Re: [CANSLIM] M

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] M
Date: Tue, 11 Mar 2003 15:28:51 -0500

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Ian,

My impression of the past weeks is that buyers are disappearing. So I would
read those up days as meaning sellers were not as motivated due external
reasons (no bad economic reports, some lessening in the immediacy of war
with Iraq, etc.). The down days therefore appear to me to be days when the
sellers were more motivated to sell, and buyers were still absent.

I do find it encouraging that so far the sellers, even with the absence of
significant buying, have not done more damage to the indexes.

Best parallel I can suggest would be to study the indexes during the months
leading up to Desert Storm beginning (mid Jan 1991 when the air war phase
was launched)

- ----- Original Message -----
From: "Ian" <ianstm@shaw.ca>
To: <canslim@lists.xmission.com>
Sent: Tuesday, March 11, 2003 3:38 PM
Subject: [CANSLIM] M


Hi all:

I was just looking at a chart of QQQ (NASDAQ-100) and noticed an odd
pattern:

Over the last 3 weeks (Since Feb 18 - 16 trading days) the QQQ's have had 6
days of increasing, above-average volume. On each of these 6 days, the index
went up. On nine of the ten days of declining, below-average volume, the
index went down.

Overall, the QQQ is down about 5% (from 25.25 to 24) over those 16 days.

Does anyone recognize this pattern and know if there are historical
precedents for the likely direction from here? Dp all these volume days with
no 'breakout' forward progress indicate distribution?

Thanks,

Ian



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