Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] Bear Rally?
Date: Sat, 13 Apr 2002 11:49:10 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_0021_01C1E2E1.39600E80 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable MessageHi Duke, I read the article and thought the same thing. I think the real issue is = that when all stocks are not in a Bull Market, you can't talk = meaningfully about "THE Market" any longer. For example, the last couple = of years of "the great Bull", the Dow ran sideways while the NASDAQ = screamed. The article today only reinforces that notion. That is, some = stocks are going up, others are going down, others are moving sideways. = That's always the case, but when equities aren't the absolute best place = to put your money for "sure" gains, the marginal dollars will flow to = other investment classes and the rest of the market will ebb and flow. = If nothing else, it just reminds us as CANSLIM investors that we have to = pick only the best candidates and follow sound buy/sell rules. I don't = think there's going to be a clear direction for "the Market" as a whole = for many years. We're going to have to read the health of the CANSLIM = market (i.e. CANSLIM-quality stocks) and then go for strength within = that. Katherine PS.... The term "rally" is used in many contexts, even within the IBD = and Investors.com. Is it an upswing? Is it action after a followthru = day? Is it a Bull? How persistent does an upswing need to be before it's = no longer considered "a rally"? Rally relative to what? relative to = when? Geez....very confusing terminology. ----- Original Message -----=20 From: Duke Miller=20 To: CANSLIM=20 Sent: Saturday, April 13, 2002 11:35 AM Subject: [CANSLIM] Bear Rally? I don't want to start anything, but....since it's the weekend. Did anybody notice in this morning's IBD a contradiction that begs the = question as to what kind of market we're in? To wit: Quoting from Investor's Corner, front page: "Take the action of a few = S&P indexes since the market's Sept. 28 follow-through, signaling the = start of the current rally." On the next page (A2) under the headline = "Investors fear profitless recovery," we read: "Despite the long bear = market, stock valuations remain above historical norms and assume strong = profit growth going forward." (Italics are mine.) I think I have the answer: IBD relentlessly takes credit for calling = the last big market move south, so could it be they're posturing for the = next market direction? Either way it goes, they can claim supremacy. =20 Then again, maybe we should have a national election and let the = investor's decide. I live in the district in Florida where Katherine = Harris is making a bid for Congress. We could (as we did in the last = Presidential election) let her decide the ultimate winner! Not that she = needs more publicity, what with all the hanging chads and so forth. So what kind of market are we in, anyway? Duke - ------=_NextPart_000_0021_01C1E2E1.39600E80 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><TITLE>Message</TITLE> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2600.0" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV>Hi Duke,</DIV> <DIV> </DIV> <DIV>I read the article and thought the same thing. I think the real = issue is=20 that when all stocks are not in a Bull Market, you can't talk = meaningfully about=20 "THE Market" any longer. For example, the last couple of years of "the = great=20 Bull", the Dow ran sideways while the NASDAQ screamed. The article today = only=20 reinforces that notion. That is, some stocks are going up, others are = going=20 down, others are moving sideways. That's always the case, but when = equities=20 aren't the absolute best place to put your money for "sure" gains, the = marginal=20 dollars will flow to other investment classes and the rest of the market = will=20 ebb and flow. If nothing else, it just reminds us as CANSLIM investors = that we=20 have to pick only the best candidates and follow sound buy/sell rules. I = don't=20 think there's going to be a clear direction for "the Market" as a whole = for many=20 years. We're going to have to read the health of the CANSLIM market = (i.e.=20 CANSLIM-quality stocks) and then go for strength within that.</DIV> <DIV> </DIV> <DIV>Katherine</DIV> <DIV> </DIV> <DIV>PS.... The term "rally" is used in many contexts, even within the = IBD and=20 Investors.com. Is it an upswing? Is it action after a followthru day? Is = it a=20 Bull? How persistent does an upswing need to be before it's no longer = considered=20 "a rally"? Rally relative to what? relative to when? Geez....very = confusing=20 terminology.</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=3Ddukemill@tampabay.rr.com = href=3D"mailto:dukemill@tampabay.rr.com">Duke=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</A> </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Saturday, April 13, 2002 = 11:35=20 AM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Bear = Rally?</DIV> <DIV><BR></DIV> <DIV><SPAN class=3D404102216-13042002><FONT face=3DArial>I don't want = to start=20 anything, but....since it's the weekend.</FONT></SPAN></DIV> <DIV><SPAN class=3D404102216-13042002><FONT=20 face=3DArial></FONT></SPAN> </DIV> <DIV><SPAN class=3D404102216-13042002><FONT face=3DArial>Did anybody = notice in=20 this morning's IBD a contradiction that begs the question as to what = kind of=20 market we're in? To wit:</FONT></SPAN></DIV> <DIV><SPAN class=3D404102216-13042002><FONT=20 face=3DArial></FONT></SPAN> </DIV> <DIV><SPAN class=3D404102216-13042002><FONT face=3DArial>Quoting from = Investor's=20 Corner, front page: "Take the action of a few S&P indexes = since the=20 market's Sept. 28 follow-through, signaling the start of the = <EM>current=20 ra</EM>lly." On the next page (A2) under the headline "Investors = fear=20 profitless recovery," we read: "Despite the long <EM>bear = market</EM>,=20 stock valuations remain above historical norms and assume strong = profit growth=20 going forward." (Italics are mine.)</FONT></SPAN></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><SPAN class=3D404102216-13042002><FONT face=3DArial>I think I = have the=20 answer: IBD relentlessly takes credit for calling the last big = market=20 move south, so could it be they're posturing for the next market=20 direction? Either way it goes, they can claim supremacy. =20 </FONT></SPAN></DIV> <DIV><SPAN class=3D404102216-13042002><FONT=20 face=3DArial></FONT></SPAN> </DIV> <DIV align=3Dleft><SPAN class=3D404102216-13042002><FONT = face=3DArial>Then again,=20 maybe we should have a national election and let the investor's = decide. =20 I live in the district in Florida where Katherine Harris is making a = bid for=20 Congress. We could (as we did in the last Presidential election) = let her=20 decide the ultimate winner! Not that she needs more publicity, = what with=20 all the hanging chads and so forth.</FONT></SPAN></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><SPAN class=3D404102216-13042002><FONT face=3DArial>So what kind = of market=20 are we in, anyway?</FONT></SPAN></DIV> <DIV><SPAN class=3D404102216-13042002><FONT=20 face=3DArial></FONT></SPAN> </DIV> <DIV><SPAN class=3D404102216-13042002><FONT=20 face=3DArial>Duke</FONT></SPAN></DIV></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_0021_01C1E2E1.39600E80-- - - - -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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