Re: [CANSLIM] CSTR

From: Spencer48@aol.com
Subject: Re: [CANSLIM] CSTR
Date: Tue, 27 Aug 2002 14:57:52 EDT

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Mike:

     The 50 DMA fell below-and hasn't risen above since then-the 200 day July 
15th.  Also, on the weekly chart, the formation is a V-shaped cup with the 
Right Lip a little below the left lip-so a BO had never occurred.  
Additonally, the RS-Line on the Daily was just a smidgen above where it was 
at the stock price's previous top, which was substantially lower (I'm 
comparing 8/5 with 8/16). 

     On neither the day nor the weekly chart could I see a BO.  Both show the 
high possibility of a BO (with the fundamentals and the chart-formations both 
alligning).  I suspect that IBD will print the same thing (something like, 
"Fooler Charts-Charts That Looked Strong On Their Right-Side-Runup").

     That said, I must confess: I was looking very seriously at CSTR to buy 
it.  The fundamentals; the chart; and the technical (I use MACD and an 
ROC-type tool) all pointed that the stock should be bought.  I didn't buy it 
because of only 1 or 2 thing:  The Market (and perhaps because I am now kind 
of trigger-shy, having been in cash since this LOOOONG bear began)

jans

    


In a message dated 8/27/2002 11:21:10 AM Eastern Daylight Time, 
michael_niemotka@baxter.com writes:

<< 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? >>

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