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<DIV><FONT color=#000000 size=2>Harley,</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>
You're absolutely right on MU not fitting the CANSLIM methodology. I
wasn't talking about their methodology, just the cup and handle chart formation
that William's dwells on. Anyhow, I rely more on trend channels, then I do
on breakouts to new highs. I'd have to say that MU is now in the middle of
a wide Horizontal Channel between 20 and 39. I wouldn't be interested in
it here, but best of luck on whatever you do with it.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>JimG </FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Harley Meyer <<A
href="mailto:meyer@xxxxxxxxxxx";>meyer@xxxxxxxxxxx</A>><BR><B>To: </B><A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A> <<A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A>><BR><B>Date:
</B>Saturday, October 03, 1998 11:23 PM<BR><B>Subject: </B>Re: Yahoo - Intel
May Take Stake In Micron Technology Inc., Reports CMP's Electronic Buyers'
News<BR><BR></DIV></FONT>Hi Jim,<BR><BR>I wanted to get back to you. I am
not a CANSLIM<BR>expert but if it doesn't have the earnings growth<BR>it
isn't CANSLIM. Mu by all means doesn't have<BR>that. As far as the chart, I
would say that the<BR>cup you are talking about actually ended in the<BR>end
of August. The last part of August had a<BR>downturn in price on heavy
volume. Now if it had<BR>gone down on light volume then it might of been
a<BR>different technical interpretation.<BR><BR>Harley<BR><BR>Jim Greening
wrote:<BR><BR>> Harley, Best of luck, hope
you're right.<BR>> As I understand the CANSLIM cup, all that's<BR>>
required for volume is: 1) that it's lower on<BR>> the left hand
side of the cup (march to June )<BR>> 2) higher on the right hand side of
the cup<BR>> (July to now), and 3) most importantly, very<BR>>
high to confirm the breakout.The breakout hasn't<BR>> occurred yet.
For your sake I hope it doesn't<BR>> because it would require a push
through the 39<BR>> level on high volume.
Jim<BR>><BR>> -----Original
Message-----<BR>> From: Harley Meyer <<A
href="mailto:meyer@xxxxxxxxxxx";>meyer@xxxxxxxxxxx</A>><BR>><BR>>
To: <A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A><BR>>
<<A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A>><BR>>
Date: Sunday, September 27, 1998 11:42<BR>>
PM<BR>> Subject: Re: Yahoo - Intel May
Take<BR>> Stake In Micron Technology
Inc.,<BR>> Reports CMP's Electronic
Buyers'<BR>> NewsAhh, my good friend
Jim,<BR>><BR>> At the moment I am trying
not to feel<BR>> like Homer Simpson. I am
worried about<BR>> this MU position and
feel that I<BR>> stepped into the short a
little early<BR>> based on my trading
system. After<BR>> looking at the chart of
MU I don't<BR>> think it is in a CANSLIM
type of<BR>> breakout. The volume formation
is not<BR>> there and my guess is that
earnings<BR>> are not
there.<BR>><BR>> As far as the Intel
deal I can't see<BR>> it. After doing a
little more reading<BR>> by following the
links that were in<BR>> the article. I read
that as soon as<BR>> the 2nd tier chip
makers can get<BR>> ramped up they will
create new supply<BR>> in the DRAM market.
Also MU and<BR>> Samsung are going to
increase<BR>> production. i.e., increased
supply.<BR>> The outlook is that DRAM will
be a<BR>> commodity. It doesn't make sense
that<BR>> Intel would spend money to
guarantee<BR>> lower chip prices. When the
trend for<BR>> memory is to commodity
status.<BR>><BR>> Lastly MU has been a
buyer of<BR>> companies or parts there
of.<BR>><BR>> Like I suggested earlier,
I think this<BR>> rumor is a way to push
the price up<BR>> because somebody's
portfolio is<BR>> suffering with too much
MU in it. Same<BR>> thing happened with AMD
and IBM.<BR>><BR>> Now what matters is
what people think<BR>> and for now they
think that the price<BR>> should go up and
my poor butt has<BR>> decided to face the
other way. I just<BR>> hope the crowd won't
trample me to<BR>> debt (pun intended). I
will say that<BR>> MU earning are supposed
to be out on<BR>> Monday some time. So I am
going to<BR>> wait until earnings come out
before I<BR>> make any
decisions.<BR>><BR>>
Harley<BR>><BR>> Jim Greening
wrote:<BR>><BR>> >
Harley, That's a rumor
that<BR>> > makes a lot of sense to me
and<BR>> > you're asking for trouble
by<BR>> > fighting the tape. MU is in a
Short<BR>> > Term Up Trend Channel (STUTC) and
is<BR>> > trying to complete a CANSLIM
type<BR>> > cup and handle formation. it
could<BR>> > really jump if the rumor
becomes<BR>> > true.
Jim<BR>><BR><BR></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Sun Oct 04 09:57:03 1998
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Jim,
While Advanced GET is excellent (although pricey) you might also want to
check out TA98. Take a look at:
http://www.stelar.com
I use it and like it very much.
Claud
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