From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3465 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Wednesday, August 6 2003 Volume 02 : Number 3465 In this issue: Re: [CANSLIM] HITK--Volume Studies Re: [CANSLIM] HITK--Volume Studies ---------------------------------------------------------------------- Date: Wed, 6 Aug 2003 13:13:05 -0400 (EDT) From: Yien T Lung Subject: Re: [CANSLIM] HITK--Volume Studies DMC Concerning HITK, what were the technical indicators that told you had to get out of this stock ASAP? From my limited undertanding of TA (so bear with me), HITK should have been sold on July 16 because: - - Smashed through the 50MA support - - Going down at above average volume - - Closed near to the low of the day Were there other factors that justified getting out prior to July 16? Thanks Yien But other than that, On Wed, 6 Aug 2003, DMC197807 wrote: > One problem with threads and email lists is the topics tend to lack > follow-through. The newest hot topic or stock du jour takes over the > airspace and previous topics disappear. Perhaps they should, but I think > the HITK education is out there for people who want to take the time to > understand why this stock which gapped and crapped was an unlikely delight > at $25, $26 or "under $25". One problem with getting your list of MILSCANs > and IBD 100 stocks is you tend to love them long after their usefulness has > evaporated (or long before they become useful again). > > First off, if you can part with some pi$tole$, may I suggest buying Donald > Cassidy's Trading with Volume. As you can see from the reviews, some people > think it's great, some think it doesn't tell you anything new. I think for > $25 and a few hours of dedicated reading it's pretty good insurance against > buying an exhaustion gap or jumping in to buy HITK as it's crumbling. If it > saves you one bad trade (guaranteed to save you more, but . . .) then it's > worth about 10 times the purchase price. It's generally not available in > libraries: > > http://www.amazon.com/exec/obidos/tg/detail/-/0071376046/qid=1060182177/sr=1 > -1/ref=sr_1_1/102-9779625-0378563?v=glance&s=books#product-details > > Those who trade on price alone are like people who fly airplanes on > visibility alone. Or maybe trying to trade on price action alone is like > trying to speak a foreign language with nothing but tons of vocabulary--no > grammar, no semantic rules, no idioms, just a lot of words. If you've ever > encountered a newly arrived foreign student in the hard sciences you get the > drift. Volume is a key and crucial instrument. It's really too bad we can > trade volume as well as price (that is, buy options on volume levels, rather > than just price levels), but there's probably no efficient way to do it. > Otoh, using volume to understand price is key. > > Another useful thing is just to scroll down this note, starting at the > bottom and noting the dates. If you have a dual screen setup, you might put > the daily or 60 minute chart of HITK up against it, and try to see what was > going on at what point in the conversation. > > HITK is continuing its short, squat candlestick march on low volume, down > below $23 as I type. How long will the bleeding last? Who knows, but at > this angle and with this momentum (volume) it can be excruciating. How will > it end? Impossible to say, but a likely scenario will be the wholesale > dumping of shares if $20 doesn't hold. I don't see it holding. I think it > could collapse tomorrow or the next day, then we might have an "echo" of the > plunge from $40 to $25, with a little boost up to 28 (and all the bullish > chatter) before it finds its proper bottom. Check now the widening of the > Bollinger bands on the bottom side, giving this thing plenty of space to > run. > > So, let's take another look around 8/15 to see if it has fallen through 20 > to 15 and bounced. Looking out longer term, on the weekly chart, you can > see some support at $10 and what looks like rock bottom fisher/vulture > carcass at around $7-8. So, short term support at $20, $15; medium term > support at $10 and an "event" or crushingly bad market could take us to $7. > > DMC > > ----- Original Message ----- > From: "DMC197807" > To: > Sent: Monday, August 04, 2003 8:56 AM > Subject: Re: [CANSLIM] HITK > > > > Perhaps members of the group will find it educational to follow HITK for a > > little while longer. Nobody has a crystal ball on these things, but > > experience has taught me the hard way that not paying attention to price > > action and volume can be costly. > > > > As I opined earlier, this chart pattern is a very familiar, broken stock > > picture. Volume keeps fading away as buyers back away from this name and > > holders are just beginning to get the picture that the bleeding has only > > begun, and hasn't begun to stop yet. We've now crossed up above the 200 > dma > > very weakly and fallen back down through it. I'd expect this stock to > stay > > below the 200 dma for a significant amount of time from now on, long after > > all the averages complete their southerly curves. Since there are few > > buyers it won't take many sellers to show up, dump their shares and get > out. > > That accounts for the small but steady march south. The Bollinger Bands > > have now widened significantly; when a stock is rallying it can climb > along > > the upper band for a long time; the same happens on the bottom band when > > it's falling. The bottom band is pointed directly toward $15 right now; I > > see no reason why, given enough time this summer, it won't achieve and > then > > overshoot that number. If HITK had options, I'd be buying puts here. If > I > > was an HITK owner, I'd get out at any price right now. > > > > DMC > > > > ----- Original Message ----- > > From: "DMC197807" > > To: > > Sent: Monday, July 28, 2003 11:05 AM > > Subject: Re: [CANSLIM] HITK > > > > > > > Fanus, > > > > > > Thanks for your note. Each of us has his own system. Back in May I > > traded > > > HITK off the center of the Bollinger bands for a bounce which I got and > I > > > was monitoring it off shorter time frame charts. The mistake I made was > > not > > > holding on for the ride further up, but I was leaving for 10 days on the > > > East Coast and couldn't afford to keep the position open, so I left with > > > 9.3% gain in 7 days. If I can annualize that gain it's better than 300% > > per > > > year, so I like it. I kept a tight stop on the position so maybe your > > > calculation of the risk wasn't mine. > > > > > > Everyone looks at risk and reward differently. You may see a stock > which > > > can rise up to 35 or 40 fairly easily (the reward) but I see a broken > > chart > > > and the likelihood of that happening as very, very slim. More likely, > > given > > > the pattern, is for the stock to pause and hiccup and continue to break > > > down. Or it could stabilize and idle here at the $22-28 range for a > > while. > > > However, there have been a lot of buyers on the way up to $49 and not > all > > of > > > them have sold. It often takes several days for the totality of a drop > > from > > > 49 to 25 to sink in. A lot of people hope it will recover, a lot try to > > > trade out, but in the end the weight of the chart often produces the > > > inevitable. > > > > > > Another way to look at your calculation is to try to figure out the > > > probabilities within a given time frame (let's take 2 weeks, or 10 > trading > > > days) of your two speculation scenarios to play out: 1) drops to 23? > > this > > > is highly likely, imho, given the ATR where it is, call it 2-1; or 2) > > rises > > > to 35 or 40? this is a 40-1 shot, to me, in this time period, or worse. > > So > > > you calculate the value of the two and, with the stock where it is now, > > > 26.50, you have a 50% chance of losing $3.50, or -1.75, and a 2.5% > chance > > of > > > it rising to 35, or $0.87, so I wouldn't take your approach, not even > with > > > your money. > > > > > > What is the better approach? Patience, let the plunge work through its > > > natural progression. > > > > > > This is what makes a market, though. Regards, > > > > > > DMC > > > > > > > > > > > > ----- Original Message ----- > > > From: "Fanus" > > > To: > > > Sent: Monday, July 28, 2003 10:19 AM > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > I haven't look at the CANSLIM characteristics, but > > > > risk/reward look pretty good to me. > > > > > > > > If one trade it as a bounce off the 200DMA, then your > > > > stop can be just below it. Say around 23.00. You > > > > could have entered around 25.30 this morning, risking > > > > 2.30. If I was trading it, I would expect it to > > > > possibly stall at resistance around 35 to 40 which > > > > would be my profit target. A profit target of about > > > > 9.7 to 14.7. Risking 2.3 to get 9.7 is a risk/reward > > > > ratio of 1/4.2. Risking 1 dollar to make 4.2. Good > > > > enough for me. > > > > > > > > You mentioned that you bought HITK at 5/30/03 at > > > > 34.20. From my side, I do not see significant support > > > > close by, or a logical place to put a stop loss other > > > > than the 50DMA which were at 30.74 on that date. A > > > > risk of 3.46. You sold on 6/5 at 37.47; a profit of > > > > 3.27. So you risk 3.46 to make 3.27, a risk/reward > > > > ratio of 1/0.95. Risking 1 dollar to make 0.95. > > > > > > > > In my books, an entry now is much less risky than your > > > > entry on 5/30. > > > > > > > > Regards > > > > - Fanus > > > > > > > > > > > > --- DMC197807 wrote: > > > > > MessageGene, > > > > > > > > > > I understood that. However, I think it's > > > > > hard/dangerous to trade consistently (and safely) > > > > > from signals generated by newsletters and stock > > > > > pickers, or black boxes or discussion threads. I > > > > > assume you are out of HITK at this point? > > > > > > > > > > My comments were and are limited to trying to grasp > > > > > the total risk-reward on the name as indicated by > > > > > the chart. Still too risky for me, maybe not for > > > > > others. When the charts come into alignment, then > > > > > money is made more easily, although not without > > > > > risk. > > > > > > > > > > I took $3+ out of HITK at the end of May by > > > > > following my discipline (bot 5/30 at 34.20, sold 6/5 > > > > > at 37.47), and it was this experience which caught > > > > > my attention with your post. > > > > > > > > > > HITK may close this week higher or lower, and at > > > > > that point it may still not be a good speculation, > > > > > for my money. > > > > > > > > > > Good luck, > > > > > > > > > > DMC > > > > > > > > > > > > > > > ----- Original Message ----- > > > > > From: Gene Ricci > > > > > To: canslim@lists.xmission.com > > > > > Sent: Monday, July 28, 2003 9:32 AM > > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > > > > DMC, if you'll go back to my original email you'll > > > > > see that I was making an observation ... and passing > > > > > it on to potential holders of HITK .... based on a > > > > > buy signal from ChangeWave. > > > > > > > > > > 'If you still own HITK there may be a light in the > > > > > tunnel.' > > > > > > > > > > In the meantime I made 75 cents/share trading it > > > > > this morning (going long)... after the opening > > > > > pullback... > > > > > > > > > > Gene > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > ----- Original Message ----- > > > > > From: DMC197807 > > > > > To: canslim@lists.xmission.com > > > > > Sent: Monday, July 28, 2003 11:01 AM > > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > > > > Gene, > > > > > > > > > > Two thoughts come to mind. First is a ski area > > > > > I frequent. Just below the highest lift are some > > > > > cliffs which are out of bounds by regulation and > > > > > also by dint of pure reason: they look like > > > > > suicide. However, on any thick powder day there are > > > > > a number of youth with their snowboards and skis > > > > > doing the "extreme thing." For some reason only 2 > > > > > people have gotten killed there in my memory, and a > > > > > few bad accidents, but mostly these yahoos make it > > > > > through. It doesn't mean it isn't an absurd risk to > > > > > take, but there you are. > > > > > > > > > > Is HITK still a falling knife, or is it safe to > > > > > buy? > > > > > > > > > > Second is: what is volume during normal trading > > > > > and what is volume during a selloff? Clearly HITK > > > > > is in a selloff, so I like to look at something like > > > > > 10 day volume (or volume since the plunge) rather > > > > > than 60-day volume. Here the 60-day volume is > > > > > 583,000, but the most recent 8 days have coughed up > > > > > about 10 million shares, or 1.25 million per day. I > > > > > was looking at HITK early today and was surprised > > > > > that the first hour, amateur hour, didn't produce > > > > > more volume. It's now 2.5 hours into the trading > > > > > day and it's still at 330,000 shares. > > > > > > > > > > I think today is simply a pause on the way down. > > > > > I have no money in this name now and only look at > > > > > it to determine when, on a trading basis, the reward > > > > > might outweigh the risk. That event might not > > > > > happen for several weeks and might take place at a > > > > > higher price than today's (in fact, could easily do > > > > > so). > > > > > > > > > > Mostly I think of this endeavor as the opposite > > > > > of even recreational skiing. We want to find the > > > > > easiest, most risk free way of having fun (making > > > > > $$), not the adrenaline rushed version. If this > > > > > were a ski slope, my scans would be scouting for not > > > > > black diamond slopes or blue slopes. Unlike skiing, > > > > > here I'm on the hunt for easy green slopes and even > > > > > yellow bunny hop slopes. > > > > > > > > > > Good luck, > > > > > > > > > > DMC > > > > > ----- Original Message ----- > > > > > From: Gene Ricci > > > > > To: canslim@lists.xmission.com > > > > > Sent: Monday, July 28, 2003 7:35 AM > > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > > > > The power of the newsletter assumes control... > > > > > up 6% and 1/3 of the daily volume already. > > > > > > > > > > Gene > > > > > ----- Original Message ----- > > > > > From: DMC197807 > > > > > To: canslim@lists.xmission.com > > > > > Sent: Saturday, July 26, 2003 10:35 PM > > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > > > > Technically your risk/reward on this name > > > > > would be skewed toward risk at this point. The > > > > > chart shows no stopping yet, volume is still high > > > > > and the daily patterns are bearish. The price > > > > > dropped right through the 200 day EMA (25.85), is > > > > > below any support on the daily (there looks like > > > > > some support at $20 on the weekly). If $20 holds, > > > > > who's interested in buying for a quick off the bat > > > > > 20% loss? > > > > > > > > > > I don't actually see why $20 should hold for > > > > > more than a pause, anyway. To me there's no sense > > > > > in looking for "bad news," it's all in the chart > > > > > right now. > > > > > > > > > > JMHO, > > > > > > > > > > DMC > > > > > > > > > > > > > > > > > > > > ----- Original Message ----- > > > > > From: Gene Ricci > > > > > To: canslim@lists.xmission.com > > > > > Sent: Saturday, July 26, 2003 6:30 PM > > > > > Subject: [CANSLIM] HITK > > > > > > > > > > > > > > > If you still own HITK there may be a light > > > > > in the tunnel. Change Wave (Tobin Smith) sent an > > > > > alert to his 300,000 (?) subscribers to buy HITK on > > > > > 7/25. Looking at the chart shows that the price > > > > > dropped down and stabilized at its 200-day moving > > > > > average at $23.14 before bouncing higher. It closed > > > > > at $24.88 on 7/25. Other than a possible shortfall > > > > > because of seasonal cough medicine sales I couldn't > > > > > find any other bad news. Anyone know of any other > > > > > issues? > > > > > > > > > > Thanks, > > > > > Gene > > > > > > > > > > I was forwarded the following; > > > > > > > > > > A price under $25 is a great entry point > > > > > for this dual > > > > > generic/diabetes play -- forget the noise > > > > > from the momentum > > > > > buyers-turned-sellers. They were cleaned > > > > > out with the huge volume > > > > > sales, so now it's time to build or add to > > > > > your positions to get to > > > > > a $25 cost basis. I still think we can > > > > > hold on for a $50 value at > > > > > the end of 2004 on $2 per share earnings > > > > > in 2004. > > > > > > > > > > Let's lower the buy under for HITK to $25. > > > > > > > > > > > > > > > > > > > > > > > > > > > __________________________________ > > > > Do you Yahoo!? > > > > Yahoo! SiteBuilder - Free, easy-to-use web site design software > > > > http://sitebuilder.yahoo.com > > > > > > > > - > > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > > -In the email body, write "subscribe canslim" or > > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 6 Aug 2003 10:14:22 -0700 From: "DMC197807" Subject: Re: [CANSLIM] HITK--Volume Studies This is a multi-part message in MIME format. - ------=_NextPart_000_0221_01C35C03.81839F50 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Gene, I'm not sure what you mean. Are you asking for a canslim long = recommendation, or asking for charts to use in following HITK? For HITK this daily chart from stockcharts should do the job: http://stockcharts.com/def/servlet/SC.web?c=3DHITK,uu[h,a]dbclyiay[pb10!b= 50!b200!i!f][vc60][iut!Lp14,3,3!Lb14!Lg!Lc9!Lf15]&pref=3DG For a shorter time period here is the 60 minute chart, but I don't think = it's very educational: http://stockcharts.com/def/servlet/SC.web?c=3DHITK,uu[h,a]ebclyiay[pb10!b= 50!b200!i!f][vc60][iut!Lp14,3,3!Lb14!Lg!Lc9!Lf15]&pref=3DG Much better is the weekly where you can see the support line at 19.97, = then a pause at 15, more support at 10 and then real congestion at 6 to = 9: http://stockcharts.com/def/servlet/SC.web?c=3DHITK,uu[h,a]ebclyiay[pb10!b= 50!b200!i!f][vc60][iut!Lp14,3,3!Lb14!Lg!Lc9!Lf15]&pref=3DG As for recommendations, as I have noted a few times, the M is telling us = to back off any real bets at this point. On CANSLI (minus the M) = criteria, OMI and AVID look like good stocks, but I'm not interested in = owning them in this market. There are probably 10 others I could name, = but that's not of much interest to me at this time. DMC ----- Original Message -----=20 From: Gene Ricci=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, August 06, 2003 9:35 AM Subject: Re: [CANSLIM] HITK--Volume Studies DMC, how about you point us to a chart that passes your criteria? Gene ----- Original Message -----=20 From: DMC197807=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, August 06, 2003 10:10 AM Subject: Re: [CANSLIM] HITK--Volume Studies One problem with threads and email lists is the topics tend to lack follow-through. The newest hot topic or stock du jour takes over = the airspace and previous topics disappear. Perhaps they should, but I = think the HITK education is out there for people who want to take the time = to understand why this stock which gapped and crapped was an unlikely = delight at $25, $26 or "under $25". One problem with getting your list of = MILSCANs and IBD 100 stocks is you tend to love them long after their = usefulness has evaporated (or long before they become useful again). First off, if you can part with some pi$tole$, may I suggest buying = Donald Cassidy's Trading with Volume. As you can see from the reviews, = some people think it's great, some think it doesn't tell you anything new. I = think for $25 and a few hours of dedicated reading it's pretty good insurance = against buying an exhaustion gap or jumping in to buy HITK as it's = crumbling. If it saves you one bad trade (guaranteed to save you more, but . . .) = then it's worth about 10 times the purchase price. It's generally not = available in libraries: = http://www.amazon.com/exec/obidos/tg/detail/-/0071376046/qid=3D1060182177= /sr=3D1 = - -1/ref=3Dsr_1_1/102-9779625-0378563?v=3Dglance&s=3Dbooks#product-details Those who trade on price alone are like people who fly airplanes on visibility alone. Or maybe trying to trade on price action alone is = like trying to speak a foreign language with nothing but tons of = vocabulary--no grammar, no semantic rules, no idioms, just a lot of words. If = you've ever encountered a newly arrived foreign student in the hard sciences you = get the drift. Volume is a key and crucial instrument. It's really too bad = we can trade volume as well as price (that is, buy options on volume = levels, rather than just price levels), but there's probably no efficient way to do = it. Otoh, using volume to understand price is key. Another useful thing is just to scroll down this note, starting at = the bottom and noting the dates. If you have a dual screen setup, you = might put the daily or 60 minute chart of HITK up against it, and try to see = what was going on at what point in the conversation. HITK is continuing its short, squat candlestick march on low volume, = down below $23 as I type. How long will the bleeding last? Who knows, = but at this angle and with this momentum (volume) it can be excruciating. = How will it end? Impossible to say, but a likely scenario will be the = wholesale dumping of shares if $20 doesn't hold. I don't see it holding. I = think it could collapse tomorrow or the next day, then we might have an = "echo" of the plunge from $40 to $25, with a little boost up to 28 (and all the = bullish chatter) before it finds its proper bottom. Check now the widening = of the Bollinger bands on the bottom side, giving this thing plenty of = space to run. So, let's take another look around 8/15 to see if it has fallen = through 20 to 15 and bounced. Looking out longer term, on the weekly chart, = you can see some support at $10 and what looks like rock bottom = fisher/vulture carcass at around $7-8. So, short term support at $20, $15; medium = term support at $10 and an "event" or crushingly bad market could take us = to $7. DMC ----- Original Message ----- From: "DMC197807" To: Sent: Monday, August 04, 2003 8:56 AM Subject: Re: [CANSLIM] HITK > Perhaps members of the group will find it educational to follow = HITK for a > little while longer. Nobody has a crystal ball on these things, = but > experience has taught me the hard way that not paying attention to = price > action and volume can be costly. > > As I opined earlier, this chart pattern is a very familiar, broken = stock > picture. Volume keeps fading away as buyers back away from this = name and > holders are just beginning to get the picture that the bleeding = has only > begun, and hasn't begun to stop yet. We've now crossed up above = the 200 dma > very weakly and fallen back down through it. I'd expect this = stock to stay > below the 200 dma for a significant amount of time from now on, = long after > all the averages complete their southerly curves. Since there are = few > buyers it won't take many sellers to show up, dump their shares = and get out. > That accounts for the small but steady march south. The Bollinger = Bands > have now widened significantly; when a stock is rallying it can = climb along > the upper band for a long time; the same happens on the bottom = band when > it's falling. The bottom band is pointed directly toward $15 = right now; I > see no reason why, given enough time this summer, it won't achieve = and then > overshoot that number. If HITK had options, I'd be buying puts = here. If I > was an HITK owner, I'd get out at any price right now. > > DMC > > ----- Original Message ----- > From: "DMC197807" > To: > Sent: Monday, July 28, 2003 11:05 AM > Subject: Re: [CANSLIM] HITK > > > > Fanus, > > > > Thanks for your note. Each of us has his own system. Back in = May I > traded > > HITK off the center of the Bollinger bands for a bounce which I = got and I > > was monitoring it off shorter time frame charts. The mistake I = made was > not > > holding on for the ride further up, but I was leaving for 10 = days on the > > East Coast and couldn't afford to keep the position open, so I = left with > > 9.3% gain in 7 days. If I can annualize that gain it's better = than 300% > per > > year, so I like it. I kept a tight stop on the position so = maybe your > > calculation of the risk wasn't mine. > > > > Everyone looks at risk and reward differently. You may see a = stock which > > can rise up to 35 or 40 fairly easily (the reward) but I see a = broken > chart > > and the likelihood of that happening as very, very slim. More = likely, > given > > the pattern, is for the stock to pause and hiccup and continue = to break > > down. Or it could stabilize and idle here at the $22-28 range = for a > while. > > However, there have been a lot of buyers on the way up to $49 = and not all > of > > them have sold. It often takes several days for the totality of = a drop > from > > 49 to 25 to sink in. A lot of people hope it will recover, a = lot try to > > trade out, but in the end the weight of the chart often produces = the > > inevitable. > > > > Another way to look at your calculation is to try to figure out = the > > probabilities within a given time frame (let's take 2 weeks, or = 10 trading > > days) of your two speculation scenarios to play out: 1) drops = to 23? > this > > is highly likely, imho, given the ATR where it is, call it 2-1; = or 2) > rises > > to 35 or 40? this is a 40-1 shot, to me, in this time period, = or worse. > So > > you calculate the value of the two and, with the stock where it = is now, > > 26.50, you have a 50% chance of losing $3.50, or -1.75, and a = 2.5% chance > of > > it rising to 35, or $0.87, so I wouldn't take your approach, not = even with > > your money. > > > > What is the better approach? Patience, let the plunge work = through its > > natural progression. > > > > This is what makes a market, though. Regards, > > > > DMC > > > > > > > > ----- Original Message ----- > > From: "Fanus" > > To: > > Sent: Monday, July 28, 2003 10:19 AM > > Subject: Re: [CANSLIM] HITK > > > > > > > I haven't look at the CANSLIM characteristics, but > > > risk/reward look pretty good to me. > > > > > > If one trade it as a bounce off the 200DMA, then your > > > stop can be just below it. Say around 23.00. You > > > could have entered around 25.30 this morning, risking > > > 2.30. If I was trading it, I would expect it to > > > possibly stall at resistance around 35 to 40 which > > > would be my profit target. A profit target of about > > > 9.7 to 14.7. Risking 2.3 to get 9.7 is a risk/reward > > > ratio of 1/4.2. Risking 1 dollar to make 4.2. Good > > > enough for me. > > > > > > You mentioned that you bought HITK at 5/30/03 at > > > 34.20. From my side, I do not see significant support > > > close by, or a logical place to put a stop loss other > > > than the 50DMA which were at 30.74 on that date. A > > > risk of 3.46. You sold on 6/5 at 37.47; a profit of > > > 3.27. So you risk 3.46 to make 3.27, a risk/reward > > > ratio of 1/0.95. Risking 1 dollar to make 0.95. > > > > > > In my books, an entry now is much less risky than your > > > entry on 5/30. > > > > > > Regards > > > - Fanus > > > > > > > > > --- DMC197807 wrote: > > > > MessageGene, > > > > > > > > I understood that. However, I think it's > > > > hard/dangerous to trade consistently (and safely) > > > > from signals generated by newsletters and stock > > > > pickers, or black boxes or discussion threads. I > > > > assume you are out of HITK at this point? > > > > > > > > My comments were and are limited to trying to grasp > > > > the total risk-reward on the name as indicated by > > > > the chart. Still too risky for me, maybe not for > > > > others. When the charts come into alignment, then > > > > money is made more easily, although not without > > > > risk. > > > > > > > > I took $3+ out of HITK at the end of May by > > > > following my discipline (bot 5/30 at 34.20, sold 6/5 > > > > at 37.47), and it was this experience which caught > > > > my attention with your post. > > > > > > > > HITK may close this week higher or lower, and at > > > > that point it may still not be a good speculation, > > > > for my money. > > > > > > > > Good luck, > > > > > > > > DMC > > > > > > > > > > > > ----- Original Message ----- > > > > From: Gene Ricci > > > > To: canslim@lists.xmission.com > > > > Sent: Monday, July 28, 2003 9:32 AM > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > DMC, if you'll go back to my original email you'll > > > > see that I was making an observation ... and passing > > > > it on to potential holders of HITK .... based on a > > > > buy signal from ChangeWave. > > > > > > > > 'If you still own HITK there may be a light in the > > > > tunnel.' > > > > > > > > In the meantime I made 75 cents/share trading it > > > > this morning (going long)... after the opening > > > > pullback... > > > > > > > > Gene > > > > > > > > > > > > > > > > > > > > > > > > > > > > ----- Original Message ----- > > > > From: DMC197807 > > > > To: canslim@lists.xmission.com > > > > Sent: Monday, July 28, 2003 11:01 AM > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > Gene, > > > > > > > > Two thoughts come to mind. First is a ski area > > > > I frequent. Just below the highest lift are some > > > > cliffs which are out of bounds by regulation and > > > > also by dint of pure reason: they look like > > > > suicide. However, on any thick powder day there are > > > > a number of youth with their snowboards and skis > > > > doing the "extreme thing." For some reason only 2 > > > > people have gotten killed there in my memory, and a > > > > few bad accidents, but mostly these yahoos make it > > > > through. It doesn't mean it isn't an absurd risk to > > > > take, but there you are. > > > > > > > > Is HITK still a falling knife, or is it safe to > > > > buy? > > > > > > > > Second is: what is volume during normal trading > > > > and what is volume during a selloff? Clearly HITK > > > > is in a selloff, so I like to look at something like > > > > 10 day volume (or volume since the plunge) rather > > > > than 60-day volume. Here the 60-day volume is > > > > 583,000, but the most recent 8 days have coughed up > > > > about 10 million shares, or 1.25 million per day. I > > > > was looking at HITK early today and was surprised > > > > that the first hour, amateur hour, didn't produce > > > > more volume. It's now 2.5 hours into the trading > > > > day and it's still at 330,000 shares. > > > > > > > > I think today is simply a pause on the way down. > > > > I have no money in this name now and only look at > > > > it to determine when, on a trading basis, the reward > > > > might outweigh the risk. That event might not > > > > happen for several weeks and might take place at a > > > > higher price than today's (in fact, could easily do > > > > so). > > > > > > > > Mostly I think of this endeavor as the opposite > > > > of even recreational skiing. We want to find the > > > > easiest, most risk free way of having fun (making > > > > $$), not the adrenaline rushed version. If this > > > > were a ski slope, my scans would be scouting for not > > > > black diamond slopes or blue slopes. Unlike skiing, > > > > here I'm on the hunt for easy green slopes and even > > > > yellow bunny hop slopes. > > > > > > > > Good luck, > > > > > > > > DMC > > > > ----- Original Message ----- > > > > From: Gene Ricci > > > > To: canslim@lists.xmission.com > > > > Sent: Monday, July 28, 2003 7:35 AM > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > The power of the newsletter assumes control... > > > > up 6% and 1/3 of the daily volume already. > > > > > > > > Gene > > > > ----- Original Message ----- > > > > From: DMC197807 > > > > To: canslim@lists.xmission.com > > > > Sent: Saturday, July 26, 2003 10:35 PM > > > > Subject: Re: [CANSLIM] HITK > > > > > > > > > > > > Technically your risk/reward on this name > > > > would be skewed toward risk at this point. The > > > > chart shows no stopping yet, volume is still high > > > > and the daily patterns are bearish. The price > > > > dropped right through the 200 day EMA (25.85), is > > > > below any support on the daily (there looks like > > > > some support at $20 on the weekly). If $20 holds, > > > > who's interested in buying for a quick off the bat > > > > 20% loss? > > > > > > > > I don't actually see why $20 should hold for > > > > more than a pause, anyway. To me there's no sense > > > > in looking for "bad news," it's all in the chart > > > > right now. > > > > > > > > JMHO, > > > > > > > > DMC > > > > > > > > > > > > > > > > ----- Original Message ----- > > > > From: Gene Ricci > > > > To: canslim@lists.xmission.com > > > > Sent: Saturday, July 26, 2003 6:30 PM > > > > Subject: [CANSLIM] HITK > > > > > > > > > > > > If you still own HITK there may be a light > > > > in the tunnel. Change Wave (Tobin Smith) sent an > > > > alert to his 300,000 (?) subscribers to buy HITK on > > > > 7/25. Looking at the chart shows that the price > > > > dropped down and stabilized at its 200-day moving > > > > average at $23.14 before bouncing higher. It closed > > > > at $24.88 on 7/25. Other than a possible shortfall > > > > because of seasonal cough medicine sales I couldn't > > > > find any other bad news. Anyone know of any other > > > > issues? > > > > > > > > Thanks, > > > > Gene > > > > > > > > I was forwarded the following; > > > > > > > > A price under $25 is a great entry point > > > > for this dual > > > > generic/diabetes play -- forget the noise > > > > from the momentum > > > > buyers-turned-sellers. They were cleaned > > > > out with the huge volume > > > > sales, so now it's time to build or add to > > > > your positions to get to > > > > a $25 cost basis. I still think we can > > > > hold on for a $50 value at > > > > the end of 2004 on $2 per share earnings > > > > in 2004. > > > > > > > > Let's lower the buy under for HITK to $25. > > > > > > > > > > > > > > > > > > > > > __________________________________ > > > Do you Yahoo!? > > > Yahoo! SiteBuilder - Free, easy-to-use web site design = software > > > http://sitebuilder.yahoo.com > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - -To subscribe/unsubscribe, email "majordomo@xmission.com" -In the email body, write "subscribe canslim" or -"unsubscribe canslim". Do not use quotes in your email. - ------=_NextPart_000_0221_01C35C03.81839F50 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Gene,
 
I'm not sure what you mean.  Are = you asking=20 for a canslim long recommendation, or asking for charts to use in = following=20 HITK?
 
For HITK this daily chart from = stockcharts should=20 do the job:
 
h= ttp://stockcharts.com/def/servlet/SC.web?c=3DHITK,uu[h,a]dbclyiay[pb10!b5= 0!b200!i!f][vc60][iut!Lp14,3,3!Lb14!Lg!Lc9!Lf15]&pref=3DG<= /DIV>
 
For a shorter time period here is the = 60 minute=20 chart, but I don't think it's very educational:
 
h= ttp://stockcharts.com/def/servlet/SC.web?c=3DHITK,uu[h,a]ebclyiay[pb10!b5= 0!b200!i!f][vc60][iut!Lp14,3,3!Lb14!Lg!Lc9!Lf15]&pref=3DG<= /DIV>
 
Much better is the weekly where you can = see the=20 support line at 19.97, then a pause at 15, more support at 10 and then = real=20 congestion at 6 to 9:
 
h= ttp://stockcharts.com/def/servlet/SC.web?c=3DHITK,uu[h,a]ebclyiay[pb10!b5= 0!b200!i!f][vc60][iut!Lp14,3,3!Lb14!Lg!Lc9!Lf15]&pref=3DG<= /DIV>
 
As for recommendations, as I have noted = a few=20 times, the M is telling us to back off any real bets at this = point.  On=20 CANSLI (minus the M) criteria, OMI and AVID look like good stocks, but = I'm not=20 interested in owning them in this market.  There are probably 10 = others I=20 could name, but that's not of much interest to me at this = time.
 
DMC
----- Original Message -----
From:=20 Gene = Ricci
Sent: Wednesday, August 06, = 2003 9:35=20 AM
Subject: Re: [CANSLIM] = HITK--Volume=20 Studies

DMC, how about you point us to = a chart=20 that passes your criteria?
 
Gene
 
 
----- Original Message -----
From:=20 DMC197807
Sent: Wednesday, August 06, = 2003 10:10=20 AM
Subject: Re: [CANSLIM] = HITK--Volume=20 Studies

One problem with threads and email lists is the = topics tend=20 to lack
follow-through.  The newest hot topic or stock du = jour takes=20 over the
airspace and previous topics disappear.  Perhaps = they=20 should, but I think
the HITK education is out there for people = who want=20 to take the time to
understand why this stock which gapped and = crapped=20 was an unlikely delight
at $25, $26 or "under $25".  One = problem=20 with getting your list of MILSCANs
and IBD 100 stocks is you tend = to love=20 them long after their usefulness has
evaporated (or long before = they=20 become useful again).

First off, if you can part with some = pi$tole$,=20 may I suggest buying Donald
Cassidy's Trading with Volume.  = As you=20 can see from the reviews, some people
think it's great, some = think it=20 doesn't tell you anything new.   I think for
$25 and a = few=20 hours of dedicated reading it's pretty good insurance = against
buying an=20 exhaustion gap or jumping in to buy HITK as it's crumbling.  If = it
saves you one bad trade (guaranteed to save you more, but = . =20 .  .) then it's
worth about 10 times the purchase = price.  It's=20 generally not available in
libraries:

http://www.amazon.com/exec/obidos/tg/detail/-/0071376046= /qid=3D1060182177/sr=3D1
-1/ref=3Dsr_1_1/102-9779625-0378563?v=3Dg= lance&s=3Dbooks#product-details

Those=20 who trade on price alone are like people who fly airplanes = on
visibility=20 alone.  Or maybe trying to trade on price action alone is=20 like
trying to speak a foreign language with nothing but tons of=20 vocabulary--no
grammar, no semantic rules, no idioms, just a lot = of=20 words.  If you've ever
encountered a newly arrived foreign = student=20 in the hard sciences you get the
drift.  Volume is a key and = crucial=20 instrument.  It's really too bad we can
trade volume as well = as=20 price (that is, buy options on volume levels, rather
than just = price=20 levels), but there's probably no efficient way to do it.
Otoh, = using=20 volume to understand price is key.

Another useful thing is = just to=20 scroll down this note, starting at the
bottom and noting the = dates. =20 If you have a dual screen setup, you might put
the daily or 60 = minute=20 chart of HITK up against it, and try to see what was
going on at = what=20 point in the conversation.

HITK is continuing its short, = squat=20 candlestick march on low volume, down
below $23 as I type.  = How long=20 will the bleeding last?  Who knows, but at
this angle and = with this=20 momentum (volume) it can be excruciating.  How will
it = end? =20 Impossible to say, but a likely scenario will be the = wholesale
dumping of=20 shares if $20 doesn't hold.  I don't see it holding.  I = think=20 it
could collapse tomorrow or the next day, then we might have an = "echo"=20 of the
plunge from $40 to $25, with a little boost up to 28 (and = all the=20 bullish
chatter) before it finds its proper bottom.  Check = now the=20 widening of the
Bollinger bands on the bottom side, giving this = thing=20 plenty of space to
run.

So, let's take another look around = 8/15 to=20 see if it has fallen through 20
to 15 and bounced.  Looking = out=20 longer term, on the weekly chart, you can
see some support at $10 = and=20 what looks like rock bottom fisher/vulture
carcass at around = $7-8. =20 So, short term support at $20, $15; medium term
support at $10 = and an=20 "event" or crushingly bad market could take us to=20 $7.

DMC

----- Original Message -----
From: = "DMC197807"=20 <dmc197807@comcast.net>
To= :=20 <canslim@lists.xmission.com= >
Sent:=20 Monday, August 04, 2003 8:56 AM
Subject: Re: [CANSLIM]=20 HITK


> Perhaps members of the group will find it = educational=20 to follow HITK for a
> little while longer.  Nobody has a = crystal=20 ball on these things, but
> experience has taught me the hard = way that=20 not paying attention to price
> action and volume can be=20 costly.
>
> As I opined earlier, this chart pattern is a = very=20 familiar, broken stock
> picture.  Volume keeps fading = away as=20 buyers back away from this name and
> holders are just = beginning to=20 get the picture that the bleeding has only
> begun, and hasn't = begun=20 to stop yet.  We've now crossed up above the 200
dma
> = very=20 weakly and fallen back down through it.  I'd expect this stock=20 to
stay
> below the 200 dma for a significant amount of = time from=20 now on, long after
> all the averages complete their southerly = curves.  Since there are few
> buyers it won't take many = sellers=20 to show up, dump their shares and get
out.
> That accounts = for the=20 small but steady march south.  The Bollinger Bands
> have = now=20 widened significantly; when a stock is rallying it can=20 climb
along
> the upper band for a long time; the same = happens on=20 the bottom band when
> it's falling.  The bottom band is = pointed=20 directly toward $15 right now; I
> see no reason why, given = enough=20 time this summer, it won't achieve and
then
> overshoot = that=20 number.  If HITK had options, I'd be buying puts here. =20 If
I
> was an HITK owner, I'd get out at any price right=20 now.
>
> DMC
>
> ----- Original Message=20 -----
> From: "DMC197807" <dmc197807@comcast.net>
&g= t;=20 To: <canslim@lists.xmission.com= >
>=20 Sent: Monday, July 28, 2003 11:05 AM
> Subject: Re: [CANSLIM]=20 HITK
>
>
> > Fanus,
> >
> > = Thanks=20 for your note.  Each of us has his own system.  Back in = May=20 I
> traded
> > HITK off the center of the Bollinger = bands for=20 a bounce which I got and
I
> > was monitoring it off = shorter=20 time frame charts.  The mistake I made was
> not
> = >=20 holding on for the ride further up, but I was leaving for 10 days on = the
> > East Coast and couldn't afford to keep the position = open,=20 so I left with
> > 9.3% gain in 7 days.  If I can = annualize=20 that gain it's better than 300%
> per
> > year, so I = like=20 it.  I kept a tight stop on the position so maybe your
> = >=20 calculation of the risk wasn't mine.
> >
> > = Everyone=20 looks at risk and reward differently.  You may see a=20 stock
which
> > can rise up to 35 or 40 fairly easily = (the=20 reward) but I see a broken
> chart
> > and the = likelihood of=20 that happening as very, very slim.  More likely,
> = given
>=20 > the pattern, is for the stock to pause and hiccup and continue = to=20 break
> > down.  Or it could stabilize and idle here = at the=20 $22-28 range for a
> while.
> > However, there have = been a=20 lot of buyers on the way up to $49 and not
all
> of
> = >=20 them have sold.  It often takes several days for the totality = of a=20 drop
> from
> > 49 to 25 to sink in.  A lot of = people=20 hope it will recover, a lot try to
> > trade out, but in = the end=20 the weight of the chart often produces the
> > = inevitable.
>=20 >
> > Another way to look at your calculation is to try = to=20 figure out the
> > probabilities within a given time frame = (let's=20 take 2 weeks, or 10
trading
> > days) of your two = speculation=20 scenarios to play out:  1) drops to 23?
> this
> = > is=20 highly likely, imho, given the ATR where it is, call it 2-1; or = 2)
>=20 rises
> > to 35 or 40?  this is a 40-1 shot, to me, in = this=20 time period, or worse.
> So
> > you calculate the = value of=20 the two and, with the stock where it is now,
> > 26.50, you = have a=20 50% chance of losing $3.50, or -1.75, and a 2.5%
chance
>=20 of
> > it rising to 35, or $0.87, so I wouldn't take your = approach,=20 not even
with
> > your money.
> >
> > = What is=20 the better approach?  Patience, let the plunge work through = its
>=20 > natural progression.
> >
> > This is what = makes a=20 market, though.  Regards,
> >
> > DMC
> = >
> >
> >
> > ----- Original Message=20 -----
> > From: "Fanus" <fanus13@yahoo.com>
> = > To:=20 <canslim@lists.xmission.com= >
>=20 > Sent: Monday, July 28, 2003 10:19 AM
> > Subject: Re:=20 [CANSLIM] HITK
> >
> >
> > > I haven't = look at=20 the CANSLIM characteristics, but
> > > risk/reward look = pretty=20 good to me.
> > >
> > > If one trade it as a = bounce=20 off the 200DMA, then your
> > > stop can be just below = it. =20 Say around 23.00.  You
> > > could have entered = around=20 25.30 this morning, risking
> > > 2.30.  If I was = trading=20 it, I would expect it to
> > > possibly stall at = resistance=20 around 35 to 40 which
> > > would be my profit = target.  A=20 profit target of about
> > > 9.7 to 14.7.  Risking = 2.3 to=20 get 9.7 is a risk/reward
> > > ratio of = 1/4.2.  =20 Risking 1 dollar to make 4.2. Good
> > > enough for = me.
>=20 > >
> > > You mentioned that you bought HITK at = 5/30/03=20 at
> > > 34.20. From my side,  I do not see = significant=20 support
> > > close by, or a logical place to put a stop = loss=20 other
> > > than the 50DMA which were at 30.74 on that=20 date.  A
> > > risk of 3.46.  You sold on 6/5 = at=20 37.47; a profit of
> > > 3.27. So you risk 3.46 to make = 3.27, a=20 risk/reward
> > > ratio of 1/0.95.  Risking 1 = dollar to=20 make 0.95.
> > >
> > > In my books, an entry = now is=20 much less risky than your
> > > entry on 5/30.
> = >=20 >
> > > Regards
> > > - Fanus
> = >=20 >
> > >
> > > --- DMC197807 <dmc197807@comcast.net>=20 wrote:
> > > > MessageGene,
> > > = >
>=20 > > > I understood that.  However, I think = it's
> >=20 > > hard/dangerous to trade consistently (and safely)
> = >=20 > > from signals generated by newsletters and stock
> = > >=20 > pickers, or black boxes or discussion threads.  I
> = >=20 > > assume you are out of HITK at this point?
> > = >=20 >
> > > > My comments were and are limited to = trying to=20 grasp
> > > > the total risk-reward on the name as = indicated=20 by
> > > > the chart.  Still too risky for me, = maybe not=20 for
> > > > others.  When the charts come into=20 alignment, then
> > > > money is made more easily, = although=20 not without
> > > > risk.
> > > = >
> >=20 > > I took $3+ out of HITK at the end of May by
> > = > >=20 following my discipline (bot 5/30 at 34.20, sold 6/5
> > = > >=20 at 37.47), and it was this experience which caught
> > > = > my=20 attention with your post.
> > > >
> > > = > HITK=20 may close this week higher or lower, and at
> > > > = that=20 point it may still not be a good speculation,
> > > > = for my=20 money.
> > > >
> > > > Good = luck,
> >=20 > >
> > > > DMC
> > > >
> = >=20 > >
> > > >   ----- Original Message=20 -----
> > > >   From: Gene Ricci
> = > >=20 >   To: canslim@lists.xmission.com=
>=20 > > >   Sent: Monday, July 28, 2003 9:32 = AM
> >=20 > >   Subject: Re: [CANSLIM] HITK
> > >=20 >
> > > >
> > > >   DMC, = if=20 you'll go back to my original email you'll
> > > > = see that I=20 was making an observation ... and passing
> > > > it = on to=20 potential holders of HITK .... based on a
> > > > buy = signal=20 from ChangeWave.
> > > >
> > > = >  =20 'If you still own HITK there may be a light in the
> > > = >=20 tunnel.'
> > > >
> > > >   = In the=20 meantime I made 75 cents/share trading it
> > > > = this=20 morning (going long)... after the opening
> > > >=20 pullback...
> > > >
> > > = >  =20 Gene
> > > >
> > > >
> > > = >
> > > >
> > > >
> > > = >
> > > >   ----- Original Message = - -----
>=20 > > >     From: DMC197807
> > = >=20 >     To: canslim@lists.xmission.com=
>=20 > > >     Sent: Monday, July 28, 2003 = 11:01=20 AM
> > > >     Subject: Re: = [CANSLIM]=20 HITK
> > > >
> > > >
> > > = >     Gene,
> > > >
> = > >=20 >     Two thoughts come to mind.  First = is a ski=20 area
> > > > I frequent.  Just below the highest = lift=20 are some
> > > > cliffs which are out of bounds by = regulation=20 and
> > > > also by dint of pure reason:  they = look=20 like
> > > > suicide.  However, on any thick = powder day=20 there are
> > > > a number of youth with their = snowboards and=20 skis
> > > > doing the "extreme thing."  For = some reason=20 only 2
> > > > people have gotten killed there in my = memory,=20 and a
> > > > few bad accidents, but mostly these = yahoos make=20 it
> > > > through.  It doesn't mean it isn't an = absurd=20 risk to
> > > > take, but there you are.
> > = >=20 >
> > > >     Is HITK still a = falling=20 knife, or is it safe to
> > > > buy?
> > = >=20 >
> > > >     Second is: what = is=20 volume during normal trading
> > > > and what is = volume=20 during a selloff?  Clearly HITK
> > > > is in a = selloff,=20 so I like to look at something like
> > > > 10 day = volume (or=20 volume since the plunge) rather
> > > > than 60-day=20 volume.   Here the 60-day volume is
> > > > = 583,000, but the most recent 8 days have coughed up
> > = > >=20 about 10 million shares, or 1.25 million per day.  I
> = > >=20 > was looking at HITK early today and was surprised
> > = >=20 > that the first hour, amateur hour, didn't produce
> > = >=20 > more volume.  It's now 2.5 hours into the trading
> = >=20 > > day and it's still at 330,000 shares.
> > >=20 >
> > > >     I think today is = simply=20 a pause on the way down.
> > > >  I have no = money in=20 this name now and only look at
> > > > it to = determine when,=20 on a trading basis, the reward
> > > > might outweigh = the=20 risk.  That event might not
> > > > happen for = several=20 weeks and might take place at a
> > > > higher price = than=20 today's (in fact, could easily do
> > > > = so).
> >=20 > >
> > > >     Mostly I = think of=20 this endeavor as the opposite
> > > > of even = recreational=20 skiing.  We want to find the
> > > > easiest, = most risk=20 free way of having fun (making
> > > > $$), not the=20 adrenaline rushed version.  If this
> > > > were = a ski=20 slope, my scans would be scouting for not
> > > > = black=20 diamond slopes or blue slopes.  Unlike skiing,
> > = > >=20 here I'm on the hunt for easy green slopes and even
> > = > >=20 yellow bunny hop slopes.
> > > >
> > >=20 >     Good luck,
> > > = >
> >=20 > >     DMC
> > >=20 >       ----- Original Message=20 -----
> > > >       = From: Gene=20 Ricci
> > > >       To: = canslim@lists.xmission.com=
>=20 > > >       Sent: Monday, = July 28,=20 2003 7:35 AM
> > > = >      =20 Subject: Re: [CANSLIM] HITK
> > > >
> > > = >
> > > >       The = power of=20 the newsletter assumes control...
> > > > up 6% and = 1/3 of=20 the daily volume already.
> > > >
> > >=20 >       Gene
> > >=20 >         ----- Original = Message=20 -----
> > > = >        =20 From: DMC197807
> > >=20 >         To: canslim@lists.xmission.com=
>=20 > > >         Sent: = Saturday, July 26, 2003 10:35 PM
> > >=20 >         Subject: Re: = [CANSLIM]=20 HITK
> > > >
> > > >
> > > = >         Technically = your=20 risk/reward on this name
> > > > would be skewed = toward risk=20 at this point.  The
> > > > chart shows no = stopping yet,=20 volume is still high
> > > > and the daily patterns = are=20 bearish.  The price
> > > > dropped right = through the=20 200 day EMA (25.85), is
> > > > below any support on = the=20 daily (there looks like
> > > > some support at $20 = on the=20 weekly).  If $20 holds,
> > > > who's interested = in=20 buying for a quick off the bat
> > > > 20% = loss?
> >=20 > >
> > >=20 >         I don't = actually see=20 why $20 should hold for
> > > > more than a pause,=20 anyway.  To me there's no sense
> > > > in = looking for=20 "bad news," it's all in the chart
> > > > right = now.
>=20 > > >
> > >=20 >         JMHO,
> = > >=20 >
> > > = >        =20 DMC
> > > >
> > > >
> > >=20 >
> > >=20 >           = - -----=20 Original Message -----
> > >=20 >           = From: Gene=20 Ricci
> > >=20 >           To: = canslim@lists.xmission.com=
>=20 > > = >          =20 Sent: Saturday, July 26, 2003 6:30 PM
> > >=20 >           = Subject:=20 [CANSLIM] HITK
> > > >
> > > >
> = >=20 > = >           If you=20 still own HITK there may be a light
> > > > in the = tunnel.=20 Change Wave (Tobin Smith) sent an
> > > > alert to = his=20 300,000 (?) subscribers to buy HITK on
> > > > 7/25. = Looking=20 at the chart shows that the price
> > > > dropped = down and=20 stabilized at its 200-day moving
> > > > average at = $23.14=20 before bouncing higher. It closed
> > > > at $24.88 = on 7/25.=20 Other than a possible shortfall
> > > > because of = seasonal=20 cough medicine sales I couldn't
> > > > find any = other bad=20 news. Anyone know of any other
> > > > = issues?
> >=20 > >
> > >=20 >          =20 Thanks,
> > >=20 >          =20 Gene
> > > >
> > >=20 >           I = was=20 forwarded the following;
> > > >
> > >=20 >           A = price=20 under $25 is a great entry point
> > > > for this=20 dual
> > >=20 >          =20 generic/diabetes play -- forget the noise
> > > > = from the=20 momentum
> > >=20 >          =20 buyers-turned-sellers. They were cleaned
> > > > out = with the=20 huge volume
> > >=20 >           = sales, so=20 now it's time to build or add to
> > > > your = positions to=20 get to
> > >=20 >           a = $25 cost=20 basis. I still think we can
> > > > hold on for a $50 = value=20 at
> > >=20 >           the = end of=20 2004 on $2 per share earnings
> > > > in = 2004.
> >=20 > >
> > >=20 >           = Let's lower=20 the buy under for HITK to $25.
> > > >
> > = >=20 >
> > > >
> > >
> > = >
> >=20 > __________________________________
> > > Do you=20 Yahoo!?
> > > Yahoo! SiteBuilder - Free, easy-to-use web = site=20 design software
> > > http://sitebuilder.yahoo.com>=20 > >
> > > -
> > > -To = subscribe/unsubscribe,=20 email "majordomo@xmission.com"
>= ;=20 > > -In the email body, write "subscribe canslim" or
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>=20 >
> >
> > -
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>= ;=20 > -In the email body, write "subscribe canslim" or
> >=20 -"unsubscribe canslim".  Do not use quotes in your=20 email.
>
>
> -
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