Go to Jeff Salisbury LWGate Home Page.From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] M where will it bottom?
Date: Mon, 22 Jul 2002 22:35:40 -0400
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Top of Thread: [CANSLIM] M where will it bottom? "Hill, Ernie"
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Ernie, sorry to hear you are leaving the group, I have a "Ernie Hill" =
folder, and have been saving your posts in hopes I can learn something =
from them.
If I finally panic out now, and capitulate, would that throw your =
forecasts off? I am so stubbornly bullish it's not likely to happen, but =
this is sure getting painful, and hard to make money any more. Just =
staying ahead of the indexes (e.g. not losing money as fast) is tough.
- ----- Original Message -----=20
From: Hill, Ernie=20
To: 'canslim@lists.xmission.com'=20
Sent: Monday, July 22, 2002 10:26 PM
Subject: [CANSLIM] M where will it bottom?
This forecast is meant to give you a good idea of where to expect this =
bear market to finally end. The head and shoulders pattern the market =
has made predicts a bottom to be made in the 560-575 area. A .618 =
retracement of the entire move from 1982 to 2000 would give a target of =
566 (arithmetic scale). Using a log scale a .382 retracement of the same =
move yields a target price of 550.
=20
These are three targets obtained by different means all of which point =
to roughly the same price. I expect there will be at least one good =
strong rally before the ultimate bottom is reached. As for the time =
frame when this bottom will occur that is much more difficult to =
forecast, however, I do not expect it to happen before March of next =
year.
=20
CANSLIM friends this will be my final post. It's difficult for me to =
leave this list because I feel I have formed a friendship with many of =
you. This is certainly one of the finest lists on the net. I hope some =
of you have benefited from my posts, I know I have benefited from the =
posts made by many of you.
=20
Unfortunately, I am just too busy now to read all of the e-mail I get =
every day. Since I am now 100% trader and no longer practice CANSLIM I =
guess it is time for me to move on.
=20
If any of you are interested in following my market forecasts you can do =
so by sending a blank e-mail to:
=20
snpforecasts-subscribe@topica.com=20
=20
This is not a discussion group it is only my distribution list to those =
who follow my forecasts. It also provides me with a public record of my =
forecasts.
=20
Eventually the bear will hibernate and you guys will again RULE the =
investment world.
=20
I will miss ya'll
=20
E
=20
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<DIV><FONT face=3DArial>Ernie, sorry to hear you are leaving the group, =
I have a=20
"Ernie Hill" folder, and have been saving your posts in hopes I can =
learn=20
something from them.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </DIV>
<DIV><FONT face=3DArial>If I finally panic out now, and capitulate, =
would that=20
throw your forecasts off? I am so stubbornly bullish it's not likely to =
happen,=20
but this is sure getting painful, and hard to make money any more. Just =
staying=20
ahead of the indexes (e.g. not losing money as fast) is =
tough.</FONT></DIV>
<DIV><FONT face=3DArial></FONT> </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, Ernie</A>=20
</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, July 22, 2002 10:26 PM</DIV>
<DIV><B>Subject:</B> [CANSLIM] M where will it bottom?</DIV></DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">This forecast is meant to give you a good idea =
of where=20
to expect this bear market to finally end. The head and shoulders =
pattern the=20
market has made predicts a bottom to be made in the <FONT =
color=3Dred><SPAN=20
style=3D"COLOR: red">560-575</SPAN></FONT> area. A .618 retracement of =
the entire=20
move from 1982 to 2000 would give a target of <FONT color=3Dred><SPAN=20
style=3D"COLOR: red">566</SPAN></FONT> (arithmetic scale). Using a log =
scale a=20
.382 retracement of the same move yields a target price of <FONT =
color=3Dred><SPAN=20
style=3D"COLOR: red">550</SPAN></FONT>.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">These are three targets obtained by different =
means all=20
of which point to roughly the same price. I expect there will be at =
least one=20
good strong rally before the ultimate bottom is reached. As for the time =
frame=20
when this bottom will occur that is much more difficult to forecast, =
however, I=20
do not expect it to happen before March of next=20
year.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">CANSLIM friends this will be my final post. =
It's=20
difficult for me to leave this list because I feel I have formed a =
friendship=20
with many of you. This is certainly one of the finest lists on the net. =
I hope=20
some of you have benefited from my posts, I know I have benefited from =
the posts=20
made by many of you.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">Unfortunately, I am just too busy now to read =
all of the=20
e-mail I get every day. Since I am now 100% trader and no longer =
practice=20
CANSLIM I guess it is time for me to move =
on.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">If any of you are interested in following my =
market=20
forecasts you can do so by sending a blank e-mail=20
to:<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><A=20
href=3D"mailto:snpforecasts-subscribe@topica.com">snpforecasts-subscribe@=
topica.com</A>=20
<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">This is not a discussion group it is only my=20
distribution list to those who follow my forecasts. It also provides me =
with a=20
public record of my forecasts.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">Eventually the bear will hibernate and you =
guys will=20
again RULE the investment world.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">I will miss ya'll<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3D"Times New Roman" size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt">E<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P></DIV><CODE><FONT=20
size=3D3><BR><BR>********************************************************=
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email and any files transmitted with it from the ElPaso <BR>Corporation =
are=20
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Top of Thread: [CANSLIM] M where will it bottom? "Hill, Ernie"
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