RE: [CANSLIM] Any reason why I should not buy APPX?

From: "Mark Kerson" <mkerson@dplus.net>
Subject: RE: [CANSLIM] Any reason why I should not buy APPX?
Date: Fri, 16 May 2003 07:11:28 -0400

Next Article (by Subject): RE: [CANSLIM] ARTI "Katherine Malm"
Previous Article (by Subject): RE: [CANSLIM] Any reason why I should not buy APPX? "Mark Kerson"
Top of Thread: RE: [CANSLIM] Any reason why I should not buy APPX? Roger Tawa
Articles sorted by: [Date] [Author] [Subject]

Thank you for answering my questions. 

- -----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 5:48 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Any reason why I should not buy APPX?

Mark:

<< What do you mean by "...not broken out yet on a closing basis."?  
 
 What is a "closing basis"?  >>  By "closing basis" I mean that the
stock has 
not broken out at its closing price. (Its high price-range yesterday was

28.54-this would have signaled a BO.  However, it closed at 27.44-below
its 
BO point.  Because of this horrible Bear we've been in, and the OB state
of 
the current Mkt., I am chary of buying on the BO unless the stock CLOSES

above its Pivot Point.  

     I also should add that (unless I'm really avid for the stock-as I
am for 
APPX) I generally would not buy on the daily charts during the Bear, but
wait 
to see if the BO on the weekly retrenches-in order to make sure  that
the BO 
is genuine.)

     >>Also, when you say "(it hasn't gone to a new high compared with
the 
stock's RSL when APPX formed its left lip)" are you referring to the RSL
high 
point just under the $27.75 price point? And if so why is this
important? I 
have not read (or at least I don't remember reading) anything in IBD
that 
requires this.<<        Yes, the $27.75 Left Lip at the end of Jan. is
what 
I'm referring to.  Although I don't have stats on the success of my
analysis, 
I believe that comparing how RSL acts at apexes, nadirs, left lips in 
comparison to right lips, and at double bottom troughs is important.
WON 
describes that the RSL is important-I'm just refining his belief that
RSL is 
important.  I suppose I'm surmising that if the RSL is weaker on the
right 
lip in comparison with the left lip (and both are about equal in price),
then 
the RSL is implying that the stock is currently weak-not strong.  (And
the 
conclusion is that even if the RSL gains strength on the Handle, I'm
less 
likely to cut it some slack because of its poor RSL on the right lip)

jans

- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.


- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.

Go to Jeff Salisbury LWGate Home Page.