Go to Jeff Salisbury LWGate Home Page.From: "Duane Runnels" <drunnels@kiva.net>
Subject: [CANSLIM] BreakoutWatch Filters & BE
Date: Mon, 21 Jul 2003 11:47:00 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_001E_01C34F7D.CB84F320 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Hello John =20 I'm a canslim newbie so I feel your frustration and I'll throw in my 2 = cents. Others have already spoken up about the flaws in BE, so I'll = concentrate on the breakoutwatch filters you asked about. =20 I'm a lot fussier than most. I too subscribe to breakoutwatch, but I = filter out the losers before they get to my watchlist. Of course, I = also end up filtering out a bunch of winners too, but that's the price = you pay for being fussy.=20 =20 I set up my watchlist to find stocks within 10% of new highs with volume = > 75,000 and a CE > 13. This gives me about 10 stocks per week to look = at and run through my next filter which is an excel spreadsheet using = IBD rankings, canslim parameters, and chart evaluation. I rarely find = anything I'm interested in with a CE < 14. I know, everybody else = thinks I'm mad, but again I'm fussy. I would say about 2-3 stocks per = week pass this second filter and then I'm off to do due diligence. = Since I look for stocks within 10% of a new high, I usually have a = couple of days to mull it over and do it properly before I make a final = decision. Then of course many picks don't even break out, but sit idly = on another watchlist waiting for another breakout opportunity.=20 =20 You don't have to swing at pitches in the dirt. Breakouts are a bit = harder to come by these days than back in April and May and the numbers = don't seem as strong. And yes, I once bought the top CE stock (16.2 I = think) at the BO and it nosedived. My opinion is that we're in a period = where being fussy pays off. If that means I can't find any stocks to = buy, so be it. - ------=_NextPart_000_001E_01C34F7D.CB84F320 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 6.00.2600.0" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#fffcf0> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT size=3D2>Hello John<?xml:namespace = prefix =3D o ns=20 =3D "urn:schemas-microsoft-com:office:office" = /><o:p></o:p></FONT></SPAN></P> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT = size=3D2> <o:p></o:p></FONT></SPAN></P> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT size=3D2>I=92m a canslim newbie so I = feel your=20 frustration and I=92ll throw in my 2 cents.<SPAN style=3D"mso-spacerun: = yes"> =20 </SPAN>Others have already spoken up about the flaws in BE, so I=92ll = concentrate=20 on the breakoutwatch filters you asked about.</FONT></SPAN></P> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT = size=3D2> <o:p></o:p></FONT></SPAN></P> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT size=3D2>I=92m a lot fussier than = most.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>I too subscribe to = breakoutwatch, but I=20 filter out the losers before they get to my watchlist.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>Of course, I also end up = filtering out a=20 bunch of winners too, but that's the price you pay for being fussy. = <o:p></o:p></FONT></SPAN></P> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT = size=3D2> <o:p></o:p></FONT></SPAN></P> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT size=3D2>I set up my watchlist to = find stocks=20 within 10% of new highs with volume > 75,000 and a CE > 13.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>This gives me about 10 stocks = per week=20 to look at and run through my next filter which is an excel spreadsheet=20 using IBD rankings, canslim parameters, and chart evaluation.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>I rarely find anything I=92m = interested in=20 with a CE < 14.<SPAN style=3D"mso-spacerun: yes"> </SPAN>I = know,=20 everybody else thinks I=92m mad, but again I=92m fussy.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>I would say about 2-3 stocks = per week=20 pass this second filter and then I=92m off to do due diligence.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>Since I look for stocks within = 10% of a=20 new high, I usually have a couple of days to mull it over and do it = properly=20 before I make a final decision.<SPAN style=3D"mso-spacerun: yes"> =20 </SPAN>Then of course many picks don=92t even break out, but sit idly on = another=20 watchlist waiting for another breakout opportunity.=20 <o:p></o:p></FONT></SPAN></P> <P class=3DMsoNormal style=3D"MARGIN: 0in 0in 0pt"><SPAN=20 style=3D"FONT-FAMILY: Tahoma"><FONT = size=3D2> <o:p></o:p></FONT></SPAN></P> <DIV><SPAN=20 style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Tahoma; mso-fareast-font-family: = 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: = EN-US; mso-bidi-language: AR-SA"><FONT=20 size=3D2>You don=92t have to swing at pitches in the dirt.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>Breakouts are a bit harder to = come by=20 these days than back in April and May and the numbers don=92t seem as = strong. And=20 yes, I once bought the top CE stock (16.2 I think) at the BO and it = nosedived.=20 My opinion is that we=92re in a period where being fussy pays off.<SPAN=20 style=3D"mso-spacerun: yes"> </SPAN>If that means I can=92t find = any stocks to=20 buy, so be it.</FONT></SPAN></DIV> <DIV><SPAN=20 style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Tahoma; mso-fareast-font-family: = 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: = EN-US; mso-bidi-language: AR-SA"></SPAN> </DIV></BODY></HTML> - ------=_NextPart_000_001E_01C34F7D.CB84F320-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
Next Article (by Subject): Re: [CANSLIM] Low Volume Pullback Below Pivot "Gene Ricci"
Previous Article (by Subject): Re: Re: [CANSLIM] Low Volume Pullback Below Pivot Bill Triffet
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