Re: [CANSLIM] CVH

From: "david frank" <camelot.homes@charter.net>
Subject: Re: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 13:29:18 -0500

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I got caught in this so-called CVH inbalanced. luckily i had a limit order
in place. although limit orders don't work sometimes- because they don't
have to execute limit orders, although they are within the price window. of
course. there were too many eyes on CVH. i was curious what kind of remedy
is there for this specialist's malfeasance, especially for buyers @ 34.50
and above- more than 10 minutes after placing their market orders. david
- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Monday, August 19, 2002 11:36 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
>
>
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