Go to Jeff Salisbury LWGate Home Page.From: "Dave Wood" <davewood@together.net>
Subject: Re: [CANSLIM] FDRY volume
Date: Fri, 22 Aug 2003 12:02:48 -0400
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Katherine,
As always, Thanks. I just started using Ameritrade streamer, and am =
trying to integrate real time quotes into my system. Your answer helps =
me add another piece to the puzzle.
Dave
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Friday, August 22, 2003 11:51 AM
Subject: RE: [CANSLIM] FDRY volume
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?=20
Thanks,
Dave
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<DIV><FONT face=3DArial size=3D2>Katherine,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>As always, Thanks. I just started using =
Ameritrade=20
streamer, and am trying to integrate real time quotes into my system. =
Your=20
answer helps me add another piece to the puzzle.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Dave</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></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, August 22, 2003 =
11:51=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] FDRY =
volume</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D421314615-22082003>Hi Dave,</SPAN></DIV>
<DIV><SPAN class=3D421314615-22082003></SPAN> </DIV>
<DIV><SPAN class=3D421314615-22082003>I call something like this a =
"slow=20
breakout." In the strictest definition of the term, a breakout is =
simply a=20
trade above an identifiable pivot, regardless of volume. In FDRY's =
case, it=20
formed a 6-1/2 week flat base from 18.51 (7/8/03) until yesterday's =
rise above=20
the 18.51 pivot. Trading activity which supports this rise above =
recent=20
consolidation is positive. It's not uncommon for a stock to trade =
above=20
average, but below the required 140-150% ADV on the actual breakout =
day. In a=20
case like this the action in the next day or 2 confirms the move and=20
collectively shows the high volume accumulation of shares above the =
pivot. In=20
retrospect, if one were to view the B/O on a weekly chart, they would =
then see=20
the requisite high volume move.</SPAN></DIV>
<DIV><SPAN class=3D421314615-22082003></SPAN> </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> </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)=20
some larger trades occur. I saw an 800,400, and 10,000 share trade =
go by at=20
these prices. Does this indicate institutions are supporting the =
breakout?=20
Is this generally a good sign? </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Dave</FONT></DIV>
<DIV><FONT face=3DArial=20
size=3D2></FONT> </DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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Next Article (by Author): RE: [CANSLIM] List technical question, ways to view messages "Katherine Malm"
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