Go to Jeff Salisbury LWGate Home Page.From: "Patrick Wahl" <pjwahl@attbi.com>
Subject: Re: [CANSLIM] ASIA?
Date: Fri, 11 Jan 2002 15:15:22 -0700
Next Article (by Date): Re: [CANSLIM] ASIA? "Katherine Malm"
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Wow, that's some link. Here is a suggestion on long links, I've only used it once, but it seemed to work. http://www.makeashorterlink.com/index.php Thanks for the chart. I'll stick with my interpretation, but I'll add that the handle seems a little loose, not ideal. I would say the breakout fails around 19, a 7 to 8% drop in price from the breakout. I think the pivot point was close to 20.25 or so, I tend to discount those intraday spikes, if they occur, and use the close, so that would not take the Dec. 4 (or whichever date it was) high into account, just the close. Not sure this is a legitimate approach, just a personal quirk maybe. Anyway, I think that anyone in this stock should stick with it a bit longer. On 11 Jan 2002 at 15:14, Katherine Malm wrote: > Just an experiment, but here's a marked chart: > > http://photos.yahoo.com/bc/katherinemalm/vwp?.dir=/CANSLIM&.dnm=ASIA+011102.jpg&.src=ph&.done=http%3a//photos.yahoo.com/bc/katherinemalm/vwp%3f.dir=/CANSLIM%26.dnm=Up%2bDn%2bRatio%2bArticle%2b123101.jpg%26.src=ph > > Katherine > ----- Original Message ----- > From: Patrick Wahl > To: canslim@lists.xmission.com > Sent: Friday, January 11, 2002 2:52 PM > Subject: RE: [CANSLIM] ASIA? > > > I think we went around about this subject a few months ago, but I would put a > different interpretation on the chart. I think the 12/4 spike marked the end of the > right side of the cup, and the choppy sideways movement from that point constitutes > a handle. So buying on 12/4 was not the proper buy point. > > The more appropriate buy point would be the day in January where price gapped up > to close at about 20.90 or so. To me the formation of a handle part way up a cup > doesn't make sense. Handles form at logical sell points, and the logical sell point is > the resistance formed at the old high - the left side of the cup around end of June, > first of July. Without a sort of definite point like an old high, any consolidation point > along the way up the right side of the cup can be called a handle. > > Just my interpretation, I think during the discussion of this point a few months ago I > was in a decided minority (one, maybe). > > On 10 Jan 2002 at 23:30, Dave wrote: > > > In hindsight if I had been watching ASIA on 12/4 I probably would have > > bought. If you consider 11/27 to be the start of a short handle, the pivot > > would be 17.33 and the stock could have been bought up to 18.20. In this > > case, you would still be in the stock. > > > > As for now, it's definitely a gamble. Personally I like the month-long > > consolidation and the near record volume over the past few days, and think > > that if the Nasdaq resumes its rally, there's a good chance ASIA will go > > along for the ride. > > > > > > > -----Original Message----- > > > From: owner-canslim@lists.xmission.com > > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of esetser > > > Sent: Thursday, January 10, 2002 11:51 PM > > > To: canslim@lists.xmission.com > > > Subject: RE: [CANSLIM] ASIA? > > > > > > > > > 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 > > > >> >> > >>>> > > > >> >> > >> > > > >> >> > >>- > > > >> >> > >>-To subscribe/unsubscribe, email "majordomo@xmission.com" > > > >> >> > >>-In the email body, write "subscribe canslim" or > > > >> >> > >>-"unsubscribe canslim". Do not use quotes in your email. > > > >> >> > >> > > > >> >> > >> > > > >> >> > >> > > > >> >> > >>- > > > >> >> > >>-To subscribe/unsubscribe, email "majordomo@xmission.com" > > > >> >> > >>-In the email body, write "subscribe canslim" or > > > >> >> > >>-"unsubscribe canslim". Do not use quotes in your email. > > > >> >> > >> > > > >> >> > > > > > >> >> > >- > > > >> >> > >-To subscribe/unsubscribe, email "majordomo@xmission.com" > > > >> >> > >-In the email body, write "subscribe canslim" or > > > >> >> > >-"unsubscribe canslim". Do not use quotes in your email. > > > >> >> > > > > > >> >> > > > > > >> >> > > > > > >> >> > > > > >> >> > > > > >> >> > > > > >> >> > - > > > >> >> > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > >> >> > -In the email body, write "subscribe canslim" or > > > >> >> > -"unsubscribe canslim". Do not use quotes in your email. > > > >> >> > > > > >> >> > > > >> >> - > > > >> >> -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > >> >> -In the email body, write "subscribe canslim" or > > > >> >> -"unsubscribe canslim". Do not use quotes in your email. > > > >> > > > > >> > > > > >> >_________________________________________________________ > > > >> >Do You Yahoo!? > > > >> >Get your free @yahoo.com address at http://mail.yahoo.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. > > > >> > > > > >> > > > > >> > > > >> > > > >> - > > > >> -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > >> -In the email body, write "subscribe canslim" or > > > >> -"unsubscribe canslim". Do not use quotes in your email. > > > >> > > > > > > > > > > > >- > > > >-To subscribe/unsubscribe, email "majordomo@xmission.com" > > > >-In the email body, write "subscribe canslim" or > > > >-"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - - - -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] ASIA? "Katherine Malm"
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