RE: [CANSLIM] DFXI

From: "Mike Gibbons" <webmaster@cwhcharts.com>
Subject: RE: [CANSLIM] DFXI
Date: Wed, 9 Jan 2002 08:08:14 -1000

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Kudos to you, you should be feeling pleased this morning and justly so.

Aloha,
 
Mike Gibbons



- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Dave
Sent: Wednesday, January 09, 2002 5:29 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] DFXI


True, the handle was a bit sloppy but for the most part volume in the
handle was below normal. It also made a pretty nice ascending triangle.

As for the action at the end of the day, I think you're reading too much
into it. The stock made a tremendous surge on volume in the last half hour
of trading. It then pulled back on lower volume but didn't undercut that
"intraday breakout point". It then found some new buyers at the very end
of the session.

You can find flaws in any chart formation. I've missed many huge winners
by refusing to buy what I perceived as a flawed handle, or by putting too
much weight on intraday analysis. Even IBD will go on to call "perfect
cup-handle breakouts" on stocks that have somewhat questionable
formations. I won't be surprised to see DFXI mentioned tomorrow as a good
example.

Of course hindsight is 20/20. Nevertheless I'm glad I bought yesterday :)


> > Yes it did but fell back below it's high of the day. Also,
> action in the
> > handle has been sloppy - one normally hopes to see price
> pullback on falling
> > volume but in fact it's made a couple of attempts to BO on
> above average
> > volume since forming the pivot on 12/10. I wouldn't rush in with an
> > overnight order!
> >
> > Mike Gibbons


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