Thread by @ThePupOfWallSt

CAN SLIM was developed by Investor's Business Daily founder William O'Neil.

Current Earnings
Annual Earnings
New Product
Supply & Demand
Leader or Laggard
Institutional Sponsorship
Market Direction

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1/ Key Takeaways

- The CANSLIM method looks for stocks with high growth potential.
- Must meet the 7 CANSLIM criteria
- Buy stocks in bases and attempts to cut losses short and let profits run
- Buy stocks before large institutional buying

2/ Here are some rules from William O'Neil

- Don't buy cheap stocks. Avoid stocks under $15
- Respect the CANSLIM rules
- Leave your ego at the door, the market doesn't care
- Don't buy bottoms or average down
- Cut losses at 7-8%
- Have specific sell rules

3/ Additional Rules

- Buy stocks with a relative strength of 85 or higher
- Look for "new America" vs laggard "old America" companies
- The stock should have ownership by top management
- The general market should be in an uptrend

4/ Additional Rules

- Watch for companies that recently announced they are buying back 5%-10% or more of their common stock
- The company should have an excellent new product or service that is selling well
- Learn to read charts and recognize proper bases and exact buy points.

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