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From: owner-canslim-digest@lists.xmission.com (canslim-digest)
To: canslim-digest@lists.xmission.com
Subject: canslim-digest V2 #509
Reply-To: canslim
Sender: owner-canslim-digest@lists.xmission.com
Errors-To: owner-canslim-digest@lists.xmission.com
Precedence: bulk
Content-Transfer-Encoding: quoted-printable
X-No-Archive: yes
canslim-digest Sunday, January 24 1999 Volume 02 : Number 509
In this issue:
Re: [CANSLIM] IBD chart interpretation, Frank
Re: [CANSLIM] IBD chart interpretation, Frank
RE: [CANSLIM] Technical stufff [Connie Mack]
Re: [CANSLIM] Technical stufff [Connie Mack]
Re: [CANSLIM] Technical stufff [Connie Mack]
[CANSLIM] Connie's 3/7/10 EMA
Re: [CANSLIM] Technical stufff [Connie Mack]
Re: [CANSLIM] Connie's 3/7/10 EMA
Re: [CANSLIM] Technical stufff [Connie Mack]
RE: [CANSLIM] Technical stufff [Connie Mack]
[CANSLIM] Technical stuff stuck in my Bookmarks over the past year. [Connie Mack]
Re: [CANSLIM] Technical stufff [Connie Mack]
----------------------------------------------------------------------
Date: Sat, 23 Jan 1999 11:55:59 -0500
From: "Frank V. Wolynski" <Wolynski@MindSpring.Com>
Subject: Re: [CANSLIM] IBD chart interpretation, Frank
At 02:59 1/23/99 -0800, you wrote:
>
>Frank, I am at your site again with more IBD chart questions.
>http://wolynski.home.mindspring.com/ On the "Number of IBD stocks
>in .....trends" graph. I see the Up and Down groups trending roughly
>toward the mean on the chart. I guess it could mean that the UP
>groups are in transition to Down and vice versa-- that's what the
>crossover would seem to indicate, right? Adding the ups and downs
>gives roughly 3500 which leaves about 1000. Or do you consider these
>1000 or so to be trending sideways?
>
>Thanks.
>TM
Ah, the art of interpretation. Let me take off my engineers hat and take a
stab at it. I think your assessment is a fair one, however the count is of
stocks not of groups. Transition is a good interpretation, but the question
remains, transition to what? I use the chart also for helping resolve
divergence issues. Take for example the July 98 juncture of the chart. The
S&P (light yellow line) made a new high, but the underlying stocks had
weakened where there were less in a 3,7,10ma condition. (The 3sma above the
7sma, which is above the 10sma.)
Not all divergences lead to anything, take for example the late November
divergence in the 3710sma's and the S&P. The market moved higher. So how do
we tell the difference? You have to move to other tea leaves, err
indicators of breadth and momemtum. The IBD A/D ratios are good or simply
the # of New Highs.
It is rare for a thrust to simply set a new high point and the entire
market cave in at that point. The divergences that scare the dickens out of
technicians are not sufficient and any retreat to a supporting ma or price
point is usually met with renewed buying (late arrivals to the party). It
is this secondary thrust where divergences are then capable of being created.
( Or not!)
The current state of the 3710sma count is confirming. That is the
oscillator is in agreement with the S&P index. There are exceptions,
however this does imply another leg up. At least to me. Others may see
current conditions differently. The bullish sentiment sure screams a
contrarians song!
How I am interpreting the current market is one setting the stage for a
rotation into other groups/sectors. I don't of course know that, but it
looks to be unfolding in that manner. So I will not concentrate so much on
the performers who have pulled back a bit, but rather look for stocks that
have sound bases as described by WON in HTMMIS and looking to break out.
Best Regards,
Frank Wolynski
wolynski@mindspring.com
http://wolynski.home.mindspring.com/
- -
------------------------------
Date: Sat, 23 Jan 1999 11:58:39 -0500
From: "Frank V. Wolynski" <Wolynski@MindSpring.Com>
Subject: Re: [CANSLIM] IBD chart interpretation, Frank
At 02:59 1/23/99 -0800, you wrote:
>
>Frank, I am at your site again with more IBD chart questions.
>http://wolynski.home.mindspring.com/ On the "Number of IBD stocks
>in .....trends" graph. I see the Up and Down groups trending roughly
>toward the mean on the chart. I guess it could mean that the UP
>groups are in transition to Down and vice versa-- that's what the
>crossover would seem to indicate, right? Adding the ups and downs
>gives roughly 3500 which leaves about 1000. Or do you consider these
>1000 or so to be trending sideways?
>
>Thanks.
>TM
>
I realized I did not answer your question. The remaining 1000 or so, would
be caught in some other condition rather than the two trends indicated on
the graph. That of course could be short term sideways or transitioning
from Up to down or visa versa.
Regards,
Frank Wolynski
wolynski@mindspring.com
http://wolynski.home.mindspring.com/
- -
------------------------------
Date: Sun, 24 Jan 1999 00:35:55 -0500
From: "Ronald J. Russell, Jr." <ronrussell@home.com>
Subject: RE: [CANSLIM] Technical stufff [Connie Mack]
Connie Mack,
As a relative new comer, I assume you have posted your use of the 3/7/10 EMA
on this list in the past. I tried use the archive search engine but got far
too many hits to be of any practical use. Could you help me narrow my
search down to when you might have elaborated on your methods?
Thanks,
Ron
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Connie Mack Rea
Sent: Saturday, January 23, 1999 10:08 AM
To: canslim
Subject: [CANSLIM] Technical stufff [Connie Mack]
Drugs can make bacteria more dangerous because a weak dose may kill only
the weaker bacteria; surviving ones start a new, stronger line. Thus
one can poison himself by taking too little of a drug.
Don't take too little of the 3/7/10 EMA. Put it to a chart in October
and see what a benefactor it was. Don't get too sophisticated with your
indicators.
The 3/7/10 EMA is talking again.
Connie Mack
- -
- -
------------------------------
Date: Sat, 23 Jan 1999 23:32:48 -0500
From: "anthony boone" <boonean@nwga.com>
Subject: Re: [CANSLIM] Technical stufff [Connie Mack]
What is the key factor to look for in 3/7/10 EMA? (I know what 3/7/10 EMA
is; the generic definiton.)
thanks in advance
Anthony
- ----------
> From: Connie Mack Rea <rea1@ithink.net>
> To: canslim <canslim@mail.xmission.com>
> Subject: [CANSLIM] Technical stufff [Connie Mack]
> Date: Saturday, January 23, 1999 10:08 AM
>
> Drugs can make bacteria more dangerous because a weak dose may kill only
> the weaker bacteria; surviving ones start a new, stronger line. Thus
> one can poison himself by taking too little of a drug.
>
> Don't take too little of the 3/7/10 EMA. Put it to a chart in October
> and see what a benefactor it was. Don't get too sophisticated with your
> indicators.
>
> The 3/7/10 EMA is talking again.
>
> Connie Mack
>
>
> -
- -
------------------------------
Date: Sat, 23 Jan 1999 22:04:14 -0800
From: Dan Cash <dcash@compuall.net>
Subject: Re: [CANSLIM] Technical stufff [Connie Mack]
Ron,
If you go back to August 12, 1997 and begin perusing the archives, you will find
a wealth of info.
Dan
"Ronald J. Russell, Jr." wrote:
> Connie Mack,
> As a relative new comer, I assume you have posted your use of the 3/7/10 EMA
> on this list in the past. I tried use the archive search engine but got far
> too many hits to be of any practical use. Could you help me narrow my
> search down to when you might have elaborated on your methods?
> Thanks,
> Ron
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com] On Behalf Of Connie Mack Rea
> Sent: Saturday, January 23, 1999 10:08 AM
> To: canslim
> Subject: [CANSLIM] Technical stufff [Connie Mack]
>
> Drugs can make bacteria more dangerous because a weak dose may kill only
> the weaker bacteria; surviving ones start a new, stronger line. Thus
> one can poison himself by taking too little of a drug.
>
> Don't take too little of the 3/7/10 EMA. Put it to a chart in October
> and see what a benefactor it was. Don't get too sophisticated with your
> indicators.
>
> The 3/7/10 EMA is talking again.
>
> Connie Mack
>
> -
>
> -
- -
------------------------------
Date: Sun, 24 Jan 1999 01:14:26 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: [CANSLIM] Connie's 3/7/10 EMA
For those members wanting more detail on Connie's use of the
3/7/10 EMA, as well as other TA indicators he uses, I have
forwarded a repost of his email from April 15, 1998
(auspicious date that that was). Unfortunately it is hung up
at majordomo due its length. I'm sure it will magically
appear later on today, but for those too anxious to wait,
try checking the archives around that date as well.
Tom W
stkguru@netside.net
ICQ # 5568838
- -
------------------------------
Date: Sun, 24 Jan 1999 10:23:10 -0500
From: Connie Mack Rea <rea1@ithink.net>
Subject: Re: [CANSLIM] Technical stufff [Connie Mack]
Morning Don--
Don is a veteran investor and knows pretty much what I do with technical
indicators. But for those less knowledgeable, let me add few things that
come to mind while I also answer Don.
Definitions of BC's indicators are available by clicking on the small print
text between the indicator windows. Also see:
http://www.equis.com/free/taaz/index.html
The 3-line EMA is just one of the built-in EMAs available in BC. Unhappy
with only three lines, you may set, I think, up to ten. I use the 3/7/10 and
usually add a 50/100 because my primary screening indicator, volume increase,
carries an inherent bias for stocks correcting or turning around. BC has its
own "Stocks with Volume Increase" and is more than adequate for increased
volume screens. Too, it has several other screens on its "Big Reports"
window. You move between this window and its other technical indicator
window by clicking the BC icon in the upper left.
In the "Upper Indicators" (where all the indicators are selected), you can
put in any number of EMAs you want up to 10. Go to the right/left arrows
directly below the "Interactive Charting" side and click once on the right
arrow, which will move the very small window of the EMAs enough so you can
insert your cursor.
I don't recall what the default EMAs are, but you may delete them as you
would delete elsewhere. Put your cursor as far left as you can and hit
whatever key you use to delete right. Once emptied, you enter your EMAs.
You may use a comma with no spaces, or you may use a space and no comma. You
may have trouble saving these, and other settings, if you leave BC.
I also use the Parabolic SAR as another of the upper settings. It will not
interfere with the EMAs.
To get a feel for gross support levels, you may put in a "Volume by Price"
indicator. There are several other indicators available.
Before I use my 3/7/10 EMA (mine only in the sense that I have used it for 15
years), I run a Money Flow and On Balance Volume [MF/OBV] scan on the stocks
that my "Increase in Volume" scan has produced. [I use a couple of other
volume scans. Both have been written by members of my faculty stock group,
but they don't produce more than 5 per cent more than BC.]
Other than a few stocks that I day trade and swing trade (MU, e.g.), I limit
my scan from $10 to $30. I trade other stocks, but they are stocks that are
in a sense "trading" stocks (volatile with high liquidity and small spread;
some traders, however, prefer higher spreads). I arbitrarily choose these
stocks because, to trade for 1/8 to 1/2 increments of profit, you must buy
several hundred shares.
After I have scanned BC's volume list, I visually look at the charts. First,
I put either MF or OBV in the lower window. It doesn't matter which because
a stock must have both MF and OBV Positive Divergence. I make only about a 5
per cent exception to this rule.
The stocks surviving are then examined by the 3/7/10 EMA. The MF/OBV are
gross indicators. The 3/7/10 is much more precise. Remember that an EMA
with these numbers is a rocket indicator and used precisely for entry and
exits.
The 3/7/10 EMA is useful for the Canslimer as an entry and exit counter to
the much slower bias that Canslim has. This is not to disparage Canslim, for
Canslim is purposely built to smooth the very volatility that a 3/7/10
offers. The usefulness of the 3/7/10 EMA for Canslim is to gather in some of
the money that would be left on the table when using the entries and exits of
Canslim.
Not quite an axiom for me is my requirement that the 3/7/10 must be giving
either a First Level Buy [3 line through the 7], a Second Level Buy [3 line
through the 10], or a Third Level Buy [7 line through the 10], and that the
MACD and SlowStochastic is also in a buy area. If you wish to relax the
criteria, there are several permutations. You can relax the 3/7/10 by
requiring a Third Level Buy. You can relax the MACD by deciding where you
want the crossover to take place (above or below the marker line). Same for
the SloSto. For further permutations, you can use any two indicators, or all
three. But don't get too cute.
I do my first MF/OBV scan on a 3-month chart. I seldom turn up more than six
stocks. After completing my list of stocks to exam further [those meeting
3/7/10, MACD, and SloSto criteria] , I take a look at 6- and 12-month charts
for support/resistance levels.
I may look at a 1-month chart if the 3/7/10 is congested on a 3-month.
Sooner or later I will look at a 5- and 1-day chart for some intraday
support/resitance and the "Volume+" indicator [Lower Indicators].
Always, I look at the previous day's 1-day chart. I still have my 3/7/10,
MACD, and SloSto on the screen. Irrespective that my faculty group math boys
tell me that, from a mathematical view, my applying an already rocket EMA to
an intraday chart is like going out three more decimals in refining the pi.
No matter. I do it, and I do it while day trading.
I also find a Time & Sales chart invaluable. One of my faculty group has
tied me in to one of his pieces of software. You don't want to know the
legality of it all.
Add 5- and 10-minute charts and you're ready to rock and roll. The same
faculty member has me tied to real time charts.
Connie Mack
- -
------------------------------
Date: Sun, 24 Jan 1999 10:39:23 -0500
From: Connie Mack Rea <rea1@ithink.net>
Subject: Re: [CANSLIM] Connie's 3/7/10 EMA
Tom may have edited some of my 3/7/10 stuff, as he implies in today's
mail.
Tom knows more about the overall market [especially from the retail side
and the CS side] than anyone I know.
Also, he has been at work on some technical/CS stuff for several
months. Maybe someone can pry loose his secrets.
Thanks for the help, Tom.
I'll try to answer any questions left dangling after after members have
looked at the archives, at Tom's post, and at my post this morning.
My thanks to Dan Cash, too.
Connie Mack
Tom Worley wrote:
> For those members wanting more detail on Connie's use of the
> 3/7/10 EMA, as well as other TA indicators he uses, I have
> forwarded a repost of his email from April 15, 1998
> (auspicious date that that was). Unfortunately it is hung up
> at majordomo due its length. I'm sure it will magically
> appear later on today, but for those too anxious to wait,
> try checking the archives around that date as well.
>
> Tom W
> stkguru@netside.net
> ICQ # 5568838
>
> -
- -
------------------------------
Date: Sun, 24 Jan 1999 10:41:35 -0500
From: Connie Mack Rea <rea1@ithink.net>
Subject: Re: [CANSLIM] Technical stufff [Connie Mack]
Morning Ron--
I have some files of several months ago that I cobbled together. They lack any
clear thread of contituity because most were just comments to members. They do,
however, comment on my use of several indicators.
Once you have them, you can edit them, for some of fairly long.
Tell me if you wish for me to send them.
Connie Mack
Ronald J. Russell, Jr. wrote:
> Connie Mack,
> As a relative new comer, I assume you have posted your use of the 3/7/10 EMA
> on this list in the past. I tried use the archive search engine but got far
> too many hits to be of any practical use. Could you help me narrow my
> search down to when you might have elaborated on your methods?
> Thanks,
> Ron
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com] On Behalf Of Connie Mack Rea
> Sent: Saturday, January 23, 1999 10:08 AM
> To: canslim
> Subject: [CANSLIM] Technical stufff [Connie Mack]
>
> Drugs can make bacteria more dangerous because a weak dose may kill only
> the weaker bacteria; surviving ones start a new, stronger line. Thus
> one can poison himself by taking too little of a drug.
>
> Don't take too little of the 3/7/10 EMA. Put it to a chart in October
> and see what a benefactor it was. Don't get too sophisticated with your
> indicators.
>
> The 3/7/10 EMA is talking again.
>
> Connie Mack
>
> -
>
> -
- -
------------------------------
Date: Sun, 24 Jan 1999 10:53:21 -0500
From: "Ronald J. Russell, Jr." <ronrussell@home.com>
Subject: RE: [CANSLIM] Technical stufff [Connie Mack]
Yes, absolutely. Please send on the material. Thanks to you and Tom and
Dan and Don etc. for the prompt and helpful responses.
Ron
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Connie Mack Rea
Sent: Sunday, January 24, 1999 10:42 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Technical stufff [Connie Mack]
Morning Ron--
I have some files of several months ago that I cobbled together. They lack
any
clear thread of contiguity because most were just comments to members. They
do,
however, comment on my use of several indicators.
Once you have them, you can edit them, for some of fairly long.
Tell me if you wish for me to send them.
Connie Mack
Ronald J. Russell, Jr. wrote:
> Connie Mack,
> As a relative new comer, I assume you have posted your use of the 3/7/10
EMA
> on this list in the past. I tried use the archive search engine but got
far
> too many hits to be of any practical use. Could you help me narrow my
> search down to when you might have elaborated on your methods?
> Thanks,
> Ron
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com] On Behalf Of Connie Mack Rea
> Sent: Saturday, January 23, 1999 10:08 AM
> To: canslim
> Subject: [CANSLIM] Technical stufff [Connie Mack]
>
> Drugs can make bacteria more dangerous because a weak dose may kill only
> the weaker bacteria; surviving ones start a new, stronger line. Thus
> one can poison himself by taking too little of a drug.
>
> Don't take too little of the 3/7/10 EMA. Put it to a chart in October
> and see what a benefactor it was. Don't get too sophisticated with your
> indicators.
>
> The 3/7/10 EMA is talking again.
>
> Connie Mack
>
> -
>
> -
- -
- -
------------------------------
Date: Sun, 24 Jan 1999 11:18:17 -0500
From: Connie Mack Rea <rea1@ithink.net>
Subject: [CANSLIM] Technical stuff stuck in my Bookmarks over the past year. [Connie Mack]
Here are some sites that have accumulated in my Bookmarks over this past
year.
No warrantee about their usefulness:
http://www.iqc.com/
http://www.e-analytics.com/index.htm
http://www.stocks.com/
http://www.wsrn.com/home/NewsSearch/index.html
http://www.doh.com/sp_top.shtml
http://www.stocksmart.com/ows-bin/owa/ssd?pg=industrys
http://www.decisionpoint.com/
http://www.equitytrader.com/
http://www.hardrightedge.com/
http://www.elitebiz.com/stocks/cgi-bin/Ultimate.cgi?action=intro
http://www.allstocks.com/
http://www.askresearch.com/cgi-bin/chart
http://www.dailystocks.com/cgi-bin/dailystocks/build_list?Ticker=DELL&FindSymbol=Search&Type=2
http://www.mrci.com/lbr/index.htm
http://www.trillions.com/tech.html
http://www.trading-ideas.com/mflow.htm
http://sosadvisors.com/ians3.htm
http://www.investorama.com/director.html
http://www.stocksites.net/
http://www.clearstation.com/cgi-bin/bbs/Individual_Stocks/GLM/Discuss/?Cmd=post&point=12
http://members.aol.com/ranord/
http://www.alphachart.com/
http://www.earningswhispers.com/stocks.asp?symbol=novl
Connie Mack
- -
------------------------------
Date: Sun, 24 Jan 1999 12:03:58 -0500
From: baker <baker@blazenet.net>
Subject: Re: [CANSLIM] Technical stufff [Connie Mack]
connie:
please send them
frank
Connie Mack Rea wrote:
> Morning Ron--
>
> I have some files of several months ago that I cobbled together. They lack any
> clear thread of contituity because most were just comments to members. They do,
> however, comment on my use of several indicators.
>
> Once you have them, you can edit them, for some of fairly long.
>
> Tell me if you wish for me to send them.
>
> Connie Mack
>
> Ronald J. Russell, Jr. wrote:
>
> > Connie Mack,
> > As a relative new comer, I assume you have posted your use of the 3/7/10 EMA
> > on this list in the past. I tried use the archive search engine but got far
> > too many hits to be of any practical use. Could you help me narrow my
> > search down to when you might have elaborated on your methods?
> > Thanks,
> > Ron
> >
> > -----Original Message-----
> > From: owner-canslim@lists.xmission.com
> > [mailto:owner-canslim@lists.xmission.com] On Behalf Of Connie Mack Rea
> > Sent: Saturday, January 23, 1999 10:08 AM
> > To: canslim
> > Subject: [CANSLIM] Technical stufff [Connie Mack]
> >
> > Drugs can make bacteria more dangerous because a weak dose may kill only
> > the weaker bacteria; surviving ones start a new, stronger line. Thus
> > one can poison himself by taking too little of a drug.
> >
> > Don't take too little of the 3/7/10 EMA. Put it to a chart in October
> > and see what a benefactor it was. Don't get too sophisticated with your
> > indicators.
> >
> > The 3/7/10 EMA is talking again.
> >
> > Connie Mack
> >
> > -
> >
> > -
>
> -
- -
------------------------------
End of canslim-digest V2 #509
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