Re: [CANSLIM] CANSLIM for sourcing shorts

From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] CANSLIM for sourcing shorts
Date: Wed, 1 May 2002 18:01:33 -0400

Next Article (by Date): [CANSLIM] Breakouts Eric Jaenike
Previous Article (by Date): Re: [CANSLIM] CANSLIM for sourcing shorts "J. Lobatto"
Top of Thread: [CANSLIM] CANSLIM for sourcing shorts Ian
Articles sorted by: [Date] [Author] [Subject]

I have also observed the whip-saw associated with high short interest.

Another item to watch is that sometimes the price will drop (buy the rumor
sellon the news) the day and day after the split and then head higher.

- ----- Original Message -----
From: "J. Lobatto" <jlobatto@nyc.rr.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, May 01, 2002 5:20 PM
Subject: Re: [CANSLIM] CANSLIM for sourcing shorts


> Sounds interesting. One thing I noticed is that there seems to be a short
> interest of about ten days trading. This is pretty high, so obviously many
> folks concur with your evaluation. However, if it does break out to a new
> high and these short sellers decide to cover, it could be a nasty run to
the
> upside. I've also noticed in the past that high short interest often
> coincides with volatile whipsaw moves. In any case... good luck.
>
> Jon
> ----- Original Message -----
> From: "Ian" <ianstm@shaw.ca>
> To: <canslim@lists.xmission.com>
> Sent: Wednesday, May 01, 2002 5:16 PM
> Subject: [CANSLIM] CANSLIM for sourcing shorts
>
>
> > Often, I keep a small list of 'CANSLIM' darlings as potential short
> > candidates - usually things with average balance sheets and huge
> valuations.
> > One of those that has been on my list for a while is PFCB.
> >
> > In the last couple of weeks, PFCB has had 4 exceptional volume days
> without
> > any meaningful advance - even though each day was 'green'. IMHO, that is
> the
> > distribution that I have been looking for. I have a short here in the
high
> > $72's, that I will stop out if it goes through $74.50 from here.
> >
> > WIth a split upcoming, it is easily possible that I get stopped out -
but
> I
> > am risking just 1 1/2 points, and my reward could be 20 points +.  PFCB
> > trades at what I consider an extremely high valuation, given their cash
> > generation, in a capital intensive business. If I had been long the
stock,
> I
> > would have taken the recent advanceless volume days as sell signals.
> >
> >
> > We'll see.
> >
> > Ian
> >
> >
> >
> >
> >
> >
> > -
> > -To subscribe/unsubscribe, email "majordomo@xmission.com"
> > -In the email body, write "subscribe canslim" or
> > -"unsubscribe canslim".  Do not use quotes in your email.
>
>
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your email.
>


- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.

Go to Jeff Salisbury LWGate Home Page.