Re: [CANSLIM] more breakouts

From: Ian <ianstm@shaw.ca>
Subject: Re: [CANSLIM] more breakouts
Date: Fri, 21 Mar 2003 14:20:34 -0800

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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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