[CANSLIM] M measured by the S&P 500 index

From: "Hill, Ernie" <Ernie.Hill@ElPaso.com>
Subject: [CANSLIM] M measured by the S&P 500 index
Date: Sat, 4 May 2002 22:28:37 -0500

Next Article (by Author): [CANSLIM] The Official Canslim/ERG Forum "Marty"
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Early next week we may challenge the low made on 4-30 and possibly even
undercut it slightly before moving up. The time window for the next
significant high turning point is from 5-16 to 5-28. There are several valid
price targets and high probability dates for those targets. I will give you
these dates and price targets that I see in my analysis. As the market
approaches these dates and targets we can determine the actual turning point
by how the market reacts to these possibilities.

The highest probability that I see is a target price of 1121 occurring on
5-16. Here are the rest of my targets in order of highest probability.

5-17	 1137
5-22	1124
5-16	1104
5-22    In the range of 1140 to 1155
And the smallest probability 5-28 at 1216.

I realize there are several targets and dates listed here but as the market
gets closer to the actual turning point I will be able to narrow down the
possibilities. The important thing is that a market turn should be expected
very near one of these dates and price levels. I could get cute like last
time and try to pick one specific target, and probably be humbled again.

You may be asking so what is the application to CANSLIM? Simply this, for
most CANSLIM investors the coming price bounce in the market will very
likely be too short and not strong enough for you to attempt to make a buy.
However, for the nimble this short and likely weak bounce could give us some
nice profits in some of the fast growing small caps where we have found some
success lately.

GOOD LUCK,
E


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