C-A-N-S-L-I-M...Using O'Neil and his methods... Message Board

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Strategies & Market Trends : C-A-N-S-L-I-M...Using O'Neil and his methods...

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To: White Shoes who wrote (329)	1/15/1997 11:31:00 PM
From: Ray Jensen	of 344

GS, although Cliffs was my hero stock of '96, I got hammered right before New Years by what I thought was a textbook Canslim buy. I spotted SEMX in November - it was loaded with Canslim features: low debt, good earnings growth, not too many shares, etc, etc. Bought some shares at around 15 in mid December. A few days later it was up around 17. SEMX was even featured in IBD's "New America". On Dec 30, while I was on a holiday trip, SEMX announces that its 4th quarter earnings would be much less than estimates. Slam! It was down to 10 in 2 hours. Ouch! Luckily, my oil stocks took off a few days later and wiped out the loss in no time. But my lesson learned is never get too over confident about a decision to buy, no matter how well the Canslim stuff works. Canslim works much of the time for many people, but not for all the people all of the time. < Earnings pretty much drive the market, don't they> Such an understatement, GS. Ray J.

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