Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] elder and triple screens
Date: Tue, 12 Aug 2003 11:00:55 -0500
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MessageHi DMC,
A fair question. I stay in close contact with our list owner, Jeff Salisbury.
However, I am a volunteer as is everybody on the list and I do not speak for
Jeff. Before you arrived, Tom Worley, who you may have seen mentioned here, was
a long time member of the list and the defacto "glue." But Tom was also a
volunteer with no official title. We lost him to a tragic accident the end of
April.
A fresh point of view from anybody is always welcome, but we just need to be
sure that we don't get too far afield. A singular focused topic, CANSLIM
investing, has allowed us to stay an active and civil list for over 10 years.
People know they can come here and talk CANSLIM. CANSLIM has many aspects, the
methodology itself, money management, trading psychology, buy rules, sell rules,
reading charts, interpreting fundamentals, reading the Market direction,
software/tools/services in support of the methodology/trading and more,
including "advanced" topics such as shorting, reading trend lines, etc. Those
topics alone can keep us busy for a lifetime.
Something like Elder triple screens is just too far off track. There are
thousands of lists devoted to more general aspects of trading, to other
investment styles, trading time frames, etc. The main idea is to just move those
kinds of discussions to their approriate location.
All we ask of our members is to stay on topic and be respectful of each other
when posting.
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of DMC197807
Sent: Tuesday, August 12, 2003 10:27 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] elder and triple screens
Question for you, Katherine,
Do you have an official title here, or are you just a poster like the rest?
Put another way, are you an official threadmom, or a volunteer?
DMc
----- Original Message -----
From: Katherine Malm
To: canslim@lists.xmission.com
Sent: Tuesday, August 12, 2003 7:39 AM
Subject: RE: [CANSLIM] elder and triple screens
DMC,
Here we respectfully recognize WON as the person who put us on this
specific investing track. He is one of many of our teachers. Respect and
idolatry are very different.
As I suggested, there are many aspects of trading. Some of the folks here
are extremely new to CANSLIM. They struggle with the simplest aspects of the
methodology including reading simple price/volume action in a chart, spotting
rises and bases, support and resistence, etc. They struggle with understanding
the difference between an EPS rank and EPS quarter over quarter. They struggle
with understanding the difference between an RSLine and and RSRank. They
struggle with understanding how to go about finding stocks for their watchlist
using CANSLIM parameters. As all of us were beginners at one time, the beauty of
a list like this is that it provides a safe environmnent where one can come and
ask questions and those who've been there can help. I wish the list had been
here when I was a beginning CANSLIMer. It would have saved me a boatload of
mistakes (and tuition).
Others are not new to CANSLIM, they have the basics under control, but they
still struggle with sell rules. They might be struggling with determining which
are the key elements of mining for stocks, which order of importance to place
on them, etc. They have built a personal knowledgebase built on years and years
of trading in the CANSLIM style and know where minefields and pitfalls tend to
be, but low and behold discover new ones in a Bear Market. They question their
own assumptions, they ask for help, they pose questions as to whether the
underlying assumptions are still valid. They share their experiences with
trading this particular methodology. And without a doubt they read and study
each and every day. They may start with 20 pages in HTMMIS, but their libraries
are filled with books on market cycles, technical analysis, value investing,
growth investing, mechanical systems, market history, etc.
But they come here to discuss CANSLIM and share their experiences with
CANSLIM investing based on what they've learned.
Stay on track. There are nearly 800 voices on the list.
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of DMC197807
Sent: Tuesday, August 12, 2003 9:17 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] elder and triple screens
Katherine & Jeff,
First, I would agree with Katherine that a detailed discussion of what
settings to use on different oscillators is afield from the purpose of the
board. I'd suggest you scope out the Silicon Investor sites as a starting
point:
http://www.siliconinvestor.com/stocktalk/sub_hot.gsp
As for generalized discussions of how to read charts, etc., what kinds of
time-frames to look at, etc., I think that's what makes a good investor no
matter what the approach. It is an absolutely vital part of making a keeping
profits. In this approach, where you basically sit down with a scanning program
that can spit out 10-12 names per day, it is vital to develop one's own
discipline and chart reading ability. Also, it's key to understand Gann,
Fibonacci, Elliot, etc. if only to keep slick talk and slick reasoning from an
extraneous source from pushing you into a speculative position with little else
to support it.
Sometimes this thread reminds me of the church, where you want to ground
your reasons in scripture.
(Holy Moly, we actually had a sighting--was it an epiphany?-on Kudlow and
Cramer last night of the Great One, the one who goes by His Initials, His Nibs,
WON. I hope all the true believers tuned in for the sound bites).
Hokay, so, let me just cite pages 44-78 and 160-180 in HTMMIS as the basis
for maintaining a broad interest in macro and micro charts and differing
approaches. What's almost laughable is the title of chapter 15: "How to Read
Charts Like an Expert . . ."
In only 20 pages!
Jeff, in response to your original question, as a general matter, it is
always best to look across time frames for confirmation that what you're looking
at is what you're looking at. If the micro trend (hourly) is good and the daily
looks great, don't forget to check the weekly before you commit. That is the
gist (and the takeaway) of Elder, at least to me. The most comprehensive
treatment of triple screening technique (btw, you can get free triple screens on
one page by using Stockcharts' gallery views) is Farley's "Master Swing Trader."
Not a recommendation quite yet but if you stumbled over a copy it might be worth
it to read a few chapters.
When you're wondering if you should sell, again you need to check not only
the daily price action but how it all fits into the weekly or monthly charts.
In the list of books I posted before was Murphy's basic text: that will give
you a good grounding in many, many topics.
DMC
----- Original Message -----
From: Katherine Malm
To: canslim@lists.xmission.com
Sent: Tuesday, August 12, 2003 6:22 AM
Subject: RE: [CANSLIM] elder and triple screens
Hi 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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<DIV><SPAN class=3D343392915-12082003>Hi DMC,</SPAN></DIV>
<DIV><SPAN class=3D343392915-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343392915-12082003>A fair question. I stay in close =
contact=20
with our list owner, Jeff Salisbury. However, I am a volunteer as is =
everybody=20
on the list and I do not speak for Jeff. Before you arrived, Tom =
Worley,=20
who you may have seen mentioned here, was a long time member of the =
list=20
and the defacto "glue." But Tom was also a volunteer with no official =
title. We=20
lost him to a tragic accident the end of April.</SPAN></DIV>
<DIV><SPAN class=3D343392915-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343392915-12082003>A fresh point of view from anybody =
is always=20
welcome, but we just need to be sure that we don't get too far afield. A =
singular focused topic, CANSLIM investing, has allowed us to stay =
an active=20
and civil list for over 10 years. People know they can come here =
and talk=20
CANSLIM. CANSLIM has many aspects, the methodology itself, money =
management,=20
trading psychology, buy rules, sell rules, reading charts, interpreting=20
fundamentals, reading the Market direction, software/tools/services in =
support=20
of the methodology/trading and more, including "advanced" topics =
such as=20
shorting, reading trend lines, etc. Those topics alone can keep us =
busy for=20
a lifetime. </SPAN></DIV>
<DIV><SPAN class=3D343392915-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343392915-12082003>Something like Elder triple =
screens is=20
just too far off track. </SPAN><SPAN class=3D343392915-12082003>There =
are=20
thousands of lists devoted to more general aspects of trading, to other=20
investment styles, trading time frames, etc. The main idea is to just =
move those=20
kinds of discussions to their approriate location.</SPAN></DIV>
<DIV><SPAN class=3D343392915-12082003></SPAN><SPAN=20
class=3D343392915-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343392915-12082003>All we ask of our members is to =
stay on=20
topic and be respectful of each other when posting. </SPAN></DIV>
<DIV><SPAN class=3D343392915-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343392915-12082003>Katherine</SPAN></DIV>
<DIV><SPAN class=3D343392915-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343392915-12082003></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> Tuesday, August 12, 2003 10:27 =
AM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM] elder and =
triple=20
screens<BR><BR></FONT></DIV>
<DIV><FONT face=3DArial size=3D2>Question for you, =
Katherine,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Do you have an official title here, =
or are you=20
just a poster like the rest? Put another way, are you an =
official=20
threadmom, or a volunteer?</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </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=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>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, August 12, =
2003 7:39=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] elder =
and triple=20
screens</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D843592114-12082003>DMC,</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>Here we respectfully =
recognize WON=20
as the person who put us on this specific investing track. He is one =
of many=20
of our teachers. Respect and idolatry are very =
different.</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>As I suggested, there are many =
aspects=20
of trading. Some of the folks here are extremely new to CANSLIM. =
They=20
struggle with the simplest aspects of the methodology including =
reading=20
simple price/volume action in a chart, spotting rises and bases, =
support and=20
resistence, etc. They struggle with understanding the difference =
between an=20
EPS rank and EPS quarter over quarter. They struggle with =
understanding the=20
difference between an RSLine and and RSRank. They struggle with=20
understanding how to go about finding stocks for their watchlist =
using=20
CANSLIM parameters. As all of us were beginners at one time, the =
beauty of a=20
list like this is that it provides a safe environmnent where one can =
come=20
and ask questions and those who've been there can help. I wish the =
list had=20
been here when I was a beginning CANSLIMer. It would have saved me a =
boatload of mistakes (and tuition).</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>Others are not new to CANSLIM, =
they have=20
the basics under control, but they still struggle with sell rules. =
They=20
might be struggling with determining which are the key elements =
of =20
mining for stocks, which order of importance to place on them, etc. =
They=20
have built a personal knowledgebase built on years and years of =
trading in=20
the CANSLIM style and know where minefields and pitfalls tend to be, =
but low=20
and behold discover new ones in a Bear Market. They question their =
own=20
assumptions, they ask for help, they pose questions as to whether =
the=20
underlying assumptions are still valid. They share their experiences =
with=20
trading this particular methodology. And without a doubt they read =
and study=20
each and every day. They may start with 20 pages in HTMMIS, but =
their=20
libraries are filled with books on market cycles, technical =
analysis, value=20
investing, growth investing, mechanical systems, market =
history,=20
etc.</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>But they come here to discuss =
CANSLIM=20
and share their experiences with CANSLIM investing based on what =
they've=20
learned.</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>Stay on track. There are=20
nearly 800 voices on the list.</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>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=20
</B>DMC197807<BR><B>Sent:</B> Tuesday, August 12, 2003 9:17=20
AM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> Re: =
[CANSLIM] elder and triple screens<BR><BR></FONT></DIV>
<DIV><FONT face=3DArial size=3D2>Katherine & =
Jeff,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>First, I would agree with =
Katherine that a=20
detailed discussion of what settings to use on different =
oscillators is=20
afield from the purpose of the board. I'd suggest you scope =
out the=20
Silicon Investor sites as a starting point:</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2><A=20
=
href=3D"http://www.siliconinvestor.com/stocktalk/sub_hot.gsp">http://www.=
siliconinvestor.com/stocktalk/sub_hot.gsp</A></FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>As for generalized discussions of =
how to read=20
charts, etc., what kinds of time-frames to look at, etc., I think =
that's=20
what makes a good investor no matter what the approach. It =
is an=20
absolutely vital part of making a keeping profits. In this =
approach,=20
where you basically sit down with a scanning program that can spit =
out=20
10-12 names per day, it is vital to develop one's own discipline =
and chart=20
reading ability. Also, it's key to understand Gann, =
Fibonacci,=20
Elliot, etc. if only to keep slick talk and slick reasoning from =
an=20
extraneous source from pushing you into a speculative position =
with little=20
else to support it.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Sometimes this thread reminds me =
of the=20
church, where you want to ground your reasons in =
scripture.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>(Holy Moly, we actually had a =
sighting--was=20
it an epiphany?-on Kudlow and Cramer last night of the Great One, =
the one=20
who goes by His Initials, His Nibs, WON. I hope all the true =
believers tuned in for the sound bites).</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Hokay, so, let me just cite pages =
44-78 and=20
160-180 in HTMMIS as the basis for maintaining a broad interest in =
macro=20
and micro charts and differing approaches. What's almost =
laughable=20
is the title of chapter 15: "How to Read Charts Like an =
Expert . .=20
."</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>In only 20 pages! =
</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Jeff, in response to your =
original question,=20
as a general matter, it is always best to look across time frames =
for=20
confirmation that what you're looking at is what you're looking =
at. =20
If the micro trend (hourly) is good and the daily looks great, =
don't=20
forget to check the weekly before you commit. That is the =
gist (and=20
the takeaway) of Elder, at least to me. The most =
comprehensive=20
treatment of triple screening technique (btw, you can get free =
triple=20
screens on one page by using Stockcharts' gallery views) is =
Farley's=20
"Master Swing Trader." Not a recommendation quite yet but if =
you=20
stumbled over a copy it might be worth it to read a few=20
chapters.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>When you're wondering if you =
should sell,=20
again you need to check not only the daily price action but how it =
all=20
fits into the weekly or monthly charts. In the list of books =
I=20
posted before was Murphy's basic text: that will give you a =
good=20
grounding in many, many topics.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>DMC</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></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=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> Tuesday, August 12, =
2003 6:22=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] =
elder and=20
triple screens</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D343271113-12082003>Hi Jeff and =
DMC,</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343271113-12082003>I feel that I need to =
speak up=20
here.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343271113-12082003>While I understand that =
there are=20
many aspects to trading and that there are many that can =
influence=20
and/or be used in CANSLIM investing, Elder triple screens, =
Elliott Wave=20
theory, etc., have nothing to do with CANSLIM.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN><SPAN=20
class=3D343271113-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343271113-12082003>Let's stay on course so =
that the=20
folks who are here for a particular discussion and purpose, =
CANSLIM, are=20
getting what they expect when they come here. I wouldn't go to a =
5 star=20
French restaurant for a fast food burger. I wouldn't expect to =
come to a=20
CANSLIM list for broad trading discussions.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343271113-12082003>Focus, simplicity, =
disclipline and a=20
deep knowledge of the trading methodology are the =
hallmarks of=20
Master Traders. Our purpose as members of this list is to =
develop that=20
mastery.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN> </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=20
AM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> =
[CANSLIM] elder and triple 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> </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> </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=20
the book recommendations!<SPAN style=3D"mso-spacerun: =
yes"> =20
</SPAN>I just read <U>Trading <SPAN class=3DGramE>For</SPAN> a =
Living</U> and thought is was really informative.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>I love his themes =
and dry=20
humor on trading =93losers=94, alcoholics and other =
psychological=20
dysfunctions.<SPAN style=3D"mso-spacerun: yes"> </SPAN>I =
loved=20
what he said about treating trading psychological problems =
like you=92re=20
in AA, =93Good morning, my name is Alex and I am a loser. =
<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>I have it in me to do =
serious=20
financial damage to my account.=94 =
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> </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=20
have a question regarding his triple screens trading. <SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>Has anybody used this =
technical=20
analysis before, and if you have, did you find that one of the =
oscillators works better than the others?<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>I=92m using a fast 5 =
day=20
stochastic, but I think he really suggests his very own Force =
Index=20
and Elder-Ray.<SPAN style=3D"mso-spacerun: yes"> =
</SPAN>I was also=20
thinking of adjusting his recommended stop losses to =
compensate for=20
possible whipsawing. <SPAN=20
style=3D"mso-spacerun: yes"> </SPAN><SPAN =
class=3DGramE>Any=20
suggestions?</SPAN><SPAN style=3D"mso-spacerun: yes"> =
</SPAN>I was=20
thinking of a moving exit using 1.2 times the 10 day ADR and =
possibly=20
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> </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> </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=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">] <B><SPAN=20
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=20
face=3DTahoma size=3D2><SPAN=20
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=20
thought</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
color=3Dblue size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: =
Arial">Katherine is=20
quite correct about using the A/D to help identify stocks to =
consider=20
and possibly add to one's portfolio. I rely on setting =
up an=20
alert and/or stop loss point using a trailing stop to protect =
my=20
position profits. Then, if we get stopped out of a =
position, we=20
consider re-buying the position when the stock regains the =
stop loss=20
point if the basic fundamentals and other technical aspects =
remain=20
within our overall criteria. 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=20
face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<BLOCKQUOTE=20
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 =
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>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=20
face=3DTahoma size=3D2><SPAN=20
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">=20
</SPAN></FONT><st1:time Minute=3D"43" Hour=3D"7"><FONT =
face=3DTahoma=20
size=3D2><SPAN 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=20
face=3D"Times New Roman" 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=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">In my=20
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=20
tops. I remember in the March of 2000 that all the top =
stocks=20
still had an "A" rating long after they'd crashed off their =
tops.=20
The 13 weeks included in the indicator makes is a lagging =
indicator=20
in my mind, too slow to catch the very near term price =
action in a=20
stock that often triggers sell=20
rules.<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">The IBD=20
says they don't see it as a lagging indicator and that it is =
one of=20
their "fastest." Faster? Yes, faster than RS (52 weeks) or =
GRS (26=20
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=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">Katherine<o:p></o:p></SPAN></FONT></P></DIV>
<BLOCKQUOTE=20
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=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 </SPAN></B>Jeff=20
Henderson<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=20
face=3DTahoma size=3D2><SPAN=20
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">=20
</SPAN></FONT><st1:time Minute=3D"27" Hour=3D"6"><FONT =
face=3DTahoma=20
size=3D2><SPAN 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=20
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=20
thinking that accumulation/distributor indicator seems to =
be a=20
valuable tool if there is a lot (for lack of a better =
term) of=20
institutional sponsorship.<SPAN style=3D"mso-spacerun: =
yes"> =20
</SPAN>What do y=92all think?<SPAN style=3D"mso-spacerun: =
yes"> =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> </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></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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