Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] FCBP
Date: Wed, 6 Nov 2002 23:25:49 -0500
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Kelly, first some comments on the chart and its fundies. To me, earnings are way too erratic. Past 8 qtrs were minus 20%, +9%, zero, +29%, +13%, minus 9%, +38%, +6%. To make the full year forecast, they have to show 49 cents in Q4, which looks questionable to me. And with sales up 114% in the latest qtr, but earnings only up 6%, suggests to me that margins are being hurt. Chart wise, I see nothing resembling a double bottom (remember you want to see something that looks like the letter "W"). This is particularly clear on a weekly chart, the daily chart is too confusing for me. On the weekly, if I had to force fit it into any specific pattern, it would be a LLUR, but a volatile one. As for your general question on buying a double bottom, normally your pivot is just over the center point of the "W" formation. But if it started to form a handle below that level, and was otherwise a strong "W" pattern (second down leg undercut the first, volume in the right places of the pattern as well as on up and down days), then I would give more weight to the handle forming, and use the high point in the handle as the pivot if / when I saw at least 2X ADV. - ----- Original Message ----- From: "Kelly Short" <kelly.short@fw.us.neoris.com> To: <canslim@lists.xmission.com> Sent: Wednesday, November 06, 2002 11:45 AM Subject: [CANSLIM] FCBP Noticed FCBP appears to be making a double bottom (opinions?) and has decent fundamentals (Last QTR Sales up 114%, Prior QTR EPS up 38%, Mgmt owns 35%). Volume appears to be picking up substantially over the past two days. What are the rules for buying double bottoms? Do they form a handle or do you purchase at the pivot the first time it hits? Also, FCBP is about to break a 2 Year price high of $32. - - - -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.
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