Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] Big Money AGAIN, oh dear! Hay look Andy!
Date: Sat, 28 Dec 2002 06:13:20 -0500
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Hi Cindy,
Welcome to the group, and CANSLIM. This is a good place to learn and ask =
questions, although it is pretty quiet right now. This is also a good =
time to paper trade, whether you are just starting out, or are a more =
experienced investor, as "M" continues to say stay in cash.
I use http://cbs.marketwatch.com/tools/stockresearch/screener for my =
initial screening. It's free, it's simple, both suit me. My best advice =
in setting up a screen is keep it simple, and set the parameters outside =
your comfort zone. Don't try to zoom directly into the list of perfect =
stocks that suit you, that virtually eliminates the human element, as =
well as eliminating a stock that may just miss one criteria, but be =
screaming a buy on all others. There are many other sites that also have =
free screening, this just happens to be one I am familiar with and have =
been using for several years.
Good luck,
- ----- Original Message -----=20
From: c bourgeois=20
To: canslim@lists.xmission.com=20
Sent: Saturday, December 28, 2002 5:54 AM
Subject: Re: [CANSLIM] Big Money AGAIN, oh dear! Hay look Andy!
JC,=20
I was delighted to read your post this morning. As a new subscriber =
to IBD and CANSLIM (have received my paper for a week now), I was =
looking for a way to put all this information together and develop a =
list of candidates. I had already decided to use a screener and have =
been fiddling with MultexInvestor - free at www.multexinvestor.com - =
before investing in a pricier system. I plan to paper trade my picks to =
gain knowledge and confidence that I am recognizing pivot points. I =
would be interested to hear recommendations for free screeners that may =
be superior to the one I use and also which parameters to select for =
screening that follow the CANSLIM criteria. I am also interested in =
hearing pros and cons of using the IBD premium tools vs.other available =
screening software. Anyone care to comment?=20
Cindy B.=20
John Calkins <jcalkins@olypen.com> wrote:=20
Hi Andy, Katherine, Mike or maybe anyone who sees things this way.
I don't know if you have seen some of my original posts where I =
demonstrated how I mined the paper (IBD)physically for data. I did this =
because first I was a beginner and wanted to have firmly established =
something in my mind that I could hang my hat on. The sorting of my =
database worked similar to yours,Andy and Katherine's although on a much =
simpler scale because mine was a sort of a sort (sort of speek..ha!). =
This worked for me for about 4 years until I ran out of time and =
patients with the paper. Also, as you say, I knew there were better =
ways to get the data, technology has made it possible to have a high =
speed internet for quick downloads, a laptop to take the offline data =
with me and an established backbone to keep from straying too far off =
what I have learned. At first I was like a kid in a candy store and =
couldn't make up my mind, but the more I follow a plan, the better I =
feel about it.
Your's, Andy, and Katherine's was probably the best advice for me to =
use the paper as a follow up. I now have the tools to look for a =
screener (a wireless laptop and highspeed internet). I understand what =
you and Katherine have done with the Excel sheets for doing the sorting =
of the data, now I just need to try a site as you say. My only problem =
here is that I would like to try a couple of free sites like MSN to at =
least get the terminology down so I don't get too confused right off. I =
read through Your and Katherine's sheets and see how you sift through =
your picks. I'm confidant I can follow your guide.
I guess I am kind of hung up on this one very important caractristic =
of CANSLIM that I just cannot seem to get past. VOLUME. As I looked at =
the paper, all my data started with high volume first as to try to =
follow the right side of the cup up to its pivot point. This seemed to =
eliminate the unnessary screening when I was using the manual data entry =
method. I have brought this up repeatidly in this forum. IBD and WON =
make such a big deal about volume. I notice how quiet the general media =
is about it. It's like I have the key to one of the Myst Worlds or =
something.
I know that V for VOLUME is not one of the CANSLIM accronymns, but I =
believe it is in the "I" for institutional sponcership. If you don't =
have ABOVE AVERAGE VOLUME in the right side of the cup, then from what I =
have read, you don't have a Full CANSLIM canidate.
I see from your sheet, you show average volume such as Katherine does. =
You have a scoring system on your personal cryteria. I'm guessing that =
Katherine sticks with her forward growth > 15%, Price > $6, Average =
Daily Volume > 30, RS >60, < 15% Below 50 day MA, > (above) 200 day MA. =
Then does she manually look at each and every stock on a chart to see if =
it has a proper base? Is this what you do too? You don't have as many =
stocks in your list, and I haven't tried to examine their charts to see =
if you picked these because of their=20
bases.
OR NOW, because of my tools, do I just enter as close to my prefered =
CANSLIM cyteria into the screener that I feel the most comfortable with =
and end up with a few hundred stocks and simply bring up each and every =
chart and build some sort of chart scoring system that I can sort to =
give me my list.
I understand when building a database that you need to start with the =
final product and work backwards. So in this case (and what I did with =
the paper) is to get my list down to a managable size of stocks that =
were close to their piviots to send myself cell phone alerts and emails =
to get my attention so I can do my day job.
I understand that I could just simply take out a subscription to a =
service that does most of this for me such as what Mike and Katherine =
have but the reason I got involved in CANSLIM in the first place was =
because I had someone else doing most of it for me. I might have stayed =
with them but not understanding how everything worked made me feel like =
something was wrong with the method. So before I can feel confident in =
using a service that takes most of the work out of this method, I need =
to prove to myself what I'm looking at. After I see that this is indeed =
the method that I want, and I know that to be a fact, to build on the =
confidence to replicate the data as close as possible to end up with =
similar results is my goal as is everyone else's.
In screening for volume, do you recommed that I fiddle around with one =
of the free sites or do you have a site you know of that might help me =
with this. Am I beating a dead horse with this, do you get the same =
results when you screen, somehow, for stocks <=3D 15% of 52 week high =
and then just flip through the charts like grease lightning! If I could =
just mind meld with a few of you for a few hours, I won't have to =
reinvent the wheel again or rewrite "The Universe in a Nutshell"!
Thanks any input.
JC
=20
----- Original Message -----=20
From: AJAskey@aol.com=20
To: canslim@lists.xmission.com=20
Sent: Sunday, November 17, 2002 11:56 AM
Subject: Re: [CANSLIM] stock chart
In a message dated 11/17/2002 12:10:16 PM Central Standard Time, =
jcalkins@olypen.com writes:
Now let me get this straight. This group is studying WON's concept =
of CANSLIM. Granted, it doesn't mean you need to take a subscription to =
his paper to follow his teaching, BUT! How do you find the quality =
stocks that the big money is moving into? I use IBD's Where The Big =
Money's Flowing to get started with my lists. This follows everything =
that WON teaches. If you do not get the paper, then how do you find =
those same stocks?
JC,
Almost everything that IBD provides can be calculated and screened =
thru subscriptions to other data services such as AAII Stock Investor =
Pro and TC2000. These relatively inexpensive services did not exist =
when IBD was created but are popping up regularly since the internet has =
made it into everyones home. I am hoping that IBD recognizes this and =
somehow provides more data or it will eventually go out of business. =
DGO provides services to screen stocks but they are extremely overpriced =
and under featured based on what is available for free of fee elsewhere.
I subscribe to IBD because I like the articles and the constant =
reminders of CANSLIM rules, but not because I cannot find stocks that =
have the best IBD rankings without IBD. In fact, using only IBD EPS =
ranking stocks of 80 or better will keep one out of some of the future =
best performing stocks. (See a recent "Ask Bill" question as IBD states =
this.) By using a tool that screens the fundamentals instead of the =
rankings, one will find the best stocks that may miss some arbitrary cut =
off by a statistically anomally. By this I mean it makes more sense to =
screen for companies meeting CANSLIM criteria than to look at a subset =
of stocks that a good growers to determine if they meet CANSLIM =
criteria. Stocks that meet CANSLIM criteria will magically have good =
IBD rankings. If I wanted I could buy one IBD every week or two for =
verification of my data.
To try to duplicate the actual IBD rankings requires some =
programming knowledge and therefore everyone cannot do it. I do it as I =
don't want to tie my future to a paper that may go out of business at =
some point. But my point is that IBD does not do anything mystical to =
generate this information and the rankings are not the most important =
thing needed to find quality growers. The data behind the rankings is =
more important and the data is not available from IBD.
Andy=20
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<DIV><FONT face=3DArial>Hi Cindy,</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Welcome to the group, and CANSLIM. This is a =
good place to=20
learn and ask questions, although it is pretty quiet right now. This is =
also a=20
good time to paper trade, whether you are just starting out, or are a =
more=20
experienced investor, as "M" continues to say stay in cash.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>I use <A=20
href=3D"http://cbs.marketwatch.com/tools/stockresearch/screener">http://c=
bs.marketwatch.com/tools/stockresearch/screener</A> for=20
my initial screening. It's free, it's simple, both suit me. My best =
advice in=20
setting up a screen is keep it simple, and set the parameters outside =
your=20
comfort zone. Don't try to zoom directly into the list of perfect stocks =
that=20
suit you, that virtually eliminates the human element, as well as =
eliminating a=20
stock that may just miss one criteria, but be screaming a buy on all =
others.=20
There are many other sites that also have free screening, this just =
happens to=20
be one I am familiar with and have been using for several =
years.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Good luck,</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3Duptickchick2003@yahoo.com =
href=3D"mailto:uptickchick2003@yahoo.com">c=20
bourgeois</A> </DIV>
<DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV><B>Sent:</B> Saturday, December 28, 2002 5:54 AM</DIV>
<DIV><B>Subject:</B> Re: [CANSLIM] Big Money AGAIN, oh dear! Hay look=20
Andy!</DIV></DIV>
<DIV><BR></DIV>
<P>JC,=20
<P> I was delighted to read your post this morning. As a new =
subscriber to IBD and CANSLIM (have received my paper for a week =
now), I=20
was looking for a way to put all this information together and develop a =
list of=20
candidates. I had already decided to use a screener and have been =
fiddling=20
with MultexInvestor - free at <A=20
href=3D"http://www.multexinvestor.com">www.multexinvestor.com</A> - =
before=20
investing in a pricier system. I plan to paper trade my picks to =
gain=20
knowledge and confidence that I am recognizing pivot points. I =
would be=20
interested to hear recommendations for free screeners that may be =
superior to=20
the one I use and also which parameters to select for screening that =
follow the=20
CANSLIM criteria. I am also interested in hearing pros and cons of =
using=20
the IBD premium tools vs.other available screening software. =
Anyone care=20
to comment?=20
<P>Cindy B.=20
<P> <B><I>John Calkins <jcalkins@olypen.com></I></B> wrote:=20
<BLOCKQUOTE=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px =
solid">
<META content=3D"MSHTML 6.00.2722.900" name=3DGENERATOR>
<STYLE></STYLE>
<DIV>
<DIV><FONT face=3DArial size=3D2>Hi Andy, Katherine, Mike or maybe =
anyone who sees=20
things this way.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I don't know if you have seen some of =
my original=20
posts where I demonstrated how I mined the paper (IBD)physically for=20
data. I did this because first I was a beginner and wanted to =
have=20
firmly established something in my mind that I could hang my hat =
on. The=20
sorting of my database worked similar to yours,Andy and Katherine's =
although=20
on a much simpler scale because mine was a sort of a sort (sort of=20
speek..ha!). This worked for me for about 4 years until I =
ran out=20
of time and patients with the paper. Also, as you say, I knew =
there were=20
better ways to get the data, technology has made it possible to have a =
high=20
speed internet for quick downloads, a laptop to take the offline data =
with me=20
and an established backbone to keep from straying too far off what I =
have=20
learned. At first I was like a kid in a candy store and couldn't =
make up=20
my mind, but the more I follow a plan, the better I feel about=20
it.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Your's, Andy, and Katherine's =
was probably=20
the best advice for me to use the paper as a follow up. I now =
have the=20
tools to look for a screener (a wireless laptop and highspeed =
internet). =20
I understand what you and Katherine have done with the Excel sheets =
for doing=20
the sorting of the data, now I just need to try a site as you say. My =
only=20
problem here is that I would like to try a couple of free sites like =
MSN to at=20
least get the terminology down so I don't get too confused right =
off. I=20
read through Your and Katherine's sheets and see how you sift through =
your=20
picks. I'm confidant I can follow your guide.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=3DArial size=3D2>I guess I am kind of hung up =
on this one=20
very important caractristic of CANSLIM that I just cannot seem to =
get=20
past. VOLUME. As I looked at the paper, all=20
my data started with high volume first as to try to follow =
the right=20
side of the cup up to its pivot point. This seemed to eliminate =
the=20
unnessary screening when I was using the manual data entry =
method. I=20
have brought this up repeatidly in this forum. IBD and WON =
make=20
such a big deal about volume. I notice how quiet the =
general=20
media is about it. It's like I have the key to one of the Myst =
Worlds or=20
something.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I know that V for VOLUME is not one =
of the=20
CANSLIM accronymns, but I believe it is in the "I" for institutional=20
sponcership. If you don't have ABOVE AVERAGE VOLUME in the right =
side of=20
the cup, then from what I have read, you don't have a Full CANSLIM=20
canidate.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I see from your sheet, you show =
average volume=20
such as Katherine does. You have a scoring system on your =
personal=20
cryteria. I'm guessing that Katherine sticks with her forward =
growth=20
> 15%, Price > $6, Average Daily Volume > 30, RS >60, < =
15%=20
Below 50 day MA, > (above) 200 day MA. Then does she manually =
look at=20
each and every stock on a chart to see if it has a proper base? =
Is this=20
what you do too? You don't have as many stocks in your list, and =
I=20
haven't tried to examine their charts to see if you picked these =
because of=20
their </FONT></DIV>
<DIV><FONT face=3DArial size=3D2>bases.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>OR NOW, because of my tools, do =
I just=20
enter as close to my prefered CANSLIM cyteria into the screener that I =
feel=20
the most comfortable with and end up with a few hundred stocks and =
simply=20
bring up each and every chart and build some sort of chart scoring =
system that=20
I can sort to give me my list.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I understand when building a database =
that you=20
need to start with the final product and work backwards. So in =
this case=20
(and what I did with the paper) is to get my list down to a =
managable=20
size of stocks that were close to their piviots to send myself cell =
phone=20
alerts and emails to get my attention so I can do my day=20
job.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I understand that I could just =
simply take=20
out a subscription to a service that does most of this for me such as =
what=20
Mike and Katherine have but the reason I got involved in CANSLIM in =
the first=20
place was because I had someone else doing most of it for me. I =
might=20
have stayed with them but not understanding how everything worked made =
me feel=20
like something was wrong with the method. So before I can feel =
confident=20
in using a service that takes most of the work out of this method, I =
need to=20
prove to myself what I'm looking at. After I see that this is =
indeed the=20
method that I want, and I know that to be a fact, to build on the =
confidence=20
to replicate the data as close as possible to end up with similar =
results is=20
my goal as is everyone else's.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>In screening for volume, do you =
recommed that I=20
fiddle around with one of the free sites or do you have a site you =
know of=20
that might help me with this. Am I beating a dead horse with =
this, do=20
you get the same results when you screen, somehow, for stocks <=3D =
15% of 52=20
week high and then just flip through the charts like grease =
lightning! =20
If I could just mind meld with a few of you for a few hours, I won't =
have to=20
reinvent the wheel again or rewrite "The Universe in a =
Nutshell"!</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks any input.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>JC</FONT></DIV> </DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3DAJAskey@aol.com =
href=3D"mailto:AJAskey@aol.com">AJAskey@aol.com</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, November 17, =
2002 11:56=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] stock=20
chart</DIV>
<DIV><BR></DIV><FONT face=3Darial,helvetica><FONT size=3D2>In a =
message dated=20
11/17/2002 12:10:16 PM Central Standard Time, <A=20
href=3D"mailto:jcalkins@olypen.com">jcalkins@olypen.com</A>=20
writes:<BR><BR><BR>
<BLOCKQUOTE=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #0000ff =
2px solid; MARGIN-RIGHT: 0px"=20
TYPE=3D"CITE">Now let me get this straight. This group is studying =
WON's=20
concept of CANSLIM. Granted, it doesn't mean you need to =
take a=20
subscription to his paper to follow his teaching, BUT! How =
do you=20
find the quality stocks that the big money is moving into? I =
use=20
IBD's Where The Big Money's Flowing to get started with my =
lists. =20
This follows everything that WON teaches. If you do not get =
the=20
paper, then how do you find those same stocks?</FONT><FONT =
lang=3D0=20
style=3D"BACKGROUND-COLOR: #ffffff" face=3DArial color=3D#000000 =
size=3D3=20
FAMILY=3D"SANSSERIF"><BR></BLOCKQUOTE><BR></FONT><FONT lang=3D0=20
style=3D"BACKGROUND-COLOR: #ffffff" face=3DArial color=3D#000000 =
size=3D2=20
FAMILY=3D"SANSSERIF"><BR>JC,<BR><BR>Almost everything that IBD =
provides can be=20
calculated and screened thru subscriptions to other data services =
such as=20
AAII Stock Investor Pro and TC2000. These relatively =
inexpensive=20
services did not exist when IBD was created but are popping up =
regularly=20
since the internet has made it into everyones home. I am =
hoping that=20
IBD recognizes this and somehow provides more data or it will =
eventually go=20
out of business. DGO provides services to screen stocks but =
they are=20
extremely overpriced and under featured based on what is available =
for free=20
of fee elsewhere.<BR><BR>I subscribe to IBD because I like the =
articles and=20
the constant reminders of CANSLIM rules, but not because I cannot =
find=20
stocks that have the best IBD rankings without IBD. In fact, =
using=20
only IBD EPS ranking stocks of 80 or better will keep one out of =
some of the=20
future best performing stocks. (See a recent "Ask Bill" =
question as=20
IBD states this.) By using a tool that screens the =
fundamentals=20
instead of the rankings, one will find the best stocks that may miss =
some=20
arbitrary cut off by a statistically anomally. By this I mean =
it makes=20
more sense to screen for companies meeting CANSLIM criteria than to =
look at=20
a subset of stocks that a good growers to determine if they meet =
CANSLIM=20
criteria. Stocks that meet CANSLIM criteria will magically =
have good=20
IBD rankings. If I wanted I could buy one IBD every week or =
two for=20
verification of my data.<BR><BR>To try to duplicate the actual IBD =
rankings=20
requires some programming knowledge and therefore everyone cannot do =
it. I do it as I don't want to tie my future to a paper that =
may go=20
out of business at some point. But my point is that IBD does =
not do=20
anything mystical to generate this information and the rankings are =
not the=20
most important thing needed to find quality growers. The data =
behind=20
the rankings is more important and the data is not available from=20
IBD.<BR><BR>Andy</FONT> </FONT></BLOCKQUOTE></BLOCKQUOTE>
<P><BR>
<HR SIZE=3D1>
Do you Yahoo!?<BR><A=20
href=3D"http://rd.yahoo.com/mail/mailsig/*http://mailplus.yahoo.com">Yaho=
o! Mail=20
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href=3D"http://rd.yahoo.com/mail/mailsig/*http://mailplus.yahoo.com">Sign=
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