RE: [CANSLIM] LLUR vs. Late Stage Base

From: "Duke Miller" <dukemill@tampabay.rr.com>
Subject: RE: [CANSLIM] LLUR vs. Late Stage Base
Date: Tue, 16 Jul 2002 11:26:05 -0400

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Tom:

Just out of curiosity, is there an existing list of LLUR's somewhere? 

Duke

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Tom Worley
Sent: Friday, July 12, 2002 10:55 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] LLUR vs. Late Stage Base


my only comment is that I don't consider a LLUR to be quite the same as
an ascending base as described by WON. A good LLUR never really
corrects, it may flatten out briefly (a week or two or three) but
without a perceptible correction.

- ----- Original Message -----
From: <Spencer48@aol.com>
To: <canslim@lists.xmission.com>
Sent: Friday, July 12, 2002 2:56 PM
Subject: [CANSLIM] LLUR vs. Late Stage Base


Tom:

     I often had troubles in identifying LLUR's and distinguishing them
from
WON's late-stage bases.   While LLUR's look bullish and strong (and I've
read
often that "the trend is your friend"), I wasn't able to understand the
difference between them and late stage bases-since they are both
ascending bases (with LLURs being bullish and late-stage bases being
bearish [according to WON's analysis]).  To me, however, both were like
an indecipherable Elliot Wave in that invariably:  One can always
identify the wave AFTER the fact.

     So I wrote Ask WON (in investors.com) and here is his answer:

     "My question is: how do you distinguish between an ascending base
and a late stage base-they both rise from  about 3 bases. Cincinnati, OH
(AskWon answered it 7/8/02)
      WON's Answer:  The difference lies in the shape of the bases. In a
late-stage base, the stock might have already run up anywhere from as
much as 100% to 400%-500% or more. The bases it made along the way had a
minimum correction of 20%, assuming they were all cup bases. But in an
ascending base, there are three pullbacks from 10% to 20% each, and the
low point during each sell-off is higher than the previous.  Since the
pullbacks were smaller than in a normal cup base, you can count this as
one long base structure. These bases occur when a stock has much power
but is held back by a sideways-moving market. Always keep in mind that
ascending bases are rare. Also remember that if a stock breaks out of a
base, but then corrects so far down that it undercuts the bottom of its
base, you can then reset the base count."

jans

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