Go to Jeff Salisbury LWGate Home Page.From: Tom Mc Dermitt <prcfl@comcast.net>
Subject: re[2]: [CANSLIM] CANSLIM Hunting List Updated 11/22/02
Date: Mon, 25 Nov 2002 10:13:28 -0500
Next Article (by Date): Re: [CANSLIM] CANSLIM Hunting List Updated 11/22/02 Eric Jaenike
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Katherine: I have been a "lurker" on the list for some time....I am typically short of time to do much researching for CANSLIM candidates as well as the detailed analysis that must follow once I have identified a "suspect" stock. Your spreadsheet will be a great "timesaver" for me as I utilize the CANSLIM method to identify, analyze, select, and purchase stocks using the CANSLIM method. One other comment that I might make about this CANSLIM list is that the members seem to be a conscientious, helping each other type group as opposed to a list of "flamers" who are more adept at making gratuitious remarks than making a contribution to the general welfare of the group! Regards (and keep up the good work....it IS appreciated! Tom Mc Dermitt >> Oops...that should read "leading out of economic recessionary periods" not >> "leading out of economic reversionary periods" >> ----- Original Message ----- >> From: Katherine Malm >> To: canslim@lists.xmission.com >> Sent: Sunday, November 24, 2002 10:49 AM >> Subject: [CANSLIM] CANSLIM Hunting List Updated 11/22/02 >> 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 Tom Mc Dermitt PRC 941-925-3759 Phone 941-921-7524 Fax prc@staffing.net www.topechelon.com/fl46 - - - -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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