Go to Jeff Salisbury LWGate Home Page.From: Ian <ianstm@shaw.ca>
Subject: Re: [CANSLIM] Sell Yahoo?
Date: Fri, 06 Jun 2003 14:48:38 -0700
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Hi Joe:
With 4 distribution days in the last 6, and a clear failure to break its old high ($30) today, and the fact that its RS appears to me to be lagging other leaders of this bull (YHOO was at $25 on April 7 - compare that to, HITK, SSYS, MTLG, etc...) I personally would be looking for reasons to sell. In fact, at the open today, $30 looked to me like an excellant risk/reward short entry, with a tight stop at $30.85.
JMHO, and you should know that I have been a bit too cautious for most of this 3-month bull.
Cheers,
Ian
----- Original Message -----
From: Joe McCall
To: canslim@lists.xmission.com
Sent: Friday, June 06, 2003 8:36 AM
Subject: [CANSLIM] Sell Yahoo?
I hope you all don't mind me asking your opinion on this, but I can't think of a better place to go.
I am up about 35% on Yahoo. I have never had a stock do this well before! I think I should keep it for a little while longer until I see stronger institutional selling, but I am getting nervous. It is MUCH harder to decide when to sell a stock than when to buy it.
Yahoo dropped a little bit after it appeared on the cover of BusinessWeek, but it is climbing slightly again. Let me list the reasons why I think I should hold on to it for a little while, and you can comment on my thoughts if you like.
a.. I see only 4 distribution weeks in the last 6 months.
b.. The RS line is still rising, although it may have started flattening out lately.
c.. WON recommends drawing a line along the last 2 or 3 peaks on a weekly chart and sell when a stock crosses it over it. This hasn't happened yet.
d.. I see it in a 2nd stage base. It has not reached a 3rd or 4th stage base.
One negative I can think of: It has had a #1 in IBD industry rankings for a long time, and it is ranked #5 in their IBD industry.
What do you all think? I appreciate your CANSLIM comments.
Thanks,
Joe McCall
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<DIV><FONT size=2>Hi Joe:</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>With 4 distribution days in the last 6, and a clear failure to
break its old high ($30) today, and the fact that its RS appears to me to be
lagging other leaders of this bull (YHOO was at $25 on April 7 - compare that
to, HITK, SSYS, MTLG, etc...) I personally would be looking for reasons to sell.
In fact, at the open today, $30 looked to me like an excellant risk/reward short
entry, with a tight stop at $30.85.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>JMHO, and you should know that I have been a bit too cautious
for most of this 3-month bull.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Cheers,</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Ian</FONT></DIV>
<DIV> </DIV>
<DIV> </DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A href="mailto:jvmccall@yahoo.com" title=jvmccall@yahoo.com>Joe McCall</A>
</DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A
href="mailto:canslim@lists.xmission.com"
title=canslim@lists.xmission.com>canslim@lists.xmission.com</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Friday, June 06, 2003 8:36 AM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Sell Yahoo?</DIV>
<DIV><BR></DIV>
<DIV><FONT face=Tahoma size=2>I hope you all don't mind me asking your opinion
on this, but I can't think of a better place to go.</FONT></DIV>
<DIV><FONT face=Tahoma size=2></FONT> </DIV>
<DIV><FONT face=Tahoma size=2>I am up about 35% on Yahoo. I have never
had a stock do this well before! </FONT><FONT face=Tahoma size=2>I think
I should keep it for a little while longer until I see stronger institutional
selling, but I am getting nervous. It is MUCH harder to decide when
to sell a stock than when to buy it.</FONT></DIV>
<DIV><FONT face=Tahoma size=2></FONT> </DIV>
<DIV><FONT face=Tahoma size=2>Yahoo dropped a little bit after it appeared on
the cover of BusinessWeek, but it is climbing slightly again. Let me
list the reasons why I think I should hold on to it for a little while, and
you can comment on my thoughts if you like.</FONT></DIV>
<DIV><FONT face=Tahoma size=2></FONT> </DIV>
<UL>
<LI><FONT face=Tahoma size=2>I see only 4 distribution weeks in the last 6
months. </FONT>
<LI><FONT face=Tahoma size=2>The RS line is still rising, although it may
have started flattening out lately. </FONT>
<LI><FONT face=Tahoma size=2>WON recommends drawing a line along the last 2
or 3 peaks on a weekly chart and sell when a stock crosses it over it.
This hasn't happened yet. </FONT>
<LI><FONT face=Tahoma size=2>I see it in a 2nd stage base. It has not
reached a 3rd or 4th stage base.</FONT></LI></UL>
<DIV><FONT face=Tahoma size=2>One negative I can think of: <FONT face=Tahoma
size=2>It has had a #1 in IBD industry rankings for a long time, and it is
ranked #5 in their IBD industry. </FONT></DIV></FONT>
<DIV><FONT face=Tahoma size=2></FONT> </DIV>
<DIV><FONT face=Tahoma size=2>What do you all think? I appreciate your
CANSLIM comments.</FONT></DIV>
<DIV><FONT face=Tahoma size=2></FONT> </DIV>
<DIV><FONT face=Tahoma size=2>Thanks,</FONT></DIV>
<DIV><FONT face=Tahoma size=2></FONT> </DIV>
<DIV><FONT face=Tahoma size=2>Joe McCall</FONT></DIV></BLOCKQUOTE></BODY></HTML>
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