Go to Jeff Salisbury LWGate Home Page.From: "Donald Wallker" <dougald@dmv.com>
Subject: Re: [CANSLIM] Charts
Date: Wed, 31 Jul 2002 11:06:14 -0400
Next Article (by Subject): Re: [CANSLIM] DCOM - B/O rules "Donald Wallker"
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Dave - - Thank you for the feedback - As a matter of interest, I've seen =
after hours trading that has been three times the normal trading day =
volume. --Donald=20
----- Original Message -----=20
From: David Taggart=20
To: canslim@lists.xmission.com=20
Sent: Wednesday, July 31, 2002 9:07 AM
Subject: RE: [CANSLIM] Charts
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?=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
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<DIV><FONT face=3DArial size=3D2>Dave - - Thank you for the feedback - =
As a matter=20
of interest, I've seen after hours trading that has been three =
times the=20
normal trading day volume. --Donald </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=3Ddctag@mavericktrading.com=20
href=3D"mailto:dctag@mavericktrading.com">David Taggart</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> Wednesday, July 31, 2002 =
9:07=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] =
Charts</DIV>
<DIV><BR></DIV>
<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=20
even heavier the next morning so while a regular chart wont show all =
of the=20
volume it does paint the whole picture. If you do want to see =
afterhours=20
volume you can either look at a time and sales or a tick chart they =
are the=20
only tools I can think of off hand to see afterhours action after the=20
fact. During afterhours you can also use a =
Level2.</FONT></SPAN></DIV>
<DIV><SPAN class=3D164540313-31072002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D164540313-31072002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2>David 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>=20
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=20
thing you can't find in a chart. That is, the after hours trading=20
volume. tThus it seems that the volume for the day =
is cast=20
in concrete at the closing bell. Has anyone out there found a=20
correlation between the volume of after hours trading =
and anything that=20
occurs the next 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=20
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=20
<BR>we like most about charts is that there is no "opinion" =
involved. In=20
other words, <BR>what you see is what you get. If a stock has =
moved up to=20
say the $100 level <BR>3 times and got repelled each time, and now =
it's=20
back to 99.88 it is there in <BR>"black and white" for all to see, =
and it=20
is either going <BR>to bust through and make a nice run or it will =
get=20
repelled yet again. No opinion, <BR>no talking heads, no guessing, =
nothing. It will either breakout or fail again. <BR>You cannot =
"alter the=20
picture", so when you pull up a chart, it will show you =
<BR>exactly what=20
has happened and on that information you can watch for the =
breakout.=20
<BR>Learning how to play chart patterns is very important for us =
as=20
traders, so please <BR>learn all you can about it. <BR><BR>This =
next point=20
is one of the single most important items involved with making =
successful=20
<BR>chart trades. If a stock is testing a resistance level, =
such as=20
in the example <BR>we used above, it will certainly help to have =
the=20
"market" behind you when you <BR>are looking for the breakout. =
Remember=20
that in day to day life, sector strength <BR>and overall market =
"tone" is=20
the most important aspect of trading. In other words <BR>if the =
DOW is=20
down 275 and the NASDAQ is down 100, what are the chances XYZ is =
<BR>going=20
to bust through that resistance level and run? Not much really. On =
the=20
<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=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></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></FONT></FONT></BODY></HTML=
>
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