CANSLIM stocks to watch for Feb 19, 2003

Quote from dbphoenix:



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

--Db
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There are scans in QuotesPlus2 that can accomplish about the same. QP2 is about $30 a month.
 
Thanks DBPhoenix,

I just talked to AAII, both products already have the CANSLIM method preprogrammed in and the user has the ability to change the criteria. Stock Investor Pro is a monthly update for $198 per year, the other is $99 per year with quarterly updates.
 
ibd has listed of stocks at the end of the week that can be used to start a tracking list. also, there are charts in the second 1/2 of the paper each day.

seems to me that just starting with stocks breaking out to new 52-week highs (in this market) with higher than average volume would be a great place to start to look for longs.

just a thought
 
Kowboy,

IBD does offer scanning/screening software. Part of the Daily graphs package. Cost is about $100/month or $1000 for the year... works well.

Look for the three stocks you mentioned to base again and then break out with the market again... if the market decides to follow-through! Stocks that have a high Relative Strength rating in a bear market usually make for nice uptrends during bull markets.

IBD's "The Weekly Review" is a great place to start looking for good breakout candidates... it is printed every Friday in IBD's weekend edition.


Quote from 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.
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