RE: [CANSLIM] CVH

From: "David Taggart" <dctag@mavericktrading.com>
Subject: RE: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 11:32:40 -0600

Next Article (by Subject): Re: [CANSLIM] CVH "david frank"
Previous Article (by Subject): RE: [CANSLIM] CVH "Scott Gettis"
Next in Thread: Re: [CANSLIM] CVH "david frank"
Articles sorted by: [Date] [Author] [Subject]

Specialist are corrupt.  That might be to strong a statement but not by
much.  NYSE fills take forever if you are lucky to get any at all.  Whereas
Nas usually works quite well.  If you were to take a couple of senators and
give each of them an account to day trade for one week they would make the
NYSE go electronic.  I can get filled on 2,000 shares on regular nasdaq
issues in 2-5 seconds usually but on NYSE half the time a few seconds AFTER
putting in an order the Bid is mysteriously raised one cent so then I raise
and it raises then a few cents later if I still want the stock I finally get
filled.  Whenever I try market orders which isnt often I get filled ten
cents away from where the market is trading.  My vote is for the NYSE to go
electronic.  Of course for longer term positions i.e. CANSLIM it doesnt
matter as much but still things like order imbalances dont happen on Nasdaq
issues because it is a free market.

Thats my rant for today.

David Taggart

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Scott Gettis
Sent: Monday, August 19, 2002 11:17 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] CVH


one approach would be to buy within limits with a buy stop limit order.
That way u can prevent getting a bad fill and taking extra risk.

- --Scott

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Edward W. Gjertsen
II
Sent: Monday, August 19, 2002 9:36 AM
To: canslim@lists.xmission.com
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.


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


- -
- -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.