Re: [CANSLIM] Advice on using weekly vs. daily charts

From: "Norman" <theboyd@tisd.net>
Subject: Re: [CANSLIM] Advice on using weekly vs. daily charts
Date: Tue, 27 Aug 2002 09:27:58 -0500

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On the daily chart, the only viable handle I see is the one pointed out by
Katherine on her upload.  Decreasing price on lower volume; very nice
handle.  Would have been nice to see more volume on the right side of the
cup.  Having traded in a more-or-less narrow range is also a plus in my
eyes.  Of course the recent pull back is disappointing, but not totally
unexpected these days.  Looks like this one went from a nice but short LLUR
to an equally nice c&h.  Seems like I have seen quite a few LLURs go to a
c&h lately.

On the weekly chart it looks like the recent LLUR pattern was the culprit
that broke the flat base trend that went back to June of last year; but I'm
not good with flat base recognition.  I find weekly charts are difficult to
read these days due to the M gyrations since March 2000.

Norm
- ----- Original Message -----
From: "Katherine Malm" <kmalm@earthlink.net>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 27, 2002 8:18 AM
Subject: Re: [CANSLIM] Advice on using weekly vs. daily charts


Hi Mike, Bob, Charley et al,

Sorry, I've lost track of where the conversation has been as I have trouble
following if I can't see a picture! Thought I was going to get away with
sitting this one out, but since Mike invoked the double-secret "get off your
buns" message....I've marked up a couple of charts as I see AMSG, one daily,
one weekly. See them at:

http://WallStreet-LLC.com/canslim/AMSG082602.jpg
http://WallStreet-LLC.com/canslim/AMSG082602wkly.jpg

Katherine
  ----- Original Message -----
  From: Mike Gibbons
  To: canslim@lists.xmission.com
  Sent: Tuesday, August 27, 2002 1:42 AM
  Subject: RE: [CANSLIM] Advice on using weekly vs. daily charts


  Hi Bob,

  My interpretation is that AMSG was in a CwH starting 6/3/02 and broke out
on 8/19  and has now pulled back to just below the pivot of that pattern.
Because it broke out to a high of $34, which was 7% higher than the left cup
of $32.70 on 6/30, IMHO that high can't be considered a new CwH pivot  as
the pivot can only reach a maximum of 3% above the left side of the cup, at
least according to WON.

  Katherine will hopefully jump in and provide more expertise on what the
pattern would now be called.

  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 rchodes
    Sent: Monday, August 26, 2002 7:23 PM
    To: canslim@lists.xmission.com
    Subject: [CANSLIM] Advice on using weekly vs. daily charts


    I would like some help with analyzing the chart for AMSG.  This
company's fundamentals look promising but I'm having trouble interpreting
the chart pattern.  If you look at the one year chart, would you consider
the JUN 02 through the AUG 15 as the cup with a descending handle forming
after AUG 15 or would you consider this a CWH starting on OCT 1 '01 with the
handle beginning around JUN 02.  My perception of these patterns is still
unreliable and I appreciate the advice of more experienced CAMSLIM
investors. Thanks in advance.

    By way of introduction, I am a clinical psychologist with only a
novice's knowledge of CANSLIM.  It's rather ironic that my own psychology
has messed me up many times in my past investing decisions and I feel that
CANSLIM can provide much needed structure and discipline.

    Bob Hodes



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