RE: [CANSLIM] FDRY volume

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] FDRY volume
Date: Fri, 22 Aug 2003 10:51:44 -0500

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Hi Dave,

I call something like this a "slow breakout." In the strictest definition of the
term, a breakout is simply a trade above an identifiable pivot, regardless of
volume. In FDRY's case, it formed a 6-1/2 week flat base from 18.51 (7/8/03)
until yesterday's rise above the 18.51 pivot. Trading activity which supports
this rise above recent consolidation is positive. It's not uncommon for a stock
to trade above average, but below the required 140-150% ADV on the actual
breakout day. In a case like this the action in the next day or 2 confirms the
move and collectively shows the high volume accumulation of shares above the
pivot. In retrospect, if one were to view the B/O on a weekly chart, they would
then see the requisite high volume move.

Katherine
  -----Original Message-----
  From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Dave Wood
  Sent: Friday, August 22, 2003 10:36 AM
  To: canslim@lists.xmission.com
  Subject: [CANSLIM] FDRY volume


  Hi,

  I did not buy FDRY on yesterday's breakout because volume wasn't up 130%. But
I have been watching it today, and have a question. When the stock trades back
to its breakout range ( 18.56-18.61) some larger trades occur. I saw an 800,400,
and 10,000 share trade go by at these prices. Does this indicate institutions
are supporting the breakout? Is this generally a good sign?

  Thanks,

  Dave

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<DIV><SPAN class=3D421314615-22082003>Hi Dave,</SPAN></DIV>
<DIV><SPAN class=3D421314615-22082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D421314615-22082003>I call something like this a "slow =

breakout." In the strictest definition of the term, a breakout is simply =
a trade=20
above an identifiable pivot, regardless of volume. In FDRY's case, it =
formed a=20
6-1/2 week flat base from 18.51 (7/8/03) until yesterday's rise above =
the 18.51=20
pivot. Trading activity which supports this rise above recent =
consolidation is=20
positive. It's not uncommon for a stock to trade above average, but =
below the=20
required 140-150% ADV on the actual breakout day. In a case like this =
the action=20
in the next day or 2 confirms the move and collectively shows the high =
volume=20
accumulation of shares above the pivot. In retrospect, if one were to =
view the=20
B/O on a weekly chart, they would then see the requisite high volume=20
move.</SPAN></DIV>
<DIV><SPAN class=3D421314615-22082003></SPAN>&nbsp;</DIV>
<DIV><SPAN class=3D421314615-22082003>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>Dave=20
  Wood<BR><B>Sent:</B> Friday, August 22, 2003 10:36 AM<BR><B>To:</B>=20
  canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM] FDRY=20
  volume<BR><BR></FONT></DIV>
  <DIV><FONT face=3DArial size=3D2>Hi,</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>I did not buy FDRY on yesterday's =
breakout=20
  because volume wasn't up 130%. But I have been watching it today, and =
have a=20
  question. When the stock trades back to its breakout range ( =
18.56-18.61) some=20
  larger trades occur. I saw an 800,400, and 10,000 share trade go by at =
these=20
  prices. Does this indicate institutions are supporting the breakout? =
Is this=20
  generally a good sign? </FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>Thanks,</FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial size=3D2>Dave</FONT></DIV>
  <DIV><FONT face=3DArial =
size=3D2></FONT>&nbsp;</DIV></BLOCKQUOTE></BODY></HTML>

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