RE: [CANSLIM] How are you choosing your stocks?

From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] How are you choosing your stocks?
Date: Fri, 26 Apr 2002 16:15:16 -0400

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Or maybe you should be doing what WON (and I) is (are) doing.  Relaxing
altogether.  

Duke

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Harvey Brion
Sent: Friday, April 26, 2002 12:29 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] How are you choosing your stocks?


Your answered your own question, Dimitri.  In your first post, you set
all the parameters at WON's minimums and you didn't get ANY candidates.
I've gone through this exercise myself.  When this happens you have to
relax SOME of the minimums until you get some candidates to look at
further.

I think Katherine is suggesting that you relax SEVERAL of the minimums.
Then you may find a candidate that looks better overall than one that
meets just one or two relaxed minimums.  Look for trends (rising RS,
GRS) and use your judgment to select the few BEST candidates to watch
for breakouts.

You develop minimums for a meaningful screen through personal
experience.  There's no one right answer for every person and for every
phase of the market.  As has been said here many times, CANSLIM provides
guidelines and it's a personal choice how you use them.  Some prefer to
stick to the "letter of the law" and miss some otherwise good candidates
along the way.  -Harvey

Dimitri Katsaros wrote:

> Hey Katherine,
>
> You state many good points. So then, as a "scout" for potential 
> stocks, one must still have minimums (which is what I thought WON was 
> stating, my mistake). How then does one develop minimums so that a 
> meaningful screen can be created (or can one?)
>
> Thank you
> Dimitri
>
> --- Katherine Malm <kmalm@earthlink.net> wrote:
> > Hi Dimitri,
> >
> > The contradiction *is* the point. Think of it this
> > way. Let's say that you are a scout for a
> > professional sports team and someone has given you
> > the following statistic:
> >
> > The average height of world class professional
> > athletes is 5'7"
> >
> > Let's say that as a result of that statistic that
> > you refuse to look at any athlete who is less than
> > 5'7." What does that mean? You have taken an average
> > and turned it into a minimum.
> >
> > Here's another example. Let's say that somebody
> > tells you that the batting average of professional
> > baseball players is 700 and that as a result you
> > refuse to look at any baseball player who has an
> > average of less than 700. You would say, of course
> > that's silly, because if I'm scouting for a team,
> > I'm looking for an athlete who has a well rounded
> > set of skills and/or has a set of skills that adds
> > value to the team as a whole. You may, as a result
> > of past studies determine that a baseball player who
> > has a batting average of less than 200 is
> > unacceptable, but you would not refuse to look at
> > them if they had all the requisite skills and a
> > batting average of 650.
> >
> > The point is that you have to look at the
> > preponderance of evidence for the stock and not
> > build your screens so tightly that you eliminate
> > excellent candidates just because they meet some
> > arbitrary minimum cut offs that are based on
> > *averages* for past winning stocks.
> >
> > Katherine
> >   ----- Original Message -----
> >   From: Dimitri Katsaros
> >   To: canslim@lists.xmission.com
> >   Sent: Friday, April 26, 2002 12:02 AM
> >   Subject: Re: [CANSLIM] How are you choosing your
> > stocks?
> >
> >
> >   Katherine,
> >
> >   This seems quite contradictory... if one cannot
> > sort
> >   according to the recommended minimums, then what
> > is
> >   the point of stating them and... what is the value
> > of
> >   the Daily Graphs Custom Screen Wizard?
> >
> >   Just learning as I go
> >   Dimitri Katsaros
> >
>
> =====
> Quiquid latine dictum sit altum viditur
>
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