Re: [CANSLIM] Follow Through Day

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] Follow Through Day
Date: Sat, 27 Jul 2002 21:12:27 -0400

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agree, Scott, one of the qualities we should be looking for with a FTD is a
growing number of CANSLIM style stocks showing the development of
constructive bases. I just don't see that happening right now, especially
with the few stocks still trading over a 50 dma.

- ----- Original Message -----
From: "Scott Gettis" <sgettis@ucla.edu>
To: <canslim@lists.xmission.com>
Sent: Saturday, July 27, 2002 9:08 PM
Subject: RE: [CANSLIM] Follow Through Day

I dont think u need to change your scan.  I just think it further proves
that there are not many buy candidates right now.
In one of my scans that i run, there were no stocks with a ACC/DIS rating of
A.  I just dont see many sound bases right now.  Even if we do follow
through next week, it does not mean you immediately buy anything and
everything you see.

- --scott

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Patrick Wahl
Sent: Saturday, July 27, 2002 5:54 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Follow Through Day

I haven't done that because I'm not sure I want to watch stocks that are
under their
50 day, but you piqued my interest, so I modified the scan and tried it
again.  There
was an additional condition I had forgotten about, so removed that too.
Looking for
stocks priced at 16 or better, eps and revenue growth at least 22%, stocks
over a
200 day MA and avg.daily volume > 40k turned up only 20 stocks.  That is not
a
very restrictive scan I don't think, and it is turning up next to nothing.

I will be skeptical of any follow through day anyway, we aren't going to
have a V
bottom, so there will be time to gradually ease back into the market.  I've
probably
said this before, but at this time I don't see any industry that is going to
lead the
market higher.  No one is producing strong growth, I don't see a good "N"
(new that
is) industry out there right now.  I think we could get a bounce that might
be good for
trader types who have a short time horizon, say 3 to 4 weeks.

On 27 Jul 2002 at 16:49, Tom Worley wrote:

> Patrick, we fell so far, so fast, during the past month that I find very
few
> decent stocks still holding above their 50 dma. Have you tried running the
> same scan using the 200 dma instead, and see what you get?

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