Go to Jeff Salisbury LWGate Home Page.From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] Updated CANSLIM hunting list
Date: Tue, 23 Jul 2002 18:35:25 -0400
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Katherine:
Great points. May I add a reminder for us all that's clearly to your
point? When I attended my first WON Seminar, the term "tech stocks" did
not exist!!
The concept of "dynamic" watch lists, as laborious as it sounds, is bang
on. I mentioned once before how frustrated I am at the fact my
favorites are here today gone tomorrow; that I for all intents and
purposes don't have much of a list at this time for that reason.
Dynamic it is...so let's get rollin'!
Duke
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Katherine Malm
Sent: Tuesday, July 23, 2002 4:37 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Updated CANSLIM hunting list
Hi jans,
I suppose that I'll have to refer back to something I mentioned on the
list late last year, and that is, I still believe that we are in for
10-15 years of sideways market, similar to the '64-'80 period. If that
is so, then we are in for a period of upwaves and downwaves, with little
progress being made in the market averages overall during those years.
But I believe that history proves that the stocks that go up are those
with the core CANSLIM characteristics of sustainable growth and superior
fundamentals. The difference between what we saw in the Great Bull
market of the 90's and what we'll see upcoming, however, is that,
because equities will not be the best investments based on *average*
returns, there will be less money in the equities markets and therefore
it will tend to rotate from one winner to the next more quickly. For
that, CANSLIM gives us excellent and simple tools to find what is
working *at the moment*, then gives us disciplined rules to follow for
exit when the move is over. Bottom line is that you will never be able
to create an uber-list of stocks that will give you more than an
intermediate-term ride, but instead, will always have to refresh that
list with new blood. Even during the Big Bear, there have been countless
examples of stocks with growth characteristics that have done very well
during the upwaves, but fear, ennui, lack of discipline, etc. have kept
investors from taking advantage of those moves. Bottom line? Our mining
techniques have to be dynamic, lists must be constantly refreshed, and
technicals should always lead the way to the winners. Something that I
think often gets lost in the noise of CANSLIM is that fundamentals will
always lag technicals, and so, in my mind, carry far less weight in the
initial mining, and for the most part carry no weight in entry/exit
points. That may seem like I'm contradicting what I said earlier about
selecting stocks with sustainable growth and superior fundamentals and
it isn't intended that way. Instead, I'm simply saying that we should
not *start* with fundamentals to find good quality candidates. Lastly,
as we've discussed before on th list, its highly likely that the kinds
of companies that will demonstrate growth characteristics in the
upcoming years may be mundane businesses, so best to have mining
techniques that don't focus you exclusively on tech stocks.
Katherine
PS....best way to take advantage of a sideways market is to trade only
in the direction of the prevailing wave and complement your long
strategy with a good shorting strategy (for cash accounts) for
downwaves (or use Rydex contra-funds in tax advantaged accounts).
Hopefully, everybody has been using the last few years to perfect those
shorting strategies. Of course, that's not CANSLIM, so can't be
discussed here!
- ----- Original Message -----
From: Spencer48@aol.com
To: canslim@lists.xmission.com
Sent: Tuesday, July 23, 2002 3:09 PM
Subject: Re: [CANSLIM] Updated CANSLIM hunting list
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. >>
- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
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<HTML><HEAD>
<META HTTP-EQUIV=3D"Content-Type" CONTENT=3D"text/html; =
charset=3Dus-ascii">
<TITLE>Message</TITLE>
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<BODY bgColor=3D#ffffff>
<DIV><SPAN class=3D703092922-23072002><FONT=20
face=3DArial>Katherine:</FONT></SPAN></DIV>
<DIV><SPAN class=3D703092922-23072002><FONT =
face=3DArial></FONT></SPAN> </DIV>
<DIV><SPAN class=3D703092922-23072002><FONT face=3DArial>Great =
points. May I=20
add </FONT></SPAN><SPAN class=3D703092922-23072002><FONT =
face=3DArial>a=20
reminder for us all that's clearly to your point? When I =
attended my=20
first WON Seminar, the term "tech stocks" did not exist!! =20
</FONT></SPAN></DIV>
<DIV><SPAN class=3D703092922-23072002><FONT =
face=3DArial></FONT></SPAN> </DIV>
<DIV><SPAN class=3D703092922-23072002><FONT face=3DArial>The concept of =
"dynamic"=20
watch lists, as laborious as it sounds, is bang on. I mentioned =
once=20
before how frustrated I am at the fact my favorites are here today gone=20
tomorrow; that I for all intents and purposes don't have much of a list =
at this=20
time for that reason.</FONT></SPAN></DIV>
<DIV><SPAN class=3D703092922-23072002><FONT =
face=3DArial></FONT></SPAN> </DIV>
<DIV><SPAN class=3D703092922-23072002><FONT face=3DArial>Dynamic it =
is...so let's=20
get rollin'!</FONT></SPAN></DIV>
<DIV><SPAN class=3D703092922-23072002><FONT =
face=3DArial></FONT></SPAN> </DIV>
<DIV><SPAN class=3D703092922-23072002><FONT =
face=3DArial>Duke</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV></DIV>
<DIV class=3DOutlookMessageHeader lang=3Den-us dir=3Dltr =
align=3Dleft><FONT=20
face=3DTahoma size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]=20
<B>On Behalf Of </B>Katherine Malm<BR><B>Sent:</B> Tuesday, July 23, =
2002 4:37=20
PM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> Re: =
[CANSLIM]=20
Updated CANSLIM hunting list<BR><BR></FONT></DIV>
<DIV>Hi jans,</DIV>
<DIV> </DIV>
<DIV>I suppose that I'll have to refer back to something I mentioned =
on the=20
list late last year, and that is, I still believe that we are in for =
10-15=20
years of sideways market, similar to the '64-'80 period. If that is =
so, then=20
we are in for a period of upwaves and downwaves, with little progress =
being=20
made in the market averages overall during those years. But I believe =
that=20
history proves that the stocks that go up are those with the core =
CANSLIM=20
characteristics of sustainable growth and superior fundamentals. The=20
difference between what we saw in the Great Bull market of the 90's =
and what=20
we'll see upcoming, however, is that, because equities will not be the =
best=20
investments based on *average* returns, there will be less money in =
the=20
equities markets and therefore it will tend to rotate from one winner =
to the=20
next more quickly. For that, CANSLIM gives us excellent and simple =
tools to=20
find what is working *at the moment*, then gives us disciplined rules =
to=20
follow for exit when the move is over. Bottom line is that you will =
never be=20
able to create an uber-list of stocks that will give you more than an=20
intermediate-term ride, but instead, will always have to refresh that =
list=20
with new blood. Even during the Big Bear, there have been countless =
examples=20
of stocks with growth characteristics that have done very well during =
the=20
upwaves, but fear, ennui, lack of discipline, etc. have kept investors =
from=20
taking advantage of those moves. Bottom line? Our mining techniques =
have to be=20
dynamic, lists must be constantly refreshed, and technicals should =
always lead=20
the way to the winners. Something that I think often gets lost in the =
noise of=20
CANSLIM is that fundamentals will always lag technicals, and so, in my =
mind,=20
carry far less weight in the initial mining, and for the most part =
carry no=20
weight in entry/exit points. That may seem like I'm contradicting what =
I said=20
earlier about selecting stocks with sustainable growth and superior=20
fundamentals and it isn't intended that way. Instead, I'm simply =
saying that=20
we should not *start* with fundamentals to find good quality =
candidates.=20
Lastly, as we've discussed before on th list, its highly likely that =
the kinds=20
of companies that will demonstrate growth characteristics in the =
upcoming=20
years may be mundane businesses, so best to have mining techniques =
that don't=20
focus you exclusively on tech stocks.</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<DIV> </DIV>
<DIV>PS....best way to take advantage of a sideways market is to trade =
only in=20
the direction of the prevailing wave and complement your long strategy =
with a=20
good shorting strategy (for cash accounts) for downwaves (or use =
Rydex=20
contra-funds in tax advantaged accounts). Hopefully, everybody has =
been using=20
the last few years to perfect those shorting strategies. Of course, =
that's not=20
CANSLIM, so can't be discussed here!</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=3DSpencer48@aol.com=20
href=3D"mailto:Spencer48@aol.com">Spencer48@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> Tuesday, July 23, 2002 =
3:09=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Updated CANSLIM=20
hunting list</DIV>
<DIV><BR></DIV>Ernie & =
Katherine:<BR><BR> Ernie,=20
I'm sorry to see you leave the list. However, I understand why =
<BR>you=20
intend to be not even a "lurker". Canslim is not for shorts, =
and its=20
<BR>formula relies on the Market being a bull before buying =
stocks. =20
And if the <BR>Market.-according to your calculations-won't =
rally till=20
March/03.... <BR> But I do want to =
thank you=20
for your responses when I had Elliot Wave <BR>queries. I =
appreciate=20
the replies, and I did re-learn and learn things about <BR>Wave =
analysis=20
which I had forgotten or neglected to take to heart. =20
<BR><BR> Katherine, I know WON says to =
make a=20
shopping list of stocks that look <BR>good during bear markets-but =
this bear=20
has been going on nearly 3 years. <BR> =
Moreover, how can anyone trust the earning, sales, and cash-flow =
figures=20
<BR>on which EPS and RS are based (not to mention trust annual and =
quarterly=20
<BR>earnings and sales) until at least after August 14th (when =
CEOs=20
and CFOs <BR>must certify their figures or face jail=20
time).<BR> I've had a shopping list for =
nearly 3=20
years, and the stocks in the list <BR>keep changing (I've removed =
from my=20
list charts that show stocks which have <BR>fallen below their 200 =
DMA; or=20
charts whose earnings in the current quarters <BR>are less than =
WON-ish; or=20
charts whose RS's are plummeting). =
<BR> As an=20
example of my less than sanguine attitude: IBD's screen today =
<BR>includes=20
stocks that have increased earnings the last few quarters. No=20
<BR>doubt, some of those stocks will be deleted next quarter-and the =
quarter=20
<BR>after that, and the quarter...etc. =
<BR> =20
Excuse my rant, I know your right: Compiling a shopping list =
of nice=20
<BR>stocks now is a good idea. I'll not only know what stocks =
to look=20
at (when <BR>the Bull wakes up), but during this interim, looking at =
those=20
stock's charts <BR>gives me the opportunity to hone my technical=20
skills. But the passage: <BR>"When Mr. M is ready to =
shine..."=20
was just too much.<BR><BR>jans<BR><BR><BR>In a message dated =
7/23/2002=20
10:45:03 AM Eastern Daylight Time, <BR><A=20
href=3D"mailto:kmalm@earthlink.net">kmalm@earthlink.net</A>=20
writes:<BR><BR><< Now's the best time of all to get your =
shopping=20
lists ready. With so few <BR>stocks to evaluate, you can use your =
time for=20
effective due diligence. When <BR>Mr. M is ready to shine, you'll be =
ready=20
with your short list. At the market <BR>bottom in '98, very few =
stocks made=20
the cut, among them? AOL and YHOO, both <BR>of which had great runs =
over the=20
next couple of years. >><BR><BR>-<BR>-To =
subscribe/unsubscribe, email=20
"<A =
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
=20
the email body, write "subscribe canslim" or<BR>-"unsubscribe=20
canslim". Do not use quotes in your=20
email.</BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
- ------=_NextPart_000_0008_01C23277.B902A310--
- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim". Do not use quotes in your email.
Next Article (by Author): RE: [CANSLIM] Updated CANSLIM hunting list "Duke Miller"
Previous Article (by Author): Re: [CANSLIM] Market psychology "Bill Triffet"
Top of Thread: Re: [CANSLIM] Updated CANSLIM hunting list "Tom Worley"
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