[CANSLIM] Is the board up

From: "charles wilfong" <10charles@email.msn.com>
Subject: [CANSLIM] Is the board up
Date: Sun, 22 Sep 2002 22:15:56 -0400

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Is the board up. I have not been receiving messages since this one.

- ---- Original Message ----- 
From: "James Bond" <james_bond_3rd@yahoo.com>
To: <canslim@lists.xmission.com>
Sent: Saturday, September 21, 2002 10:19 PM
Subject: shorting: was RE: [CANSLIM] COCO


> It's interesting that a group focusing on the
> relatively conservative method of CANSLIM has started
> to discuss short strategies. Is it a sign that we're
> close to a bottom?
> 
> My 2 cents on shorting: 1. Shorting is hard; 2.
> Shorting is harder in the third year of a bear market;
> 3. Shorting is even harder when short interest is
> approaching the highest level in 5 years. I have
> shorted a few stocks with some success last year. This
> year I had much less success and was so frustrated I
> have not shorted anything since June.
> 
> Yes, the inverse of CANSLIM would be a good starting
> point for considering a short - but only a starting
> point. A successful short requires perfect timing,
> because the stock market is designed against short
> sellers. Not only one needs to catch the correct entry
> point, it also has to be entered during an uptick. The
> problem is, using the inverse CANSLIM type pivot point
> will never allow an entry because stocks will crash
> through the "pivot point" without generating an
> uptick. And those do generate upticks close to ideal
> entry points are usually the wrong stocks to short.
> 
> For me, best short candidates are very different than
> the reverse of long candidates. The safest shorts are
> the climax runs (I haven't seen these in a long time).
> In those cases the day of the top usually jumps out in
> the chart. The reverse situation, a climax selloff
> bottom, is very very hard to determine. The second
> safest shorts are failed breakouts. These are not
> inverted CwH's but the normal CwH's with broken
> handles or failed to hold new highs after BO. Shorting
> off continuation patterns such as inverted CwH
> patterns requires a lot of skill.
> 
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