Re: "M" (was Re: [CANSLIM] S&P 500 forecast)

From: "david frank" <camelot.homes@charter.net>
Subject: Re: "M" (was Re: [CANSLIM] S&P 500 forecast)
Date: Tue, 23 Apr 2002 11:59:20 -0500
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MessageIan, what do you suggest that the new revise CANSLIM definition =
be??????????????? david
  ----- Original Message -----=20
  From: Ian=20
  To: canslim@lists.xmission.com=20
  Sent: Tuesday, April 23, 2002 11:45 AM
  Subject: Re: "M" (was Re: [CANSLIM] S&P 500 forecast)


  I can't help thinking that we are in the period that represents "The =
Great CANSLIM Contradiction":

  1. M must be rising
  2. We must be only buying stocks with strongly rising revenues and EPS
  3. We shouldn't be buying 'yesteryears winners', whose revenues and =
EPS are declining
  4. The indexes are made up of '3'
  5. 'M' is defined as '4', the indexes

  Ian

    ----- Original Message -----=20
    From: Duke Miller=20
    To: canslim@lists.xmission.com=20
    Sent: Tuesday, April 23, 2002 6:13 AM
    Subject: RE: "M" (was Re: [CANSLIM] S&P 500 forecast)


    Since (and I agree) M is the most important letter in the alphabet, =
and since it's as choppy and ill-defined as it is, and since it is often =
ignored and overlooked, then I only have two questions? =20

    1) What's to discuss?

    2) Why are you fully invested under this cloud?

    WON says when M's like this the best tactic and virtue is patience.  =
I couldn't agree more.  I continue to lurk and look at the future =
potentials.

    Duke


      -----Original Message-----
      From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Tom Worley
      Sent: Tuesday, April 23, 2002 8:42 AM
      To: canslim@lists.xmission.com
      Subject: "M" (was Re: [CANSLIM] S&P 500 forecast)


      I would like to see some serious discussion here on "M". It is the =
most important of the seven letters in CANSLIM, and is so often ignored =
or overlooked.=20

      The small caps continue to work for me, and I remain fully =
invested in all accounts. Money appears to be shifting back from value =
to growth. Volume appears to be picking up. But because I don't focus on =
the mid caps, I often wonder what may also be happening there.

      Tom Worley
      stkguru@bellsouth.net
      AIM: TexWorley
      ----- Original Message -----=20
      From: Hill, Ernie=20
      To: 'canslim@lists.xmission.com'=20
      Sent: Monday, April 22, 2002 12:07 PM
      Subject: RE: [CANSLIM] S&P 500 forecast


      Hi Tom,

      =20

      It is purely my version of TA. It has really helped me in my =
trading.

      =20

      I would not present these forecasts to the group if I were not =
confident in them. My purpose in posting these forecasts is to give back =
some value to a group that has given me value. Determining market =
direction has not been very easy to do lately. It is my hope that as =
some group members gain some confidence that I may actually know what I =
am talking about that they could use these forecasts as another tool to =
benefit them in their CANSLIM investments.

      =20

      E

      =20

      PS: Today is certainly not adding to my credibility J

      =20

      -----Original Message-----
      From: Tom Worley [mailto:stkguru@bellsouth.net]
      Sent: Monday, April 22, 2002 7:16 AM
      To: canslim@lists.xmission.com
      Subject: Re: [CANSLIM] S&P 500 forecast

      =20

      I don't understand your reasoning for this, Ernie, but I would =
certainly cheer 1238 on the S&P500 by then.

      =20

      Tom Worley
      stkguru@bellsouth.net
      AIM: TexWorley

      ----- Original Message -----=20


      From: Hill, Ernie=20

      To: CANSLIM=20

      Sent: Saturday, April 20, 2002 10:08 PM

      Subject: [CANSLIM] S&P 500 forecast

      =20

      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.

      =20

      E



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<DIV><FONT face=3DArial size=3D2>Ian, what do you suggest that the new =
revise=20
CANSLIM definition be??????????????? david</FONT></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=3Dianstm@shaw.ca href=3D"mailto:ianstm@shaw.ca">Ian</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> Tuesday, April 23, 2002 =
11:45=20
  AM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: "M" (was Re: =
[CANSLIM]=20
  S&amp;P 500 forecast)</DIV>
  <DIV><BR></DIV>
  <DIV><FONT size=3D2>I can't help thinking that we are in the period =
that=20
  represents "The Great CANSLIM Contradiction":</FONT></DIV>
  <DIV>&nbsp;</DIV>
  <DIV><FONT size=3D2>1. M must be rising</FONT></DIV>
  <DIV><FONT size=3D2>2. We must be only buying stocks with strongly =
rising=20
  revenues and EPS</FONT></DIV>
  <DIV><FONT size=3D2>3. We shouldn't be buying 'yesteryears winners', =
whose=20
  revenues and EPS are declining</FONT></DIV>
  <DIV><FONT size=3D2>4. The indexes are made up of '3'</FONT></DIV>
  <DIV><FONT size=3D2>5. 'M' is defined as '4', the indexes</FONT></DIV>
  <DIV>&nbsp;</DIV>
  <DIV><FONT size=3D2>Ian</FONT></DIV>
  <DIV>&nbsp;</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=3Ddukemill@tampabay.rr.com=20
    href=3D"mailto:dukemill@tampabay.rr.com">Duke 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>=
=20
    </DIV>
    <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, April 23, 2002 =
6:13=20
    AM</DIV>
    <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: "M" (was Re: =
[CANSLIM]=20
    S&amp;P 500 forecast)</DIV>
    <DIV><BR></DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT face=3DArial>Since (and =
I=20
    agree)&nbsp;M is the most important letter in the alphabet, =
and&nbsp;since=20
    it's as choppy and ill-defined as it is, and since it is often =
ignored and=20
    overlooked, then I only have two questions?&nbsp; =
</FONT></SPAN></DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT=20
    face=3DArial></FONT></SPAN>&nbsp;</DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT face=3DArial>1) What's =
to=20
    discuss?</FONT></SPAN></DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT=20
    face=3DArial></FONT></SPAN>&nbsp;</DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT face=3DArial>2) Why are =
you fully=20
    invested under this cloud?</FONT></SPAN></DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT=20
    face=3DArial></FONT></SPAN>&nbsp;</DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT face=3DArial>WON says =
when M's like=20
    this the best tactic and virtue is patience.&nbsp; I couldn't agree=20
    more.&nbsp; I continue to lurk and look at the future=20
    potentials.</FONT></SPAN></DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT=20
    face=3DArial></FONT></SPAN>&nbsp;</DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT=20
face=3DArial>Duke</FONT></SPAN></DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT=20
    face=3DArial></FONT></SPAN>&nbsp;</DIV>
    <DIV><SPAN class=3D701060813-23042002><FONT=20
    face=3DArial></FONT></SPAN>&nbsp;</DIV>
    <BLOCKQUOTE style=3D"MARGIN-RIGHT: 0px">
      <DIV></DIV>
      <DIV class=3DOutlookMessageHeader lang=3Den-us dir=3Dltr =
align=3Dleft><FONT=20
      face=3DTahoma size=3D2>-----Original Message-----<BR><B>From:</B>=20
      owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]=20
      <B>On Behalf Of </B>Tom Worley<BR><B>Sent:</B> Tuesday, April 23, =
2002=20
      8:42 AM<BR><B>To:</B> =
canslim@lists.xmission.com<BR><B>Subject:</B> "M"=20
      (was Re: [CANSLIM] S&amp;P 500 forecast)<BR><BR></FONT></DIV>
      <DIV><FONT face=3DArial>I would like to see some serious =
discussion here on=20
      "M". It is the most important of the seven letters in CANSLIM, and =
is so=20
      often ignored or overlooked. </FONT></DIV>
      <DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
      <DIV><FONT face=3DArial>The small caps continue to work for me, =
and I remain=20
      fully invested in all accounts. Money appears to be shifting back =
from=20
      value to growth. Volume appears to be picking up. But because I =
don't=20
      focus on the mid caps, I often wonder what may also be happening=20
      there.</FONT></DIV>
      <DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
      <DIV>Tom Worley<BR><A=20
      =
href=3D"mailto:stkguru@bellsouth.net">stkguru@bellsouth.net</A><BR>AIM:=20
      TexWorley</DIV>
      <DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
      <DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> =
<A=20
      title=3DErnie.Hill@ElPaso.com =
href=3D"mailto:Ernie.Hill@ElPaso.com">Hill,=20
      Ernie</A> </DIV>
      <DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
      =
href=3D"mailto:'canslim@lists.xmission.com'">'canslim@lists.xmission.com'=
</A>=20
      </DIV>
      <DIV><B>Sent:</B> Monday, April 22, 2002 12:07 PM</DIV>
      <DIV><B>Subject:</B> RE: [CANSLIM] S&amp;P 500 =
forecast</DIV></DIV>
      <DIV><BR></DIV>
      <DIV class=3DSection1>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt">Hi=20
      Tom,<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt"><![if =
!supportEmptyParas]><![endif]>&nbsp;<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt">It=20
      is purely my version of TA. It has really helped me in my=20
      trading.<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt"><![if =
!supportEmptyParas]><![endif]>&nbsp;<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt">I=20
      would not present these forecasts to the group if I were not =
confident in=20
      them. My purpose in posting these forecasts is to give back some =
value to=20
      a group that has given me value. Determining market direction has =
not been=20
      very easy to do lately. It is my hope that as some group members =
gain some=20
      confidence that I may actually know what I am talking about that =
they=20
      could use these forecasts as another tool to benefit them in their =
CANSLIM=20
      investments.<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt"><![if =
!supportEmptyParas]><![endif]>&nbsp;<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt">E<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt"><![if =
!supportEmptyParas]><![endif]>&nbsp;<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt">PS:=20
      Today is certainly not adding to my credibility =
</SPAN></FONT></SPAN><SPAN=20
      class=3DEmailStyle19><FONT face=3DWingdings color=3Dnavy><SPAN=20
      style=3D"FONT-FAMILY: Wingdings; mso-ascii-font-family: Arial; =
mso-hansi-font-family: Arial; mso-ansi-font-size: 12.0pt; mso-char-type: =
symbol; mso-symbol-font-family: Wingdings"><SPAN=20
      style=3D"mso-char-type: symbol; mso-symbol-font-family: =
Wingdings">J</SPAN></SPAN></FONT></SPAN><SPAN=20
      class=3DEmailStyle19><FONT face=3DArial color=3Dnavy><SPAN=20
      style=3D"FONT-FAMILY: Arial; mso-ansi-font-size: =
12.0pt"><o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal><SPAN class=3DEmailStyle19><FONT face=3DArial =
color=3Dnavy=20
      size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: =
12.0pt"><![if =
!supportEmptyParas]><![endif]>&nbsp;<o:p></o:p></SPAN></FONT></SPAN></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DTahoma=20
      color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: =
Tahoma">-----Original=20
      Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: =
bold">From:</SPAN></B> Tom=20
      Worley [mailto:stkguru@bellsouth.net]<BR><B><SPAN=20
      style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> Monday, April 22, =
2002 7:16=20
      AM<BR><B><SPAN style=3D"FONT-WEIGHT: bold">To:</SPAN></B>=20
      canslim@lists.xmission.com<BR><B><SPAN=20
      style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [CANSLIM] =
S&amp;P 500=20
      forecast</SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt"><![if =
!supportEmptyParas]><![endif]>&nbsp;<o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial color=3Dblack=20
      size=3D3><SPAN style=3D"FONT-SIZE: 12pt; COLOR: black; =
FONT-FAMILY: Arial">I=20
      don't understand your reasoning for this, Ernie, but I would =
certainly=20
      cheer 1238 on the S&amp;P500 by then.</SPAN></FONT><FONT =
color=3Dblack><SPAN=20
      style=3D"COLOR: black; mso-color-alt: =
windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      color=3Dblack size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; COLOR: black">&nbsp;</SPAN></FONT><FONT=20
      color=3Dblack><SPAN=20
      style=3D"COLOR: black; mso-color-alt: =
windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      color=3Dblack size=3D3><SPAN style=3D"FONT-SIZE: 12pt; COLOR: =
black">Tom=20
      Worley<BR><A=20
      =
href=3D"mailto:stkguru@bellsouth.net">stkguru@bellsouth.net</A><BR>AIM:=20
      TexWorley</SPAN></FONT><FONT color=3Dblack><SPAN=20
      style=3D"COLOR: black; mso-color-alt: =
windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial color=3Dblack=20
      size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial">----- =
Original=20
      Message -----=20
      <DIV style=3D"font-color: black"></SPAN></FONT><FONT face=3DArial =
color=3Dblack=20
      size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT>
      <P></P>
      <P class=3DMsoNormal=20
      style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; =
FONT-FAMILY: Arial">From:</SPAN></FONT></B><FONT=20
      face=3DArial color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial"> <A=20
      title=3DErnie.Hill@ElPaso.com =
href=3D"mailto:Ernie.Hill@ElPaso.com">Hill,=20
      Ernie</A> </SPAN></FONT><FONT face=3DArial color=3Dblack =
size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT></P></DIV>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; =
FONT-FAMILY: Arial">To:</SPAN></FONT></B><FONT=20
      face=3DArial color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial"> <A=20
      title=3Dcanslim@lists.xmission.com=20
      href=3D"mailto:canslim@lists.xmission.com">CANSLIM</A> =
</SPAN></FONT><FONT=20
      face=3DArial color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; =
FONT-FAMILY: Arial">Sent:</SPAN></FONT></B><FONT=20
      face=3DArial color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial"> =
Saturday, April=20
      20, 2002 10:08 PM</SPAN></FONT><FONT face=3DArial color=3Dblack =
size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
      color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; COLOR: black; =
FONT-FAMILY: Arial">Subject:</SPAN></FONT></B><FONT=20
      face=3DArial color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial"> =
[CANSLIM]=20
      S&amp;P 500 forecast</SPAN></FONT><FONT face=3DArial color=3Dblack =

      size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
      color=3Dblack size=3D3><SPAN style=3D"FONT-SIZE: 12pt; COLOR: =
black"><![if !supportEmptyParas]><![endif]>&nbsp;</SPAN></FONT><FONT=20
      color=3Dblack><SPAN=20
      style=3D"COLOR: black; mso-color-alt: =
windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial color=3Dblack=20
      size=3D2><SPAN style=3D"FONT-SIZE: 10pt; COLOR: black; =
FONT-FAMILY: Arial">At=20
      this point in time I have two high probability projections for the =
next=20
      <U>major turning point</U> in the S&amp;P 500. The highest =
probability is=20
      for a turning point on <st1:date Year=3D"2002" Day=3D"21" =
Month=3D"5">May 21,=20
      2002</st1:date> at a price level of 1200. The second highest =
probability=20
      is for a turning point on <st1:date Year=3D"2002" Day=3D"22" =
Month=3D"5">May 22,=20
      2002</st1:date> at a price level of 1238. As we approach these =
dates one=20
      of these scenarios should emerge as the most likely=20
      candidate.</SPAN></FONT><FONT face=3DArial color=3Dblack =
size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial color=3Dblack=20
      size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: =
Arial">&nbsp;</SPAN></FONT><FONT=20
      face=3DArial color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3DArial color=3Dblack=20
      size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: =
Arial">E</SPAN></FONT><FONT=20
      face=3DArial color=3Dblack size=3D2><SPAN=20
      style=3D"FONT-SIZE: 10pt; COLOR: black; FONT-FAMILY: Arial; =
mso-color-alt: windowtext"><o:p></o:p></SPAN></FONT></P>
      <P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Courier New"=20
      color=3Dblack size=3D3><SPAN=20
      style=3D"FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Courier =
New'; mso-fareast-font-family: 'Courier New'"><BR><BR><CODE><SPAN=20
      style=3D"mso-ansi-font-size: 12.0pt; mso-bidi-font-size: =
12.0pt">*****************************************************************=
*</SPAN></CODE><BR><CODE><SPAN=20
      style=3D"mso-ansi-font-size: 12.0pt; mso-bidi-font-size: =
12.0pt">This email=20
      and any files transmitted with it from the ElPaso=20
      </SPAN></CODE><BR><CODE><SPAN=20
      style=3D"mso-ansi-font-size: 12.0pt; mso-bidi-font-size: =
12.0pt">Corporation=20
      are confidential and intended solely for the =
</SPAN></CODE><BR><CODE><SPAN=20
      style=3D"mso-ansi-font-size: 12.0pt; mso-bidi-font-size: =
12.0pt">use of the=20
      individual or entity to whom they are addressed.=20
      </SPAN></CODE><BR><CODE><SPAN=20
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12.0pt">If you have=20
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12.0pt">sender.</SPAN></CODE><BR><CODE><SPAN=20
      style=3D"mso-ansi-font-size: 12.0pt; mso-bidi-font-size: =
12.0pt">*****************************************************************=
*</SPAN></CODE></SPAN></FONT><FONT=20
      color=3Dblack><SPAN=20
      style=3D"COLOR: black; mso-color-alt: =
windowtext"><o:p></o:p></SPAN></FONT></P></DIV><CODE><FONT=20
      =
size=3D3><BR><BR>********************************************************=
**********<BR>This=20
      email and any files transmitted with it from the ElPaso =
<BR>Corporation=20
      are confidential and intended solely for the <BR>use of the =
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      entity to whom they are addressed. <BR>If you have received this =
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      error please notify the=20
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