Re: [CANSLIM] Any reason why I should not buy APPX?

From: Spencer48@aol.com
Subject: Re: [CANSLIM] Any reason why I should not buy APPX?
Date: Fri, 16 May 2003 12:13:28 EDT

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Roger:

roger@tawacentral.net writes: << Your point about waiting for a BO on the 
weekly is interesting though. Given that this week is still in the making, 
how do you handle that? >>        In a Bear Mkt. I wait for weekly BOs (ie, I 
don't buy during the week);       In the beginning of a Bull (which I believe 
we are in now-but I also believe we're OB), I again would wait for the week.  
However, if the stock appears very strong to me, I'd overlook the OB status 
of the Mkt., and buy the stock after seeing what the day's close is);    In 
the middle of a Bull, I'd probably buy interday (when there is a BO from a 
WON approved stock, ie. what WON calls "a leader").

roger@tawacentral.net writes: >>You seem to agree that the left hand side of 
the cup is at 27.75 at the end of January.  So that puts the pivot at 26.20, 
the intra-day high on May 5th.  yes/no?<<  
No.  I'm not certain how you get the 26.20 PP on the Weekly Chart just 
because the left side PP is 27.75.  I'm not sure where the right side PP is 
because there is no handle yet.  (Caveat:  I've just looked at the Daily, and 
on 5/5 there was a right side lip 26.20.  However, I wouldn't have bought at 
that time because 1) At the beginning of a Bull I still rely on weekly 
BOs-and not daily 2) the RSL is weak on the  26.20 BO, I believe.  3) Even 
though volume is really great on the BO, there is such a hi-short interest 
that I believe the high volume is due to funds taking their profits.  I don't 
believe volume indicates there is a huge buyer demand out there (I believe, 
rather, that the rise is due to profit taking, as shown by what I believe is 
a weak RSL)

jans

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