Re: [CANSLIM] for Short Selling

From: Fanus <fanus13@yahoo.com>
Subject: Re: [CANSLIM] for Short Selling
Date: Sun, 10 Aug 2003 12:46:38 -0700 (PDT)
Next Article (by Subject): RE: [CANSLIM] short selling (WEBX) "Katherine Malm"
Previous Article (by Subject): [CANSLIM] a random thought "Jeff Henderson"
Articles sorted by: [Date] [Author] [Subject]
DMC

Below is a fraction of the welcome e-mail Jeff sent to
each one when you subscribe.  Since you are a member
for about 10 trading days, this should still be fresh
in your mind.

- ---Start of quote
This is an unmoderated discussion group whose purpose
is to provide a forum for individuals to:

1. Discuss the ideas and concepts of CANSLIM.
2. Add to the concepts of CANSLIM from personal
experience.
3. Exchange sources of information on the internet
that can be used to select stocks using the CANSLIM
methodology.
4. Discuss specific equities and how they may or may
not meet the CANSLIM criteria.
- ---End of quote.

I agree with all your points about shorting in bear
markets, etc. My point is just that if you are
interested to discuss topics other than CANSLIM, there
are appropriate groups to do so.  If you can make a
good arguement on why any kind of shorting is part of
CANSLIM, then I would be interested to hear it.  If
you can't, then I don't understand your insistence to
discuss something off topic.  You don't go to the
dentist after all and insist that he discuss your knee
pain with you. There is a right place for everything.

I think I have tried to make my point enough now.  I
will not bore the list again about this topic.

Best Regards
- - Fanus


- --- DMC197807 <dmc197807@comcast.net> wrote:
> Rolf & Mark,
> 
> My vote (if I get a vote) is why not discuss how to
> use canslim ideas to
> generate potential shorts?  It's not like this
> little epistolary group
> hasn't gone off the track since I've been here
> (about 10 trading days), and
> it's not like it takes a lifetime to figure out
> Canslim in any event.  It's
> really rather simple, and with the help of computers
> it's almost too easy.
> The real difficulty lies in disciplining oneself to
> limit or get rid of
> longs in sideways and topping markets, and be
> willing to reenter when the
> market's correction has ended and stocks are ready
> to rise again.  You can
> find the names of candidates very easily for a
> little coin paid for a
> subscription to IBD and/or a subscription to
> canslim.net.
> 
> For short discussions, let's just use the above
> referenced subject line
> "Re: [CANSLIM] for Short Selling"
> 
> and the purists like Fanus et al (so far it seems to
> be all Fanus) can
> either eyeball them and delete them, or even program
> their Outlook Express
> to pre-delete all messages on the peripheral topic.
> 
> I think it would be helpful to understand what kind
> of screen would generate
> the opposite of good longs in a bad market, if only
> for academic,
> mind-sharpening purposes.  After all, if in
> traditional canslim technique
> you are looking for 1 or 2 stocks to buy per week in
> a good (M!) market,
> then why not reverse the order in a bad (M!) market.
> 
> With that in mind, I'd like to explore what kinds of
> things people think
> would indicate a dangerous market, knowing in
> advance that calling a top is
> one of the hardest things to do BUT that falls tend
> to be so much more
> precipitous than climbs that there's gold in those
> hills if you can time it
> right and buy a put to get into position.
> 
> In any event, VTO has provided a very handy site
> with lots of sentiment
> indicators:
> 
> http://www.vtoreport.com/sentiment/cot.htm
> 
> If you click on Sentiment and Bull/Bear you can see
> a very wide gap between
> bullish and bearish advisors, the kind which
> indicates a correction is
> coming.  I'd say anytime you see a gap of 25% or
> more (with the bulls on
> top) you are looking at a dangerous situation.
> 
> The Put/Call ratio has been very low and is now
> climbing.  Again danger.
> 
> The VIX has been unnaturally low for a long time,
> another coiled spring.
> 
> For COTS, I prefer to use the Quasimodos.com site:
> 
> http://www.quasimodos.com/marketrider/technical.php
> 
> The articles are interesting, and to get the reports
> and COTs page, click
> here:
> 
> http://www.quasimodos.com/marketrider/charts.php
> 
> You can't paste the sites, but the first 3 on the
> right, for the Dow, the
> Naz and the SPX have a very interesting graphic
> display of the traders'
> positions.  I don't know exactly what the timing is
> on these but the smart
> money seems to be betting against this market
> continuing, while the small
> speculators keep piling on the positions.  Good bull
> markets (like the one
> we had from March to June) often begin with very
> small bars.
> 
> DMC
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> From: "Mark Kerson" <mkerson@dplus.net>
> To: <canslim@lists.xmission.com>
> Sent: Saturday, August 09, 2003 11:13 AM
> Subject: RE: [CANSLIM] short selling (WEBX)
> 
> 
> > I don't know.
> >
> > It does not seem inappropriate to discuss using
> CANSLIM to short on this
> > site.
> >
> >
> > In IBD, Thursday, August 7, 2003, on the front
> page of B1, in Investor's
> > Corner, the last line of the box under "Advanced
> Study" says, "Learn to
> > sell shares short during a market decline (see
> Feb. 14 Corner)"
> >
> > It seems possible (at least logical, I certainly
> can't claim that I have
> > done it or know anyone who has) to reverse the
> principles and choose
> > shorts. Therefore if someone is interested in
> exploring it, well, I
> > don't see why we can't.
> >
> > At any rate I would like too follow such a
> discussion.
> >
> > Mark
> >
> >
> > -----Original Message-----
> > From: owner-canslim@lists.xmission.com
> > [mailto:owner-canslim@lists.xmission.com] On
> Behalf Of Fanus
> > Sent: Saturday, August 09, 2003 1:16 PM
> > To: canslim@lists.xmission.com
> > Subject: Re: [CANSLIM] short selling (WEBX)
> >
> > Rolf
> >
> > Yes, WON spent about 3 pages on short selling in
> his
> > book of about 270 pages. And in these three pages
> he
> > showed two chart patterns and doesn't mention any
> of
> > the CANSLIM attributes, or reverse of them for
> > shorting.  HTTMIS mentioned lots of other things
> also,
> > but this isn't a group to discuss HTTMIS. It is a
> > group to discuss CANSLIM.
> >
> > Just because he mentioned short selling in the
> book,
> > doesn't make it CANSLIM. He also mentioned
> daytrading
> > and swingtrading in his book. Also not CANSLIM. If
> you
> > decide to use reverse CANSLIM criteria to pick
> shorts
> > then it is fine.  But this doesn't make it CANSLIM
> and
> > is not mentioned by WON at all as shorting
> criteria.
> > Any rules you use for shorting is your rules and
> not
> > WON's rules for CANSLIM.
> >
> > To use the criteria below, where in CANSLIM, or
> HTTMIS
> > for that matter, is the "ANI" criteria mentioned
> as
> > valid shorting criteria?
> >
> > If you want to learn more about selling short, why
> not
> > find a discussion group which main goal is to
> discuss
> > shorting methods and criteria?  I sell short
> stocks
> > too and I am not against shorting. I am just
> against
> > discussing it out of place.
> >
> > Best Regards
> > - Fanus
> >
> > --- Rolf Hertenstein <rolfh@mindspring.com> wrote:
> > > ----- Original Message -----
> 
=== message truncated ===


__________________________________
Do you Yahoo!?
Yahoo! SiteBuilder - Free, easy-to-use web site design software
http://sitebuilder.yahoo.com




- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.
Go to Jeff Salisbury LWGate Home Page.