Re: [CANSLIM] PETM - base counting

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] PETM - base counting
Date: Tue, 13 Aug 2002 23:45:18 -0400

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Scott, I would consider the "double bottom" to actually be a quadruple
bottom and extend thru 5/18/01, when the price began to exceed the center
point of the "w".  Prior to that, I don't consider it properly formed. That
said, I do not trust normal chart patterns that much when a stock is down to
only a few dollars. It's much easier to find some temporary support at
$2.50, as the value investors start their "gee, if it only doubles from here
I could . . . "

- ----- Original Message -----
From: "Scott Gettis" <sgettis@ucla.edu>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 13, 2002 5:23 PM
Subject: [CANSLIM] PETM - base counting


just since we're talking about base counting, I wanted to discuss a current
example.

This is my take:

Base 1 - Double BOTTOM (Dec 99 - March 01) - Boy is that symmetrical!
Base 2 - V-shaped CUP (sep 01 - nov 01)- who ever said they could not work?
Base 3 - Current Consolidation

Thanks,
Scott


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