Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] WLP
Date: Tue, 23 Apr 2002 08:24:59 -0500
Previous Article (by Subject): Re: [CANSLIM] TASR B/O, foretelling the tale Ian
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Hi Neal,
Entering while WLP was in an uptrend instead of breaking from a =
well-defined base wasn't "kosher" but that doesn't mean you have to =
throw out the baby with the bath water. You should have an exit plan in =
place when you make each entry. If you enter in trader mode, you should =
probably exit in trader mode. If that were your tactic, then you would =
have sold WLP when it popped out of the well-defined upward channel at =
the end of last week. The trader would then re-enter once the stock had =
found support in the low part of the channel again.
See a chart at http://WallStreet-LLC.com/canslim/WLP(1)041902.jpg
If you want to look at it from a CANSLIM perspective, then the best =
thing to do is look at the evidence in the price/volume chart and in the =
action of other stocks in the same industry. Interestingly, I would =
disagree with Simon that this is a defensive play. Pull up 5 year charts =
of any HMO and see what I mean. There is no cyclicality in the charts. =
Add that to the fact that medicals are often a growth area and that the =
sector has been doing well coming out of the Bear, and I think you're in =
the right arena, just got there a little late in the chart. I've put =
some comments on WLP's P/V chart and you can see them at:
http://WallStreet-LLC.com/canslim/WLP(2)041902.jpg
Katherine
----- Original Message -----=20
From: Neal Frankle=20
To: canslim@lists.xmission.com=20
Sent: Monday, April 22, 2002 7:21 PM
Subject: Re: [CANSLIM] WLP
thanks Simon. I bought it because it had most of the components of =
CANSLIM but granted - not the technical chart pattern.
I agree with your comments.
Neal
----- Original Message -----=20
From: Simon Yang=20
To: canslim@lists.xmission.com=20
Sent: Monday, April 22, 2002 3:18 PM
Subject: Re: [CANSLIM] WLP
Neal,=20
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.=20
Simon Yang, simoninvestments.net=20
Neal Frankle <nfrankle@pacbell.net> wrote:=20
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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charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2600.0" name=3DGENERATOR>
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<DIV>Hi Neal,</DIV>
<DIV> </DIV>
<DIV>Entering while WLP was in an uptrend instead of breaking from a=20
well-defined base wasn't "kosher" but that doesn't mean you have to =
throw out=20
the baby with the bath water. You should have an exit plan in place when =
you=20
make each entry. If you enter in trader mode, you should probably exit =
in trader=20
mode. If that were your tactic, then you would have sold WLP when it =
popped out=20
of the well-defined upward channel at the end of last week. The trader =
would=20
then re-enter once the stock had found support in the low part of the =
channel=20
again.</DIV>
<DIV> </DIV>
<DIV>See a chart at <A=20
href=3D"http://WallStreet-LLC.com/canslim/WLP(1)041902.jpg">http://WallSt=
reet-LLC.com/canslim/WLP(1)041902.jpg</A></DIV>
<DIV> </DIV>
<DIV>If you want to look at it from a CANSLIM perspective, then the best =
thing=20
to do is look at the evidence in the price/volume chart and in the =
action of=20
other stocks in the same industry. Interestingly, I would disagree with =
Simon=20
that this is a defensive play. Pull up 5 year charts of any HMO and see =
what I=20
mean. There is no cyclicality in the charts. Add that to the fact that =
medicals=20
are often a growth area and that the sector has been doing well coming =
out of=20
the Bear, and I think you're in the right arena, just got there a little =
late in=20
the chart. I've put some comments on WLP's P/V chart and you can =
see them=20
at:</DIV>
<DIV> </DIV>
<DIV><A=20
href=3D"http://WallStreet-LLC.com/canslim/WLP(2)041902.jpg">http://WallSt=
reet-LLC.com/canslim/WLP(2)041902.jpg</A></DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dnfrankle@pacbell.net =
href=3D"mailto:nfrankle@pacbell.net">Neal=20
Frankle</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, April 22, 2002 =
7:21=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
WLP</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>thanks Simon. I bought it =
because it had=20
most of the components of CANSLIM but granted - not the technical =
chart=20
pattern.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I agree with your =
comments.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=3DArial size=3D2>Neal</FONT></DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dsimoninvestments@yahoo.com=20
href=3D"mailto:simoninvestments@yahoo.com">Simon Yang</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, April 22, 2002 =
3:18=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
WLP</DIV>
<DIV><BR></DIV>
<P> Neal,=20
<P>I took a simple/quick look at WLP, I did not understand why you =
bought at=20
$60 6 weeks ago, I do not see any O'Neil pattern breakout there. =
This is a=20
defensive play by big boys, It may drift up when the market has =
troubles.=20
Personally I do not, or not yet, see big troubles of its trading, =
but you=20
need to watch out. It is pretty hard for most canslim investors =
to make=20
money in such market.=20
<P>Simon Yang, simoninvestments.net=20
<P> <B><I>Neal Frankle <nfrankle@pacbell.net></I></B> =
wrote:=20
<BLOCKQUOTE=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff =
2px solid">I=20
bought this at $60 - 6 weeks ago based=20
on:<BR>earnings<BR>sales<BR>roi<BR>good sector<BR>(at the time of =
purchase=20
) a decent market.<BR><BR>The stock reversed today after hitting a =
52 wk=20
high. Volume looks like it will come in heavy but not heavier than =
prior=20
three (up) days.<BR><BR>Is this a classic sell signal????? I have =
been=20
here before, only to hold on to see my nice 20% gain =
evaporate.<BR>I'd=20
like to avoid that experience if possible. Any=20
thoughts?<BR><BR>Thanks,<BR>Neal<BR><BR>-<BR>-To =
subscribe/unsubscribe,=20
email "majordomo@xmission.com"<BR>-In the email body, write =
"subscribe=20
canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your=20
email.</BLOCKQUOTE>
<P><BR>
<HR SIZE=3D1>
<B>Do You Yahoo!?</B><BR><A=20
href=3D"$rd_url/welcome/*http://games.yahoo.com">Yahoo! Games</A> - =
play=20
chess, backgammon, pool and =
more</BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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