Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 22:18:00 -0400
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Ed, I think the specialist is assigned a particular stock, or option, by =
the exchange, not the company, unless things have changed when I was not =
looking.
- ----- Original Message -----=20
From: Edward W. Gjertsen II=20
To: canslim@lists.xmission.com=20
Sent: Monday, August 19, 2002 3:13 PM
Subject: RE: [CANSLIM] CVH
As I posted earlier, we will vote with our order flow, which will be =
away from the specialist. A good way to get a specialist in hot water =
is to complain to the public company itself. A specialist is appointed =
by the company to make a market in its stock. Should enough people =
complain to CVH, they may take action. Canslimers will run into these =
problems time and again, as I always suggest, take the high road. =20
Ed Gjertsen II
ed@macktracks.com
- -----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Gene Ricci
Sent: Monday, August 19, 2002 2:11 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] CVH
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
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-
-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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<DIV><FONT face=3DArial>Ed, I think the specialist is assigned a =
particular stock,=20
or option, by the exchange, not the company, unless things have changed =
when I=20
was not looking.</FONT></DIV>
<DIV> </DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3Ded@macktracks.com href=3D"mailto:ed@macktracks.com">Edward W. =
Gjertsen=20
II</A> </DIV>
<DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV><B>Sent:</B> Monday, August 19, 2002 3:13 PM</DIV>
<DIV><B>Subject:</B> RE: [CANSLIM] CVH</DIV></DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" color=3Dblue =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: blue">As I posted earlier, we will vote =
with our=20
order flow, which will be away from the specialist. A good way to =
get a=20
specialist in hot water is to complain to the public company =
itself. A=20
specialist is appointed by the company to make a market in its =
stock. =20
Should enough people complain to CVH, they may take action. =20
</SPAN></FONT><FONT color=3Dblue size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: blue">Canslim</SPAN></FONT><FONT =
color=3Dblue=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; COLOR: blue">ers will run into =
these=20
problems time and again, as I always suggest, take the high road. =20
</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" color=3Dblue =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: blue"></SPAN></FONT> </P>
<DIV>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" color=3Dblue =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: blue">Ed Gjertsen II</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" color=3Dblue =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: =
blue">ed@macktracks.com</SPAN></FONT></P></DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: bold">From:</SPAN></B>=20
owner-</SPAN></FONT><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">=20
[mailto:owner-</SPAN></FONT><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">] <B><SPAN=20
style=3D"FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Gene =
Ricci<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> Monday, August 19, 2002 =
2:11=20
PM<BR><B><SPAN style=3D"FONT-WEIGHT: bold">To:</SPAN></B> =
</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT=20
face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"><BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [CANSLIM]=20
CVH</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Comic =
Sans MS"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt; FONT-FAMILY: 'Comic Sans =
MS'">Ed, why=20
suggest malfeasance and not file a =
complaint?</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: =
medium none; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0in; MARGIN: 5pt 0in 5pt =
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medium none">
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">----- Original Message =
- -----=20
</SPAN></FONT></P></DIV>
<DIV style=3D"font-color: black">
<P class=3DMsoNormal style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">From:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Ded@macktracks.com href=3D"mailto:ed@macktracks.com">Edward W. =
Gjertsen=20
II</A> </SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">To:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Sent:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> Monday,=20
August 19, 2002 1:56 PM</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Subject:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> RE:=20
[CANSLIM] CVH</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"></SPAN></FONT> </P></DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt">We had our representative on =
the NYSE=20
floor go and speak with the<BR>specialist - he hid behind "order =
imbalance" -=20
floor rules. We were<BR>asked if we wanted to file a complaint - =
we=20
decided no. There will be<BR>many more battles like this. =
What is=20
does do is make us look at<BR>alternatives. Like I mentioned in =
an=20
earlier post - Island and other<BR>ECN's would have given us a fill =
around=20
32.50. So we are exploring our<BR>execution options. Our =
CANSLIM=20
philosophy is broken down into three<BR>simple parts: Analysis, Money=20
Management and Execution. This time, the<BR>3rd element, =
execution, was=20
the weakest link. So , instead of<BR>complaining about it, we =
are doing=20
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=20
email.</SPAN></FONT></P></BLOCKQUOTE></DIV></BODY></HTML>
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