Go to Jeff Salisbury LWGate Home Page.From: "david frank" <camelot.homes@charter.net>
Subject: Re: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 14:31:06 -0500
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Ed, I appreciate your Americana theme. But what happened in CVH today is =
not a good thing. Of course you probably part of the old buddy system of =
brokers protecting each other. But filing complaints is a heck of a lot =
better than facing litigation. david
Ed, why suggest malfeasance and not file a complaint?
----- Original Message -----=20
From: Gene Ricci=20
To: canslim@lists.xmission.com=20
Sent: Monday, August 19, 2002 2:10 PM
Subject:=20
----- 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
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<DIV><FONT face=3DArial size=3D2>Ed, I appreciate your Americana theme. =
But what=20
happened in CVH today is not a good thing. Of course you probably part =
of the=20
old buddy system of brokers protecting each other. But filing complaints =
is a=20
heck of a lot better than facing litigation. david
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV><BR></FONT> </DIV></BLOCKQUOTE></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Ed, why =
suggest malfeasance and not=20
file a complaint?
<BLOCKQUOTE dir=3Dltr=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=3Dgenr@swbell.net href=3D"mailto:genr@swbell.net">Gene =
Ricci</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>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, August 19, 2002 =
2:10=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> =
</DIV></BLOCKQUOTE></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.=20
Gjertsen 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>=
=20
</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=20
look at<BR>alternatives. Like I mentioned in an earlier post - =
Island=20
and 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=20
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=20
CVH. i was curious what kind of<BR>remedy<BR>is there for this =
specialist's=20
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]=20
CVH<BR><BR><BR>> One of the risks with CANSLIM - too many =
investors=20
ready to pounce on<BR>> too few stocks. We have been =
stalking CVH=20
for quite a while. We put<BR>in<BR>> an order prior to it =
reaching=20
its pivot (cheating) when NYSE on level<BR>> two showed $32.40=20
offer. As CANSLIMR's moved in to buy - =
the<BR>specialist<BR>> did=20
not open the book until $34.50. The specialist claimed =
"order<BR>>=20
imbalance" but my source at Pershing said he was working another=20
book.<BR>> We were quite upset The stock moved over $2.00 =
on an=20
imbalance of<BR>> 110,000 shs. The market maker was caught=20
flatfooted. We quickly sold<BR>> out of our position =
because we=20
were over the 5% threshold.<BR>><BR>> Those trading Island or =
other=20
ECN's may have been filled around<BR>> 32.40-32.50. We =
watch Time=20
and Sales on all our fills and the only<BR>> prints were coming =
from=20
ECN's. With CANSLIM being one of the most<BR>> popular =
strategies=20
for individual investors, execution is becoming<BR>more<BR>> and =
more=20
difficult.<BR>><BR>> Ed 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 =
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,=20
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></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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