Re: [CANSLIM] CVH

From: "Bill Triffet" <btriffet@earthlink.net>
Subject: Re: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 09:58:31 -0700

Next Article (by Author): Re: [CANSLIM] Off topic- kinda: Site suggestion for economic data? Chazmoore@aol.com
Top of Thread: [CANSLIM] CVH "David Rubin"
Articles sorted by: [Date] [Author] [Subject]

Ed,

An interesting view of the trade. As most of us are your run-of-the-mill
discount broker investors, its quite  interesting to see the trade from your
perspective.

Couple of things this brings up to me:
How different would this scenario have been if it was a nasdaq listed issue.
More importantly with the speed of order execution these days, perhaps the
human market maker is starting to reach their operating limits?

Note: my knowledge of internal market workings is very weak compared to some
here but I've often wondered about the purely electronic trade vs. the human
market maker element. I realize there is quite a tradition involved with
human market maker and that is very important for many folks - especially
the large block traders.


- -Bill



- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Monday, August 19, 2002 9:36 AM
Subject: RE: [CANSLIM] CVH


> One of the risks with CANSLIM -  too many investors ready to pounce on
> too few stocks.  We have been stalking CVH for quite a while.  We put in
> an order prior to it reaching its pivot (cheating) when NYSE on level
> two showed $32.40 offer.  As CANSLIMR's moved in to buy - the specialist
> did not open the book until $34.50.  The specialist claimed "order
> imbalance" but my source at Pershing said he was working another book.
> We were quite upset  The stock moved over $2.00 on an imbalance of
> 110,000 shs.  The market maker was caught flatfooted.  We quickly sold
> out of our position because we were over the 5% threshold.
>
> Those trading Island or other ECN's may have been filled around
> 32.40-32.50.  We watch Time and Sales on all our fills and the only
> prints were coming from ECN's.  With CANSLIM being one of the most
> popular strategies for individual investors, execution is becoming more
> and more difficult.
>
> Ed Gjertsen II
> ed@macktracks.com
>



- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.

Go to Jeff Salisbury LWGate Home Page.