Go to Jeff Salisbury LWGate Home Page.From: "Lin Wells" <linwells1@charter.net>
Subject: RE: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 14:31:56 -0500
Previous Article (by Subject): Re: [CANSLIM] CVH "david frank"
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This is an interesting conversation. I am not sure what "Island" and
"ECN's" are. If you have the time to enlighten me it would be much
appreciated.
Thanks,
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of david frank
Sent: Monday, August 19, 2002 2:31 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] CVH
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 -----
From: Gene Ricci <mailto:genr@swbell.net>
To: canslim@lists.xmission.com
Sent: Monday, August 19, 2002 2:10 PM
Subject:
- ----- Original Message -----
From: Edward W. Gjertsen II <mailto:ed@macktracks.com>
To: canslim@lists.xmission.com
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
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style=3D'font-size:
10.0pt;font-family:Arial;color:navy'> </span></font></p>
<p class=3DMsoNormal><font size=3D2 color=3Dnavy face=3DArial><span =
style=3D'font-size:
10.0pt;font-family:Arial;color:navy'>This is an interesting =
conversation. I am
not sure what “Island” and “ECN’s” =
are. If you
have the time to enlighten me it would be much =
appreciated.</span></font></p>
<p class=3DMsoNormal><font size=3D2 color=3Dnavy face=3DArial><span =
style=3D'font-size:
10.0pt;font-family:Arial;color:navy'> </span></font></p>
<p class=3DMsoNormal><font size=3D2 color=3Dnavy face=3DArial><span =
style=3D'font-size:
10.0pt;font-family:Arial;color:navy'>Thanks,</span></font></p>
<p class=3DMsoNormal><font size=3D2 color=3Dnavy face=3DArial><span =
style=3D'font-size:
10.0pt;font-family:Arial;color:navy'> </span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DTahoma><span
style=3D'font-size:10.0pt;font-family:Tahoma'>-----Original =
Message-----<br>
<b><span style=3D'font-weight:bold'>From:</span></b>
owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] <b><span
style=3D'font-weight:bold'>On Behalf Of </span></b>david frank<br>
<b><span style=3D'font-weight:bold'>Sent:</span></b> Monday, August 19, =
2002 2:31
PM<br>
<b><span style=3D'font-weight:bold'>To:</span></b> =
canslim@lists.xmission.com<br>
<b><span style=3D'font-weight:bold'>Subject:</span></b> Re: [CANSLIM] =
CVH</span></font></p>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> </span></font></p>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'>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 </span></font></p>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'><br>
</span></font> </p>
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</div>
<blockquote style=3D'border:none;border-left:solid black =
1.5pt;padding:0in 0in 0in 4.0pt;
margin-left:3.75pt;margin-top:5.0pt;margin-right:0in;margin-bottom:5.0pt'=
>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> </span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Comic Sans MS"><span
style=3D'font-size:12.0pt;font-family:"Comic Sans MS"'>Ed, why
suggest malfeasance and not file a complaint? =
</span></font></p>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'>----- Original Message =
- ----- </span></font></p>
</div>
<div style=3D'font-color:black'>
<p class=3DMsoNormal =
style=3D'margin-left:.5in;background:#E4E4E4'><b><font size=3D2
face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>From:</span=
></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> <a
href=3D"mailto:genr@swbell.net" title=3D"genr@swbell.net">Gene Ricci</a> =
</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>To:</span><=
/font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> <a
href=3D"mailto:canslim@lists.xmission.com" =
title=3D"canslim@lists.xmission.com">canslim@lists.xmission.com</a>
</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>Sent:</span=
></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> Monday,
August 19, 2002 2:10 PM</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>Subject:</s=
pan></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> </span></font></p>
</div>
</div>
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</div>
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1.5pt;padding:0in 0in 0in 4.0pt;
margin-left:3.75pt;margin-top:5.0pt;margin-right:0in;margin-bottom:5.0pt'=
>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial'>----- Original Message =
- ----- </span></font></p>
</div>
<div style=3D'font-color:black'>
<p class=3DMsoNormal =
style=3D'margin-left:.5in;background:#E4E4E4'><b><font size=3D2
face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>From:</span=
></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> <a
href=3D"mailto:ed@macktracks.com" title=3D"ed@macktracks.com">Edward W. =
Gjertsen II</a>
</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>To:</span><=
/font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> <a
href=3D"mailto:canslim@lists.xmission.com" =
title=3D"canslim@lists.xmission.com">canslim@lists.xmission.com</a>
</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>Sent:</span=
></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> Monday,
August 19, 2002 1:56 PM</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><b><font size=3D2 =
face=3DArial><span
style=3D'font-size:10.0pt;font-family:Arial;font-weight:bold'>Subject:</s=
pan></font></b><font
size=3D2 face=3DArial><span =
style=3D'font-size:10.0pt;font-family:Arial'> RE:
[CANSLIM] CVH</span></font></p>
</div>
<div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'> </span></font></p>
</div>
<p class=3DMsoNormal style=3D'margin-left:.5in'><font size=3D3 =
face=3D"Times New Roman"><span
style=3D'font-size:12.0pt'>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>
<a href=3D"mailto:ed@macktracks.com">ed@macktracks.com</a><br>
<br>
- -----Original Message-----<br>
From: <a =
href=3D"mailto:owner-canslim@lists.xmission.com">owner-canslim@lists.xmis=
sion.com</a><br>
[mailto:owner-canslim@lists.xmission.com] On Behalf Of david frank<br>
Sent: Monday, August 19, 2002 1:29 PM<br>
To: <a =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</a>=
<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" <<a =
href=3D"mailto:ed@macktracks.com">ed@macktracks.com</a>><br>
To: <<a =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</a>=
><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>
> <a href=3D"mailto:ed@macktracks.com">ed@macktracks.com</a><br>
><br>
><br>
> -<br>
> -To subscribe/unsubscribe, email "<a
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</a>"<b=
r>
> -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 "<a =
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</a>"<b=
r>
- -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 "<a =
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</a>"<b=
r>
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email.</span></font></p>
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Previous Article (by Subject): Re: [CANSLIM] CVH "david frank"
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