RE: [CANSLIM] WSB and WRLD

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] WSB and WRLD
Date: Tue, 12 Aug 2003 22:00:08 -0500
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Hi Jeff,

Both these stocks are in no man's land technically and therefore extremely
risky.

WSB broke out of a 3rd stage base back in mid April at about $9.25. More
recently it sliced through the 50dMA on very high  volume, generally a sell flag
in intermediate term trading. Now it's stuck below the 50dMA with no clear
direction and support very far away.

WRLD broke out of a 2 year base in mid April, again at about $9. More recently
it also sliced through its 50dMA twice within a few days, the latest on 7/23.
It's also stuck below the 50dMA with no clear direction.

I've seen example after example over the years where stocks like this suddenly
gap down from places like this, so even a hard stop wouldn't protect you from a
serious loss.

If you like pullback entries rather than breakout entries, at least find
something that's pulled back gently to support on light volume. That could be
support at the bottom of a trend line or support at an intermediate term moving
average such as the 50 dMA.

Katherine

  -----Original Message-----
  From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Jeff Henderson
  Sent: Tuesday, August 12, 2003 5:40 PM
  To: Canslim
  Subject: [CANSLIM] WSB and WRLD


  I was thinking about longing both of these in the event that they up tick past
today's highs. Does this look good or not to you?



  Jeff H.

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<DIV><SPAN class=3D484394702-13082003>Hi Jeff,</SPAN></DIV>
<DIV><SPAN class=3D484394702-13082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D484394702-13082003>Both these stocks are in no man's =
land=20
technically and therefore extremely risky.</SPAN></DIV>
<DIV><SPAN class=3D484394702-13082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D484394702-13082003>WSB broke out of a 3rd stage base =
back in=20
mid April at about $9.25. More recently it sliced through the 50dMA on =
very=20
high&nbsp; volume, generally a sell flag in intermediate term trading. =
Now it's=20
stuck below the 50dMA with no clear direction and support very far=20
away.</SPAN></DIV>
<DIV><SPAN class=3D484394702-13082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D484394702-13082003>WRLD broke out of a 2 year base in =
mid=20
April, again at about $9. More recently it also sliced through its 50dMA =
twice=20
within a few days, the latest on 7/23. It's also stuck below the 50dMA =
with no=20
clear direction.</SPAN></DIV>
<DIV><SPAN class=3D484394702-13082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D484394702-13082003>I've seen example after example =
over the=20
years where stocks like this suddenly gap down from places like this, so =
even a=20
hard stop wouldn't protect you from a serious loss. </SPAN></DIV>
<DIV><SPAN class=3D484394702-13082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D484394702-13082003>If you like pullback entries =
rather than=20
breakout entries, at least find something that's pulled back gently to =
support=20
on light volume. That could be support at the bottom of a trend line or =
support=20
at an intermediate term moving average such as the 50 dMA. </SPAN></DIV>
<DIV><SPAN class=3D484394702-13082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D484394702-13082003>Katherine</SPAN></DIV>
<DIV><SPAN class=3D484394702-13082003></SPAN>&nbsp;</DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
  <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
  size=3D2>-----Original Message-----<BR><B>From:</B>=20
  owner-canslim@lists.xmission.com=20
  [mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Jeff=20
  Henderson<BR><B>Sent:</B> Tuesday, August 12, 2003 5:40 =
PM<BR><B>To:</B>=20
  Canslim<BR><B>Subject:</B> [CANSLIM] WSB and WRLD<BR><BR></FONT></DIV>
  <DIV class=3DSection1>
  <P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">I was thinking about =
longing both=20
  of these in the event that they up tick past <SPAN =
class=3DGramE>today&#8217;s</SPAN>=20
  highs. Does this look good or not to you?<o:p></o:p></SPAN></FONT></P>
  <P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p>&nbsp;</o:p></SPAN></FONT></P>
  <P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Jeff=20
  H.<o:p></o:p></SPAN></FONT></P></DIV></BLOCKQUOTE></BODY></HTML>

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