Re: [CANSLIM] SHFL

From: "Dave Wood" <davewood@together.net>
Subject: Re: [CANSLIM] SHFL
Date: Tue, 19 Aug 2003 15:41:09 -0400

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Katherine,

Thank you. In other words its might be the 'amateurs' jumping at the story
rather than the 'pros' taking a position? Your insights are always very
helpful and appreciated.

Dave







- ----- Original Message ----- 
From: "Katherine Malm" <kmalm@earthlink.net>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 19, 2003 3:25 PM
Subject: RE: [CANSLIM] SHFL


> Hi Dave,
>
> A high volume surge first thing in the morning is not particularly
unusual.
> However, the first hour of trade is generally considered to be primarily
> retail rather than institutional in composition. I'm always wary of a big
> move like that on the same day that the stock is featured in the IBD, as
> there are so many eyes on it. That doesn't mean that today's breakout
isn't
> for real, but this is the kind of breakout I like to stay away from. Any
> sort of weakness in the stock and all the out-of-the-box CANSLIMers will
be
> running for the hills in a flash.
>
> Katherine
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Dave Wood
> Sent: Tuesday, August 19, 2003 1:25 PM
> To: canslim@lists.xmission.com
> Subject: [CANSLIM] SHFL
>
>
> Hi,
>
>     I also bought SHFL this morning @ $31.14 (9:44am.) What struck me
funny
> was the volume. Ameritrade streamer already had daily volume @ 300K which
is
> its average daily volume. I know WON emphasizes large volume breakouts,
but
> when a stock hits ADV within minutes of the open, what does this indicate?
> an institution making a large purchase? I am new to streamer, so I never
> happened to see this degree of activity so quickly.
>
> Thanks,
>
> Dave
>
>
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