Re: [CANSLIM] UTSI

From: Spencer48@aol.com
Subject: Re: [CANSLIM] UTSI
Date: Wed, 16 Jan 2002 17:29:03 EST

Previous Article (by Author): Re: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100 "Katherine Malm"
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Dave:

     To me the day chart looks to be in the beginning of an H&S (even the=20
volume confirms on the left shoulder and head).  This is a reversal pattern.=
 =20
According to the formation (in this case it is an upward slanting H&S) once=20
the neckline is met (and the 50 MA is a good support line), the stock should=
=20
rise to another shoulder (on low volume), whereupon it should then plummet t=
o=20
the neckline again-equaling a distance from the top of the head to the=20
neckline.

     To me the market seems weak (I agree with Tim that the mkt. is weak, an=
d=20
even though interpretations of what the Market is saying can differ,=20
currently-in my opinion-there is no real room for contrary opinion (contra t=
o=20
what Katherine suggests).  The market is-in my view-obviously weak (even in=20
today's IBD, The Big Picture points out "...the mixed volume restrained gain=
s=20
[of Tues] reflected a Market lacking conviction.  Stocks generally didn't=20
bounce back with the same intensity of their sell offs"; and Tuesday's Big=20
Picture says: "...Even more bothersome [than Monday's distribution]?  Seller=
s=20
whacked some leading stocks.  More often than not, the market's strongest=20
names had taken the previous down days in stride."

     I believe we are entering a short-term bear.  This will cause the=20
bull/bear investment advisors to be much more pessimistic in their sentiment=
.=20
 I believe after this condition arises than the Market will again take off.

     As for UTSI, depending on where you bought it (per WON:  I would not le=
t=20
a profit turn into a loss), the support and neckline seem to be at 26-a poin=
t=20
below the rising 50 MA.  I'd put in a sell at 26.1 (According to Weinstein=20
many investors sell at the whole numbers-that's why I'd put my sell in at 10=
=A2=20
above 26).  I believe (if the H&S transpires), it should rise again to about=
=20
31-32.  I'd sell it then (especially if it rose on low volume).

jans

In a message dated 1/16/2002 2:50:54 PM Eastern Standard Time,=20
drubin@i-2000.com writes:

<< UTSI tanking, and against the trend of the Nasdaq. It's approaching the 5=
0
 day moving average. Will it find support there, or tank further? Most of
 my gains have been wiped out. >>

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Previous Article (by Author): Re: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100 "Katherine Malm"
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