Re: [CANSLIM] CSTR

From: "Alicia Lensing" <alensing@prodigy.net>
Subject: Re: [CANSLIM] CSTR
Date: Wed, 28 Aug 2002 09:12:24 -0500
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Ian:

There is much information at the following link about short selling stocks.
It may be appropriate for late night reading when you're having trouble
falling to sleep ;-)

Alicia

http://www.nasdaqtrader.com/trader/tradingservices/marketwatch/tradermanual/
chapter09.pdf


- ----- Original Message -----
From: "Ian" <ianstm@shaw.ca>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 27, 2002 11:11 PM
Subject: Re: [CANSLIM] CSTR


> Mike:
>
> As far as I know, and my personal observations seem to have confirmed it,
> there is no uptick rule on the NASDAQ. You can short at market if you
like.
>
> Ian
>
> ----- Original Message -----
> From: <michael_niemotka@baxter.com>
> To: <canslim@lists.xmission.com>
> Sent: Tuesday, August 27, 2002 1:12 PM
> Subject: Re: [CANSLIM] CSTR
>
>
> >
> > 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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