Re: [CANSLIM] "M"

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] "M"
Date: Fri, 14 Mar 2003 08:53:36 -0500

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I start my count with yesterday, because of the combination of price gain
and volume. On Wednesday, volume improved, but only sufficient to turn a
down day into a moderate loss. Historically, maybe Wednesday will prove to
be a reversal day that marked a second bottom. But by itself I don't use it
as a starting point for counting. Thursday, on the other hand, can stand on
its own merits.

It also does not hurt that every major index participated Thursday, while
only most were benefiting on Wednesday

- ----- Original Message -----
From: "Rolf Hertenstein" <rolfh@mindspring.com>
To: <canslim@lists.xmission.com>
Sent: Friday, March 14, 2003 8:35 AM
Subject: Re: [CANSLIM] "M"


Does anyone count yesterday other than day 2, and if so, what and why?

 Rolf

> strictly market days, Mike
>
> ----- Original Message -----
> From: "Mike" <PatternDT@SoftHome.net>
> To: <canslim@lists.xmission.com>
> Sent: Friday, March 14, 2003 12:41 AM
> Subject: Re: [CANSLIM] "M"
>
>
> Certainly was a fine rally, the shorts are writhing in fear.  I wouldn't
be
> disappointed to see a retest soon, how that goes will be more telling.
>
> How are you counting the 4-7 days, market days or including weekends?
> Thanks,
> Mike
>
>
>  >>
> OK, we got a good rally today, whether it was just a relief rally, or
short
> covering, or maybe even a real rally, with real sidelined cash flowing
back
> in.
>
> Mutual funds only have two weeks to invest any cash in excess of their
> limits, and may have contributed. A delay in a vote at the UN is being
> credited, so just may be news driven, here today, gone tomorrow.
>
> Nonetheless, we certainly got a 2+% gain on every index, and on volume
well
> exceeding daily average. And that comes in a period when daily volume has
> been typically well under average.
>
> So, is anybody starting to count the days, looking for the follow thru day
> 4-7 days out? Coincidentally, that period might also fall just after war
> with Iraq is unilaterally initiated by the USA, which would cause at least
> some minor relief rally.
>
> Does anyone trust today's gains? With so much news, can we trust
technicals?
>
> Tom Worley
> stkguru@bellsouth.net
> AIM: TexWorley
> <<
>
>
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