Re: [CANSLIM] Too Soon To Buy? Seeking Wise Advice

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] Too Soon To Buy? Seeking Wise Advice
Date: Wed, 21 Aug 2002 02:34:17 -0400

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Jeffrey, distance from the 7/24 latest lows, whether measured in time or
price, makes little difference. What does matter is whether this is just a
short term bull rally in a continuing bear market, or marks the bottom
having been reached in July, and now embarked on a serious bull rally that
could last for years. For that, ask me again in six or twelve months, only
time will answer the question.

the question also depends on what you are trying to do. Personally, I am a
long term investor, willing to hold a stock for years if that makes sense to
me. For someone looking for a quick hit of 10 or 15%, it may already be too
late, as we already have index gains of 20% or thereabouts from the July
low. The chance we could gain another 10 or 15% from here, short term, are
so slight as to be disregarded. Just in a few weeks most markets have gone
from seriously oversold to measurably overbought.

For a long term investor, looking for some reversal to support putting money
at risk, the gains to date from 7/24 may not be any more significant than
that from 9/11/02.

- ----- Original Message -----
From: "Gasta, Jeffrey" <Jeff.Gasta@marriott.com>
To: <canslim@lists.xmission.com>
Sent: Tuesday, August 20, 2002 4:22 PM
Subject: [CANSLIM] Too Soon To Buy? Seeking Wise Advice


Hello,

For the first time since I started studying CANSLIM (two months), I see IBD
giving optimistic comments.  Are we far enough away from the July 24th
market bottom to buy stocks?  If not, what conditions still need to be met?
Many thanks to all of you - have learned a lot and didn't have to loose
money in the process!  jg

Jeffrey Gasta
Telecommunications Engineering
Marriott International
Voice:  301.380.6204
Fax:  301.380.8649
jeff.gasta@marriott.com



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