Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@netside.net>
Subject: Re: AW: [CANSLIM] Lack of Buy Candidates
Date: Sat, 16 Feb 2002 16:34:14 -0500
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Your memory is pretty good, altho I consider buying small caps as much closer to classic CANSLIM rules for "S" than IBD or WON currently pushes. I wasn't losing money during the roaring bulls, just not making what I could. But that was not the fault of my application of CANSLIM, it was a direct consequence of total neglect of my portfolio due dedication and ho= urs spent on my day job. But even with total neglect, I still managed about 1= 2% or so without trading, so at least better than a money market. You are correct also that EPIQ was a major contributor to my profits in 2001, and I expect it to continue contributing in 2002. But I finished th= e year with every stock I owned up for the year, and with minimal trading. = I only bought two new ones in 2001, the rest I had owned from prior years. = So far in 2002, I have added 6 new ones, and sold one (merger announced). Al= tho three of the new ones are presently down, I am still up a little overall. And having fun. Tom Worley stkguru@netside.net AIM: TexWorley - ----- Original Message ----- From: "esetser" <esetser@covad.net> To: <canslim@lists.xmission.com> Sent: Saturday, February 16, 2002 11:01 AM Subject: Re: AW: [CANSLIM] Lack of Buy Candidates Be careful here, Tom has his own special breed of CANSLIM, and it seems that his returns have NOT been a good indicator of average returns in the group. Unless I'm mistaken, Tom was losing money or breaking even back i= n the roaring bull, so maybe it was just his turn!! Tom does at least the following different from my approach (just from memory): 1 - Microcaps only (below the minimum recommended by WON) (S?) 2 - Buys in the base before the breakout (Needs to because of 1) 3 - Doesn't use Industry Group Strength as a leader/laggard indicator (I) 4 - Buys in all markets (M) >From my perspective, he violates the normal rules for S, I, and M. However, Tom does admit to this, and doesn't even generally post his selections due to these variations. Given the differences, I think it should be expected that Tom's performan= ce over a given year will vary from many of us. (And there is that one stoc= k that has appreciated several times his original investment that is impacting the results too!) One other note. From my perspective, Tom's value to the group is his willingness to take the time to review most anyone's suggestions and selections and give great detail in his responses. His general approach may not follow CANSLIM exactly, but his postings to the group do followin= g WON quite closely. He is our master educator on the technique, and gives= a lot of time and effort to the group. FWIW, I ended up 2001 with about a 13% loss and am down about 6% more thi= s year so far. Presently, I am only 25% invested with one position. I am not really responding on the group much, since I do not feel I have the experience to short, and I am waiting for "M" to clear up before new purchases. At 11:36 AM 2/16/02 +0100, you wrote: >I think Tom bend only one rule --> stay out of the market if there is a >downtrend in the overall market. > >But as I said, if you choose small caps and or IGs that are going up, no >problem making money on the long side. >Just look on the builders or on the gold stocks latley ... > >BUT NEVER, NEVER buy stocks when the market and the IG is down. >I have not seen one example where a member of the group does not break d= own >then (besides its a small cap) as well. > >Some IGs are just setting up a bull market for its members no matter wha= t >the market is doing. > >> -----Urspr=FCngliche Nachricht----- >> Von: Tom Worley [SMTP:stkguru@netside.net] >> Gesendet am: Saturday, February 16, 2002 6:19 AM >> An: canslim@lists.xmission.com >> Betreff: Re: [CANSLIM] Lack of Buy Candidates >> >> While I routinely violate CANSLIM rules, nonetheless my entire process= is >heavily based in CANSLIM. And I netted 76% for the full year, so yeah, I >made a net profit. >> >> Tom Worley >> stkguru@netside.net >> AIM: TexWorley >> ----- Original Message ----- >> From: David Squires >> To: canslim@lists.xmission.com >> Sent: Saturday, February 16, 2002 12:11 AM >> Subject: Re: [CANSLIM] Lack of Buy Candidates >> >> >> haven't shorted in years, fully invested year round, made lots of $$ >last year, and profitable so far this year (including my fully margined >account). >> >> >>fully invested year round, made lots of $$ last year<< >> >> You were fully invested last year long and made a net profit? You >better call George Soros! BTW, is this even remotely CANSLIM. >> >> DSquires >> ----- Original Message ----- >> From: Tom Worley >> To: canslim@lists.xmission.com >> Sent: Friday, February 15, 2002 10:47 PM >> Subject: Re: [CANSLIM] Lack of Buy Candidates >> >> >> haven't shorted in years, fully invested year round, made lots of = $$ >last year, and profitable so far this year (including my fully margined >account). >> >> Tom Worley >> stkguru@netside.net >> AIM: TexWorley >> ----- Original Message ----- >> From: Dan Forant >> To: canslim@lists.xmission.com >> Sent: Friday, February 15, 2002 8:03 PM >> Subject: Re: [CANSLIM] Lack of Buy Candidates >> >> >> Of course it's absurd. If anyone's been in the market for the pa= st >year and hasn't shorted and made $$, they are either very lucky or far >better than the average investor. There was no shortage of stocks to sho= rt >in TC2000 and candlesticks. >> >> L8ter >> DanF >> ----- Original Message ----- >> From: Ian >> To: canslim@lists.xmission.com >> 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 ----- >> 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 buyi= ng. > 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 tha= t >WON discourages it, but he also claimed to make good money from shorts i= n >HTMMIS. As I understand it, he discourages it as a medium for the masse= s, >nor necessarily for everyone. >> >> Rob >> << Datei: ATT00014.htm >> - - - -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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