re: [CANSLIM] Today's IBD "Would you buy this stock?"

From: Jack Tencza <jtenz@yahoo.com>
Subject: re: [CANSLIM] Today's IBD "Would you buy this stock?"
Date: Thu, 15 Aug 2002 16:55:26 -0700 (PDT)

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Katherine,this(Investor Quiz)looks like a daily chart.
Jack
- --- Katherine Malm <kmalm@earthlink.net> wrote:
> Hi Kelly,
> 
> One more thing I intended to include was a comment
> on your original question about the length of the
> handle. WON recommends that the handle be *at least*
> 1 wk (5 trading days), but the length of the handle
> will actually vary depending on the market and the
> characteristics of the base itself. One of the
> articles I have in my file on handles states "Don't
> be surprised if a good stock's handle stretches
> seven, eight, even more than 10 straight weeks."
> (From "Very Short Handles Bear High Risks" 11/29/01)
> 
> Katherine
> 
> ----- Original Message ----- 
> From: Katherine Malm 
> To: canslim@lists.xmission.com 
> Sent: Thursday, August 15, 2002 4:30 PM
> Subject: Re: [CANSLIM] Today's IBD "Would you buy
> this stock?"
> 
> 
> Hi Charley and Kelly,
> 
> A couple of things related to the MTON chart:
> 
> To your point about the breakout being beyond the 5%
> limit of the pivot---this is a weekly chart, so what
> you are seeing is the closing price at the end of
> the week, not necessarily on the day it broke out on
> volume. You'll have to look back at a daily from
> 4/01 to see it more specifically.
> 
> To the point about the handle droop--While 12-15% is
> the "norm", in Bear markets, that droop can be as
> much as 30% according to WON. My recollection of the
> 4/01 time period is that we were just beginning a
> rally and so it wouldn't seem out of character for
> the handle to be as deep as it was (by my estimation
> looking at the chart, about 25%). As long as the
> handle forms on diminishing volume, is in the upper
> half of the cup formation and above the 200 day MA,
> it's valid.
> 
> Katherine
>   ----- Original Message ----- 
>   From: Chazmoore@aol.com 
>   To: canslim@lists.xmission.com 
>   Sent: Thursday, August 15, 2002 4:07 PM
>   Subject: Re: [CANSLIM] Today's IBD "Would you buy
> this stock?"
> 
> 
>   Kelly: Good for you. While I don't think there is
> anything wrong with a 2 week handle, WON does state
> it should not droop more than 15%-20%. I didn't
> study it as close as you did, but my reaction to the
> question was NO. It looked to me like the breakout
> far exceeded 5% and we are instructed not to chase
> it past 5%. Charley 
>     ----- Original Message ----- 
>     From: Kelly Short 
>     To: canslim@lists.xmission.com 
>     Sent: Thursday, August 15, 2002 3:56 PM
>     Subject: [CANSLIM] Today's IBD "Would you buy
> this stock?"
> 
> 
>     In today's "Would you buy this stock?" Metro One
> Telecom is featured. The chart shows a CwH formation
> and the answer to the quiz is "Yes," you should have
> bought this stock. But is this the most beautiful
> CwH formation there is? The handle continues for 14
> days before the BO. Doesn't WON recommend 3 - 7
> days? During this time, it dips 50% from the top of
> the right side. Seems that I remember WON suggesting
> a CwH formation should correct around 20%. Thoughts
> anyone?
> 
> 
>
- ----------------------------------------------------------------------------
> 
> 
> 
> 
> 


=====
Jack

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