Re: [CANSLIM] MIK

From: Warren Keuffel <wkeuffel@xmission.com>
Subject: Re: [CANSLIM] MIK
Date: Fri, 13 Sep 2002 11:26:11 -0600

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I would add that it looks like MIK is making the right side of a
head-and-shoulders pattern.

Warren

Spencer48@aol.com wrote:

> 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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