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v02.n541
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1999-02-26
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From: owner-canslim-digest@lists.xmission.com (canslim-digest)
To: canslim-digest@lists.xmission.com
Subject: canslim-digest V2 #541
Reply-To: canslim
Sender: owner-canslim-digest@lists.xmission.com
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canslim-digest Friday, February 26 1999 Volume 02 : Number 541
In this issue:
[CANSLIM] Did I Miss Something?
Re: [CANSLIM] Did I Miss Something?
Re: [CANSLIM] Did I Miss Something?
Re: [CANSLIM] You missed nothing Db
[CANSLIM] Numbers for ALO - not quite a HTF
Re: [CANSLIM] You missed nothing Db
[CANSLIM] Trading stuff. [Connie Mack]
[CANSLIM] Watching and about through waiting. [Connie Mack]
Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
[CANSLIM] EBAY new all time high
Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
[CANSLIM] new member
Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
----------------------------------------------------------------------
Date: Thu, 25 Feb 1999 16:09:13 -0800 (PST)
From: dbphoenix <dbphoenix@yahoo.com>
Subject: [CANSLIM] Did I Miss Something?
Gee Whiz. Twelve posts in this issue of the digest and nine of them
have to do with daytrading. What was the name of the list again?
- --Db
==
"Lessons are repeated until they are learned."
http://home.talkcity.com//MoneySt/dbphoenix/
_________________________________________________________
DO YOU YAHOO!?
Get your free @yahoo.com address at http://mail.yahoo.com
- -
------------------------------
Date: Thu, 25 Feb 1999 23:45:10 -0500
From: Craig Griffin <cagriffin@mindspring.com>
Subject: Re: [CANSLIM] Did I Miss Something?
Db,
My assumption is that because the normal Canslim message traffic has been
light, the daytrading oriented posts tend to stand out. They are always
there, off and on, like other varieties of off topic posts, but usually the
more strictly Canslim posts hugely outnumber them - so you don't notice as
much. I kind of like the quiet at times and enjoy the occassional
daytrading type post.
I assume everyone else is quietly digesting current market action. Holding
their positions (or not), but probably not adding much at the moment. So
the daytraders are the ones from the list most active in this environment.
Then again, maybe its just the ebb and flow of list traffic :). Either
way, I am sure the Canslim posts will pick up eventually. I think many of
our more active members are probably using this lull to get other things
done or to refine their approach.
Just so this will not be completely unrelated to stocks ...
Did you notice the follow through day we had on 02/22 (up more than 1% on
higher volume - 3rd day of the rally)? Maybe you "missed" that ;). Looks
like our correction is over if the signal is valid, (although you would
never know from the past two days alone). I believe someone quoted WON as
saying there was about a 20% failure rate to these 1% on volume "buy"
signals - is that what we concluded?. Anyway, the Internets are starting
to look powerful again, but the action continues to get narrower.
Best Regards,
Craig
PS.
Also, this just in from InvestTools:
1. Curzio Predicts Internet, Tech Stock Crash
2. Market to Grow Regardless of Bubble, Gyrations
Both articles, with slightly different views of the current environment can
be found at the following link:
http://www.investools.com/cgi-bin/IT/advisory/home
At 04:09 PM 2/25/99 -0800, you wrote:
>
>Gee Whiz. Twelve posts in this issue of the digest and nine of them
>have to do with daytrading. What was the name of the list again?
>
>--Db
- -
------------------------------
Date: Fri, 26 Feb 1999 00:08:11 -0500
From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Did I Miss Something?
Heck, I've spent what little free time I've had in the past
three weeks trying to figure out how to install a
replacement belt on my 15 year old dryer (hey, I already
said I'm cheap!).
Tom W
stkguru@netside.net
ICQ # 5568838
- -----Original Message-----
From: Craig Griffin <cagriffin@mindspring.com>
To: canslim@lists.xmission.com <canslim@lists.xmission.com>
Date: Thursday, February 25, 1999 11:46 PM
Subject: Re: [CANSLIM] Did I Miss Something?
way, I am sure the Canslim posts will pick up eventually. I
think many of
our more active members are probably using this lull to get
other things
done or to refine their approach.
- -
------------------------------
Date: Fri, 26 Feb 1999 00:18:11 EST
From: Ssingh@aol.com
Subject: Re: [CANSLIM] You missed nothing Db
In a message dated 2/25/99 11:48:44 PM Eastern Standard Time,
cagriffin@mindspring.com writes:
<< I believe someone quoted WON as
saying there was about a 20% failure rate to these 1% on volume "buy"
signals - is that what we concluded?. Anyway, the Internets are starting
to look powerful again, but the action continues to get narrower. >>
WON's nice comments about the market at:
http://cbs.marketwatch.com/archive/19990225/news/current/oneil.htx?source=blq/
yhoo&dist=yhoo
enjoy.
Surindra
- -
------------------------------
Date: Fri, 26 Feb 1999 08:37:01 -0800
From: "Peter Newell" <ppnewell@bellsouth.net>
Subject: [CANSLIM] Numbers for ALO - not quite a HTF
This looks interesting. A bit loose and long for a HTF.
What do you think?
Peter
- -
------------------------------
Date: Fri, 26 Feb 1999 10:43:48 -0500
From: Craig Griffin <cagriffin@mindspring.com>
Subject: Re: [CANSLIM] You missed nothing Db
Surinda,
At 12:18 AM 2/26/99 EST, you wrote:
>WON's nice comments about the market at:
>http://cbs.marketwatch.com/archive/19990225/news/current/oneil.htx?source=b
lq/-
>yhoo&dist=yhoo
Great link. Thanks for posting it!
Here's a shorter version for easier click and link from everyone's email -
http://cbs.marketwatch.com/archive/19990225/news/current/oneil.htx
Best Regards,
Craig
- -
------------------------------
Date: Fri, 26 Feb 1999 10:49:54 -0500
From: Connie Mack Rea <rea1@ithink.net>
Subject: [CANSLIM] Trading stuff. [Connie Mack]
Hard for me to believe that MU, though taken from a big house list, is
not a buy at the morning open or thereabouts. I have bought two
positions at 57 for trading. However, those interested in longer term
holding might want to consider small lots.
I've no position in Dell. It looks weak.
ACI is positive and still looks okay to hold.
I've no position in NOVL. I will look to go back in at 18 or so. I
think there is a lot of stock for sale at the 52-wk high.
Connie Mack
- -
------------------------------
Date: Fri, 26 Feb 1999 14:20:57 -0500
From: Connie Mack Rea <rea1@ithink.net>
Subject: [CANSLIM] Watching and about through waiting. [Connie Mack]
This is a good day to learn about extremely volatile stocks. I'm
trading both DELL and MU. Let's take DELL since it may be starting a
move.
Put DELL on BC's 5-min. intraday with Bollinger Bands on price and,
alternately, MACD and SloSto in the bottom window. Since about 10:00,
the more important prices have varied from about 78.75 and 79.5.
Putting on a top and bottom trendline will define a narrow and slightly
ascending triangle. The SloSto gives a stronger picture with its rising
trendline across the bottoms.
The MACD crossed itself while below the marker line at 10:45 and gave a
confirmation as it crossed the marker line at 1:15.
The 3/7/10 EMA has become separated and has given a First and Second
Level Buy. I will buy a small lot at 79.5. I expect to find some
resistance at 80.25 and will consider letting this lot go for 3/4
point. There is probably a lot of stock for sale at 80.25. But, once
past this resistance, I might expect another half point.
I'll do whatever the 3/7/10, MACD, and SloSto tell me. Sometimes you
decide to take yourself out at a price; other times you ride the
indicators.
MU is a whole different animal. I've two small lots [57 and 57.25].
For me, it hasn't taken on a character yet. The MACD wants to rise and
just a few minutes ago the SloSto made a crossing while above the marker
[zero] line. Notice that the SloSto has been above the marker line all
day and has twice held at the lower limit.
The congestion is getting heavy. The 3/7/10 EMA is not yet separated.
If it does separate, and the MACD and SloSto are still positive, I will
begin to buy small lots on 1/2 point increments.
This is a good day to watch how certain indicators act when there is
shrapnel everywhere.
Connie Mack
- -
------------------------------
Date: Fri, 26 Feb 1999 14:44:15 EST
From: CA011667@aol.com
Subject: Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
Connie,
I rarely post here, but I have enjoyed reading your post and I am always
interested in your tech analysis. I have recently taken a large position in
CMED, EPS 99 RS 94.I am in at prices ranging from 11 1/8 to 13 11/16 with most
of the position aqiured at the latter price.I would appreciate it if you had
the time to give me a quick read on the technicals. It seems to me the stock
has firmed up nicley the last 3 days. Any opinions on the short or long term
outlook would be appreciated.God Bless.
Chris.
- -
------------------------------
Date: Fri, 26 Feb 1999 20:58:50 +0100
From: Johan Van Houtven <click@ping.be>
Subject: Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
Connie,
I'm also daytrading DELL at the moment. Wouldn't buy it at 79.5 with the
method I'm using. But I understand your perspective here.
My main worry: the market in general. It is taking general DELL down with it.
Good to see two daytraders with conflicting opinions, otherwise we would
have a tradable market.
All the best,
Johan
At 02:20 PM 26-02-99 -0500, you wrote:
>This is a good day to learn about extremely volatile stocks. I'm
>trading both DELL and MU. Let's take DELL since it may be starting a
>move.
>
>Put DELL on BC's 5-min. intraday with Bollinger Bands on price and,
>alternately, MACD and SloSto in the bottom window. Since about 10:00,
>the more important prices have varied from about 78.75 and 79.5.
>Putting on a top and bottom trendline will define a narrow and slightly
>ascending triangle. The SloSto gives a stronger picture with its rising
>trendline across the bottoms.
>
>The MACD crossed itself while below the marker line at 10:45 and gave a
>confirmation as it crossed the marker line at 1:15.
>
>The 3/7/10 EMA has become separated and has given a First and Second
>Level Buy. I will buy a small lot at 79.5. I expect to find some
>resistance at 80.25 and will consider letting this lot go for 3/4
>point. There is probably a lot of stock for sale at 80.25. But, once
>past this resistance, I might expect another half point.
>
>I'll do whatever the 3/7/10, MACD, and SloSto tell me. Sometimes you
>decide to take yourself out at a price; other times you ride the
>indicators.
>
>MU is a whole different animal. I've two small lots [57 and 57.25].
>For me, it hasn't taken on a character yet. The MACD wants to rise and
>just a few minutes ago the SloSto made a crossing while above the marker
>[zero] line. Notice that the SloSto has been above the marker line all
>day and has twice held at the lower limit.
>
>The congestion is getting heavy. The 3/7/10 EMA is not yet separated.
>If it does separate, and the MACD and SloSto are still positive, I will
>begin to buy small lots on 1/2 point increments.
>
>This is a good day to watch how certain indicators act when there is
>shrapnel everywhere.
>
>Connie Mack
>
>
>-
>
>
Johan
- -
------------------------------
Date: Fri, 26 Feb 1999 21:39:01 +0100
From: Johan Van Houtven <click@ping.be>
Subject: [CANSLIM] EBAY new all time high
One word: AMaZiNg.
Johan
- -
------------------------------
Date: Fri, 26 Feb 1999 16:12:15 -0500
From: Connie Mack Rea <rea1@ithink.net>
Subject: Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
Evening Chris--
Don't see why we can't check your affection for CMED. You didn't say, but I infer
that the stock is a Canslim candidate [EPS and RS numbers]. I answer here because
some other member may have a position.
I can't give you any long term opinion, for my long term is just a few days down
the road. Okay, how about short term?
Looks to me like you've a parallel channel with a top about 13.5 and a bottom at
11.65. There's a minor trendline around 12.5. I'm drawing my trendlines a bit as
to my own liking. So, you're in below the low and also at about the top. This
doesn't look serious, irrespective that you're in more at the top than the bottom.
The 3/7/10 EMA has given a Second Level Buy; the Third is nearby.
The OBV volume is Positively Divergent the last two weeks.
The MF also has a PD the last two weeks.
The volume has dried up nicely during the last correction.
The SloSto worries me a little. It might be getting ready to roll over. However,
stochastics can rise to what looks like an oversold condition but can remain so
and still not be a problem. Keep your eye on it.
The MACD has remained above the marker line for several months. Though it has
crossed just below the marker, it appears [the receding length of the vertical
bars] that the MACD's strength is still in tact. If it rose above the marker and
retreated a second time, you've established a weakening of the upward trend.
You've a bit more resistance around 14.25-.5. None of the volume on the high days
in early February are extraordinary. Technically, you look okay, even better than
okay. Looks like today's close will make a wash. You held up during some nasty
times today.
The NASDAQ is one ugly woman. But CMED is pretty. Kiss her and tuck her in until
Monday.
Thanks for the mail.
Connie
CA011667@aol.com wrote:
> Connie,
>
> I rarely post here, but I have enjoyed reading your post and I am always
> interested in your tech analysis. I have recently taken a large position in
> CMED, EPS 99 RS 94.I am in at prices ranging from 11 1/8 to 13 11/16 with most
> of the position aqiured at the latter price.I would appreciate it if you had
> the time to give me a quick read on the technicals. It seems to me the stock
> has firmed up nicley the last 3 days. Any opinions on the short or long term
> outlook would be appreciated.God Bless.
>
> Chris.
>
> -
- -
------------------------------
Date: Fri, 26 Feb 1999 18:02:16 EST
From: J3SRV@aol.com
Subject: [CANSLIM] new member
Hello, I hope I am doing this right. My name is Jeff. I am still a beginning
investor(1 year) and wanting to learn more so I will probably read more than
post.
Thanks,
Jeff
- -
------------------------------
Date: Fri, 26 Feb 1999 22:18:51 EST
From: CA011667@aol.com
Subject: Re: [CANSLIM] Watching and about through waiting. [Connie Mack]
Connie,
Thank you for your time and consideration. And yes CMED is a canslim choice.
Happy trading.
Chris.
- -
------------------------------
End of canslim-digest V2 #541
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