Go to Jeff Salisbury LWGate Home Page.From: "Gene Ricci" <genr@swbell.net>
Subject: Re: [CANSLIM] filter
Date: Wed, 6 Aug 2003 17:14:47 -0500
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Yes, I have to thank Fred (Richards) for his ongoing KISS & Stay Focused =
guidance. And my ability to walk away from worrying about criteria that =
can't be measured or limits established.=20
Gene
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, August 06, 2003 4:46 PM
Subject: RE: [CANSLIM] filter
Hi Gene,
Well, that makes a lot more sense now, as I didn't realize that you =
were no longer an HGSI subscriber. I can see why you'd need to use the =
MSN screener if Vectorvest is the only tool you are using, because VV =
contains neither RS ranks, RS lines, nor raw fundamental data such as =
ROE, QoQ EPS and sales growth rates, YoY EPS and sales growth rates, =
etc.=20
Glad to see you've finally simplified and found some focus. It saves =
not only money, but time.
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Gene Ricci
Sent: Wednesday, August 06, 2003 3:42 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] filter
Hi Katherine,
Good set of questions... luckily I asked myself those same =
questions when VectorVest released their new software last November... =
here's part of a message that I sent just yesterday... highlighting the =
need to focus.=20
"Here's a good case for focusing on software. Fred determined =
what he needed to match his investment needs.... he learned to focus.... =
At one time I also had DGO, IBD, WizeTrade and HGSI/QP2 along with =
VectorVest. Luckily I also learned to focus and decided to 'really =
learn' VectorVest versus jumping from one software package to another. =
Now I'm down to 'only' VV and the free tools at Schwab; Microsoft and =
WallStreetCity... sure is cheaper !!!"
I spent countless hours trying to rationalize the differences =
between various data sources and IBD's numbers. Came to learn and =
understand that it just didn't matter - if they were different - as long =
as I was consistent and used the same database for my analysis. Found =
that everyone's numbers are different.... took me a while to grasp the =
fact that I was preparing a watchlist and not a buy list.
As far as using free stuff, why not? I just wish that I had =
started with the free stuff and really understood what they had to offer =
rather than chasing the idea of finding the holy grail with software.
Just sold (11.57 am) my MetaStock software because of the new =
features in VectorVest's ProTrader module (charting program) and the =
abundance of material at stockcharts.com.=20
Gene
=20
=20
=20
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, August 06, 2003 2:45 PM
Subject: RE: [CANSLIM] filter
Hi Gene,
Please see my follow up clarification post on the comment on "the =
prior 52 weeks."
I did not state nor intend to imply that MSN screeners weren't =
effective, but that they would not produce the same results as those you =
would get when using DGO/IBD RSRanks. It's worth noting for those that =
are unaware that the RS values at free screening sites such as MSN are =
*not* the same as those from IBD/DGO. The same is true of industry =
ranks, etc., as the methdologies are quite different.
It does leave a particular question, however, as to why you would =
find it necessary to use free MSN screeners when you use several =
different subscription services (HGSI and Vectorvest) and also use =
Metastock for screening (though I realize you probably use the QP2 data =
from the HGSI feed). HGSI, in particular, closely mirrors the IBD/DGO =
RSranks and includes EPS ranks as well. They also have a particularly =
comprehensive set of tools for performing analysis of a stock's =
technicals and fundamentals. Why use so many different tools?=20
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Gene Ricci
Sent: Wednesday, August 06, 2003 2:31 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] filter
Hi Katherine, I'm pretty sure that the RS ranks are not based =
over the prior 52 weeks.
And, I have found the MSN screener to be very effective.=20
Gene
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, August 06, 2003 2:21 PM
Subject: RE: [CANSLIM] filter
Hi Jeff,
I might add a note of caution on using the MSN screener. That =
is, their RS ranks are based on a flat change in price over the prior 52 =
weeks. This is significantly different than IBD's RS ranks, which are =
weighted so that the price action in the most recent quarter carries =
more weight (40%), while previous quarter's each carry 20% weight. The =
other difference in RS ranks is that the database over which they are =
determined is very different. RS ranks for the IBD are based on a =
universe of stocks which includes *only* common stocks on the major US =
(NASDAQ, NYSE, AMEX) and Canadian exchanges, plus closed end bond and =
equity funds. From what I remember, MSN RS ranks are calculated across =
all equities in the US markets, including warrants and preferreds. While =
the RS ranks at MSN are indeed useful, you would not be emulating the =
IBD rankings for purposes of filtering your stocks.
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]On Behalf Of DMC197807
Sent: Wednesday, August 06, 2003 2:08 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] filter
Jeff,
If you're using a free scanner, why don't you use the one =
Gene posted a couple of days ago (I'll repost his post) and play with =
the criteria there. If I adjust relative strength to 80 or above it =
spits out 15 names.
As for CANSLIM criteria, after M one supposes they are all =
important, and my descending order is no better (could be a lot worse) =
than anyone else's. However, you are asking a question that I answered =
2 days ago, at least from my perspective. This is from my note on 8/4 =
to Yien:
<<Good, that's a bunch of information that you can't use. =
Now, for some you
can. There are only 3 numbers which matter, when all the =
dust is settled.
They are NOT p/e, d/e, current ratio, PEG, profit margin or =
inventory
turnover.
THEY ARE: Price paid for shares, Price received for shares, =
Time held.
Now, MILSCAN (Canslim to some of you) is a very interesting =
approach, and
can possibly, with strong position and money management =
systems, help you to
buy low and sell high in a timely timeframe.
Here's how I think of these factors, in descending order of =
importance:
<<M is for the market and the market trend. We are at an =
inflection point
here, so it's lookout below, or perhaps lookout above.
N is for new highs in the stock, breaking out above the =
pivot point
L is for an relative strength rating of 70 or better
A is for annual earnings growth (this is for additional =
comfort)
C is for current quarterly earnings (this is for additional =
comfort)
I is for institutional sponsorship (this is a timing =
issue--I think I trust
the chart over this, for some reason)
S is for supply of stock (looking for a relatively low no. =
of shares--here I
want to exclude the over-issued monsters like CSCO and INTC =
where it will
take a ton of momentum to move the billions of shares =
outstanding).
In closing, using TA and FA together is a good idea, but =
when in conflict,
trust the TA. Remember, out of 7000 stocks we are looking =
for 1 or 2 names
a week on which to carefully place our hopes. >>
DMC
----- Original Message -----=20
From: Jeff Henderson=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, August 06, 2003 11:40 AM
Subject: RE: [CANSLIM] filter
Sorry about the misunderstanding I was using the CANSLIM =
acronym. I'll explain my filter again. First off I use MSN as my =
filter source. Here is my filter that I use: current earnings per share =
(the same quarter a year ago)>=3D70%, annual earnings per share over the =
past 5 years, >=3D 24% compounded, shares outstanding<25,000,000, =
relative strength> 80%.
=20
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] On Behalf Of DMC197807
Sent: Wednesday, August 06, 2003 11:23 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] filter
=20
Jeff,
=20
I don't understand which filter/scan you are using, or =
what all your variables mean. If you're using a public scan or =
stockcharts, maybe you can put in a link here?
=20
If C =3D capitalization and you are using only the top 30% =
of stocks you've filtered out way too many stocks already. In =
capitalization I only filter out the very top stocks, but that's just =
me. I don't know what your S is. For relative strength I use the top =
40% of the market, that is, stocks outperforming 60%.
=20
I'm willing to let some other names in because after this =
scan gives me names, I'm happy to look through charts to find =
appropriate patterns.
=20
DMC
=20
=20
----- Original Message -----=20
From: Jeff Henderson=20
To: Canslim=20
Sent: Wednesday, August 06, 2003 9:02 AM
Subject: [CANSLIM] filter
=20
After reading O'Neil's book I decided to use the filter =
C>=3D70, A>=3D5, S<25,000,000, relative strength>80 and last volume 1.5 =
average quarterly volume. To my dismay, no stocks popped up. How would =
you alter this filter?
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<DIV><FONT face=3D"Comic Sans MS">Yes, I have to thank Fred (Richards) =
for=20
his ongoing KISS & Stay Focused guidance. And my ability =
to walk=20
away from worrying about criteria that can't be measured or limits =
established.=20
</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=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=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</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> Wednesday, August 06, =
2003 4:46=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] =
filter</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D417434121-06082003>Hi Gene,</SPAN></DIV>
<DIV><SPAN class=3D417434121-06082003></SPAN> </DIV>
<DIV><SPAN class=3D417434121-06082003>Well, that makes a lot more =
sense now, as=20
I didn't realize that you were no longer an HGSI subscriber. I can see =
why=20
you'd need to use the MSN screener if Vectorvest is the only tool you =
are=20
using, because VV contains neither RS ranks, RS lines, nor raw=20
fundamental data such as ROE, QoQ EPS and sales growth rates, YoY EPS =
and=20
sales growth rates, etc. </SPAN></DIV>
<DIV><SPAN class=3D417434121-06082003></SPAN> </DIV>
<DIV><SPAN class=3D417434121-06082003>Glad to see you've finally =
simplified and=20
found some focus. It saves not only money, but time.</SPAN></DIV>
<DIV><SPAN class=3D417434121-06082003></SPAN> </DIV>
<DIV><SPAN class=3D417434121-06082003>Katherine</SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Gene=20
Ricci<BR><B>Sent:</B> Wednesday, August 06, 2003 3:42 =
PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM]=20
filter<BR><BR></FONT></DIV>
<DIV>
<TABLE cellSpacing=3D0 cellPadding=3D0 width=3D"100%" border=3D0>
<TBODY>
<TR vAlign=3Dtop>
<TD vAlign=3Dtop width=3D"100%">
<DIV><FONT face=3D"Comic Sans MS" size=3D+0>Hi =
Katherine,</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" =
size=3D+0></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D+0>Good set of =
questions...=20
luckily I asked myself those same questions when =
VectorVest=20
released their new software last November... here's part =
of a=20
message that I sent just yesterday... highlighting the =
need to=20
focus. </FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS">
<DIV><FONT face=3D"Comic Sans MS" size=3D3></FONT> </DIV>
<DIV><FONT face=3D"Times New Roman" color=3D#0000ff=20
size=3D3><EM><STRONG>"Here's a good case for focusing on =
software. Fred=20
determined what he needed to match his investment needs.... he =
learned=20
to focus.... At one time I also had DGO, IBD, WizeTrade and =
HGSI/QP2=20
along with VectorVest. Luckily I also learned to focus =
and=20
decided to 'really learn' VectorVest versus jumping from =
one=20
software package to another. Now I'm down to 'only' VV and the =
free=20
tools at Schwab; Microsoft and WallStreetCity... sure is =
cheaper=20
!!!"</STRONG></EM></FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" color=3D#000000=20
size=3D3></FONT> </DIV>
<DIV></FONT><FONT face=3D"Comic Sans MS" size=3D+0>I spent =
countless hours=20
trying to rationalize the differences between various data =
sources and=20
IBD's numbers. Came to learn and understand that it =
just didn't=20
matter - if they were different - as long as I was consistent =
and used=20
the same database for my analysis. Found that everyone's =
numbers=20
are different.... took me a while to grasp the fact that I was =
preparing a watchlist and not a buy list.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV></DIV>
<DIV><FONT face=3D"Comic Sans MS">As far as using free stuff, =
why=20
not? I just wish that I had started with the free stuff =
and=20
really understood what they had to offer rather than chasing =
the idea=20
of finding the holy grail with software.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Just sold (11.57 am) my =
MetaStock=20
software because of the new features in VectorVest's ProTrader =
module=20
(charting program) and the abundance of material at=20
stockcharts.com</FONT><FONT face=3D"Comic Sans MS">. =
</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV>
<DIV><FONT size=3D+0><B></B></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans =
MS"></FONT> </DIV></TD></TR>
<TR vAlign=3Dtop align=3Dleft>
<TD vAlign=3Dtop align=3Dleft width=3D"100%">
<TABLE cellPadding=3D10 align=3Dright>
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<TR>
<TD><FONT face=3D"Comic Sans =
MS"></FONT></TD></TR></TBODY></TABLE>
<META content=3D"MSHTML 6.00.2800.1106" name=3DGENERATOR>
<DIV><FONT face=3D"Comic Sans MS" color=3D#000000=20
size=3D3></FONT> </DIV></TD></TR></TBODY></TABLE></DIV>
<BLOCKQUOTE dir=3Dltr=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=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, August 06, =
2003 2:45=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] =
filter</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma =
size=3D2>Hi=20
Gene,</FONT></SPAN></DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma =
size=3D2>Please see my=20
follow up clarification post on the comment on "the prior 52=20
weeks."</FONT></SPAN></DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma =
size=3D2>I did not=20
state nor intend to imply that MSN screeners weren't effective, =
but that=20
they would not produce the same results as those you would get =
when using=20
DGO/IBD RSRanks. It's worth noting for those that are unaware that =
the RS=20
values at free screening sites such as MSN are *not* the same as =
those=20
from IBD/DGO. The same is true of industry ranks, etc., as the=20
methdologies are quite different.</FONT></SPAN></DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma =
size=3D2>It does leave=20
a particular question, however, as to why you would find it =
necessary to=20
use free MSN screeners when you use several different subscription =
services (HGSI and Vectorvest) and also use Metastock for =
screening=20
(though I realize you probably use the QP2 data from the HGSI =
feed). HGSI,=20
in particular, closely mirrors the IBD/DGO RSranks and includes =
EPS ranks=20
as well. They also have a particularly comprehensive set of tools =
for=20
performing analysis of a stock's technicals and fundamentals. Why =
use so=20
many different tools? </FONT></SPAN></DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D890493319-06082003><FONT face=3DTahoma=20
size=3D2>Katherine</FONT></SPAN></DIV>
<DIV><SPAN class=3D890493319-06082003></SPAN><FONT face=3DTahoma =
size=3D2><SPAN=20
class=3D890493319-06082003><FONT face=3D"Times New Roman"=20
size=3D3></FONT></SPAN></FONT> </DIV>
<DIV><FONT face=3DTahoma size=3D2><SPAN=20
class=3D890493319-06082003></SPAN></FONT> </DIV>
<DIV><FONT face=3DTahoma size=3D2><SPAN=20
class=3D890493319-06082003> </SPAN>-----Original=20
Message-----<BR><B>From:</B> owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Gene=20
Ricci<BR><B>Sent:</B> Wednesday, August 06, 2003 2:31 =
PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM]=20
filter<BR><BR></DIV></FONT>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV><FONT face=3D"Comic Sans MS">Hi Katherine, I'm pretty sure =
that the=20
RS ranks are not based over the prior 52 weeks.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS">And, I have found the MSN =
screener to be=20
very effective. </FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV>
<DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=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=3Dkmalm@earthlink.net=20
href=3D"mailto:kmalm@earthlink.net">Katherine Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, August =
06, 2003=20
2:21 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM]=20
filter</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D281181619-06082003>Hi Jeff,</SPAN></DIV>
<DIV><SPAN class=3D281181619-06082003></SPAN> </DIV>
<DIV><SPAN class=3D281181619-06082003>I might add a note of =
caution on=20
using the MSN screener. That is, their RS ranks are based on a =
flat=20
change in price over the prior 52 weeks. This is significantly =
different than IBD's RS ranks, which are weighted so that the =
price=20
action in the most recent quarter carries more weight (40%), =
while=20
previous quarter's each carry 20% weight. The other difference =
in RS=20
ranks is that the database over which they are determined is =
very=20
different. RS ranks for the IBD are based on a universe of =
stocks=20
which includes *only* common stocks on the major US (NASDAQ,=20
NYSE, AMEX) and Canadian exchanges, plus closed end =
bond and=20
equity funds. From what I remember, MSN RS ranks are =
calculated across=20
all equities in the US markets, including warrants and =
preferreds.=20
While the RS ranks at MSN are indeed useful, you would not be=20
emulating the IBD rankings for purposes of filtering your=20
stocks.</SPAN></DIV>
<DIV><SPAN class=3D281181619-06082003></SPAN> </DIV>
<DIV><SPAN class=3D281181619-06082003>Katherine</SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr =
align=3Dleft><FONT face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of=20
</B>DMC197807<BR><B>Sent:</B> Wednesday, August 06, 2003 =
2:08=20
PM<BR><B>To:</B> =
canslim@lists.xmission.com<BR><B>Subject:</B> Re:=20
[CANSLIM] filter<BR><BR></FONT></DIV>
<DIV><FONT face=3DArial size=3D2>Jeff,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>If you're using a free =
scanner, why=20
don't you use the one Gene posted a couple of days ago (I'll =
repost=20
his post) and play with the criteria there. If I =
adjust=20
relative strength to 80 or above it spits out 15 =
names.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>As for CANSLIM criteria, =
after M one=20
supposes they are all important, and my descending order is =
no=20
better (could be a lot worse) than anyone else's. =
However, you=20
are asking a question that I answered 2 days ago, at least =
from my=20
perspective. This is from my note on 8/4 to =
Yien:</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><<Good, that's a bunch of information that you =
can't=20
use. Now, for some you<BR>can. There are only 3 =
numbers=20
which matter, when all the dust is settled.<BR>They are NOT =
p/e,=20
d/e, current ratio, PEG, profit margin or=20
inventory<BR>turnover.<BR><BR>THEY ARE: Price paid for =
shares,=20
Price received for shares, Time held.<BR><BR>Now, MILSCAN =
(Canslim=20
to some of you) is a very interesting approach, and<BR>can =
possibly,=20
with strong position and money management systems, help you=20
to<BR>buy low and sell high in a timely =
timeframe.<BR><BR>Here's how=20
I think of these factors, in descending order of=20
importance:<BR><BR><<M is for the market and the =
market=20
trend. We are at an inflection point<BR>here, so it's =
lookout=20
below, or perhaps lookout above.<BR><BR>N is for new highs =
in the=20
stock, breaking out above the pivot point<BR><BR>L is for an =
relative strength rating of 70 or better<BR><BR>A is for =
annual=20
earnings growth (this is for additional comfort)<BR><BR>C is =
for=20
current quarterly earnings (this is for additional =
comfort)<BR><BR>I=20
is for institutional sponsorship (this is a timing =
issue--I=20
think I trust<BR>the chart over this, for some =
reason)<BR><BR>S is=20
for supply of stock (looking for a relatively low no. of=20
shares--here I<BR>want to exclude the over-issued monsters =
like CSCO=20
and INTC where it will<BR>take a ton of momentum to move the =
billions of shares outstanding).<BR><BR>In closing, using TA =
and FA=20
together is a good idea, but when in conflict,<BR>trust the=20
TA. Remember, out of 7000 stocks we are looking for 1 =
or 2=20
names<BR>a week on which to carefully place our=20
hopes. >></DIV>
<DIV> </DIV>
<DIV><FONT face=3DArial size=3D2>DMC</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=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=3DJHend746@cox.net =
href=3D"mailto:JHend746@cox.net">Jeff=20
Henderson</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, =
August 06,=20
2003 11:40 AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: =
[CANSLIM]=20
filter</DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial">Sorry=20
about the misunderstanding I was using the CANSLIM =
acronym. <SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>I=92ll explain my =
filter=20
again.<SPAN style=3D"mso-spacerun: yes"> =
</SPAN>First off I=20
use MSN as my filter source. <SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>Here is my filter =
that I=20
use: current earnings per share (the same quarter a year=20
ago)>=3D70%, annual earnings per share over the past 5 =
years,=20
>=3D 24% compounded, shares outstanding<25,000,000, =
relative=20
strength> 80%.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DTahoma=20
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">-----Original=20
Message-----<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">From:</SPAN></B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com] <B><SPAN=20
style=3D"FONT-WEIGHT: bold">On Behalf Of=20
</SPAN></B>DMC197807<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> =
</SPAN></FONT><st1:date=20
Year=3D"2003" Day=3D"6" Month=3D"8"><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">Wednesday, =
August 06,=20
2003</SPAN></FONT></st1:date><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">=20
</SPAN></FONT><st1:time Minute=3D"23" Hour=3D"11"><FONT =
face=3DTahoma=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">11:23=20
AM</SPAN></FONT></st1:time><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma"><BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">To:</SPAN></B>=20
canslim@lists.xmission.com<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: =
[CANSLIM]=20
filter</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"><o:p> </o:p></SPAN></FONT></P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Jeff,</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">I don't=20
understand which filter/scan you are using, or what all =
your=20
variables mean. If you're using a public scan or=20
stockcharts, maybe you can put in a link=20
here?</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">If C =3D=20
capitalization and you are using only the top 30% of =
stocks you've=20
filtered out way too many stocks already. In =
capitalization=20
I only filter out the very top stocks, but that's just =
me. I=20
don't know what your S is. For relative strength I =
use the=20
top 40% of the market, that is, stocks outperforming=20
60%.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">I'm=20
willing to let some other names in because after this scan =
gives=20
me names, I'm happy to look through charts to find =
appropriate=20
patterns.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">DMC</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN =
style=3D"FONT-SIZE: 12pt">-----=20
Original Message ----- <o:p></o:p></SPAN></FONT></P></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; =
BORDER-TOP: medium none; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0in; MARGIN: =
5pt 0in 5pt 3.75pt; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; =
BORDER-BOTTOM: medium none">
<DIV style=3D"font-color: black">
<P class=3DMsoNormal=20
style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; =
FONT-FAMILY: Arial">From:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> <A=20
title=3DJHend746@cox.net =
href=3D"mailto:JHend746@cox.net">Jeff=20
Henderson</A> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; =
FONT-FAMILY: Arial">To:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> <A=20
title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">Canslim</A>=20
<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; =
FONT-FAMILY: Arial">Sent:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">=20
</SPAN></FONT><st1:date Year=3D"2003" Day=3D"6" =
Month=3D"8"><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Wednesday, =
August=20
06, 2003</SPAN></FONT></st1:date><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">=20
</SPAN></FONT><st1:time Minute=3D"2" Hour=3D"9"><FONT =
face=3DArial=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">9:02=20
AM</SPAN></FONT></st1:time><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; =
FONT-FAMILY: Arial">Subject:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> [CANSLIM] =
filter<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"><o:p> </o:p></SPAN></FONT></P></DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">After=20
reading O=92Neil=92s book I decided to use the filter =
C>=3D70,=20
A>=3D5, S<25,000,000, relative strength>80 and =
last=20
volume 1.5 average quarterly volume.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>To my dismay, =
no stocks=20
popped up.<SPAN style=3D"mso-spacerun: yes"> =
</SPAN>How=20
would you alter this=20
=
filter?<o:p></o:p></SPAN></FONT></P></BLOCKQUOTE></DIV></BLOCKQUOTE></BLO=
CKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE>=
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