AW: [CANSLIM] Lack of Buy Candidates

From: Andreas Himmelreich <judgejimmy@web.de>
Subject: AW: [CANSLIM] Lack of Buy Candidates
Date: Sat, 16 Feb 2002 11:14:49 +0100

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Dito.

For me its not so much about profiting with the shorts, but I know my =
self
exactly: I have to be in the market (long or short), I just can
not sit back and be 100% in cash.
But beeing long in this market, the odds are against you, execpt you
invest in industry groups which are doing good in down markets (like
defensive stuff, HMO etc.) MME just broke out, the group was up for =
weeks=20
now, and finally the stock
reacted.

Nevertheless, there is much more stuff to short, then to be long in.
But be aware --> The extension rule (overextended stocks) is important.
Only short stuff, that has a base and starts to break down. The
Industry Group RS should be below 40, better 30, and be in a clear=20
downtrend.
Best is if you find a IG Graph that hits a new low in Price and RS =
coming=20
from
a base and the stock has not reacted. Also look at the reaction of the=20
stock to the market --> On up days the stock should be still bearly hold =

its price.
Then you got a great candidate. Limit your Exposure with a stop loss.

Andreas

> -----Urspr=FCngliche Nachricht-----
> Von:	Ian [SMTP:ianstm@shaw.ca]
> Gesendet am:	Friday, February 15, 2002 5:13 PM
> An:	canslim@lists.xmission.com
> Betreff:	Re: [CANSLIM] Lack of Buy Candidates
>
> I find it almost absurd that WON discourages shorting. Almost all of=20
WON's ideas appear to have originated with Jesse Livermore, who made the =

bulk of his money on the short side. The rules for selling a big CANSLIM =

winner make for perfect short candidates. Although selling a failed=20
breakout as it returns into its base is NOT typically a good short=20
candidate. JMHO.
>
> Ian
>
>
>
> ----- Original Message -----
>   From: Rob Miller
>   To: canslim@lists.xmission.com
>   Sent: Friday, February 15, 2002 6:40 AM
>   Subject: [CANSLIM] Lack of Buy Candidates
>
>
>   Even if we have a FTD from here, I see few stocks worth buying.=20
 However, my short list is overflowing.  The only moderately attractive=20
stocks I see on the long side are those already in an uptrend that are=20
riding their lower channel.
>
>   Is shorting considered off limits for this list?  I know that WON=20
discourages it, but he also claimed to make good money from shorts in=20
HTMMIS.  As I understand it, he discourages it as a medium for the =
masses,=20
nor necessarily for everyone.
>
>   Rob
>  << Datei: ATT00001.htm >> 

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