Re: [CANSLIM] overall stock-picking procedure

From: Marc Deiter <dites@yahoo.com>
Subject: Re: [CANSLIM] overall stock-picking procedure
Date: Wed, 8 Jan 2003 20:25:20 -0800 (PST)

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Jeff,

I found CANSLIM about 16 months ago and subscribed to IBD and have
read HTMMIS (twice).  My search methods are fairly basic relative to
other list participants.  Other than IBD, I haven't yet paid for a
subscription to any site, and when I do, Mike Gibbon's site,
www.cwhcharts.com will be one of the first.  I review IBD's Screen of
the Day, Where the Big Money is Flowing, Weekly Review, Stocks in the
News, and The New America column. I use both the paper and the
on-line site.  Each weekend I research the stocks Tom Worley lists in
his Worley's Weekend Weeview - checking charts first then other sites
if the chart looks good.  I also get a couple of daily e-mails from
other sites devoted to CANSLIM.  MSN's screener is a free source that
is helpful.  You can use standard screens or enter your own search
criteria: http://moneycentral.msn.com/investor/home.asp

There are many other free sites that are helpful - Katherine's
monthly FAQ e-mail contains many helpful sites.  If you don't have
that, e-mail me off-list and I will forward it to you.

As of now, I tend to stay close to the common/standard/basic rules -
strong earnings and sales growth, top industry group, ROE>17%,
appropriate price/volume action, etc. when looking at charts and
fundamental information.  As I learn more, I will customize the
guidelines more to my personal style.  Stocks I feel worth watching I
place on watchlists on the IBD site and on Yahoo Finance. 
Clearstation has been recommended several times by list participants.
 I review and update these lists frequently (usually daily and
definitely each weekend).  I maintain a few watch lists - for example
- - Base Right Side, Handle, LLUR, etc.  I also keep a list called
CANSLIM Extended to learn from stocks that have broken out.  I've
found that once a watch list is established, the search/update
process becomes easier as you become familiar with the stocks and the
guidelines.  This is probably a function of the limited sources that
I use to date.  

I feel the watchlist search/maintenance process is relative to how
much time and effort you can/want to put into it. I would guess that
I spend 1-2 hours a day (some at work, most in the evening) reading
IBD, list e-mails, looking at charts, looking at fundamentals, etc.

And I feel that as a relative rookie to CANSLIM, The Big Picture from
IBD is very valuable.

Hope that helps.
Marc

- --- Jeff Dennis <jeffdennis123@yahoo.com> wrote:
> 
> Anyone and everyone
> 
> Would anyone care to talk about their daily routines for
> investigating and researching CAN SLIM caliber stocks and
> developing watch lists.  I am trying to get a routine down to
> develop a manageable watchlist.  In general, do you, as O'Neil
> suggests, look at the Real Most Active stocks, investors.com screen
> of the day's, weekend review stocks, or use other techniques.  And
> about how much time each day do you spend on it.  
> 
> Just curious to hear about and learn from everyone's methods. 
> Thanks.
> 
> Jeff
> 
> 
> 
> ---------------------------------
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