From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #338 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, July 24 1998 Volume 02 : Number 338 In this issue: RE: [CANSLIM] Not CANSLIM - Today's Market Downturn Re: [CANSLIM] Gapping, Elder, Walter, Jeffry RE: [CANSLIM] Not CANSLIM - Today's Market Downturn Re: [CANSLIM] Gapping, Elder, Walter, Jeffry RE: [CANSLIM] Not CANSLIM - Today's Market Downturn RE: [CANSLIM] Not CANSLIM - Today's Market Downturn [CANSLIM] Conflicting Signals Re: [CANSLIM] Gapping, Elder, Walter, Jeffry [CANSLIM] Shorts Re: [CANSLIM] Gapping, Elder, Walter, Jeffry [CANSLIM] To All "New America" Readers Re: [CANSLIM] Shorts Re: [CANSLIM] Shorts Re: [CANSLIM] Shorts or Un-CANSLIM Re: [CANSLIM] Shorts or Un-CANSLIM Re: [CANSLIM] Gapping, Elder, Walter, Jeffry [CANSLIM] Capitol Hill Shooting! [CANSLIM] "M" [CANSLIM] Caught! Re: [CANSLIM] Capitol Hill Shooting! Re: [CANSLIM] Not CANSLIM - Today's Market Downturn RE: [CANSLIM] Not CANSLIM - Today's Market Downturn Re: [CANSLIM] Gapping, Elder, Walter, Jeffry Re: [CANSLIM] Not CANSLIM - Today's Market Downturn Re: [CANSLIM] Shorts Re: [CANSLIM] Caught! RE: [CANSLIM] Not CANSLIM - Today's Market Downturn ---------------------------------------------------------------------- Date: Fri, 24 Jul 1998 06:11:06 -0700 (PDT) From: dbphoenix Subject: RE: [CANSLIM] Not CANSLIM - Today's Market Downturn <> Writing scenarios is a popular pasttime at times like these. The only problem is that few people get any benefit from it beyond entertainment value. What would be of far more value, particularly to the newbie, would be the development of several scenarios covering the most likely eventualities, ACCOMPANIED BY a set of strategies that one would put in place in case any of the scenarios were to occur. Johan states that he's going to take it one day at a time, but I'm sure he has a repertoire of strategies in his head that he can select from depending on what happens each day. Anyone who enjoys writing scenarios would probably get more out of it if he were to go beyond that to strategy as well. If nothing else, it would help him to avoid indulging in hope or succumbing to fear. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 98 01:31:48 PDT From: "Walter Stock" Subject: Re: [CANSLIM] Gapping, Elder, Walter, Jeffry > Thanks to the discussion about distribution while prices are rising > and the triple screen, I closed out at near highs on my spiders and > diamonds on the 17th. It is so nice to have a method. > > Also, I am afraid I am turning into a bit of a Walter (not a bad thing > :)), reading Elder and WON at night. Since you are the resident expert > on Elder, Walter would you mind explaining what we should be looking > for in the way of watching the gapping that has happened in some of > the stocks these last few days? The way it is played out seems to be > another confirmation of market health etc. Thanks for the kind words, Tannis. Am very happy that our group's discussions were constructive, but the credit goes to you for studying and applying the principles so well. Having said that, please realize that right now is the most dangerous time you will face in the stock market... just after a big success early in your investment career. When I was in the same situation that you are in now, it went to my head, and I started thinking that investing is easy, and that I was going to = just clobber the market. I lost 20% of my trading dollars over the next 9 day= s. This is not to suggest that you would be as foolish as I was, it is just = a cautionary (and true) tale. As for being the resident-Elder-expert, well I'm no expert, but he has certainly helped make me money. I was back to 100% cash in my trading account last Friday. Had even weeded my retirement account and sold off some erstwhile perma-holdings. Wasn't just the many bad MACD's in the Elder Triple Screens though... I think Jeffry did us all a favour when he sounded the alarm about the investor sentiment percentages in IBD. Now that I'm on a trial subscription to DG, I've been neglecting IBD. Bought a paper, checked for myself, couldn't believe it !! The bull numbers were way too high for my taste last week (let alone the drunken levels seen this week). Thanks Jeffry ! With regard to your question on what to watch for in gap action of stocks these past few days, I have noticed too many exhaustion gaps for this market to be considered healthy over the short term. For example, if you go back to Monday the 20th, of the five stocks mentioned as gapping upward in the IBD Inside The Market column (Tuesday edition), fully three are classic exhaustion gaps: WLA, CNF and FVB. As Elder says, "exhaustion gaps appear at the end of trends." Buyer beware ! Walter Stock (yes, that really is my last name) Oakville, ONT - Canada e-mail: wstock@globalserve.net - - ------------------------------ Date: Fri, 24 Jul 1998 10:27:39 -0400 From: Robert Bomba <73223.2767@compuserve.com> Subject: RE: [CANSLIM] Not CANSLIM - Today's Market Downturn >> BY a set of strategies that one would put in place in case any of the scenarios were to occur. << Using triple screen be long in each of the top 10 groups with a strong stock from each group. To hedge be short stocks that have made new lows recently. Your milage may vary, Bob - - ------------------------------ Date: Fri, 24 Jul 1998 08:11:43 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Gapping, Elder, Walter, Jeffry <> In what way did the screens persuade you to exit the market? What measures did you use? - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 1998 17:31:20 +0200 From: Johan Van Houtven Subject: RE: [CANSLIM] Not CANSLIM - Today's Market Downturn >Writing scenarios is a popular pasttime at times like these. The only >problem is that few people get any benefit from it beyond >entertainment value. What would be of far more value, particularly to >the newbie, would be the development of several scenarios covering the >most likely eventualities, ACCOMPANIED BY a set of strategies that one >would put in place in case any of the scenarios were to occur. Johan >states that he's going to take it one day at a time, but I'm sure he >has a repertoire of strategies in his head that he can select from >depending on what happens each day. > >Anyone who enjoys writing scenarios would probably get more out of it >if he were to go beyond that to strategy as well. If nothing else, it >would help him to avoid indulging in hope or succumbing to fear. > >--Db Touche! That should shut me up for a while... B^) CANSLIM view: Sit tight. Keep your powder dry, as Ian would say. Daytraders view: Would you want me to pollute this group with a detailed daytraders scenarios? I'm afraid it is not useful for most of the members. So I keep my mound shut for a while. BTW, DELL already way below my 104/105 and even below your 102. Should bounce back to 102 level, even if it is for a short while. Oops, daytrader stuff again. I think about unsubscribing and reading the digistes for a while. Otherwise I'm to tempted to post. On the other hand, I'll be posting a lot less come next week, since I'll be working again then. Have fun, Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Fri, 24 Jul 1998 08:52:02 -0700 (PDT) From: dbphoenix Subject: RE: [CANSLIM] Not CANSLIM - Today's Market Downturn <> Not my intention, Johan. You're doing exactly what O'N recommends--taking it day by day and ignoring all the pundits and soothsayers. That's why I selected your response. You avoided the usual "the market will go up, the market will go down" stuff. I, for one, would be interested in anything you have to say with regard to strategy. For example, what are you looking at for support in the Dow? The OTC? What do you plan to do if those supports are violated? If they hold? What will you look for in terms of rally confirmation? Rally failure? How much effect will any of this have on your stock holdings? Will you look for the same signs in your stocks, or will you sell them regardless if certain events unfold in the markets as a whole? It isn't that scenarios aren't fun, but they're basically noise. They tempt one to lose focus, or focus in the wrong place. But scenarios accompanied by strategies are a necessary part of wending one's way through the mine-field. Whatever you do, don't stop posting or even cut back on them. Your contributions are too valuable. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 1998 09:43:58 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Conflicting Signals I received an e-mail regarding market direction, and it brought up once again the importance of deciding in advance what kind of investor you are. If one waits until the **** hits the fan, he'll probably make an emotional rather than a rational decision, and it'll probably be wrong. For example, both the weekly and daily Dow are anything but healthy-looking. The weekly MACD crossed down two weeks ago. The weekly SS crossed down two weeks ago and again yesterday (if you're a fan of divergences, notice that the Dow continued to rise three, four, and five weeks ago, even though the SS was declining throughout. The daily Dow doesn't look much better. Both the MACD and SS are negative, and the Dow itself is near resting on a two-thirds retracement level. It has, however, broken both its 17d and 50d. The Nasdaq, on the other hand, is well above its 50d, but is resting on a one-third retracement level which also coincides with a tentative base formed the last week of June and also with the previous peak on 4/22. Maybe this is what some people are using as their line in the sand. Others may have exited when the average fell through its 17d. Both the MACD and SS are negative, but the weekly is a different story. Should one wait for the 50d? A short-term trader would never even consider it. Some intermediate-term traders might, depending on where they bought and what's happening with their particular portfolio. Longer-term investors, though, might smack their lips in anticipation of such an occurrence. So what does one do with all this? Again, it depends on what kind of investor one is. Maybe the 17d on the OTC is your line in the sand. Maybe it's a retracement level of some sort. Maybe it's previous support. Maybe it's the 50d. Maybe one uses all of this as a backdrop for making buy and sell decisions regarding particular stocks, e.g., IF my stock breaks below a certain point AND the market is weak, THEN I'll sell. My point is that all of this must be decided in advance. Otherwise one finds oneself constantly redrawing the line, like in the movie where the guy says I dare you to cross this line, and when his opponent does, he says All right, I dare you to cross THIS line, and so forth until he backs himself off a cliff. So if anyone is anxious about whether to sell something or other, perhaps this is a good time to sit back and think about goals and strategy, and whether the decisions one is trying to make are based on a well-thought-out plan or whether one is making it up as he goes along more than he really wants to or is comfortable with. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 1998 12:56:50 -0400 From: Ari Lawson Subject: Re: [CANSLIM] Gapping, Elder, Walter, Jeffry Could you please tell me were to get Dr.Elders book. Thanks Ari - - ------------------------------ Date: Fri, 24 Jul 1998 10:54:08 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Shorts Anyone interested in a shorting thread? Or setting up a separate e-mail group to discuss shorting over the next few weeks? - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 98 12:55:55 -0500 From: "Robert Gammon" Subject: Re: [CANSLIM] Gapping, Elder, Walter, Jeffry On Fri, 24 Jul 1998 12:56:50 -0400, Ari Lawson wrote: >Could you please tell me were to get Dr.Elders book. > Thanks Ari > Amazon.Com sells the book for about $41. *----------------------------------------------------* Robert Gammon My opinions are my own. rgammon@micro.ti.com In no way am I representing 281-274-3299 voice the views of my employer. 281-274-2279 fax *----------------------------------------------------* - - ------------------------------ Date: Fri, 24 Jul 1998 11:05:42 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] To All "New America" Readers Thought those of you who are avid followers of the newest and trendiest might be able to help this individual . . . - --Db <> _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 1998 11:22:14 -0700 From: "Joe Barger" Subject: Re: [CANSLIM] Shorts You're reading my mind... - -----Original Message----- From: dbphoenix To: canslim@lists.xmission.com Date: Friday, July 24, 1998 10:57 AM Subject: [CANSLIM] Shorts > > >Anyone interested in a shorting thread? Or setting up a separate >e-mail group to discuss shorting over the next few weeks? > >--Db > > >_________________________________________________________ >DO YOU YAHOO!? >Get your free @yahoo.com address at http://mail.yahoo.com > > >- > - - ------------------------------ Date: Fri, 24 Jul 1998 12:39:38 -0800 From: "Patrick Wahl" Subject: Re: [CANSLIM] Shorts Date sent: Fri, 24 Jul 1998 10:54:08 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] Shorts To: canslim@lists.xmission.com Send reply to: canslim@lists.xmission.com > > > Anyone interested in a shorting thread? Or setting up a separate > e-mail group to discuss shorting over the next few weeks? If you do either one, I am interested. - - ------------------------------ Date: Fri, 24 Jul 1998 11:49:41 -0700 (PDT) From: rolatzi Subject: Re: [CANSLIM] Shorts or Un-CANSLIM Db: A week ago, last Friday, i posted that the VIX (volatility index) was extremely low and that it is often an indicator of complacency. In addition, low premiums on options cry out for buying them and complacency and valuation levels suggested buying put options. Unfortunately, I didn't really have a good strategy for screening for shorts in place last week. Some ideas include Zoran's notion of looking for upside down canslim patterns, topping off or rolling down off of the high (how to distinguish from a new basing mode). Perhaps the best technical indicators would be decelerating earnings and revenue growth. Craig's idea of looking for stocks that dropped below the 50d MA and then bounced off it from below could be utilized or Elders triple screen methods by loking at weekly patterns on MACD and then going to daily oscillators, with sell orders below support level. By the way, the VIX jumped from under 17 on Monday to 25 yesterday back down to 24.2 today. I would appreciate a discussion of this topic. Ciao, rolatzi PS if people object we may have to create a secondary group. - ---dbphoenix wrote: > > > > Anyone interested in a shorting thread? Or setting up a separate > e-mail group to discuss shorting over the next few weeks? > > --Db > > > _________________________________________________________ > 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: Fri, 24 Jul 1998 12:08:06 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Shorts or Un-CANSLIM <> These are all interesting ideas. Craig is conservative in his approach, as am I. The more aggressive may want to short off the top rather than wait for the rally attempt. As far as Elder, though, I suspect you'd have to reverse it, as I do for the long side. Waiting for the weekly MACD to turn down may mean waiting too long, since short candidates tend to fall easier than they rise. But whatever. If there are no objections, we'll discuss it here. If anyone has a complaint to air, I assume we'll hear of it by tomorrow. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 1998 14:53:35 -0500 From: "Michael Ziegler" Subject: Re: [CANSLIM] Gapping, Elder, Walter, Jeffry You can buy it directly from his web site at: http://www.elder.com I believe he'll autograph it for you if you buy it there. Mike Z - -----Original Message----- From: Ari Lawson To: canslim@lists.xmission.com Date: Friday, July 24, 1998 11:58 AM Subject: Re: [CANSLIM] Gapping, Elder, Walter, Jeffry >Could you please tell me were to get Dr.Elders book. > Thanks Ari > > >- > > - - ------------------------------ Date: Fri, 24 Jul 1998 13:05:56 -0700 From: "Ken Davidson" Subject: [CANSLIM] Capitol Hill Shooting! 7/23/98 16:03 est. The market was on its way to close to the upside when a shooting was reported at Capitol Hill 10 minutes before the close. The Dow went from a +15 point gain to -22.00 points minutes after the announcement. When it appeared that there were no important government officials shot the Dow came back to close a little to the upside. We'll let you know when we have more data about the shooting and the official close on the Dow. Ken - - ------------------------------ Date: Fri, 24 Jul 1998 22:28:06 +0200 From: Johan Van Houtven Subject: [CANSLIM] "M" Well, no reversal yet. Maybe we won't get one. Looks more like find those potential short opportunities to me! Ouch! The market always does what most people do not expect it to do, right? Let's fade the noise away: The stats for the OTC: 24/07: Today we closed @ 1931.09, -0.22%. lower than yesterday. Intraday the picture looked a bit different however. Hi: 1954.69 Low:1909.75. So we closed in the middle of that range. Vol: 809820000 shares traded. 7.44% lower than yesterday. 3.81% above ADV(30) and 8.12% above ADV(50). Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Fri, 24 Jul 1998 13:33:24 -0700 From: "Ken Davidson" Subject: [CANSLIM] Caught! 7/24/98 Close 16:30 est. The shooter was finally caught which is always a good thing. If there were no guns out there we wouldn't have to worry about these stupid shootings all the time! Anyhow, personal opinions aside, you'll be glad to know the Dow came back to close at 8937.36 up +4.38 points. The S&P 500 closed at 1140.80 up +1.05 points. The Nasdaq composite was not so fortunate and still closed with a loss of -4.13 points finishing the week at 1931.09. The market was all over the place today as bulls and bears fought it out all day trying to gain ground. With no guns by the way! I think the heat is getting to me! The 1130 level on the S&P 500 was touched today when it was at its lows with the Dow down -55 and -9.00 points respectively. That is a very key level for the market and the bounce off of it was important but we'll talk more about that in this weeks letter! Ken - - ------------------------------ Date: Fri, 24 Jul 1998 22:34:08 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Capitol Hill Shooting! Can you believe this is already on Belgian television? At 01:05 PM 24-07-98 -0700, you wrote: >7/23/98 16:03 est. >The market was on its way to close to the upside when a shooting was >reported at Capitol Hill 10 minutes before the close. The Dow went from a >+15 point gain to -22.00 points minutes after the announcement. Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Fri, 24 Jul 1998 15:54:51 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Not CANSLIM - Today's Market Downturn On Fri, 24 Jul 1998 17:31:20 +0200, you wrote: :>Writing scenarios is a popular pasttime at times like these. The only :>problem is that few people get any benefit from it beyond :>entertainment value. What would be of far more value, particularly to :>the newbie, would be the development of several scenarios covering the :>most likely eventualities, ACCOMPANIED BY a set of strategies that one :>would put in place in case any of the scenarios were to occur. Johan :>states that he's going to take it one day at a time, but I'm sure he :>has a repertoire of strategies in his head that he can select from :>depending on what happens each day. :> :>Anyone who enjoys writing scenarios would probably get more out of it :>if he were to go beyond that to strategy as well. If nothing else, it :>would help him to avoid indulging in hope or succumbing to fear. :> :>--Db : :Touche! That should shut me up for a while... B^) : :CANSLIM view: Sit tight. Keep your powder dry, as Ian would say. Por favor: where on the Web can I find Ian Woodward, anyway... Can you/someone please post a URL? : :Daytraders view: Would you want me to pollute this group with a detailed :daytraders scenarios? I'm afraid it is not useful for most of the = members. Personally, I'd welcome it (and look askance at anyone putting it down!). : :So I keep my mound shut for a while. Your prerogotive, of course. : :BTW, DELL already way below my 104/105 and even below your 102. Should :bounce back to 102 level, even if it is for a short while. Oops, = daytrader :stuff again. I know you're not, but I feel pretty clueless what DELL's going to do. Been watching closely, but don't know.=20 Dan : :I think about unsubscribing and reading the digistes for a while. = Otherwise :I'm to tempted to post. On the other hand, I'll be posting a lot less = come :next week, since I'll be working again then.=20 : :Have fun, : : : :Johan Van Houtven / CLICK! N.V. : : : : :- musicant@autobahn.org - - ------------------------------ Date: Fri, 24 Jul 1998 22:06:00 +0200 From: Johan Van Houtven Subject: RE: [CANSLIM] Not CANSLIM - Today's Market Downturn At 08:52 AM 24-07-98 -0700, you wrote: >Not my intention, Johan.=20 I know it is not your intention. But I could use some extra motivation to a) drastically reduce my posts, b) stop watching every tick of the markets from open to close. Why? I planed to use this week's vacation to a) read and reread all of Ian's stuff, b) get more organized, i.e. make a list of factors I have to look at before buying a stock, develop the most optimal stock screening strategy, etc, etc. What have I done this week? Watched the markets intensively and posted some garbage and mediocre posts. Mind you I do not regret watching the markets as I had a lot of fun and made more with daytrading than I at my day-job in 6 months. But I did not accomplish any of my other goals, the things I set out to do before taking this 1-week vacation. Not that important, but still=85 > You're doing exactly what O'N >recommends--taking it day by day and ignoring all the pundits and >soothsayers. That's why I selected your response. You avoided the >usual "the market will go up, the market will go down" stuff. > >I, for one, would be interested in anything you have to say with >regard to strategy. For example, what are you looking at for support >in the Dow? The OTC? What do you plan to do if those supports are >violated? If they hold? What will you look for in terms of rally >confirmation? Rally failure? DB, I haven't done all this work yet. Will do that during the weekend or next week. Have you already done all of that?=20 I currently have this main though in the back of my head: Advancers/decliners look so badly the last few months that IF we get a new rally in the short term now, a) adv/dec would have to improve to get me in with confidence or b) I would get in those few stocks leading the market higher, but approach things from a several-day traders point of view. My time horizon for the statements above is 1 to 2 weeks max. I'll adapt those views from day to day, or even faster if necessary. Flexibility is quite important. And I do not mean that one should constantly change their approach. Absolutely not. I mean to say that one shouldn't be rigid in ones view, saying X should happen, when clearly "not X" is happening. It is good to have a plan, but if things are looking like what you expected to happen is not happening, be quick enough to recognize it, admit it and move on. I find it difficult to correctly put my thoughts about this on (electronic) paper. I'll say this: My trading improved big time after taking an NLP training. I took that training in June 1996 if I remember correctly. I had just stared investing a few months earlier. I left home with no stops in place. Stupid. The day I left for that training the market topped. It was straight downhill from there. When I came back home I was 30% down. So I could either call it quits or do something about it. Easy choice: I decided to do something about it. Sold everything. And started to look for and read investment books. Read HTMMIS. Decided that was it. Took me approx. 8 months to make 50%. So now I had my initial capital back. Steadily improved my performance since then.=20 While there are many reasons why my trading improved I think the one of the important reasons is flexibility. If you do something, and it is not working out, do something else! Not just anything else of course.=20 Now there will be hordes of people saying "That's pretty stupid advice, Johan. That way you will deplete your capital in no time." Why will they say that? Maybe because they do not yet fully realize what flexibility is. And I do not state that to critique them, it is just the way it is. Very few people in my experience have real flexibility. They are often trapped, without knowing it themselves, in a narrow range of possibilities. Comparable to a horse with blinkers walking in a treadmill. Because you do not have to keep putting your money in stocks, options or whatever. You do not have to switch from being a bear, to being a bull. You do not have to keep experimenting with this or that investing method. You could go to cash and start reviewing your trades. You could start studying HTMMIS and HGS. You could expand your view and stop trading/investing alltogether. You could switch to mutual funds. You could put your money in the bank. You could use your money to set up a business and make money that way. You could do almost an infinite number of other things. And last but not least: Flexibility also means that you can be inflexible at times. B^) Why NLP? Because it is the best way I know of to change yourself to what you want yourself to be. As Harlan says: (In the markets) "We are our own worst enemies!". Want to get rid of your worst enemy? Change yourself. Before anyone starts to critique NLP. I already agree with you. First there are IMHO very few people in the world that are good and worthy NLP trainers. Many NLP trainers are nothing more than egoistical, make-a-fast-buck type of crooks, preying on the gullible and the unsuspecting. It's a pitty, but it is the harsh reality. And secondly, it is extremly difficult to get an idea of what NLP really is, if you do not experience it. It is like trying to explain what love is to someone who has never experienced love. It is like trying to explain how sex feels, to someone who has never experienced it. You just can not do justice to it by trying to explain it. If you do want to learn about what it is, you might want to visit Rex Steven Sikes' site at http://www.idea-seminars.com. Questions? Call or email his wife Carolyn at carolyn@idea-seminars.com. God knows I've searched the world to find good NLP trainers. I've yet to find someone that is better than Rex and has a 6 month money back guarantee. And last but not least, before anyone brings him up: Anthony Robbins. Yes, I've read his books, and trained with him. Not to bad, not great. Way, waaaaayyyyy behind Rex Steven Sikes. The difference between the two is like day and night. Robbins is more about peak performance and NLP 20 years ago. He misses out on the essence of NLP, on 99% (to get the idea across) of the really good stuff. BTW, I wish I could name a few more good trainers out there, because this might make me look like an Rex groupie or such. I am searching and continue to search the world to find other capable NLP trainers. No luck yet. One more extra thing before you go off to web-site and come back "Oh yeah, I know what NLP is all about, now." The only thing you really know then is what the concept of "premature closure" is all about. ;^) Damn, I planned to write a word or two about NLP, seems like a whole book now. =20 >How much effect will any of this have >on your stock holdings? Will you look for the same signs in your >stocks, or will you sell them regardless if certain events unfold in >the markets as a whole? What time frame are you place these questions in? Anyway, haven't done the necessary chart studying yet, but would love to know your views on all these excellent points you are bringing forward. >It isn't that scenarios aren't fun, but they're basically noise. They >tempt one to lose focus, or focus in the wrong place. But scenarios >accompanied by strategies are a necessary part of wending one's way >through the mine-field. > >Whatever you do, don't stop posting or even cut back on them. Your >contributions are too valuable. I didn't stop and I didn't cut back allright. About my contributions being valuable? Have you ever considered stand-up comedy, DB? I'm laughing myself silly. But nevertheless, if it was meant to be a compliment, thanks! Seriously if there have been any valuable posts here then in my opinion the were yours (no.1), Craig's, Frank's, Jeffry's and a few others who names I can't remember right now. Boy did I miss a reversal in the market while I was busy writting all of this. Mmmh, money flowing into MRK, PFE, PE, SWY=85 what about that shorting thread? }B^) Have fun, Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Fri, 24 Jul 98 18:54:36 PDT From: "Walter Stock" Subject: Re: [CANSLIM] Gapping, Elder, Walter, Jeffry > < but he has certainly helped make me money. > I was back to 100% cash in my trading account last Friday. > Had even weeded my retirement account and sold off > some erstwhile perma-holdings.>> > > In what way did the screens persuade you to exit the market? What > measures did you use? > > --Db Hi Db, It started two Tuesday's ago when I had sold a holding in one of my accounts and found myself with 20% of that account to re-invest in the market. I checked through each of the dozens of Canslim stocks that I follow using Triple Screen. Using weekly MACD-Histogram I found that although most stocks had bars that were rising (good) most of them had also risen above the zero line (time to start looking for good exits). Checking my existing holdings I noticed this same pattern in all of them. Time to start selling. This relates to Elder's (and Pring's) concept of seasons in the price movement of stocks and indicators. Summer was ending and it was time to harvest. Checking Canslim "M", the amount of self-congratulation going on (and especially Jeffry's wake-up call about investor sentiment numbers) all confirmed the decision. Walter Stock (yes, that really is my last name) Oakville, ONT - Canada - - ------------------------------ Date: Sat, 25 Jul 1998 00:55:48 +0200 From: Johan Van Houtven Subject: Re: [CANSLIM] Not CANSLIM - Today's Market Downturn At 03:54 PM 24-07-98 GMT, you wrote: >Por favor: where on the Web can I find Ian Woodward, anyway... >Can you/someone please post a URL? Sure. Here you go: http://nt-chat0.telescan.com:8080/gotomenu And you can get his newsletter at: http://sosadvisors.com/ianshome.htm Also several tidbits about Ian at: http://www.industrymonitors.com/ >:So I keep my mound shut for a while. >Your prerogotive, of course. Sorry don't understand that Dan. What is prerogotive? Or did you mean prerogative? Johan Van Houtven / CLICK! N.V. - - ------------------------------ Date: Fri, 24 Jul 98 19:01:03 PDT From: "Walter Stock" Subject: Re: [CANSLIM] Shorts > Anyone interested in a shorting thread? Or setting up a separate > e-mail group to discuss shorting over the next few weeks? > > --Db Hi Db, Yes, I would be very interested in either of the proposals. Shorting skills are particularly useful for those of us who also play the Canadian markets. ;-) Walter Stock (yes, that really is my last name) Oakville, ONT - Canada e-mail: wstock@globalserve.net - - ------------------------------ Date: Fri, 24 Jul 1998 16:03:03 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] Caught! <> What letter? - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Fri, 24 Jul 1998 16:46:32 -0700 (PDT) From: dbphoenix Subject: RE: [CANSLIM] Not CANSLIM - Today's Market Downturn <> Not for every possible contingency. I place more importance on market psychology that many people do. If I see that perceptions are changing, I view support and resistance (and bounces and violations) differently. For instance, when the OTC was coming off its most recent bottom, I saw that the leaders tended to close near their highs for the day, that rallies tended to follow through in subsequent days, that volume was generally higher on up days than down, that when dips occurred they were bought aggressively, that stocks tended to retrace in the morning and show strength in the afternoon, etc. In an environment like that, I'd be much more aggressive in buying a bounce off major support, or even buying a leader that came within shouting distance of support. If support were violated to a slight degree, I'd be more confident in holding overnight. Now, however, all this is reversed. I'm far less likely to go long and far more likely to sell with a tighter stop. In an environment such as this, a bounce off support is not necessarily positive. It may only be drawing the hammer back for a second and final blow (or think of bouncing on a trampoline that's about to rip). Plus there're the transports, the A/D line, the new lows, etc., etc. As I said in my earlier post, at what point do you draw the line? Some draw it very early and just wait for the opportunity to buy back in. Others have a longer view, bought earlier to begin with, and would rather draw the line later to avoid having to mess with all this. But even they have their limits. How much evidence must one be presented with before acknowledging that the market has a problem? Yes, this can all change by Tuesday, but that's Tuesday. Today the market has a problem, so you deal with what you've got at the time you've got it. When the situation changes, you shift gears and put your long hat back on. <> Hear! Hear! How many people convince themselves that their stocks can't possibly be in trouble because there's so much money flowing into the market, and yet their stocks keep sinking lower and lower? This is what having one scenario firmly planted in your consciousness can do. At the very least one should have three--the very best that could happen, the very worst that could happen, and something somewhere in the middle, along with all the buy, sell, and hold strategies that go with each. <> A surprising number of people fail to make a connection between how they invest and how much money they make, just as most people fail to make a connection between what they eat and how they look. As you say, being flexible doesn't mean flitting from one thing to another without any strategy whatsoever. It means facing the objective reality of the situation and selecting that strategy from your repertoire of strategies that is most appropriate to it. At the beginner level, one may have only one strategy, and that's fine. But he must know when that strategy is appropriate and when it isn't, and simply back away from the table when it isn't. <> Great paragraph. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ End of canslim-digest V2 #338 ***************************** 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.