Re: [CANSLIM] MIK

From: Spencer48@aol.com
Subject: Re: [CANSLIM] MIK
Date: Fri, 13 Sep 2002 13:03:21 EDT

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Michael:

     Whether it is or isn't forming a high handle, I'd be wary of MIK.  
Notice that on its "high handle" as it goes up in price, volume falls (if it 
is a "handle", I believe Katherine would call this a "wedging handle", ie. 
prices ascending while volume descends).  

     Also down volume is rising above the 50 ADV and yesterday's price, while 
one could say it hit support, closed at the bottome of its range on high 
volume.  And although the RS-line's trend looks nice, MIK's high price (on 
Wed. when it closed lower) did not see the RS-line also make a new high 
(although, I'm not sure whether or not the RS-line is based on the closing 
price or on the high price).  

     I'd also be cautious because the Market doesn't look good, for example 
volume is stagnant even on down days-and I don't believe the institutions are 
going to rescucitate today, either.

jans



In a message dated 9/13/2002 12:12:37 PM Eastern Daylight Time, 
michael_niemotka@baxter.com writes:

<< s MIK forming a high handle?  From what I remember from WON, and Mike
 Gibbons site, the handle should form at no more than 5% above the left side
 of the cup, and it seems like MIK is above this.
  >>

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