Re: [CANSLIM] Too many CANSLIMers?

From: "Bill Triffet" <btriffet@earthlink.net>
Subject: Re: [CANSLIM] Too many CANSLIMers?
Date: Wed, 21 Aug 2002 09:52:27 -0700
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I call it the C&H stigma. Everyone on all the boards knows this term now.
Whether they include the proper fundies when picking a stock is not known.
Five years ago I hardly saw the term compared to now. Ex: have a look at
www.clearstation.com  for comments about CVH and it's break out and the
references to IBD news.

Many of the folks on that site use the C&H for short term trades - not
canslim. While many will assume these are mainly small retail investors (a
big fish wouldn't advertise), I can bet there are many big fish trading
short term off breakouts. Heck,  a $100k  trade for a quick 8% to 10% gain
is ok for them. Just look at the high numbers of failed breakouts. Someone
made money for a short time.

- -Bill


- ----- Original Message -----
From: "david frank" <camelot.homes@charter.net>
To: <canslim@lists.xmission.com>
Sent: Wednesday, August 21, 2002 9:13 AM
Subject: Re: [CANSLIM] Too many CANSLIMers?


> 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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> >
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>
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