Go to Jeff Salisbury LWGate Home Page.From: "John Calkins" <jcalkins@olypen.com>
Subject: Re: [CANSLIM] Should we concider OTHER intraday volume? ANSS
Date: Fri, 20 Jun 2003 16:21:15 -0700
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MessageHi Katherine,
I guess I was dragging out the microscope because of all the activity at =
the close with no real price movement but todays action was as you say =
the confirmation.
Your reminding us of the rules, Katherine, is absolutely priceless!
Thanks, JC
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Friday, June 20, 2003 8:40 AM
Subject: RE: [CANSLIM] Should we concider OTHER intraday volume? ANSS
Hi John,
I think too much focus on the pattern of activity intraday is too fine =
for CANSLIM investing and generally causes one to "overthink" a position =
and/or overtrade. While variations such as those you mention are of =
importance to a short term trader, the CANSLIM frame of reference is =
measured in days or weeks, so volume and/or price action should really =
be considered in a larger context.
To put the volume action for ANSS in perspective, look at it relative =
to prior days' intraday action:
http://www.cwhcharts.com/katherine/ANSSIntraday062003.JPG
The important thing is that ANSS broke out on volume >=3D150%. As if =
finished mid-range on a weak day in the market, there's some evidence =
there's some oomph in the stock. It would be more important to watch the =
follow-thru action in the days after the BO than to get too caught up in =
the intraday action itself.
Katherine
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]On Behalf Of John Calkins
Sent: Thursday, June 19, 2003 10:06 PM
To: canslim@lists.xmission.com
Subject: [CANSLIM] Should we concider OTHER intraday volume? ANSS
I purchaced ANSS today at midday after it crossed its pivot and =
proved its volume was high. My question is should we concider the =
"OTHER" action of the intraday volume? I watched the price stay steady =
near the middle of its daily trading range for the day, above its pivot =
but near the end of the day the volume suddenly doubled with no real =
price movement. Then right at the close it move up slightly with =
another doubling of the volume. Can some of this be concidered churning =
or is this large volume action normal. Or could it be concidered a sign =
of strength in the face of todays sell off? Now that I own the stock, I =
want to carefully watch to make sure any down movements are on low =
volumn but what about CANSLIM and watching this intraday volume?
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<DIV><FONT face=3DArial size=3D2>Hi Katherine,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I guess I was dragging out the =
microscope=20
because of all the activity at the close with no real price movement but =
todays=20
action was as you say the confirmation.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Your reminding us of the rules, =
Katherine, is=20
absolutely priceless!</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks, JC</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>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, June 20, 2003 =
8:40 AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] Should =
we concider=20
OTHER intraday volume? ANSS</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D187233515-20062003>Hi John,</SPAN></DIV>
<DIV><SPAN class=3D187233515-20062003></SPAN> </DIV>
<DIV><SPAN class=3D187233515-20062003>I think too much focus on the =
pattern of=20
activity intraday is too fine for CANSLIM investing and generally =
causes one=20
to "overthink" a position and/or overtrade. While variations such as =
those you=20
mention are of importance to a short term trader, the CANSLIM frame of =
reference is measured in days or weeks, so volume and/or price action =
should=20
really be considered in a larger context.</SPAN></DIV>
<DIV><SPAN class=3D187233515-20062003></SPAN><SPAN=20
class=3D187233515-20062003></SPAN> </DIV>
<DIV><SPAN class=3D187233515-20062003>To put the volume action for =
ANSS in=20
perspective, look at it relative to prior days' intraday =
action:</SPAN></DIV>
<DIV><SPAN class=3D187233515-20062003></SPAN> </DIV>
<DIV><SPAN class=3D187233515-20062003><A=20
=
href=3D"http://www.cwhcharts.com/katherine/ANSSIntraday062003.JPG">http:/=
/www.cwhcharts.com/katherine/ANSSIntraday062003.JPG</A></SPAN></DIV>
<DIV><SPAN class=3D187233515-20062003></SPAN> </DIV>
<DIV><SPAN class=3D187233515-20062003>The important thing is that ANSS =
broke out=20
on volume >=3D150%. As if finished mid-range on a weak day in the =
market,=20
there's some evidence there's some oomph in the stock. It would be =
more=20
important to watch the follow-thru action in the days after the BO =
than to get=20
too caught up in the intraday action itself.</SPAN></DIV>
<DIV><SPAN class=3D187233515-20062003></SPAN> </DIV>
<DIV><SPAN class=3D187233515-20062003>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>John=20
Calkins<BR><B>Sent:</B> Thursday, June 19, 2003 10:06 =
PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM] Should we =
concider=20
OTHER intraday volume? ANSS<BR><BR></FONT></DIV>
<DIV><FONT face=3DArial size=3D2>I purchaced ANSS today at midday =
after it=20
crossed its pivot and proved its volume was high. My question =
is=20
should we concider the "OTHER" action of the intraday volume? =
I=20
watched the price stay steady near the middle of its daily trading =
range for=20
the day, above its pivot but near the end of the day the volume =
suddenly=20
doubled with no real price movement. Then right at the close =
it move=20
up slightly with another doubling of the volume. Can some of =
this be=20
concidered churning or is this large volume action normal. Or could =
it be=20
concidered a sign of strength in the face of todays sell off? =
Now that=20
I own the stock, I want to carefully watch to make sure any down =
movements=20
are on low volumn but what about CANSLIM and watching this intraday=20
volume?</FONT><![if !supportEmptyParas]><![endif]><![if =
!supportEmptyParas]><![endif]><![if =
!supportEmptyParas]><![endif]></DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HT=
ML>
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Next Article (by Subject): [CANSLIM] When to Sell "Harold Josephson"
Previous Article (by Subject): RE: Re: [CANSLIM] Housing Stocks "Katherine Malm"
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