From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #345 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk X-No-Archive: yes canslim-digest Friday, July 31 1998 Volume 02 : Number 345 In this issue: Re: [CANSLIM] Shorts Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Re: [CANSLIM] Shorts [CANSLIM] TA Noise--Do Not Read If Not Interested Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Re: [CANSLIM] IBD Groups "R" [CANSLIM] Re: [NonCANSLIM] Ari, did you ever buy FINL? [CANSLIM] follow through day calculation Fw: [CANSLIM] (CANSLIM) Market Re: [CANSLIM] Shorts Re: [CANSLIM] follow through day calculation [CANSLIM] "M" ---------------------------------------------------------------------- Date: Thu, 30 Jul 1998 14:24:10 GMT From: musicant@autobahn.org (Dan Musicant) Subject: Re: [CANSLIM] Shorts On Sat, 25 Jul 1998 11:42:45 -0700, you wrote: :Yes, I am interested. Please include me. : :Dan Ay, and please include me if and when this thread materializes. I am absolutely interested. - -Dan :dbphoenix wrote: : :> Anyone interested in a shorting thread? Or setting up a separate :> e-mail group to discuss shorting over the next few weeks? :> :> --Db :> : : :- musicant@autobahn.org - - ------------------------------ Date: Thu, 30 Jul 1998 07:22:21 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! This is at least the third time I have received this exact same message. One more time and I'll start treating it as a scam and will report it to the National Fraud Center. Ever heard of a "pyramid scheme"? That's what this sounds like. They're illegal in all 50 states. At 11:20 PM 7/29/98 -0400, you wrote: > >Subject: Free stock anyone?? > > >follow the below instructions, but use me as your reference... > Tim Fisher, 1995 President, Pacific Fishery Biologists Ore-ROCK-On Rockhounding Web Site PFB Information mailto:tim@OreRockOn.com WWW http://OreRockOn.com - - ------------------------------ Date: Thu, 30 Jul 1998 10:29:18 -0500 (CDT) From: "Jason P. Butler" Subject: Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Chill Out. It's not a pyramid scheme. Why would you NOT want free shares of stock? Pyramid schemes involve sending money to people higher in the list. The people at the top who start it out get alot, others don't. There is no money exchanging hands except shares of stock being given away free to people who signup. If you signup more people, you get more stock. Like an incentive for advertising their web site, and since you are an owner of the company with shares of the stock, you have a vested interest in promoting the company. Relax. Jason BTW - I don't even own shares or do this. Just wanted to set things right, I don't want a legitimate company to be accused of illegal activities. On Thu, 30 Jul 1998, Tim Fisher wrote: > This is at least the third time I have received this exact same message. One > more time and I'll start treating it as a scam and will report it to the > National Fraud Center. Ever heard of a "pyramid scheme"? That's what this > sounds like. They're illegal in all 50 states. > > At 11:20 PM 7/29/98 -0400, you wrote: > > > >Subject: Free stock anyone?? > > > > > >follow the below instructions, but use me as your reference... > > > > Tim Fisher, 1995 President, Pacific Fishery Biologists > Ore-ROCK-On Rockhounding Web Site > PFB Information > mailto:tim@OreRockOn.com > WWW http://OreRockOn.com > > - > > - - ------------------------------ Date: Thu, 30 Jul 1998 08:43:28 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Guess what? I don't care if it's legitimate or not. It's not CANSLIM, not technical analysis, not shorting, not "M", not anything that this forum is (by default) about! It's greed! It should never have been posted to this list! At 08:29 AM 7/30/98 , you wrote: >Chill Out. It's not a pyramid scheme. Why would you NOT want free shares >of stock? Pyramid schemes involve sending money to people higher in the >list. The people at the top who start it out get alot, others don't. >There is no money exchanging hands except shares of stock being given away >free to people who signup. If you signup more people, you get more stock. >Like an incentive for advertising their web site, and since you are an >owner of the company with shares of the stock, you have a vested interest >in promoting the company. Relax. > >Jason > >BTW - I don't even own shares or do this. Just wanted to set things >right, I don't want a legitimate company to be accused of illegal >activities. > >On Thu, 30 Jul 1998, Tim Fisher wrote: > >> This is at least the third time I have received this exact same message. One >> more time and I'll start treating it as a scam and will report it to the >> National Fraud Center. Ever heard of a "pyramid scheme"? That's what this >> sounds like. They're illegal in all 50 states. >> >> At 11:20 PM 7/29/98 -0400, you wrote: >> > >> >Subject: Free stock anyone?? >> > >> > >> >follow the below instructions, but use me as your reference... >> > >> Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites mailto:Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - ------------------------------ Date: Thu, 30 Jul 1998 10:55:22 -0500 (CDT) From: "Jason P. Butler" Subject: Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! Ok, I'll agree with you there. It's not CANSLIM and shouldn't have been sent to the list. But, you never said anything like that in your original post. You simple stated that it was illegal in the U.S. and that you would report it to the fraud center. Which it's not, and I'd like to see you try. On Thu, 30 Jul 1998, Tim Fisher wrote: > Guess what? I don't care if it's legitimate or not. It's not CANSLIM, not > technical analysis, not shorting, not "M", not anything that this forum is (by > default) about! It's greed! It should never have been posted to this list! > > At 08:29 AM 7/30/98 , you wrote: > >Chill Out. It's not a pyramid scheme. Why would you NOT want free shares > >of stock? Pyramid schemes involve sending money to people higher in the > >list. The people at the top who start it out get alot, others don't. > >There is no money exchanging hands except shares of stock being given away > >free to people who signup. If you signup more people, you get more stock. > >Like an incentive for advertising their web site, and since you are an > >owner of the company with shares of the stock, you have a vested interest > >in promoting the company. Relax. > > > >Jason > > > >BTW - I don't even own shares or do this. Just wanted to set things > >right, I don't want a legitimate company to be accused of illegal > >activities. > > > >On Thu, 30 Jul 1998, Tim Fisher wrote: > > > >> This is at least the third time I have received this exact same message. > One > >> more time and I'll start treating it as a scam and will report it to the > >> National Fraud Center. Ever heard of a "pyramid scheme"? That's what this > >> sounds like. They're illegal in all 50 states. > >> > >> At 11:20 PM 7/29/98 -0400, you wrote: > >> > > >> >Subject: Free stock anyone?? > >> > > >> > > >> >follow the below instructions, but use me as your reference... > >> > > >> > > Tim Fisher > Ore-Rock-On and Pacific Fishery Biologists WWW Sites > > mailto:Tim@OreRockOn.com > WWW: http://OreRockOn.com > See naked fish and rocks! > > - > > - - ------------------------------ Date: Thu, 30 Jul 1998 11:34:32 -0700 (PDT) From: Ty C Smith Subject: Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! ok so how many shares do you have and waht is the symbles for the share. i would like to see where you are at and what company this really is. On Thu, 30 Jul 1998, Jason P. Butler wrote: > Chill Out. It's not a pyramid scheme. Why would you NOT want free shares > of stock? Pyramid schemes involve sending money to people higher in the > list. The people at the top who start it out get alot, others don't. > There is no money exchanging hands except shares of stock being given away > free to people who signup. If you signup more people, you get more stock. > Like an incentive for advertising their web site, and since you are an > owner of the company with shares of the stock, you have a vested interest > in promoting the company. Relax. > > Jason > > BTW - I don't even own shares or do this. Just wanted to set things > right, I don't want a legitimate company to be accused of illegal > activities. > > On Thu, 30 Jul 1998, Tim Fisher wrote: > > > This is at least the third time I have received this exact same message. One > > more time and I'll start treating it as a scam and will report it to the > > National Fraud Center. Ever heard of a "pyramid scheme"? That's what this > > sounds like. They're illegal in all 50 states. > > > > At 11:20 PM 7/29/98 -0400, you wrote: > > > > > >Subject: Free stock anyone?? > > > > > > > > >follow the below instructions, but use me as your reference... > > > > > > > Tim Fisher, 1995 President, Pacific Fishery Biologists > > Ore-ROCK-On Rockhounding Web Site > > PFB Information > > mailto:tim@OreRockOn.com > > WWW http://OreRockOn.com > > > > - > > > > > > > - > > - - ------------------------------ Date: Thu, 30 Jul 1998 11:54:56 -0700 (PDT) From: Ty C Smith Subject: Re: [CANSLIM] Shorts i like to be part of it tyler On Thu, 30 Jul 1998, Dan Musicant wrote: > On Sat, 25 Jul 1998 11:42:45 -0700, you wrote: > > :Yes, I am interested. Please include me. > : > :Dan > > Ay, and please include me if and when this thread materializes. I am > absolutely interested. > > -Dan > > :dbphoenix wrote: > : > :> Anyone interested in a shorting thread? Or setting up a separate > :> e-mail group to discuss shorting over the next few weeks? > :> > :> --Db > :> > : > : > :- > > musicant@autobahn.org > > - > > - - ------------------------------ Date: Thu, 30 Jul 1998 12:25:18 -0700 (PDT) From: dbphoenix Subject: [CANSLIM] TA Noise--Do Not Read If Not Interested Seems I may have been wrong about Kim's trendline support. If the NYSE is able to close above 573, that line may be providing support after all. The activity of the market this morning may come as a surprise to those who noticed that the DJTA fell below support yesterday. One scenario might have been that those who believe that Dow Theory is still a moving force in the market would have sold at the outset. Another might have been that the DJTA is not what it used to be, nor does it serve the same economic function; therefore, the activity in it yesterday would just be ignored. A third might be that bulls would pull it back from the brink in a kind of controlled panic, not wanting to give the bears any further excuses to drive the market lower. A little correction is one thing; a full-scale rout would be another, just as little beads of sweat are one thing, but projectile vomiting . . . The big plus, of course, is that the move this morning has been so widespread. Every average including the RUT is higher. But why? Is housing starts the reason? Is that really enough to explain this move? Did all the averages find support in the same place? Or is it just a random occurrence? Or could it have been predicted? If so, could TA have made the prediction? A major principle of TA is that support, once broken, becomes resistance and that resistance, once broken, becomes support. And this is usually true. But we then get into what constitutes support and resistance. Most commonly we begin to talk about moving averages. And moving averages often do provide support and resistance. But not always. And this is where both TA and the newbie can get into trouble. Moving averages need not be support or resistance simply because we want or expect them to be. In other words, it's not automatic, anymore than a trendline which doesn't really belong where we've put it is going to act as support or resistance just because we want it to. The whole issue of support and resistance revolves around what is actually happening in the chart, not what we'd like to see happen. If, for example, the 50d MA has not acted as support or resistance over the previous days or weeks or months, there's no reason to believe that it will suddenly behave as such just because we've plotted it. Ditto with the "magic 17d". If the stock weaves in and out of it as though it weren't there, one would be foolish to depend on it as a cue for entry. Ditto with trendlines and the reason why it's not only necessary to use at least three points for it, but to back off and really look at it in order to see if it truly has provided support (or resistance) or if we're just doing some sort of charting exercise. If it's been tested again and again, it's support/resistance. If the stock has often broken below it or not quite reached it, it's of less value, if it is of any value at all. There's also the possibility that you're not looking in the right place. Each of the major indices, for example, has bounced off a different type of what tentatively might be called support (one can't know until it's been tested at least once). But even if one narrows it down to the 50d MA, one still must be careful to note the whereabouts of both the simple and the exponential averages. The Nasdaq, for example, hasn't reached the 50d SMA, but seems to be bouncing off the 50d EMA. Is this important? No way of knowing unless it retests this average again and comes up smiling. Or it could be finding support at the level of the infamous "right shoulder", in which case the current activity constitutes a retest. One should also consider using other moving averages other than what he's used to, particularly if there seems to be some sort of "phantom" support. Perhaps this particular stock or index is following a 20d MA. Or a 40d MA. Or a 150d MA. It's important to stay flexible. Is any of this necessary to CS? No. Is any of it useful? Arguably not. But one of the most common questions (and complaints) I hear has to do with entry and how one gets in before the stock is already over-extended. Another has to do with stops and where they're placed, and why does my stock immediately reverse course and go back up as soon as I've sold it? If one knows where support and resistance lie, he is better able to make plans as to what he will do according to the various ways the stock may react when it hits that support or resistance. The activity today does not mean that we are suddenly bullish again, any more than the activity of the past few days meant that we were suddenly bearish. Today is bullish. Tomorrow, who knows? But if the levels off which these indices are bouncing are true support levels, then one would be justified in beginning to count days to spot the follow-through day. But what does any of this have to do with CS anyway? Aren't we supposed to wait until the follow-through day before we even consider entering new positions? If you're a purist, yes. But clearly, many are not. They are more aggressive and don't want to wait. They see a stock running for daylight and they don't want to wait a week to hitch their wagon to it. But they also have the burn marks from stocks they didn't abandon before they burst into flames and know enough to get out the instant that things turn sour. My purpose here is not to rewrite CS for the aggressive investor. It's mainly to call attention to a few points that keep coming up in e-mail and to address these all at once for anyone who might be interested. The non-purist can be more aggressive if he wants to be. It's his money. The purist will most likely wait for the follow-through day, if there is one, and buy only stocks which are breaking out of 6-8 week bases. And that's perfectly OK as well. I do believe, however, that some flexibility is called for with regard to the aggressive investor and his use of CS principles. If an outstanding stock pulls back a few points to support, can one buy it there or must he wait for the new high (what if it approaches a new high then blasts through it on its way to an overextended point before the individual has a chance to even check his computer)? Many people are wondering what to do in this circumstance, though it may not be a suitable topic for this particular group. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 30 Jul 1998 12:45:55 -0700 (PDT) From: Hemant Rotithor Subject: Re: [CANSLIM] Only three free shares! Delete if you are uninterested!! I doubt that they are publicly traded; these are probably private shares and you could not make a penny selling them until they are public. It seems like a neat way to collect email addresses to promote businesses and other Internet-related junk. This item is stock related and I don't think it was intended as a spam. The original poster sent it as an "informational stock item" and should be treated as such. I would not have a seious problem devoting a small amount of bandwidth in the list to stock-related-informational items that may or may not be CANSLIM; one can skip over them if not interested. - ---Ty C Smith wrote: > > ok so how many shares do you have and waht is the symbles for the share. > i would like to see where you are at and what company this really is. > == Hemant Rotithor mailto:h.rotithor@juno.com or mailto:rotithor@yahoo.com _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 30 Jul 1998 20:39:18 -0400 From: Ari Lawson Subject: Re: [CANSLIM] IBD Groups "R" Joe Barger wrote: > IBD Group R > > ------------------------------------------------------------------------ > > Name: RealEstOps.lst > RealEstOps.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-AppShoe.lst > Ret-AppShoe.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-ConsElc.lst > Ret-ConsElc.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-DeptStr.lst > Ret-DeptStr.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-DrugStrs.lst > Ret-DrugStrs.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-HomeFur.lst > Ret-HomeFur.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-Mail&Dir.lst > Ret-Mail&Dir.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-MiscDivr.lst > Ret-MiscDivr.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-MjrDisc.lst > Ret-MjrDisc.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-Restr.lst > Ret-Restr.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-SprMkts.lst > Ret-SprMkts.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-WhlsBldg.lst > Ret-WhlsBldg.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-WhlsComp.lst > Ret-WhlsComp.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit > > Name: Ret-WhlsOffSp.lst > Ret-WhlsOffSp.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > Encoding: 7bit Dear Joe, I'm missing A,B,C,D, of this list. could you please send it to me? Thanks Ari arilaw@erols.com - - ------------------------------ Date: Thu, 30 Jul 1998 19:36:41 -0700 (PDT) From: TM Subject: [CANSLIM] Re: [NonCANSLIM] Ari, did you ever buy FINL? I see FINL had a good day. Did you buy it when you were talking about it in June? TM - ---Ari Lawson wrote: > > > > Joe Barger wrote: > > > IBD Group R > > > > - ------------------------------------------------------------------------ > > > > Name: RealEstOps.lst > > RealEstOps.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-AppShoe.lst > > Ret-AppShoe.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-ConsElc.lst > > Ret-ConsElc.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-DeptStr.lst > > Ret-DeptStr.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-DrugStrs.lst > > Ret-DrugStrs.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-HomeFur.lst > > Ret-HomeFur.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-Mail&Dir.lst > > Ret-Mail&Dir.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-MiscDivr.lst > > Ret-MiscDivr.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-MjrDisc.lst > > Ret-MjrDisc.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-Restr.lst > > Ret-Restr.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-SprMkts.lst > > Ret-SprMkts.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-WhlsBldg.lst > > Ret-WhlsBldg.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-WhlsComp.lst > > Ret-WhlsComp.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > > > Name: Ret-WhlsOffSp.lst > > Ret-WhlsOffSp.lst Type: LST File (application/x-unknown-content-type-lst_auto_file) > > Encoding: 7bit > > Dear Joe, > I'm missing A,B,C,D, of this list. could you please send it to me? > Thanks Ari > arilaw@erols.com > > > - > > _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 30 Jul 1998 23:10:39 -0700 From: "Mike Lucero" Subject: [CANSLIM] follow through day calculation I'm confused about how to count to the follow through day. When counting from the low day, is day 1 the low day? For Dow and NYSE, with the lows on Tuesday, that would that make today day 3. Are we waiting for day 3 or day 4? I thought the book was confusing on this point, saying something like to usually wait for day 3, but wait for day 4 after a major low market low. (I don't have my book with me.) I haven't seen anyone say we just had the follow through day, so either we're waiting for day 4, or today was day 2, or... Please enlighten me. Thanks, Mike - - ------------------------------ Date: Fri, 31 Jul 1998 22:15:37 +1200 From: "Dean Edwards" Subject: Fw: [CANSLIM] (CANSLIM) Market Tom, The market did the complete opposite; of what I would have expected on Thursday. It surged across the board. Might have to eat humble pie. Will be watching with interest on how the market performs tomorrow on Friday, when the GDP figures are released. On a personal note; miss your day to day commentary on the market, stock analysis, etc. on the CANSLIM forum. I can understand completely, why you have decided not to post to the public CANSLIM forum, after the constant flaming you received. Its a just a tradegy, that a few rotton apples have to spoil the barrel. The whole episode has left a bitter taste in my mouth. No one has enrich themselves by you leaving the group... everyone is for the poorer in my opinion. It reminds me of an analogy in chess. When the chess champion Gary Kasparov played the contender Anatoly Karpov for the world chess championship in a match, both of them analysed the game together afterwards. All the reporters asked Kaspaov; who was not on speaking terms with Karpov, why he would want to sit down after the game had finished and discuss in post mortem analysis the strategies and tactics of their game. Because he said, "Who else can I talked too, about this stuff!" He realised that only his rival could possibly have that level of expertise, to see all the hidden tactics and strategies of what actually occurred in their game. The same thing applies to CANSLIM and the stock market. Unless you are very lucky, you just don't have that interaction where people are on the same wavelength. Where you get home at night and start discussing to your wife, friends, kids etc about stocks and CANSLIM. Generally the first question is, "What is "CANSLIM"? The energy or degree of interest isn't there, its boring to them, their expertise is lacking or they just don't get it all... etc - -----Original Message----- From: Tom Worley To: d_edwa00@ihug.co.nz Date: Friday, July 31, 1998 2:02 PM Subject: Re: [CANSLIM] (CANSLIM) Market >Dean, >Would disagree that the analysts know the specific nrs to be announced >tomorrow, but it doesn't take any analyst to be in the ballpark. >First, there are many professional economists and analysts that have >already forecast for some time now that Q2 GDP will show such a degree >of slowing that it may dip negative. Expect lots of talk about >recession if that happens, thus heighening the "fear factor". On the >other hand, most of those who have already forecast a neg Q2 GDP have >also indicated they expect the second half to improve slightly, thus >less likely that we would get two consecutive qtrs of neg GDP, and an >official declaration of "recession". As just one sampling, today the >Employment Cost Index was reported at 0.9% up (inflationary) vs >expected plus 0.8; new jobless claims was reported as 304K vs expected >315K (sign of strong economy, high consumer sentiment, and also >inflationary); and new home sales was reported as 935K vs expected >880K (again sign of strong consumer sentiment as well as willingness >to spend on big ticket items, and in turn support many other areas of >economic growth). > >The effect of a one qtr GDP won't be from whether or not it is >negative, it will come from expectations. If the mkt generally is >expecting a one time neg nr, then the impact should be slight, if at >all. On the other hand if it is far more severely neg than expected, >it will wallop the mkt. If it is only slightly neg, or even slightly >positive, it may actually lift the mkt. There has been an abundance of >recent economic reports which certainly suggest a neg nr, but don't >suggest it will be severe. > >Just like earnings, it's all on the level of expectations. > - - ------------------------------ Date: Fri, 31 Jul 1998 09:38:22 -0400 From: baker Subject: Re: [CANSLIM] Shorts i am interested. frank baker Dan Musicant wrote: > On Sat, 25 Jul 1998 11:42:45 -0700, you wrote: > > :Yes, I am interested. Please include me. > : > :Dan > > Ay, and please include me if and when this thread materializes. I am > absolutely interested. > > -Dan > > :dbphoenix wrote: > : > :> Anyone interested in a shorting thread? Or setting up a separate > :> e-mail group to discuss shorting over the next few weeks? > :> > :> --Db > :> > : > : > :- > > musicant@autobahn.org > > - - - ------------------------------ Date: Fri, 31 Jul 1998 07:15:54 -0700 (PDT) From: dbphoenix Subject: Re: [CANSLIM] follow through day calculation <> There was quite a bit of discussion on this during the last rally, along with a discussion of W formations. You may want to look that stuff up in the archives. Whether the bottom day counts also as the first rally day depends at least in part in what happens during the day. If it closes at or near the low, it would be more difficult to call it a "rally day" than if it closed at or near the high. But I don't think that what O'N has in mind is for thousands of CSers to begin counting on their fingers from some set point. This is why he's so vague about the number of days--four, five, six, whatever. The point he's trying to get across, I believe, is that the first day or so of rally can't always be trusted. There's the dead-cat bounce phenomenon to be considered, along with the possibility or probability of short-covering, and the only way to know whether the rally attempt was the result of these phenomena or a genuine buying interest is to see what happens after the first couple of days. Does it fizzle? Or is there renewed or continued strength? This is also why a rally attempt much later than the first has less importance--the longer it waits, the less connected it is to the first rally attempt or bounce. Therefore, look not only for an increase in the indices, but also an increase in volume as he advises. Factor in breadth. Note how many indices participate. Note the behavior of the leaders. All of this can give you a sense of how legitimate the rally is and how likely it is that it will be sustained. In any case, it would not be prudent to make big-time investments in new positions on the fourth day after the bottom simply because it happens to be a strong day. - --Db _________________________________________________________ DO YOU YAHOO!? Get your free @yahoo.com address at http://mail.yahoo.com - - ------------------------------ Date: Thu, 30 Jul 1998 19:24:18 -0400 From: Jeffry White <"postwhit@sover.net"@sover.net> Subject: [CANSLIM] "M" Db wrote: > However, there have been multiple distribution days and > rally failures ever since the previous peak in April. I don't think your comment on "mulitple distribution days and rally failures" is placed in enough context to understand exactly what you mean here. Confusing at best, I think. So, I would note that distribution days mean little unless placed in the context of the market move and bullishness of the "M"'s tone, or in the "rally attempt" phases where one must determine whether a significant turn is at hand. Moreover, "rally failures" are only important when we enter a sell off phase following distribution. In my way of looking at it, there has only been one rally failure since late April. That occurred this week. There could be more before we get a clearer picture of how the "M" will move from here. A new rally off a low began today, obviously. Nevertheless, there were only two (and maybe a third, but the jury is still out) significant market turns, all capable of simple determination using price and volume signals and sentiment (and leadership behavior for the down leg). That is the important point for determining "M" direction, not how many distribution days or how many rally failures there are in a quantitative sense. Jeffry - - ------------------------------ End of canslim-digest V2 #345 ***************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. 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