Re: [CANSLIM] Breakout Blues

From: "Bill Triffet" <btriffet@earthlink.net>
Subject: Re: [CANSLIM] Breakout Blues
Date: Fri, 23 Aug 2002 12:29:24 -0700

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Hi Ed,
Without getting into who your clients are,  the issue is only with the large
institutional investors. They are the ones who drive the break-outs - not us
retail fish. Many on the retail side have only heard, "buy low, sell high",
"buy and hold", "dollar cost average" etc. Never, "buy high, sell higher".

 The growth oriented institutional investor/fund manager is far more savvy
(one would think). I think the last bull market created quite a few
"canslimish" traders out of fund managers.

One more important thought: William O'Neal & Co. does far more business
selling his data to fund managers than the individual investor.

- -Bill

- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Friday, August 23, 2002 12:00 PM
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



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