Re: [CANSLIM] POSS

From: "david frank" <camelot.homes@charter.net>
Subject: Re: [CANSLIM] POSS
Date: Fri, 21 Feb 2003 15:53:23 -0600

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Personally, I believe, canslim is  pretty well dead. Even with ebay, apa, or
zmh, this week, one had to be lucky to get in and cheat canslim principles.
And look at all the failures. Dave
- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Friday, February 21, 2003 9:03 AM
Subject: RE: [CANSLIM] POSS

This is why I enjoy the group so much.  POSS did reverse and closed just
above its lows on 2/5.  S&P500 did the same.  If you remember, on 2/5
the market started positive then reversed midday.  We believed that POSS
may be building a handle here hitting resistance of 21.75 back in March
'02.  I suggested here and on the show to add a small amount of POSS
should a handle develop and break above the pivot.  Your point is well
taken and we debated whether to sell on 2/12.  Being a relatively small
position and the volatility of the market, we were comfortable in
letting the stock attempt to prove itself to hold the 50DMA. 2/12 was
the first distribution day since 1/24 and that was the day earnings were
released.  We may look at it again but is would have to build a new base
and their fundamentals would have to remain strong.  In regards to the
RS.  There are many times where, in the short run, the RS will diverge
from price.  We tend to look at more than one day's divergence for signs
of concern.  Thank you for your questions.

Ed Gjertsen II
ed@macktracks.com

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- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Spencer48@aol.com
Sent: Thursday, February 20, 2003 9:41 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] POSS

Ed:

     Why did you keep POSS (I'm not second guessing you, I'd like to
know
your reasons) on 2/5 when it closed at the bottom of its range; the
Relative
Strength Line was lower than the day previous (even though POSS hit a
new
high); and the down-day volume was higher than ADV.

     Also, on 2/12 there seemed more reason to sell (POSS gapped lower
on 2½
times ADV).  What justifed your keeping the stock?

     Finally, would you consider buying it again when the mkt. turns
bull?

jans

In a message dated 2/20/2003 4:40:16 PM Eastern Standard Time,
ed@macktracks.com writes:

<< In $18.40 1/10/03- out $17.8021 on 2/14/03
 Ed Gjertsen II
 ed@macktracks.com

 -----Original Message-----
 From: owner-canslim@lists.xmission.com
 [mailto:owner-canslim@lists.xmission.com] On Behalf Of Sol Mayer
 Sent: Thursday, February 20, 2003 1:58 PM
 To: canslim@lists.xmission.com
 Subject: Re: [CANSLIM] POSS
 Where did you get in on POSS and when and where did you get out?
  >>

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