RE: [CANSLIM] SHFL

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] SHFL
Date: Sun, 11 May 2003 19:46:57 -0500
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Hi Roger,

Just a note on using MSN or Yahoo data with regard to Institutional
Ownership numbers. While it is useful in taking a peek at the numbers and
the roster of owners, I have found that the reporting is somewhat slow and
that it will differ from other sources. For example, DGO shows that the
number of mutual funds has dropped slightly over the last quarter. That
slight drop would also be apparent via the negative net shares you would
have noted in our CANSLIM Evaluator. All in all, I place Institutional
ownership at the bottom of the heap with respect to all the other desirable
CANSLIM characteristics. That is for 2 reasons: First, data on institutional
ownership is notoriously unrealiable and lags the real buying and selling
action tremendously (due to reporting requirements) and second, because in
truth, the action of institutions is already visible in the price/volume
action of the stock. In other words, all else being equal, I would not use
this particular measurement as a go/no go decision parameter. To be
complete, a measurement of "I" would have to be included in a preponderance
of evidence approach to evaluating one stock against another, but I see it
as only one of many characteristics, not as a deal breaker.

Katherine

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Roger Tawa
Sent: Sunday, May 11, 2003 5:36 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] SHFL


Hi Jans,

Thanks for your comments, I'm just starting out and it is always very
helpful to get some insight from the more experienced canslim folks.

It seemed to me that institutions were "getting out" because the "net shares
purchased mrq" in the canslim evaluator was -1016.  however, after reading
your comments I checked out msn, and they too seem to say that net position
change is positive.

I do see the 4 weekly peaks that you mention.  I see what you mean by the
resistance at 25.  there also 3 weekly troughs in the same period, and these
are rising.  Does this mean anything?

What do you mean that the rsline was "in strong divergence from its prior
resistance peak"?  I am looking at the charts on cwhcharts.com, and the
rsline's peaks seem to coincide with the price peaks.  Also, the rsline last
week seemed to be at or making a new high.

=================================================
Roger Tawa
http://tawacentral.net/
[One thing about paradigms: shift happens.]
[When you stop, you're done.]

 -----Original Message-----
From: 	owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]  On Behalf Of Spencer48@aol.com
Sent:	Sunday, May 11, 2003 12:13 PM
To:	canslim@lists.xmission.com
Subject:	Re: [CANSLIM] SHFL

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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