I find it confusing why anyone would pay for investment advise considering the resources available on the internet....for FREE. I've never used Zanger, but how much better could he be than.....say Tim Knight's site? For that matter, how many more clear and objective setups could he post than what I provide on my poor, pathetic blog. (http://actionpointsta.blogspot.com/). The info is out there. I'll be interested to hear some feedback, because I'll be the first to subscribe if it's actually worth it. T http://actionpointsta.blogspot.com/
IBD and Canslim is a good place to start, but if you close your eye's and try to make it a mechanical system you will get hurt. For example, if you buy the top stock in the IBD100 all you really doing is being pretty sure of buying the most extended stock in one of the most overloved groups. Your much better off looking at New America issues that meet the or come close to meeting the core set of criteria. Also, as for the mutual funds they are a VERY POOR guide for telling you HOW YOU COULD DO trading CANSLIM. The reason for this is that mutual funds have a lot of rules they must follow with regard to diversification, not being in cash etc. For example, a true 100% Canslim follower will stay out of the market's when its in "correction mode", the mutual funds based loosely around CANSLIM do not have this option as most of them have to be AT LEAST 70% invested at all times.
What I did with my paper trade portfolio (through Investopedia.com's portfolio simulator) was look at the IBD 100, and bought tons of the pics. I'd say about half of them. This was about 4 years ago. I didn't just pick out a couple stocks out of the IBD 100, paper trade it, and then say it doesn't work. The results were very bad. For me, results were conclusive.
The picks I used from my paper trades were from the IBD 100 of April 28, 2006 (which I still have in PDF). That period was definitely not a bear market. I'm just here to tell the truth about IBD. If it works, great. But the fact is, if professional money managers can't even make money using the CANSLIM system (which I agree has some valid points), how is the average trader? For any of you who have actually seen the numbers of the CANSLIM funds, you'll know what I mean.
You are dead wrong my friend! Some of the biggest and fastest money i made was shorting the very top hottest stocks in IBD 100.... especially when earnings came out.... It was a no brainer.... If the numbers met..... stock would sell off..... if numbers missed...... stock would take HUGE dive..... ...... i loved those highest ranked stocks in IBD.......... (sadly ....too many bears have gotten in on this gig.... shock and awe from big move not really there like before)
another fine example that anyone with the ability to type and can use a mouse can post, regardless of how stupid or deluded they are...
lol. I stand corrected. That's so true. Looking at the wreckage of those IBD 100 picks, I thought, I would have made tons of money by shorting these things.
IBD's methodology is just a starting point. You have to take some of their underlying principles and add additional technical/fundamental expertise in with it. There are many underlying principles that O'Neill gives that are solid imo, but you can't expect anything out of the box. Also: O'Neill writes clearly that his methods only work for uptrending markets.
lol ........... thats a good one!! Funny think about uptrending markets ...... makes most systems and methods work sweet I have a lil parakeet that can scratch a couple of lines and annotations in the bottom of his cage..... when applied to stocks in an uptrending market, it too works very well.