Go to Jeff Salisbury LWGate Home Page.From: "Mike Gibbons" <mikegibbons@proactech.com>
Subject: RE: [CANSLIM] USLB
Date: Thu, 2 May 2002 10:48:58 -1000
Previous Article (by Subject): RE: [CANSLIM] Today's IBD "Big Picture" comments... "Duke Miller"
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MessageHere, here - and Maui's a nice place to visit!
Aloha,
Mike Gibbons
Proactive Technologies, LLC
http://www.proactech.com
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Duke Miller
Sent: Thursday, May 02, 2002 10:37 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] USLB
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 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
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 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
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
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
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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<BODY bgColor=3D#ffffff>
<DIV><SPAN class=3D310014820-02052002><FONT face=3DArial color=3D#0000ff =
size=3D2>Here,=20
here - and Maui's a nice place to visit!</FONT></SPAN></DIV>
<DIV> </DIV>
<DIV><FONT face=3DArial size=3D2>Aloha,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Mike Gibbons<BR>Proactive Technologies, =
LLC</FONT></DIV>
<DIV><FONT face=3DArial size=3D2><A=20
href=3D"http://www.proactech.com/">http://www.proactech.com</A></FONT></D=
IV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Duke=20
Miller<BR><B>Sent:</B> Thursday, May 02, 2002 10:37 AM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> RE: [CANSLIM]=20
USLB<BR><BR></FONT></DIV>
<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=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 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,=20
practice reading charts. Any charting tool that shows price/volume =
action=20
will allow you to identify the technical pattern and "ideal" entry =
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=20
charge 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 being the best teacher. I have two stupid =
questions=20
(intended to get me up to speed so I can contribute to the =
board), what=20
is WON and is there a tool that can help me find the pivot =
point? =20
I really do appreciate 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=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
9:46 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 at $16.25, support was a long way away. The pivot on =
this=20
one was $11.55. The gap on the open 3/25 meant that your best =
entry=20
would have 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=20
this is a critical technical guideline. WON says about 40% of =
stocks=20
will pullback to their pivot before moving on. If you find a =
good=20
stock but miss the valid breakout, WAIT and see if you can get =
a=20
second chance entry or wait until it consolidates again and =
breaks out=20
before jumping in. Buying an extended stock is a little like =
bungee=20
jumping without a rope. One of the most critical (and most =
difficult)=20
skills required in 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"=20
a CANSLIM rule is to experience it first hand. Been =
there,=20
done that, that's why I 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]=20
USLB</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>Thanks Katherine...unfortunately I =
bought it a=20
week before earnings at $16.25 and then it started =
tanking. =20
Then when their numbers came out (I thought they were =
excellent),=20
but apparently I was the only one who felt that =
way-ouch! Oh=20
well, all part of the learning curve. I still think it =
looks=20
like a good company and I've considered averaging down, =
however,=20
O'neil is not a big fan of that move. Obviously, I =
should have=20
kept my loss from exceeding 8%...but I'm learning. =
Thanks,=20
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=20
pivot and the 50dMA, which it's done, showing very good =
support=20
4/29 with 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 =
- -----=20
</DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; =
font-color: black"><B>From:</B>=20
<A title=3Dpgone@fuse.net=20
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,=20
2002 7:39 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> =
[CANSLIM]=20
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=20
missed 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=20
can give me their two cents worth I'd be very=20
appreciative. Many thanks,=20
=
Parnelli </FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></=
BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUO=
TE></BODY></HTML>
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