Re: [CANSLIM] Saucer-shaped Chart?

From: Fanus <fanus13@yahoo.com>
Subject: Re: [CANSLIM] Saucer-shaped Chart?
Date: Sat, 3 Aug 2002 15:25:24 -0700 (PDT)

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Donald

Can I suggest you reread HTMMIS assuming you have read
it?  This will clear many things up for you and answer
many of the questions you have.

It stated a CWH have a depth of up to 33% and that a
saucer are a more shallow pattern.  The one you
describe here have a depth of 70% which doesn't even
qualify it as a cup.  Would you mind to explain how
you consider a 70% swing as a shallow pattern? 

Regards
- - Fanus




- --- Donald Wallker <dougald@dmv.com> wrote:
> Tom ----I don't think we are looking at the same
> chart.  Please look at a 3 year chart of NOBL with
> the following thoughts in mind..  I believe the NOBL
> Chart actually shows a much flatter pattern than a
> cup because we are looking at a 3 year chart.  A cup
> is normally viewed on a one year Chart.  So - the
> only way you can compare the charts is show a one
> year cup on the same chart as the NOBL's 3 year
> chart.  And, If this were done, it would be clear
> that NOBL has traced a Saucer-shape commencing
> during the trading week of 3/20/2000  @ $15.750 and
> ending during the trading week of 4/15/2002  @
> $15.300  (it being noted the during the latter week
> the price of the stock rose to about $15.750). In
> the course of NOBL tracing  this saucer-shape, it
> bottomed out during the week of 1/22/ 2001 @$4.50 
> In addition, it seems to me that NOBL has traced a
> handle that ended during the week of 7/1/2002 @
> $9.35. Moreover, it seems to me that since it took
> about 3 months to trace the handle, it may take
> another 3 months to reach the pivot point.  If there
> is something I've missed i'd sure like to here from
> you, or anybody else that would like to step up to
> the plate.  The thing I am most concerned about is
> using the CANSLIM rules erroneously.  Accordingly
> I'd appreciate a reasoned reply. ---Donald   
>   ----- Original Message ----- 
>   From: Tom Worley 
>   To: canslim@lists.xmission.com 
>   Sent: Saturday, August 03, 2002 4:04 PM
>   Subject: Re: [CANSLIM] Saucer-shaped Chart?
>   3 months to trace the handle
> 
>   a saucer is a much flatter pattern. NOBL went from
> over 15 to under 4, then back to over 15. Pattern
> much more of a cup than saucer. The handle that has
> formed is weak, as it has gone from over 15 to under
> 9 in three months. The good news is that this
> decline is on low volume.
> 
>   ----- Original Message ----- 
>   From: Donald Wallker 
>   To: canslim@lists.xmission.com 
>   Sent: Saturday, August 03, 2002 3:40 PM
>   Subject: [CANSLIM] Saucer-shaped Chart?
> 
> 
>    To all:   In the course of reviewing various
> automotive stocks, I was surprised to see that the 3
> year Chart of NOBL clearly shows a  completed 
> saucer and handle shaped curve.   I hope I'm not
> seeing things.  As I write this note the IBD Ratings
> for NOBL are 97, 76, A -,B and D-, and NOBL has
> increased their guidance for the remainder of  2002.
>  I would greatly appreciate  someone out there
> giving me some feedback about this Chart since it
> was only a few days ago that I read the IBD Article 
> about  saucer-shaped  Charts taking years to form. 
> If this is one of them, I guess the pivot point is
> about 2 to 3 months away months, considering the
> snails pace of this type of Chart.  Please respond
> with some constructive criticism.
> 


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