Go to Jeff Salisbury LWGate Home Page.From: Spencer48@aol.com
Subject: Re: [CANSLIM] BLUD
Date: Wed, 17 Jul 2002 13:39:14 EDT
Next Article (by Subject): Re: [CANSLIM] chart reading "zillagirl"
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Mike:
The weekly has a long C&H (I am looking at it on DGO), but since the=20
nadir fell to around 2=BD, the bottom of the cup probably fell more than 50%=
(I=20
believe this is WON's threshold-even in a weak market). =20
However, even though I can't see it on my screen, it is possible that=20
the weekly formed a long W-formation, with the Dec/00-Sept/01 area being the=
=20
2nd trough (notice, as confirmation, that volume dried up in this area). =20
According to WON's analysis of W-formations, BLUD (if it were a W) should=20
have been bought once it exceeded the middle leg zenith. However, to me, it=
=20
looks like it made a C&H-type BO on 3/15/02.
Also, the right leg up, to me, looks like an LLUR (as Tom defines one).=
=20
The retracements have been few, and the largest one was around 20%. I=20
believe, according to how I understand Tom's evaluations of an LLUR, Tom=20
wouldn't buy this LLUR now until it retraces to its 50 DMA, which is a littl=
e=20
below 20 (and perhaps, also, he wouldn't buy until the market turns-around).=
=20
However, this should be observed: BLUD has been strong-even while the=20
market has been weak. And this, WON says, is the kind of stock one looks fo=
r=20
when he/she is analyzing stocks during this quiet time of the Bear.
jans
=20
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