Re: [CANSLIM] WLP

From: Simon Yang <simoninvestments@yahoo.com>
Subject: Re: [CANSLIM] WLP
Date: Mon, 22 Apr 2002 15:18:56 -0700 (PDT)

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 Neal,
I took a simple/quick look at WLP, I did not understand why you bought at $60 6 weeks ago, I do not see any O'Neil pattern breakout there. This is a defensive play by big boys, It may drift up when the market has troubles. Personally I do not, or not yet, see big troubles of its trading, but you need to watch out. It is pretty hard for most canslim investors to make money in such market.
Simon Yang, simoninvestments.net
  Neal Frankle <nfrankle@pacbell.net> wrote: I bought this at $60 - 6 weeks ago based on:
earnings
sales
roi
good sector
(at the time of purchase ) a decent market.

The stock reversed today after hitting a 52 wk high. Volume looks like it will come in heavy but not heavier than prior three (up) days.

Is this a classic sell signal????? I have been here before, only to hold on to see my nice 20% gain evaporate.
I'd like to avoid that experience if possible. Any thoughts?

Thanks,
Neal

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<P>&nbsp;Neal,
<P>I took a simple/quick look at WLP, I did not understand why you bought at $60 6 weeks ago, I do not see any O'Neil pattern breakout there. This is a defensive play by big boys, It may drift up when the market has troubles. Personally I do not, or not yet, see big troubles of its trading, but you need to watch out. It is pretty hard&nbsp;for most canslim investors to make money in such market.
<P>Simon Yang, simoninvestments.net
<P>&nbsp; <B><I>Neal Frankle &lt;nfrankle@pacbell.net&gt;</I></B> wrote:
<BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid">I bought this at $60 - 6 weeks ago based on:<BR>earnings<BR>sales<BR>roi<BR>good sector<BR>(at the time of purchase ) a decent market.<BR><BR>The stock reversed today after hitting a 52 wk high. Volume looks like it will come in heavy but not heavier than prior three (up) days.<BR><BR>Is this a classic sell signal????? I have been here before, only to hold on to see my nice 20% gain evaporate.<BR>I'd like to avoid that experience if possible. Any thoughts?<BR><BR>Thanks,<BR>Neal<BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your email.</BLOCKQUOTE><p><br><hr size=1><b>Do You Yahoo!?</b><br>
<a href="$rd_url/welcome/*http://games.yahoo.com">Yahoo! Games</a> - play chess, backgammon, pool and more
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