Re: [CANSLIM] HITK

From: "DMC197807" <dmc197807@comcast.net>
Subject: Re: [CANSLIM] HITK
Date: Mon, 28 Jul 2003 11:19:53 -0700
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MessageGene,

Not to parse this too closely, but I assumed that when you wrote "1/3 of =
daily volume already" it was indicating good rather than poor volume?  =
For poor volume I would have expected "only 1/3 of daily volume after 2 =
hours" or something like that.

Lots of other, more promising stocks to watch today, HITK is one for =
after hours analysis. =20

Btw, what amount of volume, assuming HITK can hold onto these gains, =
would be good volume for the day (that is foretell higher prices without =
further selloffs)?  To me that would be somewhere in the neighborhood of =
750,000 to 800,000 shares.

DMC
  ----- Original Message -----=20
  From: Gene Ricci=20
  To: canslim@lists.xmission.com=20
  Sent: Monday, July 28, 2003 11:01 AM
  Subject: Re: [CANSLIM] HITK


  DMC,=20

  I didn't say that the volume was high... I said "The power of the =
newsletter assumes control... up 6% and 1/3 of the daily volume =
already." this was at 9.30 am.

  I wonder what will happen if it breaks $26.70 with some amount of =
volume?
  Gene
    ----- Original Message -----=20
    From: DMC197807=20
    To: canslim@lists.xmission.com=20
    Sent: Monday, July 28, 2003 12:35 PM
    Subject: Re: [CANSLIM] HITK


    Pete,

    I'm always curious when someone mentions a pivot point.  Where is =
the pivot point you are referring to?

    Good risk/reward will depend on your time frame.  The volatility is =
in this stock now and it could easily swing 6-10% on any given day in =
either direction.  It's ATR is now a whopping 3.23, or 12% of the =
current stock price.  Let's discount that by a third just because of the =
recent plunge and you still have an ATR at 8% of the stock's price.

    So if you want to trade it intraday and you can buy low and sell =
high, it can be attractive.  If you're on the wrong side of the swing, =
though, it can be painful.  What's interesting about the chart to me is =
you look at a weekly and there appears to be support just below $20, but =
you look at the daily and it's not there.

    As to volume, Gene thought volume was high and you think it's drying =
up.  Who's right?  I dunno, my guess is you are, but I think you're =
drawing the wrong conclusion from the volume.  The stock is trying to =
rally above the 200 ema today on falling volume; I think that's bearish =
short term for this stock.  If it were rallying hard on a volume spike =
that would mean people were queueing up to buy the stock.  I don't think =
that's happening.  I think a downward trend with falling volume =
indicates more potential downside.

    I'm looking to buy it when it has little chance of falling further =
and very good chances of rising higher.  Here I think the risk reward is =
3-1 it goes down below 20, 5-1 it goes back to support at 15; 5-1 it =
rises from here to 31 and climbs, and 15-1 it rises above 36.

    JMHO,

    DMC

      ----- Original Message -----=20
      From: Pete=20
      To: canslim@lists.xmission.com=20
      Sent: Monday, July 28, 2003 9:31 AM
      Subject: Re: [CANSLIM] HITK


      Obviously, the chart looks bad.  However it does appear it could =
bounce of the previous pivot point.  With todays's gap and down volume =
drying up so my question would be how to set up a good risk/reward =
ratio.=20

      I'm having a hard time finding fundies on this but at first glance =
it looks they are having a little deceleration in earning/revenue with =
little analyst coverage, could check funds on morningstar.com.  Not sure =
of competition.


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<DIV><FONT face=3DArial size=3D2>Gene,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>Not to parse this too closely, but I =
assumed that=20
when you wrote "1/3 of daily volume already" it was indicating good =
rather than=20
poor volume?&nbsp; For poor volume I would have expected "only 1/3 of =
daily=20
volume after 2 hours" or something like that.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>Lots of other, more promising stocks to =
watch=20
today, HITK is one for after hours analysis.&nbsp; </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>Btw, what amount of volume, assuming =
HITK can hold=20
onto these gains, would be good volume for the day (that is foretell =
higher=20
prices without further selloffs)?&nbsp; To me that would be somewhere in =
the=20
neighborhood of 750,000 to 800,000 shares.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>DMC</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A title=3Dgenr@swbell.net href=3D"mailto:genr@swbell.net">Gene =
Ricci</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
  =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
 </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, July 28, 2003 =
11:01=20
AM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
HITK</DIV>
  <DIV><BR></DIV>
  <DIV><FONT face=3D"Comic Sans MS">DMC, </FONT></DIV>
  <DIV><FONT face=3D"Comic Sans MS"></FONT>&nbsp;</DIV>
  <DIV><FONT face=3D"Comic Sans MS">I didn't say that the volume was =
high... I=20
  said "The power of the newsletter assumes control... up 6% and 1/3 of =
the=20
  daily volume already." this was at 9.30 am.</FONT></DIV>
  <DIV><FONT face=3D"Comic Sans MS"></FONT>&nbsp;</DIV>
  <DIV><FONT face=3D"Comic Sans MS">I wonder what will happen if it =
breaks $26.70=20
  with some amount of volume?</FONT></DIV>
  <DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV>
  <BLOCKQUOTE dir=3Dltr=20
  style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
    <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
    <DIV=20
    style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
    <A title=3Ddmc197807@comcast.net=20
    href=3D"mailto:dmc197807@comcast.net">DMC197807</A> </DIV>
    <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
    =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
    </DIV>
    <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, July 28, 2003 =
12:35=20
    PM</DIV>
    <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
HITK</DIV>
    <DIV><BR></DIV>
    <DIV><FONT face=3DArial size=3D2>Pete,</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <DIV><FONT face=3DArial size=3D2>I'm always curious when someone =
mentions a=20
    pivot point.&nbsp; Where is the pivot point you are referring=20
    to?</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <DIV><FONT face=3DArial size=3D2>Good risk/reward will depend on =
your time=20
    frame.&nbsp; The volatility is in this stock now and it could easily =
swing=20
    6-10% on any given day in either direction.&nbsp; It's ATR is now a =
whopping=20
    3.23, or 12% of the current stock price.&nbsp; Let's discount that =
by a=20
    third just because of the recent plunge and you still have an ATR at =
8% of=20
    the stock's price.</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <DIV><FONT face=3DArial size=3D2>So if you want to trade it intraday =
and you can=20
    buy low and sell high, it can be attractive.&nbsp; If you're on the =
wrong=20
    side of the swing, though, it can be painful.&nbsp; What's =
interesting about=20
    the chart to me is you look at a weekly and there appears to be =
support just=20
    below $20, but you look at the daily and it's not =
there.</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <DIV><FONT face=3DArial size=3D2>As to volume, Gene thought volume =
was high and=20
    you think it's drying up.&nbsp; Who's right?&nbsp; I dunno, my guess =
is you=20
    are, but I think you're drawing the wrong conclusion from the =
volume.&nbsp;=20
    The stock is trying to rally above the 200 ema today on falling =
volume; I=20
    think that's bearish short term for this stock.&nbsp; If it were =
rallying=20
    hard on a volume spike that would mean people were queueing up to =
buy the=20
    stock.&nbsp; I don't think that's happening.&nbsp; I think a =
downward trend=20
    with falling volume indicates more potential downside.</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <DIV><FONT face=3DArial size=3D2>I'm looking to buy it when it has =
little chance=20
    of falling further and very good chances of rising higher.&nbsp; =
Here I=20
    think the risk reward is 3-1 it goes down below 20, 5-1 it goes back =
to=20
    support at 15; 5-1 it rises from here to 31 and climbs, and 15-1 it =
rises=20
    above 36.</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <DIV><FONT face=3DArial size=3D2>JMHO,</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <DIV><FONT face=3DArial size=3D2>DMC</FONT></DIV>
    <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
    <BLOCKQUOTE dir=3Dltr=20
    style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
      <DIV style=3D"FONT: 10pt arial">----- Original Message ----- =
</DIV>
      <DIV=20
      style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
      <A title=3Dpeten123@nc.rr.com =
href=3D"mailto:peten123@nc.rr.com">Pete</A>=20
      </DIV>
      <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
      title=3Dcanslim@lists.xmission.com=20
      =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
      </DIV>
      <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Monday, July 28, 2003 =
9:31=20
      AM</DIV>
      <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
HITK</DIV>
      <DIV><BR></DIV>
      <DIV><FONT face=3DArial size=3D2>Obviously, the chart looks =
bad.&nbsp; However=20
      it does appear it could bounce of the previous pivot point.&nbsp; =
With=20
      todays's gap and down volume drying up so my question would be how =
to set=20
      up a good risk/reward ratio. </FONT></DIV>
      <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
      <DIV><FONT face=3DArial size=3D2>I'm having a hard time finding =
fundies on=20
      this but at first glance it looks they are having a little =
deceleration in=20
      earning/revenue with little analyst coverage, could check funds on =

      morningstar.com.&nbsp; Not sure of competition.</FONT></DIV>
      <BLOCKQUOTE dir=3Dltr=20
      style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"><FONT=20
        face=3DArial=20
size=3D2></FONT>&nbsp;</BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE=
></BODY></HTML>

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