Go to Jeff Salisbury LWGate Home Page.From: "Pritish Shah" <pshah@lason.com>
Subject: Re: [CANSLIM] Qwest research
Date: Thu, 26 Dec 2002 12:57:55 -0500
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Jans,
I was responding to the question and was trying to learn from one of
the masters (Tom). I am not going to invest in this stock nor am I
recommending it.
Hope it helps that I agree with you.
Regards,
Pritish
>>> Spencer48=40aol.com 12/25/02 02:36AM >>>
pshah:
I don=27t want to argue the point. This is just how Q appears to
me: You=20
could be right; however, I think you are wrong. Q is not in a bullish
mode. =20
Here is why I think that:
Earnings, and even projected =2703 Earnings, are negative;=20
There is A LOT of overhead resistance (I believe that both these points
support the fact that institutions will not invest in Q. They would
have=20
bought Q in the 90=27s when =22Romance=22 of internet stocks was in full
bloom, but=20
I don=27t believe they would now. Earnings are what will propel the
stock=20
tomorrow, not fanciful notions);=20
One could argue that Q has made a V-shaped cup, but going from about 1
up to=20
4=BD is not my idea of a rally (the cup=27s subsequent trough should be =
a=20
correction from an immediately preceding rally). To me the chart looks
like=20
a rally correction of an ongoing downtrend.
I=27ll never understand (although I probably did it myself) the novice=27s
mad=20
love affair with technical analysis for technical analysis=27s sake. If
something isn=27t kosher, why acceed to it? For example, you say that
the RS=20
has been increasing, gapping up on higher volume and =22not violating the
gap=22.=20
I say: Big Deal. This just says that the stock is doing better than
the=20
market-so the question becomes why choose this stock over others with
better=20
and more powerful RS-Lines? =20
Also, what is the connection between your implication that the
stock is=20
strong because the RS-Line did not violate the gap? In my opinion, the
RS-Line is not the stock; the only thing that can be read in the
RS-Line is:=20
that it is steep, that it is level or that it is plunging.=20
As I said, you could be right and I could be wrong. However, a=20
successful stock picker must not only learn so that he/she can
understand=20
chart analysis, but also he/she must be able to view the chart=20
realistically, and understand what is and what is not significant (even
though a lot in the chart may actually be relevant).
jans
=20
In a message dated 12/25/2002 1:34:53 AM Eastern Standard Time,=20
pshah=40lason.com writes:
<< To me the chart looks very bullish. Ofcourse, I am inexperienced >>
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