Go to Jeff Salisbury LWGate Home Page.From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] USLB
Date: Thu, 2 May 2002 16:36:39 -0400
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If Katherine's every ANYWHERE, dinner's on us!!
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Parnelli
Sent: Wednesday, May 01, 2002 10:42 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] USLB
I owe you...if you're ever in Cincinnati, dinner is on me!!!
- ----- Original Message -----
From: Katherine <mailto:kmalm@earthlink.net> Malm
To: canslim@lists.xmission.com
Sent: Wednesday, May 01, 2002 10:36 PM
Subject: Re: [CANSLIM] USLB
Hi Parnelli,
The best way to identify pivot points is to practice, practice, practice
reading charts. Any charting tool that shows price/volume action will
allow you to identify the technical pattern and "ideal" entry point.
A good place to start is at the IBD site itself:
http://www.investors.com/learn/b09.asp
You can chart for free at www.bigcharts.com, www.stockcharts.com etc.
There are services that will identify the pivot points, but they charge
for the convenience.
Katherine
- ----- Original Message -----
From: Parnelli <mailto:pgone@fuse.net>
To: canslim@lists.xmission.com
Sent: Wednesday, May 01, 2002 8:53 PM
Subject: Re: [CANSLIM] USLB
You're definitely right Katherine about experience being the best
teacher. I have two stupid questions (intended to get me up to speed so
I can contribute to the board), what is WON and is there a tool that can
help me find the pivot point? I really do appreciate your help!!!
- -Parnelli
- ----- Original Message -----
From: Katherine <mailto:kmalm@earthlink.net> Malm
To: canslim@lists.xmission.com
Sent: Wednesday, May 01, 2002 9:46 PM
Subject: Re: [CANSLIM] USLB
Youch....well, you've probably learned the second most important rule in
CANSLIM.....don't buy extended stocks. If you purchased at $16.25,
support was a long way away. The pivot on this one was $11.55. The gap
on the open 3/25 meant that your best entry would have been around
$12.04. That means it was (16.25-12.04)/12.04 = 35% extended on
purchase. You can see why this is a critical technical guideline. WON
says about 40% of stocks will pullback to their pivot before moving on.
If you find a good stock but miss the valid breakout, WAIT and see if
you can get a second chance entry or wait until it consolidates again
and breaks out before jumping in. Buying an extended stock is a little
like bungee jumping without a rope. One of the most critical (and most
difficult) skills required in CANSLIM investing is patience.
See a marked chart at http://WallStreet-LLC.com/canslim/USLB050102.jpg
Oh yes...welcome to the list!
Katherine
PS...one of the best ways to really "get" a CANSLIM rule is to
experience it first hand. Been there, done that, that's why I remember
it myself!
- ----- Original Message -----
From: Parnelli <mailto:pgone@fuse.net>
To: canslim@lists.xmission.com
Sent: Wednesday, May 01, 2002 7:53 PM
Subject: Re: [CANSLIM] USLB
Thanks Katherine...unfortunately I bought it a week before earnings at
$16.25 and then it started tanking. Then when their numbers came out (I
thought they were excellent), but apparently I was the only one who felt
that way-ouch! Oh well, all part of the learning curve. I still think
it looks like a good company and I've considered averaging down,
however, O'neil is not a big fan of that move. Obviously, I should have
kept my loss from exceeding 8%...but I'm learning. Thanks, Parnelli
- ----- Original Message -----
From: Katherine Malm <mailto:kmalm@earthlink.net>
To: canslim@lists.xmission.com
Sent: Wednesday, May 01, 2002 8:44 PM
Subject: Re: [CANSLIM] USLB
Hi Parnelli,
When did you buy? If you bought on the breakout 3/25 then you shouldn't
have been "slammed" as the big downward action 4/23-4/25 is most likely
market driven. A good buy would have allowed you to weather the action
and see if it held above the pivot and the 50dMA, which it's done,
showing very good support 4/29 with high volume and an upward tail.
Katherine
- ----- Original Message -----
From: Parnelli <mailto:pgone@fuse.net>
To: canslim@lists.xmission.com
Sent: Wednesday, May 01, 2002 7:39 PM
Subject: [CANSLIM] USLB
Hi Board,
I'm a new "canslimer" and thought I was an IBD guru until I bought USLB
and it slammed me. I know I missed on the "M", but for the life of me I
can't see any other problems. If any experienced folks follow this
stock and can give me their two cents worth I'd be very appreciative.
Many thanks, Parnelli
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<DIV><SPAN class=3D576213620-02052002><FONT face=3DArial>If Katherine's =
every=20
ANYWHERE, dinner's on us!!</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV></DIV>
<DIV class=3DOutlookMessageHeader lang=3Den-us dir=3Dltr =
align=3Dleft><FONT=20
face=3DTahoma size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]=20
<B>On Behalf Of </B>Parnelli<BR><B>Sent:</B> Wednesday, May 01, 2002 =
10:42=20
PM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> Re: =
[CANSLIM]=20
USLB<BR><BR></FONT></DIV>
<DIV><FONT size=3D2>I owe you...if you're ever in Cincinnati, dinner =
is on=20
me!!!</FONT></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=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</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> Wednesday, May 01, 2002 =
10:36=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
USLB</DIV>
<DIV><BR></DIV>
<DIV>Hi Parnelli,</DIV>
<DIV> </DIV>
<DIV>The best way to identify pivot points is to practice, practice, =
practice reading charts. Any charting tool that shows price/volume =
action=20
will allow you to identify the technical pattern and "ideal" entry=20
point.</DIV>
<DIV> </DIV>
<DIV>A good place to start is at the IBD site itself:</DIV>
<DIV><A=20
=
href=3D"http://www.investors.com/learn/b09.asp">http://www.investors.com/=
learn/b09.asp</A></DIV>
<DIV> </DIV>
<DIV>You can chart for free at <A=20
href=3D"http://www.bigcharts.com">www.bigcharts.com</A>, <A=20
=
href=3D"http://www.stockcharts.com">www.stockcharts.com</A> etc.</DI=
V>
<DIV> </DIV>
<DIV>There are services that will identify the pivot points, but =
they charge=20
for the convenience.</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=3Dpgone@fuse.net =
href=3D"mailto:pgone@fuse.net">Parnelli</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
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> Wednesday, May 01, =
2002 8:53=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
USLB</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>You're definitely right Katherine about =
experience=20
being the best teacher. I have two stupid questions =
(intended to get=20
me up to speed so I can contribute to the board), what is WON and =
is there=20
a tool that can help me find the pivot point? I really do =
appreciate=20
your help!!! -Parnelli</FONT></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=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
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> Wednesday, May 01, =
2002 9:46=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
USLB</DIV>
<DIV><BR></DIV>
<DIV>Youch....well, you've probably learned the second most =
important=20
rule in CANSLIM.....<EM>don't buy extended stocks</EM>. If you =
purchased=20
at $16.25, support was a long way away. The pivot on this one =
was=20
$11.55. The gap on the open 3/25 meant that your best entry =
would have=20
been around $12.04. That means it was (16.25-12.04)/12.04 =3D=20
<EM><STRONG>35% extended</STRONG></EM> on purchase. You can see =
why this=20
is a critical technical guideline. WON says about 40% of stocks =
will=20
pullback to their pivot before moving on. If you find a good =
stock but=20
miss the valid breakout, WAIT and see if you can get a second =
chance=20
entry or wait until it consolidates again and breaks out before =
jumping=20
in. Buying an extended stock is a little like bungee jumping =
without a=20
rope. One of the most critical (and most difficult) skills =
required in=20
CANSLIM investing is patience.</DIV>
<DIV> </DIV>
<DIV>See a marked chart at <A=20
=
href=3D"http://WallStreet-LLC.com/canslim/USLB050102.jpg">http://WallStre=
et-LLC.com/canslim/USLB050102.jpg</A></DIV>
<DIV> </DIV>
<DIV>Oh yes...welcome to the list!</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<DIV> </DIV>
<DIV>PS...one of the best ways to really "get" =
a CANSLIM rule=20
is to experience it first hand. Been there, done that, that's =
why I=20
remember it myself!</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=3Dpgone@fuse.net =
href=3D"mailto:pgone@fuse.net">Parnelli</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
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> Wednesday, May =
01, 2002=20
7:53 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
USLB</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>Thanks Katherine...unfortunately I bought =
it a week=20
before earnings at $16.25 and then it started tanking. =
Then when=20
their numbers came out (I thought they were excellent), but =
apparently=20
I was the only one who felt that way-ouch! Oh well, all =
part of=20
the learning curve. I still think it looks like a good =
company=20
and I've considered averaging down, however, O'neil is not a =
big fan=20
of that move. Obviously, I should have kept my loss from =
exceeding 8%...but I'm learning. Thanks, =
Parnelli</FONT></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=3Dkmalm@earthlink.net=20
href=3D"mailto:kmalm@earthlink.net">Katherine Malm</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
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> Wednesday, May =
01, 2002=20
8:44 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: =
[CANSLIM]=20
USLB</DIV>
<DIV><BR></DIV>
<DIV>Hi Parnelli,</DIV>
<DIV> </DIV>
<DIV>When did you buy? If you bought on the breakout 3/25 =
then you=20
shouldn't have been "slammed" as the big downward action=20
4/23-4/25 is most likely market driven. A good buy =
would have=20
allowed you to weather the action and see if it held above =
the pivot=20
and the 50dMA, which it's done, showing very good support =
4/29 with=20
high volume and an upward tail.</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=3Dpgone@fuse.net =
href=3D"mailto:pgone@fuse.net">Parnelli</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
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> Wednesday, =
May 01, 2002=20
7:39 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] =
USLB</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>Hi Board,</FONT></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV><FONT size=3D2>I'm a new "canslimer" and thought I =
was an IBD=20
guru until I bought USLB and it slammed me. I know I =
missed=20
on the "M", but for the life of me I can't see any other=20
problems. If any experienced folks follow this stock =
and can=20
give me their two cents worth I'd be very =
appreciative. Many=20
thanks,=20
=
Parnelli </FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></=
BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></H=
TML>
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