Re: [CANSLIM] LEND

From: "DMC197807" <dmc197807@comcast.net>
Subject: Re: [CANSLIM] LEND
Date: Fri, 8 Aug 2003 08:55:10 -0700

Next Article (by Author): Re: [CANSLIM] HELE "DMC197807"
Previous Article (by Author): RE: [CANSLIM] IBD Meetup
Top of Thread: Re: [CANSLIM] LEND Tomas
Next in Thread: Re: [CANSLIM] LEND Tomas
Articles sorted by: [Date] [Author] [Subject]

Avi,

On LEND you have to see that the trend has changed.  It was once up and is
now down.  A correcting market could take it down significantly further.
Since $26.15 it has made lower highs and lower lows.  For this one to
reverse it would need to change its trend, and I don't see that happening
for a while.  Best to let it go and look to other opportunities at this
point.

Stockcharts (for pay) has a nice function where you can program in volume by
day (horizontal) and volume by price (vertical).  If you look at these two
dimensions of volume you can see clearly that a tremendous amount of LEND
has been traded since late May ($15) and also at prices between $15 and
$22.5.  These are all still losing positions, mostly, and so it is a lot of
overhead supply.  Every time the stock trades up, longtime holders and
scalpers will be there to feed shares to the market.   The last run up from
$15 to $17.50 is failing now, but you can see that in the daily volume bars
since with every step up the volume fell.

Looking forward to the future on this stock, on the chart alone, you can see
support (weak) at $10.50 or so, again at $9.50 and down around $$7.  The
chart will indicate when the selling is completely exhausted by a volume
selloff, or a ratchet down selloff over time with low volume.

Needless to say, I haven't mentioned the bubble effect that the
homebuilders' rise has had on something like a home lender, and the
necessarily negative effect the real estate asset bubble, when it bursts,
will have on builders, suppliers, lenders and homeowners.

DMC


- ----- Original Message -----
From: "Bistricer, Avi" <BistricerA@coned.com>
To: <canslim@lists.xmission.com>
Sent: Friday, August 08, 2003 7:50 AM
Subject: [CANSLIM] LEND


Any opinion on LEND at this point.

I was lucky and got in at 13.5 and see it all the way to 26+

I did not sell when it went down for 7 days or so.

I put stop loss at 15 and flushed out at 14.60 or so most profit evaporated.

It is now going up.

what is the lesson ?


Avi Bistricer, DBA
212.460.6695
bistricera@coned.com


- -
- -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.

Go to Jeff Salisbury LWGate Home Page.