RE: [CANSLIM] AMGP - my first cup?

From: "Mike Gibbons" <mikegibbons@proactech.com>
Subject: RE: [CANSLIM] AMGP - my first cup?
Date: Wed, 18 Sep 2002 07:40:54 -1000

Next Article (by Subject): Re: [CANSLIM] ATK & LLL gap down, why? "Katherine Malm"
Previous Article (by Subject): [CANSLIM] AMGP - my first cup? "John Solarno"
Top of Thread: [CANSLIM] AMGP - my first cup? "John Solarno"
Articles sorted by: [Date] [Author] [Subject]

Hi John,

Yes, this is a cup with handle. I see three potential problems with the
chart however.
1) Although there was strong up volume on the right side, there were two big
selloff days followed by two high volume days with little price movement
indicating "churning" just before the pivot was formed. This detracts from
general quality of the right side of the cup.
2) there was a big selloff on 9/4 which took the low in the handle to more
than 15% from the pivot (although this may be acceptable in a bear market)
3) since then the handle has been wedging upwards, which is also considered
suspect.

That being said, very few charts are perfect, certainly in this market, and
the RS and up/down volume are strong.

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 John Solarno
Sent: Wednesday, September 18, 2002 6:55 AM
To: canslim@lists.xmission.com
Subject: [CANSLIM] AMGP - my first cup?


I've been a very infrequent contributor to the group because I feel like
my skills are so limited compared to many of the members who post here.

Nonetheless, I offer up AMGP as what I think may be the first
Cup-With-Handle I've actually identified all on my own.

Strong volume creating the right side of the cup on 8/22 and weakening
volume as the handle has been building the last few days.  I'd guess a
possible pivot at around 30.75?

As far as fundamentals are concerned, I see zero debt and an
extraordinarily high EPS growth rate.

What am I missing, other than the fact, of course, that the market
stinks?

John



- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.


- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.

Go to Jeff Salisbury LWGate Home Page.