CANSLIM stocks to watch for Feb 19, 2003

Discussion in 'Strategy Development' started by trend_guy, Feb 19, 2003.

  1. I don't usually publish stock lists but lately there has been an interest in the CANSLIM methodology. Here are my CANSLIM stocks to watch for Feb 19, 2003...

    GRMN
    ABRX
    QSII
    DF
    VAR
    ROL
    PPP
    IDXX
    BHE

    In no way am I recommending the immediate purchase of these stocks... still looking for a market follow-through after Thursday.
     
  2. nkhoi

    nkhoi Moderator

    good if you post % up/down on weekly basic, I expect to see more than 50% stas of course.
     
  3. Does CANSLIM work during the bear markets? After all, the M in CANSLIM stands for 'market' and if the market sucks so can the method.

    Any thoughts about it?

    How do you take a position in these stocks? Do you have any particular entries? Just curious.

    I like CANSLIM, but I have not paid any particular attention to it during the last two years of the bear market.
     
  4. Thnks for post - some of these are gems.

    Pls update for us every couple months ...
     
  5. trend guy , im not familiar with the canslim method but i do know it pics out the stocks with the best fundies. but after looking at those stocks you posted, i really dont see a good time to buy. alot of them look like they are already at their peaks. just wondering because i was interested in canslim --- QT
     
  6. broke out yesterday.
     
  7. kowboy

    kowboy

    Trend_Guy

    Thanks for posting what appears to be some excellent prospects to watch. I would appreciate your commenting and sharing your feedback on my observations on three of these stocks. Perhaps your input will shed a new light on how to look at these.

    ABRX formed a nine month cup and broke above 8.5 mid November, subsequently forming what appears to be a handle and breaks out again above 9.5 the end of December. The stock is near 14 now.

    GRMN formed a 6 month cup and broke out above 22 in early December, subsequently consolidating with a handle and breaking out again above 26 in mid December. The stock is near 34 now.

    QSII consolidates in a sideways manner for 9 months to finally break out mid October above18, subsequently further consolidating and breaking out above 21 in mid November. The stock is near 26 now.

    These are all classic chart patterns mentioned in O’Neill’s book, and the first obvious buy points would have been last fall when the breakouts occurred. One could argue that the Nasdaq at the time, confirmed a buy condition as it was in an up trend, confirming a recovery over early October.

    My reason for abandoning IBD and the CANSLIM method, was that in my opinion, by the time a stock is mentioned in IBD, the stock usually had already broken out and the news was too late to get in on the breakout. As is the case for the above mentioned three stocks. Just look at some of the chart patterns featured in the print edition. The second reason for abandoning IBD was that there is no software available to the public that I was aware of where you could easily input the canslim criteria (such as EPS growth rate, RS, ROI, Sales growth rate, Industry ranking, etc.) and to easily come up with scanned results for prospects.

    So, the average investor is left with manually scanning thousands of stocks on the IBD web page and manually writing the above results on a piece of paper. Needless to say, an almost impossible job. When I discussed this several times with IBD customer service, they indicated some customer interest in being able to share IBD software in order to scan by way of the IBD web page. But nothing was ever done that I am aware of. IBD has the software, but at the time I subscribed, this was not available to the subscriber. So you are left with doing all of this one stock at a time, taking endless hours.

    I really resented what I felt in my opinion, was the attutude that "if you had done this" or "if you had done that" then here are the postive results, while at the same time not making available the scan software with the subscriber, and dribbling out what I consider late information.

    Trend_Guy, or anyone else, your input and feedback would much be appreciated. Thanks in advance.
     
  8. C&Hs- I love those, they tend to be very profitable, might look into them.
     
  9. dbphoenix

    dbphoenix

    Though I haven't looked at it, AAII has software that supposedly accomplishes much of this.

    --Db
     
  10. kowboy

    kowboy

    #10     Feb 19, 2003