Go to Jeff Salisbury LWGate Home Page.From: "David Taggart" <dctag@mavericktrading.com>
Subject: RE: [CANSLIM] Charts
Date: Wed, 31 Jul 2002 07:07:55 -0600
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Not really if a stock sells off heavily in after hours it always sells off
even heavier the next morning so while a regular chart wont show all of the
volume it does paint the whole picture. If you do want to see afterhours
volume you can either look at a time and sales or a tick chart they are the
only tools I can think of off hand to see afterhours action after the fact.
During afterhours you can also use a Level2.
David Taggart
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Donald Wallker
Sent: Wednesday, July 31, 2002 5:10 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Charts
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?
----- Original Message -----
From: LP2715@aol.com
To: canslim@lists.xmission.com
Sent: Tuesday, July 30, 2002 10:45 PM
Subject: [CANSLIM] Charts
The one thing
we like most about charts is that there is no "opinion" involved. In
other words,
what you see is what you get. If a stock has moved up to say the $100
level
3 times and got repelled each time, and now it's back to 99.88 it is
there in
"black and white" for all to see, and it is either going
to bust through and make a nice run or it will get repelled yet again.
No opinion,
no talking heads, no guessing, nothing. It will either breakout or fail
again.
You cannot "alter the picture", so when you pull up a chart, it will
show you
exactly what has happened and on that information you can watch for the
breakout.
Learning how to play chart patterns is very important for us as traders,
so please
learn all you can about it.
This next point is one of the single most important items involved with
making successful
chart trades. If a stock is testing a resistance level, such as in the
example
we used above, it will certainly help to have the "market" behind you
when you
are looking for the breakout. Remember that in day to day life, sector
strength
and overall market "tone" is the most important aspect of trading. In
other words
if the DOW is down 275 and the NASDAQ is down 100, what are the chances
XYZ is
going to bust through that resistance level and run? Not much really. On
the
other hand if the DOW is up 175 and the NASDAQ is flying, XYZ very well
could
squirt through that old resistance and make a great move higher. So,
paramount
in trading chart patterns is to try and align a great chart with an "up
day".
This will greatly enhance your chances of scoring home runs!
For more trading tips just send a blank e-mail to:
stocks2watch@GetResponse.com
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<DIV><SPAN class=3D164540313-31072002><FONT face=3DArial color=3D#0000ff =
size=3D2>Not=20
really if a stock sells off heavily in after hours it always sells =
off even=20
heavier the next morning so while a regular chart wont show all of the =
volume it=20
does paint the whole picture. If you do want to see afterhours =
volume you=20
can either look at a time and sales or a tick chart they are the only =
tools I=20
can think of off hand to see afterhours action after the fact. =
During=20
afterhours you can also use a Level2.</FONT></SPAN></DIV>
<DIV><SPAN class=3D164540313-31072002><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D164540313-31072002><FONT face=3DArial color=3D#0000ff =
size=3D2>David=20
Taggart</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>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Donald=20
Wallker<BR><B>Sent:</B> Wednesday, July 31, 2002 5:10 AM<BR><B>To:</B> =
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM]=20
Charts<BR><BR></FONT></DIV>
<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. =20
tThus it seems that the volume for the day is cast in =
concrete at=20
the closing bell. Has anyone out there found a correlation =
between the=20
volume 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>=20
</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> 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=20
words, <BR>what you see is what you get. If a stock has moved up to =
say the=20
$100 level <BR>3 times and got repelled each time, and now it's back =
to=20
99.88 it is there in <BR>"black and white" for all to see, and it is =
either=20
going <BR>to bust through and make a nice run or it will get =
repelled yet=20
again. No opinion, <BR>no talking heads, no guessing, nothing. It =
will=20
either breakout or fail again. <BR>You cannot "alter the picture", =
so when=20
you pull up a chart, it will show you <BR>exactly what has happened =
and on=20
that information you can watch for the breakout. <BR>Learning how to =
play=20
chart patterns is very important for us as traders, so please =
<BR>learn all=20
you can about it. <BR><BR>This next point is one of the single most=20
important items involved with making successful <BR>chart trades. If =
a stock=20
is testing a resistance level, such as in the example <BR>we =
used=20
above, it will certainly help to have the "market" behind you when =
you=20
<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=20
trading. In other words <BR>if the DOW is down 275 and the NASDAQ is =
down=20
100, what are the chances XYZ is <BR>going to bust through that =
resistance=20
level and run? Not much really. On the <BR>other hand if the DOW is =
up 175=20
and the NASDAQ is flying, XYZ very well could <BR>squirt through =
that old=20
resistance and make a great move higher. So, paramount <BR>in =
trading chart=20
patterns is to try and align a great chart with an "up day". =
<BR>This will=20
greatly enhance your chances 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></BLOCKQUOTE></BLOCKQUOTE></FONT></FONT></BODY></HTML>
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Next Article (by Author): Re: [CANSLIM] DCOM - B/O rules Jack Tencza
Previous Article (by Author): Re: [CANSLIM] Charts -Do complain to the address "Bill Triffet"
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