From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #325 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk X-No-Archive: yes canslim-digest Tuesday, July 14 1998 Volume 02 : Number 325 In this issue: Re: [CANSLIM] How do I determine pivot price? [CANSLIM] B.O. BOSA & WFMI Re: [CANSLIM] How do I determine pivot price? TIM Re: [CANSLIM] How do I determine pivot price? Re: [CANSLIM] B.O. BOSA - Pivot Point? Re: [CANSLIM] B.O. BOSA - Pivot Point? [CANSLIM] Thanks for answers Re: [CANSLIM] Thanks for answers Re: [CANSLIM] How do I determine pivot price? Re: [CANSLIM] B.O. BOSA - Pivot Point? Re: [CANSLIM] B.O. BOSA - Pivot Point? Re: [CANSLIM] Investment Glossary ?? Re: [CANSLIM] Investment Glossary ?? Re: [CANSLIM] Investment Glossary ?? Re: [CANSLIM] Investment Glossary ?? [CANSLIM] Possible b/o HELE [CANSLIM] STRL b/o? [CANSLIM] Screening result. Re: [CANSLIM] B.O. BOSA - Pivot Point? Re: [CANSLIM] Possible b/o HELE Re: [CANSLIM] STRL b/o? [CANSLIM] "M" Re: [CANSLIM] "M" Re: [CANSLIM] "M" Re: [CANSLIM] "M" ---------------------------------------------------------------------- Date: Tue, 14 Jul 1998 08:14:17 +0700 From: "Peter Christiansen" Subject: Re: [CANSLIM] How do I determine pivot price? Huh? +5% where did you get that. Sounds like you might want to do a quick reread of HTMMIS. You should be buying the moment the pivot point is penetrated, assuming volume looks adequate. Peter Christiansen Chiang Mai - Thailand - -----Original Message----- From: Tim Fisher To: canslim@lists.xmission.com Date: Tuesday, July 14, 1998 3:39 AM Subject: Re: [CANSLIM] How do I determine pivot price? >Huh? So a 1/16th point change to the upside of some magic number and I should >be buying in? I don't remember reading _that_ in HTMMIS. Whatever happened to >breakouts of +5% on 1.5x ADV? > >At 03:27 PM 7/13/98 , you wrote: >>The pivot point on a cup and handle is the highest price along the >>handle...once that is broken by 1/16th-and the volume seems above >>average-you can buy... >> >>On a flat base, the highest price of the base should be taken out. >>Again, use judgment as to volume. >> >>The WOLF >>http://www.netword2000.com/wolf/ >wolf.htm >> > >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, 14 Jul 1998 09:01:09 +0700 From: "Peter Christiansen" Subject: [CANSLIM] B.O. BOSA & WFMI From my watchlist, BOSA broke out today on good volume. From my daily scan, WFMI looks interesting. I have only glanced at WFMI's numbers, but they don't look bad. Peter Christiansen Chiang Mai - Thailand - - ------------------------------ Date: Mon, 13 Jul 1998 19:36:07 -0700 (PDT) From: Tim Fisher Subject: Re: [CANSLIM] How do I determine pivot price? TIM At 06:53 PM 7/13/98 -0400, you wrote: > >Recent examples of pivot point buys on stocks I've notice include LHSPF >and DELL. Both occurred on the same day last week, I think. > >Can anyone spot the day and price at which an intraday buy would have >been appropriate for DELL and LHSPF under this passage of HTTMIS? > >What if you were to add a pinch of volume-dry-up-in-the-handle analysis, >and then add in a little touch of slow-stochastic/oversold action? Ooo, >la-la!! Where would you enter then? > >Jeffry > DELL definitely had the handle-volume dry-up from 6/23-7/7 with a nice pop last Wednesday 7/8. Which, being a move from 91 to 96-3/8 on 15 million shares, was probably just barely 1.5 ADV but nonetheless is the kind of price change in a "pivot" that I look for. I find these "pivots" that break some imaginary resistance, trendline, EMA, SMA, whatever, to be rationalizations, usually hindcast and impossible (for me) to predict. Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Mon, 13 Jul 1998 19:36:11 -0700 (PDT) From: Tim Fisher Subject: Re: [CANSLIM] How do I determine pivot price? Ohhh, sounds so sexy! Just kidding. Actually the 5% is probably your "overextended" point and just above my "buy point". To each his own. As Jeffrey so adequately pointed out, HTMMIS gives "examples" that as I recall from reading that chapter, make the average reader scratch his/her head and say "How did he pick _that_ point?" It's much easier to spot a "breakout" (which he does have examples of) which I define as a significant price move (OK say 3-5%) on >1.5 ADV. At 08:14 AM 7/14/98 +0700, you wrote: >Huh? +5% where did you get that. Sounds like you might want to do a quick >reread of HTMMIS. You should be buying the moment the pivot point is >penetrated, assuming volume looks adequate. > >Peter Christiansen >Chiang Mai - Thailand > >-----Original Message----- >From: Tim Fisher >To: canslim@lists.xmission.com >Date: Tuesday, July 14, 1998 3:39 AM >Subject: Re: [CANSLIM] How do I determine pivot price? > > >>Huh? So a 1/16th point change to the upside of some magic number and I >should >>be buying in? I don't remember reading _that_ in HTMMIS. Whatever happened >to >>breakouts of +5% on 1.5x ADV? >> >>At 03:27 PM 7/13/98 , you wrote: >>>The pivot point on a cup and handle is the highest price along the >>>handle...once that is broken by 1/16th-and the volume seems above >>>average-you can buy... >>> >>>On a flat base, the highest price of the base should be taken out. >>>Again, use judgment as to volume. >>> >>>The WOLF >>>http://www.netword2000.com/wolf/ >>wolf.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: Mon, 13 Jul 1998 19:44:37 -0700 (PDT) From: Tim Fisher Subject: Re: [CANSLIM] B.O. BOSA - Pivot Point? Let's use BOSA as an example. Moved from 37-1/8 to 38-3/8 (+ 3.3%) on roughly 2X ADV. Made it to 39 intra-day. Now it had been as high as 40-3/4 intraday (annoying how the 52-week high is almost always intra-day, isn't it?) but never closed above 38. Is the pivot point 38? If so why? Why not 39? 40? 40-3/4? I'd classify this as a breakout anyway since the move was a significant one on adequate volume. At 09:01 AM 7/14/98 +0700, you wrote: >>From my watchlist, BOSA broke out today on good volume. From my daily scan, >WFMI looks interesting. I have only glanced at WFMI's numbers, but they >don't look bad. > >Peter Christiansen >Chiang Mai - Thailand > 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, 14 Jul 1998 09:59:14 +0700 From: "Peter Christiansen" Subject: Re: [CANSLIM] B.O. BOSA - Pivot Point? I regard the action from 6/30 to 7/10 to be a handle of sorts. Nice volume dry up along the lows. The way I learned it, new highs off the handle (assuming we are looking at a cup & handle) are the pivot point. In this case the new highs are at 38 1/8. I consider this to be more of an art than a science. I think experience plays a large part in correctly picking the pivot point. Especially when you are working with a less than picture perfect chart formation. Peter Christiansen Chiang Mai - Thailand - -----Original Message----- From: Tim Fisher To: canslim@lists.xmission.com Date: Tuesday, July 14, 1998 9:45 AM Subject: Re: [CANSLIM] B.O. BOSA - Pivot Point? >Let's use BOSA as an example. Moved from 37-1/8 to 38-3/8 (+ 3.3%) on >roughly 2X ADV. Made it to 39 intra-day. Now it had been as high as 40-3/4 >intraday (annoying how the 52-week high is almost always intra-day, isn't >it?) but never closed above 38. Is the pivot point 38? If so why? Why not >39? 40? 40-3/4? I'd classify this as a breakout anyway since the move was a >significant one on adequate volume. > >At 09:01 AM 7/14/98 +0700, you wrote: >>>From my watchlist, BOSA broke out today on good volume. From my daily scan, >>WFMI looks interesting. I have only glanced at WFMI's numbers, but they >>don't look bad. >> >>Peter Christiansen >>Chiang Mai - Thailand >> >Tim Fisher, 1995 President, Pacific Fishery Biologists >Ore-ROCK-On Rockhounding Web Site >PFB Information >mailto:tim@OreRockOn.com >WWW http://OreRockOn.com > > >- > > - - ------------------------------ Date: Mon, 13 Jul 1998 22:13:59 -0500 From: "Amy Porter and Rich Bejtlich" Subject: [CANSLIM] Thanks for answers Craig, Tom, and DB, thanks for the answers! Anyone use www.morningstar.net? I just signed up for a free two week trial to get to their advanced screening options. They are the best I have seen online thus far. They are the only ones to offer EPS and sales growth/per quarter Vs prior year stats. Screening on strict CS criteria produces very little, which may only reflect the depth of their database. As I work my way deeper into this product I'll let you all know if I find anything useful. Richard - - ------------------------------ Date: Mon, 13 Jul 1998 20:25:10 -0700 (PDT) From: Tim Fisher Subject: Re: [CANSLIM] Thanks for answers Screening on strict CANSLIM criteria yields 10-20 stocks from the Zacks database, which I consider to be enough to keep an eye on. If you're getting less than that, I'd suspect the data or the criteria you are using. I would expect more if Zacks data was worth paying for (then again 'm not paying for it!) - there are N/A's all over it which are tossed out by scans. At 10:13 PM 7/13/98 -0500, you wrote: >Craig, Tom, and DB, thanks for the answers! > >Anyone use www.morningstar.net? I just signed up for a free two week trial >to get to their advanced screening options. They are the best I have seen >online thus far. They are the only ones to offer EPS and sales growth/per >quarter Vs prior year stats. Screening on strict CS criteria produces very >little, which may only reflect the depth of their database. As I work my >way deeper into this product I'll let you all know if I find anything >useful. > >Richard > Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Mon, 13 Jul 1998 22:16:14 -0700 From: Alan Friedman Subject: Re: [CANSLIM] How do I determine pivot price? Yes, DELL does not have "S", too much "I", and volume was not outstanding. Still, when a leader like DELL breaks out, you have to buy it...I've been to the advanced workshop and I can tell you that many of the examples they give you do not meet CANSLIM 100% as to S, I, or even A. The WOLF http://www.netword2000.com/wolf/wolf.htm - - ------------------------------ Date: Mon, 13 Jul 1998 23:03:20 -0700 From: Alan Friedman Subject: Re: [CANSLIM] B.O. BOSA - Pivot Point? Problem with BOSA is that the cup and handle is not a very good one. What you see as a breakout from a handle might in fact be the right side of the cup being formed... The WOLF http://www.netword2000.com/wolf/wolf.htm - - ------------------------------ Date: Tue, 14 Jul 1998 12:23:33 +0700 From: "Peter Christiansen" Subject: Re: [CANSLIM] B.O. BOSA - Pivot Point? You may be right... What specifically don't you like about the pattern? Personally I think it looks pretty good. I like the action on days 7/8,9&10. Very tight with no volume - something David Ryan mentions at the Advanced Workshop. Also, what I consider to be the handle is trending down. I also like the gap up today (a sign of strength). The reversal days (5/27, 6/15 & 6/29) on big volume are positive clues as well. Peter Christiansen Chiang Mai - Thailand - -----Original Message----- From: Alan Friedman To: canslim@lists.xmission.com Date: Tuesday, July 14, 1998 11:45 AM Subject: Re: [CANSLIM] B.O. BOSA - Pivot Point? >Problem with BOSA is that the cup and handle is not a very good one. >What you see as a breakout from a handle might in fact be the right side >of the cup being formed... > > >The WOLF >http://www.netword2000.com/wolf/wolf.htm > > > >- > > - - ------------------------------ Date: Tue, 14 Jul 1998 14:03:50 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Investment Glossary ?? My favorite on-line investment glossary seems to have gone belly-up. Can I (we?) please get some (a?) recommendation(s). Thanks! Dan musicant@autobahn.org - - ------------------------------ Date: Tue, 14 Jul 1998 10:19:55 -0400 From: Connie Mack Rea Subject: Re: [CANSLIM] Investment Glossary ?? Dan-- What kind of glossary did you lose? Connie Dan Musicant wrote: > My favorite on-line investment glossary seems to have gone belly-up. > Can I (we?) please get some (a?) recommendation(s). Thanks! > > Dan > > musicant@autobahn.org > > - - - ------------------------------ Date: Tue, 14 Jul 1998 07:23:16 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Investment Glossary ?? There are about a dozen glossaries here. You should be able to find what you need. http://www.yahoo.com/Business_and_Economy/Finance_and_Investment/Reference_and_Guides/Glossaries/ - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 14 Jul 1998 15:23:15 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Investment Glossary ?? On Tue, 14 Jul 1998 10:19:55 -0400, you wrote: :Dan-- : :What kind of glossary did you lose? : :Connie : Connie, It was: http://www.mtr-inc.com/srchgate/ It doesn't get a hit anymore in my browser. :( Dan : :Dan Musicant wrote: : :> My favorite on-line investment glossary seems to have gone belly-up. :> Can I (we?) please get some (a?) recommendation(s). Thanks! :> :> Dan :> :> musicant@autobahn.org :> :> - : : : : :- musicant@autobahn.org - - ------------------------------ Date: Tue, 14 Jul 1998 12:12:07 -0400 From: "Antista, Anthony" Subject: [CANSLIM] Possible b/o HELE Has this one appeared on anyone's list? can anyone update the numbers for me? last I have is: EPS 87/RS 83 from 5/29/98. ADV 166k, already 166k at noon. Looks like will go over 150% of volume. Looks like coming out of cup which formed early May. New high today at 24 3/8. thanks in advance, Tony - - ------------------------------ Date: Tue, 14 Jul 1998 09:22:24 -0700 From: Tim Fisher Subject: [CANSLIM] STRL b/o? STRL is on the move at 68-1/16 +3-5/16 (5%) on 2/3 ADV at 12:20 NY time. 5 week base started June 6 at 65. Tried to b/o last Thursday and failed. Is this the real thing? I dunno! Needs more volume. Disclaimer: I'm in since April. 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, 14 Jul 1998 10:31:39 -0700 From: "Chao, Chih Yu" Subject: [CANSLIM] Screening result. Good day, guys, The followings are my monthly screening result: DELL, RXSD Some interesting stocks: TIER, TMBS, PXXI, NTAP Happy investing/trading, ChihYu - - ------------------------------ Date: Tue, 14 Jul 1998 12:08:37 -0700 From: Alan Friedman Subject: Re: [CANSLIM] B.O. BOSA - Pivot Point? The cup and handle that BOSA formed in June-July is too small, too irregular in shape...the spike up to the 40 area back a few months ago should be considered the left side of a potential cup... The WOLF http://www.netword2000.com/wolf/wolf.htm - - ------------------------------ Date: Tue, 14 Jul 1998 13:00:32 -0700 From: Alan Friedman Subject: Re: [CANSLIM] Possible b/o HELE Not sure I like the handle on HELE...nor are the RS/EPS compelling. A case can be made that it already brokeout of a handle at 22. The WOLF http://www.netword2000.com/wolf/wolf.htm - - ------------------------------ Date: Tue, 14 Jul 1998 13:01:56 -0700 From: Alan Friedman Subject: Re: [CANSLIM] STRL b/o? Last b/o was a fakeout....I'd move on to another trade. The WOLF http://www.netword2000.com/wolf/wolf.htm - - ------------------------------ Date: Tue, 14 Jul 1998 18:25:44 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] "M" I'd call that a "distribution day" in the Nasdaq Composite. JW - - ------------------------------ Date: Tue, 14 Jul 1998 16:44:56 -0700 (PDT) From: Tannis Malone Subject: Re: [CANSLIM] "M" Jeffry What are the clues we should look for? TM - ---Jeffry White <"postwhit@sover.net"@sover.net> wrote: > > I'd call that a "distribution day" in the Nasdaq Composite. > > JW > > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Tue, 14 Jul 1998 20:17:15 -0400 From: Ari Lawson Subject: Re: [CANSLIM] "M" Jeffry, Don't we have to have distribution days on the way up? Or do we just go straight up? Ari - - ------------------------------ Date: Tue, 14 Jul 1998 22:13:31 -0400 From: "Frank V. Wolynski" Subject: Re: [CANSLIM] "M" At 18:25 7/14/98 -0400, Jeffry White wrote: >I'd call that a "distribution day" in the Nasdaq Composite. > >JW > But on the other hand.... For the first day since 5/4/98, over two months ago, the RUT spent the entire day leisurely soaking up some 'above the 50day MOV'. (Opened above, traded above and closed above.) Not an entirely bad sign, or is that wishfull thinking I fear is griping me? Transports just a breath away from giving a 'Dow Theory' confirmation of the trend, perhaps when that happens, kaboom 'To the Moon, Alice'! Seriously though, a good shot with a difibulator and the RUT is off to join the DOW, S&P, NASDAQ in the new high party! This may yet improve the new Hi/Low numbers and broaden this thing out a bit more! I suspect it will, and I fear it won't! Frank Wolynski ( My best up group tonight was, 'Metal Ores-Miscellaneous'). Although it is a bounce from oversold, it nonetheless took top honors with a +6% move. Yuck.... - - ------------------------------ End of canslim-digest V2 #325 ***************************** 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.