Cohu, Inc. (COHU) Message Board

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Technology Stocks : Cohu, Inc. (COHU)

COHU 23.54

-0.9%

Dec 24 12:59 PM EST

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To: Nutty Buddy who wrote (2582)	1/5/2002 3:17:46 PM
From: robert b furman	Read Replies (1) of 7827

Hi Buddy, The "market flame" is beginning to look "mature". I suspect that is the look of an emerging bull market.I also suspect it is a bit of a LAGGING INDICATOR.None the less good to keep a general perspective. I've been looking at cohu's daily chart. siliconinvestor.com I think my read on Cohu has been incorrect.I've been waiting for Cohu to approach its past high of July 3rd at 23.55,and then tail downward to create a handle. If one doesn't count that as the high - but rather chooses the MULTIPLE resitance contacts at : 1) 05/22 @ 22.49 2) 07/02 @ 23.50 - ignore this slightly higher 2-3 day spike 3) 08/08 @ 22.00 4) 08/28 @ 22.75 5) 12/06 @ 21.93 as the high that the right side of a cup must get up to - then # 5 (12/06)was the completion of the right side of the cup. Then these last 20 days have indeed created the handle(12/06 thru 01/04).A handle best characterized as having a downward slope on light volume.There were several days of higher volume and they were marked with block transactions(institutional support/buying). This indeed leaves our favorite stock poised quietly for a breakout from a long term cup and handle formation. It basically is a double bottom base going back to where the double bottom lows are Oct 18 2000 (12.63) and Sept 21 (13.05). William O'neill defines the "pivot point" of a double bottom base as "1/8 above the middle peak between the bases two lows".That brings us to that pesky old high of June 29 (23.49),July 2 23.50)and July 3(23.55). In summary we may have seen our handle already form.The big question is do you add 1/8 on top of the toppy highs of the three days back in july to calculate the pivot point - I think so. So I'm calling the pivot point to be 23.67. This is the point where you jump on the rocket - hoping that the breakout holds(a high percentage of them will actually fall back down and retest). Some on the otherhand just giddy up and go.hehehehehe I'm looking for big volume -100,000 to 200,000 in the first 1/2 hour or hour and I'm keeping one eye on Intel and Amat.If this rally is for real it has to be led by the bell wethers. Also note that the yellow + DI has broken out above BOTH the -DI and ADX.This type of action is indeed rare and is often associated with an explosive upward spike in price. In summary,buckle down we may be making a moon shot real soon.ggg If it pops - I'll be buying at the market - you can't catch these rockets by saving pennies.It's either gonna do what it's gonna do or I'm out with an 8 % max loss. Your charts are looking great - seems to me we've got a bull market about to boil. Upon boiling - buy high quality breakouts and enjoy the ride. Sounds like a recipe for wealth building to me. Let's hope this thing works out like I'm dreaming.<VBG> Bob

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