Go to Jeff Salisbury LWGate Home Page.From: Sol Mayer <smaye1211@yahoo.com>
Subject: RE: [CANSLIM] M
Date: Fri, 22 Nov 2002 08:30:46 -0800 (PST)
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thanks for the posting and the interesting observation .I always find your comments very thoughtful and sensible. thanks
"Edward W. Gjertsen II" <ed@macktracks.com> wrote:
We have found this recent rise to be of great interest. What we found over the prior 34 months that when we bought leaders and were then forced to sell - the next time any opportunities came to buy again was at least 2-4 months later. This last time around – it was 4 weeks. This meant, in our opinion, that sellers were losing control. We are now approximately 30% invested and climbing. During a CANSLIM seminar with WON, one thing has stood out at us. WON mentioned that there are very, very few perfect CANSLIM candidates. We try to use weight of the evidence. This is not a pick and chose rule, but if things are not perfect, what would tip the scales for us to purchase. One big item which I hope starts its own life as a thread is position sizing. We began purchasing ½ positions to place a toe in the water. As stocks came under some pressure, we then added to positions at key technical points. We believe last Friday was a turning point for the markets. On the weekly television/internet show I participate in, I mentioned how well the market reacted to negative news. Intel downgrade, bad economic numbers, etc. The Michigan consumer sentiment provided a boost, but the market did not buckle to all the bad news, very impressive. Our firm held client seminars on September 18 and 21st titled the “End is Near”. This was the first time since Oct ’99 that we have been positive on the market. The name of the seminar was an attention getter, but the message was clear. We believe, as we do today, that there is a cyclical (short-term, 3-6 month) opportunity here to make some money in the market. We are still in a secular bear market until we are proven otherwise. But in the meantime, we are buying. As always, I am very impressed with the depth of knowledge this group brings to the table. As this market heats up, I look forward to reading all your comments.
Ed Gjertsen II
ed@macktracks.com
- -----Original Message-----
From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Ian
Sent: Thursday, November 21, 2002 3:23 PM
To: canslim@lists.xmission.com
Subject: [CANSLIM] M
Is anyone else finding any "NEW" winners emerging from this buying frenzy?
It seems to me that several recent rally leaders are rolling over ugly today - HITK, LCI, ACET - while the indices power ahead, propelled by the most heavily shorted isues.
It is also baffling to me that the sectors that stand to benefit the most from coming increases in government spending - the defense and security sector - are watching this action from the sideline as well.
So am I mising the new leaders of the bull, or is this just shot-term traders using liquidity to squeeze heavily shorted positions? Opinions? Whither 'M'?
Ian
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<P>thanks for the posting and the interesting observation .I always find your comments very thoughtful and sensible. thanks
<P> <B><I>"Edward W. Gjertsen II" <ed@macktracks.com></I></B> wrote:
<BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid">
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<P class=MsoNormal><FONT face="Times New Roman" color=blue size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue">We have found this recent rise to be of great interest. What we found over the prior 34 months that when we bought leaders and were then forced to sell - the next time any opportunities came to buy again was at least 2-4 months later. This last time around – it was 4 weeks. This meant, in our opinion, that sellers were losing control. We are now approximately 30% invested and climbing. During a CANSLIM seminar with WON, one thing has stood out at us. WON mentioned that there are very, very few perfect CANSLIM candidates. We try to use weight of the evidence. This is not a pick and chose rule, but if things are not perfect, what would tip the scales for us to purchase. One big item which I hope starts its own life as a thread is position sizing. We began purchasing ½ positions to place a toe in the water. As stocks came under some pressure, we then added to positions at key technical points. We believe last Friday was a turning point for the markets. On the weekly television/internet show I participate in, I mentioned how well the market reacted to negative news. Intel downgrade, bad economic numbers, etc. The </SPAN></FONT><FONT color=blue size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue">Michigan</SPAN></FONT><FONT color=blue size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue"> consumer sentiment provided a boost, but the market did not buckle to all the bad news, very impressive. Our firm held client seminars on September 18 and 21st titled the “End is Near”. This was the first time since Oct ’99 that we have been positive on the market. The name of the seminar was an attention getter, but the message was clear. We believe, as we do today, that there is a cyclical (short-term, 3-6 month) opportunity here to make some money in the market. We are still in a secular bear market until we are proven otherwise. But in the meantime, we are buying. As always, I am very impressed with the depth of knowledge this group brings to the table. As this market heats up, I look forward to reading all your comments.</SPAN></FONT></P>
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<DIV>
<P class=MsoNormal><FONT face="Times New Roman" color=blue size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue">Ed Gjertsen II</SPAN></FONT></P>
<P class=MsoNormal><FONT face="Times New Roman" color=blue size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue"><A href="mailto:ed@macktracks.com">ed@macktracks.com</A></SPAN></FONT></P>
<P class=MsoNormal><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original Message-----<BR><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B> owner-</SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> [mailto:owner-</SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">] <B><SPAN style="FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Ian<BR><B><SPAN style="FONT-WEIGHT: bold">Sent:</SPAN></B> </SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">Thursday, November 21, 2002</SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> </SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">3:23 PM</SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"><BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B> </SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">canslim@lists.xmission.com</SPAN></FONT><FONT face=Tahoma size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"><BR><B><SPAN style="FONT-WEIGHT: bold">Subject:</SPAN></B> [CANSLIM] M</SPAN></FONT></P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=2><SPAN style="FONT-SIZE: 10pt">Is anyone else finding any "NEW" winners emerging from this buying frenzy?</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=2><SPAN style="FONT-SIZE: 10pt">It seems to me that several recent rally leaders are rolling over ugly today - HITK, LCI, ACET - while the indices power ahead, propelled by the most heavily shorted isues.</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=2><SPAN style="FONT-SIZE: 10pt">It is also baffling to me that the sectors that stand to benefit the most from coming increases in government spending - the defense and security sector - are watching this action from the sideline as well.</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=2><SPAN style="FONT-SIZE: 10pt">So am I mising the new leaders of the bull, or is this just shot-term traders using liquidity to squeeze heavily shorted positions? Opinions? Whither 'M'?</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman" size=2><SPAN style="FONT-SIZE: 10pt">Ian</SPAN></FONT></P></DIV></DIV></BLOCKQUOTE><p><br><hr size=1>Do you Yahoo!?<br>
<a href="http://rd.yahoo.com/mail/mailsig/*http://mailplus.yahoo.com">Yahoo! Mail Plus</a> - Powerful. Affordable. <a href="http://rd.yahoo.com/mail/mailsig/*http://mailplus.yahoo.com">Sign up now</a>
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