Re: [CANSLIM] SHFL

From: Richard Yoder <ryoder@snowcrest.net>
Subject: Re: [CANSLIM] SHFL
Date: Tue, 19 Aug 2003 14:28:58 -0700

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It sure broke out of something today!         Dick

Katherine Malm wrote:

>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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