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Thanks for the insight...I am trying to get into the
Intermediate term trading myself. I am trying to
implemen the Kuhn/Marder Course into my trading...I
actually did pretty well with a couple of trades
before the market went south.
To bad Greg Kuhn left TradingMarkets I use to enjoy
reading his commentary. You cant take anything away
from Boucher and Marder though,both are great
educators. I haven't perfected this CANSLIM stuff
yet, but am still learning.
JS
--- Gitanshu Buch <onwingsofeagles@xxxxxxxxxxxxx>
wrote:
> > If anyone has a better method of scanning for
> CANSLIM prospects, I am all ears.
>
> a. Within Daily Graphs under Reports, scan the foll
> every weekend:
> - Weekly New Highs report. This carries new highs
> printed previous week thru Fri and gives Excel
> exporatable stats/tables on % off high, % 50 day avg
> volume etc.
> - Top 100 NYSE ER & Top 100 Nasdaq ER stocks
> - Stocks moving up in the different non-RS and
> non-ER ratings
>
> Basically I export all the reports into excel,
> filter out the stuff with any rating at C or lower,
> sort on combined EPS + RS rank, and throw out stuff
> under 180. Then I eyeball the remaining list
> individually to make a watch list for next week.
> Takes me thru about 300 charts but is much faster
> than the printed product, which I've stopped using.
>
> b. IBD (the print product) boldfaces stocks printing
> new highs on 1.5x 50 day avg volume. The boldfacing
> is not done on the New Highs page but individually
> in the NYSE and NASD pages. I write down the list on
> a pad every AM over coffee - takes about 20 mins -
> and cross-verify with the Daily Graphs pictures.
>
> In a runaway bull market the lists are longer than
> the portfolio can accomodate. In an unstable market,
> the lists are more patchy and less concentrated per
> sector. While subjective, the person eyeballing
> these lists/charts gets a good feel for the tenor of
> the tape.
>
> c. There is one other place where - if you trust
> MyTrack data, most of the above can be automatically
> done with a few mouse clicks and keystrokes:
>
> www.TradingMarkets.com (a commercial site with a
> free trial for new people) has a couple of places
> where one can datamine:
>
> - The Stock Scanner where one can specify the ranges
> of ER and RS (and other stuff like ADX, distance
> from popular moving averages, volume bursts etc)
>
> - Under Stocks ---> Indicators page, look for Mark
> Boucher's Top ER + RS list in the Uptrending
> section. This gives you what the stock screener
> would, if you wanted to do it yourself. For me this
> page serves as a crosscheck for the coffee pad list.
>
>
> If the RS/ER doesn't match IBD's RS/ER, don't drive
> yourself too crazy. TM uses a larger, all-stock
> universe whereas IBD uses an exchange-specific
> universe.
>
> Once you have these lists, you go to Daily Graphs &
> eyeball the charts. Doesn't take too much time
> daily, once one sets up the rhythm.
>
> Like John does, one still needs to setup the
> buy/stop alerts in one's datafeed.
>
> I'm sure there are other places (like bigcharts.com)
> which list New Highs lists daily.
>
> While at TM, one may want to peruse Mark Boucher's
> archived commentary and Trading Courses - as well as
> those of Kevin Marder & Greg Kuhn. All of these
> people run their hedge funds using CANSLIM as the
> launching pad of pattern selection, but each has
> their own little twist to the trades they actually
> put on.
>
> Hope this helps.
>
> Gitanshu
>
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