Go to Jeff Salisbury LWGate Home Page.From: michael_niemotka@baxter.com
Subject: Re: [CANSLIM] CSTR
Date: Tue, 27 Aug 2002 15:12:46 -0500
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Question about selling short:
From what I understand, you can only sell short on an uptick, but is it
possible to put in a short sell order, that you hope gets done if the stock
has a single uptick on it's way down?
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
"david frank"
<camelot.homes@charter To: canslim@lists.xmission.com
.net> cc:
Sent by: Subject: Re: [CANSLIM] CSTR
owner-canslim@lists.xm
ission.com
08/27/2002 03:09 PM
Please respond to
canslim
Ian, what did you see in CSTR as a short sale, technically speaking; don't
see a H&S top, or 2-3 down shoulders, perhaps, a double top? Did you sell
short during the pre-market or regular hours. Nice trade. dave
- ----- Original Message -----
From: "Ian" <ianstm@shaw.ca>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 27, 2002 2:44 PM
Subject: Re: [CANSLIM] CSTR
> Mike:
>
> If it makes you feel better - I was looking for chart weakness so that I
> could intitate another short position - and I hadn't found any weakness
> before today. I would say that technically, the stock has behaved
extremely
> strongly up until today - strong enough to scare me away from shorting
it.
> Just my 2 cents.
>
> Ian
>
>
> ----- Original Message -----
> From: <michael_niemotka@baxter.com>
> To: <canslim@lists.xmission.com>
> Sent: Tuesday, August 27, 2002 8:22 AM
> 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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