Re: [CANSLIM] Distribution Day

From: Ian <ianstm@shaw.ca>
Subject: Re: [CANSLIM] Distribution Day
Date: Fri, 06 Jun 2003 14:57:36 -0700

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Hi Pritish:

A very ugly reversal for the NAZ, on the biggest volume day of the year - an
unequivocal WON distribution day (and second this week - maybe even third,
as yesterday the NAZ made very little headway on what was the 3rd largest
volume day of the year). Although I would say that it was a pretty mixed bag
for leaders - many were still very strong today - we definitely didn't see
an across the board collapse of all the strongest stocks.

IMHO, today was a strong 'caution' flag - particularly towards
index/story/heavily shorted stocks (I'm still of the opinion that the market
will TRY hold up true CANSLIM stocks with great fundamentals).  As evidence
of this, I would point out a pretty benign advance/decline line for today.

Finally, from personal observation only, it seems to me that bear-market
surges are historically good for 35% in the leading indices. The NAZ
bottomed at 1250 in March, and hit 1684 today - a gain of 34.72%!

Ian


- ----- Original Message -----
From: Pritish Shah <pshah@lason.com>
To: <canslim@lists.xmission.com>
Sent: Friday, June 06, 2003 10:18 AM
Subject: [CANSLIM] Distribution Day



It seems that we are heading for a second distribution day in the past week.

The volume has already crossed 2bill on Nasdaq as of 1pm. A lot of stocks
broke out and simultaneously headed lower.

Am I reading it correctly?

Regards,
Pritish


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