Re: [CANSLIM] MME

From: Spencer48@aol.com
Subject: Re: [CANSLIM] MME
Date: Tue, 17 Sep 2002 15:01:32 EDT

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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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