RE: [CANSLIM] CVH

From: "Edward W. Gjertsen II" <ed@macktracks.com>
Subject: RE: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 11:36:29 -0500

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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 


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