RE: [CANSLIM] Earnings Confidence

From: "David Taggart" <dctag@mavericktrading.com>
Subject: RE: [CANSLIM] Earnings Confidence
Date: Mon, 1 Jul 2002 17:47:44 -0600
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Well I would have to put in Reminisces of a Stock Operator, Winning on Wall
Street Zweig, Small-Cap dynamics Pradhuman, How to Trade in Stocks
Livermore, Fooled by Randomness Taleb, Education of a Speculator
Niederhoffer, Alchemy of Finance (the second and third time I had to re read
it because I didnt reall get it) Soros, Technical Analysis from the Schwager
on Futures series and Tech analysis of the Financial Markets by Murphy kinda
tie for my favorite Tech analysis books,  A Zebra in Lion Country Wagner.

BTW I would include the market wizard books and Darvas.  There are a lot of
good books on the market and unfortunately a lot of useless info along with
some plain old crap.  I might do some book reports here when I can get to
it.

Happy Trading,
David Taggart

P.S. If you ever see a book that you deem expensive but your local Borders
doesnt have it go ahead and do a special order at the bookstore.  It is a
little known fact that you get to browse and examine the book before you
decide if you even want it. If you dont want it it doesnt cost you a cent
and they keep it.
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of J. Lobatto
Sent: Monday, July 01, 2002 5:25 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Earnings Confidence


David,

At the risk of going off-topic again, what would you say are the other three
books in your top five trading books list?

PS- Not fair to mention Market Wizards or Darvas's book as they're on
everyone's list....
PPS- This is not completely off topic as MW has interviews with WON and
Ryan, while Darvas's system bears some similarities to CANSLIM.
- ----- Original Message -----
From: "David Taggart" <dctag@mavericktrading.com>
To: <canslim@lists.xmission.com>
Sent: Monday, July 01, 2002 5:35 PM
Subject: RE: [CANSLIM] Earnings Confidence


> My basic interpretation of GARP is the P/E should be 70% or less of the 3
> year growth rate.  Mark Boucher teaches some great stuff on this over at
> Tradingmarkets and in his book Hedge Fund Edge.  HTMMIS and Hedge Fund
Edge
> are easily in my top 5 trading books that I have read and I have read a
ton.
>
> Happy Trading,
> David Taggart
>
>
>
>
> --Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Hill, Ernie
> Sent: Monday, July 01, 2002 2:59 PM
> To: 'canslim@lists.xmission.com'
> Subject: RE: [CANSLIM] Earnings Confidence
>
>
> Congratulations! David you won I received your post about one second
before
> Gene's.
>
> Sorry Gene, aren't you losing another contest too? I really hate to
mention
> that one because I was pulling for you, but I am feeling a bit mischievous
> right now.
>
> E
>
>  -----Original Message-----
> From: David Taggart [mailto:dctag@mavericktrading.com]
> Sent: Monday, July 01, 2002 3:43 PM
> To: canslim@lists.xmission.com
> Subject: RE: [CANSLIM] Earnings Confidence
>
> GARP Growth At a Reasonable Price
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Mike Gibbons
> Sent: Monday, July 01, 2002 2:41 PM
> To: canslim@lists.xmission.com
> Subject: RE: [CANSLIM] Earnings Confidence
>
>
> David,
>
> Excuse my ignorance, but what's GARP?
>
> Aloha,
>
> Mike Gibbons
> Proactive Technologies, LLC
> http://www.proactech.com
>
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of David Taggart
> Sent: Monday, July 01, 2002 10:18 AM
> To: canslim@lists.xmission.com
> Subject: RE: [CANSLIM] Earnings Confidence
>
>
> I have found for about a year and a half that CANLSIM/GARP is a safe and
> reliable way to trade.  It really cuts down on the risk yet you still get
to
> catch a lot of the good moves such as homebuilders and REIT's.  Granted it
> is not strict CANSLIM but you can still use a lot of the concepts WON
> teaches.  I always thought David Ryans interview in Market Wizards made
> sense that after screening for eveything else go for the lowest P/E.  I
also
> wish that WON would teach more on the short side. The best gains I have
had
> have been on the short side the past year and a half.  CANSLIM criteria
are
> discriminating enought that if you apply most of them in reverse and then
> throw in a ton of debt you end up with some good shorts.  Oh well enough
of
> my soapbox.
>
>
> David Taggart
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Harvey Brion
> Sent: Monday, July 01, 2002 1:57 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] Earnings Confidence
>
>
> Good post, Jans.  I went to my back issues and dug out the Investor's
Corner
> you
> refer to.  It's the June 25th issue.  I'm going to follow your lead and
get
> more
> familiar with the SEC filings.
>
> In general, I've gotten more conservative, probably like most.  I'm paying
> more
> attention to the P/E than I ever have in the past, preferring <20.  I
guess
> that
> makes me a "value" CANSLIM investor.  I'm also weighting the cash flow
more
> than
> I have in the past to try to establish a correlation with earnings, i.e.,
> 20%
> higher than last year's EPS.  -Harvey
>
> Spencer48@aol.com wrote:
>
> > Katherine:
> >
> >      In a way the accounting frauds and scandals that have popped up
have
> > been useful to me-in this way:  I had never relied on SEC info before;
all
> my
> > fundamental info had been gleaned from DGO.  However, with earnings and
> even
> > cash-flow now being suspect-I go to the SEC page when analyzing a
> company's
> > stock that I wish to buy, to see what the company is doing and how it is
> > doing it. (About a week ago, IBD in Investors Corner printed a column on
> the
> > different types of  statements that companies are required to file with
> the
> > SEC-so I believe that IBD believes this sort of fundamental info is
> important
> > to apprise oneself of when analyzing a stock).
> >
> >      I suppose I use the "events" in a negative way to strengthen my
> buying
> > strategy, ie. if what I see on SEC seems different than what DGO prints
as
> to
> > the company's earnings or even what the chart is saying, I drop that
stock
> > from my watch-list.
> >
> >      As far as selling (an exit strategy),  I wouldn't buy a company in
> the
> > first place unless I felt comfortable with it.  So for the exit
strategy,
> I
> > generally will rely on WON's dictums regarding when to sell.
> >
> > jans
> >
> > In a message dated 7/1/2002 2:15:33 PM Eastern Daylight Time,
> > kmalm@earthlink.net writes:
> >
> > << I see the recent discussions of Anderson, WCOM, earnings confidence,
> etc.
> > to be of great importance in CANSLIM investing, less as a matter of
> "current
> > events" than in the sense that it impacts much of the core investing
> concepts
> > in CANSLIM.
> >
> >  I'm interested in finding out if and how this change in perception of
> > earnings measurement will or has had any affect on your CANSLIM mining,
> > entry, and/or exit strategies. If it has not yet had an effect, do you
> > believe that it should? In other words, how will you modify your
approach
> > based on these events? How do you use these events to strengthen your
> > strategies? >>
> >
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