Subject: Re: [CANSLIM] charts and patterns questions
Mike:
In Bear Markets, I'd look at the Daily as being of more importance than the Weekly, and here is why: In Bears a stock will upburst only in the short-term when it BO's. The stock will not likely be able to fight the tide of the Bear-so I hold less import on the weekly in that case.
However, when the Bull hits, I'd look at the Weekly in order to catch stocks that will most probably remain strong after they BO. With a Bull, I'd play the trend of the stock [ie. its BO] and the Market [ie. the Bull].
jans
In a message dated Fri, 2 Aug 2002 1:41:48 PM Eastern Standard Time, michael_niemotka@baxter.com writes:
> When using charts to spot patterns, does it matter much if you use daily or
> weekly charts? I notice that in the stocks in the news section, they use
> weekly charts, and many times I will circle those that look like cwh
> patterns for later study. But sometime, when I look at a daily chart, the
> pattern seems to go away, or is much harder to spot.
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Date: Mon, 05 Aug 2002 11:05:20 -0400
From: Spencer48@aol.com
Subject: Re: [CANSLIM] WON Archives
Canslimmers:
This is from August 1 in investors.com. I thought-especially at this time-it would be most appropos:
"Can the market indexes still bottom even though there don't appear to be very many promising stocks with solid bases? "
- - Submitted from Reno, Nev.
Yes, indexes can bottom without having many promising stocks around. Just because we had a follow-through does not mean you run out and randomly buy stocks. All of the CAN SLIM characteristics must be present before you buy. The stock must have superior fundamentals, be a leader in its group, be in a leading group and break out of a sound base. If you canΓÇÖt find any stocks that meet these criteria, stay in cash until you find them. If we start a new bull market, there will be lots of proper stocks to choose from. But that may take a while, so be patient and picky."
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Date: Mon, 5 Aug 2002 11:20:44 EDT
From: Chazmoore@aol.com
Subject: [CANSLIM] OSTE
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While most agree it is best to stay in cash it also pays to hone your skills.
For example, OSTE started the left side of a cup on February 1, 2002 at
$9.79, went to a low of $5.83 and is now moving up on the right side. It was
at $9.10 as of 10:00 AM CST on heavy volume. If it stays below the left lip
and goes on to form a handle, we will have a c/h formation. If the price goes
over $9.79, the cup is broken.
Having pointed this out I certainly would not buy this stock even if it broke
out, but it is interesting to watch for the dance.
Charley
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<HTML><FONT FACE=arial,helvetica><FONT SIZE=2>While most agree it is best to stay in cash it also pays to hone your skills. For example, OSTE started the left side of a cup on February 1, 2002 at $9.79, went to a low of $5.83 and is now moving up on the right side. It was at $9.10 as of 10:00 AM CST on heavy volume. If it stays below the left lip and goes on to form a handle, we will have a c/h formation. If the price goes over $9.79, the cup is broken.
<BR>
<BR>Having pointed this out I certainly would not buy this stock even if it broke out, but it is interesting to watch for the dance.
