Go to Jeff Salisbury LWGate Home Page.From: Spencer48@aol.com
Subject: Re: [CANSLIM] M
Date: Wed, 2 Apr 2003 13:28:34 EST
Previous Article (by Subject): RE: [CANSLIM] Market Timing Roger Tawa
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Ian:
I could not agree more with your implied suggestion that WON is
redefining his distribution days on the fly. He said (in IBD) that the first
two dates aren't D-days because, even though the index closed lower on higher
volume both days, the fact that it didn't close at its lows (and near its
highs) indicates institutional support.
This is a tough market, and this 3 year Bear can't have been good to IBD
finances (and subscriber rates), but it makes me nervous when ANYONE revamps
a tried and true definition because "this time it's different". That very
well could be, but WON doesn't say WHY it is different this time. (In my
opinion, I think he's right in that the markets are turning into a Bullish
mode, but I don't think we are out of the Bearish woods yet. I'd keep my
distribution definition intact: Its worked many times in the past, and
now-at this juncture-should not be the time to re-define it).
jans
In a message dated 3/31/2003 4:11:17 PM Eastern Standard Time, ianstm@shaw.ca
writes:
<< Today marks the 3rd distribution day for the NASDAQ in the last 9 trading
days:
Wed 19th
Thurs 27th
Mon 31st
>>
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