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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Clappy who wrote (2732)9/21/2000 12:16:12 PM
From: Boplicity  Read Replies (2) of 65232
 
Me, bottom fish? I'm Bin Bottom Fisher. I look for high vol break outs. Recent examples PPRO, and QCOM. I prefer buying stocks that have based for five or more months, the base has to be flat with falling vol. An example of a poor base is WFII. I also like to see the stock not going lower on negative news while it bases. I also like to see the stock trend higher near the end of the base. I draw a horizontal line from the initial recover from the low after the fall from grace.

Take a look at PPRO. askresearch.com

Draw a horizontal line from 50 in July, notice how the vol. shrinks after that, also notice the increase in vol. as the stock breaks out. Another indicator of pending break out is the moving adv. lines converge. Something I look for is when the 20 or 25 day line cross the 50day line. Now mentally draw line from 60 in April that was the next area of resistance, notice how the stock consolidating the break out at that area, I like to add once I feel the break out is for real and the stock is able to tightly consolidate at the first area of resistance. Notice how the vol. shrinks in the 60 area, then shoots higher as the stock breaks out of consolidation, I like to add at that time.

Plug WFII, notice how sloppy the base was and the failure at the first area of resistance. Now draw a line from the June low connecting the low in Aug, to 60. I would call that the low channel line, if the stock has any support it should be bouncing of that.

G
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