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

From: Ian <ianstm@shaw.ca>
Subject: Re: [CANSLIM] NAZ: Third distribution day in a week?
Date: Mon, 28 Oct 2002 20:57:29 -0800
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Hi Tom:

You'll see in tomorrow's 'The Big Picture' that the IBD editors picked up on the 3 distribution days, along with failing breakouts, and are defensive once again.

Cheers,

Ian


  ----- Original Message ----- 
  From: Tom Worley 
  To: canslim@lists.xmission.com 
  Sent: Monday, October 28, 2002 4:53 PM
  Subject: Re: [CANSLIM] NAZ: Third distribution day in a week?


  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 ----- 
  From: Ian 
  To: canslim@lists.xmission.com 
  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 size=2>Hi Tom:</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>You'll see in tomorrow's 'The Big Picture' that the IBD 
editors picked up on the 3 distribution days, along with failing breakouts, and 
are defensive once again.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>Cheers,</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>Ian</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> 
  <A href="mailto:stkguru@bellsouth.net" title=stkguru@bellsouth.net>Tom 
  Worley</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A 
  href="mailto:canslim@lists.xmission.com" 
  title=canslim@lists.xmission.com>canslim@lists.xmission.com</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Monday, October 28, 2002 4:53 
  PM</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] NAZ: Third 
  distribution day in a week?</DIV>
  <DIV><BR></DIV>
  <DIV><FONT face=Arial>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.</FONT></DIV>
  <DIV><FONT face=Arial></FONT>&nbsp;</DIV>
  <DIV style="FONT: 10pt arial">----- Original Message ----- 
  <DIV style="BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A 
  href="mailto:ianstm@shaw.ca" title=ianstm@shaw.ca>Ian</A> </DIV>
  <DIV><B>To:</B> <A href="mailto:canslim@lists.xmission.com" 
  title=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 
  week?</DIV></DIV>
  <DIV><BR></DIV>
  <DIV><FONT size=2>Hi all:</FONT></DIV>
  <DIV><FONT size=2></FONT>&nbsp;</DIV>
  <DIV><FONT size=2>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?</FONT></DIV>
  <DIV>&nbsp;</DIV>
  <DIV><FONT size=2>Thanks,</FONT></DIV>
  <DIV>&nbsp;</DIV>
  <DIV><FONT size=2>Ian</FONT></DIV></BLOCKQUOTE></BODY></HTML>

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