Go to Jeff Salisbury LWGate Home Page.From: "rolf hertenstein" <rolfh@mindspring.com>
Subject: [CANSLIM] Do we quit counting?
Date: Fri, 10 May 2002 19:38:49 -0600
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Still trying to figure out WON rules regarding recognizing M bottoms.
Looks to me like the attempted rally is a bust after today, because:
1. we had distribution on the NYSE and NASD (though small volume=20
increases on both)
2. the NASD close low (1600) and close (1601) were both below the
intraday low on Wednesday, though the DOW held, and I'm not sure
about the S&P.
Comments? From Eric's analysis, Wednsday may have been a wishful
return to irrational exuberance based on CSCO's improved earnings.
Rolf
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<DIV><CODE><FONT face=3DArial size=3D2>Still trying to figure out WON =
rules=20
regarding recognizing M bottoms.</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2></FONT></CODE> </DIV>
<DIV><CODE><FONT face=3DArial size=3D2>Looks to me like the attempted =
rally is a=20
bust after today, because:</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2>1. we had distribution on the =
NYSE and NASD=20
(though small volume </FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2> increases on=20
both)</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2>2. the NASD close low (1600) and =
close (1601)=20
were both below the</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2> intraday low =
on Wednesday,=20
though the DOW held, and I'm not sure</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2> about the =
S&P.</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2></FONT></CODE> </DIV>
<DIV><CODE><FONT face=3DArial size=3D2>Comments? From Eric's =
analysis,=20
Wednsday may have been a wishful</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2>return to irrational exuberance =
based on=20
CSCO's improved earnings.</FONT></CODE></DIV>
<DIV><CODE><FONT face=3DArial size=3D2></FONT></CODE> </DIV>
<DIV><CODE><FONT face=3DArial =
size=3D2> Rolf</FONT></DIV></CODE></BODY></HTML>
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