Any comments on FORD (Nasdaq)?

[IIC]

I guess it really depends on your definition of a base. OK...using the IBD definition which is that it corrects no more than 8-12% (at least that's what it says in 24 Essential Lessons For Investment Success)...although in that case they were talking about a flat base.

So I go to their website and it says preferably 30%...but then it mentions 20 to 30%...Now I'm confused...What the heck is a base anyway?

But, no matter what it is I guess they corrected so much off the 4/6 high and the 6/7 high that I guess you start counting over.

So I stand corrected...But looking at the weekly chart in IBD w/o checking the numbers it sure looked like 4 or 5 bases to me. However, if you are following the IBD way you wouldn't buy it now because it is too extended and it is in a crummy group.

Thanks...Doug(IIC)

[dmk112]

my thoughts...

[dmk112]

I guess it really depends on your definition of a base. OK...using the IBD definition which is that it corrects no more than 8-12% (at least that's what it says in 24 Essential Lessons For Investment Success)...although in that case they were talking about a flat base.

So I go to their website and it says preferably 30%...but then it mentions 20 to 30%...Now I'm confused...What the heck is a base anyway?

But, no matter what it is I guess they corrected so much off the 4/6 high and the 6/7 high that I guess you start counting over.

So I stand corrected...But looking at the weekly chart in IBD w/o checking the numbers it sure looked like 4 or 5 bases to me. However, if you are following the IBD way you wouldn't buy it now because it is too extended and it is in a crummy group.

Thanks...Doug(IIC)

Which chart should you be following for the base count, daily or weekly? It will be different for every stock depending on which chart you look at...

[dmk112]

And this week it had the highest volume ever, so it hardly looks "exhausted" - but it is #1 on IBD so it probably will get sold off - LOL

[IIC]

Geez...I can't win on this one ...Can I?

Maybe "exhausted" is a bit extreme...but even IBD agrees with me that it's extended...I read that in 2 different places in the paper.

As far as reading bases on weekly or daily charts???...I hate to answer that because I'll probably be wrong about that too...LOL

[mooddude]

When you count bases you should count only major ones. That's why all these different 20-30% criteria. The stock is extended probably because it jumped up too fast out of the recent pivot point.

[IIC]

When you count bases you should count only major ones. That's why all these different 20-30% criteria. The stock is extended probably because it jumped up too fast out of the recent pivot point.

I know...after I actually looked at the numbers rather than glancing at the weekly chart...I realized you were right...Was just givin' 'ya a hard time...BUT...What is your opinion on their new take that Breakouts don't have to have volume...Now that one disturbs me. I posted a link to that article today at Mr. B in the Site Watch Section...IIC

[dmk112]

I sometimes wonder about IBD... I'm starting to not to pay attention too much of what they have to say.

[spikefader]

FORD it's a potential monster. Anyone wanting to hop on board with great r/r will have to wait until this one pulls back to the channel, or for the next channel turn up.

[B.J]

What is your opinion on their new take that Breakouts don't have to have volume...Now that one disturbs me. I posted a link to that article today at Mr. B in the Site Watch Section...IIC

Sounds to me like the classic backpedal Maybe a reader complained because he/she didn't buy a stock because of poor volume, that eventually took off.

Sometimes they do take off on low volume, but I had always thought it was about PROBABILITY, with the buying on conviction being one essential piece to the puzzle that enhances a stock's chances.

Articles like that one do nothing but confuse the readers.

[IIC]

I have been posting things about Canslim deficiencies since 2000...Make changes...Get with the times...But I didn't mean that...I was mostly referring to buy/sell points and the EPS ratings...Are they GRASPING???

I have no problem w/ much of the CS theory...but low volume breakouts...Give me a BREAK(out)!!!

[dmk112]

Well FORD gapped up on the IBD #1 listing...it is going to be very interesting if it continues this uptrend...

[B.J]

Depending on what it does tomorrow, it looks like the beginning of an abandoned baby or evening doji pattern. If it starts down tomorrow, I don't want to be in it.

[mystiky]

Any update on FORD chart?

Calling in all experts, all experts for opionion(s)...

Thanks as always!