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1997-05-01
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From: canslim-owner@xmission.com (canslim Digest)
To: canslim-digest@xmission.com
Subject: canslim Digest V1 #161
Reply-To: canslim@xmission.com
Sender: canslim-owner@xmission.com
Errors-To: canslim-owner@xmission.com
Precedence:
canslim Digest Friday, May 2 1997 Volume 01 : Number 161
In this issue:
[CANSLIM] FGAS
Re: [CANSLIM] Surface! Surface! Surface!
[CANSLIM] old list (was: re: Surface!)
Re: [CANSLIM] Economic Reports
Re: [CANSLIM] When to sell?
[CANSLIM] Late posting
Fw: [CANSLIM] Economic Reports
[CANSLIM] Back in Heaven
[CANSLIM] Earnings Surprises
Re: [CANSLIM] When to sell?
[CANSLIM] JBIL - 10:30 am CST
[CANSLIM] RHBC & IBC
[CANSLIM] Is it time to buy breakouts yet?
Re: [CANSLIM] Is it time to buy breakouts yet?
Re: [CANSLIM] JBIL - 10:30 am CST
Re: [CANSLIM] Is it time to buy breakouts yet?
[CANSLIM] Good numbers on ORBKF
Re: [CANSLIM] Is it time to buy breakouts yet?
Re: [CANSLIM] good old arch (was re: pix)
RE: [CANSLIM] good old arch (was re: pix)
Re: [CANSLIM] Good numbers on ORBKF
Re: [CANSLIM] Is it time to buy breakouts yet?
Re: [CANSLIM] Is it time to buy breakouts yet?
Re: [CANSLIM] Is it time to buy breakouts yet?
[CANSLIM] Storage stocks
Re: [CANSLIM] Is it time to buy breakouts yet?
Re: [CANSLIM] Is it time to buy breakouts yet?
See the end of the digest for information on subscribing to the canslim
or canslim-digest mailing lists and on how to retrieve back issues.
----------------------------------------------------------------------
Date: Thu, 1 May 1997 19:53:13 -0800
From: pwahl@postoffice.worldnet.att.net
Subject: [CANSLIM] FGAS
Here is one I just discovered. The industry is foreign to me, so
maybe someone has some words of wisdom about the company.
Forcenergy Gas Exploration (FGAS)
C EPS = 74, kind of low, but last four quarters show accelerating
earnings, .10, .13, .23 and .47 for quarter ending Mar. 31.
A Fair, coming off a loss in 1995, 1996 = .57, 1997 Est. = $1.25.
N unknown
S 22.4 million
L RS = 94, group RS is 50
I Funds own 18%
M Improving. We'll see what the employment numbers say tomorrow.
------------------------------
Date: Thu, 1 May 1997 19:53:13 -0800
From: pwahl@postoffice.worldnet.att.net
Subject: Re: [CANSLIM] Surface! Surface! Surface!
> From: investor@yvv.com (Trader Jack)
> Aye mate, 'tis me. How are you doing? :)
Not too badly, still doing this investing stuff for a living. The
going has been a little rocky the last few months. Good to see you
resurface here on this list. The last one we were on was
appropriated by Lyndel Liming, who then started charging for it.
You have resurfaced just in time for me to tell you that Marbury wuz
robbed by Iverson (the ball hog) in ROY voting. (I seem to recall
you are a Sixer fan.)
- -----------------------------------------
Sorry about the reminiscing, fellow Canslimers. I used to have the
good luck to read Jack's notes on RIME in the prehistoric
(pre-internet) days of a few years ago. We are lucky to have him on
the list, he writes good incisive commentary that is very well worth
reading.
Patrick Wahl
------------------------------
Date: Thu, 01 May 1997 23:48:16 -0400
From: Michael A Langston <langston@cs.utk.edu>
Subject: [CANSLIM] old list (was: re: Surface!)
> The last one we were on was appropriated by Lyndel Liming,
> who then started charging for it.
yea, i was on that list too -- what a piece of shi...fting sand
swell old lyndel wanted $14 from everyone, took the dough then
promptly closed up shop -- he'd better hope i don't catch him
in a dark alley some night
btw, the most active of us still talk, and some are over on
delphi now
mike
------------------------------
Date: Thu, 1 May 1997 22:13:30 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Economic Reports
Thanks for the info, TJ, nice to have another sailor onboard, even
if you did desert Florida. Interesting theory on time-compression,
had some similiar thoughts myself but no time to explore. Certainly
the Fed Reserve time frame has expanded as they got the monetary
policy under control. I can recall not that many years ago when
they looked forward no more than two to three months. Then it
stretched (and fooled most of the investment community it was so
subtle) gradually out to about six months. Currently they are
modeling out to around nine months. Don't see why access to so much
data on the net wouldn't achieve the same effect in reverse.
- ----------
> From: Trader Jack <investor@yvv.com>
> To: canslim@mail.xmission.com
> Subject: Re: [CANSLIM] Economic Reports
> Date: Thursday, May 01, 1997 10:55 AM
>
> >I realize my switch is major from such a prior (most of which
you
> >probably missed) bearish, cautious stance.
>
> I find no fault in anything you are saying. I agree with your
economic analysis
> and what it might portend for the future. I will be in even
greater agreement
> if Friday's employment report comes in as expected. Just gonna
remain
>
> Like you, I got good vibes on the day the Nasdaq bounced off 1194
intraday and closed
> above 1200. That was a significant technical event, especially
given the previously
> successful tests of the 1200 area. Unlike Mr. O'Neil's comments,
I think we've put in enough
> time in this correction (4 months) such that any ensuing rally
can be emminently tradable
> from the long side. With the time-compression of market action
brought about by the pace
> of technology (rapid transfer of information), we may be seeing a
redefinition of the
> terms "bear market" and "correction". What used to last 6 to 9
months may only last 4 to 6
>
> >Long as you're here now, how about an intro and some background?
>
> Sho 'nuff. I'm an ex-nuke submariner who left active duty in the
late 1980s to
> follow my heart. I had a stash of cash saved up, so I decided to
learn about
> investing. I'm completely self-taught through reading,
information exchanges
>
> I traded full-time for roughly 5 years for my own account and
also picked up a
> few unsolicited private accounts along the way. After falling
prey to a woman and
> surrendering my bachelorhood, I moved up from Florida (to the DC
area)
------------------------------
Date: Thu, 1 May 1997 22:20:24 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] When to sell?
I keep hearing O'Neill blamed (credited??) with a sell rule when
you are up 20%, but I never heard that till I joined this group,
nor have I found it in his book, nor was I ever taught that when I
was getting briefed/trained by his associates. As long as a stock
is working, and maintaining its CANSLIM characteristics it is not a
candidate to sell unless: you are fully invested; it is the worst
one in your portfolio; and you have a candidate to add that is even
better. Sell the losers, keep the winners, that's how I understand
WON.
tom w
- ----------
> From: tbanerje@siac.com
> To: canslim@xmission.com
> Subject: [CANSLIM] When to sell?
> Date: Thursday, May 01, 1997 10:23 AM
>
> --
> Tapas Banerjee
> email: tbanerje@siac.com
>
> I see that there are couple of valuable discussion on picking a
> a good stock, specially canslim stock e.g above RS95, EPS 95,
> a/d B, good chart pattern...
>
> What you do for selling when the stock price moves up,
> specially in this market?. Do you move the protective stops as
the
> price of a stock moves? or you have some sell price target?
>
> I sold 'CA'(off course it is not a canslim stock) day before
> yesterday as per O'Neil's guidelines - above 20% price advance
on
> from support( was also my purchase price) My idea was also to
generate
> some cash in this market. But yesterday the price was up again
about 2+ points.
> Do you recommend doing some TA(canslim type?) for this type of
selling.
>
> Thanks,
> - Tapas
>
------------------------------
Date: Fri, 2 May 1997 06:17:58 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Late posting
Sorry about the late posting of last night's messages. Apparently
my ISP mail server crashed after I picked up my mail, and I
couldn't send or receive. Hopefully, I didn't lose anything in the
process. Didn't get home till 10PM, had to finish up several
projects (including writing the rules for internet use by my
brokers, hence my new signature block). Fortunately, one of the
responses I got was from techsupport at DG letting me know why I
couldn't get stock charts (boy was that frustrated, I'm addicted!).
I just needed to download and install the latest software (BTW, I
note that they now show the date of the newest version so you can
tell if you need to update, lesson learned!).
So, since I couldn't send my email, and needed to look at charts,
started the download. Not my night, got hung up during the install
portion and didn't complete. Finally said goodnight and shut
everything down.
But that's ok, hadn't intended to open any new positions today as I
expect some profit taking and consolidation. Employment report due
out this AM, and traders don't like to carry positions over the
weekend, esp after a big week.
Was encouraged about the "quality" of this mkt last night, reviewed
the list of OTC stocks hitting new highs and recognized many as not
only good CANSLIM candidates but ones we have talked about here
including MSFT, AMAT, DELL, CPWR, BAANF and WSBC.
good luck, TGIF, and have a good weekend.
tom w
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be intrepreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
------------------------------
Date: Fri, 2 May 1997 06:24:03 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Fw: [CANSLIM] Economic Reports
Am reposting this one as it looks like it got lost in my ISP's
crash last night.
tom w
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be intrepreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
- ----------
> From: Tom Worley <stkguru@netside.net>
> To: canslim@mail.xmission.com
> Subject: Re: [CANSLIM] Economic Reports
> Date: Thursday, May 01, 1997 10:13 PM
>
> Thanks for the info, TJ, nice to have another sailor onboard,
even
> if you did desert Florida. Interesting theory on
time-compression,
> had some similiar thoughts myself but no time to explore.
Certainly
> the Fed Reserve time frame has expanded as they got the monetary
> policy under control. I can recall not that many years ago when
> they looked forward no more than two to three months. Then it
> stretched (and fooled most of the investment community it was so
> subtle) gradually out to about six months. Currently they are
> modeling out to around nine months. Don't see why access to so
much
> data on the net wouldn't achieve the same effect in reverse.
>
> tom w
>
> ----------
> > From: Trader Jack <investor@yvv.com>
> > To: canslim@mail.xmission.com
> > Subject: Re: [CANSLIM] Economic Reports
> > Date: Thursday, May 01, 1997 10:55 AM
> >
> > >I realize my switch is major from such a prior (most of which
> you
> > >probably missed) bearish, cautious stance.
> >
> > I find no fault in anything you are saying. I agree with your
> economic analysis
> > and what it might portend for the future. I will be in even
> greater agreement
> > if Friday's employment report comes in as expected. Just gonna
> remain
> >
> > Like you, I got good vibes on the day the Nasdaq bounced off
1194
> intraday and closed
> > above 1200. That was a significant technical event, especially
> given the previously
> > successful tests of the 1200 area. Unlike Mr. O'Neil's
comments,
> I think we've put in enough
> > time in this correction (4 months) such that any ensuing rally
> can be emminently tradable
> > from the long side. With the time-compression of market action
> brought about by the pace
> > of technology (rapid transfer of information), we may be seeing
a
> redefinition of the
> > terms "bear market" and "correction". What used to last 6 to 9
> months may only last 4 to 6
> >
> > >Long as you're here now, how about an intro and some
background?
> >
> > Sho 'nuff. I'm an ex-nuke submariner who left active duty in
the
> late 1980s to
> > follow my heart. I had a stash of cash saved up, so I decided
to
> learn about
> > investing. I'm completely self-taught through reading,
> information exchanges
> >
> > I traded full-time for roughly 5 years for my own account and
> also picked up a
> > few unsolicited private accounts along the way. After falling
> prey to a woman and
> > surrendering my bachelorhood, I moved up from Florida (to the
DC
> area)
>
------------------------------
Date: Fri, 2 May 1997 06:56:55 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Back in Heaven
Back on line with DG, looks like I was just too incompetent (hasty,
impatient, etc and probably just too tired to be doing it that late
at night while fixing dinner at the same time). Worked fine this AM
and went very quickly, faster than I expected for the update.
Looked at a couple charts mentioned here: from Peter C - CIBR does
look good, on other hand watch out for TSK. It is showing very
little growth, thinly traded (avg vol 44,500), and most sig is
up/down vol at 0.5. Even tho accum/dist is still a C, u/d is very
neg.
From Brenda - QNTM - with the earnings reported yesterday morning,
surprised it didn't move further, but suspect just starting its run
(analogy may be CPQ). Vol was more than double daily avg. SFDS - I
think you did right to get out, looks like rolling over, and I
suspect these industry groups will not be producing too many good
charts for next several months as techs and growth stocks in
general come back into favor.
While I was at it, looked at the up/down ratio of several I
consider to be current and important leaders including DELL, MSFT,
CPQ and INTC. Was surprised to see the up/down ratios still so low,
however don't know when they were last updated. Will check again
this weekend.
Gotta get ready for work, and still got some work to do on the
computer.
tom w
Any statements or opinions are strictly my own and not that of my
employer. My comments should not be intrepreted as a recommendation
of any kind. I am a licensed (inactive) broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
------------------------------
Date: Fri, 2 May 1997 08:02:17 -0500
From: "Brenda" <bks@lcc.net>
Subject: [CANSLIM] Earnings Surprises
Hi Group,
Got some big numbers on the earnings surprises page this morning. 8am
CST here. Check it out at:
http://www.ultra.zacks.com/cgi.bin/AW/EPS/Extreme
Have a good day.
Tom- how about that interest rate raise. I've been the one saying no
but if the market doesn't quit it's irrational exuberance <g>, he may raise
it 1.5 bp - Have a good day all
James
------------------------------
Date: Fri, 2 May 1997 07:26:19 -0600
From: "Jay Cliburn" <jay@hobo.idec.sdl.usu.edu>
Subject: Re: [CANSLIM] When to sell?
> I keep hearing O'Neill blamed (credited??) with a sell rule when
> you are up 20%, but I never heard that till I joined this group,
> nor have I found it in his book, nor was I ever taught that when I
> was getting briefed/trained by his associates.
>From _How to Make Money in Stocks_, 2nd ed., p101:
"Therefore, I created a rule that I would buy exactly at the pivot
point, not pyramid more than 5% past the buy point and would sell
each stock when it was up 20% from the breakout point."
...
"[However] if the stock was so strong that it vaulted 20% in less
than eight weeks, the stock had to be held at least eight weeks."
...
"In summary, here was the revised profit-and-loss plan: Take 20%
profits when you have them (except with the most powerful of all
stocks) and cut losses at 8%"
Hope this helps.
- --
Jay Cliburn | Space Dynamics Laboratory
Computational Sciences Division | 1747 North Research Park Way
Jay.Cliburn@sdl.usu.edu | Logan, Utah, USA 84341
(801) 755-4317 (voice) | (801) 755-4366 (fax)
------------------------------
Date: Fri, 2 May 1997 10:38:15 -0500
From: "Brenda" <bks@lcc.net>
Subject: [CANSLIM] JBIL - 10:30 am CST
Anybody who has been waiting on JBIL to break, it is in new high ground and
volume right now already it's daily average. Good luck!
James
------------------------------
Date: Fri, 2 May 1997 11:06:56 -0500
From: "Brenda" <bks@lcc.net>
Subject: [CANSLIM] RHBC & IBC
This stock mentioned in S & P 500 Best Stocks To Have For Next 6-12 Months.
In last two days looks like it is headed for PLUTO.
IBC mentioned in both S&P and also Zweigs Best. IBC ONLY stock mentioned in
both. Just breaking into new high ground once again.
New one just came across my scan - MOPO (How do you pronounce that?)
Haven't gotten numbers but wished I had owned it at the open.
Use the info if you can -
James
------------------------------
Date: Fri, 02 May 1997 12:52:38 -0400
From: Hemant Rotithor <rotithor@zko.dec.com>
Subject: [CANSLIM] Is it time to buy breakouts yet?
Brenda wrote:
>
> This stock mentioned in S & P 500 Best Stocks To Have For Next 6-12 Months.
> In last two days looks like it is headed for PLUTO.
> IBC mentioned in both S&P and also Zweigs Best. IBC ONLY stock mentioned in
> both. Just breaking into new high ground once again.
> New one just came across my scan - MOPO (How do you pronounce that?)
> Haven't gotten numbers but wished I had owned it at the open.
> Use the info if you can -
> James
Thanks to all the folks posting breakouts.
It does look like the money has started flowing into small/midcaps.
Would it make sense to see sustained breakouts with these initial picks
or would it mae sense to jump in? Hmmm....
Mike (Langston) have you started buying on breakouts yet?
Do we have a followthrough Craig?
How does the upside/downside risk weigh at this point?
Thanks
- --
Disclaimer: Opinions expressed in this document are those of the author.
Digital Equipment Corp., 110 Spit Brook Rd, ZKO2-3/N30, Nashua, NH 03062
------------------------------
Date: Fri, 02 May 1997 13:31:18 -0400
From: Craig Griffin <cagriffin@mindspring.com>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Hemant,
At 12:52 PM 5/2/97 -0400, you wrote:
>Thanks to all the folks posting breakouts.
>It does look like the money has started flowing into small/midcaps.
>Would it make sense to see sustained breakouts with these initial picks
>or would it mae sense to jump in? Hmmm....
>Mike (Langston) have you started buying on breakouts yet?
>Do we have a followthrough Craig?
>How does the upside/downside risk weigh at this point?
>Thanks
I have been buying for 2 weeks now. Unfortunately I have been buying small
positions and have 7 stocks already. Wish I had been buying normally
because I am ahead on 6 out of the 7 positions at this point. On 2 of the 7
positions I have already made 2nd purchases (pyramid buys) and am ahead on
those as well. The undercurrents of the market based on how the action
"feels" on the breakouts seems right. Market is due a pullback at this
time, but it may continue strong for a few more days in order to leave a few
more people behind. Just when you are sure it is safe to go back in the
water is when it tends to correct.
On the other hand, Mr. O'Neil just had a 3 part article in IBD, which I am
ashamed to say I have not read carefully, but my sense is that he thinks
this may be a bear market rally. So I still feel a bit tenative... which is
probably a good sign (bull markets climb walls of worry).
Bottom line, yes we did have 2 follow throughs and the market looks ok now.
But could get sideswiped at any time. Start small, don't get excited. Try
to make sure each situation is working before moving on to the next one.
Try to catch them within 2-5% of the top of the base. Be wary. Don't rush.
If this is the resumption of the bull, there will be lots of opportunities
down the road.
Good luck,
Craig
------------------------------
Date: Fri, 02 May 1997 13:31:58 -0400
From: Craig Griffin <cagriffin@mindspring.com>
Subject: Re: [CANSLIM] JBIL - 10:30 am CST
James, Thanks for the heads up! Craig
At 10:38 AM 5/2/97 -0500, you wrote:
>Anybody who has been waiting on JBIL to break, it is in new high ground and
>volume right now already it's daily average. Good luck!
>James
>
>
------------------------------
Date: Fri, 02 May 1997 13:46:37 -0400
From: Hemant Rotithor <rotithor@zko.dec.com>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Craig Griffin wrote:
>
> Hemant,
>
> At 12:52 PM 5/2/97 -0400, you wrote:
> >Thanks to all the folks posting breakouts.
> >It does look like the money has started flowing into small/midcaps.
> >Would it make sense to see sustained breakouts with these initial picks
> >or would it mae sense to jump in? Hmmm....
> >Mike (Langston) have you started buying on breakouts yet?
> >Do we have a followthrough Craig?
> >How does the upside/downside risk weigh at this point?
> >Thanks
>
> I have been buying for 2 weeks now. Unfortunately I have been buying small
> positions and have 7 stocks already. Wish I had been buying normally
> because I am ahead on 6 out of the 7 positions at this point. On 2 of the 7
> positions I have already made 2nd purchases (pyramid buys) and am ahead on
> those as well. The undercurrents of the market based on how the action
> "feels" on the breakouts seems right. Market is due a pullback at this
> time, but it may continue strong for a few more days in order to leave a few
> more people behind. Just when you are sure it is safe to go back in the
> water is when it tends to correct.
>
> On the other hand, Mr. O'Neil just had a 3 part article in IBD, which I am
> ashamed to say I have not read carefully, but my sense is that he thinks
> this may be a bear market rally. So I still feel a bit tenative... which is
> probably a good sign (bull markets climb walls of worry).
>
> Bottom line, yes we did have 2 follow throughs and the market looks ok now.
> But could get sideswiped at any time. Start small, don't get excited. Try
> to make sure each situation is working before moving on to the next one.
> Try to catch them within 2-5% of the top of the base. Be wary. Don't rush.
> If this is the resumption of the bull, there will be lots of opportunities
> down the road.
>
> Good luck,
> Craig
Craig
Thanks for your thoughts.
- --
Disclaimer: Opinions expressed in this document are those of the author.
Digital Equipment Corp., 110 Spit Brook Rd, ZKO2-3/N30, Nashua, NH 03062
------------------------------
Date: Fri, 02 May 1997 11:01:45 -0700
From: "James B. Andrews" <jba@primenet.com>
Subject: [CANSLIM] Good numbers on ORBKF
Any comments on ORBKF???? check the DG's...
Thx
------------------------------
Date: Fri, 2 May 1997 14:05:39 -0400 (EDT)
From: Deepak Kapur <kapur@cs.albany.edu>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Craig,
How about sharing with us what you have been buying, especially
those you have been pyramiding into. I have always
read your posts with admiration.
Thanks and regards,
Deepak
------------------------------
Date: Fri, 02 May 1997 14:53:03 -0400 (EDT)
From: OWENTIME@delphi.com
Subject: Re: [CANSLIM] good old arch (was re: pix)
Didn't see "good old arch" but could anyone clarify oil drilling sector
that is well regarded by many analysts right now. Could anyone explain
if the oil drilling sector might indicate a bear market?
While the
gun running in various unsettled sattelites around the Balkans continues;
tensions are uncertain in the MidEast; and Africa and the Caribbean has
its agenda to sort out; could these create grey clouds on the bull market
and augment any Bearish attitudes in oil, mining, and defense? I'm
interested in your opinions as to whether the sector shifts will be
more defined politically this year than letting the market find "same old
footing" as last year. Opinions?
One previous CANSLIM candidate I'm watching is Ultra Tek Stepper; UTEK
which may be forming a base around 17 1/2. May have a nice uptrend
coming.
Another is FORE; will this one be a dead cat bounce or is it worth a
good consideration?
Thanks
Warren
BTW I saw one chartist claim that indeed the NASDAQ has had its
lows well tested and is "ok" as the saying goes, for being relatively
long until the last week in June.
Remember I am a "novice" so check with your local 400 lb. psychic
before proceeding with any stock transactions.
------------------------------
Date: Fri, 2 May 1997 12:12:23 -0700
From: "Nicholas P. Callahan" <npcallahan@worldnet.att.net>
Subject: RE: [CANSLIM] good old arch (was re: pix)
- ------ =_NextPart_000_01BC56F2.3A73C030
Content-Type: text/plain; charset="us-ascii"
Content-Transfer-Encoding: 7bit
Overhead supply on UTEK through $47.00, Lousy rel str
- -----Original Message-----
From: OWENTIME@delphi.com [SMTP:OWENTIME@delphi.com]
Sent: Friday, May 02, 1997 11:53 AM
To: canslim@mail.xmission.com
Subject: Re: [CANSLIM] good old arch (was re: pix)
Didn't see "good old arch" but could anyone clarify oil drilling sector
that is well regarded by many analysts right now. Could anyone explain
if the oil drilling sector might indicate a bear market?
While the
gun running in various unsettled sattelites around the Balkans continues;
tensions are uncertain in the MidEast; and Africa and the Caribbean has
its agenda to sort out; could these create grey clouds on the bull market
and augment any Bearish attitudes in oil, mining, and defense? I'm
interested in your opinions as to whether the sector shifts will be
more defined politically this year than letting the market find "same old
footing" as last year. Opinions?
One previous CANSLIM candidate I'm watching is Ultra Tek Stepper; UTEK
which may be forming a base around 17 1/2. May have a nice uptrend
coming.
Another is FORE; will this one be a dead cat bounce or is it worth a
good consideration?
Thanks
Warren
BTW I saw one chartist claim that indeed the NASDAQ has had its
lows well tested and is "ok" as the saying goes, for being relatively
long until the last week in June.
Remember I am a "novice" so check with your local 400 lb. psychic
before proceeding with any stock transactions.
- ------ =_NextPart_000_01BC56F2.3A73C030
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- ------ =_NextPart_000_01BC56F2.3A73C030--
------------------------------
Date: Fri, 02 May 1997 15:19:38 -0400
From: Hemant Rotithor <rotithor@zko.dec.com>
Subject: Re: [CANSLIM] Good numbers on ORBKF
James B. Andrews wrote:
>
>
> Any comments on ORBKF???? check the DG's...
>
> Thx
The chart looks good, a little loose handle than I would like to see
(15% down from base in shakeout), seems to have broken out
- --
Disclaimer: Opinions expressed in this document are those of the author.
Digital Equipment Corp., 110 Spit Brook Rd, ZKO2-3/N30, Nashua, NH 03062
------------------------------
Date: Fri, 02 May 1997 15:27:01 -0400
From: Craig Griffin <cagriffin@mindspring.com>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Deepak,
I have made pyramid buys on BAANF and ANN in the past couple of weeks. Both
are now well past their pivot. O'Neil recommends making initial and pyramid
buys within 5% of the pivot. I sometimes stretch that to 10%. I was within
10% on my second purchase on both of these (remember that the pyramid buys
are smaller than the initial buy, forming a pyramid). BAANF's pivot was
about 48 1/2, ANN's pivot was about 22 3/8. BAANF has given me 1 chance to
pyramid. ANN has given me 2 chances to pyramid, but I missed the second one.
With ANN, one might buy on the breakout at 23 1/8, and then buy on the
bounce after the pullback at 23 1/2. A third chance to buy would have been
today after the pullback to 23 1/2 and the strong recovery on volume to
drive through 24 at say 24 1/4. If the first buy was 175 shares, then the
second buy might be 80 more shares, and the third and final buy might be 45
shares.
Regards,
Craig
------------------------------
Date: Fri, 2 May 1997 15:42:19 -0400 (EDT)
From: Deepak Kapur <kapur@cs.albany.edu>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Craig,
Thanks, as usual, for your excellent explanations.
Deepak
------------------------------
Date: Fri, 02 May 1997 15:45:27 -0400
From: Craig Griffin <cagriffin@mindspring.com>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Deepak,
Meant to give you some other ideas of good formations that could have been
bought in the last two weeks. I may or may not have bought any or all of
these, but it doesn't matter, they all could have been bought. And ALL of
them were mentioned as a "heads up" by posters on this list in time to buy
them on the DAY of their breakout! And they are all acting ok ...
MSFT, INVX, CIBR, JBIL (today)
Take a look at the charts and the breakout day and the pivots. Our CANSLIM
List is to be congratulated. We have some real eagle eyes on our team. Two
of the stocks above hovered in buying range for two days (so you could have
bought them the day after the breakout as well). They are MSFT and INVX. I
think all are too late now (more than 5% past the pivot), although not sure,
haven't verified on the charts. Nobody sent a message like "xyz is breaking
out now, buy buy buy" and that is good. No one can make the decision for
someone else. Everyone has to look at the CANSLIM characteristics and make
his/her own decision, but it is nice to get a head's up on a breakout that
somone else considers worth a look, and in progress. From there one can
make one's own decision. There have been lots more than the few mentioned
here and there will be lots more if this trend holds (ie. if this is not
just a rally in a bear market). I am still nervous however ...
Craig
------------------------------
Date: Fri, 02 May 1997 22:06:00 +0200
From: Johan Van Houtven <Johan.VanHoutven@ping.be>
Subject: [CANSLIM] Storage stocks
All of a sudden storage stocks like WDC, SEG and QNTM are back in vogue? :-)
Example: WDC up 6 3/8 for the day.
I'm sitting here besides a man who has loaded up on WDC at +/- 58 a few
days ago. He is laughing his head off.
Arghh.... ;^)
NASDAQ up 34.88 points. What was that about irrational exuberance? 8^)
Johan Van Houtven
CLICK! N.V. / Wilrijk, Belgium
------------------------------
Date: Fri, 02 May 1997 16:03:21 -0400
From: Hemant Rotithor <rotithor@zko.dec.com>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Craig Griffin wrote:
>
> Deepak,
>
> Meant to give you some other ideas of good formations that could have been
> bought in the last two weeks. I may or may not have bought any or all of
> these, but it doesn't matter, they all could have been bought. And ALL of
> them were mentioned as a "heads up" by posters on this list in time to buy
> them on the DAY of their breakout! And they are all acting ok ...
>
> MSFT, INVX, CIBR, JBIL (today)
>
> Take a look at the charts and the breakout day and the pivots. Our CANSLIM
> List is to be congratulated. We have some real eagle eyes on our team. Two
> of the stocks above hovered in buying range for two days (so you could have
> bought them the day after the breakout as well). They are MSFT and INVX. I
> think all are too late now (more than 5% past the pivot), although not sure,
> haven't verified on the charts. Nobody sent a message like "xyz is breaking
> out now, buy buy buy" and that is good. No one can make the decision for
> someone else. Everyone has to look at the CANSLIM characteristics and make
> his/her own decision, but it is nice to get a head's up on a breakout that
> somone else considers worth a look, and in progress. From there one can
> make one's own decision. There have been lots more than the few mentioned
> here and there will be lots more if this trend holds (ie. if this is not
> just a rally in a bear market). I am still nervous however ...
>
> Craig
Thanks for the suggestions.
MSFT and IBM down on a big rally day and all small caps breaking out,
the money
clearly seems to be flowing into small caps.
Also
- --
Disclaimer: Opinions expressed in this document are those of the author.
Digital Equipment Corp., 110 Spit Brook Rd, ZKO2-3/N30, Nashua, NH 03062
------------------------------
Date: Fri, 02 May 1997 16:11:08 -0400
From: Hemant Rotithor <rotithor@zko.dec.com>
Subject: Re: [CANSLIM] Is it time to buy breakouts yet?
Craig Griffin wrote:
>
> Deepak,
>
> Meant to give you some other ideas of good formations that could have been
> bought in the last two weeks. I may or may not have bought any or all of
> these, but it doesn't matter, they all could have been bought. And ALL of
> them were mentioned as a "heads up" by posters on this list in time to buy
> them on the DAY of their breakout! And they are all acting ok ...
>
> MSFT, INVX, CIBR, JBIL (today)
>
> Take a look at the charts and the breakout day and the pivots. Our CANSLIM
> List is to be congratulated. We have some real eagle eyes on our team. Two
> of the stocks above hovered in buying range for two days (so you could have
> bought them the day after the breakout as well). They are MSFT and INVX. I
> think all are too late now (more than 5% past the pivot), although not sure,
> haven't verified on the charts. Nobody sent a message like "xyz is breaking
> out now, buy buy buy" and that is good. No one can make the decision for
> someone else. Everyone has to look at the CANSLIM characteristics and make
> his/her own decision, but it is nice to get a head's up on a breakout that
> somone else considers worth a look, and in progress. From there one can
> make one's own decision. There have been lots more than the few mentioned
> here and there will be lots more if this trend holds (ie. if this is not
> just a rally in a bear market). I am still nervous however ...
>
> Craig
Sorry about the last incomplete mail, my mailer screwe up.
Thanks for the suggestions.
MSFT and IBM down on a big rally day and small/mid caps breaking out,
the money clearly seems to be flowing into small caps.
Also NASDAQ up 34 points on a record volume of 708 M shares, with
adv/decl 2:1 and
139 new high vs 133 new low (key reversal?)
This weekend should keep us busy trying to find good ideas for Monday.
Keep those great suggestions coming.
- --
Disclaimer: Opinions expressed in this document are those of the author.
Digital Equipment Corp., 110 Spit Brook Rd, ZKO2-3/N30, Nashua, NH 03062
------------------------------
End of canslim Digest V1 #161
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