Go to Jeff Salisbury LWGate Home Page.From: "Donald Wallker" <dougald@dmv.com>
Subject: Re: [CANSLIM] Charts
Date: Wed, 31 Jul 2002 07:10:21 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_000F_01C23861.55295330 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable I'm under the impression that there is one thing you can't find in a = chart. That is, the after hours trading volume. tThus it seems that the = volume for the day is cast in concrete at the closing bell. Has anyone = out there found a correlation between the volume of after hours trading = and anything that occurs the next day?=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_000F_01C23861.55295330 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 size=3D2>I'm under the impression that there is = one thing=20 you can't find in a chart. That is, the after hours trading = volume. tThus=20 it seems that the volume for the day is cast in concrete at = the=20 closing bell. Has anyone out there found a correlation between the = volume=20 of after hours trading and anything that occurs the next=20 day? </FONT></DIV> <BLOCKQUOTE dir=3Dltr=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=3DLP2715@aol.com = href=3D"mailto:LP2715@aol.com">LP2715@aol.com</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>= </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, July 30, 2002 = 10:45=20 PM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Charts</DIV> <DIV><BR></DIV><FONT face=3Darial,helvetica><FONT size=3D2>The one = thing <BR>we=20 like 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=20 level <BR>3 times and got repelled each time, and now it's back to = 99.88 it is=20 there in <BR>"black and white" for all to see, and it is either going = <BR>to=20 bust through and make a nice run or it will get repelled yet again. No = opinion, <BR>no talking heads, no guessing, nothing. It will either = breakout=20 or fail again. <BR>You cannot "alter the picture", so when you pull up = a=20 chart, it will show you <BR>exactly what has happened and on that = information=20 you can watch for the breakout. <BR>Learning how to play chart = patterns is=20 very important for us as traders, so please <BR>learn all you can = about it.=20 <BR><BR>This next point is one of the single most important items = involved=20 with making successful <BR>chart trades. If a stock is testing a = resistance level, such as in the example <BR>we used above, it will = certainly=20 help to have the "market" behind you when you <BR>are looking for the=20 breakout. Remember that in day to day life, sector strength <BR>and = overall=20 market "tone" is the most important aspect of trading. In other words = <BR>if=20 the DOW is down 275 and the NASDAQ is down 100, what are the chances = XYZ is=20 <BR>going to bust through that resistance level and run? Not much = really. On=20 the <BR>other hand if the DOW is up 175 and the NASDAQ is flying, XYZ = very=20 well could <BR>squirt through that old resistance and make a great = move=20 higher. So, paramount <BR>in trading chart patterns is to try and = align a=20 great chart with an "up day". <BR>This will greatly enhance your = chances of=20 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></BLOCKQUOTE></FONT></FONT></BODY></HTML> - ------=_NextPart_000_000F_01C23861.55295330-- - - - -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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