Go to Jeff Salisbury LWGate Home Page.From: Eric Jaenike <ericjaenike@yahoo.com>
Subject: Re: [CANSLIM] Movi and other thoughts
Date: Tue, 29 Oct 2002 09:11:05 -0800 (PST)
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- --0-56577302-1035911465=:90489 Content-Type: text/plain; charset=us-ascii I agree completely. Following is a list of leaders I have been watching as a tell of the health of this rally. Look through the individual charts and you see a lot of post breakout weakness. ANT MME WLP RNR PETM TSCO JOSB CTMI PDCO ZMH BLUD MMSI BSX IDXX STE UHS HCA APPX ELAB FRX IGT PENN RINO JCOM TTWO CCCG YELL AZO ROL VAR PFGC ODSY. I also consider the action in the indices to be much weaker than the headline numbers might indicate. I wrote a series of pieces for another discussion group that I will forward to this group with subject line OT. (They stray from CANSLIM in a number of areas, so I don't post them here). There is some discussion of my concerns regarding the indices rallies we've seen, as well as other concerns about where we're headed. I think we are just beginning to see the weakness in the economy that accompanies a post bubble period. This economic weakness has been masked by extremely loose monetary and interest rate policies, which artificially boosted housing and consumer discretionary spending, temporarily boosting the economy. For more on this, see the following link: http://www.gmo.com/siteservercontents/marketcommentary/jg_letter_3q02.1035368485.pdf This rally has been supported by the wrong stocks, in my opinion. Stocks such as IBM, MU, INTC, etc., which have a disproportionate impact on the indices, and which have made this rally look stronger than it actually is. Eric "Edward W. Gjertsen II" <ed@macktracks.com> wrote:Just in case some of you were keeping score - we were out of our 1/2 position of MOVI at $17.91. We are seeing leading stocks (MOVI excluded) rolling over. When we have seen this in the past, the market soon followed. Anyone have similar insights? Ed Gjertsen II ed@macktracks.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. - --------------------------------- Do you Yahoo!? HotJobs - Search new jobs daily now - --0-56577302-1035911465=:90489 Content-Type: text/html; charset=us-ascii <P>I agree completely. Following is a list of leaders I have been watching as a tell of the health of this rally. Look through the individual charts and you see a lot of post breakout weakness. ANT MME WLP RNR PETM TSCO JOSB CTMI PDCO ZMH BLUD MMSI BSX IDXX STE UHS HCA APPX ELAB FRX IGT PENN RINO JCOM TTWO CCCG YELL AZO ROL VAR PFGC ODSY. <P>I also consider the action in the indices to be much weaker than the headline numbers might indicate. I wrote a series of pieces for another discussion group that I will forward to this group with subject line OT. (They stray from CANSLIM in a number of areas, so I don't post them here). There is some discussion of my concerns regarding the indices rallies we've seen, as well as other concerns about where we're headed. <P>I think we are just beginning to see the weakness in the economy that accompanies a post bubble period. This economic weakness has been masked by extremely loose monetary and interest rate policies, which artificially boosted housing and consumer discretionary spending, temporarily boosting the economy. For more on this, see the following link: <A href="http://www.gmo.com/siteservercontents/marketcommentary/jg_letter_3q02.1035368485.pdf">http://www.gmo.com/siteservercontents/marketcommentary/jg_letter_3q02.1035368485.pdf</A> <P>This rally has been supported by the wrong stocks, in my opinion. Stocks such as IBM, MU, INTC, etc., which have a disproportionate impact on the indices, and which have made this rally look stronger than it actually is. <P>Eric <P> <B><I>"Edward W. Gjertsen II" <ed@macktracks.com></I></B> wrote: <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid">Just in case some of you were keeping score - we were out of our 1/2<BR>position of MOVI at $17.91. We are seeing leading stocks (MOVI<BR>excluded) rolling over. When we have seen this in the past, the market<BR>soon followed. Anyone have similar insights?<BR><BR>Ed Gjertsen II<BR>ed@macktracks.com<BR><BR><BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your email.</BLOCKQUOTE><p><br><hr size=1>Do you Yahoo!?<br> <a href="http://rd.yahoo.com/careers/mailsig/*http://www.hotjobs.com ">HotJobs</a> - Search new jobs daily now - --0-56577302-1035911465=:90489-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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