Re: [CANSLIM] Breakout Blues

From: RWElmer@aol.com
Subject: Re: [CANSLIM] Breakout Blues
Date: Fri, 23 Aug 2002 14:38:01 EDT

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Unless I miss my guess, I think David Thomson was referring to CANSLIM chart 
patterns in particular, not CANSIM in general. I don't think there's a good 
arguement against most of the rest of CANSLIM, except maybe from Value 
players.

I share his concern about so many people looking for Cup & Handles, as 
traders will take advantage of herd mentality when they can, but I think it's 
also obvious that Breakouts have to happen for stocks to move higher. 
Therefore I think it's mostly the nature of the setups that will change over 
time and require adapting to. In a true Bull Market, however, I think that 
enough interest will be aligned in the same direction that C&Hs will prove as 
effective as in the past. Just an opinion and FWIW.  

Robert W. Elmer


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<HTML><FONT FACE=arial,helvetica><FONT  SIZE=2>Unless I miss my guess, I think David Thomson was referring to CANSLIM chart patterns in particular, not CANSIM in general. I don't think there's a good arguement against most of the rest of CANSLIM, except maybe from Value players.
<BR>
<BR>I share his concern about so many people looking for Cup &amp; Handles, as traders will take advantage of herd mentality when they can, but I think it's also obvious that Breakouts have to happen for stocks to move higher. Therefore I think it's mostly the nature of the setups that will change over time and require adapting to. In a true Bull Market, however, I think that enough interest will be aligned in the same direction that C&amp;Hs will prove as effective as in the past. Just an opinion and FWIW. &nbsp;
<BR>
<BR><B>Robert W. Elmer
<BR></B></FONT></HTML>

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