stocks In The News'' as well as the ''Weekend Graphic Review,'' which is published in Friday's Funds & Personal Finance section. The time to buy is on the day of the breakout from the base. Thus, investors need to monitor the list every day to see if a high-performance stock is starting a new leg up. There are other considerations. Stocks on a watch list should be owned by a few top mutual funds and have good earnings prospects. It's also wise to go with stocks over $25. That usually indicates a higher degree of quality. Low- priced issues are more speculative. Sitting at the top of IBD'S list in terms of price is Pfizer Inc., which is selling near 109. The stock has an 80 EPS rank and 93 RS. It ran up from 61 a year ago. So it has excellent upside momentum. Earnings this year should rise 23%, surpassing the 17% rate of growth the past five years. Pfizer is benefiting from strong sales of a hot new drug called Viagra, which is used to treat impotence. The stock has a good institutional following and is part of a strong industry group: drug makers. The breakout price is found by looking at the most recent areas of price resistance. In Pfizer's case, it's 115. The stock peaked at 121 3/4 on April 21. When it slipped back, it formed a basing pattern that showed resistance at 115 on May 1, May 20, June 18 and June 19. If a stock breaks out, it's probably resuming its uptrend. But watch out. Not all breakouts work. In some cases, the stock will slip back into the base. There are a few stocks on the watch list that are forming favorable bases. EMC Corp., a maker of computer storage products, has a 95 Relative Strength and a 92 EPS. Analysts forecast a 35% jump in EMC's earnings this year. It's been trading sideways for eight weeks above its rising 50-day moving average. Stocks will often break out after their 50-day catches up to the current price. Veterinary Centers of America Inc. has an 89 RS and 97 EPS rank. This year the Street sees earnings for the operator of veterinary hospitals climbing 34%. It's in an eight-week base with a breakpoint at 19 1/4. The stock has been trading in a tight range near the top of its base for the past six weeks. There are times during the market's cycles that the number of stocks on a particular watch list will be high or low. When the market is advancing strongly like it did earlier this year, the number will be low. That's because many high-quality stocks broke out. The number on the list will rise when the market is basing. That's when many high- quality stocks are still forming bases. So, it is during the ''dull times'' in the market that investors need to make their preparations to buy leading stocks. //////////////////////////////////////////////////////////// Copyright (c) 1998 Investors Business Daily, All rights reserved. Investor's Business Daily - Investor's Corner (06/30/98) Build A Watch List Before You Buy By Leo Fasciocco Transmitted: 07/01/98 07:13 (p0acem57) - - ------------------------------ Date: Wed, 1 Jul 1998 06:10:25 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] HCPF & NATI <> There does seem to be a slight disagreement amongst bulls and bears over what this stock is worth, and there was no base-building to speak of before this spike up. It's not one I'd jump on. A lot of people were very eager to get rid of this thing a month ago. What's changed? - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 1 Jul 1998 07:12:07 -0700 (PDT) From: Tim Fisher Subject: [CANSLIM] ALGI I noticed this one on the tag-and-bag section of Clearstation when it popped up 7 points and added it to my "recommended" list there a few months ago cause it looked like an LLUR. Subsequently some of you have posted about it. No data on Zacks, too small for that. Anyway it's popping the cork and they don't know why. Thought I'd post this for grins. Anyone have any good data on it? Tuesday June 30, 10:26 am Eastern Time American Locker CEO doesn't know why stock up NEW YORK, June 30 (Reuters) - American Locker Group Inc.'s (ALGI - news) chairman and chief executive Harold Ruttenburg said he knows of no reason why his company's stock jumped 11 points early Tuesday to hit a new high of 39. ``I'm as bewildered as anyone,'' he told Reuters. ``Nobody has approached us (about an acquisition), nobody has written a report, our earnings won't be until the end of July.'' Trading volume of 38,600 shares was light. On Monday, the company closed at a new high of 28. The company makes and sells coin and key controlled checking lockers and locks. Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Wed, 1 Jul 1998 07:37:10 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] ALGI <> Could be the same phenomenon as with Muriel Siebert. Fund managers are looking for places to put all this money, so they often jump on splits, and this stock had recently split 4:1, same as Siebert. Typically of the media, though, what the article fails to mention is that the stock closed pretty much where it opened for a net gain of an eighth of a point. Could also be symbol confusion. I remember a similar case involving TCOMA. There was some good news or other and everybody leapt on TCI, which happens to be a real estate company having nothing to do with cable (TCI is the name of the company that uses the symbol TCOMA; the symbol TCI is for Transcontinental Realty). - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Wed, 01 Jul 1998 09:39:25 -0700 From: Tim Fisher Subject: [CANSLIM] THRX Apparently the Cabot Newsletter dropped THRX from their recommended list= today - - off 10% as of 12:30 NYT. Can you say "Double Bottom"? Can you say "Buying Opportunity"? I'm all in or I'd be tempted to watch for the bottom after the herd all falls off the cliff and grab some shares. Looks like it has hit bottom at 23- an hour ago.=20 P.S. It's #1 in my CASLI Killer Scan.=20 This is from yahoo's message board yesterday (take it for what it's worth!): Folks: =A0 Brace yourself for some nasty weather. The exodus you saw today around= 3:30 wasn't the usual daytraders. =A0 The word went out late this afternoon from Cabot to sell THRX! Guess= what? They see that the momentum has =A0 gone out of the stock. In the words of the great Paul WhateverHisNameIs,= "no duh." =A0 This should be exciting. Got another line ready to pick up more. The= last time Cabot said sell THRX, Ms. =A0 Jacobs let em have it and the stock rallied within a month. Cabot came= back in with a buy recommendation at =A0 the end of the rally so their subscribers could pick the lose change up= off the floor. Folks who pay good money =A0 for Cabot advice got left with just table scraps. Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites mailto:Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ End of canslim-digest V2 #312 ***************************** 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.