Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] more breakouts
Date: Fri, 21 Mar 2003 10:10:12 -0600
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Hi Mike, For those that aren't familiar with our site methodology or terminology, the stocks on the "WON" list are distinguished from those on other lists only by whether or not they fit WON's strictest interpretation of a cup and handle setup. That is, WON's strictest requirements include a pivot within 15% of the 52 week high, a cup depth of no more than 33%, a handle droop of no more than 15%, a non-laggard RS of at least 70, etc. However, using his more general guidelines, a cup and handle is still valid even if it sports a bear depth of up to 60%, a handle droop of no more than 30%, a pivot setting up in the upper half of the base but not necessarily within 15% of the high, etc. So, of the 12 breakouts that have triggered today, while they do not meet the WON's most severe guidelines, they still meet his suggested guidelines for a valid cup and handle. What is far more important to me is the quality of the stocks setting up as an indicator of market health. Of the 12 that have triggered a potential breakout today (hitting their pivot points on projected volume of at least 150%), 10 of 12 come from what I call "the green zone." That is, out of the entire universe of stocks, they have *both* fundamental and technical scores that rank in the upper half of the maximum possible. In fact, 4 of the 12 are from the triple green zone (highest possible), 6 of the 12 come from the double green zone (2nd best). That's a key marker for me, because it says that CANSLIM quality stocks are the ones on the move rather than cyclical and defensive stocks, which has been the norm for such a very long time. I see this as very promising. Katherine - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of michael_niemotka@baxter.com Sent: Friday, March 21, 2003 9:17 AM To: canslim@lists.xmission.com Subject: [CANSLIM] more breakouts All, For anyone who is using the cwhcharts.com site, today there are already 8 breakout alerts! Does this mean that M is finally taking off? I have noticed though that none of the recent ones are from the WON lists, and am wondering if that should be a reason for caution. Katherine, any comments? 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 - - - -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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