RE: [CANSLIM] MME

From: "Mike Gibbons" <mikegibbons@proactech.com>
Subject: RE: [CANSLIM] MME
Date: Tue, 17 Sep 2002 09:49:06 -1000

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I wasn't saying that it was starting a new cup, but the old cup was now
extended from its previous pivot of 8/16 to 9/11 and that it is now forming
a new handle. So we agree!

I also agree the RS and Up/Down volume are strong. I've noticed quite a few
charts lately where the right-side volume has been below the 50 dma average
but the RS and Up/Down volume has been strong. I don't know, but maybe this
is normal behavior in a  bear market.

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 Spencer48@aol.com
Sent: Tuesday, September 17, 2002 9:02 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] MME


Mike:

     Good point.  But here is how I evaluate MME:  As I mentioned, the Cup
was formed between June and mid-August.  Then came the down-handle on lower
then 50 ADV, but higher than listless trading.  This was followed by an
upward-handle on low volume, whereupon it attempted a BO on low volume,
closing at the bottom of its range.  Now, in my view, it is again forming a
new handle (associated with the same June-to-August Cup), NOT  the beginning
of a new Cup.

     As I suggested, however, you could very well be correct (Different
strokes...).  But I believe that there will be resistance at the June left
lip-and not just at the left lip that you designate in August as a new cup
formation.

     In any event, MME is definitely strong-as can be viewed in its RS-line
(Notice the strong divergence between its left lip in June and currently).
Whether this eerie Market, though, will let it test its strength is another
question.

jans (by the way you're being polite, not picky.  The only way we all can
learn from one another is by questioning each other's analysis)

In a message dated 9/17/2002 2:34:07 PM Eastern Daylight Time,
mikegibbons@proactech.com writes:

<< Jans,

 Not wishing to be picky, but according to my understanding of WON's rules
 for CwH's, strictly speaking, the handle was restarted on 9/11 when the
 intraday high set a new pivot point. This re-setting of the handle means
the
 right side of the new cup shows very weak price/volume action - not a nice
 cup at all.

 Aloha,

 Mike Gibbons
 Proactive Technologies, LLC
 http://www.proactech.com >>

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