RE: [CANSLIM] ASIA?

From: esetser <esetser@covad.net>
Subject: RE: [CANSLIM] ASIA?
Date: Thu, 10 Jan 2002 20:51:19 -0800
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So you only consider cup with handles as true breakouts?  I buy cups, cup
with handles, double bottoms, and flat bases, maybe others.

At 10:44 PM 1/10/02 -0500, you wrote:
>I'm biased, but I prefer to see it as a high handle beginning on 12/6. The
>volume that day was not so great, and there was no true handle, so I don't
>consider it a true breakout.
>
>The handle beginning after that failure is nice and long and volume dried
>up nicely towards the end. The volume on 1/6-1/7 was very high.
>
>Only time will tell the true story...
>
>> -----Original Message-----
>> From: owner-canslim@lists.xmission.com
>> [mailto:owner-canslim@lists.xmission.com]On Behalf Of esetser
>> Sent: Thursday, January 10, 2002 11:25 PM
>> To: canslim@lists.xmission.com
>> Subject: Re: [CANSLIM] ASIA?
>>
>>
>> I read this one differently.  I see ASIA as a stock with a breakout to a
>> new on 12/6.  (And as a matter of fact, I bot it that day.)
>> That breakout
>> became suspect as the stock corrected and closed near its low during the
>> day, and went on to be a failed breakout for anyone buying in during the
>> day.  The action since then is short of the 5 weeks minimum to
>> define a new
>> base, and is confusing in light of the new high it set.. I'm
>> not sure where
>> I would put a pivot on this one.  The volume was fabulous for 2
>> days, but
>> has remained almost as high for the last 2 day pullback, so I
>> would be very
>> cautious.
>>
>> At 04:58 PM 1/10/02 -0500, you wrote:
>> >Hi,
>> >
>> >Just curious on comment about ASIA.  Last few days it looked
>> to be breaking
>> >out of a nice chart formation.  Alas, it seems to be breaking down or
>> >allowing for another re-entry point.  Any thoughts?
>> >
>> >Is this stock considered Canslim "worthy" even though it has
>> seen higher
>> >days (ie. not breaking to new highs)?
>> >
>> >Thanks,
>> >Erik
>> >PS. Forgive me if this has been the topic of recent
>> discussion. I just moved
>> >and missed the last week of my Canslim Group emails.
>> >
>> >----- Original Message -----
>> >From: "Mike Hofmann" <sfmcanslim@hotmail.com>
>> >To: <canslim@lists.xmission.com>
>> >Sent: Thursday, January 10, 2002 1:08 PM
>> >Subject: Re: AW: [CANSLIM] DFXI
>> >
>> >
>> >> ... and still more than you really wanted to know about "kudos":
>> >>
>> >> From a really cool site called "Take Our Word For It"
>> >> (http://www.takeourword.com/):
>> >>
>> >> "Kudos is simply Greek for "praise".  It is thought to have entered
>> >English
>> >> as university slang.  By 1799 we have a back-formed verb kudize "to
>> >praise",
>> >> so kudos itself was probably in use prior to that, though
>> the first known
>> >> recorded use of kudos comes from 1831.  Thereafter we find
>> it used by the
>> >> likes of Disraeli and Darwin.  Darwin wrote, in one of his
>> letters: "Lyell
>> >> has read about half of the volume in clean sheets, and gives
>> me very great
>> >> kudos."
>> >>
>> >> Pronunciation in Britain is "cue-doss" while in America it
>> is "koo-doze".
>> >> As with many Greek words, -os indicates a singular noun.  Many people
>> >assume
>> >> kudos is the  plural form, with the singular being a kudo.  They are
>> >wrong.
>> >> Just wrong.
>> >>
>> >> There was once a computer operating system called QDOS.  Was
>> it named by a
>> >> Brit, so that it sounded like kudos, or is that simply a
>> coincidence?"
>> >>
>> >> ... and there you have it.
>> >>
>> >>
>> >> ----- Original Message -----
>> >> From: "Warren Keuffel" <wkeuffel@xmission.com>
>> >> To: <canslim@lists.xmission.com>
>> >> Sent: Wednesday, January 09, 2002 8:23 PM
>> >> Subject: Re: AW: [CANSLIM] DFXI
>> >>
>> >>
>> >> > Jumping in here for Mike -- "Kudos" basically means
>> "Congratulations".
>> >> >  However <ahem> I was curious about the etymology of the word so
>> >> > consulted my American Heritage dictionary which defines it
>> as  "Acclaim
>> >> > or prestige as a result of achievement or position." But
>> no guidance on
>> >> > etymology, darn it.  More than you wanted to know, right? <g>
>> >> >
>> >> > Warren
>> >> >
>> >> > Andreas Himmelreich wrote:
>> >> >
>> >> > >Sorry to ask Mike, what means Kudos?
>> >> > >
>> >> > >
>> >> > >>-----Ursprungliche Nachricht-----
>> >> > >>Von: Mike Gibbons [SMTP:webmaster@cwhcharts.com]
>> >> > >>Gesendet am: Wednesday, January 09, 2002 7:08 PM
>> >> > >>An: canslim@lists.xmission.com
>> >> > >>Betreff: RE: [CANSLIM] DFXI
>> >> > >>
>> >> > >>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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