Re: [CANSLIM] industry groups continued

From: "Gary A. Snyder" <gas175k@hotmail.com>
Subject: Re: [CANSLIM] industry groups continued
Date: Tue, 19 Feb 2002 06:48:18 -0500

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Sorry: If I had read the rest of the emails I would have not writen this 
rehash gas175


>From: "Gary A. Snyder" <gas175k@hotmail.com>
>Reply-To: canslim@lists.xmission.com
>To: canslim@lists.xmission.com
>Subject: [CANSLIM] industry groups continued
>Date: Tue, 19 Feb 2002 06:15:27 -0500
>
>
>John and group:
>I just KNOW the importance of ig. moves I just can't track igs.
>If you want more examples I'm sure I can find hundreds. I used Computer
>software/finc. because I owned EPIQ. and when someone brought up EPIQ. it
>lit me up. Well another is semiconductor manufactures even when most of the
>companies in that group expect to be down 20% to 50% from last years
>earnings and were over bought big time from their target price they still
>went up when the ig. went up or in other words when the market trend was in
>favor for tech a few months ago.
>Just look at the charts of the stocks that I named in that industrial group
>of computer software/finc. Admittedly they did not all go up as much or
>quite at the same time but at this point I would have loved to been in any
>or all of those stocks. EPIQ specializes in bankruptcy software to the
>banking industry while BARZ offers software to the banking industry - EPIQ
>would seem to thrive in a recession and BARZ in a health economy - they 
>both
>heard the siren song of a ig. going up. The example was to show the effect
>of ig. movement on good stocks in that ig. not great stocks just good
>stocks. Not one or two leaders but all of the companies in the example I
>gave and I bet a lot more. I agree in the CANSLIM methodology one 
>sacrifices
>much of a igs. and stocks price move up hoping that the ig. will stay high
>and that the companies will continue to go up. In this environment that
>scenario is a risky undertaking. This is why WON says only in a BULL 
>market.
>Risky because betting the ig. will stay up for any length of time is a poor
>bet and that any stock will continue to advance is also unlikely. I am
>finding it very easy to identifying  stocks that extended over their 50 day
>average and just KNOW they are going to correct. Example: FCN. This is from
>memory:  FCN was making a very nice move up but I saw it got way up from 
>its
>50 day average and I thought: This company is ripe for a correction. Bam
>down it goes.
>OK: So what.
>I want to catch igs. on the way up because I invest long. I think this
>mythology is not quite WON but we should all be on vacation per WON in this
>market. I track the daily movements of the ig. for the stocks I own and
>can't make any sense of it. The ig. goes up, my stock goes down, ig. goes
>down my stock goes up, some igs. go up or down 20-40 places in one day!!!,
>but feel this is the environment where igs make big moves up (long) or down
>(short) and I can make money if I can identify the ig. and not stay in any
>one ig. for too long a time to cut risk but at this point the only
>observation I can make is WOW: Look at all the computer ig.s in the top
>ten(6 on Jan 15, 2002). In other words big surprise, and Feb.15,2002 Wow:
>only three: 50% chance I could have guessed wrong.
>  gas175
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