[CANSLIM] M

From: Ian <ianstm@shaw.ca>
Subject: [CANSLIM] M
Date: Fri, 13 Jun 2003 09:47:17 -0700

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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


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