RE: [CANSLIM] SHFL

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] SHFL
Date: Tue, 19 Aug 2003 16:56:57 -0500
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Hi Mike,

Not necessarily. A big surge that's met with heavy selling, pushing the
stock to the bottom of its range on a breakout day, is a sign of trouble,
even if it doesn't close below the pivot. That's especially troublesome on a
day when the rest of the market is acting well. Trust your gut on these
things....if something doesn't look right, there's probably trouble in River
City.

Katherine

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of
michael_niemotka@baxter.com
Sent: Tuesday, August 19, 2003 4:03 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] SHFL



Katherine,

When you speak of a tail down close, does that mean that it still closes
above the pivot point, or would you look for a stock to have a failed
breakout with the type of action that you described?

Thanks

Mike


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 03:38 PM
                    Please respond to
                    canslim






Hi Mike,

Definitely not, unless you're a pure gambler. I'd look for signs of failure
before shorting *anything*.

For example, at the time of a breakout, one of the signs of failure would
be
a high volume surge up, a wide range day, and a close at the bottom of the
range (tail down). That would be a sign to get out of a breakout, but not
necessarily a sign to short. After the stock behaves like this, it will
often rise on puny volume for a few days then start to fall. Now *that's* a
place to short, after the failure is clear, the retest of a price range
(resistance) fails, and the stock moves downward with more clarity.

Katherine

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of
michael_niemotka@baxter.com
Sent: Tuesday, August 19, 2003 2:42 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] SHFL



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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