RE: [CANSLIM] CVH

From: "Edward W. Gjertsen II" <ed@macktracks.com>
Subject: RE: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 13:56:21 -0500

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We had our representative on the NYSE floor go and speak with the
specialist - he hid behind "order imbalance" - floor rules.  We were
asked if we wanted to file a complaint - we decided no.  There will be
many more battles like this.  What is does do is make us look at
alternatives.  Like I mentioned in an earlier post - Island and other
ECN's would have given us a fill around 32.50.  So we are exploring our
execution options.  Our CANSLIM philosophy is broken down into three
simple parts: Analysis, Money Management and Execution.  This time, the
3rd element, execution, was the weakest link.  So , instead of
complaining about it, we are doing what American's do best, head to the
competition with a better product.

Ed Gjertsen II
ed@macktracks.com

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of david frank
Sent: Monday, August 19, 2002 1:29 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] CVH

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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