RE: [CANSLIM] Ernie's Forecasts

From: "Mike Gibbons" <mikegibbons@proactech.com>
Subject: RE: [CANSLIM] Ernie's Forecasts
Date: Thu, 29 Aug 2002 12:28:43 -1000
Next Article (by Subject): Re: [CANSLIM] Ernie's Forecasts "Norman"
Previous Article (by Subject): Re: [CANSLIM] Ernie's Forecasts "rolf hertenstein"
Top of Thread: Re: [CANSLIM] Ernie's Forecasts "Norman"
Next in Thread: Re: [CANSLIM] Ernie's Forecasts "Norman"
Articles sorted by: [Date] [Author] [Subject]
My point was simply to say that there is a plausible explanation for the
occurance of fibonnaci numbers all around us in nature, and to ask the
question: Is there a plausible explanation for the occurance of fibonacci
series in stock market waves?

Aloha,

Mike Gibbons
Proactive Technologies, LLC
http://www.proactech.com


- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman
Sent: Thursday, August 29, 2002 12:17 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Ernie's Forecasts


I agree David, Mike, that mathematicians and statisticians can find all
sorts of "correlations" in nature.  And, I am also fascinated by these
little "Easter eggs", to use a programmers phrase for "hidden goodies".  But
correlation, by definition, does not infer a cause & effect relationship.
And, I know first hand that if these little circumstances are not
scrutinized VERY carefully and OBJECTIVELY, then even very intelligent folks
can come the wrong conclusion.  Plus, there are other variables that can
affect species in nature besides inheritance.  With that, I think I may have
come to end of my own intelligence on the matter (did I hear applause<G>),
and we are waaaayyyyy OT now.  Thanks for y'alls (yep, I'm from TX) input.

Norm
- ----- Original Message -----
From: "David Taggart" <dctag@mavericktrading.com>
To: <canslim@lists.xmission.com>
Sent: Thursday, August 29, 2002 4:58 PM
Subject: RE: [CANSLIM] Ernie's Forecasts


> Norm,
>
> Fibonacci ratios are found throughout nature.
> http://www.brooksdesign-ps.com/Code/Html/godna2.htm  also check out The
> Elliot Wave Theory by Frost it talks a lot about Fib ratios.  That being
> said I dont use them much.
>
> David
>
>
>
>
> Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman
> Sent: Thursday, August 29, 2002 3:14 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] Ernie's Forecasts
>
>
> Hi Maui Mike,
>
> OK, on topic and out of the shadows<G>  The investors.com chart shows a
low
> of 911.06.  I know that sometimes there are trades that confound the
> charting sites, so where can I get the same info you have?
>
> As for encoding Fib lines in DNA; that's a little far fetched even for
this
> Trekker to consider<G>  My ecology understanding dictates that genes
survive
> by increasing the reproductive success of the species.  Now I can think
> "outside of the box" as good as the next scientist, but this one doesn't
> seem to be in the same room with the box<g>  Looks like an observation has
> been made, now you have postulated a theory, who's gonna test it<G>
>
> Elliot wave theory is 'nother story and one that I don't have enuf
knowledge
> to address at this time.
>
> There, now *that's* OT!
>
> Norm
> ----- Original Message -----
> From: "Mike Gibbons" <mikegibbons@proactech.com>
> To: <canslim@lists.xmission.com>
> Sent: Thursday, August 29, 2002 4:01 PM
> Subject: RE: [CANSLIM] Ernie's Forecasts
>
>
> > Norm and kelly,
> >
> > I don't want to be picky, but the S&P 500 sank to below 905 at about
> 10:00.
> > It then rose and fell again with a turn later in the day at 911. So the
> turn
> > was actually lower than Ernie predicted.
> >
> > That said, I do agree that Ernie's forecasts since I've been following
> them
> > have certainly been on the money and within what I would consider
> > "experimental error".
> >
> > However, I have the same kind of feeling about Elliot Wave Theory as
> > Einstein had about the uncertainty principal - without a rational
> > explanation for why it works (if it does reliably), its hard to believe
in
> > it.
> >
> > I can understand fibonacci numbers recurring frequently in nature
because
> > they could be somehow encoded in DNA, but I have a hard time seeing how
> they
> > could apply to the stock market. But then again, I haven't put any time
> into
> > trying to understand the causal connection and my comments are based
> largely
> > on ignorance. If any member of the group can explain a possible causal
> > relationship, I would find that helpful.
> >
> > Also, why is this off topic? Understanding M is fundamental to CANSLIM
> > because 75% of stocks go with the flow.
> >
> > Aloha,
> >
> > Mike Gibbons
> > Proactive Technologies, LLC
> > http://www.proactech.com
> >
> >
> > -----Original Message-----
> > From: owner-canslim@lists.xmission.com
> > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Kelly Short
> > Sent: Thursday, August 29, 2002 10:36 AM
> > To: canslim@lists.xmission.com
> > Subject: RE: [CANSLIM] Ernie's Forecasts
> >
> >
> > Norm,
> >
> > I was commenting at lunch at perfectly he called it today and yesterday.
> > Almost to the hour. I wonder if he tracks the success of his
predictions.
> >
> > Kelly
> >
> > -----Original Message-----
> > From: Norman [mailto:theboyd@tisd.net]
> > Sent: Thursday, August 29, 2002 3:27 PM
> > To: canslim@lists.xmission.com
> > Subject: [CANSLIM] Ernie's Forecasts
> >
> >
> > All,
> >
> > I know it's a little (OK a lot<G>) off topic, but is interesting.  For
> those
> > of you who subscribed to Ernie's S&P 500 forecasts, did you notice he
has
> > apparently called this one perfectly.  He predicted a turn window or
> > 910-913.  Today it turned at 911.06.  For now, his crystal ball is
> working.
> > For those of you who are not subscribed I copied last nights forecast
> below.
> >
> > Norm
> >
> >
> > Once again today could be the bottom, as we came within a whisker of the
> > 910-913 target range, and both of my short term cycle indicators are
> > suggesting that a turn is imminent. While the next target level of
876-884
> > is still a possibility, at this point I would have to say that it is not
> > very likely that we will go that low.
> >
> >
> >
> > The 910-913 range has emerged as the high probability target for the
> > termination of this short term down move. The most likely scenario for
> > tomorrow would be a move slightly lower into the target range or just
> below
> > before the market terminates the move, and begins to go higher. The
second
> > most likely scenario is that the market will open higher and continue to
> > move higher from there. And the third most likely scenario would be a
> > continuation of the down move possibly as low as 900, with an intra-day
> > reversal featuring a closing price above at least 911. Each of these
> > scenarios involves the 910-913 target range.
> >
> >
> >
> > Despite the high probability that we are about to make a turn and not
> likely
> > to go much lower, until we see the turn confirmation signal this market
> > could still reach the lower target range
> >
> >
> >
> > E
> >
> >
> >
> > -
> > -To subscribe/unsubscribe, email "majordomo@xmission.com"
> > -In the email body, write "subscribe canslim" or
> > -"unsubscribe canslim".  Do not use quotes in your email.
> >
> >
>
____________________________________________________________________________
> > For your protection, this e-mail message has been scanned for viruses.
> > Visit us at http://www.neoris.com/
> >
> > -
> > -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.
>
>


- -
- -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.
Go to Jeff Salisbury LWGate Home Page.