Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] CVH
Date: Mon, 19 Aug 2002 23:20:21 -0400
Previous Article (by Author): Re: [CANSLIM] David Ryan "Tom Worley"
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Lin - ECN =3D Electronic Communication Network, you can read more about =
the concept at
http://www.investopedia.com/terms/e/ecn.asp
- ----- Original Message -----=20
From: Lin Wells=20
To: canslim@lists.xmission.com=20
Sent: Monday, August 19, 2002 3:31 PM
Subject: RE: [CANSLIM] CVH
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=20
=20
Ed, why suggest malfeasance and not file a complaint?=20
----- 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
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<DIV><FONT face=3DArial>Lin - ECN =3D Electronic Communication Network, =
you can read=20
more about the concept at</FONT></DIV>
<DIV><FONT face=3DArial><A=20
href=3D"http://www.investopedia.com/terms/e/ecn.asp">http://www.investope=
dia.com/terms/e/ecn.asp</A></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=3Dlinwells1@charter.net href=3D"mailto:linwells1@charter.net">Lin =
Wells</A>=20
</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 3:31 PM</DIV>
<DIV><B>Subject:</B> RE: [CANSLIM] CVH</DIV></DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"></SPAN></FONT> </P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">This is an =
interesting=20
conversation. I am not sure what =93Island=94 and =93ECN=92s=94 =
are. If you=20
have the time to enlighten me it would be much =
appreciated.</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"></SPAN></FONT> </P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial">Thanks,</SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"></SPAN></FONT> </P>
<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> <A =
href=3D"mailto:owner-canslim@lists.xmission.com">owner-canslim@lists.xmis=
sion.com</A>=20
[mailto:owner-canslim@lists.xmission.com] <B><SPAN style=3D"FONT-WEIGHT: =
bold">On=20
Behalf Of </SPAN></B>david frank<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> Monday, August 19, 2002 =
2:31=20
PM<BR><B><SPAN style=3D"FONT-WEIGHT: bold">To:</SPAN></B> <A=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
<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=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Ed, I appreciate your =
Americana=20
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=20
filing complaints is a heck of a lot better than facing litigation. =
david=20
</SPAN></FONT></P>
<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"><BR></SPAN></FONT> </P></DIV></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 =
3.75pt; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: =
medium none">
<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"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>
<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=3Dgenr@swbell.net href=3D"mailto:genr@swbell.net">Gene Ricci</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 2:10 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">=20
</SPAN></FONT></P></DIV></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 =
3.75pt; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: =
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=20
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=20
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=20
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=20
is 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,=20
was the weakest link. So , instead of<BR>complaining about it, =
we are=20
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=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=
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email body, write "subscribe canslim" or<BR>-"unsubscribe =
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Previous Article (by Author): Re: [CANSLIM] David Ryan "Tom Worley"
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