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canslim-digest         Friday, April 14 2000         Volume 02 : Number 874



In this issue:

       Re: Fwd: [CANSLIM] Industry Group Strength
       Re: [CANSLIM] Money flow in the market
       Re: [CANSLIM] Definition of a bear market
       [none]
       [CANSLIM] Support for NASDAQ
       [CANSLIM] Dow Tranportation has been rallying
       Re: [CANSLIM] Dow Tranportation has been rallying
       [CANSLIM] NASDAQ support

----------------------------------------------------------------------

Date: Wed, 12 Apr 2000 23:29:02 -0400
From: "Tom Worley" <[e-mail]>
Subject: Re: Fwd: [CANSLIM] Industry Group Strength

Hi Earl,

While you can lookup any stock at DGO, the "lists" provided (pre
formatted reports) are all limited to those stocks (slightly more
than 2,800) that are contained in the DG books. One of these
lists is the Index, which can easily be downloaded into an Excel
or Lotus spread sheet. This index holds 13 columns of data, of
which two are different each day. Thus, over a week there are a
total of 21 columns of data, one of which is the Industry Group.

Tom Worley
[e-mail]
chat with me at ICQ # 5568838
get ICQ software at http://www.icq.com/icqhomepage.html


- ----- Original Message -----
From: Earl Setser <[e-mail]>
To: Luke Lang <[e-mail]>; <[e-mail]>
Sent: Wednesday, April 12, 2000 11:07 PM
Subject: Re: Fwd: [CANSLIM] Industry Group Strength


Luke and I were discussing how to get IGP performance for
different
timeframes.  I thought this might be interesting to some of the
other members.

There are two possibilities that I know of that may be useful for
automating some of the time I spend each weekend:

1)Daily Graphs Online has most or all of the IBD data and various
lookups.
I'm not sure if it has shorter term IGP data, but I would think
it might.
I'm considering signing up for a trail period sometime soon to
work through
their data and screens and see how useful it would be for me with
my
present approaches.  I could REALLY use a way to dump IBD data
into a
spread sheet!!! Can Tom or others comment on what capabilities
DGO gives
you for getting EPS, RPS, SPR, A/D, and IGP data?

2)IBD is planning on providing some of the paper's data on-line
at
investors.com starting in early summer.  It discusses some
screening, etc.
content, and seems to indicate paper subscribers will get
additional
content.  I'm hopeful this will be very useful!!!

At 06:31 PM 4/12/00 -0700, you wrote:
>Earl,
>
>Thanks for your explanation.  I was hoping to find a
>more automated way to do this.
>
>Best regards,
>Luke Lang
>
>--- Earl Setser <[e-mail]> wrote:
>> The first list I just used the performance YTD in
>> IBD.  To get the second
>> list, I entered the performance YTD through the
>> NASDAQ peak (3/12) and then
>> calculated the performance from that number and the
>> YTD on Saturday.  Does
>> this answer your question?
>>
>> At 10:48 AM 4/12/00 -0700, you wrote:
>> >Earl,
>> >
>> >I guess you probably mentioned how you generated
>> these
>> >lists but I wasn't paying attention.  Would you
>> mind
>> >telling me again?  Thanks.
>> >
>> >Best regards,
>> >Luke Lang
>> >
>> >--- Earl Setser <[e-mail]> wrote:
>> >> Date: Sat, 08 Apr 2000 18:45:50 -0600
>> >> To: [e-mail],[e-mail]
>> >> From: Earl Setser <[e-mail]>
>> >> Subject: [CANSLIM] Industry Group Strength
>> >> Reply-to: [e-mail]
>> >>
>> >> Well, I've spent some time and generated the
>> Group
>> >> Strength lists I
>> >> mentioned the other day.  Here they are in case
>> >> others are interested.  The
>> >> top 40 groups since 1/1 are (ranked 1 to 40):
>> >>
>> >> Elec-Semiconductor  Mfg
>> >> Elec-Semiconductor Equip
>> >> Medical-Generic Drugs
>> >> Oil &Gas-Drilling
>> >> Oil&Gas-Machinery/Equip
>> >> Elec-Measrng Instruments
>> >> Computer-Memory Devices
>> >> Telecommunications-Equip
>> >> Elec-Scientific Instrumn
>> >> Computer-Graphics
>> >> Elec-Laser Sys/Component
>> >> Electrical-Connectors
>> >> Elec-Parts Distributors
>> >> Medical-Biomed/Genetics
>> >> Medical-Ethical Drugs
>> >> Medical-Products
>> >> Computer-Optical Recogtn
>> >> Oil&Gas-Field Services
>> >> Elec Products-Misc
>> >> Oil&Gas-U S Explo&Prod
>> >> Electrical-Equipment
>> >> Energy-Other
>> >> Leisure-Photo Equip/Rel
>> >> Oil&Gas-Prod/Pipeline
>> >> Elec-Misc Componets
>> >> Telecommunications-Svcs
>> >> Bldg-Heavy Const
>> >> Medical/Dental/Serv
>> >> Medical-Instruments
>> >> Computer Softwr-Security
>> >> Comml Svcs-Security/Sfty
>> >> Finance-Investment Bkrs
>> >> Computer-Peripheral Eq
>> >> Machinery-MtlHdlg/Autmn
>> >> Houshold-Audio/Video
>> >> Electrical-Control Instr
>> >> Oil&Gas-Intl Specialty
>> >> Comml Svcs-Schools
>> >> Computer-Manufacturers
>> >> Office-Equip&Automatn
>> >>
>> >> And the more or less top 40 groups since the peak
>> of
>> >> the NASDAQ are as
>> >> follows.  (Note that I only looked at groups in
>> the
>> >> top 60 over 6 months,
>> >> and those with greater than 10% gain YTD, so I
>> may
>> >> have missed a couple of
>> >> really laggard groups that have performed well
>> over
>> >> the last month.)
>> >>
>> >> Retail-Consumer Elect
>> >> Retail-Apparel/Shoe
>> >> Finance-Investment Mgmt
>> >> Banks-Money Center
>> >> Medical-Hospitals
>> >> Retail-Discount&Variety
>> >> Bldg-Heavy Const
>> >> Food-Dairy Products
>> >> Real Estate Operations
>> >> Oil &Gas-Drilling
>> >> Oil&Gas-Machinery/Equip
>> >> Oil&Gas-U S Explo&Prod
>> >> Machinery-MtlHdlg/Autmn
>> >> Medical-Generis Drugs
>> >> Office-Equip&Automatn
>> >> Leisure-Products
>> >> Auto/Truck-Original Eqp
>> >> Electrical-Connectors
>> >> Comml Svcs-Schools
>> >> Elec-Parts Distributors
>> >> Comml Svcs-Security/Sfty
>> >> Oil&Gas-Prod/Pipeline
>> >> Oil&Gas-Intl Specialty
>> >> Electrical-Equipment
>> >> Oil&Gas-Field Services
>> >> Elec-Military Systems
>> >> Leisure-Photo Equip/Rel
>> >> Utility-Telephone
>> >> Finance-Publ Inv Fd-Frn
>> >> Finance-Investment Bkrs
>> >> Comml Svcs-Staffing
>> >> Chemicals-Plastics
>> >> Polution Control-Svcs
>> >> Electrical-Control Instr
>> >> Retail/Whlsle-Cmptr/Cell
>> >> Telecommunctns-Cellulr
>> >> Media-Cable TV
>> >> Comml Svcs-Misc
>> >> Medical/Dental/Serv
>> >> Auto/Truck-Replace Prts
>> >>
>> >> A quick look at this list makes it pretty easy
>> for
>> >> me to choose which to
>> >> use.  There is almost no Tech representation on
>> the
>> >> later list, and I
>> >> believe this just shows how other industries have
>> >> outperformed during this
>> >> correction.  The first list does a good job of
>> >> shuffling some of the
>> >> laggard groups down or out without throwing away
>> >> those tech groups that did
>> >> better than average.  I think I'll use the first
>> >> list as my basis for a new
>> >> Leaders List.  Comments or suggestions, as
>> always,
>> >> are welcome!!
>> >>
>> >>
>> >> -
>> >>
>> >>
>> >
>> >__________________________________________________
>> >Do You Yahoo!?
>> >Send online invitations with Yahoo! Invites.
>> >http://invites.yahoo.com
>> >
>> >
>>
>>
>
>__________________________________________________
>Do You Yahoo!?
>Send online invitations with Yahoo! Invites.
>http://invites.yahoo.com
>
>


- -



- -

------------------------------

Date: Thu, 13 Apr 2000 01:10:21 -0400
From: "Tom Worley" <[e-mail]>
Subject: Re: [CANSLIM] Money flow in the market

So, money has the same weakness that BigCharts has, its money
flow chart simply is reflective of volume and price, and not
money. If a stock/index has 500,000 shares bot on an uptick, but
the last 1,000 shares trade on the bid and result in the stock
showing a downtick for the day at the close, it counts as an
outflow of money even tho there were far more buyers than
sellers.

Does anyone have a free site that bases its money flow on actual
trading, rather than the aggregate of the day?

Tom Worley
[e-mail]
chat with me at ICQ # 5568838
get ICQ software at http://www.icq.com/icqhomepage.html


- ----- Original Message -----
From: Matt Robinson <[e-mail]>
To: <[e-mail]>
Sent: Wednesday, April 12, 2000 11:37 PM
Subject: Re: [CANSLIM] Money flow in the market


Yeah, money flow as a technical indicator can be found on several
sites,
bigcharts, as he mentioned and moneycentral. I find it very
useful. Enough
times to get me to pay attention, money flow will begin to
decline and end
up being a prophetic sign of its near term top. To clarify, here
is the
definition of money flow, and a description of the manner in
which it is
calculated from moneycentral:

:Money Flow
:A technical indicator that keeps a running total of the money
flowing into
and out of a security. Money flow(MF)
:is calculated daily by multiplying the number of shares traded
by the
change in closing price. If prices close higher, :money flow is a
positive
number. If prices close lower, money flow is a negative number. A
running
total is kept
:by adding or subtracting the current result from the previous
total.

:When using MF to trade, the direction of the MF line is the
thing to watch,
not the actual dollar amount.
:This indicator will often confirm underlying strength or
weakness of a
price trend. It may also signal a top
:by declining while the stock is still rising, indicating big
money is
leaving the stock. Conversely, when MF rises in
:the face of a declining price trend could indicate smart money
is moving in
and a bottom may be at hand.

An example of a stock I like although it is about 25% off of its
high: IKOS.
Except for April 4, volume has dropped off as the stock as
bounced around,
mostly lower. Money flow represents this well, in showing very
little
decline. Even on April 4, the volume was about average of the
past 3 months
(~195k), and, like the Naz, it closed well off its low that day.
Volume over
the past about 2 weeks of trading has been about 120k,
considerably less
than its 3month average.

Now, I am not saying buy it. I am not saying it will even emerge
once (if)
the Naz/Russell comeback. For those that like/invest in small cap
stocks, it
is no surpise when a stock that is "obviously" good doesn't
perform for a
long period of time or even at all. But, the Naz selloff before
the past few
days has been accompanied with low volume.

Anywho, I find money flow to be a valuable indicator. To each his
(or her)
own.

Regards
Matt




- ----- Original Message -----
From: Tom Worley <[e-mail]>
To: <[e-mail]>
Sent: Wednesday, April 12, 2000 10:16 PM
Subject: Re: [CANSLIM] Money flow in the market


> Hi Pritish,
>
> I tend to the simplistic rather than the complicated and
> expensive. Have you considered simply looking at the Money Flow
> chart at BigCharts for the major indexes and see how it tracks
> with their pricing performance?
>
> Here's Nasdaq for the past month for example:
>
>
http://www.bigcharts.com/intchart/frames/frames.asp?symb=tmbs&tim
> e=4&freq=1
>
> The free way is not always the best way, but I like to try it
> before I make it complicated and labor intensive and expensive.
>
> Please let us hear if this works.
>
> Tom Worley
> [e-mail]
> chat with me at ICQ # 5568838
> get ICQ software at http://www.icq.com/icqhomepage.html
>
>
> ----- Original Message -----
> From: Pritish Shah <[e-mail]>
> To: <[e-mail]>
> Sent: Wednesday, April 12, 2000 2:01 PM
> Subject: [CANSLIM] Money flow in the market
>
>
>
> Hi,
>
> I was wondering if there is any way to measure money flow into
> the market
> at the end of each day. I think that would be a better guage of
> bull/bear
> than anything else.
>
> I was thinking along the line of adding up the market cap of
all
> the
> exchange traded companies and figuring out if the money is
> flowing in our
> out.
>
> Does that make sense? This could be extended a bit by finding
out
> where
> the money is flowing?
>
> I am pretty sure that someone has already thought of this but I
> do not
> know if the information is accessible or where is it accessible
> from
>
> Regards,
> Pritish
>
>
> -
>
>
>
> -
>


__________________________________________________
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Talk to your friends online with Yahoo! Messenger.
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- -



- -

------------------------------

Date: 12 Apr 2000 18:20:12 -0700
From: "Tim Fisher" <[e-mail]>
Subject: Re: [CANSLIM] Definition of a bear market

A bear market is not a 28% correction over a couple of weeks. Since a bear
market lasts 6 months to 2 years or more, if the NASDAQ is still 20% below
5000 in 6 months, is it then in a bear market? Probably. Likewise the DOW
was never in a bear market, just a correction. It actually looks locked in
a trading range now & I doubt it is going to be making any new highs in the
short term. FWIW I am too busy to watch my accounts & as proof, I failed to
put stops on my most recent buys, so I am down to zero on my fully margined
account, lost it all on my calls, & will have to drop my net service.

Just joking, for those of you who remember the list member who posted a
similar message after the great Asian crash of '98. Didn't he "bet the
farm" on Asian futures and lose it all? I am @ 12.5% down & not fretting. I
am in 7 "old techs" and 3 "new techs" that look horrible in the short term
but I am sick & tired of churning & generating commissions for SCH &
Bidwell. So I'm riding this one out. Damn the torpedos and all that.
Actually I reprioritized my life, cut out my favorite hobbies (at least cut
way down), got health conscious, and am focusing on my family and property.
Sort of a reverse midlife crisis. I have spent all of 6 hours or so on
stocks in the past month. Feels great to not sit at this PC for an hour
plus every night staring at charts & scans.

P.S. When the Motley Fool slobbers all over CHKP & it drops a load that
same day, you know all rationality is out the window. Quite the opposite of
the equally irrational reaction to their pumping of CRA a few months ago.

P.P.S. I also disagree that we should start counting all over "yet". Who
knows what will happen tomorrow but IMHO the "rally", if in fact it has
started, has not been violated as we have not  hit the previous intraday
low either on an intraday or a closing basis. The rally is not dead until
that has happened. I bet $20 the rally is dead tomorrow.

At 12:22 PM 4/12/00 -0700, you wrote:
>If I'm not mistaken, the NASDAQ is into a bear market--off more than
>20%...closer
>to 30% actually.  Also, WON says that many bear markets have 3 down legs
>with small
>rallies in between.  It is possible that we still have two more down legs
>to go.
>Also, he says that most bear markets last 6 months to 2 years.  True,
>these are
>averages and the Dow is no longer in a bear market, but it could also get
>worse
>before it gets better, and that could be soon or a long time away.
>
>Despite holding onto two NAZ stocks that have held up relatively well
>compared to
>the NAZ itself, these stocks are now approaching my original buy points--a
>sign to
>sell according to HTMMIS.
>
>Jim---

Tim Fisher, 1995 President, Pacific Fishery Biologists
Ore-ROCK-On Rockhounding Web Site
PFB Information
mailto:[e-mail]
WWW http://OreRockOn.com

- -

------------------------------

Date: Thu, 13 Apr 2000 03:09:52 -0600
From: [e-mail]
Subject: [none]

(EDT)
From: [e-mail]
Message-ID: <[e-mail]>
Date: Thu, 13 Apr 2000 00:02:02 EDT
Subject: BEAR MARKET!!!
To: [e-mail]
MIME-Version: 1.0
Content-Type: text/plain; charset="US-ASCII"
Content-Transfer-Encoding: 7bit
X-Mailer: AOL 4.0.i for Mac sub 189

O'Neil state how u spot bear market in his book "How to make money in stock
market". This is definitely it. Get off margin, wait until leader lead
market
again that is when bull market start. I hope this help.

- -

------------------------------

Date: Thu, 13 Apr 2000 06:10:12 -0700 (PDT)
From: rolatzi <[e-mail]>
Subject: [CANSLIM] Support for NASDAQ

My reading of the tea leaves are as follows.

The 200dMA is at about 3650.  Also, the previous recent
downdraft touched the 200dMA intraday.  It is a most
important level of support at this point since many
managers (i have read)  look at the 50 and 200dMA for
buying decisions.  Let's see what this morning brings.  An
early downdraft to 3650 followed by buying and recovery
would be rather optimistic.  An intraday low below 200dMA
but a close above it would also be okay.
Second, there was a channel of support until this past
fall.  If you connect the bottoms during the previous 2
years or so and exclude the stock movement since 11/99 you
get a nice straight line which reaches to around 3000 at
this time.  This represents another level of support albeit
at a much lower level than one might like.

BTW, Tom, have you noticed how well energy has held up in
this correction.  It was in fact up yesterday.  OPEC has
indicated that they will not cave in to the futures market
and is willing to support the price of oil by taking the
increase off the market.  With the reporting season here, I
expect that energy producers will blow away the earnings
estimates.  Unless the market goes really low and panic
sets in, I expect more rotation into this sector.

Good luck to all.
Rolatzi

__________________________________________________
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Send online invitations with Yahoo! Invites.
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- -

------------------------------

Date: Thu, 13 Apr 2000 23:14:29 +0200
From: Werner Vandewiele <[e-mail]>
Subject: [CANSLIM] Dow Tranportation has been rallying

I wonder why the Dow Transportation has been rallying lately. Anyone with a
possible explanation?

Regards,

<<< Werner Vandewiele >>>


- -

------------------------------

Date: Thu, 13 Apr 2000 22:09:47 -0400
From: "Tom Worley" <[e-mail]>
Subject: Re: [CANSLIM] Dow Tranportation has been rallying

Lower fuel prices, and expectations of even lower prices ahead.

Tom Worley
[e-mail]
chat with me at ICQ # 5568838
get ICQ software at http://www.icq.com/icqhomepage.html


- ----- Original Message -----
From: Werner Vandewiele <[e-mail]>
To: <[e-mail]>
Sent: Thursday, April 13, 2000 5:14 PM
Subject: [CANSLIM] Dow Tranportation has been rallying


I wonder why the Dow Transportation has been rallying lately.
Anyone with a
possible explanation?

Regards,

<<< Werner Vandewiele >>>


- -



- -

------------------------------

Date: Fri, 14 Apr 2000 09:20:39 -0700 (PDT)
From: rolatzi <[e-mail]>
Subject: [CANSLIM] NASDAQ support

Is anyone having fun yet?

The NASDAQ has broken 200dMA at 3500.  If if closes below
3500, it is likely to find support around the 3000 level.
The would be the line connecting the lows over the last few
years, before the exponential rise since last October.

Even energy is getting hit today, though not nearly as
badly as everything else.

ciao,
rolatzi


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- -

------------------------------

End of canslim-digest V2 #874
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