Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Bulkowski re: patterns besides C&H
Date: Tue, 8 Jan 2002 22:45:15 -0500
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Hi David,
Thanks for the kind words, I hope what I post helps you and other =
members.
I am an investor, especially now that I have little time to watch the =
markets. Even when I was an active stock broker, I did very little short =
term trading, and then only when the clients wanted to, and were =
suitable. When I consider buying a stock, I always ask myself the =
question, "am I willing to own this stock for at least three months, =
even if it's not making me money?" If the answer is not a resounding YES =
(based on fundies, my projection of future earnings, chart, "M", etc.) =
then I don't buy it. That simple. Ideally for me, I want to like it =
enough to own it for a year or two.
I have actually bought very few LLUR patterns, just a personal quirk =
with me, I guess. But you don't want to buy a LLUR on a true b/o, =
because that may signal the end of the pattern. Whether investing or =
trading, the ideal is to buy as it nudges and bounces off the moving =
average line you have determined best describes the lower trend line. At =
that point it is likely to be below its 12 month high, usually just set =
a few days to a few weeks prior. What you are buying is a trend, and =
when the trend changes you must be on guard. A sharp breakout up would =
signal a change, and be cause for you to have your finger on the sell =
trigger. A break down in price can be sharp, because there is no other =
established base nearby to create support on any correction. And holders =
of long term tend to get complacent, once they start to panic, it can =
quickly turn into an avalanche of sell orders.
I must point out to members that LLUR is not a recognized or documented =
pattern. It was contributed as a concept to this group by a former =
member (James??) that ultimately left in a huff when some of his other =
ideas and practices were not as well accepted by some members (me =
particularly). But this was one that did make sense. The chart pattern =
is seen more clearly by tilting your head about 30 to 45 degrees to the =
left (depending on the angle of the trend). You then see a flat line =
base that is ultimately steadily appreciating in price.=20
Tom Worley
stkguru@netside.net
AIM: TexWorley
----- Original Message -----=20
From: david frank=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, January 08, 2002 10:30 PM
Subject: Re: [CANSLIM] Bulkowski re: patterns besides C&H
tom, you sure do write with clarity. on the flat base patterns, do you =
invest for the short or long term. and the LLUR patterns, do you trade =
with the trend or wait for B/Os. and also thank you for your weekly list =
i believe everyone appreciates it!!! david
----- Original Message -----=20
From: Tom Worley=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, January 08, 2002 8:57 PM
Subject: Re: [CANSLIM] Bulkowski re: patterns besides C&H
You did fine, Katherine. I would only disagree with your comment =
that it follows the 50DMA. The 50 is the one I have noticed the most =
frequently, but that may be because DGO displays it. The best bet is to =
use a charting service like BigCharts that allows for variable time =
displays with different MA lines, and try a few till you find one that =
most closely fits that particular stock.
One of the keys to the "quality" of a LLUR (after it already =
demonstrates solid CANSLIM criteria for growth, RS, EPS, etc) is the =
degree of volatility. Less is better.=20
LLUR patterns can be used for both trading and investing. For =
trading, it's critical to accurately identify the upper and lower trend =
lines as they represent your short term exit and entry points. For =
investing, with a smooth LLUR, you can pick just about any point for =
entry. Your exit point is when the LLUR pattern changes, either with a =
big break out up or down, or when a down trend crosses the lower trend =
line.
Hope this helps,
Tom Worley
stkguru@netside.net
AIM: TexWorley
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, January 08, 2002 6:09 PM
Subject: Re: [CANSLIM] Bulkowski re: patterns besides C&H
Hi Dave,
The "Encyclopedia of Chart Patterns" is the only one on the =
shelves just now. The new book "Trading Strategies" I believe is due any =
time. I have pre-ordered it, but who knows if it'll be any good!
LLUR is a list term which stands for "Lower Left Upper Right." At =
least, so far, it's not in any TA book. Tom will answer this question a =
little differently, but I see it as a stock in a long ascent which hugs =
the 50dMA very closely in a well defined trading range. I believe Tom =
says that it lasts a year or so. WON uses a term called "ascending base" =
that is similar, but shorter lived than the LLUR. When Tom posts this =
evening, I'm sure he'll explain further.
Katherine
----- Original Message -----=20
From: J. David Stem=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, January 08, 2002 5:09 PM
Subject: Re: [CANSLIM] Bulkowski re: patterns besides C&H
Katherine et al,
Which of the two Bulkowski books is best? I can't find them at =
the local=20
B&N and am going to order from Amazon.
By the way, I hate to ask, but what is LLUR? It's the one =
acronym that's=20
escaping me!
Dave
=
_________________________________________________________________
Chat with friends online, try MSN Messenger: =
http://messenger.msn.com
-
-To subscribe/unsubscribe, email "majordomo@xmission.com"
-In the email body, write "subscribe canslim" or
-"unsubscribe canslim". Do not use quotes in your email.
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charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=3DContent-Type content=3D"text/html; =
charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2712.300" name=3DGENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial>Hi David,</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Thanks for the kind words, I hope what I post =
helps you=20
and other members.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>I am an investor, especially now that I have =
little time=20
to watch the markets. Even when I was an active stock broker, I did very =
little=20
short term trading, and then only when the clients wanted to, and were =
suitable.=20
When I consider buying a stock, I always ask myself the question, "am I =
willing=20
to own this stock for at least three months, even if it's not making me =
money?"=20
If the answer is not a resounding YES (based on fundies, my projection =
of future=20
earnings, chart, "M", etc.) then I don't buy it. That simple. Ideally =
for me, I=20
want to like it enough to own it for a year or two.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>I have actually bought very few LLUR patterns, =
just a=20
personal quirk with me, I guess. But you don't want to buy a LLUR on a =
true b/o,=20
because that may signal the end of the pattern. Whether investing or =
trading,=20
the ideal is to buy as it nudges and bounces off the moving average line =
you=20
have determined best describes the lower trend line. At that point it is =
likely=20
to be below its 12 month high, usually just set a few days to a few =
weeks prior.=20
What you are buying is a trend, and when the trend changes you must be =
on guard.=20
A sharp breakout up would signal a change, and be cause for you to have =
your=20
finger on the sell trigger. A break down in price can be sharp, because =
there is=20
no other established base nearby to create support on any correction. =
And=20
holders of long term tend to get complacent, once they start to panic, =
it can=20
quickly turn into an avalanche of sell orders.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>I must point out to members that LLUR is not a =
recognized=20
or documented pattern. It was contributed as a concept to this group by =
a former=20
member (James??) that ultimately left in a huff when some of his other =
ideas and=20
practices were not as well accepted by some members (me particularly). =
But this=20
was one that did make sense. The chart pattern is seen more clearly by =
tilting=20
your head about 30 to 45 degrees to the left (depending on the angle of =
the=20
trend). You then see a flat line base that is ultimately steadily =
appreciating=20
in price. </FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV>Tom Worley<BR><A=20
href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A><BR>AIM:=20
TexWorley</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=3Dcamelot.homes@charter.net=20
href=3D"mailto:camelot.homes@charter.net">david frank</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> Tuesday, January 08, 2002 =
10:30=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Bulkowski re:=20
patterns besides C&H</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>tom, you sure do write with clarity. =
on the flat=20
base patterns, do you invest for the short or long term. and the LLUR=20
patterns, do you trade with the trend or wait for B/Os. and also thank =
you for=20
your weekly list i believe everyone appreciates it!!! =
david</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=3Dstkguru@netside.net =
href=3D"mailto:stkguru@netside.net">Tom=20
Worley</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>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, January 08, =
2002 8:57=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Bulkowski re:=20
patterns besides C&H</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial>You did fine, Katherine. I would only =
disagree with=20
your comment that it follows the 50DMA. The 50 is the one I =
have=20
noticed the most frequently, but that may be because DGO displays =
it. The=20
best bet is to use a charting service like BigCharts that allows for =
variable time displays with different MA lines, and try a few till =
you find=20
one that most closely fits that particular stock.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>One of the keys to the "quality" of a LLUR =
(after it=20
already demonstrates solid CANSLIM criteria for growth, RS, EPS, =
etc) is the=20
degree of volatility. Less is better. </FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>LLUR patterns can be used for both trading =
and=20
investing. For trading, it's critical to accurately identify the =
upper and=20
lower trend lines as they represent your short term exit and entry =
points.=20
For investing, with a smooth LLUR, you can pick just about any point =
for=20
entry. Your exit point is when the LLUR pattern changes, either with =
a big=20
break out up or down, or when a down trend crosses the lower trend=20
line.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>Hope this helps,</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV>Tom Worley<BR><A=20
href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A><BR>AIM:=20
TexWorley</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=20
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> Tuesday, January 08, =
2002 6:09=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Bulkowski re:=20
patterns besides C&H</DIV>
<DIV><BR></DIV>
<DIV>Hi Dave,</DIV>
<DIV> </DIV>
<DIV>The "Encyclopedia of Chart Patterns" is the only one on =
the=20
shelves just now. The new book "Trading Strategies" I believe is =
due any=20
time. I have pre-ordered it, but who knows if it'll be any =
good!</DIV>
<DIV> </DIV>
<DIV>LLUR is a list term which stands for "Lower Left Upper =
Right." At=20
least, so far, it's not in any TA book. Tom will answer this =
question a=20
little differently, but I see it as a stock in a long ascent which =
hugs=20
the 50dMA very closely in a well defined trading range. I believe =
Tom says=20
that it lasts a year or so. WON uses a term called "ascending =
base" that=20
is similar, but shorter lived than the LLUR. When Tom posts this =
evening,=20
I'm sure he'll explain further.</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=3Djdavidstem@msn.com =
href=3D"mailto:jdavidstem@msn.com">J. David=20
Stem</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
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> Tuesday, January =
08, 2002=20
5:09 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Bulkowski=20
re: patterns besides C&H</DIV>
<DIV><BR></DIV>Katherine et al,<BR><BR>Which of the two =
Bulkowski books=20
is best? I can't find them at the local <BR>B&N and am =
going=20
to order from Amazon.<BR><BR>By the way, I hate to ask, but what =
is=20
LLUR? It's the one acronym that's <BR>escaping=20
=
me!<BR><BR>Dave<BR><BR><BR><BR>__________________________________________=
_______________________<BR>Chat=20
with friends online, try MSN Messenger: <A=20
=
href=3D"http://messenger.msn.com">http://messenger.msn.com</A><BR><BR><BR=
>-<BR>-To=20
subscribe/unsubscribe, email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
=20
the email body, write "subscribe canslim" or<BR>-"unsubscribe=20
canslim". Do not use quotes in your=20
=
email.</BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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