RE: [CANSLIM] cup w/o handle

From: "Mike Gibbons" <mikegibbons@proactech.com>
Subject: RE: [CANSLIM] cup w/o handle
Date: Wed, 7 Aug 2002 09:39:33 -1000

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Correct, it's me that was missing something, I misread your post. Apologies.

I have no idea how a cup-without-handle should perform except I imagine that
the price/volume action should be overall positive indicating continued
accumulation.

Aloha,

Mike Gibbons
Proactive Technologies, LLC
http://www.proactech.com


- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Ann
Sent: Wednesday, August 07, 2002 9:15 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] cup w/o handle


Mike,

Sorry if I'm missing something, but aren't you talking about cup With
handle?
Or are you saying that, in the cup With handle the drop in volume occurs in
the handle, and in the cup Without handle it occurs on the right side of the
cup (at least part of the time)?


Ann

- ----- Original Message -----
From: "Mike Gibbons" <mikegibbons@proactech.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, August 07, 2002 2:35 PM
Subject: RE: [CANSLIM] cup w/o handle, churning


: Hi Ann,
:
: Perhaps the key to getting your understanding of this nailed is to analyze
: the phrase from your posting "but I had in my notes ... that the volume
: should dry up on the R-side of a Cup-without-Handle."
:
: As I understand it, the volume should be above the 50 ADV on at least a
few
: days as it comes up the right side of the cup and those days should be
: accompanied by a price increase. Once the handle has started to form, you
: now want the volume to drop below the 50 ADV on most days. In particular,
: you don't want to see above average volume accompanied by large downward
: price moves, as this is a sign of weakness. (Katherine pointed this out
: earlier).
:
: If you run the chart selector that I posted yesterday, you will see that
the
: stocks selected are given a CQ rating. This is a metric that attempts to
: quantify the qualities I mentioned in the previous paragraph. (see my
: earlier post today also).
:
: Aloha,
:
: Mike Gibbons
: Proactive Technologies, LLC
: http://www.proactech.com
:
:
: -----Original Message-----
: From: owner-canslim@lists.xmission.com
: [mailto:owner-canslim@lists.xmission.com]On Behalf Of Ann
: Sent: Wednesday, August 07, 2002 6:49 AM
: To: CANSLIM Listserv
: Subject: [CANSLIM] cup w/o handle, churning
:
:
: Thanks, Charley, Mike, Patrick, Nancy, Katherine,
:
: This is such a great list. It's amazing to be able to post questions and
get
: all these prompt and helpful replies. Thank you, all.
:
: My questions arose, when I was looking at the charts in Chapter 13 of
: HTMMIS. The Cup-without-Handle patterns are on pages 161-162. Some of the
: charts point out "strong up weeks on big volume" on the R-side of the cup,
: but I had in my notes (possibly from Investors' Corner, as I think Charley
: suggests) that the volume should dry up on the R-side of a
: Cup-without-Handle.
:
: But, as I look over all the charts (and these are charts that WON picked
: because the stocks flew after breakout), no one chart has ALL the
: characteristics you should look for. For example, in the CSCO chart (p.
: 158), the RS line was not at an all-time high before the stock took off in
: '95.
:
: I guess the moral of the story is that you have to take a preponderance of
: indicators, and not just get stuck over one of them missing. (But then,
that
: "one" could later prove to be your downfall!! Alas!).
:
: Thanks again,
:
: Ann
:
:
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