RE: [CANSLIM] Too many CANSLIMers?

From: "David Taggart" <dctag@mavericktrading.com>
Subject: RE: [CANSLIM] Too many CANSLIMers?
Date: Wed, 21 Aug 2002 10:08:15 -0600
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In this market enviornment I would pretty much agree.  When the pickings are
slim then more eyes are on each stock that is setting up. I have found that
for me it is a lot more efficient to buy a little before the breakout and
then if it doesnt breakout just scratch the trade for a small loss or gain.
A lot of times I will swing trade a CANSLIM and then if it breaks out I will
add to my position.  Like right now I am looking at PDCO and assuming it
sets up I will enter later today or tommorow.   A lot of times they wont
breakout but I still get a little bit of profit from the minor swing. And
when I get stopped out of a Swing trade it is always a small loss even if
deep down inside we all know that any loss is too big :-)  Doing all this I
keep my broker happy (I am a broker with my broker) but I keep my account
happy as well.  If you trade size Greg Kuhn has a good article on
Tradingmarkets showing how he enters CANSLIM stocks before the breakout.

David Taggart



- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Edward W. Gjertsen
II
Sent: Wednesday, August 21, 2002 9:37 AM
To: canslim@lists.xmission.com
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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