Go to Jeff Salisbury LWGate Home Page.From: "Harold Josephson" <hj@hjosephson.com>
Subject: RE: [CANSLIM] "M" - the trend
Date: Fri, 25 Apr 2003 11:01:30 -0700
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Hi Ian, Would you consider sharing how you mine for the small caps? Thanks, Harold - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of Ian Sent: Wednesday, April 23, 2003 2:43 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] "M" - the trend Hi all: I'll add a couple of more 'M' trends - strictly personal observations: 1. Revenues are weak this quarter, in spite of generally solid earnings. I use daily IBD earnings reports as the basis of assembling a stock universe, and one of my key criterias is 20%+ revenue growth. I am finding fewer qualified candidates this quarter than I have in a long time, in spite of the abundance of great EPS growth. 2. The nanocap and microcap CANSLIM candidates that I follow really seem to be the flavour du jour of this market. I have seen many huge runs over the last 6 weeks. 3. IBD's own recent publication of the 'IBD 100' confirms my personal belief that WON"s volume and price minimums are arbitrary, and in fact are an obstacle to low-risk market-beating returns. The IBD 100 is chock full of stocks that started showing great revenue and EPS growth while the share price was still in the single digits, and ADV was low. Some examples of stocks that first made my personal radar screen as single-digit midgets over the past few years (I'd wager that many of the other issues that I do not follow, started from similar humble beginnings): (The Number is IBD's ranking in the IBD 100) 1. HITK - Was a nanocap when great earnings started hitting in the spring of '01. Volume was non-existant. The most recent 400% surge started last September as HITK saw a quantum gap up in ADV. 4. SSYS - Was a low single digit 'invisible' stock just 6 months ago. 9. TARO - I believe it was $8 pre-split, when I first noticed their great earnings in the summer of 2000 11. BCGI - was in the sinlge digits just last fall. 12. GSOF - a $7 no-volume stock when it broke out last September on great EPS growth. 20. QSII - I remember trading it from $10 in the summer of '01 21. CEDC - Tom can attest to the fact that I sent him an email in real-time when it broke out on volume at $5.20 in July '01. CEDC was so illiquid at the time that I would have risk being laughed off of the list just for bringing it up. 29. JOSB - Nifty little clothier had a qunatum volume jump early last year when it was at $8 85. USNA - A dubious industry kept me away - but great earnings kick-started volume from just $2 early last year. I'm still kicking myself on this one, as I was watching the ticker as it jumped to $3 in a heartbeat. It exhibited the same kind of tremendous ' never look back' characterstic that WON always expects from winners - even from $2! 88. JCOM - The quantum change in volume hit just 1 year ago, at $7. Cheers, Ian - ----- Original Message ----- From: Tom Worley <stkguru@bellsouth.net> To: CANSLIM <canslim@lists.xmission.com> Sent: Tuesday, April 22, 2003 8:05 PM Subject: [CANSLIM] "M" - the trend > worth noting that virtually every index still looks alike, but now are all > in a several week uptrend. In each case, they moved above on today's > trading, on above average volume, both of the recent high spikes of 3/21 and > 4/7, and are approaching the calendar year highs set back in mid January. > > RS lines are trending up, as are the 50 dma. The 200 dma appears to be > bottoming, a continuation of the short term trend will also have this line > trending up. The increase in trading volume is likewise significant to me, > as I believe a large amount of cash has been, and continues to be, on the > sidelines. I also suspect a lot of buying power is still tied up in short > positions. > > Earnings reports so far appear to be muted, most meeting lowered > expectations, which suggests to me the "real expectations" were far worse. > > Tom Worley > stkguru@bellsouth.net > AIM: TexWorley > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -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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