Go to Jeff Salisbury LWGate Home Page.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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