Re: [CANSLIM] cup w/o handle

From: "Ann" <annholly@attbi.com>
Subject: Re: [CANSLIM] cup w/o handle
Date: Wed, 7 Aug 2002 17:52:26 -0400
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Bill, Mike, Charlie,

Thanks.
Ann
- ----- Original Message -----
From: "Bill Triffet" <btriffet@earthlink.net>
To: <canslim@lists.xmission.com>
Sent: Wednesday, August 07, 2002 3:30 PM
Subject: Re: [CANSLIM] cup w/o handle


: Ann,
:
: I think the whole issue with the cup w/o a handle comes to this. Have all
: the sellers finished selling? The problem with no handle is the chance of
a
: big pullback as the previous shareholder get out for good after sitting
: through that darned cup. With a handle of lower volume, there is less risk
: of a pullback. Most of the sellers are done IMO.
:
: So, I'm no expert at this but, I might want to see the volume dryup a bit
as
: it climbs the right side near the top - then increased volume as it breaks
: to new ground. Add to that, the fundies had better be perfect for added
: insurance against the lack of a handle.
:
: Note: I find the no handle issue fits with the double bottom charts better
: as the stock's had ample time to shake out the sellers
:
: -Bill
:
: ----- Original Message -----
: From: "Ann" <annholly@attbi.com>
: To: <canslim@lists.xmission.com>
: Sent: Wednesday, August 07, 2002 12:15 PM
: 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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