No New Long Positions And One Speculative CANSLIM Stock I Am Adding To My Existing Position

August 27, 2007

adding to existing speculative CANSLIM long position: VII

VII is bouncing off the pivot point area of the breakout from four days ago, on strong volume. This chart remains very pretty since the initial long was entered off the breakout from the ascending base on base pattern. However, BOP is going the wrong way, even though it is still green. This puts a little damper in the chart. Unless BOP starts building higher along with the price, there is a good chance this stock could test the 50 day moving average. The fundamentals are very good, with the EPS growing between 108% and 999% the past five quarters, sales growing between 5% and 38% the past five quarters, and cash flow of $.10 a share. Unfortunately, there are no earnings estimates or ROE, which does bother me a little bit. Fund ownership has grown from 6 to 12 funds the past four quarters, showing that the smart money does have an interest in this stock. But with the average daily volume for the past 50 days a low 83,000 and an unclear future with earnings estimates, new investors should keep this very small. Cut your loss with a close below the 50 day moving average, if the stock does not move higher immediately.

Last 5 posts in Free Archives Longs

Posted by Joshua Hayes | Filed Under Free Archives Longs 

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