Go to Jeff Salisbury LWGate Home Page.From: michael_niemotka@baxter.com
Subject: RE: [CANSLIM] hitk
Date: Thu, 30 Jan 2003 07:04:27 -0600
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Top of Thread: RE: [CANSLIM] hitk "Katherine Malm"
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Katherine,
Is the "rubberband" rule one of your own making? It sounds sorta familiar,
but I can't remember where I came across it. In terms of "strength" of
sell rules, does this one rank as a yellow light, warning of a possible
pullback?
Thanks
Mike
Mike Niemotka , PE
Sr. Principal Engineer
Baxter Healthcare Corporation
Route 120 & Wilson Road
Round Lake, IL 60073
Tel (847) 270-4075
Fax (847) 270-4525
michael_niemotka@baxter.com
"Katherine Malm"
<kmalm@earthlink.net> To: canslim@lists.xmission.com
Sent by: cc:
owner-canslim@lists.xm Subject: RE: [CANSLIM] hitk
ission.com
01/29/2003 06:28 PM
Please respond to
canslim
Hi jans,
Thank you for pointing out the difference in the RSLine on my chart and
DGO,
as it lead to the discovery that our RSLine data had not been adjusted
after
the recent split. That means that my comments earlier today on the recent
decline in the RSLine aren't valid. I've made a few notes on the corrected
chart as a result.
http://www.cwhcharts.com/katherine/HITK012903Revised.JPG
I agree with you that HITK is somewhat extended, as it's a hair's breath
away from Rubberband Sell Rule territory (Price >= 25% of 50dMA + >= 70% of
200dMA). It certainly was in territory at its recent high and gives some
explanation for the recent pullback. Whether or not the pullback continues
to the current trend line or stops at the 50dMA is anybody's guess, but
either way, my earlier comments about the stock being in no-man's land are
still valid, and given the market backdrop, I would definitely wait until a
valid consolidation and breakout were formed before making an entry.
As to the availability of the U/D information over time, this is something
that I found to be missing on the DGO charts and the reason I originally
asked Mike to add them to our charts even before joining him at the
website.
I find it gives one additional clue as to the price/volume action and
seeing
it trend over time is more useful to me than seeing it as a single data
point. That's my same reasoning for seeing the RSRank plotted over time, as
I can easily go back and see the stock's condition during prior bases.
We've
made the charts available to folks on the CANSLIM list, so you can see this
when you need it by going to the site and entering your stock into the box
at the top right of our home page (www.cwhcharts.com) or via the direct
CANSLIM list link we've set up at
http://www.cwhcharts.com/charts/kmchart.php.
Katherine
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Spencer48@aol.com
Sent: Wednesday, January 29, 2003 1:09 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] hitk
Katherine:
Very nice chart analysis of HITK. Notice that on DGO, HITK's daily
RS-line is up at the recent troughs in January. This led me to believe
that
it was strong (as a matter of fact, I categorized its RS-line as being in
Strong Divergence). This, in turn, led me to believe that this was a
worthwhile stock to buy (assuming the market turned up) on its Break Out.
However, your chart's downtrend in the Up/Down ratio since October/02
has given me pause. Moreover, HITK's Weekly shows that it is way
overextended (when it broke out in Sept. at 9 [it is now at around 19]), so
perhaps this means that HITK is in a temporary top, and that its Weekly is
reflecting its Up/Down trend-decline . (But notice that even now, the
weekly
RS-line shows a lot of strength in its steepness and the RS-line's strong
divergence at the top compared to a few weeks earlier).
As I mentioned, HITK looked strong to me also, until you noted (in the
chart) its declining Up/Down ratio. Is there a database on-line where I
can
gather this past information on the Up/Down Ratio (and Accum/Distribution
Ratings also, if possible?)
jans
In a message dated 1/29/2003 12:04:41 PM Eastern Standard Time,
kmalm@earthlink.net writes:
<< HITK is not currently in a definable base, and so doesn't yet provide a
clear
entry point. See my annotated chart at:
http://www.cwhcharts.com/katherine/HITK012903.JPG
Katherine >>
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