Go to Jeff Salisbury LWGate Home Page.From: "Al French" <alfrench@mindspring.com>
Subject: [CANSLIM] Scanning for shorts
Date: Sat, 16 Feb 2002 12:21:38 -0500
Next Article (by Author): Re: AW: [CANSLIM] Lack of Buy Candidates "Katherine Malm"
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<What is your technique for selecting shorts that have a good chance of =
being profitable(using TC2000)?>
A shorting strategy that works for me is to scan for large gaps down. =
If the gap is a breakaway gap from a climax top or in an established =
downtrend, I put it in a watch list and watch for a retracement. If the =
retracement occurs but fails to fill the gap and rounds over, that is a =
low-risk entry point that can be entered with a close protective stop at =
a resistance level (the peak of the retracement).
There are plenty of these set-ups. Some recent examples of this =
pattern:
CMCSK 12/20, CEPH 1/15, EXTR 2/4, CVC 2/5, CA 2/6, and ELTE 2/11. My =
favorite is WMI; Feb 30 puts bought on Jan 8 were up 640% this week; a =
plain short would have netted 24% in the same period. Also, check Enron =
(ENE) in March, 2001. Yes, I did it! But I bailed and took my profit in =
April. ;-(
Al French
----- Original Message -----=20
From: Lonnie Brauner=20
To: canslim@lists.xmission.com=20
Sent: Friday, February 15, 2002 9:18 PM
Subject: Re: [CANSLIM] Lack of Buy Candidates
" There was no shortage of stocks to short in TC2000 and candlesticks. =
"
What is your technique for selecting shorts that have a good chance of =
being profitable(using TC2000).
Lonnie
----- Original Message -----=20
From: Dan Forant=20
To: canslim@lists.xmission.com=20
Sent: Friday, February 15, 2002 8:03 PM
Subject: Re: [CANSLIM] Lack of Buy Candidates
Of course it's absurd. If anyone's been in the market for the past =
year and hasn't shorted and made $$, they are either very lucky or far =
better than the average investor. There was no shortage of stocks to =
short in TC2000 and candlesticks.=20
L8ter
DanF
----- Original Message -----=20
From: Ian=20
To: canslim@lists.xmission.com=20
Sent: Friday, February 15, 2002 11:13 AM
Subject: Re: [CANSLIM] Lack of Buy Candidates
I find it almost absurd that WON discourages shorting. Almost all =
of 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 breakout as it returns into its base is NOT typically a good =
short candidate. JMHO.
Ian
----- Original Message -----=20
From: Rob Miller=20
To: canslim@lists.xmission.com=20
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. =
However, my short list is overflowing. The only moderately attractive =
stocks I see on the long side are those already in an uptrend that are =
riding their lower channel.
Is shorting considered off limits for this list? I know that =
WON discourages it, but he also claimed to make good money from shorts =
in HTMMIS. As I understand it, he discourages it as a medium for the =
masses, nor necessarily for everyone. =20
Rob =20
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<META content=3D"MSHTML 6.00.2712.300" name=3DGENERATOR>
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial size=3D2>
<DIV><FONT face=3DArial size=3D2><What is your technique for =
selecting shorts=20
that have a good chance of being profitable(using =
TC2000)?></FONT></DIV>
<DIV> </DIV>
<DIV>A shorting strategy that works for me is to scan for large gaps =
down. =20
If the gap is a breakaway gap from a climax top or in an established =
downtrend,=20
I put it in a watch list and watch for a retracement. If the =
retracement=20
occurs but fails to fill the gap and rounds over, that is a low-risk =
entry point=20
that can be entered with a close protective stop at a resistance level =
(the peak=20
of the retracement).</DIV>
<DIV> </DIV>
<DIV>There are plenty of these set-ups. Some recent examples of =
this=20
pattern:</DIV>
<DIV> </DIV>
<DIV>CMCSK 12/20, CEPH 1/15, EXTR 2/4, CVC 2/5, CA 2/6, and ELTE =
2/11. My=20
favorite is WMI; Feb 30 puts bought on Jan 8 were up 640% this =
week; a=20
plain short would have netted 24% in the same period. Also, check =
Enron=20
(ENE) in March, 2001. Yes, I did it! But I bailed and took my profit in =
April.=20
;-(</DIV>
<DIV> </DIV>
<DIV>Al French</DIV></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=3Dlonnie@hal-pc.org href=3D"mailto:lonnie@hal-pc.org">Lonnie =
Brauner</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@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, February 15, 2002 =
9:18=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Lack of =
Buy=20
Candidates</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3D"Comic Sans MS" color=3D#008000 =
size=3D2><STRONG>"</STRONG><FONT=20
face=3DArial color=3D#000000> There was no shortage of stocks to short =
in TC2000=20
and candlesticks. "</FONT></FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>What is your technique for selecting =
shorts that=20
have a good chance of being profitable(using TC2000).</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Lonnie</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #008000 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>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, February 15, =
2002 8:03=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Lack =
of Buy=20
Candidates</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Of course it's absurd. If anyone's =
been in the=20
market for the past year and hasn't shorted and made $$, they are =
either=20
very lucky or far better than the average investor. There was no =
shortage of=20
stocks to short in TC2000 and candlesticks. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV>L8ter<BR>DanF</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=3Dianstm@shaw.ca href=3D"mailto:ianstm@shaw.ca">Ian</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> Friday, February 15, =
2002 11:13=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Lack =
of Buy=20
Candidates</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>I find it almost absurd that WON discourages =
shorting.=20
Almost all of WON's ideas appear to have originated with Jesse =
Livermore,=20
who made the bulk of his money on the short side. The rules for =
selling a=20
big CANSLIM winner make for perfect short candidates. Although =
selling a=20
failed breakout as it returns into its base is NOT typically a =
good short=20
candidate. JMHO.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>Ian</FONT></DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV>----- Original Message ----- </DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Drmiller2@carolina.rr.com=20
href=3D"mailto:rmiller2@carolina.rr.com">Rob Miller</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> Friday, February =
15, 2002=20
6:40 AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Lack =
of Buy=20
Candidates</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Even if we have a FTD from =
here, I see few=20
stocks worth buying. However, my short list is =
overflowing. =20
The only moderately attractive stocks I see on the long side are =
those=20
already in an uptrend that are riding their lower =
channel.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT><FONT face=3DArial=20
size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Is shorting =
considered off limits=20
for this list? I know that WON discourages it, but he also =
claimed=20
to make good money from shorts in HTMMIS. As I understand =
it,=20
he discourages it as a medium for the masses,=20
nor necessarily for everyone. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Rob =20
=
</FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY><=
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Next Article (by Author): Re: AW: [CANSLIM] Lack of Buy Candidates "Katherine Malm"
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