Go to Jeff Salisbury LWGate Home Page.From: "Rob Miller" <rmiller2@carolina.rr.com>
Subject: Re: [CANSLIM] Market Rally
Date: Thu, 11 Apr 2002 16:38:02 -0400
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I agree except that I don't think this rally has been meaningful enough =
yet. I am also just now seeing enough distribution days to call it into =
question, and most of the stocks on my watch are still moving sideways. =
That and so few stocks breaking out, maybe there never was a rally. Ah, =
but its all academic anyway. Besides, while some Canslim rules are easy =
to interpret, others are highly ambiguous. It's most important that we =
each follow a set of rules, not that we each read the rules the same =
way.=20
Rob=20
----- Original Message -----=20
From: Eric Jaenike=20
To: canslim@lists.xmission.com=20
Sent: Thursday, April 11, 2002 9:38 AM
Subject: Re: [CANSLIM] Market Rally
Agree that downturn materialized. As for requirement of undercutting =
low, I believe that applies to very early in the nascent rally only. =
Once a rally has moved the indices away from the low, the 3-5 day =
distribution rule takes effect. If you waited for an undercut of the =
previous low after a meaningful rally to call that rally dead, you'd be =
extremely late (assuming the rollover and downtrend even bought the =
indices below that previous low).=20
Eric=20
Katherine Malm <kmalm@earthlink.net> wrote:=20
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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<META content=3D"MSHTML 6.00.2715.400" name=3DGENERATOR></HEAD>
<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial size=3D2>I agree except that I don't think this =
rally has=20
been meaningful enough yet. I am also just now seeing enough =
distribution=20
days to call it into question, and most of the stocks on my watch are =
still=20
moving sideways. That and so few stocks breaking out, maybe =
there=20
never was a rally. Ah, but its all academic anyway. Besides, =
while=20
some Canslim rules are easy to interpret, others are highly =
ambiguous. =20
It's most important that we each follow a set of rules, not that we each =
read=20
the rules the same way. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Rob</FONT> </DIV>
<BLOCKQUOTE=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=3Dericjaenike@yahoo.com =
href=3D"mailto:ericjaenike@yahoo.com">Eric=20
Jaenike</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 =
9:38=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Market =
Rally</DIV>
<DIV><BR></DIV>
<P>Agree that downturn materialized. As for requirement of =
undercutting low, I=20
believe that applies to very early in the nascent rally only. Once a =
rally has=20
moved the indices away from the low, the 3-5 day distribution rule =
takes=20
effect. If you waited for an undercut of the previous low after a =
meaningful=20
rally to call that rally dead, you'd be extremely late (assuming the =
rollover=20
and downtrend even bought the indices below that previous low).=20
<P>Eric=20
<P> <B><I>Katherine Malm <kmalm@earthlink.net></I></B> =
wrote:=20
<BLOCKQUOTE=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px =
solid">
<META content=3D"MSHTML 6.00.2600.0" name=3DGENERATOR>
<STYLE></STYLE>
<DIV>Hi Rob,</DIV>
<DIV> </DIV>
<DIV>I just read the Ask Bill column and agree the wording is =
confusing.=20
Here's what I see for recent action on the NASDAQ:</DIV>
<DIV> </DIV>
<DIV>Recent low set 2/22/02, close 1696.6</DIV>
<DIV>By definition, a follow thru day (FTD) 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> </DIV>
<DIV>Heavy distribution days on: 3/20/02, 4/2/02, 4/3/02, =
4/9/02</DIV>
<DIV> </DIV>
<DIV>Unless things change quickly, the downtrend remains =
intact.</DIV>
<DIV> </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=20
href=3D"mailto:rmiller2@carolina.rr.com">Rob Miller</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</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. I noticed =
that on=20
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=20
lows. My understanding is that a rally is intact as long as =
the=20
first day of the rally attempt is not undercut. Therefore, =
the rally=20
beginning in February is still in force. You could argue =
that the=20
rally failed because so few Canslim stocks were breaking out, but =
I don't=20
recall that being a requirement to call the rally a failure, only =
a=20
measure of the rally's strength. IBD called the last follow =
through=20
day and I don't remember them calling the rally a failure =
yet. I=20
don't read IBD every day so I may be missing something, but are =
they=20
always this inconsistent. The columns on the front page have =
also=20
been questionable lately. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial =
size=3D2>Rob</FONT></DIV></BLOCKQUOTE></BLOCKQUOTE>
<P><BR>
<HR SIZE=3D1>
<B>Do You Yahoo!?</B><BR><A=20
href=3D"$rd_url/welcome/?http://taxes.yahoo.com/">Yahoo! Tax =
Center</A> - online=20
filing with TurboTax</BLOCKQUOTE></BODY></HTML>
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Top of Thread: Re: [CANSLIM] Market Rally "Katherine Malm"
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