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- From: owner-canslim-digest@lists.xmission.com (canslim-digest)
- To: canslim-digest@lists.xmission.com
- Subject: canslim-digest V2 #430
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-
- canslim-digest Tuesday, November 3 1998 Volume 02 : Number 430
-
-
-
- In this issue:
-
- [CANSLIM] Breakouts/ When to buy/ 4 entry points to be aware of
- [CANSLIM] Breakouts/When to buy/Entry points to be aware of #2
- RE: [CANSLIM] Re: canslim-digest V2 #427
- [CANSLIM] An Alternate Angle on Group Strength
- [CANSLIM] Breakouts/When to buy/4 main entry points to be aware of #3
- RE: [CANSLIM] Re: canslim-digest V2 #427
- RE: [CANSLIM] Re: canslim-digest V2 #427
- RE: [CANSLIM] An Alternate Angle on Group Strength
- RE: [CANSLIM] Breakouts
- RE: [CANSLIM] Re: canslim-digest V2 #427
- [CANSLIM] QPv2
- RE: [CANSLIM] An Alternate Angle on Group Strength
- RE: [CANSLIM] QPv2
- Re: [CANSLIM] QPv2
- [CANSLIM] A Classic
- RE: [CANSLIM] QPv2
- RE: [CANSLIM] QPv2
- Re: [CANSLIM] QPv2 / Composites
- [CANSLIM] AMGN, ESRX, SUNW
- Re: [CANSLIM] New technology and my new e-mail address
- Re: [CANSLIM] New technology and my new e-mail address
- Re: [CANSLIM] An Alternate Angle on Group Strength
- RE: [CANSLIM] An Alternate Angle on Group Strength
- RE: [CANSLIM] An Alternate Angle on Group Strength
- Re [CANSLIM] An Alternate Angle to Group Strength
- [CANSLIM] Marder
- [CANSLIM] Another example of mediots
-
- ----------------------------------------------------------------------
-
- Date: Tue, 03 Nov 1998 13:24:12 -0800
- From: Harlan <purpose@execpc.com>
- Subject: [CANSLIM] Breakouts/ When to buy/ 4 entry points to be aware of
-
- 1. The initial breakout of a base
-
- Rule of thumb: Bigger the base bigger the break
-
- Stocks breaking into a new high for the 1st time on strong Vol.
- after a consolidation/correction
-
- Recent examples:
- YHOO on 9-22-98
- ALSI on 10-20-98
- CSGS on 10-20-98
- ADSC on 10-20-98 although this issue spent no time on the right hand
- side
- of a cup if you will
-
- This is going to be the starting gate for everthing we do going forward
-
- Note: This is the only place where O'niel's 7% rule applies
-
- The following are issues with different degrees of bases intact that
- have yet to break out, some are further along than others
-
- MYL- breaks out at 35ish
- NOKA- big cup in place, broke into new high, stalling (this was expected
- considering it spent no time on the rt. side of cup) may go sideways a
- tad longer, would consider on a follow thru to new highs
- WCOM- Big cup, double bottom, could use a little chart time right here,
- watch for follow thru over 56.00
- BRCM- huge double bottom,could use some chart time right here , watch
- for follow thru. Has been trading off of 10 day ave.
- RNWK- huge double bottom, need to bust thru 41. Great numbers, great
- concept.
- COLTY-Huge cup, double bottom, needs chart time, no time spent on right
- hand side. Watch for follow thru after a few days
- ELNK- huge base, needs time breakout is 46ish.
- MRCY- good looking cup developing here, newer issue not over explioted
- yet.
- RCGI-breaks out of a cup at 30ish, could go at anytime
- SEGU- breaks out at 19.5ish, did it yesterday and trying to follow thru
- today
- TWX- huge cup now in place, watch for follow thru
-
- current prices as of post
- MYL-33.625
- NOKA-91.125
- WCOM-55.375
- BRCM-81.375
- RNWK-37.375
- COLTY-51.50
- ELNK- 42.00
- MRCY-17.125
- RCGI-28.8125
- SEGU-20.125
- TWX-95.6875
-
- Stay tuned this is just the 1st installment of a few posts
-
- Strictly for informational purposes.
-
- Harlan
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 13:25:54 -0800
- From: Harlan <purpose@execpc.com>
- Subject: [CANSLIM] Breakouts/When to buy/Entry points to be aware of #2
-
- Once an issue breaks out of a legitimate base and runs for a few days
- typically a few things tend to happen.
-
- A. They breakout, run and never really pullback. These issues tend to
- trade off of the 10day ave. for awhile.
-
- In all reality these are your stongest issues. If buying them remember
- these are the strongest and the RISKIEST. By buying these issues your
- saying your a trader. By buying off of this list understand that short
- term they could run out of steam at any moment. Not for the faint at
- heart. For simplicity sake use the 10day moving ave. as a trailing stop.
- These are the true momentum/movers and shakers. Lets face it theres a
- lot of short term emotional money in these stocks and at any hint of
- something wrong beit the mkt. or whatever they sell these issues off
- faster than you can shake a stick. Thats ok as long as long as they dont
- violate the 10day ave. on a closing basis. Also be aware that the longer
- they run above the 10day the more risk of breaking it becomes. heck
- could happen the same day. Remember you have no control except when to
- sell.
-
- The way to stay focused and not get emotional with these issues is to be
- a. unattached from the outcome
- b. Rigid use of the 10day ave as a trailing stop.
-
- The following is a list of names that have recently gone where noone has
- ever gone before that tend to trade off of the 10 day ave. with the
- 10day mentioned and where the stock currently is.
-
- CSGS- 10 day at 55.25 stock at 57.125
- ALSI- 10 day at 44.25 stock at 48.625
- CTSH- 10 day at 20.625 stock at 22.625
- NCOG- 10 day at 31.50 stock at 32.875
- GMSTF-10 day at 52.31 stock at 57.00
- BRCM- 10 day at 78.25 stock at 81.375
- AOL- 10 day at 122.75 stock at 133.75 big double bottom
- YHOO- 10 day at 129.25 stock at a whopping 142.5, could come back to 135
- AMZN- 10 day at 120.90 stock at 129.625, big base being built here.
- NOKA- 10 day at 88.375 stock at 91.00
- TWX- 10 day at 92.50 stock at 95.50
- Index's
- INX- 10 day at 219.64 index at 233.07
- IIX- 10 day at 387.65 index at 405.97 looks like AMZN,AOL,YHOO
- GIN- 10 day at 168.31 index at 180.86
-
- and
- ADSC- 10day at 20.54 stock at 22.00
- POWI- 10day at 15.875 stock at 16.50
-
- and numerous more but not the time to mention.
- Stay tuned for the next installment
- For informational purposes only
-
- Harlan
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 11:41:24 -0800 (PST)
- From: dbphoenix <dbphoenix@yahoo.com>
- Subject: RE: [CANSLIM] Re: canslim-digest V2 #427
-
- <<What I'm interesed in is a program that could simply take a list of
- stocks
- that makeup a group surrogate, access the QP2 database (an end-of-day
- quote
- service), form an index for the surrogate (probably equal dollar
- weighted),
- and output the results in Metastock format (so more analysis can be
- done in
- Metastock or whatever).>>
-
- In other words, QP2 can't create a group composite?
-
- - --Db
-
-
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 11:59:04 -0800 (PST)
- From: dbphoenix <dbphoenix@yahoo.com>
- Subject: [CANSLIM] An Alternate Angle on Group Strength
-
- Another way of looking at group strength is to track moving averages.
- The following groups are characterized by (1) the 17d SMA crossing
- upward through the 50d SMA within the past week (you can use the EMAs
- instead, but in a market this volatile, they can give too many
- too-preliminary signals) and (2) the 50d EMA beginning to curl upward
- (here I use the EMA rather than the SMA because I want a quicker
- signal; it's not quite so aggressive since it's acting primarily as
- confirmation).
-
- These are relatively conservative signals, more conservative than
- buying on a cross-through of shorter-term MAs through the 17d, but
- more aggressive than waiting for the 50d to cross upward through the
- 200d (assuming it's below the 200d to begin with). Given the number
- of Ws, Funnels With Handles (a pattern I've been noticing a lot of and
- have laid claim to), rectangular bases, and reverse H&S patterns we're
- finding, using these indicators of strength can help prevent the
- prudent investor from jumping in too quickly.
-
- Some of these are whole groups if they're small enough. Others are
- surrogates. In either case, the same indications of strength that one
- would look for in an individual stock chart can also be applied to the
- group chart. SW-Enterprise, for example, is just coming out of a W,
- and one of the stocks within it, PRGS, seems to be working on an
- ascending triangle. The fact that the group is showing strength makes
- PRGS that much more attractive in terms of pattern, even though the
- patterns of the two charts are not the same. What matters is the
- indication of strength, not the particulars of how that strength is
- being shown.
-
- Aero/Def Equip
-
- COMML SVCS
- Business Svcs
- Coml Svcs Misc
- Schools
-
- COMPUTERS
- Integrated Systems
- Local Networks
- Memory Devices
- Mini-Micro
- Sftwre-Desktop
- Sftwre-Enterprise
- Sftwre-Medl
-
- ELECTRONICS
- Instr Scientific
- Measuring Instruments
- Misc Products
- Parts Distrib
- Semi Equip
-
- ELECTRICAL
- Control Instruments
- Equipment
-
- LEISURE
- Leisure Prods
- Toys/Games/Hobbies
-
- MEDIA
- Cable TV
-
- MEDICAL
- Drugs-Divers
- Drugs-Ethical
- Nursing Homes
- Medl/Dntl Sup
-
- OFFICE
- Office Equip
-
- OIL & GAS
- Drilling
- Field Service
- Machinery/Equip
- Refining/Mktng
-
- RETAIL
- Disc&Variety
- Major Disc Chains
- Misc Retail
- Restaurants
- Super/Mini Mkts
- Whlsle-Bldg Prods
-
- TELECOM
- Cellular
- Telecom Equip
- Telecom Svcs
-
- TRANSPORTATION
- Air Freight
- Equip Mfg
- Services
-
- Of these, the following are within 15% of a new high:
-
- COMPUTERS
- Sftwre-Enterprise: Note GEOC, PRGS
- Sftwre-Internet (17d XO 50d a little more than a week ago; 50d just
- began to curl): Note ELNK
-
- MEDICAL
- Drugs-Divers: Note AHP
- Medl/Dntl Sup: Note BDX; Also PDCO, which may be offering a second
- chance today.
-
- Hope someone finds this useful.
-
- - --Db
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 14:08:44 -0800
- From: Harlan <purpose@execpc.com>
- Subject: [CANSLIM] Breakouts/When to buy/4 main entry points to be aware of #3
-
- Once an issue breaks out of a legitimate base and runs for a few days
- typically a few things tend to happen.
-
- B.They break out run for a few days then MARKTIME for awhile.
- They start to look like theyre forming a flag when viewing a chart.
- After they marktime they tend to take off again. Its at this
- juncture that you can do one of two things. Wait for the follow thru/
- resume its advance to buy, or after its been sitting for a few days
- buy it with a
- trailing stop of either X% or a particular moving ave. The trick
- here is to leave enough room to allow for normal fluctuations without
- having
- to get shooken out of the stock only to see it take off again
- without you.
-
- Note: You always want the strongest issues possible, in reality you dont
- want them to pullback. By not pulling back thats actually telling you
- something dont you think?
-
- Recent examples of issues that have marked time and have followed thru
- are:
- GBLX- doing it today
- ADSC- initially broke out at 20ish ran, marked time and took off again.
- just to name a few.
-
- Issues that are currently marking time so to speak are:
-
- CTSH currently 22.75
- POWI currently at 16.50 on huge vol.
- FLEX- sitting on top of base currently at 50
- MACR-just starting to marktime currently at 23.50
- MVSN- sitting on top of base currently at 33.875
- MEDI-sitting on top of the base currently at 67.875
- NCOG-sitting on top of the base/marking time currently at 33
- NSOL- energizer bunny here, needs to stall then start to marktime or
- pullback currently at 67.00
-
- Stay tuned for the next installment
- strictly for informational purposes
-
- Harlan
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 12:16:03 -0800
- From: "Joe Barger" <barger@aero.org>
- Subject: RE: [CANSLIM] Re: canslim-digest V2 #427
-
- In a word, no. QP2 is primarily an end-of-day quote service that includes a
- fairly powerful, fast scan capability and basic charting functions for a
- reasonable price. More extensive system testing, charting, etc. are left
- (for the moment at least) to other programs. The primary reasons I use QP2
- are the price, quality of data, responsiveness of the technical support, and
- continuous product improvement.
-
- joe
-
-
-
- > -----Original Message-----
- > From: owner-canslim@lists.xmission.com
- > [mailto:owner-canslim@lists.xmission.com]On Behalf Of dbphoenix
- > Sent: Tuesday, November 03, 1998 11:41 AM
- > To: canslim@lists.xmission.com
- > Subject: RE: [CANSLIM] Re: canslim-digest V2 #427
- >
- >
- >
- > <<What I'm interesed in is a program that could simply take a list of
- > stocks
- > that makeup a group surrogate, access the QP2 database (an end-of-day
- > quote
- > service), form an index for the surrogate (probably equal dollar
- > weighted),
- > and output the results in Metastock format (so more analysis can be
- > done in
- > Metastock or whatever).>>
- >
- > In other words, QP2 can't create a group composite?
- >
- > --Db
- >
- >
- >
- >
- > _________________________________________________________
- > DO YOU YAHOO!?
- > Get your free @yahoo.com address at http://mail.yahoo.com
- >
- >
- > -
- >
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 12:26:59 -0800
- From: mikelu <mikelu@foxinternet.net>
- Subject: RE: [CANSLIM] Re: canslim-digest V2 #427
-
- I haven't started to use the group stuff in QP2, so I took a look. It looks
- like you can display IRL groups, and load the stocks in a group into their
- own list, but you can't make your own composite from a list.
-
- Who's using IRL and what do you say about it? Is it totally TA or can you
- screen out stocks fundamentally? Can it restrict the stocks by average
- daily volume?
-
- Thanks,
-
- Mike
-
- - -----Original Message-----
- From: dbphoenix [SMTP:dbphoenix@yahoo.com]
- Sent: Tuesday, November 03, 1998 11:41 AM
- To: canslim@lists.xmission.com
- Subject: RE: [CANSLIM] Re: canslim-digest V2 #427
-
-
- <<What I'm interesed in is a program that could simply take a list of
- stocks
- that makeup a group surrogate, access the QP2 database (an end-of-day
- quote
- service), form an index for the surrogate (probably equal dollar
- weighted),
- and output the results in Metastock format (so more analysis can be
- done in
- Metastock or whatever).>>
-
- In other words, QP2 can't create a group composite?
-
- - --Db
-
-
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 12:24:06 -0800
- From: "Joe Barger" <barger@aero.org>
- Subject: RE: [CANSLIM] An Alternate Angle on Group Strength
-
- > Given the number
- > of Ws, Funnels With Handles (a pattern I've been noticing a lot of and
- > have laid claim to)...
-
- Care to spam your FWH insight from Ian's roundtable? Members of the list
- that don't follow Ian may find it interesting (at least I did) and have some
- comments.
-
- joe
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 12:35:29 -0800
- From: mikelu <mikelu@foxinternet.net>
- Subject: RE: [CANSLIM] Breakouts
-
- If you go back to July, the highest close was 32.25. I think you'd want to buy at the most 5-7% above that. 34 is only 5.4% above that.
-
- Mike
-
- - -----Original Message-----
- From: David S. Pinhasik [SMTP:dsap@shani.net]
- Sent: Tuesday, November 03, 1998 4:53 AM
- To: canslim@lists.xmission.com
- Subject: Re: [CANSLIM] Breakouts
-
- CBXC - According to the 2 month graph, I would guess the pivot to be 27 or
- 28 after somewhat of a cup. Adding 10% would give around 30. Do you think 34
- is too extended already to get in now?
-
- David
- - -----Original Message-----
- From: Peter D. Christiansen <peterc@loxinfo.co.th>
- To: canslim@lists.xmission.com <canslim@lists.xmission.com>
- Date: eai uieue 03 ?aaiao 1998 12:20
- Subject: [CANSLIM] Breakouts
-
-
- >The following stocks from my watch list broke out on good volume
- >Monday..
- >
- >CBXC
- >CHTT
- >PLT
- >SWC
- >
- >I bought CBXC. Of my recent buys, MACR is up 22% in two days. SEIC is
- >even. CBXC is slightly in the black.
- >
- >--
- >Peter Christiansen
- >Chiang Mai - Thailand
- >peterc@loxinfo.co.th
- >
- >
- >
- >
- >
- >-
- >
- >
-
-
- - -
-
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 12:57:40 -0800
- From: "Joe Barger" <barger@aero.org>
- Subject: RE: [CANSLIM] Re: canslim-digest V2 #427
-
- >
- > Who's using IRL and what do you say about it? Is it totally TA or can you
- > screen out stocks fundamentally? Can it restrict the stocks by average
- > daily volume?
- >
-
- I use IRL to form my surrogates. It does have the capability to screen on
- limited fundamental data and ADV. The problem (for me) is the fundamental
- data can get old unless you pay the high price of updating each quarter.
- The method I use is to build a list of stocks in a group, scan the list
- using whatever criteria suit your fancy (ADV, MKTCAP, Price, etc.) in QP2.
- The resulting list can then be further refined by looking at the charts and
- deleting broken stocks using whatever criteria you deam appropriate. This
- final list is then used to generate a metastock directory of the surviving
- stocks. Then I use IRL to build the actual surrogate. IRL also has some
- charting and ranking capabilities that may (or may not) be useful to you.
- Sounds complicated, but the worst part is simply generating the lists of
- stocks in each group.
-
- The IRL group data that QP2 supplies are, of course, not surrogates and are
- IRL's opinion of what constitutes a group. I prefer the IBD group
- definitions, simply because most CANSLIMers and HGSers use them.
-
- joe
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 21:20:23 +0100
- From: Johan Van Houtven <click@ping.be>
- Subject: [CANSLIM] QPv2
-
- >In other words, QP2 can't create a group composite?
- >
- >--Db
-
- You can generate all the composite data with the QPv2 scanning program, but
- you can't chart this generated data in the separate QPv2 charting program.
- You could use the generated data and make a chart in Excel.
-
- The charting program only reads the stocks and indices it knows, you can't
- create your own. In other words the charting part of QPv2 is basic. It has
- the following technical indicators:
-
- ADX, PDM, and MDM
- CCI - Standard
- Chaikin 21 Money Flow Oscillator
- Chaikin Money Flow Line
- Moving Average Convergence Divergence (MACD) indicator
- Moving averages: simple, weighted, and exponential
- On Balance Volume - OBV
- QRS (Quote Plus Relative Strength Line)
- Relative Strength Indicator (RSI)
- Rate of Change - ROC
- Stochastics indicators
-
- Which is quite reasonable for most peoples charting needs, I assume.
-
- Another thing the charting program lacks is the ability to 'zoom' in and
- out and it doesn't allow you to have futures dates on the right hand side
- of the chart (in order to project trendlines etc).
-
- Quotes Plus is teaming up with IRL, so the surrogate/composite problem will
- be solved that way, I understand. But that doesn't solve the basic
- charting. For that you would need MetaStock. Problem is that MetaStock
- doesn't read the native QPv2 data format. And Equis will almost certainly
- keep it that way. QPv2 has 2 solutions if you want to use MetaStock. 1) Use
- the Virtual FileSystem. Alas I hear that this solution is slow. 2) You can
- convert QPv2 data to MetaStock format. But this converting process takes time.
-
-
-
-
-
- Johan
-
-
-
-
-
-
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 13:13:37 -0800 (PST)
- From: dbphoenix <dbphoenix@yahoo.com>
- Subject: RE: [CANSLIM] An Alternate Angle on Group Strength
-
- <<Care to spam your FWH insight from Ian's roundtable? Members of the
- list
- that don't follow Ian may find it interesting (at least I did) and
- have some
- comments.
-
- joe>>
-
- Ha! I don't know that I'd call it insight. More than brain-coma from
- looking at too many charts. But what caused me to begin thinking
- about it and watching it more closely was that I had been waiting for
- so many retests that never came. I don't remember noticing so many in
- 1990. Which doesn't mean they weren't there. Just that I wasn't
- looking for them and so didn't notice them. But then I wasn't exactly
- a charting sophisticate in 1990 (which isn't to say I'm a charting
- sophisticate now, either). And I'm too lazy to go look now.
-
- Anyway, here's what I wrote:
-
- <<I've decided that I'm going to create a new chart pattern. When you
- see or hear references to it in the future, remember that you heard it
- here first.
-
- I'm referring, of course, to the FWH, or Funnel With Handle. LU is a
- prime example. As are LLTC and SMTC. The stock moseys along in a base
- of some sort, minding its own business, when WHAMMO! it gets knocked
- down the stairs. But then it rebounds off a V bottom, makes a pitiful
- attempt at a new base of anywhere from a few days to a week or two,
- then BLAM! there she goes off again.
-
- I'm seeing more and more of these every day. They're too quick and
- angular for cups (and don't fit the c&h volume pattern even if they
- weren't) and they don't double-bottom (most have only that one sharp
- downturn out of the base). I'm also seeing loads of Ws, and if anybody
- ever wondered what a reverse h&s looks like, they're littering the
- landscape like cigarette butts. Flat bases? Yeah, right. Cups and
- handles and rectangular bases? A few. But not nearly enough. So it's
- the FWH for me.
-
- Feel free to refer it whenever you like, but do remember--it's Db's
- FWH. Move over, Chaikin.
-
- - --Db :)>>
-
- It may very well be that during highly volatile times, the ordinary
- cup often doesn't have time to form. So you get a hybrid between the
- V bottom and the cup-and-handle. To my mind it's different enough
- from each to become its own pattern. In any case, with the market
- giving bullish signals and the groups giving bullish signals, I think
- it's not only overly conservative but probably short-sighted to wait
- for the kinds of base lengths and retests we've come to expect. Even
- O'N has abbreviated the base lengths he looks for.
-
- Food for thought, anyway.
-
- - --Db
-
-
-
-
-
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 13:23:20 -0800
- From: mikelu <mikelu@foxinternet.net>
- Subject: RE: [CANSLIM] QPv2
-
- Using QP Virtual only seems to add another second onto the time to load a chart. (Using a Pentium II 266, anyway.)
-
- Mike
-
- - -----Original Message-----
- From: Johan Van Houtven [SMTP:click@ping.be]
- Sent: Tuesday, November 03, 1998 12:20 PM
- To: canslim@lists.xmission.com
- Subject: [CANSLIM] QPv2
-
- >In other words, QP2 can't create a group composite?
- >
- >--Db
-
- You can generate all the composite data with the QPv2 scanning program, but
- you can't chart this generated data in the separate QPv2 charting program.
- You could use the generated data and make a chart in Excel.
-
- The charting program only reads the stocks and indices it knows, you can't
- create your own. In other words the charting part of QPv2 is basic. It has
- the following technical indicators:
-
- ADX, PDM, and MDM
- CCI - Standard
- Chaikin 21 Money Flow Oscillator
- Chaikin Money Flow Line
- Moving Average Convergence Divergence (MACD) indicator
- Moving averages: simple, weighted, and exponential
- On Balance Volume - OBV
- QRS (Quote Plus Relative Strength Line)
- Relative Strength Indicator (RSI)
- Rate of Change - ROC
- Stochastics indicators
-
- Which is quite reasonable for most peoples charting needs, I assume.
-
- Another thing the charting program lacks is the ability to 'zoom' in and
- out and it doesn't allow you to have futures dates on the right hand side
- of the chart (in order to project trendlines etc).
-
- Quotes Plus is teaming up with IRL, so the surrogate/composite problem will
- be solved that way, I understand. But that doesn't solve the basic
- charting. For that you would need MetaStock. Problem is that MetaStock
- doesn't read the native QPv2 data format. And Equis will almost certainly
- keep it that way. QPv2 has 2 solutions if you want to use MetaStock. 1) Use
- the Virtual FileSystem. Alas I hear that this solution is slow. 2) You can
- convert QPv2 data to MetaStock format. But this converting process takes time.
-
-
-
-
-
- Johan
-
-
-
-
-
-
-
-
- - -
-
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 13:23:05 -0800 (PST)
- From: dbphoenix <dbphoenix@yahoo.com>
- Subject: Re: [CANSLIM] QPv2
-
- <<Another thing the charting program lacks is the ability to 'zoom' in
- and
- out and it doesn't allow you to have futures dates on the right hand
- side
- of the chart (in order to project trendlines etc).
-
- Quotes Plus is teaming up with IRL, so the surrogate/composite problem
- will
- be solved that way, I understand. But that doesn't solve the basic
- charting. For that you would need MetaStock. Problem is that MetaStock
- doesn't read the native QPv2 data format. And Equis will almost
- certainly
- keep it that way. QPv2 has 2 solutions if you want to use MetaStock.
- 1) Use
- the Virtual FileSystem. Alas I hear that this solution is slow. 2) You
- can
- convert QPv2 data to MetaStock format. But this converting process takes
- time.>>
-
- Sounds like if they were to add the first two items on your list and
- include the user-defined composite charting capability, they'd have
- it. The indicators you listed are certainly enough.
-
- But you don't need Metastock. WOWS can do all this, and the Deluxe
- version is only around $140. I don't mean WOWS performs all the IRL
- functions, but it does what QP2 does plus the functions you mentioned
- that QP2 doesn't. So that's an alternative for anybody who wants to
- get into the group work and doesn't or can't use IRL.
-
- - --Db
-
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 16:02:20 -0600 (CST)
- From: mckeener@ix.netcom.com
- Subject: [CANSLIM] A Classic
-
- Db,
-
- Very good, in fact, it's perfect. Thanks
-
- Mary
-
-
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 14:30:47 -0800
- From: "Joe Barger" <barger@aero.org>
- Subject: RE: [CANSLIM] QPv2
-
- >
- > >In other words, QP2 can't create a group composite?
- > >
- > >--Db
- >
- > You can generate all the composite data with the QPv2 scanning
- > program, but
- > you can't chart this generated data in the separate QPv2 charting program.
- > You could use the generated data and make a chart in Excel.
- >
-
- Maybe I'm missing something here. How do you create a composite in the
- scanning program? I know of no way to work on multiple stocks
- simultaneously in QP2 scanning.
-
- joe
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 14:35:46 -0800
- From: "Joe Barger" <barger@aero.org>
- Subject: RE: [CANSLIM] QPv2
-
- >
- > Using QP Virtual only seems to add another second onto the time
- > to load a chart. (Using a Pentium II 266, anyway.)
- >
- > Mike
- >
-
- Loading a single chart isn't the problem. It's (apparently) the repeated
- access to multiple securities that slows down the process of building the
- surrogates.
-
- joe
-
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 18:44:24 -0500
- From: "Barry Marx" <bmarx@pobox.com>
- Subject: Re: [CANSLIM] QPv2 / Composites
-
- I had some success creating a group composite with QPv2 data along with a
- shareware program I downloaded named Fund Manager 3.4. There may be other
- programs that would do just as well.
-
- Fund Manager is primarily designed to be a portfolio manager, but it allows
- you create a graph of the portfolio's performance, and you could create
- portfolios containing the stocks for each desired group. It has no TA
- indicators for these, however, just a simple chart. Another downside is
- that it took a little work to manipulate the output of the QP scan into a
- format that was acceptable to the program. Might be more work than most are
- willing to do, but the process could probably be automated quite a bit.
-
-
- Barry
-
-
- - -----Original Message-----
- From: Joe Barger <barger@aero.org>
- To: canslim@lists.xmission.com <canslim@lists.xmission.com>
- Date: Tuesday, November 03, 1998 5:38 PM
- Subject: RE: [CANSLIM] QPv2
-
-
- >
- >
- >
- >>
- >> >In other words, QP2 can't create a group composite?
- >> >
- >> >--Db
- >>
- >> You can generate all the composite data with the QPv2 scanning
- >> program, but
- >> you can't chart this generated data in the separate QPv2 charting
- program.
- >> You could use the generated data and make a chart in Excel.
- >>
- >
- >Maybe I'm missing something here. How do you create a composite in the
- >scanning program? I know of no way to work on multiple stocks
- >simultaneously in QP2 scanning.
- >
- >joe
- >
- >
- >-
- >
- >
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 19:48:30 -0500
- From: "Zoran Mitrovski" <mitrovski@att.net>
- Subject: [CANSLIM] AMGN, ESRX, SUNW
-
- AMGN (87 95 A A A) just broke out to a new high off of an ascending triangle
- base
- and above its resistance at 80. Probably will get in tomorrow after I check its
- numbers
- better tonight.
-
- Caught ESRX (95 98 A A B) and SUNW (94 96 A A B) when they reached new highs
- above their long-term bases (sort of a Darvas-box thing, too) within the last
- couple of weeks
- or so. Sorry I missed CTL (87 97 A A A) and WAT (96 97 A A B) but CTL appears
- to be coming back to me on nicely decreasing volume. I may pick some up below
- 54-55 if it behaves nicely. How are you full-time-working-folks dealing with
- missed
- opportunities? Me, badly.
-
- Zoran
- mitrovski@att.net
-
-
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 20:03:34 -0500
- From: "Frank V. Wolynski" <Wolynski@MindSpring.Com>
- Subject: Re: [CANSLIM] New technology and my new e-mail address
-
- Exciting stuff Walter.
- I must admit, I'm envious! I've been tempted by the Roadrunner service from
- Time Warner that's available in my area. Really tempted. Got a teenager and
- wife who hog the phone and in my business I would still have to have the
- second line however. So I couldn't save with the service.
-
- Assuming you got Trading Expert from AIQ. Did you get the EDS option?
-
- Regards,
- Frank Wolynski
-
- At 00:06 11/3/98 -0500, Walter Stock wrote:
- >Have just completed a major overhaul of my trading system with a new
- >computer,
- >new trading software (AIQ), and a new cable-modem.
- >
- >Yes the modem is very fast, I can now read Db's e-mail before he
- >finishes writing it,
- >sometimes before he even finishes thinking it (Cisco virtual cable
- >modem brain stealth implant technology). Bigcharts load instantly, no
- >agonizing waits for molasses-in-winter screen fills.
- >
- >If cable service is available in your area, I would recommend you take
- >in a demo.
- >Cost is not that much more than before since I am now able to dump the
- >second
- >phone line, and use existing cable service. The other cost savings is
- >in time spent downloading when I flip through charts.
- >
- >My new e-mail address is: wstock@cgocable.net
- >
- >Walter Stock
- >Oakville, ON
- >Canada
- >
- >
- >
- >-
- >
- >
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 20:03:34 -0500
- From: "Frank V. Wolynski" <Wolynski@MindSpring.Com>
- Subject: Re: [CANSLIM] New technology and my new e-mail address
-
- Exciting stuff Walter.
- I must admit, I'm envious! I've been tempted by the Roadrunner service from
- Time Warner that's available in my area. Really tempted. Got a teenager and
- wife who hog the phone and in my business I would still have to have the
- second line however. So I couldn't save with the service.
-
- Assuming you got Trading Expert from AIQ. Did you get the EDS option?
-
- Regards,
- Frank Wolynski
-
- At 00:06 11/3/98 -0500, Walter Stock wrote:
- >Have just completed a major overhaul of my trading system with a new
- >computer,
- >new trading software (AIQ), and a new cable-modem.
- >
- >Yes the modem is very fast, I can now read Db's e-mail before he
- >finishes writing it,
- >sometimes before he even finishes thinking it (Cisco virtual cable
- >modem brain stealth implant technology). Bigcharts load instantly, no
- >agonizing waits for molasses-in-winter screen fills.
- >
- >If cable service is available in your area, I would recommend you take
- >in a demo.
- >Cost is not that much more than before since I am now able to dump the
- >second
- >phone line, and use existing cable service. The other cost savings is
- >in time spent downloading when I flip through charts.
- >
- >My new e-mail address is: wstock@cgocable.net
- >
- >Walter Stock
- >Oakville, ON
- >Canada
- >
- >
- >
- >-
- >
- >
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 20:11:22 -0500
- From: "Frank V. Wolynski" <Wolynski@MindSpring.Com>
- Subject: Re: [CANSLIM] An Alternate Angle on Group Strength
-
- Great post DB, what's a funnel with handle?
-
- Frank Wolynski
-
- At 11:59 11/3/98 -0800, you wrote:
- >
- >Another way of looking at group strength is to track moving averages.
- >The following groups are characterized by (1) the 17d SMA crossing
- >upward through the 50d SMA within the past week (you can use the EMAs
- >instead, but in a market this volatile, they can give too many
- >too-preliminary signals) and (2) the 50d EMA beginning to curl upward
- >(here I use the EMA rather than the SMA because I want a quicker
- >signal; it's not quite so aggressive since it's acting primarily as
- >confirmation).
- >
- >These are relatively conservative signals, more conservative than
- >buying on a cross-through of shorter-term MAs through the 17d, but
- >more aggressive than waiting for the 50d to cross upward through the
- >200d (assuming it's below the 200d to begin with). Given the number
- >of Ws, Funnels With Handles (a pattern I've been noticing a lot of and
- >have laid claim to), rectangular bases, and reverse H&S patterns we're
- >finding, using these indicators of strength can help prevent the
- >prudent investor from jumping in too quickly.
- >
- >Some of these are whole groups if they're small enough. Others are
- >surrogates. In either case, the same indications of strength that one
- >would look for in an individual stock chart can also be applied to the
- >group chart. SW-Enterprise, for example, is just coming out of a W,
- >and one of the stocks within it, PRGS, seems to be working on an
- >ascending triangle. The fact that the group is showing strength makes
- >PRGS that much more attractive in terms of pattern, even though the
- >patterns of the two charts are not the same. What matters is the
- >indication of strength, not the particulars of how that strength is
- >being shown.
- >
- >Aero/Def Equip
- >
- >COMML SVCS
- >Business Svcs
- >Coml Svcs Misc
- >Schools
- >
- >COMPUTERS
- >Integrated Systems
- >Local Networks
- >Memory Devices
- >Mini-Micro
- >Sftwre-Desktop
- >Sftwre-Enterprise
- >Sftwre-Medl
- >
- >ELECTRONICS
- >Instr Scientific
- >Measuring Instruments
- >Misc Products
- >Parts Distrib
- >Semi Equip
- >
- >ELECTRICAL
- >Control Instruments
- >Equipment
- >
- >LEISURE
- >Leisure Prods
- >Toys/Games/Hobbies
- >
- >MEDIA
- >Cable TV
- >
- >MEDICAL
- >Drugs-Divers
- >Drugs-Ethical
- >Nursing Homes
- >Medl/Dntl Sup
- >
- >OFFICE
- >Office Equip
- >
- >OIL & GAS
- >Drilling
- >Field Service
- >Machinery/Equip
- >Refining/Mktng
- >
- >RETAIL
- >Disc&Variety
- >Major Disc Chains
- >Misc Retail
- >Restaurants
- >Super/Mini Mkts
- >Whlsle-Bldg Prods
- >
- >TELECOM
- >Cellular
- >Telecom Equip
- >Telecom Svcs
- >
- >TRANSPORTATION
- >Air Freight
- >Equip Mfg
- >Services
- >
- >Of these, the following are within 15% of a new high:
- >
- >COMPUTERS
- >Sftwre-Enterprise: Note GEOC, PRGS
- >Sftwre-Internet (17d XO 50d a little more than a week ago; 50d just
- >began to curl): Note ELNK
- >
- >MEDICAL
- >Drugs-Divers: Note AHP
- >Medl/Dntl Sup: Note BDX; Also PDCO, which may be offering a second
- >chance today.
- >
- >Hope someone finds this useful.
- >
- >--Db
- >
- >
- >_________________________________________________________
- >DO YOU YAHOO!?
- >Get your free @yahoo.com address at http://mail.yahoo.com
- >
- >
- >-
- >
- >
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 20:16:18 -0500
- From: "Frank V. Wolynski" <Wolynski@MindSpring.Com>
- Subject: RE: [CANSLIM] An Alternate Angle on Group Strength
-
- Should have read all the posts prior to asking you to explain what a FWH was.
- Good explanation, I thought so from your description.
-
- Thanks,
-
- Frank Wolynski
-
- At 13:13 11/3/98 -0800, dbphoenix wrote:
- >
- >
- ><<Care to spam your FWH insight from Ian's roundtable? Members of the
- >list
- >that don't follow Ian may find it interesting (at least I did) and
- >have some
- >comments.
- >
- >joe>>
- >
- >Ha! I don't know that I'd call it insight. More than brain-coma from
- >looking at too many charts. But what caused me to begin thinking
- >about it and watching it more closely was that I had been waiting for
- >so many retests that never came. I don't remember noticing so many in
- >1990. Which doesn't mean they weren't there. Just that I wasn't
- >looking for them and so didn't notice them. But then I wasn't exactly
- >a charting sophisticate in 1990 (which isn't to say I'm a charting
- >sophisticate now, either). And I'm too lazy to go look now.
- >
- >Anyway, here's what I wrote:
- >
- ><<I've decided that I'm going to create a new chart pattern. When you
- >see or hear references to it in the future, remember that you heard it
- >here first.
- >
- >I'm referring, of course, to the FWH, or Funnel With Handle. LU is a
- >prime example. As are LLTC and SMTC. The stock moseys along in a base
- >of some sort, minding its own business, when WHAMMO! it gets knocked
- >down the stairs. But then it rebounds off a V bottom, makes a pitiful
- >attempt at a new base of anywhere from a few days to a week or two,
- >then BLAM! there she goes off again.
- >
- >I'm seeing more and more of these every day. They're too quick and
- >angular for cups (and don't fit the c&h volume pattern even if they
- >weren't) and they don't double-bottom (most have only that one sharp
- >downturn out of the base). I'm also seeing loads of Ws, and if anybody
- >ever wondered what a reverse h&s looks like, they're littering the
- >landscape like cigarette butts. Flat bases? Yeah, right. Cups and
- >handles and rectangular bases? A few. But not nearly enough. So it's
- >the FWH for me.
- >
- >Feel free to refer it whenever you like, but do remember--it's Db's
- >FWH. Move over, Chaikin.
- >
- >--Db :)>>
- >
- >It may very well be that during highly volatile times, the ordinary
- >cup often doesn't have time to form. So you get a hybrid between the
- >V bottom and the cup-and-handle. To my mind it's different enough
- >from each to become its own pattern. In any case, with the market
- >giving bullish signals and the groups giving bullish signals, I think
- >it's not only overly conservative but probably short-sighted to wait
- >for the kinds of base lengths and retests we've come to expect. Even
- >O'N has abbreviated the base lengths he looks for.
- >
- >Food for thought, anyway.
- >
- >--Db
- >
- >
- >
- >
- >
- >
- >
- >_________________________________________________________
- >DO YOU YAHOO!?
- >Get your free @yahoo.com address at http://mail.yahoo.com
- >
- >
- >-
- >
- >
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 17:34:57 -0800 (PST)
- From: dbphoenix <dbphoenix@yahoo.com>
- Subject: RE: [CANSLIM] An Alternate Angle on Group Strength
-
- <<Should have read all the posts prior to asking you to explain what a
- FWH
- was. Good explanation, I thought so from your description.>>
-
- I wouldn't call it an explanation, exactly. I don't know why it's
- occurring so much. I assume it's a reflection of the power of this
- bull. And it may never occur again. But I do believe that waiting
- around for a lot of retests may not be the best way to play here.
-
- - --Db
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 17:36:25 -0800 (PST)
- From: dbphoenix <dbphoenix@yahoo.com>
- Subject: Re [CANSLIM] An Alternate Angle to Group Strength
-
- <<Should have read all the posts prior to asking you to explain what a
- FWH
- was. Good explanation, I thought so from your description.>>
-
- I wouldn't call it an explanation, exactly. I don't know why it's
- occurring so much. I assume it's a reflection of the power of this
- bull. And it may never occur again. But I do believe that waiting
- around for a lot of retests may not be the best way to play here.
-
- - --Db
-
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 3 Nov 1998 17:52:01 -0800 (PST)
- From: dbphoenix <dbphoenix@yahoo.com>
- Subject: [CANSLIM] Marder
-
- Marder has a new article for us:
-
- http://cbs.marketwatch.com/news/current/marder.htx?source=htx/http2_mw
-
- - --Db
-
-
- _________________________________________________________
- DO YOU YAHOO!?
- Get your free @yahoo.com address at http://mail.yahoo.com
-
-
- - -
-
- ------------------------------
-
- Date: Tue, 03 Nov 1998 18:14:46 -0800
- From: Tim Fisher <tim@orerockon.com>
- Subject: [CANSLIM] Another example of mediots
-
- The before-extraordinary items EPS was $0.30 vs. $0.27 SQLY. It fell today
- and probably will take another quarter to recover.
-
- * RENTERS CHOICE INC reported 3Q EPS of $0.13 vs $0.27 in the
- prior year period, on revenues of $265.9 mln vs $83.9 mln.
- Analysts' mean estimates were $0.30, according to First Call.
- These results include pretax, non-recurring acquisition related
- expenses of $2.5 mln included in General and Administrative
- expenses relating to the company's decision to establish
- Rent-A-Center as its sole nationwide brandname and $5 mln of
- financing costs included in interest expense. (Reuters 08:13 AM ET
- 11/03/98) For the full text story, see
- http://www.infobeat.com/stories/cgi/story.cgi?id=2556913170-a24
-
-
- Tim Fisher, 1995 President, Pacific Fishery Biologists
- Ore-ROCK-On Rockhounding Web Site
- PFB Information
- tim@OreRockOn.com
- WWW http://OreRockOn.com
-
- - -
-
- ------------------------------
-
- End of canslim-digest V2 #430
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