Re: [CANSLIM] charts and patterns questions

From: Harvey Brion <hbrion@ieee.org>
Subject: Re: [CANSLIM] charts and patterns questions
Date: Sat, 03 Aug 2002 13:13:02 -0700

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Correction, Tom.  DGO weekly charts are logrithmic.

Tom Worley wrote:

> Hi Michael,
>
> My favorite charts always were five year weekly log charts. I was always
> able to see patterns better in them. I find that linear weekly charts, such
> as DGO now has, distort the picture and are harder to read than linear daily
> charts.
>
> The pivot point should be consistent regardless of which type chart you use,
> however it can sometimes be more prominent and obvious on a daily chart. A
> daily chart can sometimes better show a weakness, such as a price spike
> without volume.  A weekly chart might hide the fact that there was no volume
> on the spike if there had been volume on other days during the week.  A
> weekly chart also hides the balance between up and down days.
>
> ----- Original Message -----
> From: <michael_niemotka@baxter.com>
> To: <canslim@lists.xmission.com>
> Sent: Friday, August 02, 2002 2:41 PM
> 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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