Go to Jeff Salisbury LWGate Home Page.From: Gene Ricci <genr@swbell.net>
Subject: Re: [CANSLIM] Was yesterday's rally for real?
Date: Thu, 25 Jul 2002 08:40:24 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_019F_01C233B6.EB58E050 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Fred, IBD has A thru E, while DGO uses A thru W with the addition of a = Plus (+) or Minus (-) with their ACC/DIST.... which do you use? Thanks, Gene ----- Original Message -----=20 From: Fred Richards=20 To: canslim@lists.xmission.com=20 Sent: Thursday, July 25, 2002 7:57 AM Subject: [CANSLIM] Was yesterday's rally for real? In analyzing yesterday's rally, I would make the following points for = your consideration: 1. A good deal of short covering occurred. I know that I covered = most of my short positions by 9:15 CDT. 2. A fear from a lot of people that they did not want to get left = missing the bottom fueled the buying in mostly large cap stocks.=20 3. The market was one in which all the technical indicators showed a = major oversold position. Yet, the breadth of the market was not heavily in favor of the upside. And the number of stocks rated A in the Acc/Dis ratings for IBD = actually fell to an all-time low hitting 106 yesterday. For the moment, this looks just like another relief rally in a bear = market. =20 Relief rallies rarely increase more than 15-20% from their low points = so a lot of energy has already by consumed. For me, I will be very cautious in this market. You, of course, will = make your own decisions. - -------------------------------------------------------------------------= - ----- Fred Richards Corruptisima republica plurimae leges. [The more corrupt a republic, = the more laws.] - - Tacitus, Annuals III 27 www.adrich.com - ------=_NextPart_000_019F_01C233B6.EB58E050 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 5.50.4916.2300" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3D"Comic Sans MS">Fred, IBD has A thru E, while DGO uses = A thru W=20 with the addition of a Plus (+) or Minus (-) with their ACC/DIST.... = which do=20 you use?</FONT></DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT> </DIV> <DIV><FONT face=3D"Comic Sans MS">Thanks,</FONT></DIV> <DIV><FONT face=3D"Comic Sans MS">Gene</FONT></DIV> <BLOCKQUOTE dir=3Dltr=20 style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; = BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV> <DIV=20 style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: = black"><B>From:</B>=20 <A title=3Dffradrich@attbi.com = href=3D"mailto:ffradrich@attbi.com">Fred=20 Richards</A> </DIV> <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A = title=3Dcanslim@lists.xmission.com=20 = href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>= </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, July 25, 2002 = 7:57=20 AM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] Was = yesterday's rally=20 for real?</DIV> <DIV><BR></DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D980034912-25072002>In = analyzing=20 yesterday's rally, I would make the following points for your=20 consideration:</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D980034912-25072002></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D980034912-25072002> 1. A=20 good deal of short covering occurred. I know that I covered most = of my=20 short positions by 9:15 CDT.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D980034912-25072002> 2. A=20 fear from a lot of people that they did not want to get left missing = the=20 bottom fueled the buying in mostly large cap=20 stocks. </SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D980034912-25072002> 3. The=20 market was one in which all the technical indicators showed a major = oversold=20 position.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D980034912-25072002></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D980034912-25072002>Yet, = the breadth=20 of the market was not heavily in favor of the = upside.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D980034912-25072002></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D980034912-25072002>And = the number of=20 stocks rated A in the Acc/Dis ratings for IBD actually fell to an = all-time low=20 hitting 106 yesterday.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D980034912-25072002></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D980034912-25072002>For = the moment,=20 this looks just like another relief rally in a bear market. =20 </SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D980034912-25072002></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D980034912-25072002>Relief rallies=20 rarely increase more than 15-20% from their low points so a lot = of energy=20 has already by consumed.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D980034912-25072002></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D980034912-25072002>For = me, I will be=20 very cautious in this market. You, of course, will make your own = decisions.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D980034912-25072002></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D980034912-25072002> <HR> </SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2>Fred Richards</FONT></DIV> <DIV> </DIV> <DIV><FONT face=3DArial size=3D2>Corruptisima republica plurimae = leges. [The=20 more corrupt a republic, the more laws.] - - Tacitus, Annuals = III=20 27</FONT></DIV> <DIV> </DIV> <DIV><FONT face=3DArial size=3D2><A=20 href=3D"http://www.adrich.com/">www.adrich.com</A></FONT></DIV> <DIV> </DIV></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_019F_01C233B6.EB58E050-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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