Go to Jeff Salisbury LWGate Home Page.From: "Mike Gibbons" <mike@proactech.com>
Subject: RE: [CANSLIM] M where will it bottom?
Date: Mon, 22 Jul 2002 16:48:00 -1000
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Ernie,
Sorry to see you go. Thank you for sharing your insights. I hope you are
wrong about things not improving before March of next year, but fear you are
not.
Aloha,
Mike Gibbons
Proactive Technologies, LLC
http://www.proactech.com
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley
Sent: Monday, July 22, 2002 4:36 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] M where will it bottom?
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 -----
From: Hill, Ernie
To: 'canslim@lists.xmission.com'
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.
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
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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<DIV><SPAN class=3D800204602-23072002><FONT face=3DArial color=3D#0000ff =
size=3D2>Ernie,=20
</FONT></SPAN></DIV>
<DIV><SPAN class=3D800204602-23072002><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D800204602-23072002><FONT face=3DArial color=3D#0000ff =
size=3D2>Sorry=20
to see you go. Thank you for sharing your insights. I hope you are =
wrong=20
about things not improving before March of next year, but fear you are=20
not.</FONT></SPAN></DIV>
<DIV> </DIV>
<DIV><FONT face=3DArial size=3D2>Aloha,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Mike Gibbons<BR>Proactive Technologies, =
LLC</FONT></DIV>
<DIV><FONT face=3DArial size=3D2><A=20
href=3D"http://www.proactech.com/">http://www.proactech.com</A></FONT></D=
IV>
<BLOCKQUOTE>
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Tom=20
Worley<BR><B>Sent:</B> Monday, July 22, 2002 4:36 PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM] M where =
will it=20
bottom?<BR><BR></FONT></DIV>
<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=20
happen, but this is sure getting painful, and hard to make money any =
more.=20
Just staying ahead of the indexes (e.g. not losing money as fast) is=20
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,=20
Ernie</A> </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=20
where to expect this bear market to finally end. The head and =
shoulders=20
pattern the market has made predicts a bottom to be made in the <FONT=20
color=3Dred><SPAN style=3D"COLOR: red">560-575</SPAN></FONT> area. A =
.618=20
retracement of the entire move from 1982 to 2000 would give a target =
of <FONT=20
color=3Dred><SPAN style=3D"COLOR: red">566</SPAN></FONT> (arithmetic =
scale). Using=20
a log scale a .382 retracement of the same move yields a target price =
of <FONT=20
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=20
all of which point to roughly the same price. I expect there will be =
at least=20
one good strong rally before the ultimate bottom is reached. As for =
the time=20
frame when this bottom will occur that is much more difficult to =
forecast,=20
however, I 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=20
posts 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=20
the 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 =
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>********************************************************=
**********<BR>This=20
email and any files transmitted with it from the ElPaso =
<BR>Corporation are=20
confidential and intended solely for the <BR>use of the individual or =
entity=20
to whom they are addressed. <BR>If you have received this email in =
error=20
please notify the=20
=
<BR>sender.<BR>**********************************************************=
********<BR></BLOCKQUOTE></FONT></CODE></BODY></HTML>
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