Re: [CANSLIM] SHFL

From: Spencer48@aol.com
Subject: Re: [CANSLIM] SHFL
Date: Sun, 11 May 2003 12:12:40 EDT

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Roger,

     What gives you the clue that "...institutions seem to be getting out."  
The number of funds invested in SHFL, according to Daily Graphs Online, from 
June/02 to March/03 is 81->98 (although in Dec. it was 99).  Is this the only 
signal that you see?

     In my opinion I wouldn't invest in SHFL for these reasons:  1) I believe 
strength of the Leisure/Gaming Equip. industry is beginning to end; its power 
was shown in the past few months and now-in my opinion-it's going to 
dissipate.  The stocks in this group are already surfeited and ready to 
digest their gains.  The up and coming industries, I believe, will have to do 
with Technology and Medical stocks.

     Also, specifically to SHFL, notice the four weakly peaks it has made 
since May/01.  Around 25 seems to be the resistance point.  And the 
RelativeStrengthLine does not indicate that the stock is strong enough to 
break the resistance.  I conclude this because:  Notice that the previous 
peak's RSL was in strong divergence from its prior resistance peak (in early 
Nov./02).  

     However, in last week's price peak (at the resistance) RSL is either 
below or just barely above (it is certainly not showing the kind of strength 
the previous RSL showed at Nov/02's resistance point).

jans



In a message dated 5/10/2003 8:10:07 PM Eastern Daylight Time, 
roger@tawacentral.net writes:

<< The fundies look good, with one exception: institutions seem to be getting
 out.
  >>

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