Go to Jeff Salisbury LWGate Home Page.From: michael_niemotka@baxter.com
Subject: RE: [CANSLIM] SHFL
Date: Tue, 19 Aug 2003 14:41:45 -0500
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Do does this possibly represent a nice shorting opportunity?
Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com
"Katherine Malm"
<kmalm@earthlink.net> To: canslim@lists.xmission.com
Sent by: cc:
owner-canslim@lists.xm Subject: RE: [CANSLIM] SHFL
ission.com
08/19/2003 02:25 PM
Please respond to
canslim
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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