Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Thanks for the feedback
Date: Mon, 10 Dec 2001 04:42:42 -0500
Previous Article (by Subject): Re: [CANSLIM] SOME FEEDBACK NEEDED! DougC
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This is a multi-part message in MIME format. - ------=_NextPart_000_005A_01C18135.1AD37500 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable It would appear I considerably underestimated the interest in my WWW. To = respond to a few questions and comments expressed, I spend about 5-6 = hours a week typically in compiling this. The commentary I usually = accumulate throughout the week a few minutes at a time. Sometimes one = story (paragraph) is composed of information from a half dozen or more = stories. The watchlist wannabes takes the most time, usually about 3 = hours on the weekend, to review upwards of 250-300 charts. In part, this = process evolved out of criticism that I was dominating the list with = non-CANSLIM emails. So now I put all my "soap box" opinions into a = single post (well, I try anyway). For those that do not use the list of stocks, don't feel guilty, as I = also do not use other's lists normally. This list started out as my = personal way of monitoring how technically quality CANSLIM stocks were = shaping up (both RS and EPS of 80 or better and price at or within 5% of = their high and also in the DG books). Because I am reviewing for "M", I = disregard my personal biases and look at all stocks. Originally I just = printed the list and made margin notes. Eventually I started sharing = those margin notes with the group. Now I guess it's a regular feature, = and just add them into the WWW already started. But I do not use my own = list for finding stocks I will buy. For that, I use daily lists reviewed = throughout the week as stocks hit new highs. My idea in presenting the = list is just to give some ideas for watching to those members that have = not yet developed their own source for CANSLIM ideas. I would be happy = to know that no one has use for this list, it would mean everyone has = their own method. But I know that is not likely or realistic, there are = newcomers to CANSLIM every day. Several members suggested I boil the list down into a short list of 2 to = 10 stocks. To do that would require that I do the due diligence. Since = my stocks of choice are both low priced and usually thinly traded, they = rarely make it into the DG books by the time I own them. Thus the stocks = I review rarely produce anything I choose to own. And my review is = essentially limited to looking at a chart for the prior 6 months. = Occasionally I will notice something (earnings forecast, for instance) = that will cause me either to include, or omit, a stock, or add a comment = (such as low price or volume). But the list is intended to be generic, = without my personal biases, so that members that choose to use it can = pick and choose what suits them. As for my personal biases being helpful or educational, I don't think = so. While I have made investments in the past in banks, biotechs, REITs = and drug companies I won't do so again. This is a simple function of my = ignorance. I learned that I cannot understand these type companies, = therefore I cannot intelligently assess their performance and future = from a fundies perspective. Thus, I avoid them. I like tech stocks, as I = see them representing the best of entrepreneurial enterprise and growth. = Where my knowledge may be lacking, I turn to my sons (both computer = techs) or to my IT staff at work for better understanding. I don't like = commodities type companies, even tho I did once make good money on = Bethlehem Steel, bot on CANSLIM basis. Sad to see it in bankruptcy = today, they produced steel for many great buildings including the Empire = State Building. I also typically avoid foreign companies, as that would = introduce more variables (currency rate changes, another economy, = another politics, etc) altho I will occasionally venture into a few = (right now my VR fund has TTIL up 57%, bought as a totally non-CANSLIM = stock at the time, and kept buying while it underperformed). If I do buy = a foreign stock, it is usually either European, or Israeli based. I = avoid Canadian stocks, not because there are not good ones there, but = because their regulators permit too many scams and frauds. Because I am = buying small companies not closely followed by analysts, I just don't = have the time to investigate each one and be sure it is legitimate. Hope this answers everyone, Tom Worley stkguru@netside.net AIM: TexWorley - ------=_NextPart_000_005A_01C18135.1AD37500 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META content=3D"text/html; charset=3Diso-8859-1" = http-equiv=3DContent-Type> <META content=3D"MSHTML 5.00.2314.1000" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT size=3D2>It would appear I considerably underestimated the = interest in=20 my WWW. To respond to a few questions and comments expressed, I spend = about 5-6=20 hours a week typically in compiling this. The commentary I usually = accumulate=20 throughout the week a few minutes at a time. Sometimes one story = (paragraph) is=20 composed of information from a half dozen or more stories. The = watchlist=20 wannabes takes the most time, usually about 3 hours on the weekend, to = review=20 upwards of 250-300 charts. In part, this process evolved out of = criticism that I=20 was dominating the list with non-CANSLIM emails. So now I put all my = "soap box"=20 opinions into a single post (well, I try anyway).</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>For those that do not use the list of stocks, don't = feel=20 guilty, as I also do not use other's lists normally. This list started = out as my=20 personal way of monitoring how technically quality CANSLIM stocks were = shaping=20 up (both RS and EPS of 80 or better and price at or within 5% of their = high and=20 also in the DG books). Because I am reviewing for "M", I disregard my = personal=20 biases and look at all stocks. Originally I just printed the list and = made=20 margin notes. Eventually I started sharing those margin notes with the = group.=20 Now I guess it's a regular feature, and just add them into the WWW = already=20 started. But I do not use my own list for finding stocks I will buy. For = that, I=20 use daily lists reviewed throughout the week as stocks hit new highs. My = idea in=20 presenting the list is just to give some ideas for watching to those = members=20 that have not yet developed their own source for CANSLIM ideas. I would = be happy=20 to know that no one has use for this list, it would mean everyone has = their own=20 method. But I know that is not likely or realistic, there are newcomers = to=20 CANSLIM every day.</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>Several members suggested I boil the list down into = a short=20 list of 2 to 10 stocks. To do that would require that I do the due = diligence.=20 Since my stocks of choice are both low priced and usually thinly traded, = they=20 rarely make it into the DG books by the time I own them. Thus the stocks = I=20 review rarely produce anything I choose to own. And my review is = essentially=20 limited to looking at a chart for the prior 6 months. Occasionally I = will notice=20 something (earnings forecast, for instance) that will cause me either to = include, or omit, a stock, or add a comment (such as low price or = volume). But=20 the list is intended to be generic, without my personal biases, so that = members=20 that choose to use it can pick and choose what suits them.</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>As for my personal biases being helpful or = educational, I=20 don't think so. While I have made investments in the past in banks, = biotechs,=20 REITs and drug companies I won't do so again. This is a simple function = of my=20 ignorance. I learned that I cannot understand these type companies, = therefore I=20 cannot intelligently assess their performance and future from a fundies=20 perspective. Thus, I avoid them. I like tech stocks, as I see them = representing=20 the best of entrepreneurial enterprise and growth. Where my knowledge = may be=20 lacking, I turn to my sons (both computer techs) or to my IT staff at = work for=20 better understanding. I don't like commodities type companies, even tho = I did=20 once make good money on Bethlehem Steel, bot on CANSLIM basis. Sad to = see it in=20 bankruptcy today, they produced steel for many great buildings including = the=20 Empire State Building. I also typically avoid foreign companies, as that = would=20 introduce more variables (currency rate changes, another economy, = another=20 politics, etc) altho I will occasionally venture into a few (right now = my VR=20 fund has TTIL up 57%, bought as a totally non-CANSLIM stock at the time, = and=20 kept buying while it underperformed). If I do buy a foreign stock, it is = usually=20 either European, or Israeli based. I avoid Canadian stocks, not because = there=20 are not good ones there, but because their regulators permit too many = scams and=20 frauds. Because I am buying small companies not closely followed by = analysts, I=20 just don't have the time to investigate each one and be sure it is=20 legitimate.</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>Hope this answers everyone,</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>Tom Worley<BR><A=20 href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A><BR>AIM:=20 TexWorley<BR></FONT></DIV></BODY></HTML> - ------=_NextPart_000_005A_01C18135.1AD37500-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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