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Subject: Re: [CANSLIM] NXTL, SXT
Date: Fri, 6 Dec 2002 19:58:21 EST
Next Article (by Date): Re: [CANSLIM] Fundamental Philosophies "Tom Worley"
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- --part1_17c.131b9a31.2b22a1ad_boundary Content-Type: text/plain; charset="US-ASCII" Content-Transfer-Encoding: 7bit Tom, I am a fundies first investor too (except with ETFs) and my point was not that fundies do not matter - because they do in the intermediate/long term. But many TA traders make a bundle of money on that first 5-10% of the move without even glancing at the fundies. On the other hand, many very good CANSLIM stocks fail the TA breakout and go below the 8% that requires hardcore CANSLIMers to sell at. After looking at thousands of breakouts going back into the mid 90's in TC2000, I've think it is clear that the odds of a breakout working for the first 4-5 days have nothing to do with fundies. And if the market is sailing upward, then breakouts sail upward (as can be seen by just looking at the last two months). Once the market and the industry group has carried these breakouts up some percent, (I've seen the actual numbers in IBD before), then the only fuel to continue the move is in the fundies. CANSLIM criteria helps identify which have the potential to continue climbing after the "first date" effect wears off. Andy In a message dated 12/6/2002 7:38:34 AM Central Standard Time, stkguru@bellsouth.net writes: > interesting point of view, Andy. In contrast to Katherine, I am a fundies > first type, only after I see what I like there do I start examining the > technicals. On the other hand, to get a list of stocks to examine, I > typically use a list of stocks hitting new highs (e.g. someone else likes > them well enough to actually buy them and drive the price up), so maybe I > am starting with technicals, switching to fundies, then back to different > technicals. > > But bottom line, I have bought a number of stocks where the technicals were > not right at the time, but the fundies were what I looked for. I had > confidence that, in time, the fundies would bring the technicals into line > where those looking first for technicals would become buyers, and make me a > nice profit. More times than not this worked out, but I think you need to > be a long term investor for this attitude to be profitable. > - --part1_17c.131b9a31.2b22a1ad_boundary Content-Type: text/html; charset="US-ASCII" Content-Transfer-Encoding: 7bit <HTML><FONT FACE=arial,helvetica><FONT SIZE=2>Tom,<BR> <BR> I am a fundies first investor too (except with ETFs) and my point was not that fundies do not matter - because they do in the intermediate/long term. But many TA traders make a bundle of money on that first 5-10% of the move without even glancing at the fundies. On the other hand, many very good CANSLIM stocks fail the TA breakout and go below the 8% that requires hardcore CANSLIMers to sell at. <BR> <BR> After looking at thousands of breakouts going back into the mid 90's in TC2000, I've think it is clear that the odds of a breakout working for the first 4-5 days have nothing to do with fundies. And if the market is sailing upward, then breakouts sail upward (as can be seen by just looking at the last two months). Once the market and the industry group has carried these breakouts up some percent, (I've seen the actual numbers in IBD before), then the only fuel to continue the move is in the fundies. CANSLIM criteria helps identify which have the potential to continue climbing after the "first date" effect wears off.<BR> <BR> Andy<BR> <BR> In a message dated 12/6/2002 7:38:34 AM Central Standard Time, stkguru@bellsouth.net writes:<BR> <BR> <BR> <BLOCKQUOTE TYPE=CITE style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px">interesting point of view, Andy. In contrast to Katherine, I am a fundies first type, only after I see what I like there do I start examining the technicals. On the other hand, to get a list of stocks to examine, I typically use a list of stocks hitting new highs (e.g. someone else likes them well enough to actually buy them and drive the price up), so maybe I am starting with technicals, switching to fundies, then back to different technicals.<BR> <BR> But bottom line, I have bought a number of stocks where the technicals were not right at the time, but the fundies were what I looked for. I had confidence that, in time, the fundies would bring the technicals into line where those looking first for technicals would become buyers, and make me a nice profit. More times than not this worked out, but I think you need to be a long term investor for this attitude to be profitable.<BR> </BLOCKQUOTE><BR> <BR> </FONT></HTML> - --part1_17c.131b9a31.2b22a1ad_boundary-- - - - -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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