Re: [CANSLIM] Updated CANSLIM hunting list

From: Spencer48@aol.com
Subject: Re: [CANSLIM] Updated CANSLIM hunting list
Date: Tue, 23 Jul 2002 16:09:21 EDT

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Ernie & Katherine:

     Ernie, I'm sorry to see you leave the list.  However, I understand why 
you intend to be not even a "lurker".  Canslim is not for shorts, and its 
formula relies on the Market being a bull before buying stocks.  And if the 
Market.-according to your calculations-won't  rally till March/03....  
     But I do want to thank you for your responses when I had Elliot Wave 
queries.  I appreciate the replies, and I did re-learn and learn things about 
Wave analysis which I had forgotten or neglected to take to heart.   

      Katherine, I know WON says to make a shopping list of stocks that look 
good during bear markets-but this bear has been going on nearly 3 years.  
     Moreover, how can anyone trust the earning, sales, and cash-flow figures 
on which EPS and RS are based (not to mention trust annual and quarterly 
earnings and sales) until at least after  August 14th (when CEOs and CFOs 
must certify their figures or face jail time).
     I've had a shopping list for nearly 3 years, and the stocks in the list 
keep changing (I've removed from my list charts that show stocks which have 
fallen below their 200 DMA; or charts whose earnings in the current quarters 
are less than WON-ish; or charts whose RS's are plummeting).  
     As an example of my less than sanguine attitude: IBD's screen today 
includes stocks that have increased earnings the last few quarters.  No 
doubt, some of those stocks will be deleted next quarter-and the quarter 
after that, and the quarter...etc.  
     Excuse my rant, I know your right:  Compiling a shopping list of nice 
stocks now is a good idea.  I'll not only know what stocks to look at (when 
the Bull wakes up), but during this interim, looking at those stock's charts 
gives me the opportunity to hone my technical skills.  But the passage:  
"When Mr. M is ready to shine..." was just too much.

jans


In a message dated 7/23/2002 10:45:03 AM Eastern Daylight Time, 
kmalm@earthlink.net writes:

<< Now's the best time of all to get your shopping lists ready. With so few 
stocks to evaluate, you can use your time for effective due diligence. When 
Mr. M is ready to shine, you'll be ready with your short list. At the market 
bottom in '98, very few stocks made the cut, among them? AOL and YHOO, both 
of which had great runs over the next couple of years. >>

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