Re: [CANSLIM] Ernie's Forecasts

From: "Norman" <theboyd@tisd.net>
Subject: Re: [CANSLIM] Ernie's Forecasts
Date: Thu, 29 Aug 2002 17:10:04 -0500
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Interesting.  Why does this not show up on the IBD chart?

Norm

- ----- Original Message -----
From: "Mike Gibbons" <mikegibbons@proactech.com>
To: <canslim@lists.xmission.com>
Sent: Thursday, August 29, 2002 5:04 PM
Subject: RE: [CANSLIM] Ernie's Forecasts


> Hi Norm,
>
> My information came from quotetracker as follows:
>
>
>
> As for my hypothesis about DNA and fibonacci numbers: DNA transmits the
code by which every organsim develops. So the "shape" of a
> plant for example is determined by its DNA. I recall (although its been a
long time ) that fibonacci numbers are found, for example,
> in the number of leaves on a fern frond. In other words, that fibonacci
pattern must have been encoded in the DNA in some way.
> Presumanbly, also, ferns with that DNA pattern were "fitter" for survival
than ferns that didn't have fibonacci numbers encoded in
> their DNA. Now we are definitely off topic, but I enjoy a little
intellectual diversion sometimes.
>
> 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 11:14 AM
> 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
> >
> >
> >
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