Re: [CANSLIM] Got hammered on ELTE

From: "Patrick Wahl" <pjwahl@attbi.com>
Subject: Re: [CANSLIM] Got hammered on ELTE
Date: Mon, 11 Feb 2002 20:29:50 -0700

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If you took a 20% loss, I figure you must have bought on the breakout of the 4 week 
base that formed through Jan.   I think that base is too short, especially in this 
questionable market environment.   Apart from that, I don't see anything in the chart 
that would have given a hint of this, no obvious sign of distribution, to me anyway.

I think you get more of a warning sign looking at the last 10 quarters or so of 
earnings, where there were some good quarters, then a few quarters where losses 
were reported.  The accelerating earnings and sales of the last 3 quarters is a very 
good sign, but you would at least have to be careful given that up and down 
earnings history about holding across an earnings release.  Don't quite know what 
the proper approach is on holding across an earnings release.  If you aren't willing to 
hold through earnings, you obviously never hold a stock longer than 13 weeks.  

I guess the answer is you had a little bit of bad luck, you need to be aware that if a 
stock is going to get bombed, chances are good it happens on an earnings release 
(or a warning about an upcoming quarter's earnings), and you have to decide if you 
want to hold or sell ahead of the announcement.

both of your other stocks look pretty good, chart-wise.  

On 11 Feb 2002 at 18:59, Warren Keuffel wrote:

> I got hammered on ELTE today.  It was doing well (or so I thought) and 
> then it gapped down today and I ended up closing out my position with a 
> 20+% loss.  Is there something I should have noticed that would have 
> warned me to close out my position earlier?  
> 
> Any thots on PFGC or DLX breaking down as well?
> 
> Thanks,
> Warren
> 
> 
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