Go to Jeff Salisbury LWGate Home Page.From: Spencer48@aol.com
Subject: Re: [CANSLIM] PPDI
Date: Wed, 13 Mar 2002 11:16:52 EST
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Duke:
I agree that volume on up days vs volume on down days in the chart is
very nice. The volume also appears to me that you are correct: Some
relatively heavy buyer seems to be accumulating the stock. Also, it looks to
me that those who own the stock are not selling it (ie. the hands seem to be
getting stronger).
What deters me from looking at it favorably (although it deserves to be
watched for the volume reasons I cited above), is that it failed a break-out
in January (albeit from a poorly formed C&H), and the volume on that H was
low also. Conceededly, January's Handle fell much lower than a strong
stock's handle should (it fell about a over 50%), but PPDI seems to be
following the same pattern as it did in January. Only time will tell if it
will form a handle that falls less than about 35%.
I also like that it is being supported (at least for the 1st 2 wks in
Feb.) by the 200 moving average. (However, I'm unsure about the broad mkt.
[such as the Dow, S&P, and NASDAQ). How do others see the Market? IBD said
yesterday in The Big Picture that it believe we are in a bull, but it would
wait to see if NASDAQ breaks though the resistance of the 200 day MA it fell
through a couple days ago.]
jans
In a message dated 3/13/2002 9:05:42 AM Eastern Standard Time,
dukemill@tampabay.rr.com writes:
<< What I like most about PPDI: All the down days are very low and neatly
interspersed with high volume up days. Would this be a "tight" basing?
Looks to me like someone sneaking buys in. >>
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