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Subject: canslim-digest V2 #2666
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canslim-digest Saturday, July 27 2002 Volume 02 : Number 2666
In this issue:
[CANSLIM] Fanus - CTSH
[CANSLIM] Worley's Weekend Weeview
Re: [CANSLIM] Follow Through Day
Re: [CANSLIM] Follow Through Day
Re: [CANSLIM] Follow Through Day
Re: [CANSLIM] Follow Through Day
Re: [CANSLIM] Follow Through Day
Re: [CANSLIM] Follow Through Day
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Date: Sat, 27 Jul 2002 14:55:55 EDT
From: RWElmer@aol.com
Subject: [CANSLIM] Fanus - CTSH
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Fanus,
I had CTSH on my short list of stocks for a breakout all week, (BLUD and CECO
were the other two I had) but the Market kept me from acting on it. I wish
you success with it; I personally think it has merit, although it seems a bit
overvalued. Had M been better, I might have bitten too.
Disclosure: I am not strictly CANSLIM, so I can't speak from that perspective.
Best of luck. If Market holds you could have the last laugh.
Regards,
Robert W. Elmer
Coldwell Banker First Shasta
2837 Bechelli Ln.
Redding, CA 96002
RWElmer@aol.com
221-9556 or 1-800-348-7939 ext.156
www.robertelmer.com
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Fanus,
I had CTSH on my short list of stocks for a breakout all week, (BLUD and CECO were the other two I had) but the Market kept me from acting on it. I wish you success with it; I personally think it has merit, although it seems a bit overvalued. Had M been better, I might have bitten too.
Disclosure: I am not strictly CANSLIM, so I can't speak from that perspective.
Best of luck. If Market holds you could have the last laugh.
Regards,
Robert W. Elmer
Coldwell Banker First Shasta
2837 Bechelli Ln.
Redding, CA 96002
RWElmer@aol.com
221-9556 or 1-800-348-7939 ext.156
www.robertelmer.com
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Date: Sat, 27 Jul 2002 14:56:34 -0400
From: "Tom Worley"
Subject: [CANSLIM] Worley's Weekend Weeview
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"M"
Equity mutual funds, by two different reports, had net outflow of cash =
exceeding $11 billion during the week of 7/15/02, worst week this year. =
By comparison, Lipper reported that stock funds lost $13.8 billion =
during the entire month of June, and that was the third largest outflow =
ever. During that month, bond funds took in a net $18 billion.
Congress passed the corporate governance bill, Presidential approval is =
expected. And we saw the founder and sons of Adelphia taken away in =
handcuffs, so there is hope for consequences for those that loot public =
companies. And Worldcom execs are expected to be charged as well.=20
And DOW 30, NYSE Composite, and S&P500 all managed to break their nine =
week losing streak. Naz and R2000 finished the week with relatively =
small losses.
- -------------------------------------------------------------------------=
- -------
ECONOMICS
Durable goods orders plunged 3.8% during June, expectations were for a =
rise of 0.5%. One month does not make a trend, so hopefully this is not =
a sign of consumer spending being affected by the fall in the markets.
Existing home sales fell over 11% in June, while new home sales rose =
0.5%. Expectations were for unchanged on existing, and a small decline =
on new home sales. The latter is a better indicator of sentiment for big =
spending, as it is based on contracts rather than closing.
New unemployment claims were expected to be essentially unchanged, =
instead dropped to 362,000, lowest in 17 months. The 4 week moving =
average fell to 384,500.=20
Next week is a busy one for economics followers, with the first report =
of Q2 GDP, and the most important Unemployment report on Friday.
- -------------------------------------------------------------------------=
- -------
WORLEY'S WATCHLIST WANNABES=20
This list is in no way intended to recommend any stocks to the group. It =
is a part of my regular assessment of the health of CANSLIM's "M" and, =
as the name implies, only intended to identify some stocks with =
constructive chart patterns that may be worth WATCHING (and of course =
doing your own due diligence). I am employed in Operations by a US =
Broker Dealer, however everything presented by me is strictly my own =
ideas and in no way should be taken to reflect the views or opinions of =
my employer.
I typically list stocks with both RS and EPS ranking of 80 or better, =
and try to exclude stocks undergoing any merger / acquisition / buyout =
scenario. I no longer will look at earnings forecast for this year and =
next due the confusing data presented by DGO. I do no other due =
diligence, that is your responsibility. I will note any CANSLIM patterns =
I see, such as c&h, double (or triple) bottoms, or flat bases (shown as =
Bx where "x" is the # of weeks, IMO). I will also note LLUR (Lower Left =
Upper Right) even though it is not exactly a CANSLIM pattern.
The population of stocks I am reviewing this weekend is so small it =
almost is not worth reviewing, in line with the days of single and low =
double digit nr of stocks hitting new highs.
BLUD - LLUR
CHCO - B4
CTSH - B2 or high handle, all on how you read the chart
FCBP - interesting cup
HBEK - B4
I won't even bother with my usual "happy hunting", this list is =
pathetic!!
Tom Worley
stkguru@bellsouth.net
AIM: TexWorley
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"M"
Equity mutual funds, by two different reports, =
had net=20
outflow of cash exceeding $11 billion during the week of 7/15/02, worst =
week=20
this year. By comparison, Lipper reported that stock funds lost $13.8 =
billion=20
during the entire month of June, and that was the third largest outflow =
ever.=20
During that month, bond funds took in a net $18 =
billion.
Congress passed the corporate governance bill,=20
Presidential approval is expected. And we saw the founder and sons of =
Adelphia=20
taken away in handcuffs, so there is hope for consequences for those =
that loot=20
public companies. And Worldcom execs are expected to be charged as well. =
And DOW 30, NYSE Composite, and S&P500 all =
managed to=20
break their nine week losing streak. Naz and R2000 finished the week =
with=20
relatively small losses.
ECONOMICS
Durable goods orders plunged 3.8% during June,=20
expectations were for a rise of 0.5%. One month does not make a trend, =
so=20
hopefully this is not a sign of consumer spending being affected by the =
fall in=20
the markets.
Existing home sales fell over 11% in June, while =
new home=20
sales rose 0.5%. Expectations were for unchanged on existing, and a =
small=20
decline on new home sales. The latter is a better indicator of sentiment =
for big=20
spending, as it is based on contracts rather than closing.
New unemployment claims were expected to be =
essentially=20
unchanged, instead dropped to 362,000, lowest in 17 months. The 4 week =
moving=20
average fell to 384,500.
Next week is a busy one for economics followers, =
with the=20
first report of Q2 GDP, and the most important Unemployment report on=20
Friday.
WORLEY'S WATCHLIST WANNABES=20
This list is in no way intended to recommend any =
stocks to=20
the group. It is a part of my regular assessment of the health of =
CANSLIM's "M"=20
and, as the name implies, only intended to identify some stocks with=20
constructive chart patterns that may be worth WATCHING (and of course =
doing your=20
own due diligence). I am employed in =
Operations=20
by a US Broker Dealer, however everything presented by me is strictly my =
own=20
ideas and in no way should be taken to reflect the views or opinions of =
my=20
employer.
I typically list stocks with both RS and EPS =
ranking of 80=20
or better, and try to exclude stocks undergoing any merger / acquisition =
/=20
buyout scenario. I no longer will look at earnings forecast =
for this=20
year and next due the confusing data presented by DGO. I do no other due =
diligence, that is your responsibility. I will note any CANSLIM patterns =
I see,=20
such as c&h, double (or triple) bottoms, or flat bases (shown as Bx =
where=20
"x" is the # of weeks, IMO). I will also note LLUR (Lower Left Upper =
Right) even=20
though it is not exactly a CANSLIM pattern.
The population of stocks I am reviewing this =
weekend is so=20
small it almost is not worth reviewing, in line with the days of single =
and low=20
double digit nr of stocks hitting new highs.
BLUD - LLUR
CHCO - B4
CTSH - B2 or high handle, all on how you read the chart
FCBP - interesting cup
HBEK - B4
I won't even bother with my usual "happy hunting", this list is=20
pathetic!!
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------------------------------
Date: Sat, 27 Jul 2002 14:15:21 -0500
From: "Katherine Malm"
Subject: Re: [CANSLIM] Follow Through Day
This is a multi-part message in MIME format.
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Donald,
All the folks who are familiar with CANSLIM are familiar with the =
concept of the Follow Through Day, though consistently reading the =
charts day to day makes it easier to interpret the action. It's a =
straight forward idea, but one that takes a practiced eye and is well =
worth the effort in learning.
If you are more inclined to use a mechanical tool than interpret on =
your own, if you follow the link I provided, not only does it provide =
information on the topic, but also leads you to Bill Lee's excellent =
Excel add-in which does just as you suggest.
Katherine
----- Original Message -----=20
From: Donald Wallker=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 1:02 PM
Subject: Re: [CANSLIM] Follow Through Day
Katherine -- I've looked over the materials referred to in your note =
and, at this junctureit would seem to be the decent thing for dan and =
otheres who have digested these materials to give us all a heads up when =
they have concluded that is a good time to start buying or selling =
stocks. Not too long ago I was I became acquainted with a brilliant =
engineer who devised a computer program that utilized a mathematically =
expressed feedback control formula stored in a microprocessor for =
controlling the rotation of a d.c motor in any mechanical environment. . =
I'm sure that someone out there has embedded the prognostications of the =
materials you have referred me to in a computer program for plotting buy =
and sell signals for at least the NASDAQ. If there is, please let me =
know where I can find it. However, I would prefer getting a heads up =
signal from a member of the group. =20
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 12:38 PM
Subject: Re: [CANSLIM] Follow Through Day
Donald,
Dan is referring to the follow through day on the market *as a =
whole*. You can read about O'Neil's concepts at =
http://www.market-testercom/primer.htm or in O'Neil's book How to Make =
Money in Stocks (HTMMIS)
Katherine
----- Original Message -----=20
From: Donald Wallker=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 8:52 AM
Subject: Re: [CANSLIM] Follow Through Day
Dan ---Is your message personal or would you like to share its =
content with the rest of the group? I take it that you are referring to =
a breakout of a stock that you and another member of this forum are =
following.=20
Donald
----- Original Message -----=20
From: Dan Forant=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 8:19 AM
Subject: [CANSLIM] Follow Through Day
Per 2nd edition HTMMIS we're waiting on a follow through day now =
from the break out 7/24, confirmation would be 1-2%, days 4-10, with =
increase in volume from day before?
DanF
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Donald,
All the folks who are familiar with CANSLIM are familiar with the =
concept=20
of the Follow Through Day, though consistently reading the charts day to =
day=20
makes it easier to interpret the action. It's a straight forward idea, =
but one=20
that takes a practiced eye and is well worth the effort in =
learning.
If you are more inclined to use a mechanical tool than =
interpret on=20
your own, if you follow the link I provided, not only does it provide=20
information on the topic, but also leads you to Bill Lee's excellent =
Excel=20
add-in which does just as you suggest.
Katherine
----- Original Message -----
From:=20
Donald =
Wallker=20
Sent: Saturday, July 27, 2002 =
1:02=20
PM
Subject: Re: [CANSLIM] Follow =
Through=20
Day
Katherine -- I've looked over the =
materials=20
referred to in your note and, at this junctureit would seem to be the =
decent=20
thing for dan and otheres who have digested these materials to give us =
all a=20
heads up when they have concluded that is a good time to start buying =
or=20
selling stocks. Not too long ago I was I became =
acquainted=20
with a brilliant engineer who devised a computer program that =
utilized a=20
mathematically expressed feedback control =
formula stored in a=20
microprocessor for controlling the rotation of a d.c motor in any mechanical environment. . I'm sure that =
someone out=20
there has embedded the prognostications of the materials you have =
referred me=20
to in a computer program for plotting buy and sell signals for at =
least the=20
NASDAQ. If there is, please let me know where I can find=20
it. However, I would prefer getting a heads up signal from =
a=20
member of the group.
----- Original Message -----
From:=20
Katherine=20
Malm
Sent: Saturday, July 27, 2002 =
12:38=20
PM
Subject: Re: [CANSLIM] Follow =
Through=20
Day
Donald,
Dan is referring to the follow through day on the market *as a =
whole*.=20
You can read about O'Neil's concepts at
http://www.market-tester=
com/primer.htm or=20
in O'Neil's book How to Make Money in Stocks (HTMMIS)
Katherine
----- Original Message ----- =
From:=20
Donald =
Wallker=20
To: canslim@lists.xmission.com=
=20
Sent: Saturday, July 27, =
2002 8:52=20
AM
Subject: Re: [CANSLIM] =
Follow Through=20
Day
Dan ---Is your message personal =
or would you=20
like to share its content with the rest of the group? I take =
it that=20
you are referring to a breakout of a stock that you =
and =20
another member of this forum are following.
Donald
----- Original Message ----- =
From:=20
Dan=20
Forant
To: canslim@lists.xmission.com=
=20
Sent: Saturday, July 27, =
2002 8:19=20
AM
Subject: [CANSLIM] Follow =
Through=20
Day
Per 2nd edition =
HTMMIS we're waiting=20
on a follow through day now from the break out 7/24, =
confirmation would=20
be 1-2%, days 4-10, with increase in volume from day=20
before?
DanF
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Date: Sat, 27 Jul 2002 15:14:59 EDT
From: Chazmoore@aol.com
Subject: Re: [CANSLIM] Follow Through Day
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Donald: You are correct. It has been done. See www.cwhcharts.com and
www.market-tester.com
Charley
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Donald: You are correct. It has been done. See www.cwhcharts.com and www.market-tester.com
Charley
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------------------------------
Date: Sat, 27 Jul 2002 13:38:47 -0600
From: "Patrick Wahl"
Subject: Re: [CANSLIM] Follow Through Day
I don't think this is a fair assertion, anything anyone provides to this group is done
voluntarily, no one is obligated to tell anyone anything. FTD's are fairly basic to
Canslim and something each of us should be able to do on our own, although I don't
mind someone pointing them out.
On 27 Jul 2002 at 14:02, Donald Wallker wrote:
> Katherine -- I've looked over the materials referred to in your note and, at
> this junctureit would seem to be the decent thing for dan and otheres who
> have digested these materials to give us all a heads up when they have
- -
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- -In the email body, write "subscribe canslim" or
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------------------------------
Date: Sat, 27 Jul 2002 13:38:45 -0600
From: "Patrick Wahl"
Subject: Re: [CANSLIM] Follow Through Day
There are very few stocks that are really setup as buys at this point anyway. My
bare bones scan for growth stocks that I run on weekends turned up 7 stocks today
(CTSH and FCN are 2 of them), last spring about 70 stocks were popping up. It
uses 4 conditions, I think the condition that is kicking out almost every stock is the
one that the close must be greater than the 50 day moving average. So even after
a follow through day, there will be slim pickings for a while.
On 27 Jul 2002 at 8:24, Tom Worley wrote:
> technically, yes, but until there is conviction that the bear market has reversed, or at least gives room for a substantial rally, then any follow thru will be suspect
>
> ----- Original Message -----
> From: Dan Forant
> To: canslim@lists.xmission.com
> Sent: Saturday, July 27, 2002 8:19 AM
> Subject: [CANSLIM] Follow Through Day
>
>
> Per 2nd edition HTMMIS we're waiting on a follow through day now from the break out 7/24, confirmation would be 1-2%, days 4-10, with increase in volume from day before?
>
> DanF
>
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------------------------------
Date: Sat, 27 Jul 2002 16:49:43 -0400
From: "Tom Worley"
Subject: Re: [CANSLIM] Follow Through Day
Patrick, we fell so far, so fast, during the past month that I find very few
decent stocks still holding above their 50 dma. Have you tried running the
same scan using the 200 dma instead, and see what you get?
- ----- Original Message -----
From: "Patrick Wahl"
To:
Sent: Saturday, July 27, 2002 3:38 PM
Subject: Re: [CANSLIM] Follow Through Day
There are very few stocks that are really setup as buys at this point
anyway. My
bare bones scan for growth stocks that I run on weekends turned up 7 stocks
today
(CTSH and FCN are 2 of them), last spring about 70 stocks were popping up.
It
uses 4 conditions, I think the condition that is kicking out almost every
stock is the
one that the close must be greater than the 50 day moving average. So even
after
a follow through day, there will be slim pickings for a while.
On 27 Jul 2002 at 8:24, Tom Worley wrote:
> technically, yes, but until there is conviction that the bear market has
reversed, or at least gives room for a substantial rally, then any follow
thru will be suspect
>
> ----- Original Message -----
> From: Dan Forant
> To: canslim@lists.xmission.com
> Sent: Saturday, July 27, 2002 8:19 AM
> Subject: [CANSLIM] Follow Through Day
>
>
> Per 2nd edition HTMMIS we're waiting on a follow through day now from the
break out 7/24, confirmation would be 1-2%, days 4-10, with increase in
volume from day before?
>
> DanF
>
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------------------------------
Date: Sat, 27 Jul 2002 15:51:46 -0400
From: "Donald Wallker"
Subject: Re: [CANSLIM] Follow Through Day
This is a multi-part message in MIME format.
- ------=_NextPart_000_001C_01C23585.82D2A2C0
Content-Type: text/plain;
charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable
Tom--- I am not expecting anyone to tell me what to do. I make my own =
decisions based upon any input I can get. For example, nobody told me to =
buy, for example, DOCC, FRED, CTSH or SCRL, all of which ar ahead of my =
buying price. I listen to everybody and draw my own conclusions. =
Whatever anyone says is simply inoput to a much larger picture.=20
----- Original Message -----=20
From: Tom Worley=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 2:50 PM
Subject: Re: [CANSLIM] Follow Through Day
Donald, if you are expecting any of us here to tell you what you =
should be doing, you are in the wrong group. We have all done our =
individual homework, and continue to do so. And we are here to learn, so =
we can continue making decisions for ourselves. If you want hype and =
touting, I respectfully suggest you adjourn yourself to some newsgroup =
or Yahoo chat board instead.
----- Original Message -----=20
From: Donald Wallker=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 2:02 PM
Subject: Re: [CANSLIM] Follow Through Day
Katherine -- I've looked over the materials referred to in your note =
and, at this junctureit would seem to be the decent thing for dan and =
otheres who have digested these materials to give us all a heads up when =
they have concluded that is a good time to start buying or selling =
stocks. Not too long ago I was I became acquainted with a brilliant =
engineer who devised a computer program that utilized a mathematically =
expressed feedback control formula stored in a microprocessor for =
controlling the rotation of a d.c motor in any mechanical environment. . =
I'm sure that someone out there has embedded the prognostications of the =
materials you have referred me to in a computer program for plotting buy =
and sell signals for at least the NASDAQ. If there is, please let me =
know where I can find it. However, I would prefer getting a heads up =
signal from a member of the group. =20
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 12:38 PM
Subject: Re: [CANSLIM] Follow Through Day
Donald,
Dan is referring to the follow through day on the market *as a =
whole*. You can read about O'Neil's concepts at =
http://www.market-testercom/primer.htm or in O'Neil's book How to Make =
Money in Stocks (HTMMIS)
Katherine
----- Original Message -----=20
From: Donald Wallker=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 8:52 AM
Subject: Re: [CANSLIM] Follow Through Day
Dan ---Is your message personal or would you like to share its =
content with the rest of the group? I take it that you are referring to =
a breakout of a stock that you and another member of this forum are =
following.=20
Donald
----- Original Message -----=20
From: Dan Forant=20
To: canslim@lists.xmission.com=20
Sent: Saturday, July 27, 2002 8:19 AM
Subject: [CANSLIM] Follow Through Day
Per 2nd edition HTMMIS we're waiting on a follow through day now =
from the break out 7/24, confirmation would be 1-2%, days 4-10, with =
increase in volume from day before?
DanF
- ------=_NextPart_000_001C_01C23585.82D2A2C0
Content-Type: text/html;
charset="iso-8859-1"
Content-Transfer-Encoding: quoted-printable
Tom--- I am not expecting anyone to =
tell me what to=20
do. I make my own decisions based upon any input I can get. For =
example,=20
nobody told me to buy, for example, DOCC, FRED, CTSH or SCRL, all of =
which ar=20
ahead of my buying price. I listen to everybody and draw my own =
conclusions.=20
Whatever anyone says is simply inoput to a much larger=20
picture.
----- Original Message -----
From:=20
Tom=20
Worley
Sent: Saturday, July 27, 2002 =
2:50=20
PM
Subject: Re: [CANSLIM] Follow =
Through=20
Day
Donald, if you are expecting any of us here to =
tell you=20
what you should be doing, you are in the wrong group. We have all done =
our=20
individual homework, and continue to do so. And we are here to learn, =
so we=20
can continue making decisions for ourselves. If you want hype and =
touting, I=20
respectfully suggest you adjourn yourself to some newsgroup or Yahoo =
chat=20
board instead.
----- Original Message -----=20
Sent: Saturday, July 27, 2002 2:02 PM
Subject: Re: [CANSLIM] Follow Through Day
Katherine -- I've looked over the =
materials=20
referred to in your note and, at this junctureit would seem to be the =
decent=20
thing for dan and otheres who have digested these materials to give us =
all a=20
heads up when they have concluded that is a good time to start buying =
or=20
selling stocks. Not too long ago I was I became =
acquainted=20
with a brilliant engineer who devised a computer program that =
utilized a=20
mathematically expressed feedback control =
formula stored in a=20
microprocessor for controlling the rotation of a d.c motor in any mechanical environment. . I'm sure that =
someone out=20
there has embedded the prognostications of the materials you have =
referred me=20
to in a computer program for plotting buy and sell signals for at =
least the=20
NASDAQ. If there is, please let me know where I can find=20
it. However, I would prefer getting a heads up signal from =
a=20
member of the group.
----- Original Message -----
From:=20
Katherine=20
Malm
Sent: Saturday, July 27, 2002 =
12:38=20
PM
Subject: Re: [CANSLIM] Follow =
Through=20
Day
Donald,
Dan is referring to the follow through day on the market *as a =
whole*.=20
You can read about O'Neil's concepts at
http://www.market-tester=
com/primer.htm or=20
in O'Neil's book How to Make Money in Stocks (HTMMIS)
Katherine
----- Original Message ----- =
From:=20
Donald =
Wallker=20
To: canslim@lists.xmission.com=
=20
Sent: Saturday, July 27, =
2002 8:52=20
AM
Subject: Re: [CANSLIM] =
Follow Through=20
Day
Dan ---Is your message personal =
or would you=20
like to share its content with the rest of the group? I take =
it that=20
you are referring to a breakout of a stock that you =
and =20
another member of this forum are following.
Donald
----- Original Message ----- =
From:=20
Dan=20
Forant
To: canslim@lists.xmission.com=
=20
Sent: Saturday, July 27, =
2002 8:19=20
AM
Subject: [CANSLIM] Follow =
Through=20
Day
Per 2nd edition =
HTMMIS we're waiting=20
on a follow through day now from the break out 7/24, =
confirmation would=20
be 1-2%, days 4-10, with increase in volume from day=20
before?
DanF
- ------=_NextPart_000_001C_01C23585.82D2A2C0--
- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim". Do not use quotes in your email.
------------------------------
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