Re: [CANSLIM] WDFC - Market needs a little lubrication ...

From: Spencer48@aol.com
Subject: Re: [CANSLIM] WDFC - Market needs a little lubrication ...
Date: Tue, 22 Jan 2002 22:52:43 EST

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Ian:

     I see a double bottom, but I don't view this type as the kind of 
W-formation that WON (or IBD) writes about.  This is a nice value stock (as 
far as PEG and PE go).  However, the last three quarters of minus growth 
makes me leery.  On the other hand, if it makes its projected annual EPS 
(according to DGO's figures) then it should make plus growth per quarter.  
What makes me think that the per cent growth could be in the +20's is that 
WFDC beat it's projected 2001 annual EPS.

     As far as the chart:  as I said this doesn't look like the type of 
double bottom that is a winner.  However, it is making a nice cup.   There is 
no handle, as of yet, though.  I don't believe the market is strong enough to 
propel such a chart formation.  I am a great believer in your recently 
adduced 10-day TRIN  (thanks to Katherine for sending me the smartcharts.com 
site).  Ten day TRIN is now about 1.5.  I believe that, with the market being 
what it is now, and TRIN saying that the market will shoot upwards in 20 
days, a handle will be forthcoming around the twenty day time.  

     I' think I'll put it on my Watchlist, and see what happens during the 20 
days.  Thanks for the heads up.  I think it could very well turn into a 
winner.   

jans


In a message dated 1/22/2002 4:07:33 PM Eastern Standard Time, 
pjwahl@attbi.com writes:

<< On 22 Jan 2002 at 10:43, Ian wrote:
 
 > I hesitated buying WDFC at $25.50 3 days ago when it put in a nice 
intra-base double-bottom just above its 50 day. Its catching a litle 
attention today. Opinions?
 > 
 > Ian >>

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