Go to Jeff Salisbury LWGate Home Page.From: michael_niemotka@baxter.com
Subject: Re: Cups with Craps was RE: [CANSLIM] Identifying NEW leaders
Date: Wed, 7 Aug 2002 09:01:28 -0500
Next Article (by Subject): RE: Let's start a watch list. Formerly [CANSLIM] Identifying NEW leaders "Duke Miller"
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Mike,
I tried the new link with the default values, and came up with zero
stocks....guess that says a LOT about M....what, if any changes to the
defaults do you recommend to at least get a couple of prospects?
Keep up the great work
Mike
Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com
"Mike Gibbons"
<mikegibbons@proactech To: canslim@lists.xmission.com
.com> cc:
Sent by: Subject: Cups with Craps was RE: [CANSLIM] Identifying NEW leaders
owner-canslim@lists.xm
ission.com
08/06/2002 07:15 PM
Please respond to
canslim
Here's a little tool that I offer to the group that will help mine for
these situations, whatever their merits.
My CwH engine normally looks for charts that fit the standard CwH criteria,
but an adaptation I've made of the engine will allow you to look for stocks
that zoomed past the left side of the cup and formed a higher than usual
pivot, even if only for 1 day.
Try overriding the default parameters in the attached link with ,say, a max
pivot of 120% (that means 20% above the left side cup rim) and a handle
length of 1 day.
http://www.cwhcharts.com/cs.php
The tool will only find stocks that have formed a pullback, even of only 1
day, so it can't find stocks that are not currently forming a handle (that
is 0 handle days).
This is a freebie for the group in return for the immense educational value
I get from being a member. It's only been tested within normal CwH ranges
so I'm not sure how well it will perform under wild assumptions. Let me
know if you find anything strange, if you find it useful, and what
improvements you'd like to see.
BTW, it does use extensive processing resources, so please be restrained in
its use. Some members were hitting the Canslim Evaluator(
http://www.cwhcharts.com/canslim) over 100 times a day so I had to limit it
to only 5 times per person per day.
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 Duke Miller
Sent: Tuesday, August 06, 2002 11:12 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] Identifying NEW leaders
WON did say that consumer groups might likely lead us out of the
abyss. And if you pulled up today's SOD, there's a good chance you
almost fell out of your chair as I did. It lists the top 20 Up/Down
Volume leaders, to wit:
This screen lists leading stocks in leading industries with an up/down
volume ratio of at least 1.0, which indicates buying volume has
exceeded selling volume in recent months. The ratio can be found daily
in IBD's Stock Checkup for all stocks. Stocks shown have an Earnings
Per Share Rating Relative Price Strength Rating of at least 80, an
Industry Group Relative Strength Rating of at least "B-" and an SMR
Rating of "A." All stocks are within 20% of a 52-week high.
There are three consumer products companies therein: BUD, DL, STZ,
and PG (that one made me fall out of my chair).
On another note, I've been absent a few days from the list, and in
reviewing it, I noted someone saying that a particular chart looked
pretty good, but it had no handle yet. Then I noted in today's
Investor's Corner, it's not totally necessary to have a handle. After
thinking about this and reviewing a few "handle-less" charts. All I
could conclude is it's really a pattern that caters to good ol' IBD
hindsight, right? Buying as the stock breaks out past the left peak
of the handle (+ $.10) is risking that it's just setting up for a
handle, right?
Maybe we could name this new chart pattern "Cup with Craps" (as in
rolling the dice)!
Your roll....
Duke
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of
Chazmoore@aol.com
Sent: Tuesday, August 06, 2002 4:14 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Identifying NEW leaders
Rocky/Fanus: Can I jump in on this subject?
I have no background in the technology field and all of my chips
come out of a plastic bag, but more to the point I think the
question is where will new market leadership come from?
The other day when WON was interviewed by K&K, he suggested it
may come from the consumer group. My first reaction was negative.
I can't see Ladies handbags, blue jeans, and hot dogs leading the
market out of this mess. However, after talking to friends in the
manufacturing business, WON may be right. Most business leaders
are in a state of shell shock. They question the people that work
for them, they question the government that regulates them, and
they are afraid of the stockholders who pay them. With this kind
of pressure who will be the first the expand production or build
that new plant. On the other hand consumers really aren't that
bad off no matter how much they complain. Even with 6%
unemployment, 94% have jobs, are buying new homes and new cars
and are even taking a vacation this year.
After thinking about it I have to agree that new leaders will
come from consumers. After all they represent 2/3rd of the
economy. I don't think this necessarily means retail merchants
will be our leaders, it may be technology products designed for
consumers.
I think we will know before the end of the year. Charley
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