Re: [CANSLIM] CANSLIM Hunting List Updated 11/22/02

From: Phil Neal <philneal@yahoo.com>
Subject: Re: [CANSLIM] CANSLIM Hunting List Updated 11/22/02
Date: Sun, 24 Nov 2002 09:20:57 -0800 (PST)
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Hi Katherine,

I review all your postings and appreciate your time
and effort...particularly the Hunting List.

Phil
 
- --- Katherine Malm <kmalm@earthlink.net> wrote:
> Hi All,
> 
> I've uploaded the latest CANSLIM Hunting list to:
> 
>
http://WallStreet-LLC.com/canslim/CANSLIMHunting112202.xls
> ( a bit slow to load)
>
http://WallStreet-LLC.com/canslim/CANSLIMHunting112202.zip
> ( a zipped version for download)
> *Please note that these spreadsheets were prepared
> with Excel 2000 for Windows. If you have older
> versions of Excel or use a Mac version, you will not
> be able to view them properly. If you do not have
> Excel, see
>
http://office.microsoft.com/downloads/2000/xlviewer.aspx
> for a free viewer.
> 
> In order to make it to the list, the stock had to
> have a forward growth rate of at least 15%, Price at
> least 6, Avg Daily Vol at least 30K, RS at least 60,
> no more than 15% below the 50 day SMA, and at or
> above the 200 day SMA. This is what I consider to be
> "bare bones" requirements for CANSLIM quality
> stocks. (Note that if you follow stricter CANSLIM
> guidelines, you can use the autofilter feature in
> each column and view only Price>=$12 (or 15) and
> AvgVol>=100000.) Other information included is
> industry name (slightly different than DGO's names,
> but close enough!), price, avg vol, and  links to
> graphs and due diligence sites on the internet. This
> month I've also added links to Mike's and (now my!)
> cwhcharts for each stock which displays U/D volume,
> RS Rank, Comparative RS vs. SPX and more. I've also
> added a couple of additional columns as an outgrowth
> of my recent discussion with Eric J regarding
> relative outperformance of certain stocks and
> strength of potential and current leader stocks.
> You'll find a column for the RS Line since the 10/10
> market low. If the RS Line (RS compared to S&P500)
> has been going up since that date (indicating
> outperformance relative to the market), it is
> indicated with a "+". I've also included a column to
> show the % off the 52 week high for those that keep
> their eye focused on such things. Also note that
> there are 4 sheets in the workbook, though this is
> easy to overlook. The first sheet has the listed
> stocks, but others include a list of stocks dropped
> from the list, a summary of stocks by sector, and a
> sheet with misc. links for free info on the web.
> 
> If you'd like to look at last month's hunting list,
> you will find it at:
> 
>
http://WallStreet-LLC.com/canslim/CANSLIMHunting101802.xls
> or
>
http://WallStreet-LLC.com/canslim/CANSLIMHunting101802.zip
> 
> This month there are 476 names, up a whopping 105
> names from the list I posted last month just after
> the FTD.  This month, 125  names fell from the list,
> 230 new names came on board and 246 names are
> repeats. Though rotation on the list is still fairly
> severe, the large number of repeats does show some
> marked improvement over what I've seen in the last
> year. It's an encouraging sign that money seems to
> continue to flow out of defensive names such as
> REITS, Mining and Healthcare (hospitals/HMO's) and
> into growth areas such as Healthcare
> equipment/instruments and Business Sevices. Of
> particular note this month is the high
> representation of media stocks. As a sign of
> *economic* strength (though not necessarily market
> strength), this is very important. 19 names show on
> the list and represent both print and broadcast
> media. AOL also announced recently that they see a
> strengthening demand for advertising. This is an
> important sign, because media is typically one of
> the strong sectors leading out of economic
> reversionary periods. As the market is a discounting
> mechanism, this then bodes well. Other areas with
> good representation are telecom (select cellular and
> equipment companies), computer services and business
> services. I don't see it as particularly troubling
> that more retailers don't show on the list. The
> consumer stocks have dominated over the past 20 (or
> so) years and I don't think it would be out of the
> question there would be a substantial secular shift
> to capital goods and other quasi-cyclical sectors in
> the future. Tech supports many industries and great
> growth stocks don't necessarily have to come from
> consumer related businesses (though it is true many
> growth companies do typically come from innovative
> retailers.) It's also interesting to me that Biotech
> is well represented on this month's list with 14
> names. While this is a high-risk sector, it is
> encouraging to see institutional money flow to it.
> Many believe biotech will be the most important
> growth industry going forward. I am also not
> troubled by the flow of money *out* of homebuilders
> and related stocks. Again, the market is a
> discounting mechanism. That means that if money is
> flowing out of this sector, the growth in housing,
> etc.will decline. People may not be building new
> houses at a pace equal to the last 10-15 years in
> the future, but it's a fallacy to conclude that the
> consumer will no longer be healthy and spend money.
> The laborers and supporting businesses will shift to
> other industries as a result in the same way that
> they did when the oil industry collapsed in the
> early '80's. Take a trip to Houston today and you'll
> find it a far different city than it was at that
> time--still a lot of oil money, but a far more
> diverse group of businesses than 20 years ago.
> 
> With a follow-through day under our belts, decent
> (though certainly not perfect, and still suspect)
> action in recent breakouts and a list of hunting
> candidates composed of less defensive names and more
> fully populated with innovative companies, it's an
> encouraging sign that we may be in for an
> intermediate term rally of some consequence. It's
> still a jungle out there....be sure to honor all
> your buy *and* sell rules!!
> 
> One last note...I'm aware that there are many who
> will not use a list stocks such as this (and
> rightfully so), but it's always difficult to tell if
> the spreadsheet is useful to enough people on the
> CANSLIM list to continue to spend the time it takes
> to prepare each month. As there is no way to monitor
> the number of downloads, I'll need some individual
> feedback to gauge the value to the list. Tom Worley
> has often expressed the same sentiment from time to
> time given the amount of effort he puts into his
> weekly Weekend Weeview, so I am following his lead
> to get a pulse point.
> 
> Happy Hunting,
> Katherine


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