Go to Jeff Salisbury LWGate Home Page.From: "david frank" <camelot.homes@charter.net>
Subject: Re: [CANSLIM] PNRA base criterion
Date: Thu, 5 Sep 2002 17:57:10 -0500
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Katherine, I believe these are the most confusing statements, I have =
read from IBD. One thing of interest is before The "Tacoma Narrows" is a =
fairly nice flat base, of around 7 weeks, which came out of the breakout =
of PNRA's CwH 2nd handle. This flat base didn't breakout and failed on =
May 30th, and a double bottom started on June 4th from this failure. =
david
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Thursday, September 05, 2002 2:22 PM
Subject: Re: [CANSLIM] PNRA base criterion
Good grief, David. I read that and went "news to me!".....not sure =
I've ever heard WON describe something quite this way, so will have to =
read it a few times to absorb the point of view. I look at that =
"short-term correction" area very differently. That is, I see it as an =
invalid base from which I would have avoided chasing any sort of =
breakout. See my read on things at:
http://WallStreet-LLC.com/canslim/PNRA090502.jpg
Maybe "short term correction" is just a fancy term for "invalid base." =
Oh well, live and learn.
Katherine
----- Original Message -----=20
From: david frank=20
To: canslim@lists.xmission.com=20
Sent: Thursday, September 05, 2002 2:06 PM
Subject: [CANSLIM] PNRA base criterion
I found something very interesting in the ASK BILL section of =
today's IBD. It talks about PNRA and its fourth stage base. The =
interesting part of the answer is that the previous CwH base, although 9 =
weeks long, did not really count as a base, because it was shorter in =
duration and shallower; didn't dip closer to to its 200-day moving =
average, than the other 3 bases. Also, spent lesser time under its =
50-day moving average before climbing again. Thus, they don't count this =
as a base. Read this, and look at both the daily and weekly charts of =
PNRA. Am I missing something here? David
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<DIV><FONT face=3DArial size=3D2>Katherine, I believe these are the most =
confusing=20
statements, I have read from IBD. One thing of interest is before The =
"Tacoma=20
Narrows" is a fairly nice flat base, of around 7 weeks, which came out =
of the=20
breakout of PNRA's CwH 2nd handle. This flat base didn't breakout and =
failed on=20
May 30th, and a double bottom started on June 4th from this failure.=20
david</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, September 05, =
2002 2:22=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] PNRA =
base=20
criterion</DIV>
<DIV><BR></DIV>
<DIV>Good grief, David. I read that and went "news to me!".....not =
sure I've=20
ever heard WON describe something quite this way, so will have to read =
it a=20
few times to absorb the point of view. I look at that "short-term =
correction"=20
area very differently. That is, I see it as an invalid base from which =
I would=20
have avoided chasing any sort of breakout. See my read on things =
at:</DIV>
<DIV> </DIV>
<DIV><A=20
=
href=3D"http://WallStreet-LLC.com/canslim/PNRA090502.jpg">http://WallStre=
et-LLC.com/canslim/PNRA090502.jpg</A></DIV>
<DIV> </DIV>
<DIV>Maybe "short term correction" is just a fancy term for "invalid =
base." Oh=20
well, live and learn.</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dcamelot.homes@charter.net=20
href=3D"mailto:camelot.homes@charter.net">david frank</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, September 05, =
2002 2:06=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] PNRA base=20
criterion</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3DArial size=3D2>I found something very interesting =
in the ASK=20
BILL section of today's IBD. It talks about PNRA and its fourth =
stage base.=20
The interesting part of the answer is that the previous CwH base, =
although 9=20
weeks long, did not really count as a base, because it was shorter =
in=20
duration and shallower; didn't dip closer to to its 200-day =
moving=20
average, than the other 3 bases. Also, spent lesser time under its =
50-day=20
moving average before climbing again. Thus, they don't count this as =
a base.=20
Read this, and look at both the daily and weekly charts of PNRA. Am =
I=20
missing something here?=20
David</FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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