Has anyone implemented the CAN SLIM investing strategy?

The CAN SLIM strategy is a well-known stock trading method developed by William J. O’Neil, founder of Investor’s Business Daily. This method combines both technical and fundamental analysis to help investors identify top-performing stocks. Here’s a breakdown of the CAN SLIM acronym:
C – Current earnings: Focus on companies with substantial current earnings per share increases over recent quarters, ideally 25% or more.
A – Annual earnings growth: Look for companies with a strong annual earnings growth rate over the last five years. The principle here is to favor companies with consistently increasing earnings.
N – New product, service, or management: Companies making significant innovations, adopting new technologies, or undergoing key management changes often experience positive stock performance.
S – Supply and demand: The strategy emphasizes buying stocks with a limited number of shares (low supply) and significant institutional demand. A stock with fewer shares available can see price increases with strong buying interest.
L – Leader or laggard: Concentrate on the best-performing stocks within leading sectors. Avoid “laggard” stocks in declining industries and always prefer stocks that outperform their peers.
I – Institutional sponsorship: Tracked by the amount of institutional buying and selling of a stock. Stocks heavily invested in by mutual funds, banks, or other large entities are often preferred due to their ability to propel stock prices.
M – Market direction: Understanding the overall direction of the market is critical. Stocks tend to perform well in a strong market but struggle in bear markets. This involves timing your entry and exit according to market cycles.

If you have experience using the CAN SLIM strategy, many traders have found it invaluable for identifying promising stocks, though it requires time and diligence to analyze the necessary components effectively. Remember also that like any strategy, it involves risks, and it’s important to tailor it to your individual trading style and risk tolerance.