Go to Jeff Salisbury LWGate Home Page.From: "Dave Squires" <dcsquires1@home.com>
Subject: Re: [CANSLIM] stacking the odds in my favor-buying before the pivot point
Date: Fri, 21 Dec 2001 22:47:48 -0600
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Dan,
Although I don't trade the CS "party line" it's still a valid and very =
good method to beat the market over time. The party line has not worked =
in any consistent way since March 2000. Of course, this is of little =
surprise to many here as we have entered a SECULAR bear market since =
then. In such an environment false market rallies, breakout whipsaws and =
wanna-be cyclical leaders have plagued the new (and some old) CS legions =
that "got the bug" in late 99'. The CS approach has always been more =
about the "what is" then the "how to". WON's original method still works =
and is timeless but recently has been obscured by continued "how to" =
failures. This is GOOD.....and goes to a comment WON has made many =
times...they wear you out or they scare you out. March 2000 to the panic =
low was the scare you out phase. Now comes the wear you out phase. It =
will be composed of many months of breakout whipsaws and frustration =
only to give birth to.................. blindly buying 1/8 above the =
handle high!! The signs are already here, what, with many growth stocks =
starting right side base construction. After 18 months of BS......it IS =
time to start paying attention. That said, most secular bear markets =
have a dynamic rally phase and this is likely to be that phase. The =
current pullbacks is the key to understanding the next few months of =
this bear market rally. If we pivot off the 50 day MA it is likely we =
have a continued rally into next year. If not we may enter an extended =
trading range.=20
DSquires
----- Original Message -----=20
From: Dan Forant=20
To: canslim@lists.xmission.com=20
Sent: Friday, December 21, 2001 7:05 PM
Subject: Re: [CANSLIM] stacking the odds in my favor-buying before the =
pivot point
Hmmmm, sounds like the Canslim group here is having growing pains. I =
was wondering when some good technical discussions were going to take =
place. It's been buy blindly 1/8 above breakout up to 5% and watch your =
wallet for too long.=20
DanF
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Friday, December 21, 2001 1:24 PM
Subject: Re: [CANSLIM] stacking the odds in my favor-buying before =
the pivot point
Patrick,
Really interesting point of view in this quote. Sure makes the case =
for supply & demand driving breakouts. Seems like it also makes the case =
for looking for alternative technical patterns and/or modified entry =
points other than the usual CANSLIM party line.
Katherine
----- Original Message -----=20
From: Patrick Wahl=20
To: canslim@lists.xmission.com=20
Sent: Friday, December 21, 2001 12:13 PM
Subject: Re: [CANSLIM] stacking the odds in my favor-buying before =
the pivot point
I have been wondering for a while if the fact that these breakout =
points have=20
become so well known expains why there seems to be (seems is the =
key word, I=20
have no empirical evidence) so many failed breakouts. I have =
gotten to the point=20
where I frequently wait for a breakout and then buy a pullback, =
rather than trying to=20
anticipate it, or get in at the breakout point. =20
Regarding failed breakouts, I was reading a daytrading book (The =
Master Day=20
Trader, not to be confused with The Master Swing Trader), and =
found the following=20
passage interesting -
"We teach our traders to be the creators of those market events =
that others are=20
waiting for. If the crowd is waiting for the stock to trade above =
40 before they buy,=20
then we say 'get the stock up to 40 1/8'. In other words, make =
the chart. ... we=20
thought it would be beneficial for you to know how the =
professionals are playing the=20
crowd. The idea is to ignite the action of your desire by getting =
to the crowd to take=20
your lead. It can't always be done, but our Master Traders pull =
it off more often than=20
some might think."
On 21 Dec 2001 at 11:36, Dave Squires wrote:
> the W. For an other "base" it's usually the spot where the major =
resistance
> is overcome. These are obvious points because WON, et al have =
taught
> breakout buying for many years now and the 90's were a breakout =
traders
> utopia.
> Maybe it's not as hard as I make it out to be, but I have =
not had
-
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-In the email body, write "subscribe canslim" or
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<HTML><HEAD>
<META http-equiv=3DContent-Type content=3D"text/html; =
charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2600.0" name=3DGENERATOR>
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial size=3D2>Dan,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Although I don't trade the CS "party =
line" it's=20
still a valid and very good method to beat the market over time. The =
party line=20
has not worked in any consistent way since March 2000. Of course, this =
is of=20
little surprise to many here as we have entered a SECULAR bear market =
since=20
then. In such an environment false market rallies, breakout whipsaws and =
wanna-be cyclical leaders have plagued the new (and some old) CS =
legions=20
that "got the bug" in late 99'. The CS approach has always been more =
about the=20
"what is" then the "how to". WON's original method still works and is =
timeless=20
but recently has been obscured by continued "how to" failures. This is=20
GOOD.....and goes to a comment WON has made many times...they wear you =
out or=20
they scare you out. March 2000 to the panic low was the scare you out =
phase. Now=20
comes the wear you out phase. It will be composed of many months of =
breakout=20
whipsaws and frustration only to give birth to.................. blindly =
buying=20
1/8 above the handle high!! The signs are already here, what, with many =
growth=20
stocks starting right side base construction. After 18 months of =
BS......it IS=20
time to start paying attention. That said, most secular bear markets =
have a=20
dynamic rally phase and this is likely to be that phase. The current =
pullbacks=20
is the key to understanding the next few months of this bear market =
rally. If we=20
pivot off the 50 day MA it is likely we have a continued rally into next =
year.=20
If not we may enter an extended trading range. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>DSquires</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2></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=3Ddforant1@nycap.rr.com =
href=3D"mailto:dforant1@nycap.rr.com">Dan=20
Forant</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> Friday, December 21, 2001 =
7:05=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] stacking =
the odds=20
in my favor-buying before the pivot point</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Hmmmm, sounds like the Canslim group =
here is=20
having growing pains. I was wondering when some good technical =
discussions=20
were going to take place. It's been buy blindly 1/8 above breakout up =
to 5%=20
and watch your wallet for too long. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>DanF</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 =
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> Friday, December 21, =
2001 1:24=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
stacking the=20
odds in my favor-buying before the pivot point</DIV>
<DIV><BR></DIV>
<DIV>Patrick,</DIV>
<DIV> </DIV>
<DIV>Really interesting point of view in this quote. Sure makes the =
case for=20
supply & demand driving breakouts. Seems like it also makes the =
case for=20
looking for alternative technical patterns and/or modified entry=20
points other than the usual CANSLIM party line.</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE=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=3Dpjwahl@attbi.com =
href=3D"mailto:pjwahl@attbi.com">Patrick Wahl</A>=20
</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> Friday, December 21, =
2001 12:13=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
stacking the=20
odds in my favor-buying before the pivot point</DIV>
<DIV><BR></DIV>I have been wondering for a while if the fact that =
these=20
breakout points have <BR>become so well known expains why there =
seems to=20
be (seems is the key word, I <BR>have no empirical evidence) so =
many=20
failed breakouts. I have gotten to the point <BR>where I =
frequently=20
wait for a breakout and then buy a pullback, rather than trying to =
<BR>anticipate it, or get in at the breakout point. =20
<BR><BR>Regarding failed breakouts, I was reading a daytrading =
book (The=20
Master Day <BR>Trader, not to be confused with The Master Swing =
Trader),=20
and found the following <BR>passage interesting -<BR><BR>"We teach =
our=20
traders to be the creators of those market events that others are=20
<BR>waiting for. If the crowd is waiting for the stock to trade =
above 40=20
before they buy, <BR>then we say 'get the stock up to 40 =
1/8'. In=20
other words, make the chart. ... we <BR>thought it would be=20
beneficial for you to know how the professionals are playing the=20
<BR>crowd. The idea is to ignite the action of your desire =
by=20
getting to the crowd to take <BR>your lead. It can't always =
be done,=20
but our Master Traders pull it off more often than <BR>some might=20
think."<BR><BR><BR><BR>On 21 Dec 2001 at 11:36, Dave Squires=20
wrote:<BR><BR>> the W. For an other "base" it's usually the =
spot where=20
the major resistance<BR>> is overcome. These are obvious points =
because=20
WON, et al have taught<BR>> breakout buying for many years now =
and the=20
90's were a breakout traders<BR>>=20
utopia.<BR> > Maybe it's not as =
hard as I=20
make it out to be, but I have not had<BR><BR><BR>-<BR>-To=20
subscribe/unsubscribe, email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
=20
the email body, write "subscribe canslim" or<BR>-"unsubscribe=20
canslim". Do not use quotes in your=20
email.</BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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