RE: [CANSLIM] SHFL Breaking Out

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] SHFL Breaking Out
Date: Thu, 22 May 2003 13:51:57 -0500

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Hi Chris,

A stock hasn't broken out unless it *closes* above the pivot on >=150% average
daily volume. WON suggests, however, that if, intraday, a stock hits the pivot
price on projected volume >= 150% ADV, then it makes sense to enter the
position. If by day's end it falls back below the pivot, you can either sell it
outright, or hold if you wish to take on the risk.

Katherine
  -----Original Message-----
  From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Chris Jones
  Sent: Thursday, May 22, 2003 12:12 PM
  To: CANSLIM
  Subject: [CANSLIM] SHFL Breaking Out


  SHFL was a stock discussed a week or two ago.  Today it seems to be breaking
out of it's handle.  However, though it is up $1.40 it is $1 below its intraday
high.  Seems to be a little resistance at $25.  If it fails to close above the
left side of its handle, would this be considered a failed breakout?

  Chris

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<DIV><SPAN class=3D367074118-22052003>Hi Chris,</SPAN></DIV>
<DIV><SPAN class=3D367074118-22052003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D367074118-22052003>A stock hasn't broken out unless =
it *closes*=20
above the pivot on &gt;=3D150% average daily volume. WON suggests, =
however, that=20
if, intraday,&nbsp;a stock hits the pivot price on projected volume =
&gt;=3D 150%=20
ADV, then it makes sense to enter the position. If by day's end it falls =
back=20
below the pivot, you can either sell it outright, or hold if you wish to =
take on=20
the risk.</SPAN></DIV>
<DIV><SPAN class=3D367074118-22052003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D367074118-22052003>Katherine</SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
  <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
  size=3D2>-----Original Message-----<BR><B>From:</B>=20
  owner-canslim@lists.xmission.com=20
  [mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Chris=20
  Jones<BR><B>Sent:</B> Thursday, May 22, 2003 12:12 PM<BR><B>To:</B>=20
  CANSLIM<BR><B>Subject:</B> [CANSLIM] SHFL Breaking =
Out<BR><BR></FONT></DIV>
  <DIV><FONT face=3DArial size=3D2>SHFL was a stock discussed a week or =
two=20
  ago.&nbsp; Today it seems to be breaking out of it's handle.&nbsp; =
However,=20
  though it is up $1.40 it is $1 below its intraday high.&nbsp; Seems to =

  be&nbsp;a little resistance at $25.&nbsp; If it fails to close above =
the left=20
  side of its handle, would this be considered a failed =
breakout?</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial =
size=3D2>Chris</FONT></DIV></BLOCKQUOTE></BODY></HTML>

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