Re: [CANSLIM] "M"

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] "M"
Date: Fri, 14 Mar 2003 10:59:15 -0500
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I don't read IBD, so I have not seen the one comment quoted in the context
of the article. Yes, we had two days in a row where the market was up in
price. Yes, that means a two day rally. Does IBD also consider both days as
counting towards a FT day? I don't know, you would have to ask them, unless
the article so states.

Does IBD consistently represent WON teachings? NO

Do I believe WON would count Thursday as Day 2 towards the count for a FT
day? No

Do I believe WON would count Thursday as Day 1 towards the count for a FT
day? Yes

Hope that answers your questions.

- ----- Original Message -----
From: "Tim Katona" <tkat17@earthlink.net>
To: <canslim@lists.xmission.com>
Sent: Friday, March 14, 2003 10:53 AM
Subject: RE: [CANSLIM] "M"


Tom,
Yes, we are different. So back to Rolf's question "you think your count is
in accordance
with WON?" WON is counting from Wednesday per IBD and you are counting from
Thursday.
Tim


- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley
Sent: Friday, March 14, 2003 7:44 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] "M"


not quite, Tim. I take a slower approach. I also do not count Wednesday as a
"rally" day in my terms, simply a reversal day, since the price gain was not
significant (I want to see a 2% gain on volume above average). So Thursday
starts my rally, Friday thru Tuesday are days 1-3, and I watch for a FT day
starting next Wednesday.

I think most people would be a day ahead of me, using Thursday as Day 1, I
just count a little differently as I like to see the complete day first.

- ----- Original Message -----
From: "Tim Katona" <tkat17@earthlink.net>
To: <canslim@lists.xmission.com>
Sent: Friday, March 14, 2003 10:39 AM
Subject: RE: [CANSLIM] "M"


I'm counting Wednesday as 1st day of attempted rally, Thursday as 2nd day,
today as third day. Monday will be 4th day and first possible follow-thru
day. I think Tom and I are saying the same thing.
Tim


- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley
Sent: Friday, March 14, 2003 7:33 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] "M"


That's a true statement, it is the second day of an "attempted rally". What
I was referring to was counting the days from a rally for the purposes of a
FT (Follow Through) day. WON does not consider the 2nd or 3rd day in this.

- ----- Original Message -----
From: "Tim Katona" <tkat17@earthlink.net>
To: <canslim@lists.xmission.com>
Sent: Friday, March 14, 2003 10:29 AM
Subject: RE: [CANSLIM] "M"


IBD today's Big Picture says yesterday was "Second day of attempted rally"
Tim

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley
Sent: Friday, March 14, 2003 7:26 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] "M"


I think so, but welcome other opinions on this.

- ----- Original Message -----
From: "Rolf Hertenstein" <rolfh@mindspring.com>
To: <canslim@lists.xmission.com>
Sent: Friday, March 14, 2003 10:20 AM
Subject: Re: [CANSLIM] "M"


Thanks, Tom.  For my edification, do you think your count is in accordance
with WON?

 Rolf

> 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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