Technical Analysis and Charting

Top 97. Mar 29, 1999 8:03 AM

» DanG_6 - O'Neil

Bill O'Neil is a very smart guy with, I think, a lot of integrity. I have read his book and attended one of his seminars years back with David Ryan, his since departed (not from the world, just from O'Neil's company) sidekick. I enjoyed the seminar and the book, but have had trouble putting the theories into practice. However, I'm not the only one. Bill himself has now had two failed attempts at running mutual funds using his own concepts. I'm not saying his concepts don't work, just that they haven't worked for me the few times I've tried. What normally happened was that I would buy on the breakout, then get whipsawed and stopped out. It doesn't take too many of these discouraging events to turn you off, so perhaps if I had kept on truckin' it might eventually have proved successful (if I didn't run out of money first!).
By the way, David Ryan and Bill didn't agree on PE ratios either, David preferring lower PEs to higher ones.
- Dan

-- posted by DanG_6

Top 98. Mar 29, 1999 7:15 PM

» TONYBRIG - Just Maybe

No I dont buy necessarily after an Analyst recommends it unless
I like the STOCK to start with and was waiting for a POP.
They run up with the rite TOUTING, then I jump out.
Whats wrong with that? I'll take it!

Tell me Hugs the next time AOL is raised to a strong BUY.......
yagonna short it?

Is Alger such a bad guy to follow and use as a MOMENTUM HELPER?
He mentions many Co's in the latest Barrons.
Amazon.Com is one of them. He goes on to say that they keep plowing $
back into Advertising to build a strong base. Whats wrong with that?
They aint looking to grow their earnings rite now. Of course they
are going to have a high or no P/E. Brinker was BASHING them for
a long time and has finally stopped. He was wrong. This Co. is
SMART! So I should threw them out cause of high P/E's?
GET REAL!!

No Dan I dont look for that one LONG-SHOT. I look and get many
of them. So do MANY other Traders and lots of them BIG-TIME.
I try to align myself with WINNING Co's and dont like to cloud my
thoughts with a DUMB indicator such as P/E.

My picks are somewhere on this thread and speak VERY well.
I dont have too many losers. Only IBM recently. Even they are
starting to KICK-IN. I dont also consider myself a NOVICE.
A PRO in my estimation gets all he can/when he can.
I dont believe in that dont be GREEDY B/S. I believe in WINNING
all one can. There will be losing times so get it while you can.

Not that I dont appreciate help on T/A. I do! Just dont want the
P/E platter one.

That's what works for me. I learned from O'Neil. Founder of IBD.
Isn't he a good enough teacher? He feels P/E ratios are not important as a measuring indicator! You want to call him a NOVICE?
Look at his product> Investors Business Daily.

Why is it that when one WINS with a different method
he gets knocked.

Maybe the NUT MANIA'S are SANE'IAS after all.
And maybe there will be no MELT-DOWN.
And maybe DAY TRADERS are here to stay.

Just Maybe...............................

And maybe someday this NOVICE can teach the PROS something.

And maybe some days it is the PUBLIC that is distributing shares to the SO CALLED PROS.

JUST MAYBE!

BOLHH

-- posted by TONYBRIG

Top 99. Mar 29, 1999 8:53 PM

» Hugs - shorts ?

No doubt TA's good for some shorts, but just the thought of being short a nut can make you hurt between the legs.

Heard that many a short has given blood at the altar of Amazon. Never been there, don't plan to be either.

Seems tech stocks seem to get smacked around the most by analyst opinions. (only short the ones you don't like though. Sometimes they got teeth.)

-- posted by Hugs

Top 100. Mar 29, 1999 8:56 PM

» DanG_6 - It ain't what you make, it's what you keep

Tony, I think you have the potential to make lots of money. I somehow have that feeling though, that if you don't lose just a little of that swashbuckler, cavalier attitude, you won't keep much of it. But I do wish you well and enjoy your thoughts.
PS-I said O'Neil is a very bright guy, and his paper is a great success. I also said both of his mutual funds failed. So figure that one out.
I won't mention PEs again. First of all, they have nothing to do with technical analysis. And second of all, my head is starting to hurt from constantly banging it against a wall!
Have a good one.
- Dan

-- posted by DanG_6

Top 101. Mar 30, 1999 5:56 AM

» TONYBRIG - 100 STATS

Well we have 100 posts on this thread.
Not bad for a good start.
Thanks Dan-Will add Cavalier & Swashbuckler to my data base for a future POEM.
I agree could lose it fast but then could make it
rite back.
Dont understand Oneil Funds losing. Maybe he aint
personally doing it.
Could you give me the names of them maybe they
need some Swashbuckler guy to help them.

BOLHH

-- posted by TONYBRIG

Top 102. Mar 30, 1999 8:24 AM

» DanG_6 - O'Neil Fund Names

Tony, the name of the first O'Neil fund was, surprisingly, the O'Neil Fund. The second and most recent one was New USA Fund. They no longer exist and so are, I'm afraid, beyond even your help. (Actually the New USA Fund may have been merged into some other fund, as someone on "that other thread" said. Don't know for sure.)
If you are using O'Neil's strategy, are you using ALL of it? That is, are you limiting losses to 7 or 8% of your purchase price? If so, you will probably eliminate any single large losses (barring any gap openings to the downside), but you may get discouraged at being whipsawed time after time as I was, especially if you are concentrating on extremely volatile stocks. But if you DON'T limit losses, I can almost guarantee you you will eventually wind up with a portfolio of "losers" after trading for awhile as you take profits on the winners and hang on to the losers. Hope you don't make that mistake.
The other thing about O'Neil's strategy is that you have to watch a huge number of charts in order to pick out the potential "cups and handles", etc. He does try to take some of the work out of that by including chart profiles in his newspaper of stocks that have supposedly just broken out of these patterns and haven't risen more than 15% above the breakout point. I've found though, that he doesn't really hold to that criteria in actual practice, as I've seen charts in those profiles of stocks that are far extended beyond 15%. (I wrote to IBD once and asked about that, but got no response.) So even though you get 30 hand picked NYSE stock charts and also about 30 Nasdaq charts daily in IBD (as well as 30 more "cream de la creme" charts in the Friday Weekend Review), you will still have to cherry pick the ones that REALLY fit his criteria. It's do-able, but not as easy as IBD makes it sound. Good luck on your approach, whatever it finally winds up to be.
- Dan

-- posted by DanG_6

Top 103. Mar 30, 1999 6:18 PM

» TONYBRIG - System

Dan:

Thanks for the names Input, needed an additional Screen Name.
CAVALIER SWASHBUCKLER is great for me to use on some sites.

As you probably know by now I'm a SYSTEMS man in addition to
the MOMENTUM that I use.
Have a basis for a good system which has to do with a stock
breaking over 90. It seems to me that usually they then break
100. Do you have any STATS on this? Is there a site I can
visit for this info?

OH- Is there a site which gives the divisors and Co's in all
the different averages. Trannies, SOX etc?

BOLHH

Will reply more fully to your Oneil recent post.
But for now no I'm not using all of it and I
cheat alot but still works OK for me.

He says to stay away from large cap'd stocks
which I dont do.

-- posted by TONYBRIG

Top 104. Mar 30, 1999 10:16 PM

» DanG_6 - Stocks over 90 go to 100?

Tony, surely you're putting us on about this one, so I'll just skip over it.
As for components and divisors of averages, I'd search for a Dow Jones web site for the industrials, transports, etc, and frankly I don't even know what SOX is. (I prefer to go barefoot. ha-ha).
- Dan

-- posted by DanG_6

http://www.techstocks.com/~wsapi/investo...

Top 105. Mar 30, 1999 10:31 PM

» Karin - Good chart with multiple input

-- posted by Karin