Re: [CANSLIM] Today's IBD "Big Picture" comments...

From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] Today's IBD "Big Picture" comments...
Date: Thu, 2 May 2002 09:12:12 -0400

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Tom:
In my trading during the past several months, I have been through a series
of issues that appeared to fit the CANSLIM criteria, then were hit with
adverse overnight or early morning news. Result was a drop of 30 to 40% in
price in pre-opening trade (no opportunity to contain loss to under 7%), and
no significant recovery afterwards. CACI is a recent  example.
My other gainers were of smaller magnitude. Since it takes many more small
gains to equal one big loser, net result was not good for me. Thus, I
concluded that taking smaller gains QUICKLY and moving on is more reliable
in "this market".
What I mean by "this market" is that Monday's hero is often Thursday's goat.


- ----- Original Message -----
From: "Tom Worley" <stkguru@bellsouth.net>
To: <canslim@lists.xmission.com>
Sent: Wednesday, May 01, 2002 7:19 PM
Subject: Re: [CANSLIM] Today's IBD "Big Picture" comments...


> I disagree, Winston
>
> I did very well in 2001 applying my version of CANSLIM, and I doubt anyone
> would call that a bull market.
>
> I did it with buy and hold throughout the year, I doubt I sold any
position
> less than a month after purchase, some were held the entire year.
>
> Tom Worley
> stkguru@bellsouth.net
> AIM: TexWorley
> ----- Original Message -----
> From: "Winston Little" <wlittle1@peoplepc.com>
> To: <canslim@lists.xmission.com>
> Sent: Wednesday, May 01, 2002 12:44 PM
> Subject: Re: [CANSLIM] Today's IBD "Big Picture" comments...
>
>
> My observations:
> - true CANSLIM works well in a "bull market'.
> - ALL markets have issues which are rising and some which are falling. (In
> bull market more rise than fall and the life of a rise is very long).
> - we are currently in a rotational market, with the life of a trend
varying
> from one or two days to at most one month
> - in this era only the fast survive, a good example is that of OVER during
> the past week.
> The quickest way to lose money is buy and hold . It is similar to grabbing
a
> handful of smoke and hoping to keep it.
>
>
> ----- Original Message -----
> From: "Bill Triffet" <btriffet@earthlink.net>
> To: "canslim" <canslim@lists.xmission.com>
> Sent: Wednesday, May 01, 2002 12:12 PM
> Subject: [CANSLIM] Today's IBD "Big Picture" comments...
>
>
> > Well friends, it seems that today's IBD confirms what I've thought about
> the
> > M in canslim - It's not necessarily based on the readings of the three
> major
> > market indexes ( a big departure from HTMMIS).
> >
> > I'm paraphrasing the last three paragraphs of "The Big Picture"(there
are
> > stiff copyright disclaimers at IBD):
> >
> > It will take a few days to see if the rotation BACK into the Dow, Naz,
and
> > S&P is valid. There should be a big move in heavier volume by the end of
> the
> > week to confirm it.
> >
> > It goes on to say it's a "nonissue" for growth investors since small and
> > mid-cap stocks along with medical, consumer and defense are doing well
> > despite the big averages. If they hold up, it says, the major averages
> could
> > improve.
> >
> > Also mentions "careful trading" with tight loss cutting is key.
> >
> > My point? IMHO, IBD is marketed for many types of investors. Pure
canslim
> > (if there is such a thing) is just one of them.
> >
> > I think perhaps it's time for me to look at growth investing with a
> canslim
> > approach. I'm starting to see several here have done this to great
success
> > (though with very close watching). Including things such as a lower but
> > advancing RS as opposed to just a high rating and not be afraid to jump
> into
> > stocks in an upwards trending sector though the market is flat or down
IF
> > they have good fundies.
> >
> > Several times this and last year I saw stocks and groups moving ahead
but
> > stayed out due to the major indexes downward trend. Comments?
> >
> > Btw, for Fred, it suggests there's heavy distribution out of gold and
> > precious metals by investors.
> >
> > Bill Triffet
> >
> >
> >
> >
> >
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>
>
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