Re: [CANSLIM] Market Rally

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] Market Rally
Date: Thu, 11 Apr 2002 08:21:47 -0500
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Hi Rob,

I just read the Ask Bill column and agree the wording is confusing. =
Here's what I see for recent action on the NASDAQ:

Recent low set 2/22/02, close 1696.6
By definition, a follow thru day (FTD) on 3/4/02, close 1790
Uptrend stalled and turned around 3/8/02, close 1908
While a new bull doesn't start without a FTD, a FTD doesn't necessarily =
mean we are in a sustained rally.
Too many distribution days in a row makes it official, whatever chance =
there was of a rally on the NASDAQ is done for--

Heavy distribution days on: 3/20/02, 4/2/02, 4/3/02, 4/9/02

Unless things change quickly, the downtrend remains intact.

Katherine
  ----- Original Message -----=20
  From: Rob Miller=20
  To: canslim@lists.xmission.com=20
  Sent: Thursday, April 11, 2002 8:02 AM
  Subject: [CANSLIM] Market Rally


  I'm confused.  I noticed that on investors.com today, WON (or whoever =
answers these questions) states that there is no rally at this time =
because we haven't had a FTD off recent lows.  My understanding is that =
a rally is intact as long as the first day of the rally attempt is not =
undercut.  Therefore, the rally beginning in February is still in force. =
 You could argue that the rally failed because so few Canslim stocks =
were breaking out, but I don't recall that being a requirement to call =
the rally a failure, only a measure of the rally's strength.  IBD called =
the last follow through day and I don't remember them calling the rally =
a failure yet.  I don't read IBD every day so I may be missing =
something, but are they always this inconsistent.  The columns on the =
front page have also been questionable lately. =20

  Rob

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<DIV>Hi Rob,</DIV>
<DIV>&nbsp;</DIV>
<DIV>I just read the Ask Bill column and agree the wording is confusing. =
Here's=20
what I see for recent action on the NASDAQ:</DIV>
<DIV>&nbsp;</DIV>
<DIV>Recent low set 2/22/02, close 1696.6</DIV>
<DIV>By definition, a follow thru day (FTD)&nbsp;on 3/4/02, close =
1790</DIV>
<DIV>Uptrend stalled and turned around 3/8/02, close 1908</DIV>
<DIV>While a new bull doesn't start without a FTD, a FTD doesn't =
necessarily=20
mean we are in a sustained rally.</DIV>
<DIV>Too many distribution days in a row makes it official, whatever =
chance=20
there was of a rally on the NASDAQ is done for--</DIV>
<DIV>&nbsp;</DIV>
<DIV>Heavy distribution days on: 3/20/02, 4/2/02, 4/3/02, 4/9/02</DIV>
<DIV>&nbsp;</DIV>
<DIV>Unless things change quickly, the downtrend remains intact.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Katherine</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=3Drmiller2@carolina.rr.com =
href=3D"mailto:rmiller2@carolina.rr.com">Rob=20
  Miller</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, April 11, 2002 =
8:02=20
  AM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Market =
Rally</DIV>
  <DIV><BR></DIV>
  <DIV><FONT face=3DArial size=3D2>I'm confused.&nbsp; I noticed that on =

  investors.com today, WON (or whoever answers these questions) states =
that=20
  there is no rally at this time because we haven't had a FTD off recent =

  lows.&nbsp; My understanding is that a rally is intact as long as the =
first=20
  day of the rally attempt is not undercut.&nbsp; Therefore, the rally =
beginning=20
  in February is still in force.&nbsp; You could argue that the rally =
failed=20
  because so few Canslim stocks were breaking out, but I don't recall =
that being=20
  a requirement to call the rally a failure, only a measure of the =
rally's=20
  strength.&nbsp; IBD called the last follow through day and I don't =
remember=20
  them calling the rally a failure yet.&nbsp; I don't read IBD every day =
so I=20
  may be missing something, but are they always this inconsistent.&nbsp; =
The=20
  columns on the front page have also been questionable lately.&nbsp;=20
  </FONT></DIV>
  <DIV><FONT face=3DArial size=3D2></FONT>&nbsp;</DIV>
  <DIV><FONT face=3DArial =
size=3D2>Rob</FONT></DIV></BLOCKQUOTE></BODY></HTML>

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