Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] Sometimes even the Pros don't know
Date: Sat, 3 Aug 2002 10:49:35 -0500
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Hi John,
It seems the whole concept of the "Lazy W" has gotten way beyond my =
intent....so let me backtrack.=20
My original post and the comment I was making to begin with was simply =
"sometimes even the pros don't know." That is, I thought it amusing that =
Tim Truebenbach and the IBD could not identify the pattern and emailed =
Tim with the same sentiment. (He also got a kick out of the silly =
pattern.) My labeling it a Lazy W was only meant as an observation of =
what it looked like to me and a tongue-in-cheek naming of a "pattern" =
that wasn't really a pattern. It was never my intention to read anything =
into it. Somehow, in discussing the technical aspects of what *was* =
going on with SIE, the offhand comment became something it was not.
In summary:
(1) SIE's base count was reset when the stock dropped well below the =
lows of the last base in it's advance in late '98.
(2) SIE broke out of a new 1st base in August '01.
(3) I have no idea what pattern it formed recently, but it did seem to =
defy odds and move out on volume, only to fail later.
(4) I never intended to read anything into what was happening with it, =
nor to devise a "new" pattern for the history books [though if Lazy W =
shows up in Bulkowski's next book, I'm claiming credit! :))]. I'm as =
party-line CANSLIM as they come and would be the last one to start =
making new rules to follow.
(5) Whatever "pattern" SIE was tracing, it failed when it fell back into =
its consolidation on Friday. That's shouldn't be at all surprising, =
given that so few stocks are setting up and breaking out in conjunction =
with the recent FTD. The whole point of Tim's view of SIE in his article =
was that the few stocks that are moving right now have distorted =
patterns, and that increases the risk.
(6) It's never a good idea in my book to jump on the first couple of =
stocks that breakout in a fresh advance. I prefer to monitor them and =
see how they behave and then look for additional stocks to breakout of =
sound basing patterns and move up before I bet the farm. It's a =
conservative approach, but one that matches risk/reward in a sensible =
manner.
(7) Right now, after recently clearing the deck, I've got 1 short and 2 =
long probes. That usually happens only when the market is groping for =
direction. As it becomes more apparent, I press in the direction of, as =
Dave Landry calls it, "the big blue arrow" (metaphor for major market =
trend).
Katherine
----- Original Message -----=20
From: John Calkins=20
To: canslim@lists.xmission.com=20
Sent: Saturday, August 03, 2002 9:30 AM
Subject: Re: [CANSLIM] Sometimes even the Pros don't know
Scott,
I would have to agree with your failing base on base pattern.
Katherine, would it be better to consider staying with the classic =
double bottom than trying to interpret a new lazy W pattern? Doesn't =
this relate to how WON developed the CWH? Didn't He, Livermore and =
others already explore these regions and shouldn't we learn from them, =
or do we always question their results. I realize that we need to learn =
from each other how to interpret these patterns. It's like trying to =
explore too far off the beaten path, like a child getting too close to =
the crumbling edge or using a 10% stop rule instead of an 8%. Is a lazy =
W too close to the crumbling edge especially in this market? We are =
told that these patterns are useful in a bull market. The bear pops up =
on Thursday and Friday, then a pattern seems to fail and again reminds =
us to get back on the path.. Again and again, the closer I stay to the =
classic patterns, the less I am inclined to get into this market. =
CANSLIM and WON's Technical's seem to be working for me by keeping me on =
the sidelines until this market speaks to me in a clearer voice.
John=20
----- Original Message -----=20
From: Scott Gettis=20
To: canslim@lists.xmission.com=20
Sent: Friday, August 02, 2002 9:27 AM
Subject: RE: [CANSLIM] Sometimes even the Pros don't know
here's my interpretation.
If we have to make up a name for the pattern that sie is forming, =
maybe it is not really a sound base. I agree that sie at this moment =
seems to be a leader in this market, but the base that it formed is too =
deep to be considered a flat base, and it does not have the classic =
characteristics of a double bottom. To me it looks most like a base on =
base structure; with the first part from 4/30-6/19 - and the second part =
the most recent base - which was rather short. Hey the pattern may =
work, in which case ill add the lazy w to my list of charts to look for. =
But, in this market where breakouts are still not working why try to =
force it with a price structure that can be labeled suspect at best.
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Katherine Malm
Sent: Friday, August 02, 2002 8:13 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Sometimes even the Pros don't know
Hi Donald,
My comments below were to show how the base count restarts, rather =
than looking back as far as 4 years ago at the chart and concluding that =
it is a 4 year C&H. That means that the stock broke out of a fresh 1st =
base August last year, and that the more recent action, for lack of a =
better term "Lazy W" would be considered on its own, rather than as a =
part of the 4 year pattern. That makes it a 2nd stage base.
More specifically, the recent base doesn't meet the criteria for =
either a C&H or the shallower Saucer & Handle because of that odd price =
peak in the center of the formation. More than anything, take a look at =
the volume pattern as the center of the LazyW forms, it's very high. =
Normally in a C&H or S&H, the volume dries up at the bottom of the cup. =
This is exactly the opposite, showing that SIE was trying desperately to =
breakout, but was knocked back into its consolidation on high volume.
Katherine
----- Original Message -----=20
From: Donald Wallker=20
To: canslim@lists.xmission.com=20
Sent: Friday, August 02, 2002 9:14 AM
Subject: Re: [CANSLIM] Sometimes even the Pros don't know
Katherine =3D =3D I didn't read your note about SIE before =
sending you the one about the IBD Article leading me to conclude that =
SIE has a Saucer-shaped Chart. And, I'm having dificulty trying to =
harmonize the IBD Article and your remarks. If you can give me a little =
help here I'd surely appreciate it.=3D=3D=3DDonald=20
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Friday, August 02, 2002 9:36 AM
Subject: Re: [CANSLIM] Sometimes even the Pros don't know
Hi Donald,
I think you've actually hit on a key element of chart reading =
in CANSLIM. That is, when there is a deep correction that undercuts the =
low of the last base, the base count is reset and you essentially "start =
fresh" with the chart. It's my understanding that this is why WON looks =
at formations as they form over the previous 52 wks. In the case of SIE, =
the base count was reset in '99 when the downside move passed below the =
last base formed in '98.
http://WallStreet-LLC.com/canslim/SIE10yrs080202.jpg=20
By August '01, you would then be looking at SIE to set up a =
brand new 1st stage base as it nears its 52 wk high, in this case a =
double bottom:
http://WallStreet-LLC.com/canslim/SIE080101.jpg
Important, as it allows you to take advantage of renewed =
growth in an industry and/or company. (Assuming this is not a cyclical =
move)
Katherine
----- Original Message -----=20
From: Donald Wallker=20
To: canslim@lists.xmission.com=20
Sent: Friday, August 02, 2002 3:48 AM
Subject: Re: [CANSLIM] Sometimes even the Pros don't know
Katherine ---Maybe (tongue in cheek) SIEt hasn't broken out =
yet and is still working on the cup that it started back in March =
1998.---Donald=20
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Thursday, August 01, 2002 7:24 PM
Subject: [CANSLIM] Sometimes even the Pros don't know
Hi All,
Got a real kick out of this comment from Tim Truebenbach, =
a real pro and contributor to TradingMarkets.com:
"Sierra Health (SIE) hails from the leading HMO group. The =
stock has stellar fundamentals, but to this day, no one I have spoken =
with -- from fellow investors to people at IBD -- have been able to =
describe what kind of base it has produced. It has broken out of this =
"unknown" base and continues to push higher for the time being."
I've dubbed this a "Lazy W"...
See it at http://WallStreet-LLC.com/canslim/LazyW.jpg=20
Katherine
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<DIV>Hi John,</DIV>
<DIV> </DIV>
<DIV>It seems the whole concept of the "Lazy W" has gotten way beyond my =
intent....so let me backtrack. </DIV>
<DIV> </DIV>
<DIV>My original post and the comment I was making to begin with was =
simply=20
"sometimes even the pros don't know." That is, I thought it amusing that =
Tim=20
Truebenbach and the IBD could not identify the pattern and emailed Tim =
with the=20
same sentiment. (He also got a kick out of the silly pattern.) My =
labeling=20
it a Lazy W was only meant as an observation of what it looked like to =
me and a=20
tongue-in-cheek naming of a "pattern" that wasn't really a pattern. It =
was never=20
my intention to read anything into it. Somehow, in discussing the =
technical=20
aspects of what *was* going on with SIE, the offhand comment became =
something it=20
was not.</DIV>
<DIV> </DIV>
<DIV>In summary:</DIV>
<DIV> </DIV>
<DIV>(1) SIE's base count was reset when the stock dropped well below =
the lows=20
of the last base in it's advance in late '98.</DIV>
<DIV>(2) SIE broke out of a new 1st base in August '01.</DIV>
<DIV>(3) I have no idea what pattern it formed recently, but it did seem =
to defy=20
odds and move out on volume, only to fail later.</DIV>
<DIV>(4) I never intended to read anything into what was happening with =
it, nor=20
to devise a "new" pattern for the history books [though if Lazy W shows =
up in=20
Bulkowski's next book, I'm claiming credit! :))]. I'm as party-line =
CANSLIM as=20
they come and would be the last one to start making new rules to =
follow.</DIV>
<DIV>(5) Whatever "pattern" SIE was tracing, it failed when it fell back =
into=20
its consolidation on Friday. That's shouldn't be at all surprising, =
given that=20
so few stocks are setting up and breaking out in conjunction with the =
recent=20
FTD. The whole point of Tim's view of SIE in his article was that the =
few stocks=20
that are moving right now have distorted patterns, and that increases =
the=20
risk.</DIV>
<DIV>(6) It's never a good idea in my book to jump on the first couple =
of stocks=20
that breakout in a fresh advance. I prefer to monitor them and see how =
they=20
behave and then look for additional stocks to breakout of sound basing =
patterns=20
and move up before I bet the farm. It's a conservative approach, but one =
that=20
matches risk/reward in a sensible manner.</DIV>
<DIV>(7) Right now, after recently clearing the deck, I've got 1 short =
and 2=20
long probes. That usually happens only when the market is groping for =
direction.=20
As it becomes more apparent, I press in the direction of, as Dave Landry =
calls=20
it, "the big blue arrow" (metaphor for major market trend).</DIV>
<DIV> </DIV>
<DIV>Katherine</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=3Djcalkins@olypen.com =
href=3D"mailto:jcalkins@olypen.com">John=20
Calkins</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> Saturday, August 03, 2002 =
9:30=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Sometimes even the=20
Pros don't know</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Scott,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I would have to agree with your =
failing base on=20
base pattern.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Katherine, would it be better to =
consider staying=20
with the classic double bottom than trying to interpret a new lazy W=20
pattern? Doesn't this relate to how WON developed the CWH? =
Didn't=20
He, Livermore and others already explore these regions and shouldn't =
we learn=20
from them, or do we always question their results. I realize =
that we=20
need to learn from each other how to interpret these patterns. =
It's like=20
trying to explore too far off the beaten path, like a child =
getting too=20
close to the crumbling edge or using a 10% stop rule instead of an =
8%. =20
Is a lazy W too close to the crumbling edge especially in this=20
market? We are told that these patterns are useful in a bull=20
market. The bear pops up on Thursday and Friday, then a =
pattern=20
seems to fail and again reminds us to get back on the path.. =
Again and=20
again, the closer I stay to the classic patterns, the less I am =
inclined to=20
get into this market. CANSLIM and WON's Technical's seem to =
be working for me by keeping me on the sidelines until this =
market speaks=20
to me in a clearer voice.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>John </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2></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=3Dsgettis@ucla.edu href=3D"mailto:sgettis@ucla.edu">Scott =
Gettis</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> Friday, August 02, 2002 =
9:27=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] =
Sometimes even=20
the Pros don't know</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D019011616-02082002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2>here's my interpretation.</FONT></SPAN></DIV>
<DIV><SPAN class=3D019011616-02082002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D019011616-02082002><FONT face=3DArial =
color=3D#0000ff size=3D2>If=20
we have to make up a name for the pattern that sie is forming, maybe =
it is=20
not really a sound base. I agree that sie at this moment seems =
to be a=20
leader in this market, but the base that it formed is too =
deep to=20
be considered a flat base, and it does not have the classic =
characteristics=20
of a double bottom. To me it looks most like a base on base =
structure;=20
with the first part from 4/30-6/19 - and the second part the most =
recent=20
base - which was rather short. Hey the pattern may work, in =
which case=20
ill add the lazy w to my list of charts to look for. But, in =
this=20
market where breakouts are still not working why try to force =
it with a=20
price structure that can be labeled suspect at =
best.</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>Katherine=20
Malm<BR><B>Sent:</B> Friday, August 02, 2002 8:13 AM<BR><B>To:</B> =
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM] =
Sometimes even=20
the Pros don't know<BR><BR></FONT></DIV>
<DIV>Hi Donald,</DIV>
<DIV> </DIV>
<DIV>My comments below were to show how the base count restarts, =
rather=20
than looking back as far as 4 years ago at the chart and =
concluding that=20
it is a 4 year C&H. That means that the stock broke out of a =
fresh 1st=20
base August last year, and that the more recent action, =
for lack=20
of a better term "Lazy W" would be considered on its own, rather =
than as a=20
part of the 4 year pattern. That makes it a 2nd stage base.</DIV>
<DIV> </DIV>
<DIV>More specifically, the recent base doesn't meet the criteria =
for=20
either a C&H or the shallower Saucer & Handle because of =
that odd=20
price peak in the center of the formation. More than anything, =
take a look=20
at the volume pattern as the center of the LazyW forms, it's very =
high.=20
Normally in a C&H or S&H, the volume dries up at the =
bottom of the=20
cup. This is exactly the opposite, showing that SIE was trying =
desperately=20
to breakout, but was knocked back into its consolidation on high=20
volume.</DIV>
<DIV> </DIV>
<DIV>Katherine</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=3Ddougald@dmv.com =
href=3D"mailto:dougald@dmv.com">Donald=20
Wallker</A> </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> Friday, August 02, =
2002 9:14=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Sometimes=20
even the Pros don't know</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Katherine =3D =3D I =
didn't read your note=20
about SIE before sending you the one about the IBD Article =
leading me to=20
conclude that SIE has a Saucer-shaped Chart. And, =
I'm =20
having dificulty trying to harmonize the IBD Article and your=20
remarks. If you can give me a little help here I'd surely=20
appreciate it.=3D=3D=3DDonald </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=3Dkmalm@earthlink.net=20
href=3D"mailto:kmalm@earthlink.net">Katherine Malm</A> </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> Friday, August =
02, 2002=20
9:36 AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] =
Sometimes=20
even the Pros don't know</DIV>
<DIV><BR></DIV>
<DIV>Hi Donald,</DIV>
<DIV> </DIV>
<DIV>I think you've actually hit on a key element of chart =
reading in=20
CANSLIM. That is, when there is a deep correction that =
undercuts the=20
low of the last base, the base count is reset and you =
essentially=20
"start fresh" with the chart. It's my understanding that this =
is why=20
WON looks at formations as they form over the previous 52 wks. =
In the=20
case of SIE, the base count was reset in '99 when the downside =
move=20
passed below the last base formed in '98.</DIV>
<DIV> </DIV>
<DIV><A=20
=
href=3D"http://WallStreet-LLC.com/canslim/SIE10yrs080202.jpg">http://Wall=
Street-LLC.com/canslim/SIE10yrs080202.jpg</A>=20
</DIV>
<DIV> </DIV>
<DIV>By August '01, you would then be looking at SIE to set up =
a brand=20
new 1st stage base as it nears its 52 wk high, in this case a =
double=20
bottom:</DIV>
<DIV> </DIV>
<DIV><A=20
=
href=3D"http://WallStreet-LLC.com/canslim/SIE080101.jpg">http://WallStree=
t-LLC.com/canslim/SIE080101.jpg</A></DIV>
<DIV> </DIV>
<DIV>Important, as it allows you to take advantage of renewed =
growth=20
in an industry and/or company. (Assuming this is not a =
cyclical=20
move)</DIV>
<DIV> </DIV>
<DIV>Katherine</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=3Ddougald@dmv.com =
href=3D"mailto:dougald@dmv.com">Donald=20
Wallker</A> </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> Friday, August =
02, 2002=20
3:48 AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: =
[CANSLIM]=20
Sometimes even the Pros don't know</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>Katherine ---Maybe (tongue =
in cheek)=20
SIEt hasn't broken out yet and is still working on the cup =
that it=20
started back in March 1998.---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=3Dkmalm@earthlink.net=20
href=3D"mailto:kmalm@earthlink.net">Katherine Malm</A> =
</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> Thursday, =
August 01,=20
2002 7:24 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] =
Sometimes=20
even the Pros don't know</DIV>
<DIV><BR></DIV>
<DIV>Hi All,</DIV>
<DIV> </DIV>
<DIV>Got a real kick out of this comment from Tim =
Truebenbach, a=20
real pro and contributor to TradingMarkets.com:</DIV>
<DIV> </DIV>
<DIV>
<P><FONT face=3D"arial, helvetica" size=3D2><FONT=20
color=3D#0000ff><B>"Sierra Health</B></FONT> (<A=20
=
href=3D"http://www.tradingmarkets.com/.site/stocks/commentary/ttage/goto~=
www.tradingmarkets.com~redirect.cfm?symbol=3DSIE">SIE</A>)=20
hails from the leading HMO group. The stock has stellar=20
fundamentals, but to this day, no one I have spoken with =
- -- from=20
fellow investors to people at <I>IBD</I> -- have been able =
to=20
describe what kind of base it has produced. It has broken =
out of=20
this "unknown" base and continues to push higher for the =
time=20
being."</FONT></P>
<P> </P>
<P>I've dubbed this a "Lazy W"...</P>
<P>See it at <A=20
=
href=3D"http://WallStreet-LLC.com/canslim/LazyW.jpg">http://WallStreet-LL=
C.com/canslim/LazyW.jpg</A>=20
</P>
<P> </P>
<P>Katherine</P>
=
<P> </P></DIV></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></=
BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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