RE: [CANSLIM] BO, too fast too much

From: Tomas <tomas986@yahoo.com>
Subject: RE: [CANSLIM] BO, too fast too much
Date: Thu, 29 May 2003 08:51:41 -0700 (PDT)
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I would like to back up Eric's statement.  I stumble
on cwhcharts.com when I first started, and it has
helped me out quite a bit.  I am currently not a
member (maybe later after I do the leg work and learn
everything manually first).  However, I have been
using their charts and CS evaluator, and those tools
are great.  

My hats off to Katherine and Mike G. for their great
job.

tomas


- --- Eric Jaenike <ericjaenike@yahoo.com> wrote:
> Katherine and all-
> I for one think you should be publicizing
> cwhcharts.com more, not less. Because you are
> conservative about doing that, let me take this
> opportunity to do it for you. I've looked through
> the site, and think it is an excellent resource,
> both for watch lists generation and analysis. Even
> if you find only one trade off that service per
> year, you will recoup the cost, and probably quite a
> bit more.
>  
> I have no affiliation with that site nor with
> Katherine. I just like the work.
>  
> Eric
> 
> Katherine Malm <kmalm@earthlink.net> wrote:
> Hi Jeff,
> 
> The breakout alert service (cwhcharts.com) is one
> that Mike Gibbons and I
> developed. My posts here on the list are as an
> individual CANSLIM investor,
> so while I mention the service in my reply to Tomas
> in order to give a
> complete overview of the options, you can probably
> understand why I didn't
> mention it by name.
> 
> See it at www.cwhcharts.com. I've recently written a
> new "How to Use our
> Site" tutorial that gives an overview of using the
> service in either a 10 or
> 20 minute a day approach. See it by clicking on the
> "How to..." menu at the
> site. It shows how we compile the daily watchlists,
> provide due diligence
> info (Canslim Evaluator, Industry Charts, list of
> Industry Components,
> etc.), and generate the intraday alerts themselves.
> 
> We make some of the components, such as the our
> general charts (with RSRank,
> U/D ratio, RSLine plotted over time) and the Canslim
> Evaluator (and imbedded
> links to our Industry charts and components),
> available to the CANSLIM list
> members in limited use as a thanks to those who
> contribute here. You can
> also access the forums where there are more general
> tutorials on subjects
> such as using RSLines, etc.
> 
> For the CANSLIM list members:
> Charts link:
> http://www.cwhcharts.com/charts/kmchart.php
> Canslim Evaluator link:
> http://www.cwhcharts.com/canslim/
> 
> You'll notice I use my own charts when annotating my
> analysis of a stock.
> That's something Mike developed for me (even before
> I joined the site) after
> DailyGraphs Online (DGO) threatened me with legal
> action for making original
> annotations on *their* charts and posting them here
> on the public CANSLIM
> list. Necessity is ever the mother of invention!
> That's also our motivation
> to make our charts available to members here, so
> that they can feel to use
> them and annotate them to their heart's content
> without fear of retribution.
> 
> If you have any specific questions, please be sure
> to take them offlist.
> 
> Katherine
> 
> 
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf
> Of jeffwdc
> Sent: Wednesday, May 28, 2003 4:22 PM
> To: canslim@lists.xmission.com
> Subject: RE: [CANSLIM] BO, too fast too much
> 
> 
> Hi Katherine,
> 
> Thanks for all the info. you published over the
> weekend!
> 
> You mention a Breakout Alert Service. May I ask the
> name of this service? I'm not ready to subscribe,
> but
> it would be nice to know for the future.
> 
> Best Regards, jeff gasta
> 
> --- Katherine Malm wrote:
> > Hi Tomas,
> >
> > I think there are a few different options if you
> > can't monitor the market
> > intraday.
> >
> > These require that you first select the stocks
> that
> > you want to monitor for
> > breakout, so if something moves that was not on
> your
> > radar, then you will
> > not see it:
> >
> > (1) As Bill suggested, set up a buy stop/limit
> > order. This will be executed
> > based on price, so you still have to check in
> > sometime before the end of the
> > day to ensure that the volume requirements were
> also
> > met. If not, then you
> > have to be willing to sell the position.
> >
> > (2) Use an alert system (broker based or stand
> > alone) that allows you set
> > price alerts and then sends them to your phone,
> text
> > based pager or wireless
> > PDA. You have to preset the stocks you wish to
> > monitor and you will have to
> > be able to interrupt your business at hand to
> check
> > in on the market and
> > make the trade if the projected volume is
> > sufficient.
> >
> > (3) Check in on the market at lunch. If the stocks
> > you are watching are
> > nearing a breakout at that point, place a market
> > order or a buy stop/limit
> > order. If using a buy stop then you'll need to
> check
> > actual volume at day's
> > end and sell if necessary as with option 1.
> >
> > This allows you to look for possible breakouts,
> even
> > if the stock wasn't
> > originally on your radar. The easiest way to find
> > these is to look for
> > stocks that close up on the day on volume >=150%
> of
> > ADV (either by using the
> > "Where the Big Money is Flowing" or a technical
> > program that lets you scan
> > for stocks):
> >
> > (4) Wait until day's end to find stocks that have
> > broken out and are still
> > within range (<5%). Advantage is that you will be
> > able to see the actual
> > volume in order to confirm the BO. The
> disadvantage,
> > as you noted is that
> > the stock may very well be extended beyond the
> > buying range and you'll have
> > to pass and/or wait to see if it pulls back and
> > provides a second chance
> > entry.
> >
> > This last option does not require that you already
> > have a stock on your
> > radar in order to see an attempted breakout
> > intraday:
> >
> > (5) Use a breakouts alert service (there's only
> one)
> > that automatically
> > sends out an intraday alert when a stock in a
> basing
> > pattern is breaking
> > out. This can go to your email, text based pager
> or
> > wireless PDA address.
> > The advantage over any of the other options is
> that
> > you do not have to seek
> > out the stock in question to determine if it is
> > setting up and when/if it
> > attempts an intraday breakout, you will be
> notified.
> > As with option 1,
> > however, the intraday alerts are based on
> projected
> > volume, so if you choose
> > to execute an order and end of day volume does not
> > pan out, you'll have to
> > be willing to sell the position. Alternately, you
> > can wait until near
> 
=== message truncated ===


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