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1998-04-30
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From: owner-canslim-digest@lists.xmission.com (canslim-digest)
To: canslim-digest@lists.xmission.com
Subject: canslim-digest V2 #219
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 Thursday, April 30 1998 Volume 02 : Number 219
In this issue:
Re: [CANSLIM] Employment
Re: [CANSLIM] non-CANSLIM - real time quotes
[CANSLIM] netscape
Re: [CANSLIM] Employment
[CANSLIM] Free Realtime Quotes
Re: [CANSLIM] netscape
Re: [CANSLIM] Oil related stocks
RE: [CANSLIM] Employment
[CANSLIM] Shorts
Re: [CANSLIM] netscape
Re: [CANSLIM] Employment
Re: [CANSLIM] Employment, EPIQ, HDWY
Re: [CANSLIM] Oil related stocks
Re: [CANSLIM] Employment
Re: [CANSLIM] Shorts
[CANSLIM] My watch list - SALT
[CANSLIM] EDAC
Re: [CANSLIM] Oil related stocks
[CANSLIM] DAYR
Re: [CANSLIM] Canslim site.
[CANSLIM] Earnings Estimates
[CANSLIM] "M" and Shorting
[CANSLIM] Cup and Handle
Re: [CANSLIM] "M" and Shorting
[CANSLIM] Settings for BigCharts
[CANSLIM] Daily Graph Online Group rate
[CANSLIM] Economic Reports for rest of week (was Fw: Finance - Morning Call @ 04/30/98)
Re: [CANSLIM] Cup and Handle - Tom Worley
[CANSLIM] OBV/MF:An almost stock.
Re: [CANSLIM] Cup and Handle - Tom Worley
Re: [CANSLIM] Settings for BigCharts
----------------------------------------------------------------------
Date: Wed, 29 Apr 1998 19:17:52 -0700
From: "Louis Gipson, RN" <rnlou@c-zone.net>
Subject: Re: [CANSLIM] Employment
Hi Tom,
Congratulation on your new job. Ain't it sweet. I often find the best
revenge to be more successful than those who hurt you.
Lou
Tom Worley wrote:
>
> Well, gang, looks like the vacation is over. I start work at a
> international German bank on Monday with about half the responsibility
> I had at my last job but for a base pay more than 20% higher (and
> excellent benefits will add another 10% to that). It looked for some
> time like I was going into the foreign exchange side of the back
> office, but at the last minute they decided they wanted my securities
> expertise more, and were afraid someone else would hire me in the
> meantime.
>
> Sorry if this throws next month's Employment Cost Index into
> inflationary ground, but I always did say I was underpaid. And it was
> a nice feeling to have several companies scrambling to hire me. And
> yes, the one I wanted got me, altho several others were talking more
> money.
>
> Even my HDWY celebrated today, up 13.9%. My only regret is I didn't
> have the guts to do what I considered doing on Monday, using the cash
> in my IRA to buy another 800 shares around 7.5!! Oh well, there's
> always another train leaving the station.
>
> I will no longer be "licensed" and banking restrictions are no where
> as severe as in the securities industry, so can freely express my
> opinion in the future.
>
> Tom W
>
> -
- -
------------------------------
Date: Thu, 30 Apr 1998 02:20:07 GMT
From: musicant@autobahn.org (Dan Musicant)
Subject: Re: [CANSLIM] non-CANSLIM - real time quotes
On Wed, 29 Apr 1998 11:39:56 -0500, you wrote:
:looks like the floodgates have opened and everybody is finally going to
:start offering free RT quotes
Well it's about time. Seems to me that anything else in
unconscionable.
Dan
- -
------------------------------
Date: Wed, 29 Apr 1998 22:57:43 -0700
From: <hoseco7@concentric.net>
Subject: [CANSLIM] netscape
Members I know this is not canslim but.....
What about Netscape is it a breakout ?
I know a lot of analyst are saying it is the best buy among the
so called Internet stocks.
Any opinions are greatly appreciated
David the rookie
- -
------------------------------
Date: Wed, 29 Apr 1998 23:30:50 -0400
From: "James Adams" <jimadams@may-uky.campus.mci.net>
Subject: Re: [CANSLIM] Employment
Tom Worley <stkguru@netside.net>
>Well, gang, looks like the vacation is over. I start work at a
>international German bank on Monday with about half the responsibility
>I had at my last job but for a base pay more than 20% higher (and
>excellent benefits will add another 10% to that).
Congrats Tom. FWIW, you've been on my prayer list for the past few
weeks...in spite of my many quite unorthodox beliefs, at least compared to
many of my methodist pastor colleagues, I do believe that good word on
behalf of a good person can't hurt <G>.
>Even my HDWY celebrated today, up 13.9%. My only regret is I didn't
My rheumatoid arthritis kept me on the couch most of the day so I missed the
HDWY qtr report and hence the good move. I'm wondering if it is too extended
at this level.
BTW, I didn't stop out of EPIQ, as any smart CANSLIMMER would do, rather I
averaged down in the mid $13s. Watching it around 12 and still
holding......I hate not following my own advice. CNBC reported today that
several software companies report better than expected earnings this a.m. I
hope this will kick epiq tommorrow. If not, as they used to say on the gator
boats, "sailor, you're sol."
James Adams......................Maysville, KY USA
http://www.cris.com/~jimadams/
Internet Pager 1343361@pager.mirabilis.com
- -
------------------------------
Date: Wed, 29 Apr 1998 23:35:31 -0400
From: "James Adams" <jimadams@may-uky.campus.mci.net>
Subject: [CANSLIM] Free Realtime Quotes
URL: www.quotecentral.com
I don't know if this site has been mentioned, but they not only give 100
free realtime quotes a day with intraday charts, they also many other free
options from screening to major financial periodical indices to search for
info.
James Adams......................Maysville, KY USA
http://www.cris.com/~jimadams/
Internet Pager 1343361@pager.mirabilis.com
- -
------------------------------
Date: Thu, 30 Apr 1998 00:01:24 EDT
From: DCSquires <DCSquires@aol.com>
Subject: Re: [CANSLIM] netscape
In a message dated 98-04-29 23:01:31 EDT, you write:
<< What about Netscape is it a breakout ? >>
NSCP had a nice move from a double bottom pattern. Today it broke through a 10
month down trendline, which is bullish. However, it is still trading below its
200 day MA. This MA is at 29 and falling. I would expect some resistence at
this average. The move today was likely associated with NSCP's appearence at
the H&Q tech. conference so the move was likely news driven. I would rather
see it move on no news.
DSquires
- -
------------------------------
Date: Wed, 29 Apr 1998 21:21:16 PDT
From: "Charles Morgan" <grcmorgan@hotmail.com>
Subject: Re: [CANSLIM] Oil related stocks
Tom,
Congrats on the job.
Do you think that Asia is playing the biggest role in decreased demand
for oil? I personally believe so. I am going to keep a closer eye on the
supply and demand of oil. If I see a large increase in demand without a
change or increase in oil supplies, I will probably increase my
investments in my international fund. If the demand stays low, I will
keep my eye on U.S. stocks with large Asian exposure since a prolonged
crisis will affect their earnings.
Chuck
>From: "Tom Worley" <stkguru@netside.net>
>To: "CANSLIM" <canslim@lists.xmission.com>
>Subject: [CANSLIM] Oil related stocks
>Date: Wed, 29 Apr 1998 20:19:23 -0400
>Reply-To: canslim@lists.xmission.com
>
>In case you missed the data, crude oil prices got hammered again
>today. Reasons were varied, from Norway (the #2 producer after Saudi
>Arabia) electing not to send a rep to the upcoming June meeting of
>OPEC (where they are going to attempt to cut another 500,000 barrels a
>day of production), to rumors that Venezuela plans to increase
>production 15% next year if the agreement to cut production falls
>apart, to reports of crude inventory increasing (highest since Dec
>1993), to DOE report of gas inventory increasing by another million
>barrels last week despite all the cracker plants that have been shut
>down for maintenance or repair.
>
>Seems that despite the current low energy prices, the demand just
>isn't there.
>
>Tom W
>
>
>
>-
>
>
______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com
- -
------------------------------
Date: Thu, 30 Apr 1998 01:02:58 -0400
From: "Surindra Singh" <sjs7b@worldnet.att.net>
Subject: RE: [CANSLIM] Employment
Congratulations Tom.
This was the right time for your disclosure drafted by me (If you still
remember), which came little premature. Meanwhile Viagra is released and PFE
is heading north ;-)
Surindra
:-----Original Message-----
:From: owner-canslim@lists.xmission.com
:[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley
:Sent: Wednesday, April 29, 1998 7:02 PM
:To: CANSLIM
:Subject: [CANSLIM] Employment
:
:
:Well, gang, looks like the vacation is over. I start work at a
:international German bank on Monday with about half the responsibility
:I had at my last job but for a base pay more than 20% higher (and
:excellent benefits will add another 10% to that). It looked for some
:time like I was going into the foreign exchange side of the back
:office, but at the last minute they decided they wanted my securities
:expertise more, and were afraid someone else would hire me in the
:meantime.
:
:Sorry if this throws next month's Employment Cost Index into
:inflationary ground, but I always did say I was underpaid. And it was
:a nice feeling to have several companies scrambling to hire me. And
:yes, the one I wanted got me, altho several others were talking more
:money.
:
:Even my HDWY celebrated today, up 13.9%. My only regret is I didn't
:have the guts to do what I considered doing on Monday, using the cash
:in my IRA to buy another 800 shares around 7.5!! Oh well, there's
:always another train leaving the station.
:
:I will no longer be "licensed" and banking restrictions are no where
:as severe as in the securities industry, so can freely express my
:opinion in the future.
:
:Tom W
:
:
:
:-
:
- -
------------------------------
Date: Thu, 30 Apr 1998 06:03:19 -0400
From: Jeffry White <"postwhit@sover.net"@sover.net>
Subject: [CANSLIM] Shorts
Phew!! SPY short is a good one to watch on Market Direction. Please
tell us if it turns positive on "TSV". I don't know what that indicator
is, would you explain?
Jeffry
- -
------------------------------
Date: Thu, 30 Apr 1998 07:31:21 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] netscape
Their business seems to have picked up well since they started giving
away the software (measured in terms of mkt share). At their recent
conference call, the CEO said he is working hard to return them to
profitability, but give him another qtr or so.
Tom W
- -----Original Message-----
From: hoseco7@concentric.net <hoseco7@concentric.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Wednesday, April 29, 1998 10:57 PM
Subject: [CANSLIM] netscape
>
>Members I know this is not canslim but.....
>What about Netscape is it a breakout ?
>I know a lot of analyst are saying it is the best buy among the
>so called Internet stocks.
>Any opinions are greatly appreciated
>
>David the rookie
>
>
>-
>
- -
------------------------------
Date: Thu, 30 Apr 1998 07:29:11 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Employment
And they haven't yet gotten my invoice for over $50,000 of overtime
pay due!!! That's what they get for trying to steal a week of my paid
vacation, then give me a BS excuse why they didn't have to pay it!
I'm not very good at holding a grudge, but on the rare occasions I am
given sufficient provocation, look out!!
And by Monday, they will be in violation of the rules on COBRA (they
still haven't notified me) and that's a $100/day fine. And I will file
the complaint.
Tom W
- -----Original Message-----
From: Louis Gipson, RN <rnlou@c-zone.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Wednesday, April 29, 1998 10:18 PM
Subject: Re: [CANSLIM] Employment
>Hi Tom,
>
>Congratulation on your new job. Ain't it sweet. I often find the
best
>revenge to be more successful than those who hurt you.
>
>Lou
>
>
>
>Tom Worley wrote:
>>
>> Well, gang, looks like the vacation is over. I start work at a
>> international German bank on Monday with about half the
responsibility
>> I had at my last job but for a base pay more than 20% higher (and
>> excellent benefits will add another 10% to that). It looked for
some
>> time like I was going into the foreign exchange side of the back
>> office, but at the last minute they decided they wanted my
securities
>> expertise more, and were afraid someone else would hire me in the
>> meantime.
>>
>> Sorry if this throws next month's Employment Cost Index into
>> inflationary ground, but I always did say I was underpaid. And it
was
>> a nice feeling to have several companies scrambling to hire me. And
>> yes, the one I wanted got me, altho several others were talking
more
>> money.
>>
>> Even my HDWY celebrated today, up 13.9%. My only regret is I didn't
>> have the guts to do what I considered doing on Monday, using the
cash
>> in my IRA to buy another 800 shares around 7.5!! Oh well, there's
>> always another train leaving the station.
>>
>> I will no longer be "licensed" and banking restrictions are no
where
>> as severe as in the securities industry, so can freely express my
>> opinion in the future.
>>
>> Tom W
>>
>> -
>
>-
>
- -
------------------------------
Date: Thu, 30 Apr 1998 07:37:52 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Employment, EPIQ, HDWY
James,
Thanks for the prayers, just glad it all worked out well finally.
I've still got EPIQ on my watch list, trying to figure out what's
going on and what would be a good price to reenter. It's still got a
lot of excellent CS elements, lacking only a clear chart picture.
Had I been smart/aggressive/risk taking enough to have bot more HDWY
on Monday, I would probably have sold it yesterday for a quick 30%
profit. It did close very strong yesterday on the earnings report, and
a follow thru this morning may give it a new high. Is it too extended?
Probably, but momentum suggests to me it may move higher yet.
Tom W
- -----Original Message-----
From: James Adams <jimadams@may-uky.campus.mci.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Wednesday, April 29, 1998 11:29 PM
Subject: Re: [CANSLIM] Employment
>Congrats Tom. FWIW, you've been on my prayer list for the past few
>HDWY qtr report and hence the good move. I'm wondering if it is too
extended
>
>BTW, I didn't stop out of EPIQ, as any smart CANSLIMMER would do,
rather I
>averaged down in the mid $13s. Watching it around 12 and still
>holding......I hate not following my own advice. CNBC reported today
that
>several software companies report better than expected earnings this
a.m. I
- -
------------------------------
Date: Thu, 30 Apr 1998 07:41:51 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Oil related stocks
Asia's economic crises has certainly contributed, but I suspect El
Nino has done considerably more at this point.
I do not anticipate seeing much further damage done to US corp profits
by Asia than what we have already seen. Domestic demand for products
seems to have offset most of the effect, with the net result being
more price competition but little slowdown in economic activity (one
of the reasons the Fed bias shifted from neutral to tightening).
Tom W
- -----Original Message-----
From: Charles Morgan <grcmorgan@hotmail.com>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Thursday, April 30, 1998 12:20 AM
Subject: Re: [CANSLIM] Oil related stocks
>Tom,
> Congrats on the job.
>
>Do you think that Asia is playing the biggest role in decreased
demand
>for oil
- -
------------------------------
Date: Thu, 30 Apr 1998 07:49:12 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Employment
How could I forget, Surindra??? <grinning now>
Now I have the literary license to work on some really creative
disclosure blocks!!
Tom W
- -----Original Message-----
From: Surindra Singh <sjs7b@worldnet.att.net>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Thursday, April 30, 1998 1:03 AM
Subject: RE: [CANSLIM] Employment
>Congratulations Tom.
>
>This was the right time for your disclosure drafted by me (If you
still
>remember), which came little premature
- -
------------------------------
Date: Thu, 30 Apr 1998 09:04:57 -0400
From: "Tony Austin" <tonya@awod.com>
Subject: Re: [CANSLIM] Shorts
Jeffry
SPY should be something of a market indicator. It is a compilation of the
S&P 500 stocks, and should closely mirror that index.
TSV - Time segmented volume. It's a function of volume that is added or
subtracted from a running total, depending on if it's an up or down day. A
running average line is used for signal'g upward or downward divergence in
the buying or selling trend.
Technicians spend a great deal of time looking at this, and other
indicators, trying to get a feel for where the market is going. But in the
end, you can't argue with what the market is actually doing. If you do,
you will loose. The jury is still out on this market. Time and time
again, over the past few years, it has continued to go up when, by all
indications, it should start going down. I'm not looking for this
correction to be over.....but I'm not going to argue with the market
either.
Tony
- ----------
> From: Jeffry White <"postwhit@sover.net"@sover.net>
> To: canslim@mail.xmission.com
> Subject: [CANSLIM] Shorts
> Date: Thursday, April 30, 1998 6:03 AM
>
> Phew!! SPY short is a good one to watch on Market Direction. Please
> tell us if it turns positive on "TSV". I don't know what that indicator
> is, would you explain?
>
> Jeffry
>
> -
>
- -
------------------------------
Date: Thu, 30 Apr 1998 09:16:30 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] My watch list - SALT
Added one this morning, a real low tech stock, Salton Maxim Housewares
(SALT). Chart not real clear, looks a little extended, but it has
already earned more in the first six months than all of last fiscal
year. CS elements look decent, will watch it for now.
Tom W
- -
------------------------------
Date: Thu, 30 Apr 1998 09:27:50 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] EDAC
Earned 16 cents vs 7 cents for Q1, no details yet, just the headline.
Tom W
- -
------------------------------
Date: Thu, 30 Apr 1998 09:15:26 +0200
From: Johan Van Houtven <Johan.VanHoutven@ping.be>
Subject: Re: [CANSLIM] Oil related stocks
Tom,
Take a look at HAL, RIG, etc and tell me what the chart says...
At 08:19 PM 29-04-98 -0400, you wrote:
>In case you missed the data, crude oil prices got hammered again
>today. Reasons were varied, from Norway (the #2 producer after Saudi
>Arabia) electing not to send a rep to the upcoming June meeting of
>OPEC (where they are going to attempt to cut another 500,000 barrels a
>day of production), to rumors that Venezuela plans to increase
>production 15% next year if the agreement to cut production falls
>apart, to reports of crude inventory increasing (highest since Dec
>1993), to DOE report of gas inventory increasing by another million
>barrels last week despite all the cracker plants that have been shut
>down for maintenance or repair.
>
>Seems that despite the current low energy prices, the demand just
>isn't there.
>
>Tom W
>
>
>
>-
>
>
Johan Van Houtven
CLICK! N.V. / Wilrijk, Belgium
- -
------------------------------
Date: Thu, 30 Apr 1998 08:03:10 -0700
From: Tim Fisher <tim@OreRockOn.com>
Subject: [CANSLIM] DAYR
I haven't been watching since Friday and so missed the move, but what do you
think of DAYR? The MF turned positive around the 21st and the 3/7/10 EMA
gave a
buy on the 14th or so. I realize the institutions are high but I don't see
anything else moving on my insanely long watch list (therefore, why the
heck am
I considering buying anything?) My goofy little EPS/RS figures are in the 60s,
kinda low. Here's the stats I have:
OFFICE SPPL&FRM Day Runner Inc
TICKER DAYR
EXCHANGE NSDQ
24WK PCHG% 5.13
TREND EPGR 30.73
QEPS 0/-4 34.33
QEPS -1/-5 22.81
QEPS -2/-6 44.44
% INSTITUT 52.55
% INSIDERS 18.91
TREND SALE 14.95
P/E 12M 17.08
ROI 25.45
D/Equity 0.00
PEG F1 0.86
Tim Fisher / tim@OreRockOn.com
Ore-Rock-On and Pacific Fishery Biologists WWW Sites:
http://OreRockOn.com
See naked fish and rocks!
- -
------------------------------
Date: Thu, 30 Apr 1998 11:09:11 -0400
From: Connie Mack Rea <rea1@dp.net>
Subject: Re: [CANSLIM] Canslim site.
Morning Gary--
I called up the URL minus the "Canslim" amendment. The site comes up,
but I don't see how I found the Canslim screen. Sorry.
Will look again when I have a minute.
Thanks for the mail.
Connie Mack
Gary M. Pess wrote:
> Connie,
>
> Could you check the site URL, it comes back not found.
>
> Gary Pess
> Handman
>
> Connie Mack Rea wrote:
>
> > Members--
> >
> > I came upon this site while looking at sites for myself.
> >
> > I've no opinion. Just happened to see it was dedicated to Canslim.
> >
> > http://stockguide.com/canslim.htm
> >
> > Connie Mack
> >
> > -
>
> -
- -
------------------------------
Date: Thu, 30 Apr 1998 13:52:44 EDT
From: DCSquires <DCSquires@aol.com>
Subject: [CANSLIM] Earnings Estimates
Hi all,
I just noticed to that YHOO has improved its reaserch section dramatically.
Go to YHOO finance and enter a ticker>click on research>then detailed
research.
http://quote.yahoo.com/
Dsquires
- -
------------------------------
Date: Thu, 30 Apr 1998 14:47:36 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] "M" and Shorting
Boy, after all the posts on these topics lately, the group has sure
gotten quiet. The economic reports this morning which have sent both
the stock and bond mkt screaming higher are real, but did not surprise
me. Likewise, the severity of the reaction is the mirror image (and
just as illogical) as was the mkt's reaction on Monday to a "ho hum
this isn't news" article by WSJ. Sadly, a lot of investors, and even
institutional mgrs, got whipsawed this week. This is why I place so
much personal emphasis on economics and its relationship to the mkt.
And why you need to know what's expected vs reported.
The combination of Q1 GDP (gross domestic product) coming in well over
expectations (indicating stronger growth despite Asia - hmmmm, seems I
remember someone here mentioning this??) with the ECI (employment cost
index) coming in well under expectations sent a message that we are
not falling into recession, nor is inflation creating a need for the
Feds to hike rates any time soon. The fact that the Implicit Price
Deflator (a sig "future inflation" indicator, and part of the Q1 GDP
report) was at a 34 year LOW also helped measurably.
Bottom line, it's going to take hard data for the Feds to justify
raising rates, and they're not likely to now have that before the May
FOMC meeting. Whether they get it before the July meeting remains to
be seen.
Keep in mind that tomorrow there is also a number of economic reports
to be released, and with this volatility, we could give a lot of this
back if the reports are bad (altho I don't expect that). I will post
the reports and estimates after this.
Tom W
- -
------------------------------
Date: Thu, 30 Apr 1998 15:02:28 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Cup and Handle
Got an interesting piece of literature from IBD today. It's a chart of
Nasdaq for 1996 with WON's notations on distribution, buy and sell
points. Unfortunately, I don't have a scanner, but will mail it to
someone that does and can scan and post it.
I noticed one item in particular - it shows a c&h forming during the
months of July, August and first part of September. As the right side
of the cup forms, about half way up and approx at 1100, is the
notation "BUY - Market trend now is up. This is the 1st rally that has
a follow thru day up 1% with volume increasing.". This suggests that
at least on some occasions WON advocates buying on the right side of
the cup and not waiting for the handle to form and breakout from
there. The chart also shows four days of distribution indicating sell
conditions, a price break downward, a short consolidation and rally,
before showing the first SELL on a failed rally signal, which was on
the sixth day of the rally when it finally failed to follow thru. A
second, third and fourth SELL is shown for three following rally
attempts that also finally failed to follow thru. All this preceded
the c&h formation and were from about 1275 down to about 1175, with
the left edge of the cup at about 1200 and the bottom at about 1050.
The notation, BTW, on the volume for those four distribution days is
"Volume increases from day before and market prices stall or close
down".
Tom W
- -
------------------------------
Date: Thu, 30 Apr 1998 16:24:34 -0400
From: "Tony Austin" <tonya@awod.com>
Subject: Re: [CANSLIM] "M" and Shorting
Tom
I agree 100% with what you are saying and the position that the market is
largely driven by the economy and related economic factors. The fact that
we think the market is ready for a correction or that the market needs a
correction has no bearing on the market itself. My cautioning remarks are
not intended to spread doom and gloom, my out look is still very possitive.
However. I remain short term cautious. It is not uncommon to have rangy
up and down days during a period of correction or consolidation. The proof
of market strength will be the continuation of the strong volume, strong
upward price movement and breaking back into the new high territory. Given
the strength of today, I am certainly more possitive than I was earlier in
the week. Here's hoping it continues.
> Sadly, a lot of investors, and even institutional mgrs, got whipsawed
this week.
Me included. I'm short SPY and it was up 2 plus points today. #@!$%&$!!!
Tony
- -
------------------------------
Date: Thu, 30 Apr 1998 17:17:12 -0400
From: Connie Mack Rea <rea1@dp.net>
Subject: [CANSLIM] Settings for BigCharts
Members--
Some have asked me what settings I prefer for BigCharts. I will give
those and a couple of other useful points. I am using
Netscape/Communicator 4.01. There is not much reason for using earlier
numbers, for downloads are free. Communicator 4.05 is out. I prefer
Netscape to Explorer, though you can run them both.
BC is programmed in "frames." That means that there are several smaller
frames [pictures] within the larger frame, which is the screen you see
when you pull up BC. You can change several settings by clicking
Edit/Preferences/Appearance/Fonts. There you can choose a font/size, and
a number of other preferences.
Too, you can click on any frame and change the font size by clicking on
View.
You should be familiar with everything on the Preferences menu; there is
much else there about mail and other settings.
Time Frame: Set to 3-mos for initial scan with MoneyFlow [MF] in lower
window. Once stock is selected: [1] switch to OnBalanceVolume [OBV] in
lower window; [2] switch to SlowStochastic [and sometimes to
FastStochastic if you want to be aggressive]; [3] switch to MACD; [4]
switch to Volume+. I rarely look at anything else except Volume
Accumulation.
EMA [exponential moving average] is altered. Go to Indicators. Click
the EMA 3-line and erase the 5 you should see, which is the default.
Enter this line exactly, with the commas: 3,7,10. You should see these
numbers appear at the top or the chart after you click Draw Chart. You
can insert any numbers you want, and, as I recall, up to six or seven
numbers.
I look at a 1-mos chart out of habit. Then I look at a 5-day hourly
chart to find support/resistance. I may or may not run all the
indicators through the 5-day setting. You do get some radically
different perspectives from intraday charts. I look especially for any
positive divergence occurring in the last five days. If I can discern
support/resistance on the 5-day, I go to the 1-day 5-minute chart to
find an entry number.
I leave the Index to None.
Upper Indicators: Parabolic SAR. Don't sell this indicator short. Not
exactly the right words. Don't ignore this indicator. It is designed
to keep you in the market, either long or short, all the time. It
tracks my EMA fairly closely. I have asked BC for the formula to no
avail.
Lower Indicators: MoneyFlow [or OBV, for I discard any stock not meeting
both parameters].
Price Display: Always candles.
Chart Background: Either Default or Three Tone. Three Tone wastes a lot
of ink when you print. Some of the other displays are very colorful.
However, sometimes when you print out a chart, the colors will print
between gray and darker and black. You can use up a printer head ink
supply pretty quick when you print anything but black on white.
If you find, on other sites, almost all color displays, you can usually
do this to get away from using up your ink incredibly fast, and I mean
fast: Edit/Select All/Copy. Then open up a word processor page and do
this: Edit/Paste. This will usually alter the format to black and
white, from which you can now print. You may lose some formating, for
color pages are more complex than plain text.
Chart Size: Click Large, and depending on how large your fonts are, you
may or may not be able to see the whole chart at once. If you can't see
the whole chart, chose Medium or Small.
And choose Store Settings.
You can print from three locations: File/Print, Print from your upper
status line, and Print Charts on the bottom right of the chart page. If
you're not familiar with File/Print/Print Prevue do so. You get
slightly different data when printing from Print in your status line
and File/Print than you do from Print Charts.
In the past I have had trouble with Print Charts after printing three or
four pages; I no longer use it.
I print out every chart [4-6] because I know of no way to include two or
more lower charts on a single page.
Connie Mack
- -
------------------------------
Date: Fri, 01 May 1998 17:26:36 +0800
From: Robert Acker <reajr5@gte.net>
Subject: [CANSLIM] Daily Graph Online Group rate
Any news about getting a group rate on Daily Graphs online
service ? I t would be great to get a group rate on the Investor's
Business Daily newspaper and Daily Graphs hardcover chart service too !
Daily graphs online stopped working for me ,after calling them I
was told to
re-register after downloading lastest software .Any information
appreciated .
- -
------------------------------
Date: Thu, 30 Apr 1998 17:35:53 -0400
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Economic Reports for rest of week (was Fw: Finance - Morning Call @ 04/30/98)
>
>ECONOMIC NEWS: Thursday, April 30
Period Data Estimate
Previous Period
> Employment Cost Index 1Q + 0.7% + 0.9% + 1.0%
> Gross Domestic Product 1Q + 4.2% + 3.3% + 3.7%
> Jobless Claims weekly 319,000 313,000 318,000 (R)
> Help-Wanted Ad Index March 92.0 na 92.0
>
>
>
> FRIDAY:
> ** 8:30 a.m. ET: March personal income. Consensus
estimate: +0.2%. Prior report: +0.6%.
> ** 8:30 a.m. ET: March personal spending. Consensus
estimate: +0.3%. Prior report: +0.4%.
> ** 10 a.m. ET: April purchasing manager's index.
Consensus estimate: 54. Prior report: 54.8.
> ** 10 a.m. ET: March construction spending. Consensus
estimate: no change. Prior report: +0.3%.
> ** 10 a.m. ET: April Michigan sentiment. Consensus
estimate: 107.5. Prior report: 108.0.
> ** April car sales. Consensus estimate: 6.6 million.
Prior report: 6.6 million.
> ** April truck sales. Consensus estimate: 6.5 million.
Prior report: 6.6 million.
>
>
- -
------------------------------
Date: Thu, 30 Apr 1998 17:43:13 -0400
From: "Carlos E. Fernandez-Touzon" <c-los@erols.com>
Subject: Re: [CANSLIM] Cup and Handle - Tom Worley
Tom -- I am new to CAN SLIM and find some of the charts and "M"
particularly intimidating. I was thinking about ordering some of the wall
charts from IBD but was not very sure if they would be very helpful.
Since you have it --- was it worth ordering?
Carlos
Tom Worley wrote:
> Got an interesting piece of literature from IBD today. It's a chart of
> Nasdaq for 1996 with WON's notations on distribution, buy and sell
> points. Unfortunately, I don't have a scanner, but will mail it to
> someone that does and can scan and post it.
>
> I noticed one item in particular - it shows a c&h forming during the
> months of July, August and first part of September. As the right side
> of the cup forms, about half way up and approx at 1100, is the
> notation "BUY - Market trend now is up. This is the 1st rally that has
> a follow thru day up 1% with volume increasing.". This suggests that
> at least on some occasions WON advocates buying on the right side of
> the cup and not waiting for the handle to form and breakout from
> there. The chart also shows four days of distribution indicating sell
> conditions, a price break downward, a short consolidation and rally,
> before showing the first SELL on a failed rally signal, which was on
> the sixth day of the rally when it finally failed to follow thru. A
> second, third and fourth SELL is shown for three following rally
> attempts that also finally failed to follow thru. All this preceded
> the c&h formation and were from about 1275 down to about 1175, with
> the left edge of the cup at about 1200 and the bottom at about 1050.
>
> The notation, BTW, on the volume for those four distribution days is
> "Volume increases from day before and market prices stall or close
> down".
>
> Tom W
>
> -
- -
------------------------------
Date: Thu, 30 Apr 1998 19:08:41 -0400
From: Connie Mack Rea <rea1@dp.net>
Subject: [CANSLIM] OBV/MF:An almost stock.
Members--
I have been itchy since Monday to get back into the market. I posted
what I bought when I went back in.
I had a bit of cash left and wanted another stock for today. I had
another five stocks kick out of the OBV/MF screen, but each finally came
up short. Here is one that I almost bought. It is a good example to
study: ITRI.
The MF, both on the 30-day and the 5-day, looks promising. I
particularly like the action for the last seven days. Nice positive
MFdivergence. A trendline across the tops of the stock and one on the
MF show positive divergence. The divergence looks equally good on the
30-day.
The 5-day OBV chart has to be worked a bit to come up with any positive
divergence. The last four days are steady enough. To squeeze anything
positive, you must like the looks of the slight price decline for the
last two days, from 14.75 to 15.25, that has settled at 15.25. Today's
EMAs have bunched up and are gathering strength.
These are 1-day observations: Today's Volume Accumulation looks good.
There was a nice Volume+ spike about 2:00.
The SlowStochastic looked good at the close.
The MACD bunched for most of the day and moved up on the close.
The 3/7/10 EMA went buy. But remember that when any indicator is
squeezed into a 1-5 intraday chart, and especially a one day chart,
you're next door to guessing.
Looked at from yesterday's close, the stock failed OBV/MF. Looked at
from today's close, I am interested in the very short term for probably
a swing trade [2-10 days].
I am "guessing" that the bunching of the price and and the indicators
can be read for a move up. I am lying to myself some, for I have
squeezed hard to see the necessary positiveness OBV/MF. I will watch
ITRI on the 1-day chart and note a Time & Sales chart. If the market is
not momentarily worn out, I'll buy three lots: 15 1/16ths, 3/16ths, and
5/16ths. I will not buy the last until I at least have the 3/16ths
filled.
I have been day trading IMFX.
Connie Mack
- -
------------------------------
Date: Thu, 30 Apr 1998 20:27:54 EDT
From: DCSquires <DCSquires@aol.com>
Subject: Re: [CANSLIM] Cup and Handle - Tom Worley
In a message dated 98-04-30 17:46:29 EDT, you write:
<< Tom -- I am new to CAN SLIM and find some of the charts and "M"
particularly intimidating. I was thinking about ordering some of the wall
charts from IBD but was not very sure if they would be very helpful.
Since you have it --- was it worth ordering?
>>
I believe the graph Tom is refering to comes free with the "Maximizing Your
Investment Results" tape....The tape was free for the asking a while ago, call
IBD for the details.
Re your intimidation of M, don't feel bad, it is aways the most daughting part
of CS.
The best thing you can do is reread HTMMIS over and over. Also, the tapes they
sell are quite good for more understanding of M and Big O's principles in
general.
DSquires
- -
------------------------------
Date: Thu, 30 Apr 1998 18:22:42 -0700
From: Tim Fisher <tim@OreRockOn.com>
Subject: Re: [CANSLIM] Settings for BigCharts
Connie, Clearstation has the 3-indicator chart. It's not flexible but it
does show 3,7,10 EMA, slow & fast MACD, slow & fast Stochastic, Volume +,
but not (AFAIK) MF or OBV. Looks like it would print nice.
At 05:17 PM 4/30/98 -0400, you wrote:
>Members--
>
>Some have asked me what settings I prefer for BigCharts. I will give
>those and a couple of other useful points. I am using
>Netscape/Communicator 4.01. There is not much reason for using earlier
>numbers, for downloads are free. Communicator 4.05 is out. I prefer
>Netscape to Explorer, though you can run them both.
>
>BC is programmed in "frames." That means that there are several smaller
>frames [pictures] within the larger frame, which is the screen you see
>when you pull up BC. You can change several settings by clicking
>Edit/Preferences/Appearance/Fonts. There you can choose a font/size, and
>a number of other preferences.
>
>Too, you can click on any frame and change the font size by clicking on
>View.
>
>You should be familiar with everything on the Preferences menu; there is
>much else there about mail and other settings.
>
>Time Frame: Set to 3-mos for initial scan with MoneyFlow [MF] in lower
>window. Once stock is selected: [1] switch to OnBalanceVolume [OBV] in
>lower window; [2] switch to SlowStochastic [and sometimes to
>FastStochastic if you want to be aggressive]; [3] switch to MACD; [4]
>switch to Volume+. I rarely look at anything else except Volume
>Accumulation.
>
>EMA [exponential moving average] is altered. Go to Indicators. Click
>the EMA 3-line and erase the 5 you should see, which is the default.
>Enter this line exactly, with the commas: 3,7,10. You should see these
>numbers appear at the top or the chart after you click Draw Chart. You
>can insert any numbers you want, and, as I recall, up to six or seven
>numbers.
>
>I look at a 1-mos chart out of habit. Then I look at a 5-day hourly
>chart to find support/resistance. I may or may not run all the
>indicators through the 5-day setting. You do get some radically
>different perspectives from intraday charts. I look especially for any
>positive divergence occurring in the last five days. If I can discern
>support/resistance on the 5-day, I go to the 1-day 5-minute chart to
>find an entry number.
>
>I leave the Index to None.
>
>Upper Indicators: Parabolic SAR. Don't sell this indicator short. Not
>exactly the right words. Don't ignore this indicator. It is designed
>to keep you in the market, either long or short, all the time. It
>tracks my EMA fairly closely. I have asked BC for the formula to no
>avail.
>
>Lower Indicators: MoneyFlow [or OBV, for I discard any stock not meeting
>both parameters].
>
>Price Display: Always candles.
>
>Chart Background: Either Default or Three Tone. Three Tone wastes a lot
>of ink when you print. Some of the other displays are very colorful.
>However, sometimes when you print out a chart, the colors will print
>between gray and darker and black. You can use up a printer head ink
>supply pretty quick when you print anything but black on white.
>
>If you find, on other sites, almost all color displays, you can usually
>do this to get away from using up your ink incredibly fast, and I mean
>fast: Edit/Select All/Copy. Then open up a word processor page and do
>this: Edit/Paste. This will usually alter the format to black and
>white, from which you can now print. You may lose some formating, for
>color pages are more complex than plain text.
>
>Chart Size: Click Large, and depending on how large your fonts are, you
>may or may not be able to see the whole chart at once. If you can't see
>the whole chart, chose Medium or Small.
>
>And choose Store Settings.
>
>You can print from three locations: File/Print, Print from your upper
>status line, and Print Charts on the bottom right of the chart page. If
>you're not familiar with File/Print/Print Prevue do so. You get
>slightly different data when printing from Print in your status line
>and File/Print than you do from Print Charts.
>
>In the past I have had trouble with Print Charts after printing three or
>four pages; I no longer use it.
>
>I print out every chart [4-6] because I know of no way to include two or
>more lower charts on a single page.
>
>Connie Mack
>
>
>-
>
>
>
Tim Fisher, 1995 President, Pacific Fishery Biologists
Ore-ROCK-On Rockhounding Web Site
PFB Information
mailto:tim@orerockon.com
WWW http://OreRockOn.com
- -
------------------------------
End of canslim-digest V2 #219
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