Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] CANSLIM Hunting List 02/21/03 + Notes on CANSLIM
Date: Wed, 26 Feb 2003 06:46:45 -0500
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and it made my short list in WWW last weekend for its high handle on the =
cup
- ----- Original Message -----=20
From: inderjit=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, February 25, 2003 11:42 PM
Subject: RE: [CANSLIM] CANSLIM Hunting List 02/21/03 + Notes on CANSLIM
Perfect pick. Heading in the right direction. Even Tom W rated this very =
high approximately 3 years ago..
=20
- -----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] On Behalf Of NANCY POLCARO
Sent: Tuesday, February 25, 2003 9:44 PM
To: canslim
Subject: Re: [CANSLIM] CANSLIM Hunting List 02/21/03 + Notes on CANSLIM
=20
wondering if anyone has thoughts on yahoo-numbers in paper look good and =
possible break out?? PE of 109 . would appreciate some thoughts on =
this one as far as CANSLIM-thanks nancy
=20
----- Original Message -----
From: Katherine Malm
Sent: Tuesday, February 25, 2003 10:09 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] CANSLIM Hunting List 02/21/03 + Notes on =
CANSLIM
=20
Hi jans & Mike,
jans... I understand Mike's question and believe he wasn't asking for
personal details and I have to admit I've asked similar questions of =
folks
here in the group. Namely, "how has the experience of the last few =
years
changed the way you trade?" I've also posted my own point of view on =
things
CANSLIM in the past, so I won't go into great details, but will =
instead just
give a quick overview of what I've been doing the last few years.
(1) No, I've not spent the entire time in cash. In April 2000 I =
started
shorting the market on downtrends. That's an aggressive strategy that
compliments a CANSLIM long strategy, but is decidedly not CANSLIM. =
However,
I kept things simple by shorting stocks in the former CANSLIM camp. =
That is,
stocks that were rolling over; stocks that rolled over, rose and then
started to fail again; etc. It's been an excellent learning =
experience, but
I have to say it was a lot easier to short in 2000-2001 than it has =
been in
the last 6 months. When there are no clear signals in either =
direction, I'll
stay in cash. I don't feel a need to trade all the time. My goal is to =
make
money, not trade to make my day interesting.
(2) I still use CANSLIM for long strategies and I'm about as purist as =
one
can get with it. The major exception that I make is that WON suggests =
that a
stock rise at least 25-30% from a previous base and be in an =
underlying
uptrend before entering a breakout. The longer the Bear goes on, the =
less
likely it is that one can find potential long positions meeting that
condition. For the purist of the pure CANSLIMers, that would be enough =
to
keep one primarily in cash for most of the last 3 years. However, WON =
also
suggests that once a stock's old highs are more than 1 to 1-1/2 years =
away,
the less the old high applies to current trading conditions. That =
means one
has to be alert to what I refer to as "bottoming bases." If all other
conditions are met technically (RS, relationship to 200dMA, pattern, =
etc.)
and the fundamentals (especially turnaround conditions) are met, then =
it
becomes a viable candidate.
These are the primary CANSLIM issues that I've focused my attention on =
in
the last few years:
(1) Rising strength is more important than "top of the heap." This =
means
that bottoms up stock picking is far more effective than top down. =
While
industry strength matters, it should never be the first stop in a =
selection
process, rather an indicator of the direction of the move and the =
potential
strength of an impending breakout (or breakdown).
(2) Reading and re-reading WON has clearly indicated that fundamentals
should be considered on the preponderance of evidence. Despite the 20 =
rules
of investing in the IBD, there are many exceptions to the >=3D25% =
growth, etc.
and WON has always laid them on the table as if/thens. Overly =
restrictive
fundamental searches leave out some of the very best candidates.
(3) Technicals first, fundamentals second. Both matter, but technicals =
lead
the eye to rising strength. The better one is at reading price/volume =
action
and technicals in general, the more they can rely on them for stock
selection and entry/exit. I rely more on the technical action of the =
stock
to tell me when to enter/exit. That means that the "8%" rule is =
generally
the last to kick in. I have a mental stop going into the trade that is =
set
based on the technical action of the stock. Sometimes that is 4%, =
sometimes
it's 10%. It depends on the market and the stock itself.
(4) Disicipline and methodical, unemotional rule-based trading is the =
key to
consistent profits.
This approach works in all markets--trending or sideways.
I'd be interested in what others have learned in the last few years =
and hope
folks will chime in with their personal observations/learning points =
as
well.
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of =
Spencer48@aol.com
Sent: Monday, February 24, 2003 5:00 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] CANSLIM Hunting List 02/21/03 + Notes on =
CANSLIM
Mike:
I love it when people speak for me: It's so interesting to hear
another
person's voice attached to my apparent words.
I agree with the latter portion of your E-mail (being grateful =
to
Katherine for all her work and analyses), but I don't agree with the =
former
(asking Katherine to tell us, in general, how she's been trading the =
last
couple of years).
At any rate, I believe such a query intrudes on personal matters
(financially speaking), and is sort of like asking someone to explain
oneself
(ie. putting Katherine on the defensive).
My point is: I don't mind the query-it's really not directed at =
me,
and
Katherine can answer it or not as she chooses. But I do mind someone =
when
someone says that he's speaking for me. And especially so when he =
fashions
his E-mail to make it appear that I agree with all he is saying.
jans
In a message dated 2/24/2003 11:58:49 AM Eastern Standard Time,
michael_niemotka@baxter.com writes:
<< Katherine, would you be willing to share with the group the =
"general"
type
of trading that you have been doing over the past couple of years, =
given
the "M"?
Have you spent the last couple years in mostly cash, or have you done =
some
trading, and if so, how have you modified CANSLIM? Have you taken =
profits
much more quickly, ie at 10-20%, rather than risk a ride for higher =
gains?
Tightening the 8% loss rule to 5%?
I am not expecting details, but I think I speak for the group when I =
say
that we all value your insight into the application of CANSLIM.
Thanks
Mike
>>
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<BODY lang=3DEN-US style=3D"tab-interval: .5in" vLink=3Dpurple =
link=3Dblue=20
bgColor=3D#ffffff>
<DIV><FONT face=3DArial>and it made my short list in WWW last weekend =
for its high=20
handle on the cup</FONT></DIV>
<DIV> </DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3Dinderjit@adelphia.net =
href=3D"mailto:inderjit@adelphia.net">inderjit</A>=20
</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> Tuesday, February 25, 2003 11:42 PM</DIV>
<DIV><B>Subject:</B> RE: [CANSLIM] CANSLIM Hunting List 02/21/03 + Notes =
on=20
CANSLIM</DIV></DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Perfect pick. Heading in =
the right=20
direction. Even Tom W rated this very high approximately 3 years=20
ago=85.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: bold">From:</SPAN></B> <A =
href=3D"mailto:owner-canslim@lists.xmission.com">owner-canslim@lists.xmis=
sion.com</A>=20
[mailto:owner-canslim@lists.xmission.com] <B><SPAN style=3D"FONT-WEIGHT: =
bold">On=20
Behalf Of </SPAN></B>NANCY POLCARO<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> Tuesday, February 25, 2003 =
9:44=20
PM<BR><B><SPAN style=3D"FONT-WEIGHT: bold">To:</SPAN></B> =
canslim<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [CANSLIM] CANSLIM =
Hunting List=20
02/21/03 + Notes on CANSLIM</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"><o:p> </o:p></SPAN></FONT></P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DVerdana =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Verdana">wondering if anyone has =
thoughts=20
on yahoo-numbers in paper look good and possible break out?? PE of =
109 =20
. would appreciate some thoughts on this one as far as=20
CANSLIM-thanks nancy<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DVerdana =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Verdana"> <o:p></o:p></SPAN></FONT></P></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: =
medium none; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0in; MARGIN: 5pt 0in 5pt =
3.75pt; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: =
medium none">
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">----- Original Message=20
-----<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial color=3Dblack size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; =
FONT-FAMILY: Arial">From:</SPAN></FONT></B><FONT=20
face=3DArial color=3Dblack size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial"> Katherine =
Malm<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Sent:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> Tuesday,=20
February 25, 2003 10:09 AM<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">To:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">=20
canslim@lists.xmission.com<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Subject:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> RE:=20
[CANSLIM] CANSLIM Hunting List 02/21/03 + Notes on=20
CANSLIM<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DVerdana =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Verdana"> <o:p></o:p></SPAN></FONT></P></DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DVerdana =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Verdana">Hi jans &=20
Mike,<BR><BR>jans... I understand Mike's question and believe he =
wasn't asking=20
for<BR>personal details and I have to admit I've asked similar =
questions of=20
folks<BR>here in the group. Namely, "how has the experience of the =
last few=20
years<BR>changed the way you trade?" I've also posted my own point of =
view on=20
things<BR>CANSLIM in the past, so I won't go into great details, but =
will=20
instead just<BR>give a quick overview of what I've been doing the last =
few=20
years.<BR><BR>(1) No, I've not spent the entire time in cash. In April =
2000 I=20
started<BR>shorting the market on downtrends. That's an aggressive =
strategy=20
that<BR>compliments a CANSLIM long strategy, but is decidedly not =
CANSLIM.=20
However,<BR>I kept things simple by shorting stocks in the former =
CANSLIM=20
camp. That is,<BR>stocks that were rolling over; stocks that rolled =
over, rose=20
and then<BR>started to fail again; etc. It's been an excellent =
learning=20
experience, but<BR>I have to say it was a lot easier to short in =
2000-2001=20
than it has been in<BR>the last 6 months. When there are no clear =
signals in=20
either direction, I'll<BR>stay in cash. I don't feel a need to trade =
all the=20
time. My goal is to make<BR>money, not trade to make my day=20
interesting.<BR><BR>(2) I still use CANSLIM for long strategies and =
I'm about=20
as purist as one<BR>can get with it. The major exception that I make =
is that=20
WON suggests that a<BR>stock rise at least 25-30% from a previous base =
and be=20
in an underlying<BR>uptrend before entering a breakout. The longer the =
Bear=20
goes on, the less<BR>likely it is that one can find potential long =
positions=20
meeting that<BR>condition. For the purist of the pure CANSLIMers, that =
would=20
be enough to<BR>keep one primarily in cash for most of the last 3 =
years.=20
However, WON also<BR>suggests that once a stock's old highs are more =
than 1 to=20
1-1/2 years away,<BR>the less the old high applies to current trading=20
conditions. That means one<BR>has to be alert to what I refer to as =
"bottoming=20
bases." If all other<BR>conditions are met technically (RS, =
relationship to=20
200dMA, pattern, etc.)<BR>and the fundamentals (especially turnaround=20
conditions) are met, then it<BR>becomes a viable =
candidate.<BR><BR>These are=20
the primary CANSLIM issues that I've focused my attention on in<BR>the =
last=20
few years:<BR>(1) Rising strength is more important than "top of the =
heap."=20
This means<BR>that bottoms up stock picking is far more effective than =
top=20
down. While<BR>industry strength matters, it should never be the first =
stop in=20
a selection<BR>process, rather an indicator of the direction of the =
move and=20
the potential<BR>strength of an impending breakout (or =
breakdown).<BR>(2)=20
Reading and re-reading WON has clearly indicated that =
fundamentals<BR>should=20
be considered on the preponderance of evidence. Despite the 20 =
rules<BR>of=20
investing in the IBD, there are many exceptions to the >=3D25% =
growth,=20
etc.<BR>and WON has always laid them on the table as if/thens. Overly=20
restrictive<BR>fundamental searches leave out some of the very best=20
candidates.<BR>(3) Technicals first, fundamentals second. Both matter, =
but=20
technicals lead<BR>the eye to rising strength. The better one is at =
reading=20
price/volume action<BR>and technicals in general, the more they can =
rely on=20
them for stock<BR>selection and entry/exit. I rely more on the =
technical=20
action of the stock<BR>to tell me when to enter/exit. That means that =
the "8%"=20
rule is generally<BR>the last to kick in. I have a mental stop going =
into the=20
trade that is set<BR>based on the technical action of the stock. =
Sometimes=20
that is 4%, sometimes<BR>it's 10%. It depends on the market and the =
stock=20
itself.<BR>(4) Disicipline and methodical, unemotional rule-based =
trading is=20
the key to<BR>consistent profits.<BR><BR>This approach works in all=20
markets--trending or sideways.<BR><BR>I'd be interested in what others =
have=20
learned in the last few years and hope<BR>folks will chime in with =
their=20
personal observations/learning points=20
as<BR>well.<BR><BR>Katherine<BR><BR>-----Original =
Message-----<BR>From:=20
=
owner-canslim@lists.xmission.com<BR>[mailto:owner-canslim@lists.xmission.=
com]On=20
Behalf Of Spencer48@aol.com<BR>Sent: </SPAN></FONT><st1:date =
Year=3D"2003"=20
Day=3D"24" Month=3D"2"><FONT face=3DVerdana size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Verdana">Monday, February 24,=20
2003</SPAN></FONT></st1:date><FONT face=3DVerdana size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Verdana"> =
</SPAN></FONT><st1:time=20
Minute=3D"0" Hour=3D"17"><FONT face=3DVerdana size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Verdana">5:00=20
PM</SPAN></FONT></st1:time><FONT face=3DVerdana size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Verdana"><BR>To:=20
canslim@lists.xmission.com<BR>Subject: Re: [CANSLIM] CANSLIM Hunting =
List=20
</SPAN></FONT><st1:date Year=3D"2003" Day=3D"21" Month=3D"2"><FONT =
face=3DVerdana=20
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Verdana">02/21/03</SPAN></FONT></st1:date><FONT=20
face=3DVerdana size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Verdana"> +=20
Notes on CANSLIM<BR><BR><BR>Mike:<BR><BR> I =
love it=20
when people speak for me: It's so interesting to=20
hear<BR>another<BR>person's voice attached to my apparent=20
words.<BR><BR> I agree with the latter =
portion=20
of your E-mail (being grateful to<BR>Katherine for all her work and =
analyses),=20
but I don't agree with the former<BR>(asking Katherine to tell us, in =
general,=20
how she's been trading the last<BR>couple of=20
years).<BR><BR> At any rate, I believe such a =
query=20
intrudes on personal matters<BR>(financially speaking), and is sort of =
like=20
asking someone to explain<BR>oneself<BR>(ie. putting Katherine on the=20
defensive).<BR><BR> My point is: I don't =
mind=20
the query-it's really not directed at me,<BR>and<BR>Katherine can =
answer it or=20
not as she chooses. But I do mind someone when<BR>someone says =
that he's=20
speaking for me. And especially so when he fashions<BR>his =
E-mail to=20
make it appear that I agree with all he is =
saying.<BR><BR>jans<BR><BR><BR>In a=20
message dated 2/24/2003 11:58:49 AM Eastern Standard=20
Time,<BR>michael_niemotka@baxter.com writes:<BR><BR><< =
Katherine, would=20
you be willing to share with the group the "general"<BR>type<BR>of =
trading=20
that you have been doing over the past couple of years, given<BR>the=20
"M"?<BR><BR>Have you spent the last couple years in mostly cash, or =
have you=20
done some<BR>trading, and if so, how have you modified CANSLIM? Have =
you taken=20
profits<BR>much more quickly, ie at 10-20%, rather than risk a ride =
for higher=20
gains?<BR>Tightening the 8% loss rule to 5%?<BR><BR>I am not expecting =
details, but I think I speak for the group when I say<BR>that we all =
value=20
your insight into the application of=20
CANSLIM.<BR><BR>Thanks<BR><BR>Mike<BR> >><BR><BR>-<BR>-To=20
subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email =
body,=20
write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not =
use=20
quotes in your email.<BR><BR><BR><BR>-<BR>-To subscribe/unsubscribe, =
email=20
"majordomo@xmission.com"<BR>-In the email body, write "subscribe =
canslim"=20
or<BR>-"unsubscribe canslim". Do not use quotes in your=20
email.<o:p></o:p></SPAN></FONT></P></BLOCKQUOTE></DIV></BODY></HTML>
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