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1998-04-04
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From: owner-canslim-digest@lists.xmission.com (canslim-digest)
To: canslim-digest@lists.xmission.com
Subject: canslim-digest V2 #177
Reply-To: canslim
Sender: owner-canslim-digest@lists.xmission.com
Errors-To: owner-canslim-digest@lists.xmission.com
Precedence: bulk
X-No-Archive: yes
canslim-digest Saturday, April 4 1998 Volume 02 : Number 177
In this issue:
[CANSLIM] Re- Tom and Surindra
Re: [CANSLIM] To all my friends on the Internet
Re: [CANSLIM] Tom Worley's true disclaimer
[CANSLIM] Canslim Tom
[CANSLIM] Re: Market Rally
[CANSLIM] CDWI & MINI ?
[CANSLIM] Newbie question?
[CANSLIM] Tom and Me
Re: [CANSLIM] Re: Market Rally
Re: [CANSLIM] Breakout VSTN
Re: [CANSLIM] Re- Tom and Surindra
Re: [CANSLIM] Tom and Me
Re: [CANSLIM] To all my friends on the Internet
Re: [CANSLIM] Canslim Tom
Re: [CANSLIM] Tom Worley's true disclaimer
Re: [CANSLIM] CDWI & MINI ?
Re: [CANSLIM] RWAV, MINI (was Newbie question?)
[CANSLIM] My termination, and the support from this group
[CANSLIM] LGWX
[CANSLIM] non-CANSLIM SOCR
re: [CANSLIM] Breakout VSTN
Re: [CANSLIM] Newbie question?
re: [CANSLIM] Breakout VSTN
Re: [CANSLIM] Re: Market Rally
Re: [CANSLIM] To all my friends on the Internet
----------------------------------------------------------------------
Date: Fri, 3 Apr 1998 18:12:49 -0500
From: Tapas Banerjee <tapas.banerjee@csfb.com>
Subject: [CANSLIM] Re- Tom and Surindra
I'm a silent lurker to this news group for about last three years.=
I learned a lot from the posting of Tom,James,Jeff,Trader Jack,Con=
nie
about investing and CANSLIM methods.
I could not resist myself after TOM withdrawal notice.
I'm really sorry it happened to TOM pray good-luck on future
endeavors. However it was heartening he intend to withdraw from th=
e
group.
I sincerely believe Surindra's remark is an innocent Jo=
ke.
In his past postings I noticed that he often exchanged joke with T=
om.
In fact I really enjoyed his joke, prior to seeing Tom's bad news(=
I
subscribe digest only ).
I hope Tom'll be with us, may be discontinue his
disclaimer,- as I recollect disclaimer was not there in his earlie=
r
posting(3 years ago), may be his ex-employer compelled him to add
those. It'll also save lots of internet bandwidth( No offense- It'=
s
also a humor).
- Tapas
=
- -
------------------------------
Date: Fri, 3 Apr 1998 15:27:50 -0800 (PST)
From: Anindo Majumdar <amajumda@cisco.com>
Subject: Re: [CANSLIM] To all my friends on the Internet
Tom
Good luck in your future endevours. I have learned from your postings.
Anindo
- -
------------------------------
Date: Fri, 3 Apr 1998 19:32:28 -0500
From: Bill <wgs@earthlink.net>
Subject: Re: [CANSLIM] Tom Worley's true disclaimer
Tom, I don't think you have to be paranoid about disclosing your
affiliation. I don't know a single soul that would take an internet
messages as gospel truth. For that matter, I don't know many that will take
action on what they see on TV, read in newspapers or magazines either. If
you ever get in trouble with the law, I volunteer to help you defend
yourself. In the meantime, I suggest that you drop your signature line and
act just like any other member of the list. Your incessant disclaimers
draw attention and infer something other than what you are trying to convey.
Bill-->>
- ---------------------------------
At 1:15 PM -0500 4/3/98, Tom Worley wrote:
>My comments are strictly my own opinion, and SHOULD NOT BE INTERPRETED
>AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
>investor. All investors should do their own research prior to any
>investment, especially one learned about on the Internet.
>Tom w
- -
------------------------------
Date: Fri, 03 Apr 1998 17:55:34 -0700
From: Evelyn Fedele <evelyn@ctaz.com>
Subject: [CANSLIM] Canslim Tom
Tom, They say that one door closes and another one always opens
and that it is generally better. Good luck in your future
endeavors. A newbie to the Digest, Evelyn
- -
------------------------------
Date: Fri, 3 Apr 1998 16:56:50 -0800 (PST)
From: dbphoenix <dbphoenix@yahoo.com>
Subject: [CANSLIM] Re: Market Rally
<<db,
you wrote;
. If your stops are hit, they're hit. If they're not,
they're not. Personally, I keep a very tight stop on new buys, but
after that, I just let them do what they're going to do
how do you handle stops on your gainers, so as not to give your
profits =
back?
don't know a thing
joe>>
Depends on how mechanical you want to be, Joe. Or how much you want
to kid yourself into believing you're being mechanical. IMO, every
buy and every sell has to be placed in context--what's happening with
the stock, the group, the market in general, the market on that
particular day (such as options expiration, Fridays, FOMC day, etc.),
the economy, the global situation,and what everybody thinks about all
of it. I don't mean analyzing to a fare-thee-well every single
transaction in light of all this, but rather keeping it all in mind.
An investor can't function in an isolation booth no matter how hard he
tries or how much he'd like to. So I don't try.
A lot of what you do depends on whether you're showing a profit and,
if so, on how much profit you've got. If the stock has tripled since
you bought it, you're more likely to forgive a downdraft of a few
percent than if you'd just bought the thing. It also depends on your
investment horizon. If you're one of these short-term, in-and-out,
grab-the-10-or-20-percent-and-run types, then that's what you do. On
the other hand, if you find that you somehow lucked onto a decent
stock and purely by accident managed to buy it at exactly the right
time and it's up by 30% and somebody just came out with another buy
recommendation and the company just announced a split and it's up 6
points on the day, you might be forgiven for wanting to hold onto it
for just a little while longer.
On the other hand, let's say that you just bought it and it begins to
pull back. In these cases, you sell, and you do it without
hesitation. Why? Because you bought it at the wrong time. It may
have looked like the right time (remember JBIL?) and you may have done
everything exactly like you were supposed to, but it wasn't the right
time. If it had been the right time, it wouldn't have pulled back on
you. So you sell and you watch. Maybe you try again the next day.
Maybe there's some news you need to know about. Maybe Archduke
Ferdinand of Serbia got shot. In any case, you watch and you wait.
Like a spider. Then you try again, if you really want to. And if you
don't really want to, why were you buying it in the first place?
You could, of course, watch and wait while still holding it, but it's
awfully tough to make good decisions when your money is being flushed
down the toilet. Get out, give up the few hundred dollars or
whatever, and see what happens. If you try again and it pulls back
again, either your definition of "buying at the right time" needs to
be reexamined, or there's a dynamic going on here that is sabotaging
you.
There are guideposts you can use. One is the 17d MA. But, again,
this depends on your investment horizon. There are those who'll think
you're crazy to sell before it crosses the 50. Or even the 200. But
unless the two of you have the same philosophy, goals and time frame,
your debate's going nowhere. If you buy off handles or you buy new
highs, it doesn't make a whole lot of sense to use the 200 as your
sell signal. If you buy off bottoms or trendlines, you've got much
more leeway. And, of course, there's always the question of whether
or not you have the luxury of sitting in front of your computer screen
all day.
I wish I could give you a simple answer, but there's a book in this.
If I knew more about you and your goals, I could give a more
intelligent answer.
- ---Db
_________________________________________________________
DO YOU YAHOO!?
Get your free @yahoo.com address at http://mail.yahoo.com
- -
------------------------------
Date: Fri, 03 Apr 1998 21:16:02 -0500
From: "J. O'Malley" <omalleyj@erols.com>
Subject: [CANSLIM] CDWI & MINI ?
Are there any thoughts regarding CDWI & MINI ? CDWI has a VERY small
float, and has traded up over the past two days. It looks interesting,
BUT... while the sales and earnings are up sharply(percentage), the
absolute dollar values are not very compelling.
MINI (A stock I own), seems to have good numbers. I wonder if I am in a
bit to early. Enough of my "rambling". Comments and insights welcomed.
Jerry O' Philadelphia, PA
- -
------------------------------
Date: Fri, 3 Apr 1998 21:16:27 -0800
From: <hoseco7@concentric.net>
Subject: [CANSLIM] Newbie question?
I am pretty much a newbie although I have been lurking around a little bit
and was seeking some advice .
What do yall think about a little bottom fishing with rwav it seems to have
met resistance at about 9 dollars today ??
Also mini is a canslim pick on the board any thoughts there it seemed to
have picked up a little this week.
thanks
- -
------------------------------
Date: Fri, 3 Apr 1998 22:54:19 -0500
From: "Surindra Singh" <sjs7b@worldnet.att.net>
Subject: [CANSLIM] Tom and Me
I got home late and found so many posts on the canslim about this topic that
I will need some time to read and respond if that is necessary. Thanks Tom
for the understanding and everyone on the list to have so much patience. If
everyone feels getting over, I will propose to close this
thread....................................
Have a nice weekend and wonderful trading next week.
Surindra
- -
------------------------------
Date: Fri, 03 Apr 1998 23:36:56 -0600
From: Dave Cameron <dfcameron@ameritech.net>
Subject: Re: [CANSLIM] Re: Market Rally
dbphoenix wrote:
>
> On the other hand, let's say that you just bought it and it begins to
> pull back. In these cases, you sell, and you do it without
> hesitation. Why? Because you bought it at the wrong time. It may
> have looked like the right time (remember JBIL?) and you may have done
> everything exactly like you were supposed to, but it wasn't the right
> time. If it had been the right time, it wouldn't have pulled back on
> you. So you sell and you watch. Maybe you try again the next day.
> Maybe there's some news you need to know about. Maybe Archduke
> Ferdinand of Serbia got shot. In any case, you watch and you wait.
> Like a spider. Then you try again, if you really want to. And if you
> don't really want to, why were you buying it in the first place?
>
This is a good paragraph for a couple of reasons:
1. I've made the mistake of taking bigger losses than need be
by "buying at the wrong time". Or... even worse, selling
at the low with a 12% loss, only to watch the stock
subsequently double.
2. JBIL is a great example - as I was watching it at the time.
3. Archduke Francis Ferdinand getting shot? Has it ever
occurred to anyone that the war which that set off really
never ended - it just paused while Emperor Tito ruled for
40+ years. As soon as the totalitarian state ended, back
to war. I'm amused by the comment.
Dave Cameron
- -
------------------------------
Date: Sat, 04 Apr 1998 14:49:38 +0000
From: Peter Christiansen <peterc@loxinfo.co.th>
Subject: Re: [CANSLIM] Breakout VSTN
Hi Dave,
My watch list is mostly made up of ideas that come from Quotes Plus scans,
plus some stocks mentioned here on the CANSLIM group. This is my sole
occupation, so I am able to devote a lot of time to it. I am usually
watching the market while it is open (9:30pm - 3:30am my time).
I don't scan for any earnings characteristics; I just look for good chart
patterns. I then manually look at the fundamentals on all interesting
charts that surface from my scans.
Cheers,
At 11:40 PM 4/3/98 -0600, you wrote:
>Peter Christiansen wrote:
>>
>> >From my watch list, VSTN is breaking out on good volume.
>>
>Just curious, how do you catch all these good breakouts?
>Quotes Plus? Eagle eyes?
>
>Also, what sort of earnings screen do you use?
>
>I ask, because lately we seem to gravitate toward very
>similar stocks, but you catch the break out earlier.
>(Maybe being 14 time zones away helps...)
>
>Dave Cameron
>dfcameron@ameritech.net
>
Peter Christiansen
Chiang Mai - Thailand
- -
------------------------------
Date: Sat, 4 Apr 1998 06:36:26 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Re- Tom and Surindra
Actually, while I was refused a reason for my termination, I was told
it had nothing to do with my professional performance. My former CEO
and my former CFO were both forced out similiarly, as the new owners
from Venezuela want puppets in place who will follow their orders on
how to run the firm despite it violating SEC, NASD or State of Fla
rules, regulations, guidance, or simply good sound business
procedures.
My signature block disclaimer, which has evolved over time, is
strictly my own idea and creation long before rules were established
on disclosing internet activity by Registered Representatives and
other associated employees of Broker-Dealers. It is based on the
limited guidance available from the regulators. Had I never used it,
my firm not only would not have known, but would not have cared. It is
simply my way of being honest and ensuring any readers of what I write
take those comments in context. I do plan to update it again this
weekend, and hopefully shorten it.
My comments are strictly my own opinion, and SHOULD NOT BE INTERPRETED
AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
Tom w
- -----Original Message-----
From: Tapas Banerjee <tapas.banerjee@csfb.com>
To: canslim@xmission.com <canslim@xmission.com>
Date: Friday, April 03, 1998 6:14 PM
Subject: [CANSLIM] Re- Tom and Surindra
I'm a silent lurker to this news group for about last three
years.
I learned a lot from the posting of Tom,James,Jeff,Trader
Jack,Connie
about investing and CANSLIM methods.
<snipped>
I hope Tom'll be with us, maybe discontinue his
disclaimer,- as I recollect disclaimer was not there in his
earlier
posting(3 years ago), maybe his ex-employer compelled him to add
those.
- -
------------------------------
Date: Sat, 4 Apr 1998 06:28:02 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Tom and Me
I concur, let's get back to picking stocks. Just another unfortunate
case of bad timing, something we face every day in the stock market.
My comments are strictly my own opinion, and SHOULD NOT BE INTERPRETED
AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
Tom w
- -----Original Message-----
From: Surindra Singh <sjs7b@worldnet.att.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Friday, April 03, 1998 10:55 PM
Subject: [CANSLIM] Tom and Me
>I got home late and found so many posts on the canslim about this
topic that
>I will need some time to read and respond if that is necessary.
Thanks Tom
>for the understanding and everyone on the list to have so much
patience. If
>everyone feels getting over, I will propose to close this
>thread....................................
>
>
>Have a nice weekend and wonderful trading next week.
>
>
>Surindra
>
>
>
>-
>
- -
------------------------------
Date: Sat, 4 Apr 1998 06:37:06 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] To all my friends on the Internet
Thanks, Anindo
My comments are strictly my own opinion, and SHOULD NOT BE INTERPRETED
AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
Tom w
- -----Original Message-----
From: Anindo Majumdar <amajumda@cisco.com>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Friday, April 03, 1998 6:27 PM
Subject: Re: [CANSLIM] To all my friends on the Internet
> Tom
>
> Good luck in your future endevours. I have learned from your
postings.
>
>Anindo
>
>
>-
>
- -
------------------------------
Date: Sat, 4 Apr 1998 06:52:20 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Canslim Tom
Thanks, Evelyn
Tom w
- -----Original Message-----
From: Evelyn Fedele <evelyn@ctaz.com>
To: canslim@xmission.com <canslim@xmission.com>
Date: Friday, April 03, 1998 8:06 PM
Subject: [CANSLIM] Canslim Tom
>Tom, They say that one door closes and another one always opens
>and that it is generally better. Good luck in your future
>endeavors. A newbie to the Digest, Evelyn
>
>-
>
- -
------------------------------
Date: Sat, 4 Apr 1998 06:51:35 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Tom Worley's true disclaimer
Bill, I learned a long time ago that it's not paranoia if they really
are out to get you, and the regulators are out to get any RRs or
associated persons who do anything on the net contrary to regulation,
or their perception or interpretation thereof. Unfortunately, clear
guidance, or better still specific rules, has been sorely lacking.
As to no one believing what they read on the internet, or hear or read
elsewhere, I must disagree. I have seen (and reported) fraudulent
schemes on the internet time after time, then a year or so later read
the report from the regulators on the same scheme. Many were just run
of the mill scamms that only took a few million from trusting
investors. But a couple of these scams stole over $30 million dollars
before they were shut down. With all my knowledge and experience, I
was scammed out of over $5000 in 1996/97 by a fraudulent company
putting out totally bogus news stories, backed up and inflammed by
ongoing dialogue on the internet. Yes, it does happen, and is still
happening today.
My comments are strictly my own opinion, and SHOULD NOT BE INTERPRETED
AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
Tom w
- -----Original Message-----
From: Bill <wgs@earthlink.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Friday, April 03, 1998 7:31 PM
Subject: Re: [CANSLIM] Tom Worley's true disclaimer
>Tom, I don't think you have to be paranoid about disclosing your
>affiliation. I don't know a single soul that would take an internet
>messages as gospel truth. For that matter, I don't know many that
will take
>action on what they see on TV, read in newspapers or magazines
either. If
>you ever get in trouble with the law, I volunteer to help you defend
>yourself. In the meantime, I suggest that you drop your signature
line and
>act just like any other member of the list. Your incessant
disclaimers
>draw attention and infer something other than what you are trying to
convey.
>
>Bill-->>
>---------------------------------
>
>
>
>At 1:15 PM -0500 4/3/98, Tom Worley wrote:
>
>>My comments are strictly my own opinion, and SHOULD NOT BE
INTERPRETED
>>AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
>>investor. All investors should do their own research prior to any
>>investment, especially one learned about on the Internet.
>>Tom w
>
>
>
>-
>
- -
------------------------------
Date: Sat, 4 Apr 1998 07:21:03 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] CDWI & MINI ?
Jerry O',
Both stocks look to have good CS elements. On MINI, assuming you bot
in the $10 base, I would say you got in on time, and the stock is
attempting a breakout. Up/down ratio excellent,but I don't like the
weakness of single digit revenue growth in three of the past four
qtrs.
On CDWI, small float hence a lack of liquidity and sharp increase in
ADV and up/down ratio. Way too far extended right now to be a fresh
CANSLIM buy, but would definitely hold and let your stops decide if
you're already in. This is strictly a momentum play now.
My comments are strictly my own opinion, and SHOULD NOT BE INTERPRETED
AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
Tom w
- -----Original Message-----
From: J. O'Malley <omalleyj@erols.com>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Friday, April 03, 1998 9:19 PM
Subject: [CANSLIM] CDWI & MINI ?
>Are there any thoughts regarding CDWI & MINI ? CDWI has a VERY small
>float, and has traded up over the past two days. It looks
interesting,
>BUT... while the sales and earnings are up sharply(percentage), the
>absolute dollar values are not very compelling.
>
>MINI (A stock I own), seems to have good numbers. I wonder if I am
in a
>bit to early. Enough of my "rambling". Comments and insights
welcomed.
>
>Jerry O' Philadelphia, PA
>
>-
>
- -
------------------------------
Date: Sat, 4 Apr 1998 07:30:17 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] RWAV, MINI (was Newbie question?)
On RWAV, the RS of 13 would completely exclude it as a CANSLIM stock.
It may work out, the EPS of 75 may continue, however A/D of C is also
not confirming any likely fast move. But it wouldn't be CS.
I just posted comments on MINI, so won't repeat here.
My comments are strictly my own opinion, and SHOULD NOT BE INTERPRETED
AS A RECOMMENDATION OF ANY KIND. I am an EX- broker and an active
investor. All investors should do their own research prior to any
investment, especially one learned about on the Internet.
Tom w
- -----Original Message-----
From: hoseco7@concentric.net <hoseco7@concentric.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Friday, April 03, 1998 9:19 PM
Subject: [CANSLIM] Newbie question?
>
>I am pretty much a newbie although I have been lurking around a
little bit
>and was seeking some advice .
>What do yall think about a little bottom fishing with rwav it seems
to have
>met resistance at about 9 dollars today ??
>Also mini is a canslim pick on the board any thoughts there it seemed
to
>have picked up a little this week.
>
> thanks
>
>
>-
>
- -
------------------------------
Date: Sat, 4 Apr 1998 07:43:42 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] My termination, and the support from this group
I want to thank all members for their kind and supportive comments,
both publicly and privately sent. I have already received nearly 50
emails, and hopefully have responded to each. Now it's time to stop
cluttering up this group, and get back to business. Let's find some
cheap stocks I can make money on. If you still want to comment or
write me on this "change in life", please send it privately to
stkguru@netside.net.
As one additional observation, I heard from a lot of lurkers. It's
nice to hear from all of you, know that you are out there, and know
that my contributions to this group have helped so many. I realize
that many are reading this group's comments and posts in digest form.
But everyone would benefit from reading not only your introduction,
but also your picks, comments on other's picks, "M", etc.
If you have a stock you like and are considering buying, posting it to
the group along with your reasons can give you a lot of feedback to
consider (and taking an addl 24 hours to consider the decision can
give you further confidence if you go ahead and buy it). Likewise, if
you are thinking of selling a stock, feedback from the group can go a
long way to helping you decide.
Lurkers unite. You outnumber us regular chatterboxes. Let's hear from
you.
Tom W
- -
------------------------------
Date: Sat, 4 Apr 1998 09:39:14 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] LGWX
I hope no one paid any attention to my mention of this one. My own
haste and stupidity led me into a mistake on this, failed to do the
due diligence sufficient to discover it was being bot out by PLAT for
stock, and the CS elements on PLAT are no where as good, nor of a
level I would choose to buy, so will have to take my lumps and loss
and get out of it.
Tom w
- -
------------------------------
Date: Sat, 04 Apr 1998 12:37:15 -0500
From: David Smith <dsmith@ids2.idsonline.com>
Subject: [CANSLIM] non-CANSLIM SOCR
Tom, you mentioned in a recent post that you are increasing your position
in SOCR...do you feel it's undervalued or is there some other reason to be
optimistic ??? From past posts I know you have followed this one carefully
so I am interested in your opinion.
- -
------------------------------
Date: Sat, 04 Apr 1998 19:10:26 +0200
From: Johan Van Houtven <Johan.VanHoutven@ping.be>
Subject: re: [CANSLIM] Breakout VSTN
Peter,
At 02:49 PM 04-04-98 +0000, you wrote:
>This is my sole
>occupation, so I am able to devote a lot of time to it. I am usually
>watching the market while it is open (9:30pm - 3:30am my time).
Until 3.30AM!? And I thought I had it bad. :) Overhere it is 4.30PM to 11PM
at the moment. Normally it is 3.30PM to 10PM. Which makes it my 'second' job.
BTW. Question for the Americans: When do you guys switch to summer hour,
i.e. turn the clock ahead 1 hour?
>I don't scan for any earnings characteristics; I just look for good chart
>patterns. I then manually look at the fundamentals on all interesting
>charts that surface from my scans.
Where do you look up the fundamentals?
How did you design your scans? Did they change over time? And what
specifically are you looking for in your scans? Just bases? Or are you able
to detect cup and handle formations, saucers and such?
- -
------------------------------
Date: Sat, 4 Apr 1998 11:02:58 -0800
From: "Patrick Wahl" <pwahl@postoffice.worldnet.att.net>
Subject: Re: [CANSLIM] Newbie question?
> From: <hoseco7@concentric.net>
> To: <canslim@lists.xmission.com>
> I am pretty much a newbie although I have been lurking around a little bit
> and was seeking some advice .
> What do yall think about a little bottom fishing with rwav it seems to have
> met resistance at about 9 dollars today ??
If anyone on this list would tell you to buy that thing, they really
haven't been paying attention. Forget you ever saw that stock and
look at the stocks that are recommended on this list. You want to be
in stocks that are right up around new highs, not stocks on the new
low list.
And you mean support at 9. Resistance is when it bumps ahead into an
old high on the way up.
- -
------------------------------
Date: Sat, 4 Apr 1998 11:09:53 -0800
From: "Patrick Wahl" <pwahl@postoffice.worldnet.att.net>
Subject: re: [CANSLIM] Breakout VSTN
> Date: Sat, 04 Apr 1998 19:10:26 +0200
> To: canslim@lists.xmission.com
> Until 3.30AM!? And I thought I had it bad. :) Overhere it is 4.30PM to 11PM
> at the moment. Normally it is 3.30PM to 10PM. Which makes it my 'second' job.
4:30pm to 11 sounds much better than my 6:30 am to 1 pm, I feel like
sleeping half the time the market is open.
>
> BTW. Question for the Americans: When do you guys switch to summer hour,
> i.e. turn the clock ahead 1 hour?
Tonight, Saturday that is.
- -
------------------------------
Date: Sat, 04 Apr 1998 22:03:50 GMT
From: musicant@autobahn.org (Dan Musicant)
Subject: Re: [CANSLIM] Re: Market Rally
On Fri, 03 Apr 1998 23:36:56 -0600, you wrote:
:dbphoenix wrote:
:>=20
:
:> On the other hand, let's say that you just bought it and it begins to
:> pull back. In these cases, you sell, and you do it without
:> hesitation. Why? Because you bought it at the wrong time. It may
:> have looked like the right time (remember JBIL?) and you may have done
:> everything exactly like you were supposed to, but it wasn't the right
:> time. If it had been the right time, it wouldn't have pulled back on
:> you. So you sell and you watch. Maybe you try again the next day.
:> Maybe there's some news you need to know about. Maybe Archduke
:> Ferdinand of Serbia got shot. In any case, you watch and you wait.
:> Like a spider. Then you try again, if you really want to. And if you
:> don't really want to, why were you buying it in the first place?
:>=20
:
:This is a good paragraph for a couple of reasons:
:
:1. I've made the mistake of taking bigger losses than need be
: by "buying at the wrong time". Or... even worse, selling
: at the low with a 12% loss, only to watch the stock=20
: subsequently double.
:
:2. JBIL is a great example - as I was watching it at the time.
:
:3. Archduke Francis Ferdinand getting shot? Has it ever=20
: occurred to anyone that the war which that set off really
: never ended - it just paused while Emperor Tito ruled for
: 40+ years. As soon as the totalitarian state ended, back
: to war. I'm amused by the comment.
:
:Dave Cameron
:
DB and Dave,
I have no quarrel with any of this. It's all just fine. What I'm kinda
curious about is your example of JBIL. Could you elaborate? I can pull
up the chart...can you give dates, figures, an explanation? I myself,
bought JBIL when it was running up wildly ... I think it must have
been in July, and I made a few bucks and sold as it lost *momentum*.
But there have been a number of gyrations, before and since...
Dan
- -
------------------------------
Date: Sat, 04 Apr 1998 18:15:36 -0600
From: Paganini <aku@flash.net>
Subject: Re: [CANSLIM] To all my friends on the Internet
Sorry to hear you got fired. It's too bad you're not an EE like me :)
Cuz then, all you have to do, is to work for one of your competitors and
get a raise. Like, if I am terminated tomorrow, I'd go over to Texas
Instruments and get a job right there.:) (I work for MOT in case you
don't know).
Tony
- -
------------------------------
End of canslim-digest V2 #177
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