Go to Jeff Salisbury LWGate Home Page.From: "Dan Forant" <dforant1@nycap.rr.com>
Subject: Re: [CANSLIM] stacking the odds in my favor-buying before the pivot point
Date: Fri, 21 Dec 2001 20:05:30 -0500
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Hmmmm, sounds like the Canslim group here is having growing pains. I was =
wondering when some good technical discussions were going to take place. =
It's been buy blindly 1/8 above breakout up to 5% and watch your wallet =
for too long.=20
DanF
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Friday, December 21, 2001 1:24 PM
Subject: Re: [CANSLIM] stacking the odds in my favor-buying before the =
pivot point
Patrick,
Really interesting point of view in this quote. Sure makes the case =
for supply & demand driving breakouts. Seems like it also makes the case =
for looking for alternative technical patterns and/or modified entry =
points other than the usual CANSLIM party line.
Katherine
----- Original Message -----=20
From: Patrick Wahl=20
To: canslim@lists.xmission.com=20
Sent: Friday, December 21, 2001 12:13 PM
Subject: Re: [CANSLIM] stacking the odds in my favor-buying before =
the pivot point
I have been wondering for a while if the fact that these breakout =
points have=20
become so well known expains why there seems to be (seems is the key =
word, I=20
have no empirical evidence) so many failed breakouts. I have gotten =
to the point=20
where I frequently wait for a breakout and then buy a pullback, =
rather than trying to=20
anticipate it, or get in at the breakout point. =20
Regarding failed breakouts, I was reading a daytrading book (The =
Master Day=20
Trader, not to be confused with The Master Swing Trader), and found =
the following=20
passage interesting -
"We teach our traders to be the creators of those market events that =
others are=20
waiting for. If the crowd is waiting for the stock to trade above 40 =
before they buy,=20
then we say 'get the stock up to 40 1/8'. In other words, make the =
chart. ... we=20
thought it would be beneficial for you to know how the professionals =
are playing the=20
crowd. The idea is to ignite the action of your desire by getting =
to the crowd to take=20
your lead. It can't always be done, but our Master Traders pull it =
off more often than=20
some might think."
On 21 Dec 2001 at 11:36, Dave Squires wrote:
> the W. For an other "base" it's usually the spot where the major =
resistance
> is overcome. These are obvious points because WON, et al have =
taught
> breakout buying for many years now and the 90's were a breakout =
traders
> utopia.
> Maybe it's not as hard as I make it out to be, but I have not =
had
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-In the email body, write "subscribe canslim" or
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial size=3D2>Hmmmm, sounds like the Canslim group =
here is having=20
growing pains. I was wondering when some good technical discussions were =
going=20
to take place. It's been buy blindly 1/8 above breakout up to 5% and =
watch your=20
wallet for too long. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>DanF</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-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 title=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, December 21, 2001 =
1:24=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] stacking =
the odds=20
in my favor-buying before the pivot point</DIV>
<DIV><BR></DIV>
<DIV>Patrick,</DIV>
<DIV> </DIV>
<DIV>Really interesting point of view in this quote. Sure makes the =
case for=20
supply & demand driving breakouts. Seems like it also makes the =
case for=20
looking for alternative technical patterns and/or modified entry=20
points other than the usual CANSLIM party line.</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-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 title=3Dpjwahl@attbi.com href=3D"mailto:pjwahl@attbi.com">Patrick =
Wahl</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, December 21, =
2001 12:13=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
stacking the=20
odds in my favor-buying before the pivot point</DIV>
<DIV><BR></DIV>I have been wondering for a while if the fact that =
these=20
breakout points have <BR>become so well known expains why there =
seems to be=20
(seems is the key word, I <BR>have no empirical evidence) so many =
failed=20
breakouts. I have gotten to the point <BR>where I frequently =
wait for=20
a breakout and then buy a pullback, rather than trying to =
<BR>anticipate it,=20
or get in at the breakout point. <BR><BR>Regarding failed =
breakouts, I=20
was reading a daytrading book (The Master Day <BR>Trader, not to be =
confused=20
with The Master Swing Trader), and found the following <BR>passage=20
interesting -<BR><BR>"We teach our traders to be the creators of =
those=20
market events that others are <BR>waiting for. If the crowd is =
waiting for=20
the stock to trade above 40 before they buy, <BR>then we say 'get =
the stock=20
up to 40 1/8'. In other words, make the chart. ... we=20
<BR>thought it would be beneficial for you to know how the =
professionals are=20
playing the <BR>crowd. The idea is to ignite the action of =
your desire=20
by getting to the crowd to take <BR>your lead. It can't always =
be=20
done, but our Master Traders pull it off more often than <BR>some =
might=20
think."<BR><BR><BR><BR>On 21 Dec 2001 at 11:36, Dave Squires=20
wrote:<BR><BR>> the W. For an other "base" it's usually the spot =
where=20
the major resistance<BR>> is overcome. These are obvious points =
because=20
WON, et al have taught<BR>> breakout buying for many years now =
and the=20
90's were a breakout traders<BR>>=20
utopia.<BR> > Maybe it's not as hard =
as I=20
make it out to be, but I have not had<BR><BR><BR>-<BR>-To=20
subscribe/unsubscribe, email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
the=20
email body, write "subscribe canslim" or<BR>-"unsubscribe =
canslim". Do=20
not use quotes in your =
email.</BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim". Do not use quotes in your email.
Next Article (by Date): Re: [CANSLIM] stacking the odds in my favor-buying before the pivot point "Dave Squires"
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