Re: [CANSLIM] WGO

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] WGO
Date: Mon, 18 Nov 2002 08:25:14 -0500

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Robin, I would not be concerned about the several spikes to the 49 level. In
fact, the one that finished the right side of the cup and started the handle
is encouraging, as there had been consistent volume behind it.

Yes, of course you still will want to see at least 2X ADV on the b/o, but I
see nothing about the chart that would create any special volume rules.

And Karen, a war with Iraq (I presume that is what you mean) would not
necessarily mean much difference in gas prices at the pump. Crude prices
have been falling for several months, as Iraq moderated its attitude, and
the USA toned down some of its statements in order to build a consensus in
the UN for a new resolution. If Saddam is as smart as I think, he has spent
the past six months or more cleaning up Iraq of any evidence of development
of Weapons of Mass Destruction. Now he lets the inspectors in (they just
landed a few hours ago), they find nothing, Saddam whines and complains and
objects but does nothing to interfere, and in a few months the inspectors
report they had total access, and found nothing. USA looks like a bully, its
intelligence services look like idiots, everyone smiles at the results,
there is no war, and Saddam remains in power and won't have to pay Gaddafi
the $3.5 billion for a safe haven after all.

Even if there is a war, the key is the duration and severity of damage. If
Saddam blows up his own oil fields as threatened, or if the Kurds manage to
take the fields, then crude prices will be disrupted. But there is still a
substantial Iraq war premium priced into crude, and the falling prices have
yet to flow thru to the gas pumps.

- ----- Original Message -----
From: "Karen White" <karenwhite7@charter.net>
To: <canslim@lists.xmission.com>
Sent: Monday, November 18, 2002 7:27 AM
Subject: Re: [CANSLIM] WGO

Hi Robin- I too have been looking at some RV stocks and my concern has been
- - War = higher gas prices= Stock drops with little warning.....your take on
that? Karen

At 09:12 PM 11/17/2002 -0800, you wrote:
>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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