[CANSLIM] Zillagirl

From: RWElmer@aol.com
Subject: [CANSLIM] Zillagirl
Date: Thu, 8 Aug 2002 01:49:25 EDT

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Hello Zillagirl,

I offer another explanation as to why people won't share their lists. It goes
back to, "Give a man a fish and he'll eat for a day, teach a man to fish and
he'll eat for life." Or, as Bruce Lee said, "I cannot teach you this method
or that method. I can only teach you to explore yourself."

In many ways, that's exactly what I see happening on this Board. When people
point out resources, they are giving you all that you need until you have
explored that resource to your own satisfaction and edification. To walk you
step by step through the process is not only a possible infringement on their
good nature and time, it is also a disservice to you. This is the "exploring
yourself" part of the Journey. The more experienced Members have a process
that works for them and is usually as a result of much trial and error. That
groping is part of the process, as it's very unlikely you'll stumble upon a
ready made system of somebody else's that suits your needs exactly. It is by
studying as much as you can that you develop skills that teach you not only
how to use the tools, but also why they're used the way they are. This goes
down to learning how to use Excel sheets and Downloading files. If you thirst
for the knowledge, you will find a way to gain it, with or without the help
of others. I find "Help" menus have served me well in times of trouble. The
good thing here is that there are so many able and willing souls to assist
you. I know I have found that the times I'm most willing to do things for
myself are the exact times someone comes along to offer help. (Most often for
me it's been this Guiding Light I met on a Board much like this, but that's
another story)

Our personal Watchlists are not a secret, if I may speak for others. As
another Member noted, many of the picks we come to on our own are well known
and much discussed on this Board. Simply perusing the Daily Screen on IBD
will give you some wonderful candidates to work with. The trick is, now that
you know about them, what are you going to do with them? Your not missing out
on very many "secrets" in the way of picks, except maybe with Tom's small
caps (I like 'em too, Tom) This is where developing your own methodology is
so important. To that end, you might start by going through HTMMIS and
deriving a process by which you'll evaluate stocks that you come across.
Write down the things WON mentions that are important and make your list.
Decide that those which past this list will go on a Watchlist. After you have
that list (and keep updating it regularly) do deeper Due Diligence (DD) until
you are satisfied that you would buy whichever stocks if their chart patterns
present an opportunity. Put those on your Ready To Buy List then watch them
like a hawk for that opportunity. Simply working out the details of this will
keep you learning for a good while. And it's ultimately what we're all doing
to get our lists, in one way or another.

Personally, I agree with those that prefer not to post their lists. The
reason is that a list is not separate from the process by which it was
derived. To share the list is to share the process. To share the process is
to assume the person it's being shared with is going to relate to your way of
looking at the problem. That's a huge assumption. It leaves alot of room for
misunderstanding and disagreement. And it's always probable that what works
for another may not work for you. That's just a consequence of being
individuals. The funny thing is, there is one person willing to share both
lists and process, and is a master at doing it. That, of course, is William
O'Neil. It is his process that is much debated and interpreted here. In that
context it's easy to see why it'd be difficult for any here to really share
their methods. As open book as O'Neil's method is, it's still not easily
grasped or executed. And he is in the business of letting you in on his
"secrets." What chance do we have of really being able to pass on our
approach without exposing it to misunderstanding, and useless defending? No,
instead I recommend letting the Experienced teach you to explore yourself.

You obviously have the desire to learn. But trading, like any discipline,
takes alot of working with, alot of patience, and a love of learning. As I
see it, CANSLIM is not a get rich quick method but a Discipline to Master
that leads to Wealth. I think most would agree that part of that Wealth is
the inner growth developed to master the method (which, incidentally, I have
not). Spend some time working with the ideas you have been given to this
point by so many and see how pondering them helps you grow. It's a process we
all go through, and continue to go through. I don't think the learning ends
until you quit. The Board will be here when you need them, but much more is
gained, I believe, by taking a bite at a time then chewing for a while.

Best Wishes for a rewarding Journey,

Robert W. Elmer

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<HTML>Hello Zillagirl,
 
 I offer another explanation as to why people won't share their lists. It goes back to, "Give a man a fish and he'll eat for a day, teach a man to fish and he'll eat for life." Or, as Bruce Lee said, "I cannot teach you this method or that method. I can only teach you to explore yourself."
 
 In many ways, that's exactly what I see happening on this Board. When people point out resources, they are giving you all that you need until you have explored that resource to your own satisfaction and edification. To walk you step by step through the process is not only a possible infringement on their good nature and time, it is also a disservice to you. This is the "exploring yourself" part of the Journey. The more experienced Members have a process that works for them and is usually as a result of much trial and error. That groping is part of the process, as it's very unlikely you'll stumble upon a ready made system of somebody else's that suits your needs exactly. It is by studying as much as you can that you develop skills that teach you not only how to use the tools, but also why they're used the way they are. This goes down to learning how to use Excel sheets and Downloading files. If you thirst for the knowledge, you will find a way to gain it, with or without the help of others. I find "Help" menus have served me well in times of trouble. The good thing here is that there are so many able and willing souls to assist you. I know I have found that the times I'm most willing to do things for myself are the exact times someone comes along to offer help. (Most often for me it's been this Guiding Light I met on a Board much like this, but that's another story)
 
 Our personal Watchlists are not a secret, if I may speak for others. As another Member noted, many of the picks we come to on our own are well known and much discussed on this Board. Simply perusing the Daily Screen on IBD will give you some wonderful candidates to work with. The trick is, now that you know about them, what are you going to do with them? Your not missing out on very many "secrets" in the way of picks, except maybe with Tom's small caps (I like 'em too, Tom) This is where developing your own methodology is so important. To that end, you might start by going through HTMMIS and deriving a process by which you'll evaluate stocks that you come across. Write down the things WON mentions that are important and make your list. Decide that those which past this list will go on a Watchlist. After you have that list (and keep updating it regularly) do deeper Due Diligence (DD) until you are satisfied that you would buy whichever stocks if their chart patterns present an opportunity. Put those on your Ready To Buy List then watch them like a hawk for that opportunity. Simply working out the details of this will keep you learning for a good while. And it's ultimately what we're all doing to get our lists, in one way or another.
 
 Personally, I agree with those that prefer not to post their lists. The reason is that a list is not separate from the process by which it was derived. To share the list is to share the process. To share the process is to assume the person it's being shared with is going to relate to your way of looking at the problem. That's a huge assumption. It leaves alot of room for misunderstanding and disagreement. And it's always probable that what works for another may not work for you. That's just a consequence of being individuals. The funny thing is, there is one person willing to share both lists and process, and is a master at doing it. That, of course, is William O'Neil. It is his process that is much debated and interpreted here. In that context it's easy to see why it'd be difficult for any here to really share their methods. As open book as O'Neil's method is, it's still not easily grasped or executed. And he is in the business of letting you in on his "secrets." What chance do we have of really being able to pass on our approach without exposing it to misunderstanding, and useless defending? No, instead I recommend letting the Experienced teach you to explore yourself.
 
 You obviously have the desire to learn. But trading, like any discipline, takes alot of working with, alot of patience, and a love of learning. As I see it, CANSLIM is not a get rich quick method but a Discipline to Master that leads to Wealth. I think most would agree that part of that Wealth is the inner growth developed to master the method (which, incidentally, I have not). Spend some time working with the ideas you have been given to this point by so many and see how pondering them helps you grow. It's a process we all go through, and continue to go through. I don't think the learning ends until you quit. The Board will be here when you need them, but much more is gained, I believe, by taking a bite at a time then chewing for a while.
 
 Best Wishes for a rewarding Journey,
 
 Robert W. Elmer
 </HTML>

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