Re: [CANSLIM] CSTR

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] CSTR
Date: Tue, 27 Aug 2002 11:24:18 -0500
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Hi Ed,

I'm glad Norm asked the question because your comment also piqued my
interest. Let me see if I understand you....

You are doing a visual examination of the chart, looking for a pattern of
wide-range days, gaps up/down, wide-loose patterns, etc.?

Based on that assessment, you would avoid a chart that displayed too many of
these volatile patterns?

What would you do if the stock displayed these patterns but has recently
tightened up?

Katherine

- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 27, 2002 11:11 AM
Subject: RE: [CANSLIM] CSTR


| Katherine you are incredibly resourceful.  We do not use ATR - we
| actually go through the daily charts to look for any historical trading
| issues that may cause us a premature exit from our buy.  ATR may be
| misleading if one or two days are 10% in range.  Good Luck.
|
| Ed Gjertsen II
| ed@macktracks.com
|
| -----Original Message-----
| From: owner-canslim@lists.xmission.com
| [mailto:owner-canslim@lists.xmission.com] On Behalf Of
| michael_niemotka@baxter.com
| Sent: Tuesday, August 27, 2002 10:57 AM
| To: canslim@lists.xmission.com
| Subject: RE: [CANSLIM] CSTR
|
|
| Ed,
|
| Thank you for that insight.   I will start doing the same type of
| analysis
| with my chart readings.
|
| Mike
|
| Mike Niemotka , PE
| Sr. Principal Engineer
| Baxter Healthcare Corporation
| Route 120 & Wilson Road
| Round Lake, IL 60073
| Tel (847) 270-4075
| Fax (847) 270-4525
| michael_niemotka@baxter.com
|
|
|
|
|                     "Edward W. Gjertsen
|
|                     II"                           To:
| canslim@lists.xmission.com
|                     <ed@macktracks.com>           cc:
|
|                     Sent by:                      Subject:     RE:
| [CANSLIM] CSTR
|                     owner-canslim@lists.xm
|
|                     ission.com
|
|
|
|
|
|                     08/27/2002 10:45 AM
|
|                     Please respond to
|
|                     canslim
|
|
|
|
|
|
|
|
|
| Michael,
|
| With the PE on CSTR in the mid 70's, there is risk.  Even though WON
| doesn't really pay attention to PE, many do.  Second, this is not the
| first time CSTR has fallen so quickly.  One additional analysis we
| perform is to review charts form mini implosions.  There have been many
| stocks we have passed over due to a volatile trading history.  Stocks
| that have recent (6 months) daily ranges of greater than 10% carry
| additional risks for Canslimers.
|
| Ed Gjertsen II
| ed@macktracks.com
|
| -----Original Message-----
| From: owner-canslim@lists.xmission.com
| [mailto:owner-canslim@lists.xmission.com] On Behalf Of
| michael_niemotka@baxter.com
| Sent: Tuesday, August 27, 2002 10:22 AM
| To: canslim@lists.xmission.com
| Subject: RE: [CANSLIM] CSTR
|
|
| I appreciate all the advice that I have gotten.  It is when stuff like
| this
| happens that makes me question a trading "method".  I'm sure if CSTR
| stays
| down, it will only be a matter of time before I see and IBD write up
| using
| their famous 20-20 hindsight to show why it was destined to fall.  Does
| anyone else see anything in the price volume action that would lead them
| to
| believe that this was going to happen, or is it the M that is still not
| strong enough?
|
| Okay, now I feel a bit better after venting.  Thank you all!
|
|
| Mike Niemotka , PE
| Sr. Principal Engineer
| Baxter Healthcare Corporation
| Route 120 & Wilson Road
| Round Lake, IL 60073
| Tel (847) 270-4075
| Fax (847) 270-4525
| michael_niemotka@baxter.com
|
|
|
|
|                     "Edward W. Gjertsen
|
|                     II"                           To:
| canslim@lists.xmission.com
|                     <ed@macktracks.com>           cc:
|
|                     Sent by:                      Subject:     RE:
| [CANSLIM] CSTR
|                     owner-canslim@lists.xm
|
|                     ission.com
|
|
|
|
|
|                     08/27/2002 10:09 AM
|
|                     Please respond to
|
|                     canslim
|
|
|
|
|
|
|
|
|
| Dear Mike
|
| CSTR was a favorite of many Canslimers - with the problems we faced with
| buying CVH recently (too many chasing too few) we are seeing similar
| results, which unfortunately are on the downside.  You mentioned that
| you got into the office late.  Remember - there are people who do this
| for a living with millions at stake.  A slight smell of weakness and
| they may sell some of their position to take some risk off the table -
| selling begets selling and before you know it CSTR is down over 20%.  We
| have been in this situation several times before - and sold quickly -
| and yes much to our chagrin - some stocks came roaring back - but in
| other cases the stock kept declining.  Throw out your ego - sell - and
| if CSTR sets up again look at buying it.  I don't want to get too deep
| into wash sale rules, but you can't take and loss on CSTR if you buy it
| back within 30 days.  Good luck
|
| Ed Gjertsen II
| ed@macktracks.com
|
| -----Original Message-----
| From: owner-canslim@lists.xmission.com
| [mailto:owner-canslim@lists.xmission.com] On Behalf Of
| michael_niemotka@baxter.com
| Sent: Tuesday, August 27, 2002 9:25 AM
| To: canslim@lists.xmission.com
| Subject: [CANSLIM] CSTR
|
| Does anyone know what is going on with this stock?  Got in late to the
| office today and it is down 18%!!!
|
| I know we are supposed to sell at 7-8%, but now do I sell anyway, or
| wait
| it out to see if the day may turn a bit?
|
| Thanks
|
| Mike Niemotka , PE
| Sr. Principal Engineer
| Baxter Healthcare Corporation
| Route 120 & Wilson Road
| Round Lake, IL 60073
| Tel (847) 270-4075
| Fax (847) 270-4525
| michael_niemotka@baxter.com
|
|
|
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