RE: [CANSLIM] SHFL

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] SHFL
Date: Tue, 19 Aug 2003 14:25:31 -0500

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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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