Cup w/ Handles

[jae16]

Thanks ski, I threw it on the watch list! I also started reading that site you gave me... thepatternsite.com, hope to get some good info from it...

Ski can we still consider this a cup w/ handle pattern? I ask because we closed above the left portion of the cup? I am not sure how that should be regarded?

[skiracer]

Thanks ski, I threw it on the watch list! I also started reading that site you gave me... thepatternsite.com, hope to get some good info from it...

Patience with this chart and setup. It needs to make it's handle right here and that could take a few days or week or so. A gently sloping line (handle) downward on lessening daily volume (I like to see the handle and volume lines as close to parallel as can be) is what we are looking for in the handle. It doesn't always work that way but as close to that as possible is best in my opinion. Lots of accumulation volume coming into making the right side of it's cup base.

[skiracer]

Thanks ski, I threw it on the watch list! I also started reading that site you gave me... thepatternsite.com, hope to get some good info from it...

Bulkowski is the authority and wrote the book on chart patterns and definitions. I like to try to get the charts that are the closest to his definition as possible. It's hard but worthwhile going the extra mile in doing so. I find that they are the ones that perform the closest to what is expected of them. Of course there are always instances where the charts look good and don't fill the bill exactly definition wise. That's where the experience of doing it over the years comes into play. You only get that experience and feel from doing it over and over until you find the style that suits you best.

Check out my link below. You'll find some interesting and informative commentary regarding stocks, charts, and trades there and all for free.

[jae16]

Here's a nice cup formation. Just getting to where I would expect it to begin making it's handle.

Thanks ski, I threw it on the watch list! I also started reading that site you gave me... thepatternsite.com, hope to get some good info from it...

[jae16]

Jae,
Yes, I sold out for +30% at least some good news this week.

-----------billyjoe

Congrats! Good to hear! Thats a good way to start the year...

Jerry

[skiracer]

Here's a nice cup formation. Just getting to where I would expect it to begin making it's handle.

[billyjoe]

Hope you locked in some of those gains yesterday!

Jae,
Yes, I sold out for +30% at least some good news this week.

-----------billyjoe

[jae16]

Doug,
Don't know if you considered MATK. Check out the chart and what happened today. I hadn't looked at the chart as I've held it for many months and got lucky today or I should say my son did.

---------------billyjoe

Hope you locked in some of those gains yesterday!

[IIC]

Doug,
Don't know if you considered MATK. Check out the chart and what happened today. I hadn't looked at the chart as I've held it for many months and got lucky today or I should say my son did.

---------------billyjoe

Great B/O...I actually didn't see it until after the close

[billyjoe]

Doug,
Don't know if you considered MATK. Check out the chart and what happened today. I hadn't looked at the chart as I've held it for many months and got lucky today or I should say my son did.

---------------billyjoe

[IIC]

Billyjoe,
I like the weekly much better than the daily although the daily isn't bad. I like them much more uniform.

Doug,
It's not a bad chart at all. And I wasn't knocking it. Abit jagged and the handle and volume are not the way I would like to see them but it's early in the handle and the cup is what it is. Didn't mean to insinuate that it wasn't a decent example just not as good as you can find them.

Extremely difficult to find many "Classics"...However, I have found as much or maybe more success w/ the close calls than the Classics...Perhaps maybe because there are more close calls???...I don't really know.

If this was a paying job...I'd look at 5,000+ charts every weekend

[skiracer]

Ski,
SII looks very good to me on the weekly, but had I seen the daily chart first it doesn't look so hot. What time period do you consider most important in viewing?

----------billyjoe

Billyjoe,
I like the weekly much better than the daily although the daily isn't bad. I like them much more uniform.

Doug,
It's not a bad chart at all. And I wasn't knocking it. Abit jagged and the handle and volume are not the way I would like to see them but it's early in the handle and the cup is what it is. Didn't mean to insinuate that it wasn't a decent example just not as good as you can find them.

[IIC]

SII is just starting to form a handle...Only one day into it.

Let me make something clear...My CwH's may be in the Infant...Middle...or Late stage pattern formation...Have to decide for yourself which ones you want to watch:



The ones I mentioned to my email subscribers today that I personally put on my "A" Watchlist are FCN from the CwH list and IRIS from the PoI list.

Here are their charts:

Click Here 4 FCN and IRIS charts









.

[billyjoe]

Ski,
SII looks very good to me on the weekly, but had I seen the daily chart first it doesn't look so hot. What time period do you consider most important in viewing?

----------billyjoe

[skiracer]

SII... I got this off of IIC's cup and handle list... I think you guys should seriously put this on your watch list... It is a real clean cup that appears to be forming the handle... To top this off, they have great fundamentals...

IMHO, you should keep a watch out on this one...

I think you have to read up on cup and handle base formations and look at alot more charts. I wouldn't call that a clean uniform cup base and you have to understand what the handle should look like and under what conditions it should take place. I wouldn't call this a good example and certainly not a classic example but it is not a bad example and there are alot worse I'm sure. There are hundreds of cup base patterns with handles forming out there. You just have to look for the good ones. It takes alot of time and searching for the good ones. If this one was a really good one, and it is not a bad example, Doug would certainly have posted it before you did being that it came off his list. But you are on the right track. You should be looking for the ones that have that nice uniform, not jagged, uniformly U shaped base culminating at the top of the right side with a handle that gently slopes downward on lessening volume. I like to see them where the handle and the volume slopes are almost parallel to one another. Check this site out for the correct definitions and illustrations of what the good ones look like. http://thepatternsite.com/. If you are trying to learn about all of this you might as well start off on the right foot.