Go to Jeff Salisbury LWGate Home Page.From: Bill Triffet <btriffet@earthlink.net>
Subject: Re: Re: [CANSLIM] Low Volume Pullback Below Pivot
Date: Mon, 21 Jul 2003 09:25:59 -0700 (PDT)
Next Article (by Author): [CANSLIM] BreakoutWatch Filters & BE "Duane Runnels"
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Hi John, I would assume you are aware BreakoutWatch is sending you breakouts based o= n purely technical indicators - NOT fundimentals. It's up to you to decide = whether its fundies are up to par. BE's quarter over quarter earnings are t= oo low for my version of canslim though. I think that is what the others we= re trying to say as well. My take on it is if you can't sleep over it, sell it and move on. I know, I= 've done this myself in the past. - -- Bill - -------Original Message------- From: John Calkins <jcalkins@olypen.com> Sent: 07/20/03 10:10 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot >=20 > I guess I'm missing something here. BE broke out on BreakoutWatch last Tuesday with a "relative" high rating following the WON screens with "reasonable" right cup and handle scores. My question was not if this stock was a poor choice, because it was a good choice at the time it was bought. My question somehow got lost in the advice of it shouldn't have been purchaced in the first place, wich surprised the heck out of me because of where I got the information to buy it. My question again is, now that I own it, I purchacesd BE just above the pivot on Tuesday. It had pulled back on low volume right away to my 7% mental stop and is sitting there. Again, I will sell if it falls below it, but this low volume has me hoping (you know hoping when I should be fearing, fearing when I should be hoping). I don't mind a low volume pullback above the pivot. I get a little lost in this grey area between the pivot an the stop loss. Should I be hoping or fearing what the volume action is doing with this low volume pull back or shoud I wait a bit for a high volume pull back to pull the plug? Getting back to the selecting of BE to purchace, it was rated number 21 out of 50 for the days CE score. If I'm so wrong for selecting this stock to purchace, should I stick to the top 10 or top 5 or a CE score of 17 of 18. If someone has some suggestions on tightening up my screens maybe this is where I indeed need the advice so that I'm not stuck with these types of decisions to make. Maybe my alerts will signal me once a month instead of once a week for a possible buy?? JC - ----- Original Message ----- From: <Spencer48@aol.com> To: <canslim@lists.xmission.com> Sent: Sunday, July 20, 2003 11:23 AM Subject: Re: [CANSLIM] Low Volume Pullback Below Pivot > Dave & John: > > I agree with Katherine. Putting money in BE would be a risky venture, > under the CANSLIM protocol. > > Not only is its earnings for the last 5 years volatile (to say the > least), but there is too much overhead resistance to-in my opinion-make it > acceptable (even though it has made a nice base with a rising 200 and 50 DMA. > Additonally, the volume on its bottoms are nice and the price of the stock in > relation to its 2 Moving Averages bodes that the stock is short term strong). > > However, the downside overtakes the upsides: Specifically, the number of > funds (according to DGO) investing in BE is declining. Also, the Mgt/Fund > ratio (funds hold 27% of the stock, while management holds only 1%) is 27. > And, as I mentioned, the earnings are anything but CANSLIMMISH. > > Although, the industry is fine, to me this stock seems a laggard in its > industry. At the most, I believe it will go up to 12=C2=BD before pausin= g, and > with the weakness that the Mkt. appears to be signaling, the pause in BE could > become a freefall back to its 2nd bottom of 6. > > jans > > > > In a message dated 7/18/2003 12:24:28 PM Eastern Daylight Time, > kmalm@earthlink.net writes: > > << While BE provided entry points closer to its bottom, I don't think it's > provided a comfortable CANSLIM intermediate/term entry point just yet. > Entries on pullbacks would then be a riskier venture, though highly do-able. > If willing to take on the risk, I would look to the general price action > itself to find a pullback entry much closer to the bottom of a logical > support area if entering while the stock's still forming a more convincing > RHS. If the market rolls over, then an entry here makes it easier to > determine if the stock is going to roll over by itself or in response to > generally weak market action. > >> > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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