RE: [CANSLIM] UTSI

From: "Dave" <drubin@i-2000.com>
Subject: RE: [CANSLIM] UTSI
Date: Wed, 16 Jan 2002 18:54:46 -0500

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Thanks for the input.

Well I did sell near the close when it pierced its 50-day.

Of course, news after the bell sent it soaring up a point after hours.
Sometimes you just can't win.


> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Spencer48@aol.com
> Sent: Wednesday, January 16, 2002 5:29 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] UTSI
>
>
> Dave:
>
>      To me the day chart looks to be in the beginning of an H&S
> (even the
> volume confirms on the left shoulder and head).  This is a
> reversal pattern.
> According to the formation (in this case it is an upward
> slanting H&S) once
> the neckline is met (and the 50 MA is a good support line), the
> stock should
> rise to another shoulder (on low volume), whereupon it should
> then plummet to
> the neckline again-equaling a distance from the top of the head to the
> neckline.
>
>      To me the market seems weak (I agree with Tim that the
> mkt. is weak, and
> even though interpretations of what the Market is saying can differ,
> currently-in my opinion-there is no real room for contrary
> opinion (contra to
> what Katherine suggests).  The market is-in my view-obviously
> weak (even in
> today's IBD, The Big Picture points out "...the mixed volume
> restrained gains
> [of Tues] reflected a Market lacking conviction.  Stocks
> generally didn't
> bounce back with the same intensity of their sell offs"; and
> Tuesday's Big
> Picture says: "...Even more bothersome [than Monday's
> distribution]?  Sellers
> whacked some leading stocks.  More often than not, the market's
> strongest
> names had taken the previous down days in stride."
>
>      I believe we are entering a short-term bear.  This will cause the
> bull/bear investment advisors to be much more pessimistic in
> their sentiment.
>  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 let
> a profit turn into a loss), the support and neckline seem to be
> at 26-a point
> below the rising 50 MA.  I'd put in a sell at 26.1 (According
> to Weinstein
> many investors sell at the whole numbers-that's why I'd put my
> sell in at 10=A2
> above 26).  I believe (if the H&S transpires), it should rise
> again to about
> 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,
> drubin@i-2000.com writes:
>
> << UTSI tanking, and against the trend of the Nasdaq. It's
> approaching the 50
>  day moving average. Will it find support there, or tank
> further? Most of
>  my gains have been wiped out. >>
>
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