Go to Jeff Salisbury LWGate Home Page.From: "Gene Ricci" <genr@swbell.net>
Subject: Re: [CANSLIM] AAII letter to the editor
Date: Sun, 13 Jul 2003 22:11:15 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_04B6_01C3498B.AD2523C0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable John, when I read the article I felt that the writer's issue was with = WON and IBD, not a criticism of CANSLIM per se. Is that your take? While WON may have announced the beginning of the bear in March of 2000 = .... folks ask what did he do after that? These same folks have little = regard for WON, especially those that quote his full page letter, = published in April or May 2001 when he declared the bear to be over.... = I personally have an issue with IBD's failure to alert their followers = that CANSLIM only works in an uptrending market - for most investors. = WON's lack of shorting tools/techniques is another area of personal = criticism. I still bite my lip when I think of IBD telling me to = practice for the day of the return of CANSLIM versus getting off my butt = and learning how to short....=20 Gene ----- Original Message -----=20 From: John Solarno=20 To: canslim@lists.xmission.com=20 Sent: Sunday, July 13, 2003 8:40 PM Subject: [CANSLIM] AAII letter to the editor I just received my July copy of the AAII Journal (published by the = American Association of Individual Investors.) In the letter to the editor = section, there is a blistering objection to an article in the June issue by = William O'Neill called "The Big Picture: How to Determine the Stock Market's Direction." The letter, written by a Jon A. Ford, says that O'Neil acknowledged, = in his June article, that the bear market began in March of 2000. "What he = doesn't say," writes Ford, "is that his Investor's Business Daily failed to = notify investors that it was time to go into cash until February 13, 2003 - = long after a large chunk of investment savings had gone up in smoke. "O'Neil's 'cut your losses at 7% rule' did not help," Ford continues, "because for almost the entire duration of the bear market, the encouragement was to continue buying newly identified stocks with sale proceeds. This effectively sets up a series of 7% to 8% stock market losses." Ford reminds readers that "as good as CANSLIM and related O'Neil media = may be, the bottom line is for people to buy and sell stocks - and surpass others- but using O'Neil and company's merchandise." "Finally, after three years and 25% to 35% or more annual = deterioration in investors' stock portfolios," says Ford, "Investor's Business Daily = finally advised readers to go to cash - a recommendation that, if acted upon, = would have effectively crystallized losses and kept investors from = participating in the market increases only a month later." Ouch! =20 I thought I'd throw this out to the group for comment. John Solarno - -To subscribe/unsubscribe, email "majordomo@xmission.com" -In the email body, write "subscribe canslim" or -"unsubscribe canslim". Do not use quotes in your email. - ------=_NextPart_000_04B6_01C3498B.AD2523C0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2800.1106" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3D"Comic Sans MS">John, when I read the article I = felt that=20 the writer's issue was with WON and IBD, not a criticism of CANSLIM = per se.=20 Is that your take?</FONT></DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV> <DIV><FONT face=3D"Comic Sans MS">While WON may have announced the = beginning=20 of the bear in March of 2000 .... folks ask what did he do after = that?=20 These same folks have little regard for WON, especially those that = quote=20 his full page letter, published in April or May 2001 when = he=20 declared the bear to be over.... I personally have an issue with IBD's = failure=20 to alert their followers that CANSLIM only works in an uptrending = market -=20 for most investors. WON's lack of shorting tools/techniques is = another area=20 of personal criticism. I still bite my lip when I think of = IBD=20 telling me to practice for the day of the return of CANSLIM versus = getting off=20 my butt and learning how to short.... </FONT></DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV> <DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </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=3Dworkvirt@workvirtual.com = href=3D"mailto:workvirt@workvirtual.com">John=20 Solarno</A> </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>= </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, July 13, 2003 = 8:40 PM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] AAII letter = to the=20 editor</DIV> <DIV><BR></DIV>I just received my July copy of the AAII Journal = (published by=20 the American<BR>Association of Individual Investors.) In the = letter to=20 the editor section,<BR>there is a blistering objection to an article = in the=20 June issue by William<BR>O'Neill called "The Big Picture: How to = Determine the=20 Stock Market's<BR>Direction."<BR><BR>The letter, written by a Jon A. = Ford,=20 says that O'Neil acknowledged, in his<BR>June article, that the bear = market=20 began in March of 2000. "What he doesn't<BR>say," writes Ford, "is = that his=20 Investor's Business Daily failed to notify<BR>investors that it was = time to go=20 into cash until February 13, 2003 - long<BR>after a large chunk of = investment=20 savings had gone up in smoke.<BR><BR>"O'Neil's 'cut your losses at 7% = rule'=20 did not help," Ford continues,<BR>"because for almost the entire = duration of=20 the bear market, the<BR>encouragement was to continue buying newly = identified=20 stocks with sale<BR>proceeds. This effectively sets up a series of 7% = to 8%=20 stock market<BR>losses."<BR><BR>Ford reminds readers that "as good as = CANSLIM=20 and related O'Neil media may<BR>be, the bottom line is for people to = buy and=20 sell stocks - and surpass<BR>others- but using O'Neil and company's=20 merchandise."<BR><BR>"Finally, after three years and 25% to 35% or = more annual=20 deterioration in<BR>investors' stock portfolios," says Ford, = "Investor's=20 Business Daily finally<BR>advised readers to go to cash - a = recommendation=20 that, if acted upon, would<BR>have effectively crystallized losses and = kept=20 investors from participating<BR>in the market increases only a month=20 later."<BR><BR>Ouch! <BR><BR>I thought I'd throw this out to the = group=20 for comment.<BR><BR>John Solarno<BR><BR><BR><BR><BR><BR>-<BR>-To=20 subscribe/unsubscribe, email "<A=20 = href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In= the=20 email body, write "subscribe canslim" or<BR>-"unsubscribe = canslim". Do=20 not use quotes in your email.<BR></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_04B6_01C3498B.AD2523C0-- - - - -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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