[CANSLIM] Market

From: "Rob Miller" <rmiller2@carolina.rr.com>
Subject: [CANSLIM] Market
Date: Thu, 21 Feb 2002 08:46:37 -0500

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I noticed that IBD called yesterday a follow through day on the Dow, 15 =
days after the first day of its rally.  The Dow, unlike the S&P and =
Nasdaq, didn't undercut its January low.  However, I think the Dow's =
follow through is suspect.  The broader market indexes agree.  Also, a =
valid follow through must show power in individual stocks, which is not =
the case with the Dow.  A look at the 30 components doesn't show =
anything impressive.  I didn't see a single stock worth buying from a =
technical standpoint.  Therefore, I wouldn't even call it a follow =
through day. =20

As for the broader market, most of the volume came when stocks were =
moving down.  Most of the stocks on my watchlist put in at least 75% of =
their day's volume on the downside. =20

Rob        =20

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<DIV><FONT face=3DArial size=3D2>I noticed that IBD called yesterday a =
follow=20
through day on the Dow, 15 days after the first day of its rally.&nbsp; =
The Dow,=20
unlike the S&amp;P and Nasdaq, didn't undercut its January low.&nbsp; =
However, I=20
think the Dow's follow through is suspect.&nbsp; The broader market =
indexes=20
agree.&nbsp; Also,&nbsp;a valid follow through must&nbsp;show power in=20
individual stocks, which is not the case with the Dow.&nbsp; A look at =
the 30=20
components doesn't show anything impressive.&nbsp; I didn't see a single =
stock=20
worth buying from a technical standpoint.&nbsp; Therefore, I wouldn't =
even call=20
it a follow through day.&nbsp;&nbsp;</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial size=3D2>As for the broader market, most of the =
volume came=20
when stocks were moving down.&nbsp;&nbsp;Most of the&nbsp;stocks on my=20
watchlist&nbsp;put in at least 75% of their day's volume on the=20
downside.&nbsp;&nbsp;</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT face=3DArial =
size=3D2>Rob&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;=20
</FONT></DIV></BODY></HTML>

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