Go to Jeff Salisbury LWGate Home Page.From: Gene Ricci <genr@swbell.net>
Subject: Re: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 14:10:52 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_008C_01C2478A.3A2298C0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Ed, why suggest malfeasance and not file a complaint? ----- Original Message -----=20 From: Edward W. Gjertsen II=20 To: canslim@lists.xmission.com=20 Sent: Monday, August 19, 2002 1:56 PM Subject: RE: [CANSLIM] CVH 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 > > > - > -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. - ------=_NextPart_000_008C_01C2478A.3A2298C0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 5.50.4916.2300" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3D"Comic Sans MS">Ed, why = suggest malfeasance and not=20 file a complaint?</FONT></DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV> <DIV> </DIV> <BLOCKQUOTE=20 style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; = BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV> <DIV=20 style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: = black"><B>From:</B>=20 <A title=3Ded@macktracks.com href=3D"mailto:ed@macktracks.com">Edward = W. Gjertsen=20 II</A> </DIV> <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A = title=3Dcanslim@lists.xmission.com=20 = href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>= </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, August 19, 2002 = 1:56=20 PM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] = CVH</DIV> <DIV><BR></DIV>We had our representative on the NYSE floor go and = speak with=20 the<BR>specialist - he hid behind "order imbalance" - floor = rules. We=20 were<BR>asked if we wanted to file a complaint - we decided no. = There=20 will be<BR>many more battles like this. What is does do is make = us look=20 at<BR>alternatives. Like I mentioned in an earlier post - Island = and=20 other<BR>ECN's would have given us a fill around 32.50. So we = are=20 exploring our<BR>execution options. Our CANSLIM philosophy is = broken=20 down into three<BR>simple parts: Analysis, Money Management and=20 Execution. This time, the<BR>3rd element, execution, was the = weakest=20 link. So , instead of<BR>complaining about it, we are doing what = American's do best, head to the<BR>competition with a better=20 product.<BR><BR>Ed Gjertsen II<BR><A=20 = href=3D"mailto:ed@macktracks.com">ed@macktracks.com</A><BR><BR>-----Origi= nal=20 Message-----<BR>From: <A=20 = href=3D"mailto:owner-canslim@lists.xmission.com">owner-canslim@lists.xmis= sion.com</A><BR>[mailto:owner-canslim@lists.xmission.com]=20 On Behalf Of david frank<BR>Sent: Monday, August 19, 2002 1:29 = PM<BR>To: <A=20 = href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>= <BR>Subject:=20 Re: [CANSLIM] CVH<BR><BR>I got caught in this so-called CVH = inbalanced.=20 luckily i had a limit<BR>order<BR>in place. although limit orders = don't work=20 sometimes- because they don't<BR>have to execute limit orders, = although they=20 are within the price window.<BR>of<BR>course. there were too many eyes = on CVH.=20 i was curious what kind of<BR>remedy<BR>is there for this specialist's = malfeasance, especially for buyers @<BR>34.50<BR>and above- more than = 10=20 minutes after placing their market orders. david<BR>----- Original = Message=20 -----<BR>From: "Edward W. Gjertsen II" <<A=20 href=3D"mailto:ed@macktracks.com">ed@macktracks.com</A>><BR>To: = <<A=20 = href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>= ><BR>Sent:=20 Monday, August 19, 2002 11:36 AM<BR>Subject: RE: [CANSLIM] = CVH<BR><BR><BR>>=20 One of the risks with CANSLIM - too many investors ready to = pounce=20 on<BR>> too few stocks. We have been stalking CVH for quite a = while. We put<BR>in<BR>> an order prior to it reaching its = pivot=20 (cheating) when NYSE on level<BR>> two showed $32.40 offer. = As=20 CANSLIMR's moved in to buy - the<BR>specialist<BR>> did not open = the book=20 until $34.50. The specialist claimed "order<BR>> imbalance" = but my=20 source at Pershing said he was working another book.<BR>> We were = quite=20 upset The stock moved over $2.00 on an imbalance of<BR>> = 110,000=20 shs. The market maker was caught flatfooted. We quickly=20 sold<BR>> out of our position because we were over the 5%=20 threshold.<BR>><BR>> Those trading Island or other ECN's may = have been=20 filled around<BR>> 32.40-32.50. We watch Time and Sales on = all our=20 fills and the only<BR>> prints were coming from ECN's. With = CANSLIM=20 being one of the most<BR>> popular strategies for individual = investors,=20 execution is becoming<BR>more<BR>> and more = difficult.<BR>><BR>> Ed=20 Gjertsen II<BR>> <A=20 = href=3D"mailto:ed@macktracks.com">ed@macktracks.com</A><BR>><BR>><B= R>>=20 -<BR>> -To subscribe/unsubscribe, email "<A=20 = href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>>= ; -In=20 the email body, write "subscribe canslim" or<BR>> -"unsubscribe=20 canslim". Do not use quotes in your email.<BR><BR><BR>-<BR>-To=20 subscribe/unsubscribe, email "<A=20 = href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In= the=20 email body, write "subscribe canslim" or<BR>-"unsubscribe = canslim". Do=20 not use quotes in your email.<BR><BR><BR>-<BR>-To = subscribe/unsubscribe, email=20 "<A = href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In= =20 the email body, write "subscribe canslim" or<BR>-"unsubscribe = canslim". =20 Do not use quotes in your email.<BR></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_008C_01C2478A.3A2298C0-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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