Re: [CANSLIM] CANSLIM for sourcing shorts

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] CANSLIM for sourcing shorts
Date: Thu, 2 May 2002 09:11:05 -0400

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Hi Ian,

Aside from funds owning 59%, I see nothing wrong with the fundies on this
one. Not sure why you think it is over valued. And industry group is A as
well.

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley
- ----- 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






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