Re: [CANSLIM] Definition of base and pivot point

From: "Tom Gumpel" <tgumpel@vms.huji.ac.il>
Subject: Re: [CANSLIM] Definition of base and pivot point
Date: Thu, 4 May 2000 08:20:54 -0700

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I disagree, since there was no reduction of volume along the base, and that
base (at a support of about 92) still isn't long enough (looking for 6 weeks
or so).


- ----- Original Message -----
From: "Earl Setser" <esetser@csolutions.net>
To: <canslim@lists.xmission.com>
Sent: Wednesday, May 03, 2000 5:47 PM
Subject: Re: [CANSLIM] Definition of base and pivot point


> WON was giving generalizations in this case.  A little later, he says,
> "Coming out of a major bear market, some patterns that have decreased 50%
> to 60% or more can succeed.  The percent decline is, in these cases, a
> function of the severity of the bear market and the extent of the stock's
> prior price runup."
>
> I believe QCOM was down about 46% on a closing basis at it's worst.  I
> believe that it fits well into WON's description given the extreme run-up
> it had last year and the very strong downward pressure by the NASDAQ over
> the last 6 weeks or so.
>
>
> At 02:38 PM 5/3/00 -0700, you wrote:
> >IMHO QCOM cannot form a C&H since it is more than 30% below the high and
> >therefore by definition has dropped too far to make a C&H according to
> HTMMIS.
> >
> >On 02:19 PM 5/3/00, Carter Diggs Said:
> >>Hello folks
> >>
> >>I was looking at QCOM and trying to decide where a (future) pivot point
> >>might be, assuming it's forming the right side of a cup.  Will the pivot
> >>point be at the level of the January blowout peak or the late March
> >>peak? Or would you wait and see if it meets resistance at the late March
> >>peak or goes on through it?
> >>
> >>Still trying to learn.
> >>
> >>Carter
> >
> >Tim Fisher
> >Ore-Rock-On and Pacific Fishery Biologists WWW Sites
> >
> >Tim@OreRockOn.com
> >WWW: http://OreRockOn.com
> >See naked fish and rocks!
> >
> >
> >-
> >
> >
> >
>
>
> -
>


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