RE: [CANSLIM] filter

From: "Jeff Henderson" <JHend746@cox.net>
Subject: RE: [CANSLIM] filter
Date: Thu, 7 Aug 2003 00:21:38 -0500
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Fanus,

Understood... actually my problem was that I assumed too much.  I read
WON's book, but then I read another book that had a synopsis of WON's
and I assumed it was accurate.

Good point,
Jeff

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Fanus
Sent: Wednesday, August 06, 2003 5:35 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] filter

Jeff

As you can see from the other replies, you have
several of your criteria wrong even though you thought
that you use the EXACT recommendations.  Can I
respectfully suggest that you reread HTMMIS. You
probably have misunderstood several other things also.
 I have read it several times and each time find
something new, or something I just forget about
already.  

It is dangerous to start investing using a specific
style if you do not clearly understand everything. I
can understand that the excitement can run high when
you want to start with something, but believe me, this
can fade quickly once you start losing money and that
would be easy then to give up on CANSLIM because it
"doesn't work", but the real reason is that you didn't
really understand it.

Regards
- - Fanus


- --- Jeff Henderson <JHend746@cox.net> wrote:
> Ok, for the sake of organization here is a link to
> my filter:
>
http://moneycentral.msn.com/investor/invsub/finder/finderx.asp?Query=SV1
>
QF153Z04L70ZF131Z04L24ZF3Z00F233Z05L25000000ZF307Z04L80ZF5Z04L1%2e5F116M
> ZF116Z00F102Z04L10Z
>
<http://moneycentral.msn.com/investor/invsub/finder/finderx.asp?Query=SV
>
1QF153Z04L70ZF131Z04L24ZF3Z00F233Z05L25000000ZF307Z04L80ZF5Z04L1%2e5F116
> MZF116Z00F102Z04L10Z&Name=o%27neal&Tickers=25>
> &Name=o%27neal&Tickers=25
>  
> As I mentioned earlier I am using the EXACT
> recommendations from
> O'Neil's book but I am getting NO query results. 
> Why is this?  Are
> WON's standards too high?  What fundamentals should
> I be using?  I
> assume we all can agree on the CANSLIM methods but I
> guess there is
> disagreement in the specific numbers to be used.
>  
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com] On Behalf
> Of Katherine Malm
> Sent: Wednesday, August 06, 2003 2:46 PM
> To: canslim@lists.xmission.com
> 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? 
>  
> 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. 
>  
> Gene
> ----- Original Message ----- 
> From: Katherine Malm <mailto:kmalm@earthlink.net>  
> To: canslim@lists.xmission.com 
> 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 
=== message truncated ===


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