RE: [CANSLIM] more breakouts

From: "Mike Gibbons" <mike@proactech.com>
Subject: RE: [CANSLIM] more breakouts
Date: Fri, 21 Mar 2003 13:12:54 -1000

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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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