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 08:47:07 -0500
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Correction A thru E for DGO.
----- Original Message -----=20
From: Gene Ricci=20
To: canslim@lists.xmission.com=20
Sent: Thursday, July 25, 2002 8:40 AM
Subject: Re: [CANSLIM] Was yesterday's rally for real?
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
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<DIV><FONT face=3D"Comic Sans MS">Correction A thru E for =
DGO.</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=3Dgenr@swbell.net href=3D"mailto:genr@swbell.net">Gene =
Ricci</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 =
8:40=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Was =
yesterday's=20
rally for real?</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3D"Comic Sans MS">Fred, IBD has A thru E, while DGO =
uses A thru=20
W with the addition of a Plus (+) or Minus (-) with their ACC/DIST.... =
which=20
do 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>=
=20
</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=20
rally 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. =20
The market was one in which all the technical indicators showed a =
major=20
oversold 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=20
of stocks rated A in the Acc/Dis ratings for IBD actually fell to an =
all-time low 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=20
energy 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=20
be very cautious in this market. You, of course, will make =
your own=20
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. =20
[The 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></BLOCKQUOTE></BODY></HTML>
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