Go to Jeff Salisbury LWGate Home Page.From: Spencer48@aol.com
Subject: Re: [CANSLIM] M
Date: Sat, 23 Nov 2002 20:33:54 EST
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Edward:
What gives me pause about the near future strength of the market is=20
this: The Investor's Intelligence Bullish Advisors are at 50%; the Bearish=20
Advisors are below 30%. These %s are very near bearish levels (based on pas=
t=20
experience with the percentages). This indicator, by the way, is in a=20
graphic at the bottom of The Big Picture page in IBD. =20
Also, all the indexes on the page are near a falling or leveling 200 da=
y=20
MA. =20
jans
In a message dated 11/21/2002 4:27:56 PM Eastern Standard Time,=20
ed@macktracks.com writes:
<< We have found this recent rise to be of great interest. What we found
over the prior 34 months that when we bought leaders and were then
forced to sell - the next time any opportunities came to buy again was
at least 2-4 months later. This last time around =E2=80=93 it was 4 weeks.
This meant, in our opinion, that sellers were losing control. We are
now approximately 30% invested and climbing. During a CANSLIM seminar
with WON, one thing has stood out at us. WON mentioned that there are
very, very few perfect CANSLIM candidates. We try to use weight of the
evidence. This is not a pick and chose rule, but if things are not
perfect, what would tip the scales for us to purchase. One big item
which I hope starts its own life as a thread is position sizing. We
began purchasing =C2=BD positions to place a toe in the water. As stocks
came under some pressure, we then added to positions at key technical
points. We believe last Friday was a turning point for the markets. On
the weekly television/internet show I participate in, I mentioned how
well the market reacted to negative news. Intel downgrade, bad economic
numbers, etc. The Michigan consumer sentiment provided a boost, but the
market did not buckle to all the bad news, very impressive. Our firm
held client seminars on September 18 and 21st titled the =E2=80=9CEnd is Ne=
ar=E2=80=9D.
This was the first time since Oct =E2=80=9999 that we have been positive on=
the
market. The name of the seminar was an attention getter, but the
message was clear. We believe, as we do today, that there is a cyclical
(short-term, 3-6 month) opportunity here to make some money in the
market. We are still in a secular bear market until we are proven
otherwise. But in the meantime, we are buying. As always, I am very
impressed with the depth of knowledge this group brings to the table.
As this market heats up, I look forward to reading all your comments.
=20
=20
=20
Ed Gjertsen II
>>
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