From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2908 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Thursday, September 5 2002 Volume 02 : Number 2908 In this issue: Re: [CANSLIM] Wedging example: CECO Re: [CANSLIM] Wedging example: CECO Re: [CANSLIM] Wedging example: CECO Re: [CANSLIM] Wedging example: CECO Re: [CANSLIM] Registered letter now O.T. Re: [CANSLIM] Wedging example: CECO Re: [CANSLIM] Wedging example: CECO Re: [CANSLIM] Wedging example: CECO [CANSLIM] PNRA base criterion Re: [CANSLIM] PNRA base criterion ---------------------------------------------------------------------- Date: Thu, 5 Sep 2002 09:37:51 -0500 From: "Katherine Malm" Subject: Re: [CANSLIM] Wedging example: CECO Hi Kelly, For the most part, the action on the right side of CECO's "V" cup was wedging, just as you noted. You had to pick the toughest chart in the *universe* though.... Prior to that sudden V-cup, the basing action was actually constructive. Since then, it's pretty much a nightmare of activity and very difficult to read. The first area you marked as a pivot is iffy for 2 reasons. First, the base, having been so deep, has to be at least 6 weeks in length to be valid. That means the earliest a valid pivot could form would be about 8/2. You can see the action there is a little suspect, forming a sloppy handle at best. In the handle itself, you actually want to see volume dry up, but the problem is that this stock took a big plunge at the start of the handle. One could certainly argue that the handle "moved sideways" but I'd be disinclined to do so because of the wedging action to get there. That, combined with a very low volume breakout attempt on 8/15 just seals the deal...this stock didn't want to go *anywhere.* I'll bet the strong action in the group has had more to do with it's ability to hang in there than anything else. I wouldn't, as a result look at the high 8/16 as a "pivot" but instead a pull back into the base. The only thing that can save CECO at this point is a nice tight sideways consolidation on quiet volume. If it can do that, then I'd say it's ready to move on. If it stays wide and loose as it's been, then hasta la vista baby. Katherine - ----- Original Message ----- From: "Kelly Short" To: Sent: Wednesday, September 04, 2002 8:34 PM Subject: [CANSLIM] Wedging example: CECO | Katherine, | | To continue your point on wedging- would this stock be an example of wedging | action? | | http://www.kellyrshort.com/canslim/CECOwedgeexample.gif | | Kelly | | - | -To subscribe/unsubscribe, email "majordomo@xmission.com" | -In the email body, write "subscribe canslim" or | -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 09:41:34 -0500 From: "Katherine Malm" Subject: Re: [CANSLIM] Wedging example: CECO Here's a good wedging example: http://WallStreet-LLC.com/canslim/PHA090402.jpg - ----- Original Message ----- From: "Katherine Malm" To: Sent: Thursday, September 05, 2002 9:37 AM Subject: Re: [CANSLIM] Wedging example: CECO | Hi Kelly, | | For the most part, the action on the right side of CECO's "V" cup was | wedging, just as you noted. You had to pick the toughest chart in the | *universe* though.... Prior to that sudden V-cup, the basing action was | actually constructive. Since then, it's pretty much a nightmare of activity | and very difficult to read. The first area you marked as a pivot is iffy for | 2 reasons. First, the base, having been so deep, has to be at least 6 weeks | in length to be valid. That means the earliest a valid pivot could form | would be about 8/2. You can see the action there is a little suspect, | forming a sloppy handle at best. In the handle itself, you actually want to | see volume dry up, but the problem is that this stock took a big plunge at | the start of the handle. One could certainly argue that the handle "moved | sideways" but I'd be disinclined to do so because of the wedging action to | get there. That, combined with a very low volume breakout attempt on 8/15 | just seals the deal...this stock didn't want to go *anywhere.* I'll bet the | strong action in the group has had more to do with it's ability to hang in | there than anything else. I wouldn't, as a result look at the high 8/16 as a | "pivot" but instead a pull back into the base. The only thing that can save | CECO at this point is a nice tight sideways consolidation on quiet volume. | If it can do that, then I'd say it's ready to move on. If it stays wide and | loose as it's been, then hasta la vista baby. | | Katherine | ----- Original Message ----- | From: "Kelly Short" | To: | Sent: Wednesday, September 04, 2002 8:34 PM | Subject: [CANSLIM] Wedging example: CECO | | | | Katherine, | | | | To continue your point on wedging- would this stock be an example of | wedging | | action? | | | | http://www.kellyrshort.com/canslim/CECOwedgeexample.gif | | | | Kelly | | | | - | | -To subscribe/unsubscribe, email "majordomo@xmission.com" | | -In the email body, write "subscribe canslim" or | | -"unsubscribe canslim". Do not use quotes in your email. | | | - | -To subscribe/unsubscribe, email "majordomo@xmission.com" | -In the email body, write "subscribe canslim" or | -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 10:51:04 -0400 From: "Dan Forant" Subject: Re: [CANSLIM] Wedging example: CECO Also divergence? DanF - ----- Original Message ----- From: "Katherine Malm" To: Sent: Thursday, September 05, 2002 10:41 AM Subject: Re: [CANSLIM] Wedging example: CECO > Here's a good wedging example: > http://WallStreet-LLC.com/canslim/PHA090402.jpg > > ----- Original Message ----- > From: "Katherine Malm" > To: > Sent: Thursday, September 05, 2002 9:37 AM > Subject: Re: [CANSLIM] Wedging example: CECO > > > | Hi Kelly, > | > | For the most part, the action on the right side of CECO's "V" cup was > | wedging, just as you noted. You had to pick the toughest chart in the > | *universe* though.... Prior to that sudden V-cup, the basing action was > | actually constructive. Since then, it's pretty much a nightmare of > activity > | and very difficult to read. The first area you marked as a pivot is iffy > for > | 2 reasons. First, the base, having been so deep, has to be at least 6 > weeks > | in length to be valid. That means the earliest a valid pivot could form > | would be about 8/2. You can see the action there is a little suspect, > | forming a sloppy handle at best. In the handle itself, you actually want > to > | see volume dry up, but the problem is that this stock took a big plunge at > | the start of the handle. One could certainly argue that the handle "moved > | sideways" but I'd be disinclined to do so because of the wedging action to > | get there. That, combined with a very low volume breakout attempt on 8/15 > | just seals the deal...this stock didn't want to go *anywhere.* I'll bet > the > | strong action in the group has had more to do with it's ability to hang in > | there than anything else. I wouldn't, as a result look at the high 8/16 as > a > | "pivot" but instead a pull back into the base. The only thing that can > save > | CECO at this point is a nice tight sideways consolidation on quiet volume. > | If it can do that, then I'd say it's ready to move on. If it stays wide > and > | loose as it's been, then hasta la vista baby. > | > | Katherine > | ----- Original Message ----- > | From: "Kelly Short" > | To: > | Sent: Wednesday, September 04, 2002 8:34 PM > | Subject: [CANSLIM] Wedging example: CECO > | > | > | | Katherine, > | | > | | To continue your point on wedging- would this stock be an example of > | wedging > | | action? > | | > | | http://www.kellyrshort.com/canslim/CECOwedgeexample.gif > | | > | | Kelly > | | > | | - > | | -To subscribe/unsubscribe, email "majordomo@xmission.com" > | | -In the email body, write "subscribe canslim" or > | | -"unsubscribe canslim". Do not use quotes in your email. > | > | > | - > | -To subscribe/unsubscribe, email "majordomo@xmission.com" > | -In the email body, write "subscribe canslim" or > | -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 10:18:14 -0500 From: "Katherine Malm" Subject: Re: [CANSLIM] Wedging example: CECO Hi Dan, Absolutely and good point...just a specific kind of divergence, i.e. Price v. Volume action. CANSLIM has several good divergence indicators such as price rising while the RS Line is nonconfirming...i.e. diverging...price moving up and the RS Line moving down. (negative divergence) A good positive divergence indicator is price falling back or moving sideways with the RS line moving up. Good indication that this stock is building steam and outperforming relative to the market, despite the price action. Katherine - ----- Original Message ----- From: "Dan Forant" To: Sent: Thursday, September 05, 2002 9:51 AM Subject: Re: [CANSLIM] Wedging example: CECO | Also divergence? | | DanF | ----- Original Message ----- | From: "Katherine Malm" | To: | Sent: Thursday, September 05, 2002 10:41 AM | Subject: Re: [CANSLIM] Wedging example: CECO | | | > Here's a good wedging example: | > http://WallStreet-LLC.com/canslim/PHA090402.jpg | > | > ----- Original Message ----- | > From: "Katherine Malm" | > To: | > Sent: Thursday, September 05, 2002 9:37 AM | > Subject: Re: [CANSLIM] Wedging example: CECO | > | > | > | Hi Kelly, | > | | > | For the most part, the action on the right side of CECO's "V" cup was | > | wedging, just as you noted. You had to pick the toughest chart in the | > | *universe* though.... Prior to that sudden V-cup, the basing action was | > | actually constructive. Since then, it's pretty much a nightmare of | > activity | > | and very difficult to read. The first area you marked as a pivot is iffy | > for | > | 2 reasons. First, the base, having been so deep, has to be at least 6 | > weeks | > | in length to be valid. That means the earliest a valid pivot could form | > | would be about 8/2. You can see the action there is a little suspect, | > | forming a sloppy handle at best. In the handle itself, you actually want | > to | > | see volume dry up, but the problem is that this stock took a big plunge | at | > | the start of the handle. One could certainly argue that the handle | "moved | > | sideways" but I'd be disinclined to do so because of the wedging action | to | > | get there. That, combined with a very low volume breakout attempt on | 8/15 | > | just seals the deal...this stock didn't want to go *anywhere.* I'll bet | > the | > | strong action in the group has had more to do with it's ability to hang | in | > | there than anything else. I wouldn't, as a result look at the high 8/16 | as | > a | > | "pivot" but instead a pull back into the base. The only thing that can | > save | > | CECO at this point is a nice tight sideways consolidation on quiet | volume. | > | If it can do that, then I'd say it's ready to move on. If it stays wide | > and | > | loose as it's been, then hasta la vista baby. | > | | > | Katherine | > | ----- Original Message ----- | > | From: "Kelly Short" | > | To: | > | Sent: Wednesday, September 04, 2002 8:34 PM | > | Subject: [CANSLIM] Wedging example: CECO | > | | > | | > | | Katherine, | > | | | > | | To continue your point on wedging- would this stock be an example of | > | wedging | > | | action? | > | | | > | | http://www.kellyrshort.com/canslim/CECOwedgeexample.gif | > | | | > | | Kelly | > | | | > | | - | > | | -To subscribe/unsubscribe, email "majordomo@xmission.com" | > | | -In the email body, write "subscribe canslim" or | > | | -"unsubscribe canslim". Do not use quotes in your email. | > | | > | | > | - | > | -To subscribe/unsubscribe, email "majordomo@xmission.com" | > | -In the email body, write "subscribe canslim" or | > | -"unsubscribe canslim". Do not use quotes in your email. | > | > | > - | > -To subscribe/unsubscribe, email "majordomo@xmission.com" | > -In the email body, write "subscribe canslim" or | > -"unsubscribe canslim". Do not use quotes in your email. | > | | | - | -To subscribe/unsubscribe, email "majordomo@xmission.com" | -In the email body, write "subscribe canslim" or | -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 08:30:03 -0700 From: "Bill Triffet" Subject: Re: [CANSLIM] Registered letter now O.T. I did too. Then I took the test...(gulp!). I have issues it seems. (g) - -Bill - ----- Original Message ----- From: "NANCY POLCARO" To: "canslim" Sent: Wednesday, September 04, 2002 11:57 PM Subject: Re: [CANSLIM] Registered letter (was: Why Professionals go astray) > I laughed so hard I fell out of my chair!!!!! > > ----- Original Message ----- > From: Mike Gibbons > Sent: Wednesday, September 04, 2002 2:29 AM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] Registered letter (was: Why Professionals go astray) > > Hermann, it seems that because of our respective time zones, I am the first > to read you emails. > > I think you are seeking help in the wrong discussion group. Please take the > test at this page http://www.4degreez.com/misc/personality_disorder_test.mv > and then seek help from those qualified to help you. > > I hope you get help soon. > > Mike Gibbons > Proactive Technologies, LLC > http://www.proactech.com > > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Hermann Ertl > Sent: Tuesday, September 03, 2002 10:40 PM > To: canslim@lists.xmission.com > Subject: [CANSLIM] Registered letter (was: Why Professionals go astray) > > > > From: "Tom Worley" > > Date: Tue, 3 Sep 2002 22:56:15 -0400 > > > > Wyndy, I will be interested in the response to your > > registered letter, assuming there is one. > > > > Doubting Tom, how do you know that there is no such a letter? > > You should show more objectivity. Why didn't you point to the > phoniness of the story of the Certified Letter from IBD? That was > incredulous. Where was your critical mind? > > > > snip > > Perhaps you could introduce yourself and tell us a little of > > > How about the aliases of members who suffer from MPD? > > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 11:53:31 -0500 From: michael_niemotka@baxter.com Subject: Re: [CANSLIM] Wedging example: CECO Is negative divergence a good sign to spot a good short candidate? Mike Niemotka , PE Sr. Principal Engineer Baxter Healthcare Corporation Route 120 & Wilson Road Round Lake, IL 60073 Tel (847) 270-4075 Fax (847) 270-4525 michael_niemotka@baxter.com "Katherine Malm" To: canslim@lists.xmission.com Sent by: cc: owner-canslim@lists.xm Subject: Re: [CANSLIM] Wedging example: CECO ission.com 09/05/2002 10:18 AM Please respond to canslim Hi Dan, Absolutely and good point...just a specific kind of divergence, i.e. Price v. Volume action. CANSLIM has several good divergence indicators such as price rising while the RS Line is nonconfirming...i.e. diverging...price moving up and the RS Line moving down. (negative divergence) A good positive divergence indicator is price falling back or moving sideways with the RS line moving up. Good indication that this stock is building steam and outperforming relative to the market, despite the price action. Katherine - ----- Original Message ----- From: "Dan Forant" To: Sent: Thursday, September 05, 2002 9:51 AM Subject: Re: [CANSLIM] Wedging example: CECO | Also divergence? | | DanF | ----- Original Message ----- | From: "Katherine Malm" | To: | Sent: Thursday, September 05, 2002 10:41 AM | Subject: Re: [CANSLIM] Wedging example: CECO | | | > Here's a good wedging example: | > http://WallStreet-LLC.com/canslim/PHA090402.jpg | > | > ----- Original Message ----- | > From: "Katherine Malm" | > To: | > Sent: Thursday, September 05, 2002 9:37 AM | > Subject: Re: [CANSLIM] Wedging example: CECO | > | > | > | Hi Kelly, | > | | > | For the most part, the action on the right side of CECO's "V" cup was | > | wedging, just as you noted. You had to pick the toughest chart in the | > | *universe* though.... Prior to that sudden V-cup, the basing action was | > | actually constructive. Since then, it's pretty much a nightmare of | > activity | > | and very difficult to read. The first area you marked as a pivot is iffy | > for | > | 2 reasons. First, the base, having been so deep, has to be at least 6 | > weeks | > | in length to be valid. That means the earliest a valid pivot could form | > | would be about 8/2. You can see the action there is a little suspect, | > | forming a sloppy handle at best. In the handle itself, you actually want | > to | > | see volume dry up, but the problem is that this stock took a big plunge | at | > | the start of the handle. One could certainly argue that the handle | "moved | > | sideways" but I'd be disinclined to do so because of the wedging action | to | > | get there. That, combined with a very low volume breakout attempt on | 8/15 | > | just seals the deal...this stock didn't want to go *anywhere.* I'll bet | > the | > | strong action in the group has had more to do with it's ability to hang | in | > | there than anything else. I wouldn't, as a result look at the high 8/16 | as | > a | > | "pivot" but instead a pull back into the base. The only thing that can | > save | > | CECO at this point is a nice tight sideways consolidation on quiet | volume. | > | If it can do that, then I'd say it's ready to move on. If it stays wide | > and | > | loose as it's been, then hasta la vista baby. | > | | > | Katherine | > | ----- Original Message ----- | > | From: "Kelly Short" | > | To: | > | Sent: Wednesday, September 04, 2002 8:34 PM | > | Subject: [CANSLIM] Wedging example: CECO | > | | > | | > | | Katherine, | > | | | > | | To continue your point on wedging- would this stock be an example of | > | wedging | > | | action? | > | | | > | | http://www.kellyrshort.com/canslim/CECOwedgeexample.gif | > | | | > | | Kelly | > | | | > | | - | > | | -To subscribe/unsubscribe, email "majordomo@xmission.com" | > | | -In the email body, write "subscribe canslim" or | > | | -"unsubscribe canslim". Do not use quotes in your email. | > | | > | | > | - | > | -To subscribe/unsubscribe, email "majordomo@xmission.com" | > | -In the email body, write "subscribe canslim" or | > | -"unsubscribe canslim". Do not use quotes in your email. | > | > | > - | > -To subscribe/unsubscribe, email "majordomo@xmission.com" | > -In the email body, write "subscribe canslim" or | > -"unsubscribe canslim". Do not use quotes in your email. | > | | | - | -To subscribe/unsubscribe, email "majordomo@xmission.com" | -In the email body, write "subscribe canslim" or | -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 12:16:51 -0500 From: "Katherine Malm" Subject: Re: [CANSLIM] Wedging example: CECO Hi Mike, From an intermediate term CANSLIM perspective, negative divergence can signal both "stay away from a potential breakout" and/or "time to sell," depending on the technical condition, the market, etc. From a short term trading perspective, and from a short-seller's point of view, negative divergence can signal a setup. Whether one would short off a failing top (and/or breakout) or as a pullback/continuation in a downward trend is a matter of preference. The little bit that WON addresses on shorting, he much prefers continuations in downward trends....scouting setups when RS<=30 and other fundamental indicators are lagging. This is one of the reasons why there's a big "gap" in the RS's if you look at a DGO printed product company report. You'll see a lot of stocks with RS>=70ish (long setups) and a lot with RS<=30 to 40ish (short setups) and not much in between. Katherine - ----- Original Message ----- From: To: Sent: Thursday, September 05, 2002 11:53 AM Subject: Re: [CANSLIM] Wedging example: CECO | | Is negative divergence a good sign to spot a good short candidate? | | | Mike Niemotka , PE | Sr. Principal Engineer | Baxter Healthcare Corporation | Route 120 & Wilson Road | Round Lake, IL 60073 | Tel (847) 270-4075 | Fax (847) 270-4525 | michael_niemotka@baxter.com | | | | "Katherine Malm" | To: canslim@lists.xmission.com | Sent by: cc: | owner-canslim@lists.xm Subject: Re: [CANSLIM] Wedging example: CECO | ission.com | | | 09/05/2002 10:18 AM | Please respond to | canslim | | | | | | | Hi Dan, | | Absolutely and good point...just a specific kind of divergence, i.e. Price | v. Volume action. | | CANSLIM has several good divergence indicators such as price rising while | the RS Line is nonconfirming...i.e. diverging...price moving up and the RS | Line moving down. (negative divergence) A good positive divergence | indicator | is price falling back or moving sideways with the RS line moving up. Good | indication that this stock is building steam and outperforming relative to | the market, despite the price action. | | Katherine | | ----- Original Message ----- | From: "Dan Forant" | To: | Sent: Thursday, September 05, 2002 9:51 AM | Subject: Re: [CANSLIM] Wedging example: CECO | | | | Also divergence? | | | | DanF | | ----- Original Message ----- | | From: "Katherine Malm" | | To: | | Sent: Thursday, September 05, 2002 10:41 AM | | Subject: Re: [CANSLIM] Wedging example: CECO | | | | | | > Here's a good wedging example: | | > http://WallStreet-LLC.com/canslim/PHA090402.jpg | | > | | > ----- Original Message ----- | | > From: "Katherine Malm" | | > To: | | > Sent: Thursday, September 05, 2002 9:37 AM | | > Subject: Re: [CANSLIM] Wedging example: CECO | | > | | > | | > | Hi Kelly, | | > | | | > | For the most part, the action on the right side of CECO's "V" cup was | | > | wedging, just as you noted. You had to pick the toughest chart in the | | > | *universe* though.... Prior to that sudden V-cup, the basing action | was | | > | actually constructive. Since then, it's pretty much a nightmare of | | > activity | | > | and very difficult to read. The first area you marked as a pivot is | iffy | | > for | | > | 2 reasons. First, the base, having been so deep, has to be at least 6 | | > weeks | | > | in length to be valid. That means the earliest a valid pivot could | form | | > | would be about 8/2. You can see the action there is a little suspect, | | > | forming a sloppy handle at best. In the handle itself, you actually | want | | > to | | > | see volume dry up, but the problem is that this stock took a big | plunge | | at | | > | the start of the handle. One could certainly argue that the handle | | "moved | | > | sideways" but I'd be disinclined to do so because of the wedging | action | | to | | > | get there. That, combined with a very low volume breakout attempt on | | 8/15 | | > | just seals the deal...this stock didn't want to go *anywhere.* I'll | bet | | > the | | > | strong action in the group has had more to do with it's ability to | hang | | in | | > | there than anything else. I wouldn't, as a result look at the high | 8/16 | | as | | > a | | > | "pivot" but instead a pull back into the base. The only thing that | can | | > save | | > | CECO at this point is a nice tight sideways consolidation on quiet | | volume. | | > | If it can do that, then I'd say it's ready to move on. If it stays | wide | | > and | | > | loose as it's been, then hasta la vista baby. | | > | | | > | Katherine | | > | ----- Original Message ----- | | > | From: "Kelly Short" | | > | To: | | > | Sent: Wednesday, September 04, 2002 8:34 PM | | > | Subject: [CANSLIM] Wedging example: CECO | | > | | | > | | | > | | Katherine, | | > | | | | > | | To continue your point on wedging- would this stock be an example | of | | > | wedging | | > | | action? | | > | | | | > | | http://www.kellyrshort.com/canslim/CECOwedgeexample.gif | | > | | | | > | | Kelly | | > | | | | > | | - | | > | | -To subscribe/unsubscribe, email "majordomo@xmission.com" | | > | | -In the email body, write "subscribe canslim" or | | > | | -"unsubscribe canslim". Do not use quotes in your email. | | > | | | > | | | > | - | | > | -To subscribe/unsubscribe, email "majordomo@xmission.com" | | > | -In the email body, write "subscribe canslim" or | | > | -"unsubscribe canslim". Do not use quotes in your email. | | > | | > | | > - | | > -To subscribe/unsubscribe, email "majordomo@xmission.com" | | > -In the email body, write "subscribe canslim" or | | > -"unsubscribe canslim". Do not use quotes in your email. | | > | | | | | | - | | -To subscribe/unsubscribe, email "majordomo@xmission.com" | | -In the email body, write "subscribe canslim" or | | -"unsubscribe canslim". Do not use quotes in your email. | | | - | -To subscribe/unsubscribe, email "majordomo@xmission.com" | -In the email body, write "subscribe canslim" or | -"unsubscribe canslim". Do not use quotes in your email. | | | | | | | | - | -To subscribe/unsubscribe, email "majordomo@xmission.com" | -In the email body, write "subscribe canslim" or | -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 13:40:36 -0400 From: "Dan Forant" Subject: Re: [CANSLIM] Wedging example: CECO Mike, Yes. If for example RSI or volume is running negative while the chart is positive, there may be a reversal. However there are other signs to look for such as chart patterns that foresee a reversal or continuation. CANSLIM is one of the safest ways to go, providing M is in agreement. Make sure your informed with other trading techniques before venturing. Or paper trade for awhile. CANSLIM requires fundamental expertise. Short term trading (long & short) technical analysis. Stockchart.com has an excellent chart school. Good luck. DanF - ----- Original Message ----- From: To: Sent: Thursday, September 05, 2002 12:53 PM Subject: Re: [CANSLIM] Wedging example: CECO > > Is negative divergence a good sign to spot a good short candidate? > > > Mike Niemotka , PE > Sr. Principal Engineer > Baxter Healthcare Corporation > Route 120 & Wilson Road > Round Lake, IL 60073 > Tel (847) 270-4075 > Fax (847) 270-4525 > michael_niemotka@baxter.com > > > > "Katherine Malm" > To: canslim@lists.xmission.com > Sent by: cc: > owner-canslim@lists.xm Subject: Re: [CANSLIM] Wedging example: CECO > ission.com > > > 09/05/2002 10:18 AM > Please respond to > canslim > > > > > > > Hi Dan, > > Absolutely and good point...just a specific kind of divergence, i.e. Price > v. Volume action. > > CANSLIM has several good divergence indicators such as price rising while > the RS Line is nonconfirming...i.e. diverging...price moving up and the RS > Line moving down. (negative divergence) A good positive divergence > indicator > is price falling back or moving sideways with the RS line moving up. Good > indication that this stock is building steam and outperforming relative to > the market, despite the price action. > > Katherine > > ----- Original Message ----- > From: "Dan Forant" > To: > Sent: Thursday, September 05, 2002 9:51 AM > Subject: Re: [CANSLIM] Wedging example: CECO > > > | Also divergence? > | > | DanF > | ----- Original Message ----- > | From: "Katherine Malm" > | To: > | Sent: Thursday, September 05, 2002 10:41 AM > | Subject: Re: [CANSLIM] Wedging example: CECO > | > | > | > Here's a good wedging example: > | > http://WallStreet-LLC.com/canslim/PHA090402.jpg > | > > | > ----- Original Message ----- > | > From: "Katherine Malm" > | > To: > | > Sent: Thursday, September 05, 2002 9:37 AM > | > Subject: Re: [CANSLIM] Wedging example: CECO > | > > | > > | > | Hi Kelly, > | > | > | > | For the most part, the action on the right side of CECO's "V" cup was > | > | wedging, just as you noted. You had to pick the toughest chart in the > | > | *universe* though.... Prior to that sudden V-cup, the basing action > was > | > | actually constructive. Since then, it's pretty much a nightmare of > | > activity > | > | and very difficult to read. The first area you marked as a pivot is > iffy > | > for > | > | 2 reasons. First, the base, having been so deep, has to be at least 6 > | > weeks > | > | in length to be valid. That means the earliest a valid pivot could > form > | > | would be about 8/2. You can see the action there is a little suspect, > | > | forming a sloppy handle at best. In the handle itself, you actually > want > | > to > | > | see volume dry up, but the problem is that this stock took a big > plunge > | at > | > | the start of the handle. One could certainly argue that the handle > | "moved > | > | sideways" but I'd be disinclined to do so because of the wedging > action > | to > | > | get there. That, combined with a very low volume breakout attempt on > | 8/15 > | > | just seals the deal...this stock didn't want to go *anywhere.* I'll > bet > | > the > | > | strong action in the group has had more to do with it's ability to > hang > | in > | > | there than anything else. I wouldn't, as a result look at the high > 8/16 > | as > | > a > | > | "pivot" but instead a pull back into the base. The only thing that > can > | > save > | > | CECO at this point is a nice tight sideways consolidation on quiet > | volume. > | > | If it can do that, then I'd say it's ready to move on. If it stays > wide > | > and > | > | loose as it's been, then hasta la vista baby. > | > | > | > | Katherine > | > | ----- Original Message ----- > | > | From: "Kelly Short" > | > | To: > | > | Sent: Wednesday, September 04, 2002 8:34 PM > | > | Subject: [CANSLIM] Wedging example: CECO > | > | > | > | > | > | | Katherine, > | > | | > | > | | To continue your point on wedging- would this stock be an example > of > | > | wedging > | > | | action? > | > | | > | > | | http://www.kellyrshort.com/canslim/CECOwedgeexample.gif > | > | | > | > | | Kelly > | > | | > | > | | - > | > | | -To subscribe/unsubscribe, email "majordomo@xmission.com" > | > | | -In the email body, write "subscribe canslim" or > | > | | -"unsubscribe canslim". Do not use quotes in your email. > | > | > | > | > | > | - > | > | -To subscribe/unsubscribe, email "majordomo@xmission.com" > | > | -In the email body, write "subscribe canslim" or > | > | -"unsubscribe canslim". Do not use quotes in your email. > | > > | > > | > - > | > -To subscribe/unsubscribe, email "majordomo@xmission.com" > | > -In the email body, write "subscribe canslim" or > | > -"unsubscribe canslim". Do not use quotes in your email. > | > > | > | > | - > | -To subscribe/unsubscribe, email "majordomo@xmission.com" > | -In the email body, write "subscribe canslim" or > | -"unsubscribe canslim". Do not use quotes in your email. > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 14:06:22 -0500 From: "david frank" Subject: [CANSLIM] PNRA base criterion This is a multi-part message in MIME format. - ------=_NextPart_000_00E9_01C254E5.6A5DA080 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable I found something very interesting in the ASK BILL section of today's = IBD. It talks about PNRA and its fourth stage base. The interesting part = of the answer is that the previous CwH base, although 9 weeks long, did = not really count as a base, because it was shorter in duration and = shallower; didn't dip closer to to its 200-day moving average, than the = other 3 bases. Also, spent lesser time under its 50-day moving average = before climbing again. Thus, they don't count this as a base. Read this, = and look at both the daily and weekly charts of PNRA. Am I missing = something here? David - ------=_NextPart_000_00E9_01C254E5.6A5DA080 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
I found something very interesting in = the ASK BILL=20 section of today's IBD. It talks about PNRA and its fourth stage base. = The=20 interesting part of the answer is that the previous CwH base, although 9 = weeks=20 long, did not really count as a base, because it was shorter in=20 duration and shallower; didn't dip closer to to its 200-day moving = average,=20 than the other 3 bases. Also, spent lesser time under its 50-day moving = average=20 before climbing again. Thus, they don't count this as a base. Read this, = and=20 look at both the daily and weekly charts of PNRA. Am I missing something = here?=20 David
- ------=_NextPart_000_00E9_01C254E5.6A5DA080-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Thu, 5 Sep 2002 14:22:35 -0500 From: "Katherine Malm" Subject: Re: [CANSLIM] PNRA base criterion This is a multi-part message in MIME format. - ------=_NextPart_000_0179_01C254E7.ADF35860 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Good grief, David. I read that and went "news to me!".....not sure I've = ever heard WON describe something quite this way, so will have to read = it a few times to absorb the point of view. I look at that "short-term = correction" area very differently. That is, I see it as an invalid base = from which I would have avoided chasing any sort of breakout. See my = read on things at: http://WallStreet-LLC.com/canslim/PNRA090502.jpg Maybe "short term correction" is just a fancy term for "invalid base." = Oh well, live and learn. Katherine ----- Original Message -----=20 From: david frank=20 To: canslim@lists.xmission.com=20 Sent: Thursday, September 05, 2002 2:06 PM Subject: [CANSLIM] PNRA base criterion I found something very interesting in the ASK BILL section of today's = IBD. It talks about PNRA and its fourth stage base. The interesting part = of the answer is that the previous CwH base, although 9 weeks long, did = not really count as a base, because it was shorter in duration and = shallower; didn't dip closer to to its 200-day moving average, than the = other 3 bases. Also, spent lesser time under its 50-day moving average = before climbing again. Thus, they don't count this as a base. Read this, = and look at both the daily and weekly charts of PNRA. Am I missing = something here? David - ------=_NextPart_000_0179_01C254E7.ADF35860 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Good grief, David. I read that and went "news to me!".....not sure = I've=20 ever heard WON describe something quite this way, so will have to read = it a few=20 times to absorb the point of view. I look at that "short-term = correction" area=20 very differently. That is, I see it as an invalid base from which I = would have=20 avoided chasing any sort of breakout.  See my read on things = at:
 
http://WallStre= et-LLC.com/canslim/PNRA090502.jpg
 
Maybe "short term correction" is just a fancy term for "invalid = base." Oh=20 well, live and learn.
 
Katherine
----- Original Message -----
From:=20 david frank
Sent: Thursday, September 05, = 2002 2:06=20 PM
Subject: [CANSLIM] PNRA base=20 criterion

I found something very interesting in = the ASK=20 BILL section of today's IBD. It talks about PNRA and its fourth stage = base.=20 The interesting part of the answer is that the previous CwH base, = although 9=20 weeks long, did not really count as a base, because it was shorter in=20 duration and shallower; didn't dip closer to to its 200-day = moving=20 average, than the other 3 bases. Also, spent lesser time under its = 50-day=20 moving average before climbing again. Thus, they don't count this as a = base.=20 Read this, and look at both the daily and weekly charts of PNRA. Am I = missing=20 something here? David
- ------=_NextPart_000_0179_01C254E7.ADF35860-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #2908 ****************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.