I have been watching IRF as a potential CANSLIM buy. Here is a checklist:C - Current Quarter Earnings:Most recent quarter earnings $0.73 compared to previous years same quarter earnings of 0.38 is more than 25%. So, Pass.A - Annual Earnings:I could not get the earnings growth for the past 5 years. However, annual earnings for the past year (06/2000) is $1.27 compared to current year (till last quarter) is 2.07 which is good. So, Pass.N - New Products/New services and New high:Recently IRF introduced new products. Pass.Is this stock making new high? Yes, but pulled back. Pass.Management owns about 17% which is also good sign.S - Supply and Demand:Shares outstanding: 62.3 MillionFloat:52.0 Million. This is not low float stock. So grade is Neutral.L - Leader or LaggardDefinitely leader. Relative Strength is 90. Pass.Group strength is weak, IBD ratings is E, but group rank is improving. Not a very good sign because the stock is not from leading group. I - Institutional Support. Institituinal ownership is about 70%. A+ rated funds are holding this stock.M - Market direction. General market direction is healthy. Pass. Chart Pattern:The stock formed a cup base started mid Nov 2000 and tried to break without handle on 05/21/2001 and also volume on the break out day is not very high. Then it corrected about 10% on low volume. Current cosensus estimates for that next quarter earnings is just 5% higher than the previous year same quarter. So, this will fail in the 'Current quarter earnings' check. Can I still consider this as a potential CANSLIM stock.Pushparaj
Where do you find what funds own a stock and their ratings?Also, I looked at DailyGraphs and it says: Funds own 25%Management owns 9%Where did you get your info. I just want to make sure that what DailyGraphs is saying is accurate. Thanks.
I checked the Fund information from moneycentral.msn.com and yahoo.com (both are saying approximately 75%). Insider ownership is from yahoo.http://moneycentral.msn.com/investor/research/profile.asp?Symbol=IRFhttp://biz.yahoo.com/p/i/irf.htmlPushparaj
Where do you find what funds own a stock and their ratings?Try www.nasdaq.com - use "InfoQuotes" on your ticker symbol(s) - select Holdings/Insiders - select Institutional Holdings. This site allows you to sort on a number of different fields such as Name, date, size, etc.Andy
<<Chart Pattern: The stock formed a cup base started mid Nov 2000 and tried to break without handle on 05/21/2001 and also volume on the break out day is not very high. Then it corrected about 10% on low volume. >>I wouldn't call this a cup base. If it is a cup, it has a huge pile of something right in the middle of it.... I'd call this a double bottom or W, starting in early September. Notice the handle that formed from 4/30 to 5/16, right at resistance formed by the mid point of the W. The breakout occurred 5/16. Not much volume was there, but it was distinctly more than the previous two weeks' volume. The past four days reflect exactly what one would expect after a breakout--i.e., a pullback toward the breakout point. If the LRL at 60.75 holds (from 5/24), I could place a stop just below it. Otherwise, the next support for a stop is just below 57.25 (previous resistance) or below 54.1 (the low of 5/16). Either one of the last two dates is more that 8% away. Steve
Thank You Steve,You told me something I didn't know. Tom fitron