RE: [CANSLIM] usna, stcr

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] usna, stcr
Date: Mon, 26 May 2003 22:38:42 -0500
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Hi Tomas,

If I were looking at action on 5/6, I might have considered 4/22 as the
pivot, but the "handle" is upward drifting along its lows and therefore
poorly formed. My general conclusion in that case is that the right side of
the cup hasn't yet finished off and that a proper handle hasn't yet formed,
giving the all clear for a good setup and impending breakout. See the notes
on my original daily chart demonstrating the upward drift from 4/22 until
the real handle forms.

In retrospect on a chart like this, you might say, "so what, it didn't
pullback all that much in the actual handle and it broke out any way."
Problem is, for every stock that looks like this, there are 20 that had a
poorly formed handle, staged a false breakout and then rolled over into
oblivion. Those aren't generally the stocks that come up for discussion, so
the point gets lost in the parade of good stocks that worked.

Katherine

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tomas
Sent: Monday, May 26, 2003 8:51 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] usna, stcr


Katherine,

I originally interprest the pivot to be at 4/22.
And the BO could be 5/6.  Or you could interpret the
pivot point to be on 5/6 and BO on 5/15.  To me, the
two interpretations look to be right.  If you see the
chart on 5/6, do you think you would have the first
interpretation?


tomas

- --- Katherine Malm <kmalm@earthlink.net> wrote:
> Hi Dave,
>
> On STCR, I wouldn't agree the breakout was on 5/6.
> It's easier to
> demonstrate by looking first at the weekly chart,
> where you can see the last
> bit of action on the right side of the cup and then
> the 1 week handle.
>
>
http://www.cwhcharts.com/katherine/STCRWkly052303.JPG
>
> Here's a close-up of the daily action in the cup,
> showing when the pivot
> formed to start the handle and the subsequent
> breakout on 5/15:
>
> http://www.cwhcharts.com/katherine/STCR052303.JPG
>
> Katherine
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf
> Of david rossing
> Sent: Saturday, May 24, 2003 9:25 AM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] usna, stcr
>
>
> Tomas,
> Thanks for the reply.
> I've been holding USNA for a while now.  I guess
> i'll hold a little
> longer and see if it goes on again from here.
>
> For STCR, I was actually looking at a pivot on 5/6
> of 12.3.  Any
> thoughts on what is the "right" pivot here?  I
> bought on the breakout
> past that before I sent my questions last week.
>
> Dave
>
> --- Tomas <tomas986@yahoo.com> wrote:
> > Dave,
> >
> > USNA fundies looks good (it's on my watchlist).
> The
> > charts looks good.  If you have it already, I
> don't
> > see any reason to sell yet.  Looks like it's going
> > sideway, swallowing the recent gains.
> >
> > As for STCR, if you are looking to buy, I think it
> is
> > a little too late.  The left side of cup is at
> 1/30.
> > Pivot point is on 4/22(beginning of handle) at
> $11.95.
> >  The BO could be 5/6 at $12.37.  Volume was up
> that
> > day, but price did not go up that much.  Not sure
> if
> > that is a good BO.  Maybe a better BO would be
> 5/14 at
> > $12.45.  A buy at either BO day would be good
> since it
> > did not go below %8 of the buy point.  However,
> > currently, it is extended from the base for a buy
> > point.
> >
> > The fundies looks good.  Good earnings and RS.
> The
> > only thing I would worry about is the industry
> > strength.  That industry is definitely not one of
> the
> > better ones.
> >
> > just my $.02
> > tomas
> >
> >
> > 4-4  6.82/7  8.75/11  15.57/18
> >
> > --- david rossing <pimpdaddycueball@yahoo.com>
> wrote:
> > > I was just wondering about opinions on two
> stocks.
> > >
> > > USNA broke out of a base back in October and has
> > > been going up for a
> > > while.  It still looks like good earnings and
> > > revenue growth.  In the
> > > past week or so, the price has been dropping on
> > > increasing volume.  On
> > > Friday, it went up on low volume.  Is this price
> > > action a good sell
> > > signal to get out, or maybe just a yellow flag?
> > >
> > > The second is STCR.  It just broke out of what
> looks
> > > like a CWH to me.
> > > It has good earnings and rev growth.  The RS
> line is
> > > not quite at new
> > > highs in the breakout over the past two days and
> the
> > > industry doesn't
> > > look great.
> > >
> > > Any opinions on fundamentals or charts would be
> > > greatly appreciated.
> > > Thanks.
> > >
> > > Dave
> > >
> > >
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