Re: [CANSLIM] "M"

From: Spencer48@aol.com
Subject: Re: [CANSLIM] "M"
Date: Mon, 25 Mar 2002 18:04:30 EST

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Ian:

     It might be what WON characterizes as a high tight flag: "Although the 
high, tight flag pattern is quite rare, it remains a valid (bullish) base 
formation. The pattern begins with a stock that about doubles over four to 
eight weeks, typically. Then it corrects no more than 10% or 20%, usually 
over a three- to five-week period. This pattern, however, is very risky and 
difficult to interpret correctly." (From IBD.com, Ask IBD).  
     To me it's too extended now to buy, however; see if the hi tight flag 
pattern holds (ie, it retraces only 10-15%).  WON says that it is rare, but 
this implies that it does occur.

jans



In a message dated 3/25/2002 12:08:07 PM Eastern Standard Time, 
ianstm@shaw.ca writes:

<< Tom:
 
 My Marketocracy fund is hitting new highs almost daily. Lots of strong
 microcaps out there. But I admit that I'm feeling lucky I loaded up on the
 QGLY breakout on the 11'th at $4. It was a classic technical breakout,
 following a decent quarter. Annoyingly, in a brain-dead moment - I failed to
 actually buy any real shares for myself.
 
 Anyone have an opinion on whether or not todays QGLY spike is just a
 daytraders plaything, or will it catch strong institutional support? >>

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