Re: [CANSLIM] M

From: Spencer48@aol.com
Subject: Re: [CANSLIM] M
Date: Fri, 14 Mar 2003 13:16:17 EST

Next Article (by Date): Re: [CANSLIM] Why Not Use WallStreetCity for Industry Groups - smallerversion "Joe McCall"
Previous Article (by Date): RE: [CANSLIM] "M" with references to WON books "Katherine Malm"
Articles sorted by: [Date] [Author] [Subject]

Ian:

     I haven't been on the forum for a few days-so someone may have already 
replied to your E-mail.  In any event here's my response after seeing today's 
IBD:  

     IBD makes the exact same point you do-the only difference is that its 
focus is on the NASDAQ Composite.   Today (Friday, 3/14/03) IBD says, "The 
tech-heavy index [NASDAQ]... has showed quiet accumulation.  Note how up days 
in higher volume outnumber down days in higher volume.  Trading usually 
wasn't above average, but institutions were building positions.  This 
...support is apparent from NASDAQ's Accumulation/Distribution Rating.  It 
climbed to an A+ Thursday after sitting on an A since the beginning of March."

     To answer your questions:  I didn't notice this pattern (although I 
kinda expected a boost to the index, both because of the OverSold nature of 
the NASDAQ and because its RS Line has been in Strong Divergence since this 
new downtrend began in 12/02).  As far as predictions:  I'd want to see 1) 
whether or not there is a follow-through-and when, and 2) how the index 
reacts to the downtrending 200 moving average.

jans



In a message dated 3/11/2003 3:11:38 PM Eastern Standard Time, ianstm@shaw.ca 
writes:

<< 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 >>

- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim".  Do not use quotes in your email.

Go to Jeff Salisbury LWGate Home Page.