[CANSLIM] The Market

From: Craig Griffin <cagriffin@mindspring.com>
Subject: [CANSLIM] The Market
Date: Sun, 6 Apr 1997 14:50:35 -0400 (EDT)

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Looking at a chart of the NASDAQ.  This bounce has taken it 3% or so from
the lows in two days (1% on Thursday and 2% on Friday).  A nice start to a
rally.  Question is: will the rally fail or will it continue and will we
have a confirming 1% up day (on higher volume than the day before) in the
next two weeks (3rd through the 10th day of rally)?  

Thin reeds --- I am already seeing very bearish comments in the local press
and in the web press.  People are now saying "this market could drop another
thousand points from here (and by the way we went to 50% cash 4 weeks ago)".
This kind of quick reaction in the press to what has been a rapid selloff
leads me to believe there is more upside to go over the next week or so.  I
also read somewhere that the economic news released in the next 5 trading
days will be less likely to influence the market.  Whether the uptrend will
be confirmed or the rally will fail, I haven't a clue.  (I don't know
whether the guy calling for the 1000 pt drop is right or wrong, just suspect
rally will continue a bit right now and then, we'll see). My opinion only.

There you go Tom, a bit of market commentary from someone who is frequently
wrong when calling short term direction, but who did manage to go to cash at
about the right time (hearing Wm. O'Neil's opinion in Feb. didn't hurt).
Let me know what you think if you get the time.

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