Go to Jeff Salisbury LWGate Home Page.From: "Chris Jones" <SwingKid104@attbi.com>
Subject: Re: [CANSLIM] SHFL Breaking Out and pivot point info
Date: Thu, 22 May 2003 17:12:02 -0700
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Joe -=20
I'm no Katherine, but I can quote IBD:
The pivot point is the spot where a rising stock faces the final layer =
of overhead resistance. Once it passes this threshold, there's less of a =
chance it will succumb to downside selling action. It's now free to =
break out and hit new highs. Look for the pivot point to come within 5% =
to 15% of the stock's old high.
To calculate the ideal buy price, add 0.10 point to the highest spot in =
the pullback. Back in the days when stock prices were given in =
fractions, an eighth of a point, or about 0.13, was added to calculate =
the pivot point. However, since stock prices now trade in decimals, =
spreads have narrowed and so has the amount - 0.10 - added to calculate =
the pivot point.
Check out the rest of the article at =
http://www.investors.com/editorial/editorialcontent.asp?secid=3D1104&stat=
us=3Darticle&id=3D132267047438732&secure=3D12&show=3D1
In short, the pivot point is $.10 above the highest point in the handle.
Chris
----- Original Message -----=20
From: jclark249@comcast.net=20
To: canslim@lists.xmission.com=20
Sent: Thursday, May 22, 2003 4:48 PM
Subject: Re: [CANSLIM] SHFL Breaking Out and pivot point info
How do most of you find teh pivot point on a stock, and
are the any good info sites to get this information.
Thanks in =
Advance
Joe clark
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Thursday, May 22, 2003 2:51 PM
Subject: RE: [CANSLIM] SHFL Breaking Out
Hi Chris,
A stock hasn't broken out unless it *closes* above the pivot on =
>=3D150% average daily volume. WON suggests, however, that if, intraday, =
a stock hits the pivot price on projected volume >=3D 150% ADV, then it =
makes sense to enter the position. If by day's end it falls back below =
the pivot, you can either sell it outright, or hold if you wish to take =
on the risk.
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Chris Jones
Sent: Thursday, May 22, 2003 12:12 PM
To: CANSLIM
Subject: [CANSLIM] SHFL Breaking Out
SHFL was a stock discussed a week or two ago. Today it seems to =
be breaking out of it's handle. However, though it is up $1.40 it is $1 =
below its intraday high. Seems to be a little resistance at $25. If it =
fails to close above the left side of its handle, would this be =
considered a failed breakout?
Chris
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<DIV><FONT size=3D2>Joe - </FONT></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV><FONT size=3D2>I'm no Katherine, but I can quote IBD:</FONT></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV>The pivot point is the spot where a rising stock faces the final =
layer of=20
overhead resistance. Once it passes this threshold, there=92s less of a =
chance it=20
will succumb to downside selling action. It=92s now free to break out =
and hit new=20
highs. Look for the pivot point to come within 5% to 15% of the =
stock=92s old=20
high.</DIV>
<DIV>
<P>To calculate the ideal buy price, add 0.10 point to the highest spot =
in the=20
pullback. Back in the days when stock prices were given in fractions, an =
eighth=20
of a point, or about 0.13, was added to calculate the pivot point. =
However,=20
since stock prices now trade in decimals, spreads have narrowed and so =
has the=20
amount - 0.10 - added to calculate the pivot point.</P>
<P><FONT size=3D2>Check out the rest of the article at <A=20
href=3D"http://www.investors.com/editorial/editorialcontent.asp?secid=3D1=
104&status=3Darticle&id=3D132267047438732&secure=3D12&sho=
w=3D1">http://www.investors.com/editorial/editorialcontent.asp?secid=3D11=
04&status=3Darticle&id=3D132267047438732&secure=3D12&show=
=3D1</A></FONT></P>
<P><FONT size=3D2>In short, the pivot point is $.10 above the highest =
point in the=20
handle.</FONT></P>
<P><FONT size=3D2>Chris</FONT></P></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Djclark249@comcast.net=20
href=3D"mailto:jclark249@comcast.net">jclark249@comcast.net</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, May 22, 2003 =
4:48=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] SHFL =
Breaking Out=20
and pivot point info</DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>How do most of you find teh pivot point on a =
stock,=20
and</FONT></DIV>
<DIV><FONT size=3D2>are the any good info sites to get this=20
information.</FONT></DIV>
<DIV><FONT size=3D2> =
=20
=
=20
=
=20
Thanks in=20
Advance</FONT></DIV>
<DIV><FONT size=3D2></FONT> </DIV>
<DIV><FONT size=3D2> =
=20
=
=20
=
=20
Joe=20
clark</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, May 22, 2003 =
2:51=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] SHFL =
Breaking=20
Out</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D367074118-22052003>Hi Chris,</SPAN></DIV>
<DIV><SPAN class=3D367074118-22052003></SPAN> </DIV>
<DIV><SPAN class=3D367074118-22052003>A stock hasn't broken out =
unless it=20
*closes* above the pivot on >=3D150% average daily volume. WON =
suggests,=20
however, that if, intraday, a stock hits the pivot price on =
projected=20
volume >=3D 150% ADV, then it makes sense to enter the position. =
If by=20
day's end it falls back below the pivot, you can either sell it =
outright, or=20
hold if you wish to take on the risk.</SPAN></DIV>
<DIV><SPAN class=3D367074118-22052003></SPAN> </DIV>
<DIV><SPAN class=3D367074118-22052003>Katherine</SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Chris =
Jones<BR><B>Sent:</B> Thursday, May 22, 2003 12:12 =
PM<BR><B>To:</B>=20
CANSLIM<BR><B>Subject:</B> [CANSLIM] SHFL Breaking=20
Out<BR><BR></FONT></DIV>
<DIV><FONT face=3DArial size=3D2>SHFL was a stock discussed a week =
or two=20
ago. Today it seems to be breaking out of it's handle. =
However, though it is up $1.40 it is $1 below its intraday =
high. =20
Seems to be a little resistance at $25. If it fails to =
close=20
above the left side of its handle, would this be considered a =
failed=20
breakout?</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial=20
size=3D2>Chris</FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY>=
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