Re: Re: [CANSLIM] MVL

From: michael_niemotka@baxter.com
Subject: Re: Re: [CANSLIM] MVL
Date: Wed, 2 Jul 2003 11:51:13 -0500
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Top of Thread: Re: Re: [CANSLIM] MVL Bill Triffet
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Bill,

An excellent point.  Looks like my decision will be made for me by the end
of today, if it does not get above 50dMA.

Mike


Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com


                                                                                                                            
                    "Bill Triffet"                                                                                          
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                    07/02/2003 11:04 AM                                                                                     
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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.<<

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