Go to Jeff Salisbury LWGate Home Page.From: "Lonnie Brauner" <lonnie@hal-pc.org>
Subject: RE: [CANSLIM] Another mystery plunge
Date: Sun, 27 Jul 2003 20:57:10 -0500
Next Article (by Subject): Re: [CANSLIM] Big Gain vs Many little gains? "Gene Ricci"
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DMC, Could you share the programming? "As for programming the TC2K for canslim, I did it in about 5 minutes--it was pretty easy. " Thanks, Lonnie Long time TC2000 user. - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com] On Behalf Of DMC197807 Sent: Friday, July 25, 2003 12:38 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Another mystery plunge Pritish, No offense taken. I have no financial stake in any of these services. TC2K is a data service with free software. The data I purchase (about $20/month) I use not only to feed my TC2K monster, but my Metastock and AmiBroker as well. I could use the data in other ways, too, but time becomes an issue. So the TC2K, with rather astounding, and astoundingly easy, programmability, costs me $240 per year. Let's remember what we're trying to do here: find a stock, one stock, that is the most likely to perform, and find that one stock on a frequency that matches our investment/speculation goals. I will hold a stock 1 day to 3 months (or longer) for performance, so I'm happy if I can find the one stock out of 8,000 candidates once a week or so. I'm also happy to look at the charts of 40 stocks a day (TC2K is really pretty marvelous in its speed and programmability) to do so. It's quite relaxing, rather like playing cards. I also have it programmed for MA crossovers, bullish and bearish moneystream indications, volume surges, and high beta stocks showing interesting price to moving average movements. As for programming the TC2K for canslim, I did it in about 5 minutes--it was pretty easy. Does it match the CET thing? I don't know, CET is proprietary (I guess mine is too!). But it does spit out 5-10 canslim candidates daily. After that, I apply various other filters and then look at the charts. And I'm not criticizing breakoutwatch.com or other programs. What really brought this up was Hong's statement that OSTE's TA was "great" based on a blackbox rating. When you look at the daily chart, however, paying close attention to price action and volume, and other indicators, it seemed clear that the TA was at least questionable. In a feverishly bullish market, yes, it might continue higher. With the VIX spiking below 20, SPX COTs skewed completely against the market, bull/bear at extremely bearish positions, and put/call reminding us of May 02, is this the time to be going long on any stock. DMC - ----- Original Message ----- From: "Pritish Shah" <pshah@lason.com> To: <dmc197807@comcast.net>; <canslim@lists.xmission.com> Sent: Friday, July 25, 2003 9:56 AM Subject: Re: [CANSLIM] Another mystery plunge DMC, Please do not consider what I say as criticism. With TC2K, you also have to purchase the subscription. Once you do that, you have to do the programming in it with the information that it gives. If such a program exists, then great. If not, then you have to do it yourself. Also with TC2K, do you have to have the software running to get the alerts? I am one of the subscribers of breakoutwatch.com and I find it convenient that I can get the alerts anywhere via email. I look at Total Cost of Ownership. If I were to spend five weeks programming and perfecting TC2K, then I would have spent 5 wks * 40 hrs/wk * $40/hr or $8000 +$300/yr. In contrast, my Total Cost of Ownership for breakoutwatch.com to be effective is $900/yr. No indicators are infallible. This is an "odds" game. What are the odds of you succeeding? If you can improve the odds above 50%, you are successful. If you improve the odds to 60%, it is good. If a tool helps you improve the odds to 80%, it is great and that is what any indicator is about. For some TC2K makes sense. For others breakoutwatch.com makes sense. Pritish >>> dmc197807@comcast.net 7/25/2003 12:30:15 PM >>> Hong, I'm not familiar with breakoutwatch.com's service (although I did just visit their site). It looks pretty pricey for something you can probably program pretty well with TC2K and a subscription to IBD. $900 per year for the "platinum" service? In general I don't think black boxes or canned trading systems work. What works is careful screening, careful analysis, disciplined trading and disciplined money and position management. Of these four, the most important are the latter two. Academics (business schools) like to point out that no TA system has been successfully backtested to perform over lengthy periods of time. True enough, because it is impossible to put in enough general market and proof of trend indicators to reach a "scientific answer." Further proof of failure of black box systems was the LTCM debacle. Also, as Steve Nison likes to point out in analyzing candlesticks, unless you can define the trend, you don't have a candlestick. The big question here, the first question, is what is the condition of the market. Finally, as for the CET thing on OSTE, with a rating of 6.8 out of 7.0 and a big plunge, what does that tell you about the infallibility of their rating system? DMC - ----- Original Message ----- From: "Hong Hsu" <honghsu@bellatlantic.net> To: <canslim@lists.xmission.com> Sent: Friday, July 25, 2003 9:12 AM Subject: Re: [CANSLIM] Another mystery plunge > DMC, > > For OSTE, the total TA score (CET) from breakoutwatch.com is 6.8 > out of 7. With that score I will tend to believe it has solid TA. Does > it? Maybe Katherine could share her insight. > > -Hong > > > > - > -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. - - - -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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