Go to Jeff Salisbury LWGate Home Page.From: "David Taggart" <dctag@mavericktrading.com>
Subject: FW: [CANSLIM] Breakout Blues
Date: Fri, 23 Aug 2002 13:29:57 -0600
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This is a multi-part message in MIME format. - ------=_NextPart_000_0032_01C24AA9.2C40AE00 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com] > Sent: Friday, August 23, 2002 1:27 PM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] Breakout Blues > > I pretty much agree. Especially being an everything trader. I prefer > Position Trading ala CANSLIM and its off shoots but I also do my share of > swing and day trading. From those I can say that basic basing patterns > like flat bases work in every time frame. I have tried them on weeklies, > dailies, 120 min, 60 min, 30 min, 15 min, 10 min, 5 min, and even a few > times on 1 min, and I can say that it works. The main reason that I like > it is it gives a great risk reward ratio which is really what we are > looking for the best entry we can get to lower our risk. If you buy or > sell short out of a nice flat base then you can place your stop underneath > the base and a lot of times you can have a lot tighter stop then the basic > 7-8%. I use the Cup Handle much the same way with the stop usually > beneath the handle when it is not too deep. But my point is that most > people arent able to use any system well due to their inability to use > stops and good risk management so after a few trades they throw in the > towel and move to the next system. I have seen a lot more successful > different systems than I have successful traders. So go ahead and stick > with CANSLIM it is one of the better systems out there especially for the > person who wants to trade but has a regular job. CANSLIM works better > then most CANSLIM traders. > > David Taggart > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Edward W. Gjertsen > II > Sent: Friday, August 23, 2002 1:00 PM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] Breakout Blues > > > Kelly and others in concern, > > CANSLIM, while gaining popularity, is not even a minor blip and the > investment world's map. What O'Neil imitated from Jack Dreyfus partly > was that good moves are made after a new high is reached. As an > investment advisor, when I explain to clients that we look at buying at > near 52 week or new all-time highs, they look at me in disbelief. 19 > out of 20 times I hear they would rather sell at those levels than buy. > Until the ratio becomes 10 out of 10, I will not be nervous over the > investment discipline. There are many I speak with in our industry that > do not even know about IBD and/or CANSLIM, which on the surface seems > odd, but is natural given all the other disciplines out there. No need > to fret Canslimers, the pond is wide and deep and we are a mere drop of > dew off a petal. > > Have a great weekend. > > Ed Gjertsen II > ed@macktracks.com > > > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com] On Behalf Of Kelly Short > Sent: Friday, August 23, 2002 12:43 PM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] Breakout Blues > > David et al, > > Come on! I'm just starting to feel comfortable with CANSLIM. Don't go > and tell me I have to learn the opposite of CANSLIM now! My head is > spinning- I think I'll go lay down... > > Kelly > > -----Original Message----- > From: David Thompson [mailto:david@epud.net] > Sent: Friday, August 23, 2002 12:13 PM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Breakout Blues > > > Tom and Robert > > One of the concerns that I've had is that one of the principles of > investing is that once a very large group of people start following a > certain investment style it generally stops working. It seems that WON > has kept the C&H style of selecting stocks "fresh" by more and more > carefully defining what's likely to work and likely to not. However, I > suspect that significant growth in IBD (and they say it's growing > quickly, they're certainly giving away a lot of copies) will eventually > make it more worthwhile to trade against or outside the CANSLIM model. > > David Thompson > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > ________________________________________________________________________ > ____ > For your protection, this e-mail message has been scanned for viruses. > Visit us at http://www.neoris.com/ > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". 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