Re: [CANSLIM] Breakout Blues

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] Breakout Blues
Date: Fri, 23 Aug 2002 23:26:30 -0400

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Ed, nice to know that little has changed (including the 19 out of 20 shocked
clients at the concept of buying high and selling much higher) in the 8
years since I left the marketing side of the brokerage business.

- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Friday, August 23, 2002 3:00 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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