Go to Jeff Salisbury LWGate Home Page.From: "Fred Richards" <adrich@gte.net>
Subject: RE: [CANSLIM] Market
Date: Thu, 21 Feb 2002 08:23:28 -0600
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This is a multi-part message in MIME format. - ------=_NextPart_000_0006_01C1BAB1.09E0F500 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit I agree. Remember that the IBD has been very careful the last six weeks about the strength of this rally. Be interesting to see what the action is today with the news coming out about the economy. Some wags think yesterday's afternoon rally was due to the news leaking and after it is published today, they will take profits. As always, look beneath the reported numbers and see what are the real numbers. It is easy to report declining unemployment when you take out 964,000 people as no longer looking for work. A word to the wise . . . so they say. FFR -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Rob Miller Sent: Thursday, February 21, 2002 7:47 AM To: canslim@lists.xmission.com Subject: [CANSLIM] Market 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. 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. Rob - ------=_NextPart_000_0006_01C1BAB1.09E0F500 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2712.300" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2>I=20 agree. Remember that the IBD has been very careful the last six = weeks=20 about the strength of this rally.</FONT></SPAN></DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2>Be=20 interesting to see what the action is today with the news coming out = about the=20 economy.</FONT></SPAN></DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2>Some=20 wags think yesterday's afternoon rally was due to the news leaking and = after it=20 is published today, they will take profits. As always, look = beneath the=20 reported numbers and see what are the real numbers. It is easy to = report=20 declining unemployment when you take out 964,000 people as no longer = looking for=20 work.</FONT></SPAN></DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2>A word=20 to the wise . . . so they say.</FONT></SPAN></DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2></FONT></SPAN> </DIV> <DIV><SPAN class=3D970282014-21022002><FONT face=3DArial color=3D#0000ff = size=3D2>FFR</FONT></SPAN></DIV> <BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px"> <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT = face=3DTahoma=20 size=3D2>-----Original Message-----<BR><B>From:</B>=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Rob=20 Miller<BR><B>Sent:</B> Thursday, February 21, 2002 7:47 = AM<BR><B>To:</B>=20 canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM]=20 Market<BR><BR></FONT></DIV> <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. The=20 Dow, unlike the S&P and Nasdaq, didn't undercut its January = low. =20 However, I think the Dow's follow through is suspect. The = broader market=20 indexes agree. Also, a valid follow through must show = power in=20 individual stocks, which is not the case with the Dow. A look at = the 30=20 components doesn't show anything impressive. I didn't see a = single stock=20 worth buying from a technical standpoint. Therefore, I wouldn't = even=20 call it a follow through day. </FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>As for the broader market, most of = the volume=20 came when stocks were moving down. Most of the stocks = on my=20 watchlist put in at least 75% of their day's volume on the=20 downside. </FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial=20 size=3D2>Rob =20 </FONT></DIV></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_0006_01C1BAB1.09E0F500-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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