Go to Jeff Salisbury LWGate Home Page.From: "Hill, Ernie" <Ernie.Hill@ElPaso.com>
Subject: RE: [CANSLIM] S&P 500 forecast
Date: Mon, 22 Apr 2002 17:43:13 -0500
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Harvey, I do expect a downturn If the market meets my projections. However, whether this downturn is a correction to the early stages of a new bull, a continuation of the current down trend that you alluded to, or a down swing in a sideways market is anyone's guess at this point. At this time the only thing I can say with any confidence about M is what I have already said. My methodology works best forecasting short to medium term moves in the market. It has application for longer term trends, but under current market conditions I cannot make any reliable forecasts as to the longer term direction of the market. The basis for my projections is my own blending of some technical analysis tools that I have accumulated through the years. Even if I were at liberty to discuss exactly how I arrive at the projections, I would likely be rebuked for doing so. I have in the past participated in technical analysis discussion on this list and was chastised for being off topic. E -----Original Message----- From: Harvey Brion [mailto:hbrion@ieee.org] Sent: Monday, April 22, 2002 11:30 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] S&P 500 forecast Ernie, We're clearly in a long term downtrend on the S&P and your numbers are 8-11% above the current levels so your projections suggest that we'll see the index move up to your numbers then resume the downtrend. In other words, we're now in a Bear rally and we'll continue the Bear after May 21/22? What's the basis for your projections? Thanks, -Harvey "Hill, Ernie" wrote: > At this point in time I have two high probability projections for the > next major turning point in the S&P 500. The highest probability is > for a turning point on May 21, 2002 at a price level of 1200. The > second highest probability is for a turning point on May 22, 2002 at a > price level of 1238. As we approach these dates one of these scenarios > should emerge as the most likely candidate. > > E > > ****************************************************************** > This email and any files transmitted with it from the ElPaso > Corporation are confidential and intended solely for the > use of the individual or entity to whom they are addressed. > If you have received this email in error please notify the > sender. > ****************************************************************** - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - - - -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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