Re: [CANSLIM] COLM

From: Mike <PatternDT@SoftHome.net>
Subject: Re: [CANSLIM] COLM
Date: Thu, 05 Jun 2003 07:53:00 -0400

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A wedge is between a triangle and an trend channel, but the implications 
are different.  An ascending triangle can be caused by a large supply of 
stock sitting out there at a limit with the buying interest increasing, 
when the supply offered at limit is exhausted it should rock.  On a wedge 
though while both the lows and the highs are moving up, the sellers are not 
increasing enthusiasm as fast as the buyers, which is an unstable 
situation.  The wedge should be against the longer trend, the volume should 
decrease until the breakout, a breakout should be at least the length of 
the base.  Here's some wedges;
http://www.chartpatterns.com/wedgechartsstocks.htm
MikeM

At 6/5/2003  12:25 AM, you wrote:
>Mike, this might be a silly question, but what is a
>wedging action?
>
>tomas
>
>--- michael_niemotka@baxter.com wrote:
> > Is COLM showing a wedging action?
> >

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