RE: [CANSLIM] more breakouts

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] more breakouts
Date: Fri, 21 Mar 2003 21:34:44 -0600
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Hi Ian,

One thing I should clarify is that our watchlist generation program is
agnostic and is based *only* on whether or not the stock meets the
*technical* requirements for a cup and handle setup. That is, a stock can
set up and/or stage an attempted breakout even if it does not have the
preferred CANSLIM *fundamental* characteristics. Other tools at our site
assist the user in focusing their attention on fundamentally superior stocks
appearing on a watchlist if they so choose.

In other words, a stock can break out of an intermediate term consolidation
such as a cup and handle without necessarily being a "CANSLIM quality"
stock. The market dictates where money is flowing at the time, and it is not
always into growth stocks. That said, as I mentioned earlier today, many of
today's breakouts did indeed fit the "CANSLIM quality" moniker due to very
strong growth fundamental characteristics.

Katherine

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Ian
Sent: Friday, March 21, 2003 9:46 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] more breakouts


Hi Mike:

Thanks a lot for the list (I think it is probably good promotion for your
service, as it give folks a chance to look closely at the kinds of
stocks/setups that you are alerting on).

I will go over your list in detail this weekend, and post my 2 cents worth
on Sunday.

Cheers,

Ian


- ----- Original Message -----
From: Mike Gibbons <mike@proactech.com>
To: <canslim@lists.xmission.com>
Sent: Friday, March 21, 2003 3:12 PM
Subject: RE: [CANSLIM] more breakouts


> Ian,
>
> We do not normally release our breakout alerts as they are proprietary, as
> Mike Niemotka has already explained. However, in view of your posing the
> possibility that an unusually high number of breakouts today are a result
of
> short covering, I'll post the list of alerts issued today and their status
> at market close. I would be very interested to hear what the verdict is on
> short covering.
>
> Symbol       BoP     Close       BoV    Volume  Status
> ------       ---     -----       ---    ------  ------
> KWD        29.60     29.73    275337    293600  Breakout Sustained
> VIP        38.79     39.38    387123    337900  Insufficient volume
> ABV        16.48     16.58    586101    602700  Breakout Sustained
> ACTI        9.61      9.40    426648    673002  Failed on price
> ALTR       15.15     15.20  12922464  15548002  Breakout Sustained
> CYBX       20.00     19.97    261645    271400  Failed on price
> IBM        83.50     84.90  12962175  12525300  Insufficient volume
> ITU        25.90     27.13    152772    104600  Insufficient volume
> JEC        42.44     41.97    511167    844700  Failed on price
> LLTC       34.87     34.91  10076322   8493255  Insufficient volume
> POWI       23.48     23.86   1156207   1187187  Breakout Sustained
> RCII       54.60     56.60    819613    476944  Insufficient volume
> SBUX       25.75     26.35   6397516   6129293  Insufficient volume
> SRCL       38.79     39.42    629319    622635  Insufficient volume
> SRNA       16.00     16.35    675135   1066951  Breakout Sustained
> DRTE       10.13      9.67    255486    133140  Failed on price
Insufficient
> volume
> FLR        34.25     34.99    729579    847000  Breakout Sustained
> SNDK       20.85     20.47   4619439   3520486  Failed on price
Insufficient
> volume
> TNOX       11.60     11.16    207510    455745  Failed on price
>
> Please note that these are stocks breaking out from a CwH pattern, not
> breakouts from any other kind of base.
>
> Aloha,
>
> Mike Gibbons
> Proactive Technologies, LLC
> http://www.proactech.com
>
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Ian
> Sent: Friday, March 21, 2003 12:21 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] more breakouts
>
>
> Hi Mike:
>
> May I ask if all 8 of them were heavily shorted issues?  The reason I ask
is
> that I'm still seeing most of the action in the stocks with the largest
> short positions. I'm not sure what CANSLIM has to say about it, but my gut
> tells me that it implies extra caution. Is it permitted to share todays
> 'breakouts' with this list, or is that proprietary information?
>
>
> Also, since the initial market breakdown in September 2000, the  40-week
ema
> of the OEX has provided a ceiling for every single bear-market rally.
>
(http://bigcharts.marketwatch.com/intchart/frames/main.asp?time=10&freq=2&co
>
mpidx=aaaaa%3A0&comp=&ma=6&maval=13%2C40%2C200&uf=8&lf=268435456&lf2=4&lf3=8
>
&type=2&style=320&size=4&sid=0&o_symb=&startdate=&enddate=&show=true&symb=oe
> x&draw.x=54&draw.y=14)
>
> As we stand now with the OEX at 456, that ceiling is a meagre 5 points
away
> right now. I would argue for close market scurtiny at that level.
>
>
> Cheers,
>
> Ian
>
>
>
>
>
>
>
> ----- Original Message -----
> From: <michael_niemotka@baxter.com>
> To: <canslim@lists.xmission.com>
> Sent: Friday, March 21, 2003 7:16 AM
> 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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