RE: [CANSLIM] Re: FFIV

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] Re: FFIV
Date: Fri, 16 May 2003 08:33:13 -0500

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Hi jans,

Whew...could you have picked a tougher chart????

I agree that FFIV failed to break out of a double bottom (2B) base last
August, but the action since then is too long in proportion to the base to
be considered one long handle. When the price action lingers like that, I
think it's easiest to instead look at it as a fresh base and evaluate it
from there. (WON also suggests that when you have one formation *within*
another, say a CwH inside a much larger CwH, that you look at the current
base and determine the pivot accordingly.) After the attempted B/O from the
2B failed, the pattern I see is an Ascending Base (A-Base). I can't say that
I've ever seen a base on base formation consisting of a 2B followed by an
A-Base, but this is one for my study binder for sure! While it's not
something I've seen exactly like this before, it makes a lot of sense. 2B's
are typically bottoming formations and A-Bases are typically found coming
out of Bear markets. Voila....now 2 for the price of one!

Here's the action on a weekly basis with the base on base formation noted:

http://www.cwhcharts.com/katherine/FFIVWkly051503.JPG

And here's a close up of the A-Base with yesterday's B/O showing clearly as
the price rises above the upper trend line of the base:

http://www.cwhcharts.com/katherine/FFIV051503.JPG

I'd agree...nice looking industry as well (I always love a rising industry!)

http://www.cwhcharts.com/katherine/INetSecurNetwork050903.JPG

Katherine

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Spencer48@aol.com
Sent: Thursday, May 15, 2003 4:03 PM
To: canslim@lists.xmission.com
Subject: [CANSLIM] Re: FFIV


Katherine:

     Would you see FFIV weekly as a failed BO (because of poor volume) of a
nice looking double bottom (with the 2nd downleg being lower than the first)
with a long handle (over 20 weeks)?

     Its industry is nice and its fundies look nice.  It seems like its one
of those stocks that should go higher but doesn't (the kind that makes
technical analysis worthwhile).

jans

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