Go to Jeff Salisbury LWGate Home Page.From: "DMC197807" <dmc197807@comcast.net>
Subject: Re: [CANSLIM] elder and triple screens
Date: Tue, 12 Aug 2003 09:43:18 -0700
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MessageKatherine,
I always try to ask fair questions. Sorry to hear about Tom, before my =
time unfortunately.
I agree a detailed discussion of Elder's triple screen technique =
(although it's just 8 short pages in his book) is not something people =
want to get bogged down in, but I am curious what the thread is willing =
to get bogged down in. For example, we had 10 or 11 posts this morning =
on streaming quotes (un-citable in my New Testament, er, HTMMIS). I =
would think a few notes on multi-time frame analysis of charts could be =
quite valuable, but that's just me. I didn't mind giving Jeff a little =
guidance about the subject, maybe one or more of the 800 "voices" out =
there (that would be 1600 ears, as well as 1600 eyes, except for those =
hearing or sight impaired, but I digress . . .) never heard or just =
heard a little about 3-D (Farley) or triple screen (Elder) investing and =
would like a clue as to what it is and what it means.
A mention of a stock always solicits an opinion, but as a =
stock-generating medium I think it's very flawed. First of all there's =
the pump & dump worry (poster X buys ABC stock and then puts out bullish =
"analysis" throughout the cyberworld), 2nd of all, if you didn't =
generate the idea for the stock and make the purchase decision, then for =
damn sure you won't know when or how to get out of it.
So, the main function of the thread is to be educational, to exchange =
ideas (and humor!), keep it light and informative and not pedantic or =
dreary or oppressive. I was a little sorry to see Mark Crisp (was that =
his name) driven from the thread, although I recognized that he shared =
the blame. In any event, I think you need a little fresh air here =
(that's what Gene called me) and a little iconoclastic skepticism, even =
about Milscan and His Nibs, WON.
DMC
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, August 12, 2003 9:00 AM
Subject: RE: [CANSLIM] elder and triple screens
Hi 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.=20
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.=20
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 -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
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! =20
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 -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
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
=20
DMC,
=20
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
=20
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.
=20
Thanks,
Jeff H.
=20
--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
=20
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.
=20
-----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,
=20
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.
=20
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.
=20
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? =20
=20
Jeff H.
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<DIV><FONT face=3DArial size=3D2>Katherine,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I always try to ask fair =
questions. Sorry to=20
hear about Tom, before my time unfortunately.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I agree a detailed discussion of =
Elder's triple=20
screen technique (although it's just 8 short pages in his book) is not =
something=20
people want to get bogged down in, but I am curious what the thread is =
willing=20
to get bogged down in. For example, we had 10 or 11 posts this =
morning on=20
streaming quotes (un-citable in my New Testament, er, HTMMIS). I =
would=20
think a few notes on multi-time frame analysis of charts could be quite=20
valuable, but that's just me. I didn't mind giving Jeff a little =
guidance=20
about the subject, maybe one or more of the 800 "voices" out there (that =
would=20
be 1600 ears, as well as 1600 eyes, except for those hearing or sight =
impaired,=20
but I digress . . .) never heard or just heard a little about 3-D =
(Farley) or=20
triple screen (Elder) investing and would like a clue as to what it is =
and what=20
it means.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>A mention of a stock always solicits an =
opinion,=20
but as a stock-generating medium I think it's very flawed. First =
of all=20
there's the pump & dump worry (poster X buys ABC stock and then puts =
out=20
bullish "analysis" throughout the cyberworld), 2nd of all, if you didn't =
generate the idea for the stock and make the purchase decision, then for =
damn=20
sure you won't know when or how to get out of it.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>So, the main function of the thread is =
to be=20
educational, to exchange ideas (and humor!), keep it light and =
informative and=20
not pedantic or dreary or oppressive. I was a little sorry to see =
Mark=20
Crisp (was that his name) driven from the thread, although I recognized =
that he=20
shared the blame. In any event, I think you need a little fresh =
air here=20
(that's what Gene called me) and a little iconoclastic skepticism, even =
about=20
Milscan and His Nibs, WON.</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>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, August 12, 2003 =
9:00=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=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.=20
We 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=20
always welcome, but we just need to be sure that we don't get too far =
afield.=20
A singular focused topic, CANSLIM investing, has allowed us to =
stay an=20
active and civil list for over 10 years. People know they can =
come here=20
and talk CANSLIM. CANSLIM has many aspects, the methodology itself, =
money=20
management, trading psychology, buy rules, sell rules, reading charts, =
interpreting fundamentals, reading the Market direction,=20
software/tools/services in support of the methodology/trading and =
more,=20
including "advanced" topics such as shorting, reading trend lines,=20
etc. Those topics alone can keep us busy for a lifetime. =
</SPAN></DIV>
<DIV><SPAN class=3D343392915-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343392915-12082003>Something like Elder triple=20
screens is just too far off track. </SPAN><SPAN=20
class=3D343392915-12082003>There are thousands of lists devoted to =
more general=20
aspects of trading, to other investment styles, trading time frames, =
etc. The=20
main idea is to just move those kinds of discussions to their =
approriate=20
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=20
AM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> Re: =
[CANSLIM]=20
elder and triple 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=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 7:39=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=3D843592114-12082003>DMC,</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>Here we respectfully =
recognize=20
WON as the person who put us on this specific investing track. He =
is one=20
of many of our teachers. Respect and idolatry are very=20
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=20
and resistence, etc. They struggle with understanding the =
difference=20
between an EPS rank and EPS quarter over quarter. They struggle =
with=20
understanding the difference between an RSLine and and RSRank. =
They=20
struggle with understanding how to go about finding stocks for =
their=20
watchlist using CANSLIM parameters. As all of us were beginners at =
one=20
time, the beauty of a list like this is that it provides a safe=20
environmnent where one can come and ask questions and those who've =
been=20
there can help. I wish the list had been here when I was a =
beginning=20
CANSLIMer. It would have saved me a boatload of mistakes (and=20
tuition).</SPAN></DIV>
<DIV><SPAN class=3D843592114-12082003></SPAN> </DIV>
<DIV><SPAN class=3D843592114-12082003>Others are not new to =
CANSLIM, they=20
have the basics under control, but they still struggle with sell =
rules.=20
They might be struggling with determining which are the key =
elements=20
of mining for stocks, which order of importance to place on =
them,=20
etc. They have built a personal knowledgebase built on years and =
years of=20
trading in the CANSLIM style and know where minefields and =
pitfalls tend=20
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=20
to whether the underlying assumptions are still valid. They share =
their=20
experiences with trading this particular methodology. And without =
a doubt=20
they read and study each and every day. They may start with 20 =
pages in=20
HTMMIS, but their libraries are filled with books on market =
cycles,=20
technical analysis, value investing, growth investing, mechanical=20
systems, market history, 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:=20
[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=20
the 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=20
read charts, etc., what kinds of time-frames to look at, etc., I =
think=20
that's what makes a good investor no matter what the =
approach. It=20
is an absolutely vital part of making a keeping profits. =
In this=20
approach, where you basically sit down with a scanning program =
that can=20
spit out 10-12 names per day, it is vital to develop one's own=20
discipline and chart reading ability. Also, it's key to =
understand=20
Gann, Fibonacci, Elliot, etc. if only to keep slick talk and =
slick=20
reasoning from an extraneous source from pushing you into a =
speculative=20
position with little 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=20
one who goes by His Initials, His Nibs, WON. I hope all =
the true=20
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=20
question, as a general matter, it is always best to look across =
time=20
frames for confirmation that what you're looking at is what =
you're=20
looking at. If the micro trend (hourly) is good and the =
daily=20
looks great, don't forget to check the weekly before you =
commit. =20
That is the gist (and the takeaway) of Elder, at least to =
me. The=20
most comprehensive treatment of triple screening technique (btw, =
you can=20
get free triple screens on one page by using Stockcharts' =
gallery views)=20
is Farley's "Master Swing Trader." Not a recommendation =
quite yet=20
but if you 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=20
href=3D"mailto:kmalm@earthlink.net">Katherine 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=20
6:22 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=20
Wave 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,=20
are getting what they expect when they come here. I wouldn't =
go to a 5=20
star French restaurant for a fast food burger. I wouldn't =
expect to=20
come to a CANSLIM list for broad trading =
discussions.</SPAN></DIV>
<DIV><SPAN class=3D343271113-12082003></SPAN> </DIV>
<DIV><SPAN class=3D343271113-12082003>Focus, simplicity, =
disclipline and=20
a deep knowledge of the trading methodology are the=20
hallmarks of Master Traders. Our purpose as members of this =
list is to=20
develop that 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>=20
[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=20
for the book recommendations!<SPAN style=3D"mso-spacerun: =
yes"> =20
</SPAN>I just read <U>Trading <SPAN class=3DGramE>For</SPAN> =
a=20
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=20
you=92re 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=20
technical analysis before, and if you have, did you find =
that one of=20
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=20
also thinking of adjusting his recommended stop losses to =
compensate=20
for 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=20
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> </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=20
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 Month=3D"8" Day=3D"11" =
Year=3D"2003"><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 Hour=3D"8" Minute=3D"5"><FONT =
face=3DTahoma=20
size=3D2><SPAN 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=20
is quite correct about using the A/D to help identify stocks =
to=20
consider and possibly add to one's portfolio. I rely =
on=20
setting up an alert and/or stop loss point using a trailing =
stop to=20
protect my position profits. Then, if we get stopped =
out of a=20
position, we consider re-buying the position when the stock =
regains=20
the stop loss point if the basic fundamentals and other =
technical=20
aspects remain 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=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>Katherine=20
Malm<BR><B><SPAN style=3D"FONT-WEIGHT: =
bold">Sent:</SPAN></B>=20
</SPAN></FONT><st1:date Month=3D"8" Day=3D"11" =
Year=3D"2003"><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 Hour=3D"7" Minute=3D"43"><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=20
random 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=20
position (limiting buys to A, B or C) but it's a lousy =
indicator=20
of tops. I remember in the March of 2000 that all =
the top=20
stocks still had an "A" rating long after they'd crashed =
off their=20
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=20
action in a 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=20
IBD says they don't see it as a lagging indicator and that =
it is=20
one of their "fastest." Faster? Yes, faster than RS (52 =
weeks) or=20
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=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 =
Henderson<BR><B><SPAN style=3D"FONT-WEIGHT: =
bold">Sent:</SPAN></B>=20
</SPAN></FONT><st1:date Month=3D"8" Day=3D"11" =
Year=3D"2003"><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 Hour=3D"6" Minute=3D"27"><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=20
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></BLOCKQUOTE></BOD=
Y></HTML>
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