Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] pivots again
Date: Thu, 2 Jan 2003 21:15:57 -0600
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This is a multi-part message in MIME format. - ------=_NextPart_000_0096_01C2B2A4.24A5C6E0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit Hi Rolf, I think that's the first time I've ever heard the IBD refer to the "meat" of the handle...certainly a new one on me. Despite the wording, I think it's just a good example of the subtleties of chart reading and that one could look at the action in early December that marked the beginning of the handle, see the tail, put it in perspective, and essentially disregard the high point as an outlier. As a result, the point later in the month that the article identifies as the "meaty point" or "adjusted pivot" shows the resistance point. Either way, the breakout date remains 1/17/91 on strong volume. A more aggressive entry might be above $39.73 + .10, a slightly more conservative entry would've been above the high of the handle. I'll bet you a SBUX there's not another example in an IBD article where the pivot is set at such a subtle spot, so I'm not going to lose any sleep over it! See an annotated chart at http://www.cwhcharts.com/katherine/HD1990.JPG Katherine -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Rolf Hertenstein Sent: Wednesday, January 01, 2003 12:39 PM To: canslim@lists.xmission.com Subject: [CANSLIM] pivots again IBD's Smart Investor for Monday, Dec. 30, talks about Home Depot (HD) in 1991. They mark a handle as forming from early December 1990 to mid-January 1991. They use a intraday high in the first third of the handle as the $39.73 pivot. For those of you that are good at charts and have IBD, why is the pivot there and not at about $41 at the intraday high at the beginning (left side) of the handle? TIA and Happy New Year to all. Rolf - ------=_NextPart_000_0096_01C2B2A4.24A5C6E0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2800.1126" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#fffcf0> <DIV><SPAN class=3D683040403-03012003>Hi Rolf,</SPAN></DIV> <DIV><SPAN class=3D683040403-03012003></SPAN> </DIV> <DIV><SPAN class=3D683040403-03012003>I think that's the first time I've = ever=20 heard the IBD refer to the "meat" of the handle...certainly a new one on = me.=20 Despite the wording, I think it's just a good example of the subtleties = of chart=20 reading and that one could look at the action in early December that = marked the=20 beginning of the handle, see the tail, put it in perspective, and = essentially=20 disregard the high point as an outlier. As a result, the point later in = the=20 month that the article identifies as the "meaty point" or "adjusted = pivot" shows=20 the resistance point. Either way, the breakout date remains 1/17/91 on = strong=20 volume. A more aggressive entry might be above $39.73 + .10, a slightly = more=20 conservative entry would've been above the high of the handle. I'll bet = you a=20 SBUX there's not another example in an IBD article where the pivot is = set at=20 such a subtle spot, so I'm not going to lose any sleep over it! See an = annotated=20 chart at <A=20 href=3D"http://www.cwhcharts.com/katherine/HD1990.JPG">http://www.cwhchar= ts.com/katherine/HD1990.JPG</A></SPAN></DIV> <DIV><SPAN class=3D683040403-03012003></SPAN> </DIV> <DIV><SPAN class=3D683040403-03012003></SPAN> </DIV> <DIV><SPAN class=3D683040403-03012003>Katherine</SPAN></DIV> <BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px"> <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT = face=3DTahoma=20 size=3D2>-----Original Message-----<BR><B>From:</B>=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Rolf=20 Hertenstein<BR><B>Sent:</B> Wednesday, January 01, 2003 12:39 = PM<BR><B>To:</B>=20 canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM] pivots=20 again<BR><BR></FONT></DIV> <DIV><FONT face=3DArial size=3D2>IBD's Smart Investor for Monday, Dec. = 30,=20 talks</FONT></DIV> <DIV><FONT face=3DArial size=3D2>about Home Depot (HD) in 1991. = They mark a=20 handle</FONT></DIV> <DIV><FONT face=3DArial size=3D2>as forming from early December 1990 = to=20 mid-January 1991.</FONT></DIV> <DIV><FONT face=3DArial size=3D2>They use a intraday high in the first = third of=20 the handle as</FONT></DIV> <DIV><FONT face=3DArial size=3D2>the $39.73 pivot. For those of = you that are=20 good at charts</FONT></DIV> <DIV><FONT face=3DArial size=3D2>and have IBD, why is the pivot there = and not at=20 about $41</FONT></DIV> <DIV><FONT face=3DArial size=3D2>at the intraday high at the beginning = (left side)=20 of the handle?</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>TIA and Happy New Year to = all.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial = size=3D2> Rolf</FONT></DIV></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_0096_01C2B2A4.24A5C6E0-- - - - -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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