Re: [CANSLIM] TOM.....ERES

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] TOM.....ERES
Date: Sat, 27 Apr 2002 08:49:19 -0400

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Bill, what I saw on the chart was a nearly perfect flat line base that was
encountering resistance solidly for nine weeks right at $16.00. Unlike the
cup and handle formation where the pivot tends to be the high point in the
handle, I tend to look at simple flat line bases in terms of resistance, and
volume. Thus, $16 was the pivot I considered, sorry I didn't explain my
reasoning at the time.

With small and micro cap stocks, and especially ones thinly traded (ADV on
this just over 30K), I throw out the occasional high volume up or down in
price. I also tend to ignore the highs set right after an advance, and just
concentrate on the following weeks as it consolidates its gains and builds a
new base. That is why I see the critical base right at $16, and a volume
driven move past that as significant.

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley
- ----- Original Message -----
From: "William King" <wk11@adelphia.net>
To: <canslim@lists.xmission.com>
Sent: Saturday, April 27, 2002 8:33 AM
Subject: Re: [CANSLIM] TOM.....ERES


Tom,
In your comment on ERES, you said it was "now extended 10% past a buy
point". Looking at the chart, the buy point(pivot point) was 17.10, the
close at the time of your comment was 17.70---not 10% higher? I'm not nit
picking, just trying to understand.

Thanks,
Bill King
- ----- Original Message -----
From: "Tom Worley" <stkguru@bellsouth.net>
To: <canslim@lists.xmission.com>
Sent: Friday, April 26, 2002 8:53 AM
Subject: Re: [CANSLIM] TOM.....ERES


> doesn't look like a dog to me, nice flat line base on the chart. earnings
> seem inconsistent in terms of profit margins. now extended 10%, so past a
> buy point, but if you are in, looks like it could make you some money.
>
> Tom Worley
> stkguru@bellsouth.net
> AIM: TexWorley
> ----- Original Message -----
> From: <AlpineTap34@aol.com>
> To: <canslim@lists.xmission.com>
> Sent: Friday, April 26, 2002 1:14 AM
> Subject: [CANSLIM] TOM.....ERES
>
>
> Took a stab at this one today. At this point in my CANSLIM career, I admit
> I'm still relying more on the charts than the fundies. Hopefully, I'll be
> able to implement that better into my decision making in the near future.
> Anway, I was just curious if you followed this one.....or, had any
thoughts.
> Trying to figure out if I've purchased a real dog. LOL. Thanks for the
help.
>
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