Go to Jeff Salisbury LWGate Home Page.From: Bill Triffet <btriffet@earthlink.net>
Subject: Re: Re: [CANSLIM] MVL
Date: Wed, 2 Jul 2003 09:04:09 -0700 (PDT)
Next Article (by Author): Re: [CANSLIM] MVL Bob Johnson
Next in Thread: Re: Re: [CANSLIM] MVL michael_niemotka@baxter.com
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- ------=_Part_3989_3964814.1057161813345 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit One other major area to not forget is industry strength. MVLs' current group strength is horrible at 123/192 (cwhCharts) and pointing downwards. Looking back at all my recent pullbacks were companys in lagging groups. Remember the saying, " It's hard to soar with the eagles when your flying with turkeys". (g) Myself, I'm being MUCH more pickey about industry ranking. I'm looking to see the industry rising in relative strength. - -- Bill >>IMHO - it looks like the time to get out was after it failed on the pullback to beat the June High. Showing weakness. Then it lost around $7 in four days on increasing volume, more weakness. Now the with the last two peaks on the chart you can construct a trendline headed south. The problem for now seems to be what looks like a gap 7 days ago between the 21 and 20 dollar level. Gaps prove to be tough resistance areas.<< - ------=_Part_3989_3964814.1057161813345 Content-Type: TEXT/HTML; name=MESSAGE.HTML; charset=us-ascii Content-Transfer-Encoding: 7bit Content-Disposition: attachment; filename=MESSAGE.HTML <DIV>IMHO - it looks like the time to get out was after it failed on the pullback to beat the June High. Showing weakness. Then it lost around $7 in four days on increasing volume, more weakness. Now the with the last two peaks on the chart you can construct a trendline headed south. The problem for now seems to be what looks like a gap 7 days ago between the 21 and 20 dollar level. Gaps prove to be tough resistance areas.<BR><BR><B><I>michael_niemotka@baxter.com</I></B> wrote: <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid; WIDTH: 100%">As a question to the group,<BR><BR>Am I reading the chart correctly, in that MVL is now showing a sell sign<BR>(yellow flag?) in that it is still below the 50dMA. Katherine had<BR>mentioned that usually, a stock should show a rebound above that line in<BR>about 5 days, and you would like to see that move above the line on strong<BR>volume. So far, MVL has not been able to do that.<BR><BR>Overall, company is still strong, but I am wondering if I need to exit now,<BR>and maybe keep it on the watchlist for another entry point.<BR><BR>Thanks<BR><BR>Mike<BR><BR>Mike Niemotka , PE<BR>Sr. Principal Engineer<BR>Baxter Healthcare Corporation<BR>Route 120 & Wilson Road<BR>Round Lake, IL 60073<BR>Tel (847) 270-4075<BR>Fax (847) 270-4525<BR>michael_niemotka@baxter.com<BR><BR><BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your email.</BLOCKQUOTE></DIV><p><hr SIZE=1> Do you Yahoo!?<br> <a href="http://pa.yahoo.com/*http://rd.yahoo.com/evt=1207/*http://promo.yahoo.com/sbc/">SBC Yahoo! DSL</a> - Now only $29.95 per month! - ------=_Part_3989_3964814.1057161813345-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
Next Article (by Author): Re: [CANSLIM] MVL Bob Johnson
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