Go to Jeff Salisbury LWGate Home Page.From: "Charles & Lois Layne" <lelayne@earthlink.net>
Subject: Re: [CANSLIM] filter
Date: Thu, 7 Aug 2003 07:55:28 -0400
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----- Original Message -----=20
From: Mark Crisp=20
To: canslim@lists.xmission.com=20
Sent: Thursday, August 07, 2003 5:45 AM
Subject: Re: [CANSLIM] filter
Look,
I think many of you are making CANSLIM much more complicated that it =
really is.
This is how I have been trading very successfully for a number of =
years.
I got a chuckle out of your first sentence. For years, I filtered, =
tracked, charted, and analyzed stock after stock. I poured through IBD, =
jotting down numbers meeting my criteria. I sifted through my stock =
analysis service multiple times weekly (daily, when I could). My =
fruits? I was happy if I could make a couple of hundred on a stock =
after holding for a couple of years or more (mind you, I usually just =
had 100 shares of an issue).
Then one day, I come home and my wife tells me she made a couple of =
hundred that day in the stock market. OK, I'm interested. She had been =
watching one of her favorites, WMT, for some time. Finally, when she =
noted a short-term trading pattern and was fairly secure with it, she =
bought a few hundred shares and sold out on a small move. No long hours =
pouring over all the numbers and details and everything else. I =
couldn't help but shake my head in wonderment.
So now, that's about how we do it. No IBD, no charting service, etc. =
We currently have positions in just two stocks, neither of which are =
CANSLIM candidates, I'm sure. We'll hold minutes, hours, days, or =
weeks, depending on the movement. At any rate, doing this, I usually =
make much more in a trade than I used to holding on for years. I don't =
have the cost of various subscription services, and I don't spend =
overwhelming hours pouring over charts and information (I never minded =
doing this some, but I liked to see some fruits). Of course, we =
couldn't do this a few years ago before the discount brokers and =
internet access we have today. But, they are available now, so we try =
to take advantage of them.
Well, this is not CANSLIM, so I'll not continue. I do enjoy keeping up =
with some of the CANSLIM principles, though, so I really appreciate the =
forum conversation.
Chuck Layne
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<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=3Dstressfreetrader@btopenworld.com=20
href=3D"mailto:stressfreetrader@btopenworld.com">Mark Crisp</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> Thursday, August 07, 2003 =
5:45=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
filter</DIV>
<DIV><FONT face=3DArial size=3D2></FONT><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Look,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2> I think many of you are making =
CANSLIM much=20
more complicated that it really is.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2> This is how I have been =
trading very=20
successfully for a number of years.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT> </DIV></BLOCKQUOTE>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT> </DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>I got =
a chuckle out=20
of your first sentence. For years, I filtered, tracked, =
charted, and=20
analyzed stock after stock. I poured through IBD, jotting down =
numbers=20
meeting my criteria. I sifted through my stock analysis service =
multiple=20
times weekly (daily, when I could). My fruits? I was =
happy if I=20
could make a couple of hundred on a stock after holding for a couple of =
years or=20
more (mind you, I usually just had 100 shares of an=20
issue).</o:p></SPAN></FONT></DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT> </DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>Then one day, I come =
home and=20
my wife tells me she made a couple of hundred that day in the stock=20
market. OK, I'm interested. She had been watching one of her =
favorites, WMT, for some time. Finally, when she noted a =
short-term=20
trading pattern and was fairly secure with it, she bought a few hundred =
shares=20
and sold out on a small move. No long hours pouring over all the =
numbers=20
and details and everything else. I couldn't help but shake my head =
in=20
wonderment.</o:p></SPAN></FONT></DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT> </DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>So now, that's about =
how we do=20
it. No IBD, no charting service, etc. We currently have=20
positions in just two stocks, neither of which are CANSLIM =
candidates, I'm=20
sure. We'll hold minutes, hours, days, or weeks, depending on the=20
movement. At any rate, doing this, I usually make much more in a =
trade=20
than I used to holding on for years. I don't have the cost of =
various=20
subscription services, and I don't spend overwhelming hours pouring over =
charts=20
and information (I never minded doing this some, but I liked to see some =
fruits). Of course, we couldn't do this a few years ago before the =
discount brokers and internet access we have today. But, they=20
are available now, so we try to take advantage of=20
them.</o:p></SPAN></FONT></DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT> </DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>Well, this is not =
CANSLIM, so=20
I'll not continue. I do enjoy keeping up with some of the CANSLIM=20
principles, though, so I really appreciate the forum=20
conversation.</o:p></SPAN></FONT></DIV>
<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p></o:p></SPAN></FONT> </DIV>
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<DIV dir=3Dltr><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>Chuck=20
Layne</o:p></SPAN></FONT></DIV>
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style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
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