Go to Jeff Salisbury LWGate Home Page.From: "Donald Wallker" <dougald@dmv.com>
Subject: Re: [CANSLIM] Health of the small cap growth sector
Date: Sun, 28 Jul 2002 14:21:49 -0400
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I guess I misread you. I thought you believed that the market was starting to get better.and would bottom out and turn around that way. Thus the bear market would probably not come to a screeching halt.and turn around in a couple of days. -And with that thought in mind I thought you had made a projection about reaching a bottom.- Sorry to have misread you. Donald - --- Original Message ----- From: "Tom Worley" <stkguru@bellsouth.net> To: <canslim@lists.xmission.com> Sent: Sunday, July 28, 2002 1:08 PM Subject: Re: [CANSLIM] Health of the small cap growth sector > Donald, I made no projection about reaching the bottom, just expressed my > opinion that when we get there it will not be clearly marked by one or two > days of capitulation. > > ----- Original Message ----- > From: "Donald Wallker" <dougald@dmv.com> > To: <canslim@lists.xmission.com> > Sent: Sunday, July 28, 2002 12:32 PM > Subject: Re: [CANSLIM] Health of the small cap growth sector > > > Tom ---I hope your projection about reching the bottom of the downturn comes > to pass in the near future. I personally believe that the market is caught > in a viscious downturn cycle. And that one of the big drivers is frightened > investors withdrawing their money from Mutual Funds. Since such > withdrawals are forcing the Mutual Funds to sell out of their positions in > order to cover their redemption payment needs, they , paint an very > untruthful picture of the health of the individual stocks. Moreover,since > the redemption needs of the Funds are massive, they tend to drive the market > to new lows that further frighten investors and cause them to withdraw more > money from the market --and so on. > ----- Original Message ----- > From: "Tom Worley" <stkguru@bellsouth.net> > To: "CANSLIM" <canslim@lists.xmission.com> > Sent: Sunday, July 28, 2002 10:15 AM > Subject: [CANSLIM] Health of the small cap growth sector > > > With some time on my hands this weekend and so few stocks worth looking > at, > > I decided to expand my normal review of stocks in my VR (Virtual Reality) > > Fund. Since we are well into the quarterly earnings reporting, I wanted to > > assess which ones had reported, and the quality and direction of the > > results, more than looking at how the chart looked. Basically, a drop back > > to more emphasis on fundamentals. I used my VR Fund rather than what I > own, > > or indexes, as it gave me a broader review of stocks with expected strong > > growth. > > > > In all, I was looking at 42 different stocks, mostly under $500 million > > market capitalization. Most I already hold in the Fund, several of which > > have not yet been purchased but are being monitored, or I missed an > initial > > entry point and am waiting to see if I can find an appropriate (tho > higher) > > entry. > > > > Of the 42, 18 have reported for the period ending 6/30/02, and of these 14 > > were up year over year, and most were also up sequentially. Three were > down > > either sequentially or year over year, or both. One was flat sequentially, > > but still up strong year over year. Of the remainder, 19 have yet to > report, > > and the remaining 5 are on a non-standard fiscal year with the quarter > > ending other than 6/30/02. > > > > Of the 19 yet to report, I sold one last week (naturally it immediately > > spiked 35%) for a loss, and dropped another from watching because of its > > fall in the past week. Very few of the 42 have good charts right now, > altho > > several were forming long consolidation patterns. I am encouraged, > however, > > with the earnings results, and continue to believe that fundamentals will > > win out in the long term. I suspect a similar review of mid cap, and > higher > > priced, stocks would show similar results. > > > > "M" is clearly still saying to remain in cash for now. CANSLIM says to > take > > this time to find the future leaders, and be ready for when they emerge > into > > a more favorable market. This review confirmed my belief that, at least in > > the small cap growth sector, earnings are improving, fundamentals are > > intact, and in time "M" will begin to reflect this. Although the market > did > > look healthier last week, there is still not conclusive evidence that a > > bottom has been reached. More and more, though, it is looking to me like > > this will be a bottom reached without screaming evidence of capitulation. > > > > Good luck to all, > > > > Tom Worley > > stkguru@bellsouth.net > > AIM: TexWorley > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. - - - -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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