Re: [CANSLIM] When to Buy

From: Spencer48@aol.com
Subject: Re: [CANSLIM] When to Buy
Date: Thu, 18 Apr 2002 11:21:10 EDT

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Katherine:

    Provocative chart and interesting comments.  But why do you believe BMS 
is in a pullback mode, and not beginning the end of a weakish uptrend?

     Your comment: "Volume is the inverse of what you would see in a 
basing..."  is not how I view it.  To me up volume seems to be overwhelming 
down volume-except at that one area in the recent nadir.  And notice that the 
nadir came at the 50 support line-so I view it as institutions supporting the 
stock.  

     However, I would agree that its uptrend is sickly and lackadaisical.  
From a chart perspective only, I'd say it is building a cup.  From a Canslim 
perspective, I'd say it's a "no-go" (Not great earnings; negative sales 
revenues; Cash-Flow is nearly twice 2001's earnings, which to me indicates 
that the company is negligent in not investing their overflow of cash).

jans




In a message dated 4/17/2002 11:24:46 PM Eastern Daylight Time, 
jl@lessnau.com writes:

<< Hi John,
 
   I'm going to go out on a limb here and say that the stock is not forming a 
base, but is currently in a pullback. See a marked chart at:
 
   http://WallStreet-LLC.com/canslim/BMS041702.jpg
 
   Katherine >>

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