Re: [CANSLIM] Definition of base and pivot point

From: Earl Setser <esetser@csolutions.net>
Subject: Re: [CANSLIM] Definition of base and pivot point
Date: Wed, 03 May 2000 18:47:51 -0600

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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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