Re: [CANSLIM] M

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] M
Date: Thu, 21 Nov 2002 22:58:05 -0600
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Hi Curt,

I don't think when you're looking at patterns on major indexes such as =
the NASDAQ that the pattern of volume would be used in the same way that =
it is on an individual stock. My take on it is simply that an index =
represents a huge number of individual stocks, and while the general =
price pattern will indicate a reversal of a trend or a general shift in =
psychology and pattern of buying and selling in the market, the volume =
doesn't really tell you the same story as it does in an individual =
stock. In other words, I think that it's more important to look for a =
pattern of accumulation outpacing distribution (up days on higher volume =
than the previous day vs. down days on higher volume), than it is to =
look for the "bathtub" volume pattern that one would use on an =
individual stock.

Katherine
  ----- Original Message -----=20
  From: Curt Corley=20
  To: canslim@lists.xmission.com=20
  Sent: Thursday, November 21, 2002 6:27 PM
  Subject: RE: [CANSLIM] M


  I'm glad you mentioned the General Markets & Sectors commentary in =
today's IBD.  I looked at the charts, and they did not appear to have =
rising volume on the sides of the cups.  As a matter of fact, the =
heaviest volume days were at the very bottom of the cup.  I don't think =
the indices have shown great cwh characteristics.  However, I'm a novice =
at this stuff, so I would appreciate any criticism or validation of my =
view. =20

  =20

  Curt

  =20

  -----Original Message-----
  From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Kelly Short
  Sent: Thursday, November 21, 2002 3:11 PM
  To: canslim@lists.xmission.com
  Subject: RE: [CANSLIM] M

  =20

  Speaking of handles- what are peoples' thoughts on WON's comment from =
this morning about the NASDAQ forming a cup and handle? Volume in the =
handle seems a bit "imperfect" but I don't want to be the one to rain on =
the parade!

    -----Original Message-----
    From: Katherine Malm [mailto:kmalm@earthlink.net]
    Sent: Thursday, November 21, 2002 3:04 PM
    To: canslim@lists.xmission.com
    Subject: Re: [CANSLIM] M

    Hi Ian,

    =20

    Just a quick note... re your comment "It is also baffling to me that =
the sectors that stand to benefit the most from coming increases in =
government spending - the defense and security sector - are watching =
this action from the sideline as well."=20

    =20

    I noticed SFNT powering ahead today. I've also noticed that money is =
definitely coming *out* of the safe-haven defensive issues such as =
healthcare/hospitals, etc. In general, I see far more breakouts than =
I've seen since last year, so all together, still looks promising to me.

    =20

    Katherine

      ----- Original Message -----=20

      From: Ian=20

      To: canslim@lists.xmission.com=20

      Sent: Thursday, November 21, 2002 3:23 PM

      Subject: [CANSLIM] M

      =20

      Is anyone else finding any "NEW" winners emerging from this buying =
frenzy?

      =20

      It seems to me that several recent rally leaders are rolling over =
ugly today - HITK, LCI, ACET - while the indices power ahead, propelled =
by the most heavily shorted isues.

      =20

      It is also baffling to me that the sectors that stand to benefit =
the most from coming increases in government spending - the defense and =
security sector - are watching this action from the sideline as well.

      =20

      So am I mising the new leaders of the bull, or is this just =
shot-term traders using liquidity to squeeze heavily shorted positions? =
Opinions? Whither 'M'?

      =20

      Ian


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<BODY lang=3DEN-US style=3D"tab-interval: .5in" vLink=3Dblue link=3Dblue =
bgColor=3Dwhite>
<DIV>Hi Curt,</DIV>
<DIV>&nbsp;</DIV>
<DIV>I don't think when you're looking at patterns on major indexes such =
as the=20
NASDAQ that the pattern of volume would be used in the same way that it =
is on an=20
individual stock. My take on it is simply that an index represents a =
huge number=20
of individual stocks, and while the general price pattern will indicate =
a=20
reversal of a trend or a general shift in psychology and pattern of =
buying and=20
selling in the market, the volume doesn't really tell you the same story =
as it=20
does in an individual stock. In other words, I think that it's more =
important to=20
look for a pattern of accumulation outpacing distribution (up days on =
higher=20
volume than the previous day vs. down days on higher volume), than it is =
to look=20
for the "bathtub" volume pattern that one would use on an individual=20
stock.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A title=3Dcjcorley@hiwaay.net =
href=3D"mailto:cjcorley@hiwaay.net">Curt Corley</A>=20
  </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
  =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
 </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, November 21, =
2002 6:27=20
  PM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] M</DIV>
  <DIV><BR></DIV>
  <DIV class=3DSection1>
  <P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">I=92m glad =
you=20
  mentioned the General Markets &amp; Sectors commentary in today=92s =
IBD.<SPAN=20
  style=3D"mso-spacerun: yes">&nbsp; </SPAN>I looked at the charts, and =
they did=20
  not appear to have rising volume on the sides of the cups.<SPAN=20
  style=3D"mso-spacerun: yes">&nbsp; </SPAN>As a matter of fact, the =
heaviest=20
  volume days were at the very bottom of the cup.<SPAN=20
  style=3D"mso-spacerun: yes">&nbsp; </SPAN>I don=92t think the indices =
have shown=20
  great <SPAN class=3DSpellE>cwh</SPAN> characteristics.<SPAN=20
  style=3D"mso-spacerun: yes">&nbsp; </SPAN>However, I=92m a novice at =
this stuff,=20
  so I would appreciate any criticism or validation of my view.<SPAN=20
  style=3D"mso-spacerun: yes">&nbsp; =
</SPAN><o:p></o:p></SPAN></FONT></P>
  <P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p>&nbsp;</o:p></SPAN></FONT></P>
  <P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial">Curt<o:p></o:p></SPAN></FONT></P>
  <P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p>&nbsp;</o:p></SPAN></FONT></P>
  <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DTahoma =
size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
  Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: bold">From:</SPAN></B>=20
  owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]=20
  <B><SPAN style=3D"FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Kelly=20
  Short<BR><B><SPAN style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B>=20
  </SPAN></FONT><st1:date Year=3D"2002" Day=3D"21" Month=3D"11"><FONT =
face=3DTahoma=20
  size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Tahoma">Thursday, November=20
  21, 2002</SPAN></FONT></st1:date><FONT face=3DTahoma size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> =
</SPAN></FONT><st1:time=20
  Minute=3D"11" Hour=3D"15"><FONT face=3DTahoma size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">3:11=20
  PM</SPAN></FONT></st1:time><FONT face=3DTahoma size=3D2><SPAN=20
  style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"><BR><B><SPAN=20
  style=3D"FONT-WEIGHT: bold">To:</SPAN></B>=20
  canslim@lists.xmission.com<BR><B><SPAN=20
  style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> RE: [CANSLIM]=20
M</SPAN></FONT></P>
  <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
  size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"><o:p>&nbsp;</o:p></SPAN></FONT></P>
  <DIV>
  <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
color=3Dblue=20
  size=3D2><SPAN style=3D"FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: =
Arial">Speaking=20
  of handles- what are peoples' thoughts on WON's comment from this =
morning=20
  about the NASDAQ forming a cup and handle? Volume in the handle seems =
a bit=20
  "imperfect" but I don't want to be the one to rain on the=20
  parade!</SPAN></FONT><o:p></o:p></P></DIV>
  <BLOCKQUOTE style=3D"MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; =
MARGIN-RIGHT: 0in">
    <P class=3DMsoNormal=20
    style=3D"MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0.5in; MARGIN-RIGHT: 0in; =
mso-margin-top-alt: 0in"><FONT=20
    face=3DTahoma size=3D2><SPAN=20
    style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
    Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: =
bold">From:</SPAN></B>=20
    Katherine Malm [mailto:kmalm@earthlink.net]<BR><B><SPAN=20
    style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> Thursday, November 21, =
2002 3:04=20
    PM<BR><B><SPAN style=3D"FONT-WEIGHT: bold">To:</SPAN></B>=20
    canslim@lists.xmission.com<BR><B><SPAN=20
    style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [CANSLIM]=20
    M</SPAN></FONT><o:p></o:p></P>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN style=3D"FONT-SIZE: 12pt">Hi=20
    Ian,<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN style=3D"FONT-SIZE: 12pt">Just a quick note... re =
your comment=20
    "It is also baffling to me that the sectors that stand to benefit =
the most=20
    from&nbsp;coming increases in government spending - the defense and =
security=20
    sector - are watching this action from the sideline as well."=20
    <o:p></o:p></SPAN></FONT></P>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN style=3D"FONT-SIZE: 12pt">I noticed SFNT powering =
ahead today.=20
    I've also noticed that money is definitely coming *out* of the =
safe-haven=20
    defensive issues such as healthcare/hospitals, etc. In general, I =
see far=20
    more breakouts than I've seen since last year, so all together, =
still looks=20
    promising to me.<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
    <DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN=20
    style=3D"FONT-SIZE: =
12pt">Katherine<o:p></o:p></SPAN></FONT></P></DIV></DIV>
    <BLOCKQUOTE=20
    style=3D"BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: =
medium none; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0in; MARGIN: 5pt 0in 5pt =
3.75pt; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: =
medium none">
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">----- =
Original=20
      Message ----- <o:p></o:p></SPAN></FONT></P></DIV>
      <DIV style=3D"font-color: black">
      <P class=3DMsoNormal=20
      style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">From:</SPAN></FONT></B><FONT=20
      face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
      title=3Dianstm@shaw.ca href=3D"mailto:ianstm@shaw.ca">Ian</A>=20
      <o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">To:</SPAN></FONT></B><FONT=20
      face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
      title=3Dcanslim@lists.xmission.com=20
      =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
      <o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Sent:</SPAN></FONT></B><FONT=20
      face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">=20
      Thursday, November 21, 2002 3:23 =
PM<o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Subject:</SPAN></FONT></B><FONT=20
      face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">=20
      [CANSLIM] M<o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: =
12pt"><o:p>&nbsp;</o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt">Is anyone else finding =
any "NEW"=20
      winners emerging from this buying=20
      frenzy?</SPAN></FONT><o:p></o:p></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: =
12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt">It seems to me =
that&nbsp;several=20
      recent rally leaders are rolling over ugly today - HITK, LCI, ACET =
- - while=20
      the indices power ahead, propelled by the most heavily shorted=20
      isues.</SPAN></FONT><o:p></o:p></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: =
12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt">It is also baffling to me =
that the=20
      sectors that stand to benefit the most from&nbsp;coming increases =
in=20
      government spending - the defense and security sector - are =
watching this=20
      action from the sideline as =
well.</SPAN></FONT><o:p></o:p></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: =
12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt">So am I mising the new =
leaders of the=20
      bull, or is this just shot-term traders using liquidity to squeeze =
heavily=20
      shorted positions? Opinions? Whither=20
      'M'?</SPAN></FONT><o:p></o:p></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: =
12pt">&nbsp;<o:p></o:p></SPAN></FONT></P></DIV>
      <DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D2><SPAN=20
    style=3D"FONT-SIZE: =
10pt">Ian</SPAN></FONT><o:p></o:p></P></DIV></BLOCKQUOTE>
    <DIV class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in; TEXT-ALIGN: =
center"=20
    align=3Dcenter><FONT face=3D"Times New Roman" size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">
    <HR align=3Dcenter width=3D"100%" SIZE=3D2>
    </SPAN></FONT></DIV>
    <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
    size=3D3><SPAN style=3D"FONT-SIZE: 12pt">For your protection, this =
e-mail=20
    message has been scanned for viruses. <o:p></o:p></SPAN></FONT></P>
    <P style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times New Roman" =
size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">Visit us at <A=20
    href=3D"http://www.neoris.com/">http://www.neoris.com/</A>=20
    <o:p></o:p></SPAN></FONT></P>
    <DIV class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in; TEXT-ALIGN: =
center"=20
    align=3Dcenter><FONT face=3D"Times New Roman" size=3D3><SPAN=20
    style=3D"FONT-SIZE: 12pt">
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