Go to Jeff Salisbury LWGate Home Page.From: "Norman" <theboyd@tisd.net>
Subject: Re: [CANSLIM] Breakout Blues
Date: Sun, 25 Aug 2002 17:31:54 -0500
Previous Article (by Date): RE: [CANSLIM] CANSLIM Hunting List 08/23/02 "Mike Gibbons"
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I had no trouble reading it with Lookout Express. Look great. Hermann, which mail client are you using? Norm - ----- Original Message ----- From: "Mike Gibbons" <mikegibbons@proactech.com> To: <canslim@lists.xmission.com> Sent: Sunday, August 25, 2002 4:01 PM Subject: RE: [CANSLIM] Breakout Blues > Hi All, > > Hermann has advised me off list that my posting of recent breakouts was not easily readable yesterday. > > In case anyone else had a problem with it (it was in html format) the source material is available here: > > http://www.cwhcharts.com/WON_brkouts.html > http://www.cwhcharts.com/HIGH_brkouts.html > > Aloha, > > Mike Gibbons > Proactive Technologies, LLC > http://www.proactech.com > -----Original Message----- > From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Mike Gibbons > Sent: Saturday, August 24, 2002 9:31 AM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] Breakout Blues > > > Thought I'd just chip in with some anecdotal evidence of breakouts from CwH formations that I've identified since the July 24 low > and how they've fared through market close yesterday. A breakout is a stock that closed above its pivot on the breakout date with at > least 150% ADV. > > The evidence shows that breakouts are mostly either failing or not sustaining their gains in a significant way. The number of > stocks in the sample is too small to draw any scientific conclusions from, but are interesting nevertheless. > > The first table is of breakouts from a CwH formation with a minimum 5 day handle and within 15% of their left cup high. As of > yesterday all but one of them was still above the pivot, but only just, and were substantially down from their high water mark. > > Breakout Symbol CANSLIM Score Brk Out B'out Day B'out Day Last Last Change Change *Gain at > Date Price Close Volume Price Volume % Intraday High > 8/22/2002 ANSI 7.2 35.44 36.32 1496400 35.6389 546100 0.2 0.56% 5.11% > 8/21/2002 GISX 6.7 21.25 22.1 870300 21.32 202200 0.07 0.33% 7.29% > 8/21/2002 FNF 5.2 31.23 31.5 1250400 30.92 565200 -0.31 -0.99% 4.29% > 8/19/2002 CVH 6.5 32.44 33.7 1705600 32.47 1000200 0.03 0.09% 7.12% > 8/15/2002 CSTR 7 31.12 32.94 728100 31.2974 239600 0.18 0.58% 9.90% > > > The second table is of breakouts from a minimum two day handle and within 22% of the left cup high. In this group only two are > above water, which appears to confirm that breakouts from short handles are more suspect. Interestingly, INTL had a 5 day handle > when it broke out. However, the potential gain from this group was greater for the swing trader. Greater risk, but greater potential > return? > > Breakout Symbol CANSLIM Score Brk Out B'out Day B'out Day Last Last Change Change *Gain at > Date Price Close Volume Price Volume % Intraday High > 8/19/2002 AMSG 8.1 31.82 33.05 648900 30.97 223500 -0.85 -2.67% 6.38% > 8/14/2002 INTL 6.7 21.45 21.86 388900 25 352200 3.55 16.55% 25.87% > 8/14/2002 BPOP 7.7 35.21 35.65 263200 34.91 105100 -0.3 -0.85% 2.53% > 8/14/2002 XRAY 7.8 41.11 42.11 1040300 40.382 802100 -0.73 -1.78% 5.81% > 8/8/2002 XRAY 7.8 40 40.91 864900 40.382 802100 0.38 0.95% 8.75% > 7/30/2002 TELK 4.6 13.65 13.75 528100 13.08 179300 -0.57 -4.18% 13.04% > > > As I said, there are too few stocks here to draw any conclusions from, but the results are anecdotally interesting. > > > Aloha, > > Mike Gibbons > Proactive Technologies, LLC > http://www.proactech.com > > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman > Sent: Saturday, August 24, 2002 5:43 AM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Breakout Blues > > > I think CAN SLIM is working great. If we are following the rules then we > have very limited exposure to the M right now. Sure we have seen some > confirmation days but are we seeing good numbers of leading > industries/companies breaking out of sound bases? Not for my tastes. > Sitting in cash because the rules say so is a positive position, IMO. As we > say in science; if you have a measurement of zero, that is as good as any > other non-zero measurement, it is still what was observed in the sample. > Not having any exposure to a M because some of the CAN SLIM rules keep you > out is not to say the method isn't working. > > Just my $0.02. > > Norm > > ----- Original Message ----- > From: "Dan Forant" <dforant1@nycap.rr.com> > To: <canslim@lists.xmission.com> > Sent: Saturday, August 24, 2002 4:55 AM > Subject: Re: [CANSLIM] Breakout Blues > > > > The market itself makes or brakes CANSLIM. Look at yesterdays fall, only 2 > > stocks out of the Nasdaq 100 moved up. In a bear or choppy market CANSLIM > > will not be successful as advertised. It's been awhile since CANSLIM has > > dusted itself off and worked. This market action could go on for a year or > > more. When CANSLIM does get it's chance it will shine. I still say it's a > > simple concept to practice. If you put it under a microscope it can get > > blurred. > > > > DanF > > > > > > ----- Original Message ----- > > From: "Tom Worley" <stkguru@bellsouth.net> > > To: <canslim@lists.xmission.com> > > Sent: Friday, August 23, 2002 11:07 PM > > Subject: Re: [CANSLIM] Breakout Blues > > > > > > > I disagree. Over the many years I have been using CANSLIM, and the past > > six > > > participating in this "niche" investing group, I have seen too many > people > > > that "thought" they knew CANSLIM and how to apply it. In some cases, > they > > > had not even read HTMMIS once, much less studied it. If I multiply the > > > membership of this group by some unknown factor to represent the > > population > > > of investors that got a free two week subscription to IBD and now > "think" > > > they have the hang of CANSLIM, but never were a member here, then I > think > > > there are likely millions of potential investors that will lose money on > > the > > > basis of their perception of CANSLIM, and thereby condemn the system > > rather > > > than their lack of knowledge or effort to learn. > > > > > > ----- Original Message ----- > > > From: "David Thompson" <david@epud.net> > > > To: <canslim@lists.xmission.com> > > > Sent: Friday, August 23, 2002 1:13 PM > > > 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. > > > > > > > > > > > > > > > - > > > -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". Do not use quotes in your email. > > > > > > > - > -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". Do not use quotes in your email.
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