Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Market
Date: Thu, 21 Feb 2002 10:20:21 -0500
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Concur. I would add to this a reminder that the DOW is only 30 stocks, =
and all big caps. Hardly representative of the market, just the most =
watched index.
This week's unemployment claims is neutral, suggesting a stable picture =
on employment. Yesterday's Trade deficit report was significant, showing =
imports falling faster than exports, and giving us the first annual =
decline in trade deficits since 1995. Also suggests that Q4 GDP will be =
revised upward, further confirming the end of what now appears to have =
been a non-recession (only one qtr of declining GDP).
Tom Worley
stkguru@netside.net
AIM: TexWorley
----- Original Message -----=20
From: Fred Richards=20
To: canslim@lists.xmission.com=20
Sent: Thursday, February 21, 2002 9:23 AM
Subject: RE: [CANSLIM] Market
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. =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>Concur. I would add to this a reminder that the =
DOW is=20
only 30 stocks, and all big caps. Hardly representative of the market, =
just the=20
most watched index.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>This week's unemployment claims is neutral, =
suggesting a=20
stable picture on employment. Yesterday's Trade deficit report was =
significant,=20
showing imports falling faster than exports, and giving us the first =
annual=20
decline in trade deficits since 1995. Also suggests that Q4 GDP will be =
revised=20
upward, further confirming the end of what now appears to have been a=20
non-recession (only one qtr of declining GDP).</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV>Tom Worley<BR><A=20
href=3D"mailto:stkguru@netside.net">stkguru@netside.net</A><BR>AIM:=20
TexWorley</DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dadrich@gte.net href=3D"mailto:adrich@gte.net">Fred =
Richards</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, February 21, =
2002 9:23=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] =
Market</DIV>
<DIV><BR></DIV>
<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=20
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=20
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=20
it is published today, they will take profits. As always, look =
beneath=20
the reported numbers and see what are the real numbers. It is =
easy to=20
report declining unemployment when you take out 964,000 people as no =
longer=20
looking for work.</FONT></SPAN></DIV>
<DIV><SPAN class=3D970282014-21022002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D970282014-21022002><FONT face=3DArial =
color=3D#0000ff size=3D2>A=20
word to the wise . . . so they say.</FONT></SPAN></DIV>
<DIV><SPAN class=3D970282014-21022002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D970282014-21022002><FONT face=3DArial =
color=3D#0000ff=20
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=20
market indexes agree. Also, a valid follow through =
must show=20
power in individual stocks, which is not the case with the =
Dow. A look=20
at the 30 components doesn't show anything impressive. I =
didn't see a=20
single stock worth buying from a technical standpoint. =
Therefore, I=20
wouldn't even 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></BLOCKQUOTE></BODY></HTML>
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Next Article (by Subject): Re: [CANSLIM] Market "Tim Fisher"
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