RE: [CANSLIM] Comments on COLM, UTSI, HOV?

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] Comments on COLM, UTSI, HOV?
Date: Fri, 9 May 2003 10:17:49 -0500
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Hi Tomas,

High handles aren't nearly as common as handles lower in the base, but they
do pop up now and then. In COLM's case, the gap on the right side of the
base contributed to this formation. While most stocks will take a wandering
path up the right side of the base, rising and falling back several times
before setting up a valid handle for a breakout, COLM shot straight up. The
pause to absorb the move (thus forming a handle) would then happen higher
and much closer to the resistance on the left side of the base.

In my mind, the first requirements of a handle are that the midpoint of the
handle is above the midpoint of the base (showing the ability of the stock
to retrace the correction and shore up power for the remaining move up), and
must form above the 200dMA. Until those 2 requirements are met, it's not a
valid handle. However, any part of the base from there on up is valid
territory and as long as the other necessary technical requirements for the
base itself and the handle are met, you're good to go. That means that high
handles are just fine, though less common.

Here's an article on high handles from my Investor's Corner files:
http://www.cwhcharts.com/Katherine/HotStocksHighHandles.JPG

If I remember right, COLM is an old favorite of Norm Boyd's....maybe he can
shed some light for you.

Katherine

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tomas
Sent: Thursday, May 08, 2003 9:00 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] Comments on COLM, UTSI, HOV?


Katherine,

Hmm, interesting.  I don't see WON mentioning about
the handle locating above the left side of the cup.
Base on your experienc, do you see this type of
formation often?  And do you consider this a stronger
or weaker C&H than the C&H with the usual handle below
the left side of the cup and above the 200 DMA?

I'll be keeping track of this stock to see what it
does.

tomas

- --- Katherine Malm <kmalm@earthlink.net> wrote:
> Hi Chris, Tomas,
>
> COLM is etching a "high handle". That is, a handle
> which forms a bit above
> the left side of the cup. In this case, it's about
> 2% above. While valid
> handles form above the midpoint of the cup, there is
> nothing to keep them
> from forming higher. This one is high due to the big
> recent gap up on the
> right side of the cup. Here's a look at the chart of
> COLM with some comments
> on the CE Scores and basing pattern:
>
> http://www.cwhcharts.com/katherine/COLM050703.JPG
>
> In general, all three of these stocks fall into what
> I refer to as the
> "green" zone based on the combination of
> fundamentals and technicals. That
> makes them worth reviewing in greater detail to find
> their
> strengths/weaknesses. See how they fall into line
> with respect to all
> possible CE Scores:
>
> http://www.cwhcharts.com/katherine/CEMap050703.JPG
>
> (To review the methodology for deriving the scores
> and mapping them see
> http://www.cwhcharts.com/canslim/CE_methodology.htm
> and
>
http://www.cwhcharts.com/canslim/CE_zone_methodology.htm)
>
>
> Katherine
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf
> Of Tomas
> Sent: Wednesday, May 07, 2003 9:05 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] Comments on COLM, UTSI, HOV?
>
>
> Chris,
>
> Here's my take.
>
>
> COLM - Fundies ok, Industry rank is 38.  Not good.
> Anyone put a lot of weight on this?  Not sure if
> this
> is a "good" CwH.  The handle price should be below
> the
> left cup.
>
> UTSI - Not sure about this graph.  Does look like a
> nice CwH.  Maybe the handle is not well developed
> yet.
>
> HOV - Fundies is good. Industry rank is 19, which is
> just ok.  I see the handle from 3/21 - 4/1.  The BO
> is
> on 4/2 with increased volume.  If you cansider that,
> then today price is well extended and today's big
> volume with price jump might be a good sign to sell.
> Anyone agree with my analysis? Or am I missing the
> whole boat? :).
>
>
> --- Chris Jones <SwingKid104@attbi.com> wrote:
> > Hi All.  Just wondering if anybody had any
> comments
> > on COLM, UTSI, or HOV.  Here's my novice analysis.
> >
> > COLM - Looks like a CwH, does it matter that it
> > gapped down and up?  Fundies/IBD looks pretty
> good,
> > but only 12 out of 18 on the CANSLIM Evaluation @
> > cwhcharts.com.
> >
> > UTSI - I see a CwH from May-02 to present.  But I
> > also see the Handle as a smaller CwH.  Anyone else
> > see this?  Does that make it any more significant?
> > Fundies/IBD also looks pretty good.  15 out of 18
> on
> > the CANSLIM Eval.
> >
> > HOV - Looks like a CwH.  Volume contracted
> > appropriately during the handle.  Nice breakout
> > today on 2x ADV.  Again, Fundies/IBD looks pretty
> > good.  14 out of 18 on the CANSLIM Eval.
> >
> > All three stocks are on the IBD100 list.
> >
> > Any of them look particularly tempting?
> >
> > Thanks for your comments!
> >
> > Chris
>
>
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