Re: [CANSLIM] M

From: jeffwdc <jeffwdc@yahoo.com>
Subject: Re: [CANSLIM] M
Date: Fri, 13 Jun 2003 10:24:26 -0700 (PDT)

Next Article (by Date): Re: [CANSLIM] M "Pritish Shah"
Previous Article (by Date): [CANSLIM] M Ian
Top of Thread: [CANSLIM] M Ian
Next in Thread: Re: [CANSLIM] M "Pritish Shah"
Articles sorted by: [Date] [Author] [Subject]

Hi Ian,
Can you tell me what SOX is?  I'm guessing it is an
index, but not sure which one.  Thanks, jg

- --- Ian <ianstm@shaw.ca> wrote:
> Hi all:
> 
> Just an observation on M:
> 
> If you look at a 6-month chart of the SOX, you'll
> see that the SOX bottomed
> in February at 260, and over the next month,
> stubbornly refused to go below
> 280. Simultaneously, the rest of the indices were
> still dropping, putting in
> a bottom on March 12. The SOX was leading the market
> - which it did as the
> indices charged higher over the last 3 months.
>  When the SOX hit 410 last Friday, it was up almost
> 60% over its February
> 260 low!
> 
> But since last Friday, when the SOX put in what
> might be a blowoff top, the
> SOX has been exceptionally weak, dropping to the 362
> area right now (giving
> up almost exactly 1/3 of its gain), and getting very
> little of the general
> market bounce that we saw in the middle of this
> week.
> 
> In my view, this is a serious warning sign for M
> here, and warrants close
> watch, as the SOX approaches its 50-day in the low
> 350 area.
> 
> 
> Cheers,
> 
> 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.


__________________________________
Do you Yahoo!?
Yahoo! Calendar - Free online calendar with sync to Outlook(TM).
http://calendar.yahoo.com

- -
- -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.