Re: [CANSLIM] "M"

From: Ian <ianstm@shaw.ca>
Subject: Re: [CANSLIM] "M"
Date: Mon, 25 Mar 2002 11:17:20 -0800

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Personally, I'm glad the NASDAQ - and particularly the NASDAQ-100 is weak in
the face of strength in other places. IMHO, it is a very healthy sign. To
me, it means the market is separating the healthy companies from many
bloated sick techs, whose businesses show no sign of rebounding anytime
soon. It tells me that the market IS willing to run up healthy companies in
healthy sectors - so it is ok to buy healthy growing companies with friendly
charts. I believe that the fact that every company is not being run up
indiscriminately will make for a healthier market in the long run.

NYSE-buyers who sat on the sidelines missed out on massive gains from Oct 98
to March 2000. Perhaps NAZ-tech-only-buyers will be the ones missing out on
the next big bull???

I find myself cringing each time the NAZ jumps in a manic short squeeze,
since all it means is more nervousness when it comes back.

Ian



- ----- Original Message -----
From: Patrick Wahl <pjwahl@attbi.com>
To: <canslim@lists.xmission.com>
Sent: Monday, March 25, 2002 7:08 AM
Subject: Re: [CANSLIM] "M"


> I kept my vix post pretty thin since no one else seemed to be commenting
much on
> the market, but a few other things I've noticed - 4 indices I looked at
peaked at
> about Jan. 5 - the Russell, Dow, S&P and Nasdaq.  The first 2 have
exceeded the
> Jan 8 highs in the last two weeks, S&P is just hovering below those
January highs,
> but the NASDAQ is still considerably below them.  I also looked at a
cumulative
> advance deline line for the NYSE and the NASDAQ, and I notice the NYSE
line is
> up strongly, Nasdaq line is lagging badly.
>
> As to what it all means, that is more of a guess, but in the last big run
up in the
> 1990's the NASDAQ was the leader.  I don't know if leadership has changed
and the
> other indices will pull the NASDAQ up, or if the NASDAQ will drag the
others down.
> Anyway, NASDAQ doesn't look too healthy to me, would like to see all the
indices
> looking equally strong, or even the NASDAQ leading, not the NYSE.
>
>
> Yes Bill K., M is Market, last letter of CANSLIM.
>
> On 25 Mar 2002 at 7:54, Tom Worley wrote:
>
> > Haven't had much talk on "M" lately, aside from the one post on VIX
(which I
> > agree with, by the way, it's staying too low for comfort).
> >
> > Took a fast look around this morning, and noticed the severe overbought
> > conditions on both NYSE and NASDAQ have corrected to neutral. And 10 day
> > moving average of up/down volume is now slightly negative on NYSE and
> > substantially more on Naz.
> >
> > 10 day moving average of new highs remains moderately positive on both
of
> > these exchanges.
> >
> > The S&P500 chart looks surprisingly healthy (at least to me). And the
> > Russell 2000 has done better than I perceived from my portfolios. The
rest
> > looked decent if they can hold in this area, or better still start
trending
> > up.
> >
> > Tom Worley
> > stkguru@bellsouth.net
> > AIM: TexWorley
> >
> >
> >
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