From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #885 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, April 27 2000 Volume 02 : Number 885 In this issue: Re: [CANSLIM] Follow through's [CANSLIM] Yesterday's Follow through Re: [CANSLIM] Re: follow thru day? Re: [CANSLIM] Follow through's Re: [CANSLIM] Follow through's Re: [CANSLIM] Re: follow thru day? Re: [CANSLIM] Follow through's Re: [CANSLIM] Re: follow thru day? Re: [CANSLIM] DGO List - GIL Re: [CANSLIM] DGO List - GIL [CANSLIM] Differant way to view stock charts Re: [CANSLIM] DGO List - GIL Re: [CANSLIM] DGO List - GIL [CANSLIM] Nice pivot point breakout in the midst of turmoil [CANSLIM] Message test ---------------------------------------------------------------------- Date: Wed, 26 Apr 2000 06:32:27 -0700 From: Subject: Re: [CANSLIM] Follow through's Hi Luke, Re: your second instruction: The 1st rally day does not have to be up >1% on increased volume...only up from the previous day with volume not a factor. Regards, Ziggy Luke Lang wrote: > John, > > Here is my first attempt at a scan. It did confirm > NASDAQ as a follow-through day today. I hope you find > it useful. I welcome any suggestions. > > I am not very clear on the definition of a > distribution day. If anyone can help to define it, I > will try to write a scan. > > Best regards, > Luke Lang > > PS: I tried to scan all stocks in QP2, but it kept on > complaining about not being able to load more than 10 > days. I don't know what the problems are. When I > limit the scan to a smaller list of stock, it worked > well. > > Input="luke.lst"; > Output="lkfollow.lst"; > > Integer i, rallyday; > > DaysToLoad = 50; > > // proceed only if up 1% on higher volume > If (Close(0) >= 1.01 * Close(-1)) and > (Vol(0) > Vol(-1)) then > rallyday := 0; > > // find first rally day, which is also up 1% on > higher volume > For i = -3 to -10 step -1 > Do > If (Close(i) >= 1.01 * Close(i-1)) and > (Vol(i) > Vol(i-1)) and > (rallyday = 0) then > rallyday := i; > endif; > next i; > > // make sure the low on rally day is intact > For i = 0 to rallyday+1 step -1 > Do > If Low(i) < Low(rallyday) then > rallyday := 0; > endif; > next i; > > If not (rallyday = 0) then > println symbol, ",", rallyday; > endif; > endif; > > --- John Adair wrote: > > > > would you go ahead and place this formula into a > > search. > > another good search would be to pick out the stocks > > which are undergoing > > distribution. Perhaps you could help us with that > > to. > > -----Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com]On Behalf > > Of Luke Lang > > Sent: Wednesday, April 12, 2000 1:12 AM > > To: canslim@lists.xmission.com > > Subject: Re: [CANSLIM] Follow through's > > > > > > It seems to me that we should be able to quantify > > what > > constitutes a follow through day and write a scan > > for > > charting programs to identify it. I will take the > > first stab at it. Please correct me if I'm wrong. > > > > I will use QP2's notation. Close(0) and Vol(0) are > > today's closing price and volume. Close(-1) and > > Vol(-1) are yesterday's close and volume. > > > > A follow through day is identified if all of the > > following conditions are met: > > 1) Close(0) >= 1.01 * Close(-1) => closing up by 1% > > 2) Vol(0) > Vol(-1) => on higher volume > > For i = 3 to 10, > > 3) Close(-i) >= 1.01 * Close(-i-1) => first rally > > attempt 3 to 10 days ago > > 4) Vol(-i) > Vol(-i-1) => on higher volume > > > > Conditions 3) and 4) only have to be met for one day > > between 3 and 10 days ago. > > > > Are there any other conditions that one should add? > > Thanks. > > > > Best regards, > > Luke Lang > > > > __________________________________________________ > Do You Yahoo!? > Send online invitations with Yahoo! Invites. > http://invites.yahoo.com > > - - - ------------------------------ Date: Wed, 26 Apr 2000 09:48:45 -0400 (EDT) From: Alexander T Subject: [CANSLIM] Yesterday's Follow through Hi, Today's ibd mentions yesterday's follow through on Nasdaq and Dow. They go on to say that Nasdaq's follow through is weak due to a recent cave in ,but dow's looks stronger. Then they say that it's enough to see a FT on one of the indexes. Can someone explain to me why? Have we not seen recently how dow and nasdaq can diverge, so seeing a FT day on dow may not be enough to start buying techs on nasdaq ?! Thanks ______________________________________________ FREE Personalized Email at Mail.com Sign up at http://www.mail.com/?sr=signup - - ------------------------------ Date: Wed, 26 Apr 2000 13:40:05 +0100 From: "marclaniado" Subject: Re: [CANSLIM] Re: follow thru day? Hi Tom, Thank you for comments. Overall volume on the NASDAQ seemed light but the A/D was in favour with volume in advancing stocks much bigger than declining. Does anyone know what the Big Picture comment is in IBD today? - ----- Original Message ----- From: Tom Worley To: Sent: Wednesday, April 26, 2000 6:22 AM Subject: Re: [CANSLIM] Re: follow thru day? > Hi Harlan, > > A rally must start someplace, and I am persuaded that we > presently meet the requirements of WON's rules. In addition to > what has already been said about FT days, and where we count > from, and how many days, etc., I would add that today's action > did not undercut the most immediate intraday or closing lows; > started at brief basing levels from before; closed above > resistance levels from before; but also lacked the volume > confirmations needed. If I was not already 100% invested (told > you I was a risk taker), I would be inclined to wait a day or two > at least and see if a trend develops. After all, this market has > been marked by Naz up a near record one day, and down a near > record the next. And Naz up while NYSE down, and vice versa. So > one day clearly, despite the strong earnings reports, does not > set a pattern. > > Tom Worley > stkguru@netside.net > chat with me at ICQ # 5568838 > get ICQ software at http://www.icq.com/icqhomepage.html > > > ----- Original Message ----- > From: Harlan Pyan > To: > Sent: Wednesday, April 26, 2000 12:19 AM > Subject: [CANSLIM] Re: follow thru day? > > > Correct me if I'm wrong however all I've really seen thus far is > that yesterday was a > reversal day and today is day one of a 1234. As far as a follow > thru day is concerned > I'd have to say that we need to have a few things happen on the > OTC > 1. 4th thru 10th day see a 1% follow thru to the upside on good > volume or should I > say a 3 to 4% up day due to volitility. > 2. A crossover of 3880 that was put in on last Tues. > 3. And How bout the leadership (semi's) crossing over theyre > downtrend lines since > peaking, sure theyre bumping up against them now (some are some > arent,mixed bag)but > they need to stick above them for the next few days. > 4. and most importantly no lack of SOLID BASING STUCTURES out > there. I dont see > enough of them out there to sustain a move of any magnitude > currently. > Anybody else see any? > > For now? All I really see is a highly emotional market and a lot > of damage thats been > done that isnt going to work itself off in a week or two. We need > to establish all > new basing structures before we can get to throw darts times > again, at least intech > land. > > I'd look at the OTC this way > resistance 3880 > support 3227 or an undercut. > when you look at those two numbers and a chart of the OTC all you > really have to know > is that we'll be locked in a trading range for awhile most likely > around those two > numbers > As for bright spots? POG,SII these are nice trendline trades > that trade off of > theyre 50day MAverages. > Just food for thought. > > Hi TIM F! been awhile hey! > Johan you still out there? > Dan M Where have you been hiding ! > Harlan > > Just a thought. > > > - > > > > - > > - - ------------------------------ Date: Wed, 26 Apr 2000 08:36:55 -0600 From: Earl Setser Subject: Re: [CANSLIM] Follow through's I don't agree. This is from WON's 26 course, lesson 14, How to Spot When the Market Bottoms, "One of these attempted rallies will finally ''follow through,'' showing real power, indicated by one or more of the indexes (Dow, S&P 500 or Nasdaq composite) closing up 1% or more, with a significant jump in volume from the day before." It seems that the "significant jump in volume" hasn't been used by IBD lately. I believe they confirmed a follow-through a while back with a very small increase in volume. However, I think it's clear that volume is part of the picture. At 06:32 AM 4/26/00 -0700, you wrote: >Hi Luke, > >Re: your second instruction: >The 1st rally day does not have to be up >1% on increased >volume...only up from the previous day with volume not a >factor. > >Regards, >Ziggy > > >Luke Lang wrote: > >> John, >> >> Here is my first attempt at a scan. It did confirm >> NASDAQ as a follow-through day today. I hope you find >> it useful. I welcome any suggestions. >> >> I am not very clear on the definition of a >> distribution day. If anyone can help to define it, I >> will try to write a scan. >> >> Best regards, >> Luke Lang >> >> PS: I tried to scan all stocks in QP2, but it kept on >> complaining about not being able to load more than 10 >> days. I don't know what the problems are. When I >> limit the scan to a smaller list of stock, it worked >> well. >> >> Input="luke.lst"; >> Output="lkfollow.lst"; >> >> Integer i, rallyday; >> >> DaysToLoad = 50; >> >> // proceed only if up 1% on higher volume >> If (Close(0) >= 1.01 * Close(-1)) and >> (Vol(0) > Vol(-1)) then >> rallyday := 0; >> >> // find first rally day, which is also up 1% on >> higher volume >> For i = -3 to -10 step -1 >> Do >> If (Close(i) >= 1.01 * Close(i-1)) and >> (Vol(i) > Vol(i-1)) and >> (rallyday = 0) then >> rallyday := i; >> endif; >> next i; >> >> // make sure the low on rally day is intact >> For i = 0 to rallyday+1 step -1 >> Do >> If Low(i) < Low(rallyday) then >> rallyday := 0; >> endif; >> next i; >> >> If not (rallyday = 0) then >> println symbol, ",", rallyday; >> endif; >> endif; >> >> --- John Adair wrote: >> > >> > would you go ahead and place this formula into a >> > search. >> > another good search would be to pick out the stocks >> > which are undergoing >> > distribution. Perhaps you could help us with that >> > to. >> > -----Original Message----- >> > From: owner-canslim@lists.xmission.com >> > [mailto:owner-canslim@lists.xmission.com]On Behalf >> > Of Luke Lang >> > Sent: Wednesday, April 12, 2000 1:12 AM >> > To: canslim@lists.xmission.com >> > Subject: Re: [CANSLIM] Follow through's >> > >> > >> > It seems to me that we should be able to quantify >> > what >> > constitutes a follow through day and write a scan >> > for >> > charting programs to identify it. I will take the >> > first stab at it. Please correct me if I'm wrong. >> > >> > I will use QP2's notation. Close(0) and Vol(0) are >> > today's closing price and volume. Close(-1) and >> > Vol(-1) are yesterday's close and volume. >> > >> > A follow through day is identified if all of the >> > following conditions are met: >> > 1) Close(0) >= 1.01 * Close(-1) => closing up by 1% >> > 2) Vol(0) > Vol(-1) => on higher volume >> > For i = 3 to 10, >> > 3) Close(-i) >= 1.01 * Close(-i-1) => first rally >> > attempt 3 to 10 days ago >> > 4) Vol(-i) > Vol(-i-1) => on higher volume >> > >> > Conditions 3) and 4) only have to be met for one day >> > between 3 and 10 days ago. >> > >> > Are there any other conditions that one should add? >> > Thanks. >> > >> > Best regards, >> > Luke Lang >> > >> >> __________________________________________________ >> Do You Yahoo!? >> Send online invitations with Yahoo! Invites. >> http://invites.yahoo.com >> >> - > > >- > > > - - ------------------------------ Date: Wed, 26 Apr 2000 07:41:05 -0700 From: Subject: Re: [CANSLIM] Follow through's Hi Earl, You are talking about the F/T day and are correct...What I'm talking about is not the follow-through day but rather the 1st day of an attempted rally...the point from which you start counting looking for a follow-through day. On that day, volume is not a factor. Ziggy Earl Setser wrote: > I don't agree. This is from WON's 26 course, lesson 14, How to Spot When > the Market Bottoms, "One of these attempted rallies will finally ''follow > through,'' showing real power, indicated by one or more of the indexes > (Dow, S&P 500 or Nasdaq composite) closing up 1% or more, with a > significant jump in volume from the day before." > > It seems that the "significant jump in volume" hasn't been used by IBD > lately. I believe they confirmed a follow-through a while back with a very > small increase in volume. However, I think it's clear that volume is part > of the picture. > > At 06:32 AM 4/26/00 -0700, you wrote: > >Hi Luke, > > > >Re: your second instruction: > >The 1st rally day does not have to be up >1% on increased > >volume...only up from the previous day with volume not a > >factor. > > > >Regards, > >Ziggy > > > > > >Luke Lang wrote: > > > >> John, > >> > >> Here is my first attempt at a scan. It did confirm > >> NASDAQ as a follow-through day today. I hope you find > >> it useful. I welcome any suggestions. > >> > >> I am not very clear on the definition of a > >> distribution day. If anyone can help to define it, I > >> will try to write a scan. > >> > >> Best regards, > >> Luke Lang > >> > >> PS: I tried to scan all stocks in QP2, but it kept on > >> complaining about not being able to load more than 10 > >> days. I don't know what the problems are. When I > >> limit the scan to a smaller list of stock, it worked > >> well. > >> > >> Input="luke.lst"; > >> Output="lkfollow.lst"; > >> > >> Integer i, rallyday; > >> > >> DaysToLoad = 50; > >> > >> // proceed only if up 1% on higher volume > >> If (Close(0) >= 1.01 * Close(-1)) and > >> (Vol(0) > Vol(-1)) then > >> rallyday := 0; > >> > >> // find first rally day, which is also up 1% on > >> higher volume > >> For i = -3 to -10 step -1 > >> Do > >> If (Close(i) >= 1.01 * Close(i-1)) and > >> (Vol(i) > Vol(i-1)) and > >> (rallyday = 0) then > >> rallyday := i; > >> endif; > >> next i; > >> > >> // make sure the low on rally day is intact > >> For i = 0 to rallyday+1 step -1 > >> Do > >> If Low(i) < Low(rallyday) then > >> rallyday := 0; > >> endif; > >> next i; > >> > >> If not (rallyday = 0) then > >> println symbol, ",", rallyday; > >> endif; > >> endif; > >> > >> --- John Adair wrote: > >> > > >> > would you go ahead and place this formula into a > >> > search. > >> > another good search would be to pick out the stocks > >> > which are undergoing > >> > distribution. Perhaps you could help us with that > >> > to. > >> > -----Original Message----- > >> > From: owner-canslim@lists.xmission.com > >> > [mailto:owner-canslim@lists.xmission.com]On Behalf > >> > Of Luke Lang > >> > Sent: Wednesday, April 12, 2000 1:12 AM > >> > To: canslim@lists.xmission.com > >> > Subject: Re: [CANSLIM] Follow through's > >> > > >> > > >> > It seems to me that we should be able to quantify > >> > what > >> > constitutes a follow through day and write a scan > >> > for > >> > charting programs to identify it. I will take the > >> > first stab at it. Please correct me if I'm wrong. > >> > > >> > I will use QP2's notation. Close(0) and Vol(0) are > >> > today's closing price and volume. Close(-1) and > >> > Vol(-1) are yesterday's close and volume. > >> > > >> > A follow through day is identified if all of the > >> > following conditions are met: > >> > 1) Close(0) >= 1.01 * Close(-1) => closing up by 1% > >> > 2) Vol(0) > Vol(-1) => on higher volume > >> > For i = 3 to 10, > >> > 3) Close(-i) >= 1.01 * Close(-i-1) => first rally > >> > attempt 3 to 10 days ago > >> > 4) Vol(-i) > Vol(-i-1) => on higher volume > >> > > >> > Conditions 3) and 4) only have to be met for one day > >> > between 3 and 10 days ago. > >> > > >> > Are there any other conditions that one should add? > >> > Thanks. > >> > > >> > Best regards, > >> > Luke Lang > >> > > >> > >> __________________________________________________ > >> Do You Yahoo!? > >> Send online invitations with Yahoo! Invites. > >> http://invites.yahoo.com > >> > >> - > > > > > >- > > > > > > > > - - - ------------------------------ Date: Wed, 26 Apr 2000 08:57:08 -0600 From: Earl Setser Subject: Re: [CANSLIM] Re: follow thru day? They confirmed the FT days on all three averages. They discussed that the NASDAQ FT was relatively weak, but pointed out that the other two averages looked better, so the FT should be considered valid. After that, they went into a list of concerns about the market in general. "Still, you don't have to look hard to find reasons why this rally may flame out. First, a confirmed rally so early in a bear market tends to collapse...", etc. They mentioned the high bullish sentiment, that earnings is driving the rally, and 85% of S&P500 companies will have announced by the end of the week, then we go back to economy news. However, they again hedge with "But there's no use arguing with the market if leading stocks begin to break out and surge higher. A few Chips such as Teradyne and Altera hit highs Tuesday, making that sector the best bet for market leadership should the rally succeed." And finally, the final paragraph warns to be cautious, stay away from "too much margin", and cut losses quickly. I find that the Big Picture generally has some good info, but you really have to sort out the hedging they throw in it. I don't think I've seen a solid opinion of a top or a bottom in the article, (except a few weeks later in hindsight) and I guess that's to be expected. At 01:40 PM 4/26/00 +0100, you wrote: >Hi Tom, >Thank you for comments. Overall volume on the NASDAQ seemed light but the >A/D was in favour with volume in advancing stocks much bigger than >declining. >Does anyone know what the Big Picture comment is in IBD today? >----- Original Message ----- >From: Tom Worley >To: >Sent: Wednesday, April 26, 2000 6:22 AM >Subject: Re: [CANSLIM] Re: follow thru day? > > >> Hi Harlan, >> >> A rally must start someplace, and I am persuaded that we >> presently meet the requirements of WON's rules. In addition to >> what has already been said about FT days, and where we count >> from, and how many days, etc., I would add that today's action >> did not undercut the most immediate intraday or closing lows; >> started at brief basing levels from before; closed above >> resistance levels from before; but also lacked the volume >> confirmations needed. If I was not already 100% invested (told >> you I was a risk taker), I would be inclined to wait a day or two >> at least and see if a trend develops. After all, this market has >> been marked by Naz up a near record one day, and down a near >> record the next. And Naz up while NYSE down, and vice versa. So >> one day clearly, despite the strong earnings reports, does not >> set a pattern. >> >> Tom Worley >> stkguru@netside.net >> chat with me at ICQ # 5568838 >> get ICQ software at http://www.icq.com/icqhomepage.html >> >> >> ----- Original Message ----- >> From: Harlan Pyan >> To: >> Sent: Wednesday, April 26, 2000 12:19 AM >> Subject: [CANSLIM] Re: follow thru day? >> >> >> Correct me if I'm wrong however all I've really seen thus far is >> that yesterday was a >> reversal day and today is day one of a 1234. As far as a follow >> thru day is concerned >> I'd have to say that we need to have a few things happen on the >> OTC >> 1. 4th thru 10th day see a 1% follow thru to the upside on good >> volume or should I >> say a 3 to 4% up day due to volitility. >> 2. A crossover of 3880 that was put in on last Tues. >> 3. And How bout the leadership (semi's) crossing over theyre >> downtrend lines since >> peaking, sure theyre bumping up against them now (some are some >> arent,mixed bag)but >> they need to stick above them for the next few days. >> 4. and most importantly no lack of SOLID BASING STUCTURES out >> there. I dont see >> enough of them out there to sustain a move of any magnitude >> currently. >> Anybody else see any? >> >> For now? All I really see is a highly emotional market and a lot >> of damage thats been >> done that isnt going to work itself off in a week or two. We need >> to establish all >> new basing structures before we can get to throw darts times >> again, at least intech >> land. >> >> I'd look at the OTC this way >> resistance 3880 >> support 3227 or an undercut. >> when you look at those two numbers and a chart of the OTC all you >> really have to know >> is that we'll be locked in a trading range for awhile most likely >> around those two >> numbers >> As for bright spots? POG,SII these are nice trendline trades >> that trade off of >> theyre 50day MAverages. >> Just food for thought. >> >> Hi TIM F! been awhile hey! >> Johan you still out there? >> Dan M Where have you been hiding ! >> Harlan >> >> Just a thought. >> >> >> - >> >> >> >> - >> >> > > > >- > > > - - ------------------------------ Date: Wed, 26 Apr 2000 08:57:38 -0600 From: Earl Setser Subject: Re: [CANSLIM] Follow through's Whoops, I guess I do agree then. At 07:41 AM 4/26/00 -0700, you wrote: >Hi Earl, >You are talking about the F/T day and are correct...What I'm talking about is >not the follow-through day but rather the 1st day of an attempted rally...the >point from which you start counting looking for a follow-through day. On that >day, volume is not a factor. >Ziggy > >Earl Setser wrote: > >> I don't agree. This is from WON's 26 course, lesson 14, How to Spot When >> the Market Bottoms, "One of these attempted rallies will finally ''follow >> through,'' showing real power, indicated by one or more of the indexes >> (Dow, S&P 500 or Nasdaq composite) closing up 1% or more, with a >> significant jump in volume from the day before." >> >> It seems that the "significant jump in volume" hasn't been used by IBD >> lately. I believe they confirmed a follow-through a while back with a very >> small increase in volume. However, I think it's clear that volume is part >> of the picture. >> >> At 06:32 AM 4/26/00 -0700, you wrote: >> >Hi Luke, >> > >> >Re: your second instruction: >> >The 1st rally day does not have to be up >1% on increased >> >volume...only up from the previous day with volume not a >> >factor. >> > >> >Regards, >> >Ziggy >> > >> > >> >Luke Lang wrote: >> > >> >> John, >> >> >> >> Here is my first attempt at a scan. It did confirm >> >> NASDAQ as a follow-through day today. I hope you find >> >> it useful. I welcome any suggestions. >> >> >> >> I am not very clear on the definition of a >> >> distribution day. If anyone can help to define it, I >> >> will try to write a scan. >> >> >> >> Best regards, >> >> Luke Lang >> >> >> >> PS: I tried to scan all stocks in QP2, but it kept on >> >> complaining about not being able to load more than 10 >> >> days. I don't know what the problems are. When I >> >> limit the scan to a smaller list of stock, it worked >> >> well. >> >> >> >> Input="luke.lst"; >> >> Output="lkfollow.lst"; >> >> >> >> Integer i, rallyday; >> >> >> >> DaysToLoad = 50; >> >> >> >> // proceed only if up 1% on higher volume >> >> If (Close(0) >= 1.01 * Close(-1)) and >> >> (Vol(0) > Vol(-1)) then >> >> rallyday := 0; >> >> >> >> // find first rally day, which is also up 1% on >> >> higher volume >> >> For i = -3 to -10 step -1 >> >> Do >> >> If (Close(i) >= 1.01 * Close(i-1)) and >> >> (Vol(i) > Vol(i-1)) and >> >> (rallyday = 0) then >> >> rallyday := i; >> >> endif; >> >> next i; >> >> >> >> // make sure the low on rally day is intact >> >> For i = 0 to rallyday+1 step -1 >> >> Do >> >> If Low(i) < Low(rallyday) then >> >> rallyday := 0; >> >> endif; >> >> next i; >> >> >> >> If not (rallyday = 0) then >> >> println symbol, ",", rallyday; >> >> endif; >> >> endif; >> >> >> >> --- John Adair wrote: >> >> > >> >> > would you go ahead and place this formula into a >> >> > search. >> >> > another good search would be to pick out the stocks >> >> > which are undergoing >> >> > distribution. Perhaps you could help us with that >> >> > to. >> >> > -----Original Message----- >> >> > From: owner-canslim@lists.xmission.com >> >> > [mailto:owner-canslim@lists.xmission.com]On Behalf >> >> > Of Luke Lang >> >> > Sent: Wednesday, April 12, 2000 1:12 AM >> >> > To: canslim@lists.xmission.com >> >> > Subject: Re: [CANSLIM] Follow through's >> >> > >> >> > >> >> > It seems to me that we should be able to quantify >> >> > what >> >> > constitutes a follow through day and write a scan >> >> > for >> >> > charting programs to identify it. I will take the >> >> > first stab at it. Please correct me if I'm wrong. >> >> > >> >> > I will use QP2's notation. Close(0) and Vol(0) are >> >> > today's closing price and volume. Close(-1) and >> >> > Vol(-1) are yesterday's close and volume. >> >> > >> >> > A follow through day is identified if all of the >> >> > following conditions are met: >> >> > 1) Close(0) >= 1.01 * Close(-1) => closing up by 1% >> >> > 2) Vol(0) > Vol(-1) => on higher volume >> >> > For i = 3 to 10, >> >> > 3) Close(-i) >= 1.01 * Close(-i-1) => first rally >> >> > attempt 3 to 10 days ago >> >> > 4) Vol(-i) > Vol(-i-1) => on higher volume >> >> > >> >> > Conditions 3) and 4) only have to be met for one day >> >> > between 3 and 10 days ago. >> >> > >> >> > Are there any other conditions that one should add? >> >> > Thanks. >> >> > >> >> > Best regards, >> >> > Luke Lang >> >> > >> >> >> >> __________________________________________________ >> >> Do You Yahoo!? >> >> Send online invitations with Yahoo! Invites. >> >> http://invites.yahoo.com >> >> >> >> - >> > >> > >> >- >> > >> > >> > >> >> - > > >- > > > - - ------------------------------ Date: Wed, 26 Apr 2000 08:43:13 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Re: follow thru day? Nice analysis Harlan but you're departing from HTMMIS (so what else is new?) Welcome back! 4/19 during the failed rally attempt the high was 3851 - - I'd like to see a close above that level. Is that what you are referring to or does 3880 come from somewhere else? P.S. whoever was asking about the failed rallies - the first one ended 4/7 at 4446 and the second one on 4/18 at 3793. On 09:19 PM 4/25/00, Harlan Pyan Said: >Correct me if I'm wrong however all I've really seen thus far is that >yesterday was a >reversal day and today is day one of a 1234. As far as a follow thru day >is concerned >I'd have to say that we need to have a few things happen on the OTC >1. 4th thru 10th day see a 1% follow thru to the upside on good volume or >should I >say a 3 to 4% up day due to volitility. >2. A crossover of 3880 that was put in on last Tues. >3. And How bout the leadership (semi's) crossing over theyre downtrend >lines since >peaking, sure theyre bumping up against them now (some are some >arent,mixed bag)but >they need to stick above them for the next few days. >4. and most importantly no lack of SOLID BASING STUCTURES out there. I >dont see >enough of them out there to sustain a move of any magnitude currently. >Anybody else see any? > >For now? All I really see is a highly emotional market and a lot of damage >thats been >done that isnt going to work itself off in a week or two. We need to >establish all >new basing structures before we can get to throw darts times again, at >least intech >land. > >I'd look at the OTC this way >resistance 3880 >support 3227 or an undercut. >when you look at those two numbers and a chart of the OTC all you really >have to know >is that we'll be locked in a trading range for awhile most likely around >those two >numbers >As for bright spots? POG,SII these are nice trendline trades that trade >off of >theyre 50day MAverages. >Just food for thought. > >Hi TIM F! been awhile hey! >Johan you still out there? >Dan M Where have you been hiding ! >Harlan > >Just a thought. > > >- Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Wed, 26 Apr 2000 14:51:23 -0400 From: asosis@ca.ibm.com Subject: Re: [CANSLIM] DGO List - GIL Hello all. I would like to ask your advice on GIL. I am a little confused by the recent GIL behavior. As Tom pointed out, it has been locked in the trading range, formed what appears to me 'triple bottom' and seems to have broken out on the 20th. However, it has closed down on both Monday and Tuesday on large (and increasing) volume. IT seems like it will do the same today. Does anyone know what kind of TA apply here? If it is forming C&H, shouldn't the volume decline? If this is a triple top reversal pattern, should it not have failed to break out? Also, if I wanted to buy it, what do you think the right price is? I calculate 33 to be the base (if you can call it that), so 5% above that gives 35.60 Sorry if my questions seem naive, I am trying to go 'by the book' here. "Tom Worley" on 04/22/2000 08:56:35 AM Please respond to canslim@lists.xmission.com To: "CANSLIM" cc: Subject: [CANSLIM] DGO List - Part one Happy Easter to all, but not apparently in the Cuban community. Judging by the volume (non volume??) of email in the group, seems not too many are thinking about stocks this weekend. But there are still a few of us otherwise without a life, that are trying to find you a few pearls when we are not watching reruns of masked US marshals kidnapping six year old boys in the middle of the night. If I didn't know better, I'd think I was in some third world country!! If the father truly wanted to see his son, why didn't he just fly into Miami?? I am amazed that Little Havana is not rioting this morning, I really respect the reaction as sentiments are pretty strong here. I am so disgusted with the US government, and DOJ in particular, right now. Why didn't they just kidnap the father and bring him here, he could have handled the trauma far better. I am sure Castro is smiling this morning. Anyway, enough politics, and I thought media stock commentators and lawyers were disgusting! The list this week starts at 72, down slightly from last week's at 79, and in line with the previous week of 71. Consolidation, maybe? Wouldn't be a bad option, certainly better than a retest of lows. An optimistic start for me, the very first one on the overall list is already on my watch list: ATMS, consolidating, caution, not only low priced (under 8) but also a small cap. GIL: - broke a new high on volume APH - nice recovery, looks good NBTY - lengthy consolidation, several failed breakouts ASGN - B3 PLXS - nice rally back near highs TWP - another nice funnel, B3+ ALTR - another nice consolidation, recovery, over 6 weeks HH - once again here, B3 APCC - 5 week consolidation CVG - another nice consolidation, volume needs to dry up CUNO - breakout starting on Thu, B6 RELL - consolidation EQT - B3 Sorry, I am too distracted by what is going on in my home community to look at more stock charts now. Will finish the list later. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - - - - ------------------------------ Date: Wed, 26 Apr 2000 18:51:55 -0600 From: Earl Setser Subject: Re: [CANSLIM] DGO List - GIL At 02:51 PM 4/26/00 -0400, you wrote: > > >Hello all. > >I would like to ask your advice on GIL. > >I am a little confused by the recent GIL behavior. As Tom pointed out, it >has been locked in the trading range, formed what appears to me >'triple bottom' and seems to have broken out on the 20th. However, it has >closed down on both Monday and Tuesday on large (and increasing) volume. >IT seems like it will do the same today. Does anyone know what kind of TA >apply here? If it is forming C&H, shouldn't the volume decline? If this >is a triple top reversal pattern, should it not have failed to break out? >Also, if I wanted to buy it, what do you think the right price is? I >calculate 33 to be the base (if you can call it that), so 5% above that >gives 35.60 > >Sorry if my questions seem naive, I am trying to go 'by the book' here. > > > Looking at the chart, I would make the pivot at 35.5. That is just above the highest closing price (35.25 on 2/11). If you are interested in using the all-time high, then you get a pivot of 36.25. The stock then enters a 10 week base, which looks pretty much like you described, a triple bottom. I can't get a good cup and handle out of this, so I'll go with your description. There is a flag starting about 4/12, but the lows are rising and the highs are falling, so I would call that a flag. On 4/20 the stock breaks out on pretty good volume. I show the ADV at about 43,000 shares, and that makes the B/O about 2X ADV, pretty nice. But then the trouble starts, the stock trades lower (if only slightly) on VERY HIGH volume over the next two days. Today, the volume drops somewhat, but the price falls quite a bit on greater than 1.5 X ADV. I think this action is very suspect, and I wouldn't be surprised to see more weakness this week, particularly if the market falls some more. On the other hand, the stock may recover nicely tomorrow and break back above 35.25 or so. If it does on good volume, this could offer a second buying opp. WON states that many stocks will test the pivot point shortly after a breakout. I think he mentioned that volume was the best thing to watch in these cases. I certainly would consider any weakness from here a very bad sign. - - ------------------------------ Date: Wed, 26 Apr 2000 22:38:43 -0400 From: Robert Subject: [CANSLIM] Differant way to view stock charts Hi all: I found this web site that shows Island bid/ask prices in 3d. Nice for the visual group members. http://www.3dstockcharts.com/index2.htm Robert __________________________________________________ Do You Yahoo!? Talk to your friends online with Yahoo! Messenger. http://im.yahoo.com - - ------------------------------ Date: Wed, 26 Apr 2000 21:05:54 -0600 From: "Patrick Wahl" Subject: Re: [CANSLIM] DGO List - GIL On 26 Apr 00, at 14:51, asosis@ca.ibm.com wrote: > > > Hello all. > > I would like to ask your advice on GIL. > > I am a little confused by the recent GIL behavior. As Tom pointed out, it > has been locked in the trading range, formed what appears to me > 'triple bottom' and seems to have broken out on the 20th. However, it has > closed down on both Monday and Tuesday on large (and increasing) volume. > IT seems like it will do the same today. Does anyone know what kind of TA > apply here? If it is forming C&H, shouldn't the volume decline? If this > is a triple top reversal pattern, should it not have failed to break out? > Also, if I wanted to buy it, what do you think the right price is? I > calculate 33 to be the base (if you can call it that), so 5% above that > gives 35.60 I would not call that a triple bottom, that implies a stock that has been going down and hits a support point 3 times. I think it has formed a nice looking base. Also, not a C&H, more of a flat base. I think your buy point sounds about right, that was probably a breakout on April 20, but as you note, it has gone down on increased volume since then, so its now a failed breakout. I think now it has to hold up in the area of the most recent base, it probably shouldn't drop much below the recent lows around 29. Thats my read on the chart anyway, others may have a slightly different interpretation of things. - - ------------------------------ Date: Thu, 27 Apr 2000 00:39:51 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] DGO List - GIL I see today's action as a bit of a "capitulation" selloff following two days of decline, not much of a surprise when it couldn't rally yesterday. The selloff took it back to the 50dma, and it rallied some from there, closing back over the nearest one week base. So seems to me there is still some strength left in it. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - ----- Original Message ----- From: Patrick Wahl To: Sent: Wednesday, April 26, 2000 11:05 PM Subject: Re: [CANSLIM] DGO List - GIL On 26 Apr 00, at 14:51, asosis@ca.ibm.com wrote: > > > Hello all. > > I would like to ask your advice on GIL. > > I am a little confused by the recent GIL behavior. As Tom pointed out, it > has been locked in the trading range, formed what appears to me > 'triple bottom' and seems to have broken out on the 20th. However, it has > closed down on both Monday and Tuesday on large (and increasing) volume. > IT seems like it will do the same today. Does anyone know what kind of TA > apply here? If it is forming C&H, shouldn't the volume decline? If this > is a triple top reversal pattern, should it not have failed to break out? > Also, if I wanted to buy it, what do you think the right price is? I > calculate 33 to be the base (if you can call it that), so 5% above that > gives 35.60 I would not call that a triple bottom, that implies a stock that has been going down and hits a support point 3 times. I think it has formed a nice looking base. Also, not a C&H, more of a flat base. I think your buy point sounds about right, that was probably a breakout on April 20, but as you note, it has gone down on increased volume since then, so its now a failed breakout. I think now it has to hold up in the area of the most recent base, it probably shouldn't drop much below the recent lows around 29. Thats my read on the chart anyway, others may have a slightly different interpretation of things. - - - - ------------------------------ Date: Thu, 27 Apr 2000 00:51:06 -0400 From: "Tom Worley" Subject: [CANSLIM] Nice pivot point breakout in the midst of turmoil If you want to see a nice b/o from a pivot point (unfortunately I missed it, tho had it on my watch list!! aarrrrggghhh), take a look at EPII - 99/77/A/A/A/A - wasn't even fazed by the recent mkt behavior - don't know if there was any news behind this move. It did report nice Q1 earnings, so nice to see good earnings rewarded for a change. boring industry, tho. Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - - ------------------------------ Date: Thu, 27 Apr 2000 19:30:50 -0700 From: Subject: [CANSLIM] Message test I have not received a CANSLIM e-mail from this group since yesterday...is the group just quiet or am I not getting mail? Market was more encouraging today after the early bad start...purchased ALTR and PLXS yesterday so that puts me at about 35% invested. Virtually all the stocks in my watchlist are nowhere near B/Os, in fact most are still in downtrends...they are mostly the large cap techs...VTSS BEAS ETEK QCOM CSCO...DTPI seems to be working on the right side of a cup. Ziggy - - ------------------------------ End of canslim-digest V2 #885 ***************************** 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.