RE: [CANSLIM] elder and triple screens

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] elder and triple screens
Date: Tue, 12 Aug 2003 08:22:40 -0500
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MessageHi Jeff and DMC,

I feel that I need to speak up here.

While I understand that there are many aspects to trading and that there are
many that can influence and/or be used in CANSLIM investing, Elder triple
screens, Elliott Wave theory, etc., have nothing to do with CANSLIM.

Let's stay on course so that the folks who are here for a particular discussion
and purpose, CANSLIM, are getting what they expect when they come here. I
wouldn't go to a 5 star French restaurant for a fast food burger. I wouldn't
expect to come to a CANSLIM list for broad trading discussions.

Focus, simplicity, disclipline and a deep knowledge of the trading methodology
are the hallmarks of Master Traders. Our purpose as members of this list is to
develop that mastery.

Katherine
  -----Original Message-----
  From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Henderson
  Sent: Tuesday, August 12, 2003 2:13 AM
  To: canslim@lists.xmission.com
  Subject: [CANSLIM] elder and triple screens




  DMC,



  Thank you for the book recommendations!  I just read Trading For a Living and
thought is was really informative.  I love his themes and dry humor on trading
"losers", alcoholics and other psychological dysfunctions.  I loved what he said
about treating trading psychological problems like you're in AA, "Good morning,
my name is Alex and I am a loser.  I have it in me to do serious financial
damage to my account." LOL



  Anyway, I have a question regarding his triple screens trading.  Has anybody
used this technical analysis before, and if you have, did you find that one of
the oscillators works better than the others?  I'm using a fast 5 day
stochastic, but I think he really suggests his very own Force Index and
Elder-Ray.  I was also thinking of adjusting his recommended stop losses to
compensate for possible whipsawing.  Any suggestions?  I was thinking of a
moving exit using 1.2 times the 10 day ADR and possibly switching over to the
parabolic system during a runaway trend.



  Thanks,

  Jeff H.



  --Original Message-----
  From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Fred Richards
  Sent: Monday, August 11, 2003 8:05 AM
  To: canslim@lists.xmission.com
  Subject: RE: [CANSLIM] a random thought



  Katherine is quite correct about using the A/D to help identify stocks to
consider and possibly add to one's portfolio.  I rely on setting up an alert
and/or stop loss point using a trailing stop to protect my position profits.
Then, if we get stopped out of a position, we consider re-buying the position
when the stock regains the stop loss point if the basic fundamentals and other
technical aspects remain within our overall criteria.  If not, we pass on
re-buying.



    -----Original Message-----
    From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Katherine Malm
    Sent: Monday, August 11, 2003 7:43 AM
    To: canslim@lists.xmission.com
    Subject: RE: [CANSLIM] a random thought

    Hi Jeff,



    In my experience, the A/D is a decent tool when buying into a long position
(limiting buys to A, B or C) but it's a lousy indicator of tops. I remember in
the March of 2000 that all the top stocks still had an "A" rating long after
they'd crashed off their tops. The 13 weeks included in the indicator makes is a
lagging indicator in my mind, too slow to catch the very near term price action
in a stock that often triggers sell rules.



    The IBD says they don't see it as a lagging indicator and that it is one of
their "fastest." Faster? Yes, faster than RS (52 weeks) or GRS (26 weeks), but
not "non-lagging" in my opinion.



    Katherine

      -----Original Message-----
      From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Henderson
      Sent: Monday, August 11, 2003 6:27 AM
      To: Canslim
      Subject: [CANSLIM] a random thought

      I was thinking that accumulation/distributor indicator seems to be a
valuable tool if there is a lot (for lack of a better term) of institutional
sponsorship.  What do y'all think?



      Jeff H.

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<BODY lang=3DEN-US style=3D"tab-interval: .5in" vLink=3Dpurple =
link=3Dblue>
<DIV><SPAN class=3D343271113-12082003>Hi Jeff and DMC,</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D343271113-12082003>I feel that I need to speak up=20
here.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D343271113-12082003>While I understand that there are =
many=20
aspects to trading and that there are many that can influence and/or be =
used in=20
CANSLIM investing, Elder triple screens, Elliott Wave theory, etc., have =
nothing=20
to do with CANSLIM.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN><SPAN=20
class=3D343271113-12082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D343271113-12082003>Let's stay on course so that the =
folks who=20
are here for a particular discussion and purpose, CANSLIM, are getting =
what they=20
expect when they come here. I wouldn't go to a 5 star French restaurant =
for a=20
fast food burger. I wouldn't expect to come to a CANSLIM list for broad =
trading=20
discussions.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D343271113-12082003>Focus, simplicity, disclipline and =
a deep=20
knowledge of the&nbsp;trading methodology&nbsp;are the hallmarks of =
Master=20
Traders. Our purpose as members of this list is to develop that=20
mastery.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN><SPAN=20
class=3D343271113-12082003>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>Jeff=20
  Henderson<BR><B>Sent:</B> Tuesday, August 12, 2003 2:13 =
AM<BR><B>To:</B>=20
  canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM] elder and =
triple=20
  screens<BR><BR></FONT></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"><o:p>&nbsp;</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">DMC,<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>&nbsp;</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">Thank you =
for the=20
  book recommendations!<SPAN style=3D"mso-spacerun: yes">&nbsp; </SPAN>I =
just read=20
  <U>Trading <SPAN class=3DGramE>For</SPAN> a Living</U> and thought is =
was really=20
  informative.<SPAN style=3D"mso-spacerun: yes">&nbsp; </SPAN>I love his =
themes=20
  and dry humor on trading &#8220;losers&#8221;, alcoholics and other =
psychological=20
  dysfunctions.<SPAN style=3D"mso-spacerun: yes">&nbsp; </SPAN>I loved =
what he=20
  said about treating trading psychological problems like you&#8217;re =
in AA, &#8220;Good=20
  morning, my name is Alex and I am a loser. <SPAN=20
  style=3D"mso-spacerun: yes">&nbsp;</SPAN>I have it in me to do serious =
financial=20
  damage to my account.&#8221; LOL<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>&nbsp;</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">Anyway, I =
have a=20
  question regarding his triple screens trading. <SPAN=20
  style=3D"mso-spacerun: yes">&nbsp;</SPAN>Has anybody used this =
technical=20
  analysis before, and if you have, did you find that one of the =
oscillators=20
  works better than the others?<SPAN style=3D"mso-spacerun: yes">&nbsp; =
</SPAN>I&#8217;m=20
  using a fast 5 day stochastic, but I think he really suggests his very =
own=20
  Force Index and Elder-Ray.<SPAN style=3D"mso-spacerun: yes">&nbsp; =
</SPAN>I was=20
  also thinking of adjusting his recommended stop losses to compensate =
for=20
  possible whipsawing. <SPAN style=3D"mso-spacerun: =
yes">&nbsp;</SPAN><SPAN=20
  class=3DGramE>Any suggestions?</SPAN><SPAN style=3D"mso-spacerun: =
yes">&nbsp;=20
  </SPAN>I was thinking of a moving exit using 1.2 times the 10 day ADR =
and=20
  possibly switching over to the parabolic system during a runaway=20
  trend.<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>&nbsp;</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">Thanks,<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">Jeff=20
  H.<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>&nbsp;</o:p></SPAN></FONT></P>
  <P class=3DMsoNormal><FONT face=3DTahoma size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">--Original=20
  Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: bold">From:</SPAN></B>=20
  </SPAN></FONT><st1:PersonName><FONT face=3DTahoma size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">owner-canslim@lists.xmission.com</SPAN></FONT></st1:PersonName><F=
ONT=20
  face=3DTahoma size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">=20
  [mailto:</SPAN></FONT><st1:PersonName><FONT face=3DTahoma =
size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">owner-canslim@lists.xmission.com</SPAN></FONT></st1:PersonName><F=
ONT=20
  face=3DTahoma size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">]=20
  <B><SPAN style=3D"FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Fred=20
  Richards<BR><B><SPAN style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B>=20
  </SPAN></FONT><st1:date Year=3D"2003" Day=3D"11" Month=3D"8"><FONT =
face=3DTahoma=20
  size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">Monday, =
August 11,=20
  2003</SPAN></FONT></st1:date><FONT face=3DTahoma size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> =
</SPAN></FONT><st1:time=20
  Minute=3D"5" Hour=3D"8"><FONT face=3DTahoma size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">8:05=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] a random =

  thought</SPAN></FONT></P>
  <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
  size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"><o:p>&nbsp;</o:p></SPAN></FONT></P>
  <DIV>
  <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
color=3Dblue=20
  size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial">Katherine =
is quite=20
  correct about using the A/D to help identify stocks to consider and =
possibly=20
  add to one's portfolio.&nbsp; I rely on setting up an alert and/or =
stop loss=20
  point using a trailing stop to protect my position profits.&nbsp; =
Then, if we=20
  get stopped out of a position, we consider re-buying the position when =
the=20
  stock regains the stop loss point if the basic fundamentals and other=20
  technical aspects remain within our overall criteria.&nbsp; If not, we =
pass on=20
  re-buying.</SPAN></FONT><o:p></o:p></P></DIV>
  <DIV>
  <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
  size=3D3><SPAN style=3D"FONT-SIZE: =
12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
  <BLOCKQUOTE style=3D"MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; =
MARGIN-RIGHT: 0in">
    <P class=3DMsoNormal=20
    style=3D"MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0.5in; MARGIN-RIGHT: 0in; =
mso-margin-top-alt: 0in"><FONT=20
    face=3DTahoma size=3D2><SPAN=20
    style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
    Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: =
bold">From:</SPAN></B>=20
    owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]=20
    <B><SPAN style=3D"FONT-WEIGHT: bold">On Behalf Of =
</SPAN></B>Katherine=20
    Malm<BR><B><SPAN style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B>=20
    </SPAN></FONT><st1:date Year=3D"2003" Day=3D"11" Month=3D"8"><FONT =
face=3DTahoma=20
    size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">Monday, August 11,=20
    2003</SPAN></FONT></st1:date><FONT face=3DTahoma size=3D2><SPAN=20
    style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> =
</SPAN></FONT><st1:time=20
    Minute=3D"43" Hour=3D"7"><FONT face=3DTahoma size=3D2><SPAN=20
    style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">7:43=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] a =
random=20
    thought</SPAN></FONT><o:p></o:p></P>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN style=3D"FONT-SIZE: 12pt">Hi=20
    Jeff,<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN style=3D"FONT-SIZE: 12pt">In my experience, the A/D =
is a decent=20
    tool when buying into a long position (limiting buys to A, B or C) =
but it's=20
    a lousy indicator of tops. I remember in the March of 2000 that all=20
    the&nbsp;top stocks still had an "A" rating long after they'd =
crashed off=20
    their tops. The 13 weeks included in the indicator makes is a =
lagging=20
    indicator in my mind, too slow to catch the very near term price =
action in a=20
    stock that often triggers sell =
rules.<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN style=3D"FONT-SIZE: 12pt">The IBD says they don't see =
it as a=20
    lagging indicator and that it is one of their "fastest." Faster? =
Yes, faster=20
    than RS (52 weeks) or GRS (26 weeks), but not "non-lagging" in my=20
    opinion.<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: =
12pt">Katherine<o:p></o:p></SPAN></FONT></P></DIV>
    <BLOCKQUOTE=20
      style=3D"MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-RIGHT: =
0in"><P=20
      class=3DMsoNormal=20
      style=3D"MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0.5in; MARGIN-RIGHT: =
0in; mso-margin-top-alt: 0in"><FONT=20
      face=3DTahoma size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
      Message-----<BR><B><SPAN 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 </SPAN></B>Jeff=20
      Henderson<BR><B><SPAN style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> =

      </SPAN></FONT><st1:date Year=3D"2003" Day=3D"11" Month=3D"8"><FONT =
face=3DTahoma=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">Monday, August=20
      11, 2003</SPAN></FONT></st1:date><FONT face=3DTahoma =
size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> =
</SPAN></FONT><st1:time=20
      Minute=3D"27" Hour=3D"6"><FONT face=3DTahoma size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">6:27=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> Canslim<BR><B><SPAN=20
      style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> [CANSLIM] a random =

      thought</SPAN></FONT><o:p></o:p></P>
      <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 was =
thinking=20
      that accumulation/distributor indicator seems to be a valuable =
tool if=20
      there is a lot (for lack of a better term) of institutional=20
      sponsorship.<SPAN style=3D"mso-spacerun: yes">&nbsp; </SPAN>What =
do y&#8217;all=20
      think?<SPAN style=3D"mso-spacerun: yes">&nbsp;=20
      </SPAN><o:p></o:p></SPAN></FONT></P>
      <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"><o:p>&nbsp;</o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Jeff=20
      =
H.<o:p></o:p></SPAN></FONT></P></BLOCKQUOTE></BLOCKQUOTE></DIV></BLOCKQUO=
TE></BODY></HTML>

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