Re: [CANSLIM] WGO

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] WGO
Date: Mon, 18 Nov 2002 09:11:00 -0600
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Top of Thread: [CANSLIM] WGO "Robin Gridley"
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Hi Robin,

I'd agree with you on the need for WGO to breakout strongly above this =
resistance to show its strength. Afterall, that's the idea of a breakout =
entry point, i.e., look for strong accumulation to push through the =
latest price ceiling which may be holding back the stock.

Fundamentally, I think WGO has a lot going for it--they've recently =
announced another stock buyback program and plant expansion program and =
they seem to fit nicely into Duke's "boomer theme." I think my aunt and =
uncle and their friends must be personally responsible for 1/2 the =
company's growth over the last several years....as they buy and trade-up =
constantly.

Technically, I see some yellow flags.... mainly some troubling high =
volume distribution action in the handle. Hard to say how much of that =
is market related and how much company/stock related, but it's notable =
enough to cause some concern when I look at the chart. Either way, as =
with stocks like SYMC and others that have been mentioned on the list =
lately, a strong B/O and strong market action could take care of any =
lingering doubt in the chart! See an annotated chart at: =
http://WallStreet-LLC.com/canslim/WGO111702.JPG

Katherine
  ----- Original Message -----=20
  From: Robin Gridley=20
  To: CANSLIM=20
  Sent: Sunday, November 17, 2002 11:12 PM
  Subject: [CANSLIM] WGO


  I've been looking at WGO...

  Even though it shows a Cw/H, am I correct in being
  worried about the $48 support level that's been set
  almost three times while forming the cup ($48.05,
  $48.60 and the pivot @ $49) I am guessing I should
  look for VERY strong volume on the BO before
  committing in order to break through and hold above
  these support levels???

  Thx!

  Robin


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<DIV>Hi Robin,</DIV>
<DIV>&nbsp;</DIV>
<DIV>I'd agree with you on the need for WGO to breakout strongly above =
this=20
resistance to show its strength. Afterall, that's the idea of a breakout =
entry=20
point, i.e., look for strong accumulation to push through the latest =
price=20
ceiling which may be holding back the stock.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Fundamentally, I think&nbsp;WGO has a lot going for it--they've =
recently=20
announced another stock buyback program and plant expansion program and =
they=20
seem to fit nicely into Duke's "boomer theme." I think my aunt and uncle =
and=20
their friends must be personally responsible for 1/2 the company's =
growth over=20
the last several years....as they buy and trade-up constantly.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Technically, I see some yellow flags.... mainly some troubling high =
volume=20
distribution action in the handle. Hard to say how much of that is =
market=20
related and how much company/stock related, but it's notable enough to =
cause=20
some concern when I look at the chart. Either way, as with stocks like =
SYMC and=20
others that have been mentioned on the list lately, a strong B/O and =
strong=20
market action could take care of any lingering doubt in the chart! See =
an=20
annotated chart at: <A=20
href=3D"http://WallStreet-LLC.com/canslim/WGO111702.JPG">http://WallStree=
t-LLC.com/canslim/WGO111702.JPG</A></DIV>
<DIV>&nbsp;</DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A title=3Dgridley02@earthlink.net =
href=3D"mailto:gridley02@earthlink.net">Robin=20
  Gridley</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
  href=3D"mailto:canslim@lists.xmission.com">CANSLIM</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, November 17, 2002 =
11:12=20
  PM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] WGO</DIV>
  <DIV><BR></DIV>I've been looking at WGO...<BR><BR>Even though it shows =
a Cw/H,=20
  am I correct in being<BR>worried about the $48 support level that's =
been=20
  set<BR>almost three times while forming the cup ($48.05,<BR>$48.60 and =
the=20
  pivot @ $49) I am guessing I should<BR>look for VERY strong volume on =
the BO=20
  before<BR>committing in order to break through and hold above<BR>these =
support=20
  levels???<BR><BR>Thx!<BR><BR>Robin<BR><BR><BR>-<BR>-To =
subscribe/unsubscribe,=20
  email "<A=20
  =
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
 the=20
  email body, write "subscribe canslim" or<BR>-"unsubscribe =
canslim".&nbsp; Do=20
  not use quotes in your email.<BR></BLOCKQUOTE></BODY></HTML>

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