Re: [CANSLIM] more breakouts

From: Peter Christiansen <peter@turbo.cscoms.com>
Subject: Re: [CANSLIM] more breakouts
Date: Fri, 21 Mar 2003 23:20:52 +0700

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Excuse me, I haven't been on this list for quite some time.  What is 
"our site"?  Is there a web site I should know about?  Thank you.

Katherine Malm wrote:

>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
>
>
>
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