Go to Jeff Salisbury LWGate Home Page.From: Tomas <tomas986@yahoo.com>
Subject: Re: [CANSLIM] elder and triple screens
Date: Tue, 12 Aug 2003 18:44:48 -0700 (PDT)
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Yes, it's always good to get fresh perspective. Sometimes it's good to "stir" things up. tomas - --- DMC197807 <dmc197807@comcast.net> wrote: > 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 ----- > From: Katherine Malm > To: canslim@lists.xmission.com > 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. > > 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 === message truncated === __________________________________ Do you Yahoo!? Yahoo! SiteBuilder - Free, easy-to-use web site design software http://sitebuilder.yahoo.com - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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