Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: WARNING - URGENT (WAS Re: [CANSLIM] Charts)
Date: Tue, 30 Jul 2002 23:08:07 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_00A9_01C2381D.F7A0E900 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable MEMBERS, DO NOT RESPOND - THIS IS A COMMERCIAL SOLICITATION BY A MASS = MAILER=20 - ----- Original Message -----=20 From: LP2715@aol.com=20 To: canslim@lists.xmission.com=20 Sent: Tuesday, July 30, 2002 10:45 PM Subject: [CANSLIM] Charts The one thing=20 we like most about charts is that there is no "opinion" involved. In = other words,=20 what you see is what you get. If a stock has moved up to say the $100 = level=20 3 times and got repelled each time, and now it's back to 99.88 it is = there in=20 "black and white" for all to see, and it is either going=20 to bust through and make a nice run or it will get repelled yet again. = No opinion,=20 no talking heads, no guessing, nothing. It will either breakout or fail = again.=20 You cannot "alter the picture", so when you pull up a chart, it will = show you=20 exactly what has happened and on that information you can watch for the = breakout.=20 Learning how to play chart patterns is very important for us as traders, = so please=20 learn all you can about it.=20 This next point is one of the single most important items involved with = making successful=20 chart trades. If a stock is testing a resistance level, such as in the = example=20 we used above, it will certainly help to have the "market" behind you = when you=20 are looking for the breakout. Remember that in day to day life, sector = strength=20 and overall market "tone" is the most important aspect of trading. In = other words=20 if the DOW is down 275 and the NASDAQ is down 100, what are the chances = XYZ is=20 going to bust through that resistance level and run? Not much really. On = the=20 other hand if the DOW is up 175 and the NASDAQ is flying, XYZ very well = could=20 squirt through that old resistance and make a great move higher. So, = paramount=20 in trading chart patterns is to try and align a great chart with an "up = day".=20 This will greatly enhance your chances of scoring home runs!=20 For more trading tips just send a blank e-mail to: stocks2watch@GetResponse.com - ------=_NextPart_000_00A9_01C2381D.F7A0E900 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2716.2200" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial>MEMBERS, DO NOT RESPOND - THIS IS A COMMERCIAL=20 SOLICITATION BY A MASS MAILER </FONT></DIV> <DIV> </DIV> <DIV style=3D"FONT: 10pt arial">----- Original Message -----=20 <DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20 title=3DLP2715@aol.com href=3D"mailto:LP2715@aol.com">LP2715@aol.com</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> Tuesday, July 30, 2002 10:45 PM</DIV> <DIV><B>Subject:</B> [CANSLIM] Charts</DIV></DIV> <DIV><BR></DIV><FONT face=3Darial,helvetica><FONT size=3D2>The one thing = <BR>we like=20 most about charts is that there is no "opinion" involved. In other = words,=20 <BR>what you see is what you get. If a stock has moved up to say the = $100 level=20 <BR>3 times and got repelled each time, and now it's back to 99.88 it is = there=20 in <BR>"black and white" for all to see, and it is either going <BR>to = bust=20 through and make a nice run or it will get repelled yet again. No = opinion,=20 <BR>no talking heads, no guessing, nothing. It will either breakout or = fail=20 again. <BR>You cannot "alter the picture", so when you pull up a chart, = it will=20 show you <BR>exactly what has happened and on that information you can = watch for=20 the breakout. <BR>Learning how to play chart patterns is very important = for us=20 as traders, so please <BR>learn all you can about it. <BR><BR>This next = point is=20 one of the single most important items involved with making successful = <BR>chart=20 trades. If a stock is testing a resistance level, such as in the = example=20 <BR>we used above, it will certainly help to have the "market" behind = you when=20 you <BR>are looking for the breakout. Remember that in day to day life, = sector=20 strength <BR>and overall market "tone" is the most important aspect of = trading.=20 In other words <BR>if the DOW is down 275 and the NASDAQ is down 100, = what are=20 the chances XYZ is <BR>going to bust through that resistance level and = run? Not=20 much really. On the <BR>other hand if the DOW is up 175 and the NASDAQ = is=20 flying, XYZ very well could <BR>squirt through that old resistance and = make a=20 great move higher. So, paramount <BR>in trading chart patterns is to try = and=20 align a great chart with an "up day". <BR>This will greatly enhance your = chances=20 of scoring home runs! <BR><BR> <P align=3Dcenter>For more trading tips just send a blank e-mail to:<BR> <P align=3Dleft><BR> <P align=3Dcenter><B>stocks2watch@GetResponse.com</B></P> <P></P> <P></P></FONT></FONT></BODY></HTML> - ------=_NextPart_000_00A9_01C2381D.F7A0E900-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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