Re: [CANSLIM] charts and patterns questions

From: "Bill Triffet" <btriffet@earthlink.net>
Subject: Re: [CANSLIM] charts and patterns questions
Date: Fri, 2 Aug 2002 12:18:23 -0700

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Myself, I use weekly initially for the pattern identification as it smoothes
out the bumps. I use the daily for plotting the pivot and sell points as one
needs the detail. This also brings up the importance of also using
logarithmic charts to put the advances and declines in true perspective.

- -Bill
- ----- Original Message -----
From: <michael_niemotka@baxter.com>
To: <canslim@lists.xmission.com>
Sent: Friday, August 02, 2002 11:41 AM
Subject: [CANSLIM] charts and patterns questions


> All,
>
> When using charts to spot patterns, does it matter much if you use daily
or
> weekly charts?  I notice that in the stocks in the news section, they use
> weekly charts, and many times I will circle those that look like cwh
> patterns for later study. But sometime, when I look at a daily chart, the
> pattern seems to go away, or is much harder to spot.
>
> Also, is the pivot point the pivot point, regardless of which chart you
> look at?  What I mean is, if a stock has a pivot on the weekly chart of
say
> $15.10, does it have to have a breakout for the week of over $15.10 on
> higher than ave weekly volume, or is it still a valid b/o if it rises
above
> $15.10 on any given day with higher than ave daily vol?
>
> Thanks for all the help, and have a great weekend
>
> Mike
>
> Mike Niemotka , PE
> Sr. Principal Engineer
> Baxter Healthcare Corporation
> Route 120 & Wilson Road
> Round Lake, IL 60073
> Tel (847) 270-4075
> Fax (847) 270-4525
> michael_niemotka@baxter.com
>
>
>
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