Re: [CANSLIM] NAZ: Third distribution day in a week?

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] NAZ: Third distribution day in a week?
Date: Mon, 28 Oct 2002 19:53:17 -0500

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The "W" pattern that has been developing in most indexes can now also be =
seen as a "head and shoulders" pattern. Too early yet to say which wins =
out, bull or bear, but the distribution is voting for the bear at this =
point. May just prove to be profit taking (I hope so), but I am still =
remaining in cash until "M" tells me where we go from here.

- ----- Original Message -----=20
From: Ian=20
To: canslim@lists.xmission.com=20
Sent: Monday, October 28, 2002 11:46 AM
Subject: [CANSLIM] NAZ: Third distribution day in a week?


Hi all:

If the NAZ closes red today, it's going to be the third distribution day =
since last Tuesday. That's a lot of selling in a short time, but hasn't =
really had any negative effect on the level yet. What are people making =
of this?

Thanks,

Ian
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<DIV><FONT face=3DArial>The "W" pattern that has been developing in most =
indexes=20
can now also be seen as a "head and shoulders" pattern. Too early yet to =
say=20
which wins out, bull or bear, but the distribution is voting for the =
bear at=20
this point. May just prove to be profit taking (I hope so), but I am =
still=20
remaining in cash until "M" tells me where we go from here.</FONT></DIV>
<DIV><FONT face=3DArial></FONT>&nbsp;</DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3Dianstm@shaw.ca href=3D"mailto:ianstm@shaw.ca">Ian</A> </DIV>
<DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
 </DIV>
<DIV><B>Sent:</B> Monday, October 28, 2002 11:46 AM</DIV>
<DIV><B>Subject:</B> [CANSLIM] NAZ: Third distribution day in a=20
week?</DIV></DIV>
<DIV><BR></DIV>
<DIV><FONT size=3D2>Hi all:</FONT></DIV>
<DIV><FONT size=3D2></FONT>&nbsp;</DIV>
<DIV><FONT size=3D2>If the NAZ closes red today, it's going to be the =
third=20
distribution day since last Tuesday. That's a lot of selling in a short =
time,=20
but hasn't really had any negative effect on the level yet. What are =
people=20
making of this?</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=3D2>Thanks,</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=3D2>Ian</FONT></DIV></BODY></HTML>

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