Go to Jeff Salisbury LWGate Home Page.From: Sol Mayer <smaye1211@yahoo.com>
Subject: RE: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 12:10:24 -0700 (PDT)
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- --0-2001876034-1029784224=:36846 Content-Type: text/plain; charset=us-ascii how many shrs traded on the ECN's would you have been able to buy it? "Edward W. Gjertsen II" wrote: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" To: 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. - --------------------------------- Do You Yahoo!? HotJobs, a Yahoo! service - Search Thousands of New Jobs - --0-2001876034-1029784224=:36846 Content-Type: text/html; charset=us-ascii <P>how many shrs traded on the ECN's would you have been able to buy it? <P> <B><I>"Edward W. Gjertsen II" <ED@MACKTRACKS.COM></I></B>wrote: <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid">We had our representative on the NYSE floor go and speak with the<BR>specialist - he hid behind "order imbalance" - floor rules. We were<BR>asked if we wanted to file a complaint - we decided no. There will be<BR>many more battles like this. What is does do is make us look at<BR>alternatives. Like I mentioned in an earlier post - Island and other<BR>ECN's would have given us a fill around 32.50. So we are exploring our<BR>execution options. Our CANSLIM philosophy is broken down into three<BR>simple parts: Analysis, Money Management and Execution. This time, the<BR>3rd element, execution, was the weakest link. So , instead of<BR>complaining about it, we are doing what American's do best, head to the<BR>competition with a better product.<BR><BR>Ed Gjertsen II<BR>ed@macktracks.com<BR><BR>-----Original Message-----<BR>From: owner-canslim@lists.xmission.com<BR>[mailto:owner-canslim@lists.xmission.com] On Behalf Of david frank<BR>Sent: Monday, August 19, 2002 1:29 PM<BR>To: canslim@lists.xmission.com<BR>Subject: Re: [CANSLIM] CVH<BR><BR>I got caught in this so-called CVH inbalanced. luckily i had a limit<BR>order<BR>in place. although limit orders don't work sometimes- because they don't<BR>have to execute limit orders, although they are within the price window.<BR>of<BR>course. there were too many eyes on CVH. 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 minutes after placing their market orders. david<BR>----- Original Message -----<BR>From: "Edward W. Gjertsen II" <ED@MACKTRACKS.COM><BR>To: <CANSLIM@LISTS.XMISSION.COM><BR>Sent: Monday, August 19, 2002 11:36 AM<BR>Subject: RE: [CANSLIM] CVH<BR><BR><BR>> One of the risks with CANSLIM - too many investors ready to pounce 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 (cheating) when NYSE on level<BR>> two showed $32.40 offer. As CANSLIMR's moved in to buy - the<BR>specialist<BR>> did not open the book until $34.50. The specialist claimed "order<BR>> imbalance" but my source at Pershing said he was working another book.<BR>> We were quite upset The stock moved over $2.00 on an imbalance of<BR>> 110,000 shs. The market maker was caught flatfooted. We quickly sold<BR>> out of our position because we were over the 5% threshold.<BR>><BR>> Those trading Island or other ECN's may have been filled around<BR>> 32.40-32.50. We watch Time and Sales on all our fills and the only<BR>> prints were coming from ECN's. With CANSLIM being one of the most<BR>> popular strategies for individual investors, execution is becoming<BR>more<BR>> and more difficult.<BR>><BR>> Ed Gjertsen II<BR>> ed@macktracks.com<BR>><BR>><BR>> -<BR>> -To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>> -In the email body, write "subscribe canslim" or<BR>> -"unsubscribe canslim". Do not use quotes in your email.<BR><BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your email.<BR><BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your email.</BLOCKQUOTE><p><br><hr size=1><b>Do You Yahoo!?</b><br> <a href="http://rd.yahoo.com/careers/mailsig/new/*http://www.hotjobs.com">HotJobs, a Yahoo! service</a> - Search Thousands of New Jobs - --0-2001876034-1029784224=:36846-- - - - -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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