$$$MR. MARKET$$$ Banned by IBD

[billyjoe]

I just asked IBD why they can't spend some of that big canslim $$ and get quotes that aren't 20 minutes old. Now they're having technical problems and I can't access anything except for the forums. I have a feeling that when I sign off I'll never get on again.

billyjoe

[IIC]

I just asked IBD why they can't spend some of that big canslim $$ and get quotes that aren't 20 minutes old. Now they're having technical problems and I can't access anything except for the forums. I have a feeling that when I sign off I'll never get on again.

billyjoe

They always have technical problems when they offer free access to the public...which they are doing this week.

They have streaming Real-Time at DailyGraphs for stock charts(eSignal data)...but Screens, Stock Lists and Groups are not R/T until you click an individual stock...Which I would be willing to pay quite a bit for(Groups). So I have to use somebody else's groups (MarketGauge's)...Doug(IIC)

[IIC]

Doug,
I didn't take it too personally, I just couldn't resist
the urge to razz a bit. Trust me....it's usually pretty
easy to know when I do take it personally.
I would like to hear the story when you have
the time.


Now Lye,

About that dude comment............ ROFL


Since you guys have wounded me you can help me out.
Go to the "education and market wisdom" forum and help
me out. I posted a ? but so far no help. Believe it or not
it's a legitimate question and I'm not "off my meds".

Thanks
Shadow

This is the way I see it...First of all, I don't have a problem with the basic Canslim theory...although I don't pay any attention to the EPS ranking. I prefer current EPS and projections...I could care less what a co. did 3 yrs ago...I want to know what it will do tomorrow. I also believe in following market direction...but not the way IBD tries to determine it.

But that's not the point. The problem I have is the company itself...They have the paper...then Dailygraphs...OK...I subscribe to both...But then they have all these little add-ons...E-Tables, Smart whatever...Overpriced seminars...Heck, by the time Joe and Jane Canslim pay for all this stuff...they don't have any money left to invest. IBD nickels and dimes you to death. Of course, it is their business and they can run it the way they want...But I don't have to buy it.

Anyway...when their forum first started I read a lot of the posts...I don't know how many times I would read about people who were sold on exact pivot points, distribution days, EPS rankings and all this other BS. They thought that if they followed CS to a "T" that they would all of a sudden be great investors. How many of them are still active in the Forum???...Bet not many...Have you ever heard Bill O'Neil speak? He talks like CS is the only way you can ever make it...C'mon!!! There's a heckuva lot more to being a good investor than Canslim.

Then these classes...$179, $795, $2,995, $6,995...Heck, I'll teach you more than you ever wanted to know about Canslim for less than that. I was a pretty strict Canslimmer for over 20 years up until 2000 when I realized it wasn't up to date especially as far as being adaptable to volatility.

I have no problem with someone who uses basic CS principles as a guide...But anyone who follows it to the letter will only do well by luck IMO. It is not the Holy Grail that IBD presents...In fact, they probably know that...Look what they've done...Big Cap features, Under $10 lists now...Wait...That's not Canslim!!! Of course, they just do that to try to sell more product...which I have no problem with...But isn't that a bit confusing to the New Canslim student???

And as far as their Forum...Why don't they pay to have a moderator to guide things along? I've publically offered to accept the job for $250,000 yr...But the phone ain't ringin'. heck, I moderated the old Yahoo CanSlimStock Picks group for years with over 1,600 members...so I have experience...Although, to be honest...I'm the reason that the group fell apart...People didn't want to hear about all my Canslim bashing...I know that.

Then I have a problem paying all this money to IBD and they have a bunch of employees who have absolutely no idea what they are talking about...I've posted about the last 3 Trader's Expo's I went to...The latest one in December...They have these people working their booth that don't know the first thing about the products...You can rest assured that nobody who was around their booth bought anything when I was around...After hearing the nosensical anwers to my questions these these people were probably wondering to themselves..."What the heck is this all about"??? But I was just havin' a little fun. At the Chicago Expo they gave us a free book just to get rid of us...LOL

Well, I'm rambling...But as Mr. Market says..."There's more than one way to skin a cat"...And if you read what some of the members around here have to offer...You'll soon come to realize that...Best and welcome to the forum...Doug(IIC)

[Shadow]

Well, I'm rambling...But as Mr. Market says..."There's more than one way to skin a cat"...And if you read what some of the members around here have to offer...You'll soon come to realize that...Best and welcome to the forum...Doug(IIC)

Thanks Doug for taking the time to explain.

I have discovered a lot of what you mentioned so I
guess you could say I'm not a strick Canslim follower
myself. I am still working on a trading style and my
education. Nothing like some serious losses to prompt
a person to learn all they can! I vow to never be that
ignorant again and I'm taking charge of $ myself!

Any recommendation on education / books?

I have read many books; a few are:
_Stan Weinstien
_all of WON's
_Toni Turner x 2
_ David Nassar
_ Stav

and actually a few more that I can't recall right at the moment.

The bookstore shelves are full but it's very hard to tell which are
the better ones. Any recommendations?

Thanks
Shadow

[IIC]

Thanks Doug for taking the time to explain.

I have discovered a lot of what you mentioned so I
guess you could say I'm not a strick Canslim follower
myself. I am still working on a trading style and my
education. Nothing like some serious losses to prompt
a person to learn all they can! I vow to never be that
ignorant again and I'm taking charge of $ myself!

Any recommendation on education / books?

I have read many books; a few are:
_Stan Weinstien
_all of WON's
_Toni Turner x 2
_ David Nassar
_ Stav

and actually a few more that I can't recall right at the moment.

The bookstore shelves are full but it's very hard to tell which are
the better ones. Any recommendations?

Thanks
Shadow

To be honest I have not read that many stock books...I've read 4 of WONS...When How to... came out, I read it 7 times within a year. I read Toni's Beginner's Guide to Day Trading Online.

Also, and this book is pretty basic...But I liked it...here is an excerpt from my Mr. Breakout site (currently on hiatus since late Sept.) that I posted in October 2004:

There seems to be a lot of confusion regarding the Cup w/ Handle pattern and pivot points. I don't really know whose description is correct or if there really is a correct answer. The earliest reference I can find to this pattern is in a book called How Charts Can Help You In The Stock Market, By William Jiler, 1962. However, he describes it as a Saucer w/ Platform...but it is the same pattern.

Here's a few sites that offer C w/ H descriptions.
http://www.chartpattern.com/cup_handle.html
http://www.haikulabs.com/mh.htm
http://baresearch.com/education/technical_analysis/chart_patterns/continuation/cup_handle.php


O'Neil did not discover the Cup w/ Handle pattern as many believe...He just renamed it...A few years ago I tried to get everyone to use the S w/ P term...But it never really took off...I also ran a poll at a couple of other forums to rename Pivot Point...The winner was Flash Point with Action Point a close second...But again, guess I don't carry that much weight to change the world of investing...LOL...Doug(IIC)

[DSteckler]

Shadow, when you're ready to go beyond CANSLIM (which no longer works, IMO), head over to TradingMarkets.com and check out some of their books. The entire site is self-serving but the books are very informative. Dave Landry's books are excellent.

[IIC]

And another thing I don't like...How come I pay these guys 1,500 bux a year and every time I want to go to a different page I have to see this "Become a more successful investor in a single day" advertisement???...Then I have to click "Take me to the requested page" every time. Extremely annoying. I wouldn't mind this at a free site...but this is ludicrous...Doug

[IIC]

Here's an interesting read...it is for day trading but it is free. It is called "Trading The 10 O'clock Bulls"...it is 72 pages...1.334mb.

I will try to attach it here...but the attachment might not work...if it doesn't work then you can sign up for it here:

http://scans.marketgauge.com/GetOReBook_step1.asp

Oop's...tried to attach it but the file is too large...Doug(IIC)

[Shadow]

Thanks Doug and Dave!

I appreciate the tips. This is the kind of help I need very much.
I appreciate all the stock tips on this site but I also want to
"learn to fish". I'll check all this info out.

Shadow, when you're ready to go beyond CANSLIM (which no longer works, IMO), head over to TradingMarkets.com and check out some of their books. The entire site is self-serving but the books are very informative. Dave Landry's books are excellent.

I guess I must be beyond CANSLIM already. I have not purchased
a single stock that met the CS criteria. I'll check out the books!

Keep the ideas and tips coming!
Shadow

[IIC]

No problem...but just remember...make changes slowly...You can take ideas you find from others and see if any of them might fit what you are trying to do...test them out...but develop your own style that you are comfortable with. I'm constantly reading other people's thoughts to see if they offer any ideas I might be able to use...But NEVER EVER try to copy someone...It never works...At least it never worked for me.

For example...I trade different styles depending on the $$$ amount and the goal on that particular trade. Some people trade the exact same way all the time...I personally know of no one who wants to day trade some of the ways I do. That doesn't mean there isn't anyone...It just means that I don't know them. Sometimes I think to myself..."Why not just trade news"? I almost always make money on news plays...Most of them last less than 5 minutes...But I've never had the guts to throw BIG bux at news...At least not yet...Best, Doug(IIC)

[Runner]

One of the best books I’ve read is called “Trade Your Way To Financial Freedom”, by Van K. Tharp. This book is a study book and not an easy read. It does not cover a bunch of fancy set-ups but explains one of the most important aspects of trading. In fact Tharp even mentioned that the set-up is 10% of the trade. He will explain how to manage your positions using several techniques. Many will shy away from this topic because I guess they feel it just isn’t important. Money management is by far the most important aspect in trading as far as I’m concerned.