Go to Jeff Salisbury LWGate Home Page.From: Jerry Weiss <docdoer@swbell.net>
Subject: Re: [CANSLIM] Thanks for the feedback
Date: Mon, 10 Dec 2001 10:28:20 -0600
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This is a multi-part message in MIME format. - ------=_NextPart_000_00CD_01C18165.63D3F600 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Thank you. Keep up the good work. Happy Holidays, Jerry Weiss ----- Original Message -----=20 From: Tom Worley=20 To: CANSLIM=20 Sent: Monday, December 10, 2001 3:42 AM Subject: [CANSLIM] Thanks for the feedback 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_00CD_01C18165.63D3F600 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 http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 5.50.4522.1800" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial size=3D4>Thank you.</FONT></DIV> <DIV><FONT face=3DArial size=3D4>Keep up the good work.</FONT></DIV> <DIV><FONT face=3DArial size=3D4></FONT> </DIV> <DIV><FONT face=3DArial size=3D4>Happy Holidays,</FONT></DIV> <DIV><FONT face=3DArial size=3D4></FONT> </DIV> <DIV><FONT face=3DArial size=3D4>Jerry Weiss</FONT></DIV> <DIV><FONT face=3DArial size=3D4></FONT> </DIV> <BLOCKQUOTE dir=3Dltr=20 style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; = BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV> <DIV=20 style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: = black"><B>From:</B>=20 <A title=3Dstkguru@netside.net href=3D"mailto:stkguru@netside.net">Tom = Worley</A>=20 </DIV> <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A = title=3Dcanslim@lists.xmission.com=20 href=3D"mailto:canslim@lists.xmission.com">CANSLIM</A> </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, December 10, 2001 = 3:42=20 AM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Thanks for = the=20 feedback</DIV> <DIV><BR></DIV> <DIV><FONT size=3D2>It would appear I considerably underestimated the = interest=20 in my WWW. To respond to a few questions and comments expressed, I = spend about=20 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=20 (paragraph) is composed of information from a half dozen or more=20 stories. The watchlist wannabes takes the most time, usually = about 3=20 hours on the weekend, to review upwards of 250-300 charts. In part, = this=20 process evolved out of criticism that I was dominating the list with=20 non-CANSLIM emails. So now I put all my "soap box" opinions into a = single post=20 (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=20 my personal way of monitoring how technically quality CANSLIM stocks = were=20 shaping up (both RS and EPS of 80 or better and price at or within 5% = of their=20 high and also in the DG books). Because I am reviewing for "M", I = disregard my=20 personal biases and look at all stocks. Originally I just printed the = list and=20 made margin notes. Eventually I started sharing those margin notes = with the=20 group. Now I guess it's a regular feature, and just add them into the = WWW=20 already started. But I do not use my own list for finding stocks I = will buy.=20 For that, I use daily lists reviewed throughout the week as stocks hit = new=20 highs. My idea in presenting the list is just to give some ideas for = watching=20 to those members that have not yet developed their own source for = CANSLIM=20 ideas. I would be happy to know that no one has use for this list, it = would=20 mean everyone has their own method. But I know that is not likely or=20 realistic, there are newcomers to 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=20 notice something (earnings forecast, for instance) that will cause me = either=20 to include, or omit, a stock, or add a comment (such as low price or = volume).=20 But the list is intended to be generic, without my personal biases, so = that=20 members that choose to use it can pick and choose what suits=20 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=20 I cannot intelligently assess their performance and future from a = fundies=20 perspective. Thus, I avoid them. I like tech stocks, as I see them=20 representing the best of entrepreneurial enterprise and growth. Where = my=20 knowledge may be lacking, I turn to my sons (both computer techs) or = to my IT=20 staff at work for better understanding. I don't like commodities type=20 companies, even tho I did once make good money on Bethlehem Steel, bot = on=20 CANSLIM basis. Sad to see it in bankruptcy today, they produced steel = for many=20 great buildings including the Empire State Building. I also typically = avoid=20 foreign companies, as that would introduce more variables (currency = rate=20 changes, another economy, another politics, etc) altho I will = occasionally=20 venture into a few (right now my VR fund has TTIL up 57%, bought as a = totally=20 non-CANSLIM stock at the time, and kept buying while it = underperformed). If I=20 do buy a foreign stock, it is usually either European, or Israeli = based. I=20 avoid Canadian stocks, not because there are not good ones there, but = because=20 their regulators permit too many scams and frauds. Because I am buying = small=20 companies not closely followed by analysts, I just don't have the time = to=20 investigate each one and be sure it is 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></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_00CD_01C18165.63D3F600-- - - - -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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