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canslim-digest         Monday, June 25 2001         Volume 02 : Number 1529



In this issue:

       Re: [CANSLIM] A market observation - Valuation
       Re: [CANSLIM] (CANSLIM) DGO List/Weekly Scan
       Re: [CANSLIM] Weekly Scan
       [CANSLIM] DME
       [CANSLIM] S
       [CANSLIM] drawing trendlines
       [CANSLIM] trendlines
       Re: [CANSLIM] S
       Re: [CANSLIM] trendlines
       Re: [CANSLIM] drawing trendlines
       Re: [CANSLIM] S
       Re: [CANSLIM] drawing trendlines
       RE: [CANSLIM] EPIQ
       [CANSLIM] Unusual volume spikes - prelude to a price move ....
       RE: [CANSLIM] EPIQ
       Re: [CANSLIM] Unusual volume spikes - prelude to a price move ....
       Re: [CANSLIM] Unusual volume spikes - prelude to a price move ....
       RE: [CANSLIM] Unusual volume spikes - prelude to a price move ... .
       Re: [CANSLIM] (CANSLIM) DGO List/Weekly Scan
       RE: [CANSLIM] IBD RS

----------------------------------------------------------------------

Date: Sun, 24 Jun 2001 21:47:16 -0700 (PDT)
From: Kent Norman <[e-mail]>
Subject: Re: [CANSLIM] A market observation - Valuation

Now that the analysts have fallen from grace, I wonder
who will carry the torch.

Regards
Kent Norman

- --- Patrick Wahl <[e-mail]> wrote:
>
<snip>
Looking back it  seems there  was a sort of mass
delusion, for lack of a better  way to say it,
regarding the value of many of these companies. I
think it shows a  sort of herd instinct, where certain
voices  (analysts) will come to be  the final word on
what these stocks are worth, and  everyone else  will
somewhat naively accept what a few people are  saying. <snip>

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------------------------------

Date: Mon, 25 Jun 2001 02:40:48 -0400
From: "Tom Worley" <[e-mail]>
Subject: Re: [CANSLIM] (CANSLIM) DGO List/Weekly Scan

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Hi Chris,

Yes, I scroll thru every chart on the overall list that DGO provides, =
and use my judgment to identify, with comments, those stocks that I =
believe are forming a constructive pattern worth watching. Since I don't =
do any due diligence, only some will ultimately be worth watching.

The funnel pattern I mention on SRDX is not a WON chart pattern. It is =
one described here by a member a long time back, maybe a year or more.  =
I treat it more as a brief interruption in a basing pattern. Because it =
is so vertical (hence a funnel rather than a cup), and returns to the =
original base, I consider it both a warning signal (that it could drop =
so fast for whatever reason) and also a positive (that it could quickly =
return to the base). Volume should be examined carefully. In this case, =
it took five days for the left side, and only four days on the right =
side. Volume on the right was greater than on the left. It is also good =
to know why it fell so precipitously in the first place. But the quick =
return on volume suggests strength, and institutional support.

Tom Worley
[e-mail]
AIM: TexWorley

  ----- Original Message -----=20
  From: Chris McShaffrey=20
  To: [e-mail]=20
  Sent: Sunday, June 24, 2001 10:18 PM
  Subject: [CANSLIM] (CANSLIM) DGO List/Weekly Scan


  Trying to understand Tom's DGO List and David's Weekly Scan.  If the =
info is in the archives, just ship me back there.  Am I right in =
assuming Tom, that you have looked at all these charts?  Im also not =
understanding David's screen - sorry.
  =20
  Does anyone look at the Screen of the Day on Investors.com?  Friday's =
Screen attached for your convenience. (RS & EPS 80+, A/D & Industry =
Group RS)
  =20
  And one more question - notice SRDX on Tom's list which I am currently =
looking into.  Won't go into details because I'm still researching.  =
Although I see the chart, is a "funnel" good or bad? (doesn't sound =
good....)
  =20
  As a side note, Value Line's Tech Ranking list is also down to only =
14.  When I first started following it, the list was up to 53 stocks.  =
Not alot of strong stocks out there.
  =20
  Thanks
  =20
  Chris Mc

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<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><FONT size=3D2>Hi Chris,</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>Yes, I scroll thru every chart on the overall list =
that DGO=20
provides, and use my judgment to identify, with comments, those stocks =
that I=20
believe are forming a constructive pattern worth watching. Since I don't =
do any=20
due diligence, only some will ultimately be worth watching.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>The funnel pattern I mention on SRDX is not a WON =
chart=20
pattern. It is one described here by a member a long time back, maybe a =
year or=20
more.  I treat it more as a brief interruption in a basing pattern. =
Because=20
it is so vertical (hence a funnel rather than a cup), and returns to the =

original base, I consider it both a warning signal (that it could drop =
so fast=20
for whatever reason) and also a positive (that it could quickly return =
to the=20
base). Volume should be examined carefully. In this case, it took five =
days for=20
the left side, and only four days on the right side. Volume on the right =
was=20
greater than on the left. It is also good to know why it fell so =
precipitously=20
in the first place. But the quick return on volume suggests strength, =
and=20
institutional support.</FONT></DIV>
<DIV> </DIV>
<DIV>Tom Worley<BR><A=20
href=3D"mailto:[e-mail]">[e-mail]</A><BR>AIM:=20
TexWorley<BR></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: =
0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A href=3D"mailto:[e-mail]" title=[e-mail]>Chris =

  McShaffrey</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
  href=3D"mailto:[e-mail]"=20
  title=[e-mail]>[e-mail]</A> =
</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, June 24, 2001 =
10:18=20
PM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] (CANSLIM) =
DGO=20
  List/Weekly Scan</DIV>
  <DIV><BR></DIV>
  <DIV><FONT face=3DArial size=3D2>Trying to understand Tom's DGO List =
and David's=20
  Weekly Scan.  If the info is in the archives, just ship me back=20
  there.  Am I right in assuming Tom, that you have looked at all =
these=20
  charts?  Im also not understanding David's screen - =
sorry.</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT> </DIV>
  <DIV><FONT face=3DArial size=3D2>Does anyone look at the Screen of the =
Day on=20
  Investors.com?  Friday's Screen attached for your convenience. =
(RS &=20
  EPS 80+, A/D & Industry Group RS)</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT> </DIV>
  <DIV><FONT face=3DArial size=3D2>And one more question - notice SRDX =
on Tom's list=20
  which I am currently looking into.  Won't go into details because =
I'm=20
  still researching.  Although I see the chart, is a "funnel" good =
or bad?=20
  (doesn't sound good....)</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT> </DIV>
  <DIV><FONT face=3DArial size=3D2>As a side note, Value Line's Tech =
Ranking list is=20
  also down to only 14.  When I first started following it, the =
list was up=20
  to 53 stocks.  Not alot of strong stocks out there.</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT> </DIV>
  <DIV><FONT face=3DArial size=3D2>Thanks</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT> </DIV>
  <DIV><FONT face=3DArial size=3D2>Chris =
Mc</FONT></DIV></BLOCKQUOTE></BODY></HTML>

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------------------------------

Date: Mon, 25 Jun 2001 02:41:55 -0400
From: "Tom Worley" <[e-mail]>
Subject: Re: [CANSLIM] Weekly Scan

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David,

It seems that the lower the price on EPIQ, the more hits it gets. Up to =
nine now. Any explanation?

Tom Worley
[e-mail]
AIM: TexWorley

  ----- Original Message -----=20
  From: David Squires=20
  To: [e-mail]=20
  Sent: Sunday, June 24, 2001 9:25 AM
  Subject: [CANSLIM] Weekly Scan


  =20

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<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><FONT size=3D2>David,</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>It seems that the lower the price on EPIQ, the more =
hits it=20
gets. Up to nine now. Any explanation?</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>Tom Worley<BR><A=20
href=3D"mailto:[e-mail]">[e-mail]</A><BR>AIM:=20
TexWorley<BR></FONT></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: =
0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A href=3D"mailto:[e-mail]" =
title=[e-mail]>David=20
  Squires</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
  href=3D"mailto:[e-mail]"=20
  title=[e-mail]>[e-mail]</A> =
</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Sunday, June 24, 2001 =
9:25 AM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Weekly =
Scan</DIV>
  <DIV><BR></DIV>
  <DIV><FONT size=3D2></FONT> </DIV></BLOCKQUOTE></BODY></HTML>

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------------------------------

Date: Mon, 25 Jun 2001 03:26:00 -0400
From: "Tom Worley" <[e-mail]>
Subject: [CANSLIM] DME

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Found the explanation for the spike on Thursday that I mentioned in the =
DGO List. On Friday, the company announced that it is in negotiations to =
be acquired. It is now expected to announce today that Washington Mutual =
will buy it for stock (70%) and cash (30%) equal to $40.84, about an 11% =
premium to Friday's close, and not much above where it spiked on =
Thursday.

Now, does that tell us anything about NFB, which had a similar spike? =
Same rumor? Unrelated?

Tom Worley
[e-mail]
AIM: TexWorley


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<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><FONT size=3D2>Found the explanation for the spike on Thursday that =
I=20
mentioned in the DGO List. On Friday, the company announced that it is =
in=20
negotiations to be acquired. It is now expected to announce today that=20
Washington Mutual will buy it for stock (70%) and cash (30%) equal to =
$40.84,=20
about an 11% premium to Friday's close, and not much above where it =
spiked on=20
Thursday.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>Now, does that tell us anything about NFB, which had =
a similar=20
spike? Same rumor? Unrelated?</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=3D2>Tom Worley<BR><A=20
href=3D"mailto:[e-mail]">[e-mail]</A><BR>AIM:=20
TexWorley<BR></FONT></DIV></BODY></HTML>

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------------------------------

Date: Mon, 25 Jun 2001 05:48:06 -0700 (PDT)
From: Dave Cameron <[e-mail]>
Subject: [CANSLIM] S

I was re-listening to the tapes by WON and David Ryan re:
buying/selling.   WON mentioned that his best successes have been
with shares outstanding less than 30 million.   Of course, it seems
WON's best successes were 20+ years ago.    I'm wondering if anyone
has a upside on shares outstanding they like to stay under.

Thanks,

=====
Dave Cameron
[e-mail]

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Date: Mon, 25 Jun 2001 05:57:08 -0700
From: "Tracie Oken" <[e-mail]>
Subject: [CANSLIM] drawing trendlines

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What tools are folks using to draw trendlines? I am in the process of =
learning some basic technical analysis.  Are there any on-line services =
that provide this?  I use DGO but the trendlines are pretty basic and =
don't measure the angle of the line which seems to be important. =20

Any help?  Or am I off base on trendline importance?

Thanks,  Tracie

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<HTML><HEAD>
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charset=3Diso-8859-1">
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<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#f0e8d8>
<DIV><FONT face=3DArial size=3D2>What tools are folks using to draw=20
trendlines? I am in the process of learning some basic technical=20
analysis.  Are there any on-line services that provide this?  =
I use=20
DGO but the trendlines are pretty basic and don't measure the angle of =
the line=20
which seems to be important.  </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Any help?  Or am I off base on =
trendline=20
importance?</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks,  =
Tracie</FONT></DIV></BODY></HTML>

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Date: Mon, 25 Jun 2001 06:00:00 -0700
From: "Jay Oken" <[e-mail]>
Subject: [CANSLIM] trendlines

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What tools are folks using to draw trendlines?  I am currently in the =
process of learning some basics of technical analysis and it appears =
that trendlines are fairly important.  Are there any on-line services =
that people use?  I use DGO and their charting is pretty basic, =
including the ability to draw trendlines.

Any help is appreciated. =20

Thanks,  Tracie

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charset=3Diso-8859-1">
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<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#f0e8d8>
<DIV><FONT face=3DArial size=3D2>What tools are folks using to draw=20
trendlines?  I am currently in the process of learning some basics =
of=20
technical analysis and it appears that trendlines are fairly =
important. =20
Are there any on-line services that people use?  I use DGO and =
their=20
charting is pretty basic, including the ability to draw =
trendlines.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Any help is appreciated.  =
</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks,  =
Tracie</FONT></DIV></BODY></HTML>

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Date: Mon, 25 Jun 2001 13:59:18 +0100
From: "Andy Westphal" <[e-mail]>
Subject: Re: [CANSLIM] S

There is a good arguement that goes the because of the amount of money now
in mutual funds
this is now longer an important factor. IE even a large cap stock with the
EPS growth figures required by CANSLIM, could double or trebble in price.

I currently use a 100 mil limit and I also would be interested in other
points of view on this.
Cheers

Andy


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Date: Mon, 25 Jun 2001 06:06:48 -0700 (PDT)
From: Dave Cameron <[e-mail]>
Subject: Re: [CANSLIM] trendlines

For years, I used Windows on Wall Street software.   Now I just draw
'em by hand.   By the time I figure a possible buy, I've limited the
universe down to a handful of stocks and can do it quickly.    I draw
from the lowest low to the lowest low preceding the highest high.

Dave

- --- Jay Oken <[e-mail]> wrote:
> What tools are folks using to draw trendlines?  I am currently in
> the process of learning some basics of technical analysis and it
> appears that trendlines are fairly important.  Are there any
> on-line services that people use?  I use DGO and their charting is
> pretty basic, including the ability to draw trendlines.
>
> Any help is appreciated.
>
> Thanks,  Tracie
>


=====
Dave Cameron
[e-mail]

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Date: Mon, 25 Jun 2001 08:33:11 -0600
From: "Patrick Wahl" <[e-mail]>
Subject: Re: [CANSLIM] drawing trendlines

I've never found them useful, I would be curious if anyone else
does.  To me the eye is seeing patterns where there isn't
necessarily a meaningful pattern.  Any chart is going to have two
points that can be connected by a line, but does that provide any
information?  Looking at examples in books, I have seen many
charts where drawing the trendline a few weeks earlier would lead
to a completely different trendline than the one on the most recent
price data.

On 25 Jun 01, at 5:57, Tracie Oken wrote:

> What tools are folks using to draw trendlines? I am in the process
> of learning some basic technical analysis.  Are there any on-line
> services that provide this?  I use DGO but the trendlines are
> pretty basic and don't measure the angle of the line which seems
> to be important.
>
> Any help?  Or am I off base on trendline importance?
>
> Thanks,  Tracie
>



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Date: Mon, 25 Jun 2001 07:57:38 -0700
From: "Ian" <[e-mail]>
Subject: Re: [CANSLIM] S

Dave:

I have had all of my best success when shares outstanding were in the
8,000,000 to 30,000,000 range. I have a keen interest in high growth stocks
with low P/S ratios, sustainable growth and rising margins. These tend to be
smaller companies, and as such, the shares outstanding are usually under
20,000,000 (with a disproportionately large number of them having right
around 14,000,000 shares out - eg, BEIQ, MTON, SCOT, ACLNF).

Ian


- ----- Original Message -----
From: Dave Cameron <[e-mail]>
To: <[e-mail]>
Sent: Monday, June 25, 2001 5:48 AM
Subject: [CANSLIM] S


>
> I was re-listening to the tapes by WON and David Ryan re:
> buying/selling.   WON mentioned that his best successes have been
> with shares outstanding less than 30 million.   Of course, it seems
> WON's best successes were 20+ years ago.    I'm wondering if anyone
> has a upside on shares outstanding they like to stay under.
>
> Thanks,
>
> =====
> Dave Cameron
> [e-mail]
>
> __________________________________________________
> Do You Yahoo!?
> Get personalized email addresses from Yahoo! Mail
> http://personal.mail.yahoo.com/
>
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Date: Mon, 25 Jun 2001 07:53:05 -0700
From: "Sisyphus" <[e-mail]>
Subject: Re: [CANSLIM] drawing trendlines

>What tools are folks using to draw trendlines? I am in the process of
>learning some basic technical analysis.  Are there any on-line services
>that provide this?  I use DGO but the trendlines are pretty basic and
>don't measure the angle of the line which seems to be important.
>

I use trendlines (although not religiously), and have found them very=
 useful, especially in the current market.

Generally, I draw them as described by Victor Sperandero in "Trader Vic,"=
 although sometimes, depending on the action of the stock, I will draw them=
 ignoring one-time spikes.  I never paid any attention to angles.   More=
 important than angle, to me, is the "validity" of a trendline, i.e., how=
 often prices have test the trendline.  A line that is touched by prices at=
 only two points is generally less reliable than a line touching 4 or 5=
 times.  I also use trend channels.

I use them to establish sell points (although never below WON's basic 7%=
 limit), and entry points beyond the pivot, i.e., when price bounces of an=
 established trendline.

Like any tool in stock analysis, though, trendlines are hardly foolproof.

I use Metastock for my charts.  It will provide the slope of a trendline,=
 but, like I said, this isn't really something I pay attention to, and=
 can't imagine why I would unless I were trying to trade a mechanical TA=
 system.  The slope of ascent (or descent) gives a numerical measure of the=
 "strength" of a trend...which I don't really need.  And, of course, a=
 trend can and often is quite strong up until the moment the stock tanks.

John




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------------------------------

Date: Mon, 25 Jun 2001 07:48:20 -0600
From: esetser <[e-mail]>
Subject: RE: [CANSLIM] EPIQ

I'm not sure I'm quite a bearish as you, but your summary at the end was
too accurate to pass up.  Add me to the list saying "I'm on the sidelines
(for now anyway), holding on to my only remaining breakout that has not yet
failed: IGT."

 At 09:43 AM 6/20/01 -0400, you wrote:
>   Looks like EPIQ's great run may be over. Even if "M"  was in good shape,
>EPIQ is far too extended.   & & shoulders chart formation, many breakouts
>are falling back into their  bases, and there are fresh warnings from
>companies indicating that the spending  slowdown is not over.   I'm on the
>sidelines, holding on to my only remaining  breakout that has not yet
>failed: IGT.   -- Dave

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------------------------------

Date: Mon, 25 Jun 2001 09:03:22 -0700
From: "Ian" <[e-mail]>
Subject: [CANSLIM] Unusual volume spikes - prelude to a price move ....

Hi all:

I have another example of an unusual spike in volume predicting a price jump
in a generally strong stock with good fundamentals and outlook.

I have an entry in my notebook from June 06 showing an extremely high jump
in the volume for SPTN - 400,000+. The price didn't budge - staying in a
tight range around $13. IMHO, these days act to take out resistance in a
stealth manner. SPTN is suddenly up today for no apparant reason, to around
$15.60.

Examine SPTN's chart - IMHO, in a flat market, these kind of 'out of the
blue' spikes are better risk/reward entries than pure breakout trigger
points.

Again, fear of 'M' kept me out even as I saw the price trend pennies higher
in the face of an ugly market during the last 2 weeks. I should have known
better.



Ian


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------------------------------

Date: Mon, 25 Jun 2001 11:05:08 -0600
From: "Patrick Wahl" <[e-mail]>
Subject: RE: [CANSLIM] EPIQ

I am mostly out, I have been avoiding breakouts for over a month,
when I do buy something, its based on some shorter term
pullbacks.  Market seems to have no direction now, can't seem to
consistently get moving down or up.

On 25 Jun 01, at 7:48, esetser wrote:

> I'm not sure I'm quite a bearish as you, but your summary at the end was
> too accurate to pass up.  Add me to the list saying "I'm on the sidelines
> (for now anyway), holding on to my only remaining breakout that has not yet
> failed: IGT."
>
>  At 09:43 AM 6/20/01 -0400, you wrote:
> >   Looks like EPIQ's great run may be over. Even if "M"  was in good shape,
> >EPIQ is far too extended.   & & shoulders chart formation, many breakouts
> >are falling back into their  bases, and there are fresh warnings from
> >companies indicating that the spending  slowdown is not over.   I'm on the
> >sidelines, holding on to my only remaining  breakout that has not yet
> >failed: IGT.   -- Dave
>
> -
> -To subscribe/unsubscribe, email "[e-mail]"
> -In the email body, write "subscribe canslim" or
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------------------------------

Date: 25 Jun 2001 12:34:52 CDT
From: Fanus <[e-mail]>
Subject: Re: [CANSLIM] Unusual volume spikes - prelude to a price move ....

I thought high volume days without any significant price movement is know=
n as
churning which is a negative sign?   Where do you make the distinction be=
tween
a good risk/reward entry and churning?

- - Fanus


"Ian" <[e-mail]> wrote:
> Hi all:
> =

> I have another example of an unusual spike in volume predicting a price=

jump
> in a generally strong stock with good fundamentals and outlook.
> =

> I have an entry in my notebook from June 06 showing an extremely high j=
ump
> in the volume for SPTN - 400,000+. The price didn't budge - staying in =
a
> tight range around $13. IMHO, these days act to take out resistance in =
a
> stealth manner. SPTN is suddenly up today for no apparant reason, to ar=
ound
> $15.60.
> =

> Examine SPTN's chart - IMHO, in a flat market, these kind of 'out of th=
e
> blue' spikes are better risk/reward entries than pure breakout trigger
> points.
> =

> Again, fear of 'M' kept me out even as I saw the price trend pennies hi=
gher
> in the face of an ugly market during the last 2 weeks. I should have kn=
own
> better.
> =

> =

> =

> Ian
> =

> =

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> -In the email body, write "subscribe canslim" or
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------------------------------

Date: Mon, 25 Jun 2001 11:18:52 -0700
From: "Ian" <[e-mail]>
Subject: Re: [CANSLIM] Unusual volume spikes - prelude to a price move ....

If a stock has been in a strong uptrend, and stronger volume fails to push
it up, I consider that distribution.

If the stock is basing in a narrow trading range, and fundamentals/recent
results suggest that the price 'should' go up, I look for strong volume
surges within a flat base as a possible prelude to a move up. This only
gives me confidence when the stocks are trading near their highs, but have
been basing for a while - but again, I am already 'assuming' that the stock
will go into an uptrend based on fundamentals/valuation, and look for volume
interest to confirm my initial assumption.

Using SPTN just for example, the initial volume spike in early May pushed
the price up to $13. The higher volume was sustained (after almost no volume
for 8 months), which, together with fundamentals, made me think that
resistance would eventually be broken. The June 06 spike followed 18 trading
days in a narrow price band. The volume spike that day,  IMO, helped to
break that resistance.


Ian


- ----- Original Message -----
From: Fanus <[e-mail]>
To: <[e-mail]>
Sent: Monday, June 25, 2001 10:34 AM
Subject: Re: [CANSLIM] Unusual volume spikes - prelude to a price move ....


I thought high volume days without any significant price movement is known
as
churning which is a negative sign?   Where do you make the distinction
between
a good risk/reward entry and churning?

- - Fanus


"Ian" <[e-mail]> wrote:
> Hi all:
>
> I have another example of an unusual spike in volume predicting a price
jump
> in a generally strong stock with good fundamentals and outlook.
>
> I have an entry in my notebook from June 06 showing an extremely high jump
> in the volume for SPTN - 400,000+. The price didn't budge - staying in a
> tight range around $13. IMHO, these days act to take out resistance in a
> stealth manner. SPTN is suddenly up today for no apparant reason, to
around
> $15.60.
>
> Examine SPTN's chart - IMHO, in a flat market, these kind of 'out of the
> blue' spikes are better risk/reward entries than pure breakout trigger
> points.
>
> Again, fear of 'M' kept me out even as I saw the price trend pennies
higher
> in the face of an ugly market during the last 2 weeks. I should have known
> better.
>
>
>
> Ian
>
>
> -
> -To subscribe/unsubscribe, email "[e-mail]"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your email.


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------------------------------

Date: Mon, 25 Jun 2001 14:57:41 -0400
From: "Tangen, Eric" <[e-mail]>
Subject: RE: [CANSLIM] Unusual volume spikes - prelude to a price move ... .

A lurker posts....
High volume one day spikes (like > 400%)with no price movement are long term
bullish in a long flat base of a small cap stock prior to its first real
breakout. The ultimate breakout may not come until weeks or even months
later.

I've have a feeling that this represents an institution to institution sale
of a large block of shares at a price the two parties agree to without going
through normal channels of the market makers. Does anyone else have any
further insight?

Churning action takes place in a price plateau after a nice price advance.

Eric Tangen




- -----Original Message-----
From: Fanus [mailto:[e-mail]]
Sent: Monday, June 25, 2001 12:35 PM
To: [e-mail]
Subject: Re: [CANSLIM] Unusual volume spikes - prelude to a price move
....


I thought high volume days without any significant price movement is known
as
churning which is a negative sign?   Where do you make the distinction
between
a good risk/reward entry and churning?

- - Fanus


"Ian" <[e-mail]> wrote:
> Hi all:
>
> I have another example of an unusual spike in volume predicting a price
jump
> in a generally strong stock with good fundamentals and outlook.
>
> I have an entry in my notebook from June 06 showing an extremely high jump
> in the volume for SPTN - 400,000+. The price didn't budge - staying in a
> tight range around $13. IMHO, these days act to take out resistance in a
> stealth manner. SPTN is suddenly up today for no apparant reason, to
around
> $15.60.
>
> Examine SPTN's chart - IMHO, in a flat market, these kind of 'out of the
> blue' spikes are better risk/reward entries than pure breakout trigger
> points.
>
> Again, fear of 'M' kept me out even as I saw the price trend pennies
higher
> in the face of an ugly market during the last 2 weeks. I should have known
> better.
>
>
>
> Ian
>
>
> -
> -To subscribe/unsubscribe, email "[e-mail]"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim".  Do not use quotes in your email.


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------------------------------

Date: Mon, 25 Jun 2001 17:35:27 EDT
From: [e-mail]
Subject: Re: [CANSLIM] (CANSLIM) DGO List/Weekly Scan

Tom:

     Are you selecting 40 (which looks like a support area) as the base
instead of 47 (which looks like the low of a C&H base to me)?

     Also, doesn't the plummet and the swift rise look to you like the 1st
downleg of a W-formation?

jans

In a message dated 6/25/2001 2:42:25 AM Eastern Daylight Time,
[e-mail] writes:

<< The funnel pattern I mention on SRDX is not a WON chart pattern. It is one
described here by a member a long time back, maybe a year or more.  I treat
it more as a brief interruption in a basing pattern. Because it is so
vertical (hence a funnel rather than a cup), and returns to the original
base, I consider it both a warning signal (that it could drop so fast for
whatever reason) and also a positive (that it could quickly return to the
base). Volume should be examined carefully. In this case, it took five days
for the left side, and only four days on the right side. Volume on the right
was greater than on the left. It is also good to know why it fell so
precipitously in the first place. But the quick return on volume suggests
strength, and institutional support. >>

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------------------------------

Date: Mon, 25 Jun 2001 16:49:22 -0500
From: "Dempsey, Chris" <[e-mail]>
Subject: RE: [CANSLIM] IBD RS

This message is in MIME format. Since your mail reader does not understand
this format, some or all of this message may not be legible.

- ------_=_NextPart_001_01C0FDC0.B1E5A7E0
Content-Type: text/plain;
    charset="iso-8859-1"

Tom, I'm curious as to how do you determine your expectations of earning for
a stock?

- -----Original Message-----
From: Tom Worley [mailto:[e-mail]]
Sent: Sunday, June 24, 2001 12:00 AM
To: [e-mail]
Subject: Re: [CANSLIM] IBD RS



RS is a current price indicator, with respect not just to the
individual stock, but to what the market is doing. I actively use
it as a screening device for putting stocks on (or taking them
off) my watch list. But once I own a stock, I pay more attention
to what the stock is doing (both price wise as well as actual
results) than to how popular it is. While it is important to me
that my future expectations of earnings is in line with general
market expectations, my opinion is more important to me. I also
monitor the up/down ratio a lot closer than RS once I own a
stock.

I will sell a stock whose actual results fall below my
expectations even when RS remains well above 80. And I will hold
a stock whose actual results meet or exceed my expectations even
when its RS falls under 80.

- ------_=_NextPart_001_01C0FDC0.B1E5A7E0
Content-Type: text/html;
    charset="iso-8859-1"

<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=iso-8859-1">
<META NAME="Generator" CONTENT="MS Exchange Server version 5.5.2653.12">
<TITLE>RE: [CANSLIM] IBD RS</TITLE>
</HEAD>
<BODY>

<P><FONT SIZE=2>Tom, I'm curious as to how do you determine your expectations of earning for a stock?</FONT>
</P>

<P><FONT SIZE=2>-----Original Message-----</FONT>
<BR><FONT SIZE=2>From: Tom Worley [<A HREF="mailto:[e-mail]">mailto:[e-mail]</A>]</FONT>
<BR><FONT SIZE=2>Sent: Sunday, June 24, 2001 12:00 AM</FONT>
<BR><FONT SIZE=2>To: [e-mail]</FONT>
<BR><FONT SIZE=2>Subject: Re: [CANSLIM] IBD RS</FONT>
</P>
<BR>
<BR>

<P><FONT SIZE=2>RS is a current price indicator, with respect not just to the</FONT>
<BR><FONT SIZE=2>individual stock, but to what the market is doing. I actively use</FONT>
<BR><FONT SIZE=2>it as a screening device for putting stocks on (or taking them</FONT>
<BR><FONT SIZE=2>off) my watch list. But once I own a stock, I pay more attention</FONT>
<BR><FONT SIZE=2>to what the stock is doing (both price wise as well as actual</FONT>
<BR><FONT SIZE=2>results) than to how popular it is. While it is important to me</FONT>
<BR><FONT SIZE=2>that my future expectations of earnings is in line with general</FONT>
<BR><FONT SIZE=2>market expectations, my opinion is more important to me. I also</FONT>
<BR><FONT SIZE=2>monitor the up/down ratio a lot closer than RS once I own a</FONT>
<BR><FONT SIZE=2>stock.</FONT>
</P>

<P><FONT SIZE=2>I will sell a stock whose actual results fall below my</FONT>
<BR><FONT SIZE=2>expectations even when RS remains well above 80. And I will hold</FONT>
<BR><FONT SIZE=2>a stock whose actual results meet or exceed my expectations even</FONT>
<BR><FONT SIZE=2>when its RS falls under 80. </FONT>
</P>

</BODY>
</HTML>
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