Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Definition of base and pivot point - QCOM
Date: Wed, 3 May 2000 21:48:26 -0400
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Carter, Like several other members, I would question the assumption that QCOM might be forming a c&h. Might be, but definitely too early to draw that assumption. If viewed more as a funnel, where its latest correction is more a function of market volatility than the stock's performance qualities, then I would use the March peak as the pivot, but only for short term trading mentality. I would watch for resistance to be met at higher levels, and assess how it performs then in terms of both volume and price appreciation on volume (as well as price declines on volume). Tom Worley stkguru@netside.net chat with me at ICQ # 5568838 get ICQ software at http://www.icq.com/icqhomepage.html - ----- Original Message ----- From: Carter Diggs <gcdiggs@erols.com> To: Canslim Digest <canslim-digest@lists.xmission.com> Sent: Wednesday, May 03, 2000 5:19 PM Subject: [CANSLIM] Definition of base and pivot point 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 - - - -
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