Go to Jeff Salisbury LWGate Home Page.From: Gene Ricci <genr@swbell.net>
Subject: Re: [CANSLIM] Point of View: Why bother with fundamentals?
Date: Sun, 16 Dec 2001 16:23:51 -0600
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K, thanks for the clarification.
A couple of weeks ago I would have said 'no fundamentals... are you =
kidding me'.=20
I've had several discussions over the past 2-3 weeks and as recently as =
last Thursday, I was told to think 'out of the box' by a VP at =
WizeTrade. I signed up for their 30-day trial (week ago) and was in his =
office 'showing' him the shortcomings of his system. He showed me a sign =
that said... price is determined by buyers and sellers. He went on to =
say that all I had to do was to look at the Green (buy) and Red (sell) =
indicators.... green means more buyers than sellers and red more sellers =
than buyers. The program has charts.... felt better when I found that =
out.... turns out the charts were just time intervals intraday, day, =
week, month.... the lines on the chart were green and red. When the =
green crossed up over red, time to buy.... when red over green it's time =
to sell.=20
From WizeTrade home page or links.
The green line and the red line are summation formulas and not price =
lines or graphs
"No, WizetradeT is not based on "moving averages." WizetradeT uses =
seven key technical indicators to perform its complex "real-time" =
calculations at the rate of 800-1500 calculations per second. The seven =
key indicators are the previous day's closing price, the current day's =
opening price, high, low, every up tick, every down tick - which are =
then exponentially weighted to volume."=20
How can this system work, no fundamentals, stochastic, MACD, =
candlesticks, CANSLIM, etc.?? They seem to take pride in buying =
companies that they don't know much about or what the symbol stands =
for.... they do take pride in the fact that their software tells them =
immediately when there are more buyers than sellers, etc. .... BTW, they =
signaled to get out of ENE at 80+.
I was told that fundamentals were nothing more than a time waster and a =
poor placebo (in a nice way).=20
I'm interested in learning 'the truth'. Certainly would be nice to quit =
looking at fundamentals and all that research as well as spending money =
on DGO/IBD.... etc. WizeTrade also eliminates the need to track or know =
anything about sector rotation.... their buyers and sellers tell them =
all that.
Is it possible that I've been wasting my time looking for data to =
support what I call a good company?
Naw, can't be!
Guess I'll just have to try to understand how and if their system =
works.... over the holidays.=20
Disclaimer: I don't work for them and until my trial is over, I'm not =
even a customer.
Gene
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Sunday, December 16, 2001 2:55 PM
Subject: Re: [CANSLIM] Point of View: Why bother with fundamentals?
That would mean any selection criteria that depended on something =
other than price/volume/volatility technical indicators.
Katherine
----- Original Message -----=20
From: Gene Ricci=20
To: canslim@lists.xmission.com=20
Sent: Sunday, December 16, 2001 3:14 PM
Subject: Re: [CANSLIM] Point of View: Why bother with fundamentals?
Please define "any sort of fundamental analysis"...=20
Thanks,
Gene
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Sunday, December 16, 2001 10:12 AM
Subject: [CANSLIM] Point of View: Why bother with fundamentals?
Proposed:
If a typical CANSLIM/Intermediate term move in a stock lasts only =
a few weeks, and in good markets, only a few months, why bother =
selecting portfolio candidates using any sort of fundamental analysis? =
Returns in this time period are strictly based on price movement and can =
be maximized based on technical indicators and price/volume action =
alone.
Thoughts pro/con?
Katherine
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<BODY bgColor=3D#ffffff>
<DIV>
<DIV><FONT face=3D"Comic Sans MS">K, thanks for the =
clarification.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">A couple of weeks ago I would have =
said 'no=20
fundamentals... are you kidding me'. </FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">I've had several discussions over the =
past 2-3=20
weeks and as recently as last Thursday, I was told to think 'out of the =
box' by=20
a VP at WizeTrade. </FONT><FONT=20
face=3D"Comic Sans MS">I signed up for their 30-day =
trial (week=20
ago) and was in his office 'showing' him the shortcomings of his system. =
He=20
showed me a sign that said... price is determined by buyers and sellers. =
He went=20
on to say that all I had to do was to look at the Green (buy) and =
Red=20
(sell) indicators.... green means more buyers than sellers and red more =
sellers=20
than buyers. The program has charts.... felt better when I found that =
out....=20
turns out the charts were just time intervals intraday, day, week, =
month.... the=20
lines on the chart were green and red. When the green crossed up over =
red, time=20
to buy.... when red over green it's time to =
sell. </FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">From WizeTrade home page or=20
links.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV> <FONT face=3DArial color=3D#330099 size=3D2><EM>The green =
line and the red=20
line are summation formulas and not price lines or =
graphs</EM></FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV>
<TABLE cellSpacing=3D0 cellPadding=3D2 width=3D"100%" border=3D0>
<TBODY>
<TR vAlign=3Dtop>
<TD align=3Dleft width=3D"98%"><FONT face=3D"Arial, Helvetica, =
sans-serif"=20
color=3D#330099 size=3D2><EM>"No, Wizetrade™ is not based on =
"moving=20
averages." Wizetrade™ uses seven key technical indicators to =
perform its=20
complex "real-time" calculations at the rate of 800-1500 =
calculations per=20
second. The seven key indicators are the previous day's closing =
price, the=20
current day's opening price, high, low, every up tick, every down =
tick -=20
which are then exponentially weighted to=20
volume."</EM></FONT></TD></TR></TBODY></TABLE>
<P><FONT face=3D"Comic Sans MS">How can this system work, no =
fundamentals,=20
stochastic, MACD, candlesticks, CANSLIM, etc.?? They seem to take pride =
in=20
buying companies that they don't know much about or what the symbol =
stands=20
for.... they do take pride in the fact that their software tells them=20
immediately when there are more buyers than sellers, etc. .... BTW, =
they=20
signaled to get out of ENE at 80+.</FONT></P></DIV>
<DIV><FONT face=3D"Comic Sans MS">I was told that fundamentals were =
nothing more=20
than a time waster and a poor placebo (in a nice way). </FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">I'm interested in learning 'the =
truth'.=20
Certainly would be nice to quit looking at fundamentals and all that =
research as=20
well as spending money on DGO/IBD.... etc. WizeTrade also eliminates =
the need=20
to track or know anything about sector rotation.... their buyers and =
sellers=20
tell them all that.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Is it possible that I've been wasting =
my time=20
looking for data to support what I call a good company?</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Naw, can't be!</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Guess I'll just have to try to =
understand how=20
and if their system works.... over the holidays. </FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Disclaimer: I don't work for them and =
until my=20
trial is over, I'm not even a customer.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV></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=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </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@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, December 16, 2001 =
2:55=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Point of =
View: Why=20
bother with fundamentals?</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>That would mean any selection =
criteria that=20
depended on something other than price/volume/volatility technical=20
indicators.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Katherine</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=3Dgenr@swbell.net href=3D"mailto:genr@swbell.net">Gene =
Ricci</A> </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@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, December 16, =
2001 3:14=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Point =
of View:=20
Why bother with fundamentals?</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3D"Comic Sans MS">Please define "any sort of =
fundamental=20
analysis"... </FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Thanks,</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></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=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, December 16, =
2001 10:12=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Point of =
View: Why=20
bother with fundamentals?</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>
<DIV><FONT face=3DArial size=3D2>Proposed:</FONT></DIV>
<DIV><FONT face=3DArial size=3D2> </DIV></FONT>
<DIV><FONT face=3DArial size=3D2>If a typical CANSLIM/Intermediate =
term move=20
in a stock lasts only a few weeks, and in good markets, only a few =
months,=20
why bother selecting portfolio candidates using any sort of =
fundamental=20
analysis? Returns in this time period are strictly based on price =
movement=20
and can be maximized based on technical indicators and =
price/volume action=20
alone.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thoughts pro/con?</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial=20
=
size=3D2>Katherine</DIV></FONT></FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></B=
LOCKQUOTE></BODY></HTML>
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