Go to Jeff Salisbury LWGate Home Page.From: "Hill, Ernie" <Ernie.Hill@ElPaso.com>
Subject: [CANSLIM] M where will it bottom?
Date: Mon, 22 Jul 2002 21:26:10 -0500
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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.
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.
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.
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.
If any of you are interested in following my market forecasts you can do so
by sending a blank e-mail to:
snpforecasts-subscribe@topica.com <mailto:snpforecasts-subscribe@topica.com>
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.
Eventually the bear will hibernate and you guys will again RULE the
investment world.
I will miss ya'll
E
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<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>This forecast is meant to give you a good idea of where to expect t=
his
bear market to finally end. The head and shoulders pattern the market has m=
ade predicts
a bottom to be made in the <font color=3Dred><span style=3D'color:red'>560-=
575</span></font>
area. A .618 retracement of the entire move from 1982 to 2000 would give a
target of <font color=3Dred><span style=3D'color:red'>566</span></font> (ar=
ithmetic
scale). Using a log scale a .382 retracement of the same move yields a targ=
et
price of <font color=3Dred><span style=3D'color:red'>550</span></font>.<o:p=
></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>These are three targets obtained by different means all of which po=
int
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.<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>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 y=
ou.
This is certainly one of the finest lists on the net. I hope some of you ha=
ve
benefited from my posts, I know I have benefited from the posts made by man=
y of
you.<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>Unfortunately, I am just too busy now to read all of the e-mail I g=
et
every day. Since I am now 100% trader and no longer practice CANSLIM I gues=
s it
is time for me to move on.<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>If any of you are interested in following my market forecasts you c=
an
do so by sending a blank e-mail to:<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><a href=3D"mailto:snpforecasts-subscribe@topica.com">snpforecasts-s=
ubscribe@topica.com</a>
<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>This is not a discussion group it is only my distribution list to t=
hose
who follow my forecasts. It also provides me with a public record of my
forecasts.<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>Eventually the bear will hibernate and you guys will again RULE the
investment world.<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>I will miss ya'll<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'><o:p> </o:p></span></font></p>
<p class=3DMsoNormal><font size=3D3 face=3D"Times New Roman"><span style=3D=
'font-size:
12.0pt'>E<o:p></o:p></span></font></p>
<p class=3DMsoNormal><font size=3D2 face=3DArial><span style=3D'font-size:1=
0.0pt;
font-family:Arial'><o:p> </o:p></span></font></p>
</div>
<CODE><FONT SIZE=3D3><BR>
<BR>
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Next Article (by Subject): Re: [CANSLIM] M where will it bottom? "Tom Worley"
Previous Article (by Subject): Re: [CANSLIM] LU "Patrick Wahl"
Next in Thread: Re: [CANSLIM] M where will it bottom? "Tom Worley"
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