FirstWave Technologies (FSTW) Message Board

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Technology Stocks : FirstWave Technologies (FSTW)

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To: Mike M who wrote (7911)	2/9/2003 10:36:18 AM
From: TEDennis	Read Replies (1) of 9677

Hey, any of you chartists out there ... There's a "rule" that O'Neil's CANSLIM enthusiasts follow. I think it says something about bailing out of a momentum stock if your initial investment loses 8%. If there are many of those CANSLIM'r folks still around, then the downside risk here is still pretty high. The way I figure it, anybody who bought after 12/20/2002 when the stock was at $13.50 should have received a sell signal Thursday and/or Friday. And those CANSLIM'rs who didn't follow the rule earlier might decide to follow the rule now that it closed below $12.00. Selling at this stage could take the stock sharply lower and it could end up being below its fair market value, considering its potential. Anybody care to offer their two cents on that? I'd like to buy some trading shares when this scrapes bottom, but don't want to lose any profits I've already locked in. I almost bought at 14'ish, but didn't. Could have made a buck or so on that mini-bounce it took then. TED

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