Re: [CANSLIM] chart reading

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] chart reading
Date: Wed, 17 Jul 2002 22:46:55 -0400

Previous Article (by Author): Re: [CANSLIM] BLUD "Tom Worley"
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actually Kelly, it's only my employer that thinks work is more =
important, we all know there is nothing more important than CANSLIM and =
the markets

besides, I only work half days, the other 12 hours a day are mine to do =
whatever with

- ----- Original Message -----=20
From: Kelly Short=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, July 17, 2002 10:29 AM
Subject: RE: [CANSLIM] chart reading


Katherine- thank you for the explanation! And thank you for covering for =
Tom who apparently thinks work is more important- slacker!  ;-)

Kelly
  -----Original Message-----
  From: Katherine Malm [mailto:kmalm@earthlink.net]
  Sent: Wednesday, July 17, 2002 9:09 AM
  To: canslim@lists.xmission.com
  Subject: Re: [CANSLIM] chart reading


  Hi Kelly,

  I'll bet Tom is already off to work this morning, so I'll chime in =
here. Short answer to your question is "yes"....

  A double bottom looks like a "W" with the second dip to make the =
bottom a bit lower than the first. In a C&H formation, you'll often see =
the price fall back a bit as it's tracing the right side of the cup, but =
it is benign by comparison. In the examples you attached, you can see =
the C&H fall back a bit, but obviously not as severe as the red line you =
showed that would classify it as a double bottom. The biggest difference =
in the 2 formations in my mind is the entry point. On double bottoms, =
the pivot is $.10 above the middle peak of the base (center of the "W"), =
whereas in a C&H, you would wait for the final shakeout to occur in the =
handle and then look for the pivot point accordingly. That's not to say =
that a double bottom won't also have a handle, but that is somewhat =
rare.

  Katherine
    ----- Original Message -----=20
    From: Kelly Short=20
    To: canslim@lists.xmission.com=20
    Sent: Wednesday, July 17, 2002 8:55 AM
    Subject: RE: [CANSLIM] chart reading


    Tom (and group),

    Thanks for the link. I'm still a bit fuzzy on the difference between =
a CH formation and a Doublebottom formation. I took two of the charts =
from the link you provided and on the CH formation overlaid (in red =
line) a Doublebottom formation. Is the formation a CH because the second =
dip does not go below the first? Or is there some other method of =
identifying a doublebottom formation?

    Kelly

    -----Original Message-----
    From: Tom Worley [mailto:stkguru@bellsouth.net]
    Sent: Wednesday, July 17, 2002 6:32 AM
    To: CANSLIM
    Subject: [CANSLIM] chart reading


    nice, quick refresher

    http://www.amateur-investors.com/Chart_Patterns_Article.htm

    only one I caught was FSTW

    Tom Worley
    stkguru@bellsouth.net
    AIM: TexWorley



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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial>actually Kelly, it's only my employer that =
thinks work is=20
more important, we all know there is nothing more important than CANSLIM =
and the=20
markets</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial>besides, I only work half days, the other 12 =
hours a day=20
are mine to do whatever with</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3Dkelly.short@neoris.com =
href=3D"mailto:kelly.short@neoris.com">Kelly=20
Short</A> </DIV>
<DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
 </DIV>
<DIV><B>Sent:</B> Wednesday, July 17, 2002 10:29 AM</DIV>
<DIV><B>Subject:</B> RE: [CANSLIM] chart reading</DIV></DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D116582814-17072002><FONT face=3DArial color=3D#0000ff =

size=3D2>Katherine- thank you for the explanation! And thank you for =
covering for=20
Tom who apparently thinks work is more important- slacker!&nbsp;=20
;-)</FONT></SPAN></DIV>
<DIV><SPAN class=3D116582814-17072002><FONT face=3DArial color=3D#0000ff =

size=3D2></FONT></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D116582814-17072002><FONT face=3DArial color=3D#0000ff =

size=3D2>Kelly</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
  <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
  size=3D2>-----Original Message-----<BR><B>From:</B> Katherine Malm=20
  [mailto:kmalm@earthlink.net]<BR><B>Sent:</B> Wednesday, July 17, 2002 =
9:09=20
  AM<BR><B>To:</B> <A=20
  =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
<BR><B>Subject:</B>=20
  Re: [CANSLIM] chart reading<BR><BR></FONT></DIV>
  <DIV>Hi Kelly,</DIV>
  <DIV>&nbsp;</DIV>
  <DIV>I'll bet Tom is already off to work this morning, so I'll chime =
in here.=20
  Short answer to your question is "yes"....</DIV>
  <DIV>&nbsp;</DIV>
  <DIV>A&nbsp;double bottom looks like a "W" with the second dip to make =
the=20
  bottom a bit lower than the first. In a C&amp;H formation, you'll =
often see=20
  the price fall back a bit as it's tracing the right side of the cup, =
but it is=20
  benign by comparison. In the examples you attached, you can see the =
C&amp;H=20
  fall back a bit, but obviously not as severe as the red line you =
showed that=20
  would classify it as a double bottom. The biggest difference in the 2=20
  formations in my mind is the entry point. On double bottoms, the pivot =
is $.10=20
  above the middle peak of the base (center of the "W"), whereas in a =
C&amp;H,=20
  you would wait for the final shakeout to occur in the handle and then =
look for=20
  the pivot point accordingly. That's not to say that a double bottom =
won't also=20
  have a handle, but that is somewhat rare.</DIV>
  <DIV>&nbsp;</DIV>
  <DIV>Katherine</DIV>
  <BLOCKQUOTE=20
  style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
    <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
    <DIV=20
    style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
    <A title=3Dkelly.short@neoris.com =
href=3D"mailto:kelly.short@neoris.com">Kelly=20
    Short</A> </DIV>
    <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
    =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
    </DIV>
    <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, July 17, =
2002 8:55=20
    AM</DIV>
    <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] chart=20
    reading</DIV>
    <DIV><BR></DIV>Tom (and group),<BR><BR>Thanks for the link. I'm =
still a bit=20
    fuzzy on the difference between a CH formation and a Doublebottom =
formation.=20
    I took two of the charts from the link you provided and on the CH =
formation=20
    overlaid (in red line) a Doublebottom formation. Is the formation a =
CH=20
    because the second dip does not go below the first? Or is there some =
other=20
    method of identifying a doublebottom=20
    formation?<BR><BR>Kelly<BR><BR>-----Original Message-----<BR>From: =
Tom=20
    Worley [mailto:stkguru@bellsouth.net]<BR>Sent: Wednesday, July 17, =
2002 6:32=20
    AM<BR>To: CANSLIM<BR>Subject: [CANSLIM] chart =
reading<BR><BR><BR>nice, quick=20
    refresher<BR><BR><A=20
    =
href=3D"http://www.amateur-investors.com/Chart_Patterns_Article.htm">http=
://www.amateur-investors.com/Chart_Patterns_Article.htm</A><BR><BR>only=20
    one I caught was FSTW<BR><BR>Tom Worley<BR><A=20
    =
href=3D"mailto:stkguru@bellsouth.net">stkguru@bellsouth.net</A><BR>AIM:=20
    TexWorley<BR><BR><BR><BR>-<BR>-To subscribe/unsubscribe, email "<A=20
    =
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
 the=20
    email body, write "subscribe canslim" or<BR>-"unsubscribe =
canslim".&nbsp; Do=20
    not use quotes in your=20
    =
email.<BR><BR>___________________________________________________________=
_________________<BR>For=20
    your protection, this e-mail message has been scanned for =
viruses.<BR>Visit=20
    us at <A=20
  =
href=3D"http://www.neoris.com/">http://www.neoris.com/</A><BR></BLOCKQUOT=
E>
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  For your protection, this e-mail message has been scanned for viruses. =

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