RE: [CANSLIM] IBD Weblink

From: "Mike Gibbons" <mike@proactech.com>
Subject: RE: [CANSLIM] IBD Weblink
Date: Fri, 11 Oct 2002 11:15:05 -1000

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Hi Jans,

The point I was trying to make was not about the level at which the handle
forms (5,15 or 31%), but that they used the 52 week high (back in January)
as the reference point, rather than the left side of the cup, which was
$19.11 on 3/13.

However, if they had used the left side of the cup as the reference, then it
was only 8% below the left side, well within the normal range and therefore
a normal range.

This was how my site saw the cwh as of 10/9, the day before the breakout.

http://www.cwhcharts.com/charts/cwhchart.php?symbol=APPX&today=2002-10-09

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: Friday, October 11, 2002 10:22 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] IBD Weblink


Mike:

     This is a passage from IBD's Weblink today on APPX:  "...Was this
consolidation a sound handle? No, it wasn't. The low of the handle, 15.08,
stood 31% off the 52-week high of 22. A healthy handle forms 5% to 15% off
the stock's high in a strong market, up to 20% off the high in a bear. Thus
Thursday's 8% gain on heavy volume (Point 3), while impressive, didn't
constitute a true breakout...."

     Previously, I thought WON had said that the low of the handle should
not
go below 35% of the previous rise to the left lip.

     By The Way (whoever reads this far down):  I generally compile my IBD
"New America" stocks every Friday.  Today I noticed that ALL of the stocks
in
New America for this week are in the Medical-Products or Medica/Dental
Supplies or Medical Drugs industries.  You think-with this repetition of
"Medical"-IBD is hinting at something?

jans




In a message dated 10/11/2002 3:55:18 PM Eastern Daylight Time,
mike@proactech.com writes:

<< It used to be that the pivot should be within 5-15% of the left side of
the
 cup, but here they say 5-15% of the 52 week high. This seems to imply a new
 constraint that the left side of the cup should also be a 52 week high. >>

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