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Strategies & Market Trends : Poorman's - CANSLIM Potential Stocks
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To: Carl Worth who wrote (101)12/4/2001 8:28:24 AM
From: Feraldo  Read Replies (1) of 128
 
Well I've been right a couple of times calling KKD short so far, but have not been able to take advantage of it myself as I can't fully margin them and I like to use margin in the case of finding two stocks that I like. Anyway I'm basing it on several things.

First of all, There's the 43.50 top in June. It failed to make it there and then sold off after that on decent volume back down to the 50.
Second, there looks like heavy downward pressure on the way up. The 2 million share day with the high of 39.76. That now might be overhead. Then there's the mid to late August overhead if that is still left. Though the close is just above it, there might be selling pressure.
Also, the way up did not feature a lot of good up volume. Plus there are two 2/1 splits. Not the best of signs.

So therefore I say that if they drop below 36 on volume I'd say they'd be a good short.
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