Re: [CANSLIM] test

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] test
Date: Sat, 6 Jul 2002 09:33:17 -0400
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Rolf, it's more complicated than that. Because of the holiday, most of the
"big" brokers (and presumably institutional money managers as well) took
Friday off entirely, and left early on Wednesday.  From my experience in the
industry, only the rookies and small producers were left in the office on
Friday. So the hours open is only part of the story on volume. Likewise,
many investor clients were also on holiday at least Friday, and thus not
likely available to trade.

In a "normal" post holiday calendar like this, I would expect the big
producers to come to work on Monday, thank the rookies for running up the
prices, and dump like crazy. However, Friday's rally was a "relief rally"
that we had no terrorist attacks over the 4th of July. So the rally,
combined with continued relief, may carry over into next week as everyone
gets back to work, and the bottom fishers, and the shorts, rush in before
prices go much higher. Only time will tell, don't buy on Monday just because
I am speculating on what "may" happen. Just wanted to point out that this
was not a normal Thursday holiday.

One thing I already did was look at the stocks in the Naz 100 (biggest index
gainer on Friday, up over 6%). I was surprised to see most did about half of
average daily volume, and quite a few were only down 20-30% from their ADV.
One (MOLX) was up 10% on ADV (I am not considering WCOME's 64% volume
increase over ADV). I want to look at the rest later, as well as a few other
indexes, to see which ones had the best volume, but first glance suggests a
lot were tech stocks.

- ----- Original Message -----
From: "rolf hertenstein" <rolfh@mindspring.com>
To: <canslim@lists.xmission.com>
Sent: Saturday, July 06, 2002 9:23 AM
Subject: Re: [CANSLIM] test


Volume was less than half the previous day's even
though the
market was open more than half the trading hours,
so I naively
took it as a low-volume rally.  Decliners lead
advancers as well.

I'll be unable to trade through Wednesday next
week (camping
trip), so the market likely will surge in my
absence.

 Rolf

>
> too bad today was a short day, hard to assess
the significance of the
> volume. But my gut, at this point without more
objective reviews I will do
> this weekend, tell me next week could be a
strong week for growth.
>
> ----- Original Message -----
> From: "Fanus" <fanus13@yahoo.com>
> To: <canslim@lists.xmission.com>
> Sent: Friday, July 05, 2002 11:06 PM
> Subject: Re: [CANSLIM] test
>
>
> And there you  blew the record Tom! :-) Guess
4th was
> pretty good this year... :-)
>
>
> --- Tom Worley <stkguru@bellsouth.net> wrote:
> > not a single email from the group today? I
think
> > that is a five or six year
> > record!!
> >
> > Tom Worley
> > stkguru@bellsouth.net
> > AIM: TexWorley
> >
> >
> >
> > -
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>
>
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