Re: [CANSLIM] LEND

From: Tomas <tomas986@yahoo.com>
Subject: Re: [CANSLIM] LEND
Date: Fri, 8 Aug 2003 09:24:29 -0700 (PDT)

Previous Article (by Subject): Re: [CANSLIM] LEND "DMC197807"
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DMC,

Thanks for the in depth analysis.  

tomas

- --- DMC197807 <dmc197807@comcast.net> wrote:
> 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
> 
> 
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