Re: [CANSLIM] Follow Through Day

From: "Patrick Wahl" <pjwahl@attbi.com>
Subject: Re: [CANSLIM] Follow Through Day
Date: Sat, 27 Jul 2002 18:54:08 -0600

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I haven't done that because I'm not sure I want to watch stocks that are under their 
50 day, but you piqued my interest, so I modified the scan and tried it again.  There 
was an additional condition I had forgotten about, so removed that too.  Looking for 
stocks priced at 16 or better, eps and revenue growth at least 22%, stocks over a 
200 day MA and avg.daily volume > 40k turned up only 20 stocks.  That is not a 
very restrictive scan I don't think, and it is turning up next to nothing.  

I will be skeptical of any follow through day anyway, we aren't going to have a V 
bottom, so there will be time to gradually ease back into the market.  I've probably 
said this before, but at this time I don't see any industry that is going to lead the 
market higher.  No one is producing strong growth, I don't see a good "N" (new that 
is) industry out there right now.  I think we could get a bounce that might be good for 
trader types who have a short time horizon, say 3 to 4 weeks.

On 27 Jul 2002 at 16:49, Tom Worley wrote:

> Patrick, we fell so far, so fast, during the past month that I find very few
> decent stocks still holding above their 50 dma. Have you tried running the
> same scan using the 200 dma instead, and see what you get?

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