Re: [CANSLIM] Too many CANSLIMers?

From: "Bill Triffet" <btriffet@earthlink.net>
Subject: Re: [CANSLIM] Too many CANSLIMers?
Date: Wed, 21 Aug 2002 11:39:27 -0700
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David,

Sorry I wasn't  clear - both in my example and time frame. I was referring
to earlier this year in May when there was similar talk of breakouts - many
of which failed. I still get that hit today.
Also, my real intent with mentioning CVH and clearstation is it's visibility
there. Some of the discussion involving various parts of canslim.

You had asked if most of these were "weak holders" (yes, in this current
market). My theory was/is they are short term holders. These folks (IMO) buy
late in the handle and sell at the breakout. Ex: buy CVH right at the
breakout @32 then sell into the breakout @34.5 - that's a 7.8% gain. I'm not
sure I could pull off such a thing but I would assume others with better
trading resource could and do. Definitely not canslim but IMO it does effect
the breakouts.


In the future, I'll wait till I get home to post as I have more time to
formulate my thoughts without confusing the subject (or completely missing
the point).

- -Bill




- ----- Original Message -----
From: "david frank" <camelot.homes@charter.net>
To: <canslim@lists.xmission.com>
Sent: Wednesday, August 21, 2002 11:04 AM
Subject: Re: [CANSLIM] Too many CANSLIMers?


> Bill, i don't recall any of the recent CANSLIM breakouts making 10+%
except
> for PIXR. nor has CVH - you mentioned CVH on your later post-made people
> much money. nor do i know of these  large number of failed breakouts. if
you
> know otherwise please enlighten us. dave
> ----- Original Message -----
> From: "Bill Triffet" <btriffet@earthlink.net>
> To: <canslim@lists.xmission.com>
> Sent: Wednesday, August 21, 2002 11:52 AM
> Subject: Re: [CANSLIM] Too many CANSLIMers?
>
>
> > 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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> > > > -In the email body, write "subscribe canslim" or
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> > > >
> > > >
> > > > -
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> > > > -"unsubscribe canslim".  Do not use quotes in your email.
> > >
> > >
> > > -
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> >
> >
> > -
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>
>
> -
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> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your email.


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