Friday, May 18th, 2007
10 tactics and secrets from growth investing guru Dan Zanger
As I mentioned I’m researching CANSLIM trading guru Dan Zanger. Here are ten of his tactics and secrets to success taken largely largely from this interview.
1. Zanger buys stocks with good fundamentals: fast-growing companies in leading industry groups that dominate their market
2. He uses AIQ Software and scans up to 1,400 charts each night
3. Some 99 per cent of his profits are from going long and buying stocks (as opposed to short selling them)
4. He spends 12 hours each day watching the market
5. His buys off chart patterns including: bull flags; high-level channels; horizontal channels; cup-with-handles; and, descending channels
6. Zanger scales his buying in three lots, first taking 30-50 per cent of his expected total position, then moving to 75 per cent. He buys the remaining 25 per cent four to five days later
7. He sells stocks when they move back to where he bought them
8. Zanger can stalk a stock for up to two months waiting for a suitable entry points
9. He places a lot of emphasis on volume and following institutional buying
10. Zanger wiped out a number of times before his success but he never gave up
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