Go to Jeff Salisbury LWGate Home Page.From: Neal Frankle <nfrankle@pacbell.net>
Subject: Re: [CANSLIM] The Market
Date: Fri, 26 Apr 2002 19:09:25 -0700
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Well said Ian
----- Original Message -----=20
From: Ian=20
To: canslim@lists.xmission.com=20
Sent: Friday, April 26, 2002 6:54 PM
Subject: Re: [CANSLIM] The Market
"something that seems self evident to me"
I live in Canada where the love affair with tech seems to be every bit =
as strong as in the USA. The problem is, there are only a handful of big =
tech names here to choose from. Ever since late October 2000, when it =
took its first big haircut from $70 to $45, is has been 'self evident' =
to almost everyone around me that it was only a matter of time before NT =
was bid up high again - since telephones/Internet weren't going away, =
and all that insitutional money had to go somewhere. It keeps being =
'self evident' to everyone ... every successive time it gets cut in =
half.
I've been watching someone average down with each successive haircut - =
in stunned awe at their ability to rationalize away their massive losses =
- - in spite of the fact that every time they bought it, my advice was =
sought first, and I recommended shorting it.
IMHO, the only thing in the stock market that is 'self evident' is a =
strong trend that is already in place. Playing the contrarian against =
those trends has always been an incredibly high risk endeavour.
Ian
----- Original Message -----=20
From: Chazmoore@aol.com=20
To: canslim@lists.xmission.com=20
Sent: Friday, April 26, 2002 5:19 PM
Subject: [CANSLIM] The Market
I belong to two investment clubs and both follow CANSLIM, which =
means we have done a lot of talking but not much investing for the last =
two years. We start our meetings with a brief discussion of the markets, =
and as you might expect, the message today is not much different from =
what it was a year ago. However, I would like to get some feedback on =
something that seems self evident to me.=20
Clearly, the large cap stocks are doing poorly across the board =
while small/mid caps, and even Tom's favorites, the microcaps, are doing =
well in some sectors. The fact that the smaller stocks are doing well is =
now on every commentators tongue, and in every financial writers column. =
Meanwhile, the very large institutions stay on the sidelines because =
they really can't play the small fry.=20
For the investor who has a ten or more year investment horizon, this =
looks like an opportunity to buy some truly great companies at bargain =
prices. I am talking about creating a core group of stocks as a =
foundation for a diversified portfolio. It seems to me that once the =
market has turned up significantly, we can expect a trillion or more =
dollars to pour into the market. The Institutions will not be buying the =
stocks we discuss on this board. They will be buying Wal-Mart, =
Citigroup, Exxon-Mobil, General Electric, and other big hitters.=20
What do you think?=20
I wish I could participate but at my age I don't even buy green =
bananas.=20
Charley=20
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<DIV><FONT face=3DArial size=3D2>Well said Ian</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=3Dianstm@shaw.ca href=3D"mailto:ianstm@shaw.ca">Ian</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>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, April 26, 2002 =
6:54=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] The =
Market</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>"something that seems self evident to =
me"</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>I live in Canada where the love affair with tech =
seems to be=20
every bit as strong as in the USA. The problem is, there are only a =
handful of=20
big tech names here to choose from. Ever since late October 2000, when =
it took=20
its first big haircut from $70 to $45, is has been 'self evident' to =
almost=20
everyone around me that it was only a matter of time before NT was bid =
up high=20
again - since telephones/Internet weren't going away, and all that=20
insitutional money had to go somewhere. It keeps being 'self evident' =
to=20
everyone ... every successive time it gets cut in half.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>I've been watching someone average down with =
each=20
successive haircut - in stunned awe at their ability to rationalize =
away their=20
massive losses - in spite of the fact that every time they bought it, =
my=20
advice was sought first, and I recommended shorting =
it.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>IMHO, the only thing in the stock market that is =
'self=20
evident' is a strong trend that is already in place. Playing the =
contrarian=20
against those trends has always been an incredibly high risk=20
endeavour.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>Ian</FONT></DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV>
<BLOCKQUOTE=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=3DChazmoore@aol.com=20
href=3D"mailto:Chazmoore@aol.com">Chazmoore@aol.com</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, April 26, 2002 =
5:19=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] The =
Market</DIV>
<DIV><BR></DIV><FONT face=3Darial,helvetica><FONT size=3D2>I belong =
to two=20
investment clubs and both follow CANSLIM, which means we have done a =
lot of=20
talking but not much investing for the last two years. We start our =
meetings=20
with a brief discussion of the markets, and as you might expect, the =
message=20
today is not much different from what it was a year ago. However, I =
would=20
like to get some feedback on something that seems self evident to =
me.=20
<BR><BR>Clearly, the large cap stocks are doing poorly across the =
board=20
while small/mid caps, and even Tom's favorites, the microcaps, are =
doing=20
well in some sectors. The fact that the smaller stocks are doing =
well is now=20
on every commentators tongue, and in every financial writers column. =
Meanwhile, the very large institutions stay on the sidelines because =
they=20
really can't play the small fry. <BR><BR>For the investor who has a =
ten or=20
more year investment horizon, this looks like an opportunity to buy =
some=20
truly great companies at bargain prices. I am talking about creating =
a core=20
group of stocks as a foundation for a diversified portfolio. It =
seems to me=20
that once the market has turned up significantly, we can expect a =
trillion=20
or more dollars to pour into the market. The Institutions will not =
be buying=20
the stocks we discuss on this board. They will be buying Wal-Mart,=20
Citigroup, Exxon-Mobil, General Electric, and other big hitters.=20
<BR><BR>What do you think? <BR><BR>I wish I could participate but at =
my age=20
I don't even buy green bananas. <BR><BR>Charley</FONT>=20
</FONT></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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Next Article (by Date): RE: [CANSLIM] The Market "Fred Richards"
Previous Article (by Date): Re: [CANSLIM] The Market Ian
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