Go to Jeff Salisbury LWGate Home Page.From: "Edward W. Gjertsen II" <ed@macktracks.com>
Subject: RE: [CANSLIM] CSTR
Date: Tue, 27 Aug 2002 11:11:56 -0500
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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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