Re: [CANSLIM] Too many CANSLIMers?

From: "david frank" <camelot.homes@charter.net>
Subject: Re: [CANSLIM] Too many CANSLIMers?
Date: Wed, 21 Aug 2002 11:13:06 -0500

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The side i'm curious about is the sell side. are most of these buyers,  weak
holders or not? probably not, because pure canslimers hold for a 7-8% loss.
and most of the recent breakouts are holding up quite well. david
- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, August 21, 2002 10:36 AM
Subject: RE: [CANSLIM] Too many CANSLIMers?


> Great comments Tom.  Everyone here should realize that there are more
> than just individuals following CANSLIM.  We are aware of several hedge
> funds ($50+mm each) that strictly follow CANSLIM.  Also, many who follow
> the great site TradingMarkets.com, will realize the C&H formations are
> very popular with swing traders.  Don't forget WON and his employees
> trade their retirement plans as well.  So in essence, the pool is pretty
> deep and we will always be faced with potential "squeezes" like CVH.
> This is why many have been "cheating" by buying fractional positions
> prior to the pivot, eventually loading up to a full position as the
> stock breaks through the pivot.  Good Luck to all.
>
> Ed Gjertsen II
> ed@macktracks.com
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com] On Behalf Of Tom Worley
> Sent: Wednesday, August 21, 2002 1:08 AM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] Too many CANSLIMers?
>
> Outside of the small / micro cap playground I like to haunt, where
> 10,000
> shares in a day can represent a huge volume spike, the retail investors
> represented on this group can make little difference in their buying
> power /
> volume alone. But where they can make a difference is when you add in
> all
> the other CANSLIM oriented investors that have not yet (fortunately)
> found
> this group, or all the ones that are pure momentum players, or think
> they
> understand CANSLIM, and thereby end up with approx the same pivot point.
> Then, on top of that, think of the real elephants, the money / fund
> managers
> sitting on the sidelines with bags of somebody else's money they want to
> spend, and don't know where. If they are active practitioners of
> CANSLIM,
> they likely they are also looking at the same pivot point, and ready to
> cast
> millions of $$$ at it when they see a possible b/o. If the little guys
> all
> start hitting the same pivot point, creating both volume and price
> movement,
> then some of the elephants start stampeding. That attracts attention
> from
> other little guys just chasing the herd, as well as other fund / money
> managers, some of whom are friends with the ones that already jumped
> into
> the water.
>
> They don't call it herd instinct (or herd mentality, which implies
> wrongly
> that there are any brains behind it) for nothing. Momentum is only one
> part
> of CANSLIM. When you get both momentum and quality CANSLIM criteria, you
> get
> the best of all worlds, of interest to the majority of potential stock
> buyers (as well as some shorters).
>
> ----- Original Message -----
> From: "Boyd" <theboyd@tisd.net>
> To: <canslim@lists.xmission.com>
> Sent: Tuesday, August 20, 2002 1:06 PM
> Subject: Re: [CANSLIM] Too many CANSLIMers?
>
>
>
> <opinion>
> Maybe in a bear M where there are few good set-ups, we small CAN SLIMers
> out here in WON-land can make a difference on low-vol stocks.  WON says
> it's instutions that move a stock when it is really climbing.  But I
> have
> never completely understood how the big money plays CAN SLIM (if they
> do).
> Do they ever buy at the pivot like us?  Surely they don't move in and
> out
> of a stock like CAN SLIM can have us doing at times.  I thought they
> took
> weeks to take a position?  If so, wouldn't they be the folks causing the
> right side of the cup to form?  Not being an market insider, I am
> "clueless
> in Texas."
> </opinion>
>
> Norm
>
>
>
>
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