Re: [CANSLIM] charts and patterns questions

From: michael_niemotka@baxter.com
Subject: Re: [CANSLIM] charts and patterns questions
Date: Fri, 2 Aug 2002 14:26:37 -0500

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That also makes me think about looking at the charts even closer. Sometime
on the weekly charts, I have spotted what I thought looked like a nice cwh,
but when I started to check the amount it corrected in the "cup" area, I
notice that it is only 10-15%......isn't is supposed to be more like
25-35%?  Would that make it more like a flat base, since it only has a
10-15% change?

What is the criteria for a saucer with a handle?



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


                                                                                                                            
                    "Bill Triffet"                                                                                          
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                    08/02/2002 02:18 PM                                                                                     
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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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