Go to Jeff Salisbury LWGate Home Page.From: "Pritish Shah" <pshah@lason.com>
Subject: RE: [CANSLIM] Market Trend Charts
Date: Tue, 15 Jul 2003 15:36:22 -0400
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This is a MIME message. If you are reading this text, you may want to consider changing to a mail reader or gateway that understands how to properly handle MIME multipart messages. - --=_BFE199AB.7110581A Content-Type: text/plain; charset=ISO-8859-1 Content-Transfer-Encoding: quoted-printable Hi Kelly,=20 I have been studying where I am making mistakes. A lot of my failures were = bought when Nasdaq was touching the upper bollinger bands. Checkout the = following chart. You will notice that Nasdaq is currently toying with the = upper bollinger bands and has been bouncing from the 20dma. So the best = time to buy would be when Nasdaq again touches 20dma and there are a = flurry of breakouts.=20 http://finance.yahoo.com/q?s=3D^IXIC&d=3Dc&k=3Dc3&a=3Dvm,m26-12-9,ss,fs&p= =3Dm20,b&t=3D6m&l=3Don&z=3Dl&q=3Db=20 A lot of people have shown me charts that basically predict that the = market will churn for the next few years and I believe that would be the = trend. This is where CANSLIM can do much better than any other method of = investing.=20 Take a look at the following chart. You will notice that from 1937 to 1950 = (13 yrs), the market was pretty much flat. From 1965 to 1983 also the = market was flat. There was also a flat period before 1930 but that is not = shown on the graph.=20 http://finance.yahoo.com/q?s=3D^DJI&d=3Dc&k=3Dc3&p=3D&t=3Dmy&l=3Don&z=3Dl&q= =3Dl=20 Basically after every major rise, the market pauses for several years and = then tries again. This has happened 3 times on DJI. Nasdaq is currently = behaving exactly like DJI from 1930 to 1933. If it continues to behave = like DJI, for next year and half, we are not going to go anywhere and then = there will be a major move upwards. =20 I am open for discussions but not flames please. =20 Thanks, Pritish >>> kelly.short@fw.us.neoris.com 07/15/03 02:40PM >>>=20 Gene,=20 What was in your patriotic Wheeties this morning?! Thanks for the = explanation though. Have you thought about a career in politics because = that answer was perfectly on the middle ground.=20 Okay, okay. I'll ride the trend. I'm just bitter: three of my recent BO = purchases have gotten SARS and are in quarantine. I fear I may lose them = to the "disease", or the hurricane, or whatever ailment is keeping them = from soaring.=20 That said- I did enjoy reading the information you passed along- thanks!=20= Kelly=20 - -----Original Message-----=20 From: Gene Ricci [ mailto:genr@swbell.net]=20 Sent: Tuesday, July 15, 2003 1:06 PM=20 To: canslim@lists.xmission.com=20 Subject: Re: [CANSLIM] Market Trend Charts=20 Kelly, forgive the clich=E9......... "The trend is your friend".=20 Now here's another profound statement "the trend is up until proven = otherwise".=20 Many indicators are showing overbought, but they can stay overbought for a = long long time. Take last year, they stayed oversold for a long long time. = Most likely there is a bit of consolidation going on .... but who knows = which way the break will occur. One just has to decide at what point the = trend has changed from up to down (or sideways). And at what point another = breakout to the upside has occurred. Each person must decide this on = his/her own.=20 We were told that there would not be a post war rally - is that true?=20 We were told the new dividend law would not affect stock prices - is that = true?=20 Although I don't see signs of a renewed bear.... I hear them in the = background.... moaning and groaning as they try to save face after losing = their butts.... shorting this year.=20 I feel that the market has to continue its upward trend because the public = wants it to (to say nothing about the administration). When I attend = meetings, read user group email and talk to friends I'm reminded of the = Statue of Liberty....=20 "give me your tired, your poor, your huddled masses yearning to breathe = free"=20 translated to:=20 We're tired (poor management, manipulation, lies, cooked books), we're = poor, your investors are yearning to once again believe!!!! ... kind of = corny but what the heck!=20 Gene=20 - ----- Original Message -----=20 From: Kelly Short < mailto:kelly.short@fw.us.neoris.com >=20 To: canslim@lists.xmission.com=20 Sent: Tuesday, July 15, 2003 10:53 AM=20 Subject: RE: [CANSLIM] Market Trend Charts=20 Gene,=20 Do you have any opinions to offer regarding this information? I see that = many stocks are above their 50 and 200 dma and that RS lines are trending = downward. However, most stocks seem to be trading between their upper and = lower bands and money flow doesn't seem to indicate enormous swings either = way. Do you think the market is a) absorbing a recent run-up b) peaking = before a short term decline towards a resistance point, or c) giving the = bear market pundits fuel for the flames (e.g. forecasting a major = decline)? I'd be interested to hear what you have to say. Thanks.=20 Kelly=20 - -----Original Message-----=20 From: Gene Ricci [ mailto:genr@swbell.net]=20 Sent: Monday, July 14, 2003 7:19 PM=20 To: canslim@lists.xmission.com=20 Subject: [CANSLIM] Market Trend Charts=20 May be of interest to you.=20 Gene=20 Charts have been updated through today (7/14)=20 http://www.sectorrotationfund.com/MarketTrends.htm=20 Duke Jones, CMT=20 www.longboatglobal.com=20 www.sectorrotationfund.com=20 - --=_BFE199AB.7110581A Content-Type: text/html; charset=ISO-8859-1 Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; charset=3Diso-8859-1"= > <META content=3D"MSHTML 6.00.2800.1170" name=3DGENERATOR></HEAD> <BODY style=3D"MARGIN-TOP: 2px; FONT: 8pt Tahoma; MARGIN-LEFT: 2px"> <DIV><FONT face=3DArial>Hi Kelly, <BR><BR>I have been studying where I am = making=20 mistakes. A lot of my failures were bought when Nasdaq was touching the = upper=20 bollinger bands. Checkout the following chart. You will notice that = Nasdaq=20 is currently toying with the upper bollinger bands and has been bouncing = from=20 the 20dma. So the best time to buy would be when Nasdaq again touches = 20dma and=20 there are a flurry of breakouts. <BR><BR><U><A=20 href=3D"http://http://finance.yahoo.com/q?s=3D^IXIC&d=3Dc&k=3Dc3&am= p;a=3Dvm,m26-12-9,ss,fs&p=3Dm20,b&t=3D6m&l=3Don&z=3Dl&q= =3Db">http://finance.yahoo.com/q?s=3D^IXIC&d=3Dc&k=3Dc3&a=3Dvm,= m26-12-9,ss,fs&p=3Dm20,b&t=3D6m&l=3Don&z=3Dl&q=3Db</A><= /U>=20 <BR><BR>A lot of people have shown me charts that basically predict that = the=20 market will churn for the next few years and I believe that would be the = trend.=20 This is where CANSLIM can do much better than any other method of = investing.=20 <BR><BR>Take a look at the following chart. You will notice that from 1937 = to=20 1950 (13 yrs), the market was pretty much flat. From 1965 to 1983 also = the=20 market was flat. There was also a flat period before 1930 but that is not = shown=20 on the graph. <BR><BR><U><A=20 href=3D"http://http://finance.yahoo.com/q?s=3D^DJI&d=3Dc&k=3Dc3&= ;p=3D&t=3Dmy&l=3Don&z=3Dl&q=3Dl">http://finance.yahoo.com/q= ?s=3D^DJI&d=3Dc&k=3Dc3&p=3D&t=3Dmy&l=3Don&z=3Dl&= ;q=3Dl</A></U>=20 <BR><BR>Basically after every major rise, the market pauses for several = years=20 and then tries again. This has happened 3 times on DJI. <STRONG><U>Nasdaq = is=20 currently behaving exactly like DJI from 1930 to 1933.</U></STRONG> If = it=20 continues to behave like DJI, for next year and half, we are not going to = go=20 anywhere and then there will be a major move upwards.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>I am open for discussions but not flames=20 please.</FONT></DIV> <DIV><FONT face=3DArial></FONT> </DIV> <DIV><FONT face=3DArial>Thanks,</FONT></DIV> <DIV><FONT face=3DArial>Pritish<BR></FONT></DIV> <DIV><BR>>>> kelly.short@fw.us.neoris.com 07/15/03 02:40PM = >>>=20 <BR>Gene, <BR><BR>What was in your patriotic Wheeties this morning?! = Thanks for=20 the explanation though. Have you thought about a career in politics = because that=20 answer was perfectly on the middle ground. <BR><BR>Okay, okay. I'll ride = the=20 trend. I'm just bitter: three of my recent BO purchases have gotten SARS = and are=20 in quarantine. I fear I may lose them to the "disease", or the hurricane, = or=20 whatever ailment is keeping them from soaring. <BR><BR>That said- I did = enjoy=20 reading the information you passed along- thanks! <BR><BR>Kelly=20 <BR><BR>-----Original Message----- <BR>From: Gene Ricci [<U> <A=20 href=3D"mailto:genr@swbell.net]">mailto:genr@swbell.net]</A></U> = <BR>Sent:=20 Tuesday, July 15, 2003 1:06 PM <BR>To: <U><A=20 href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A></= U>=20 <BR>Subject: Re: [CANSLIM] Market Trend Charts <BR><BR><BR>Kelly, forgive = the=20 clich=E9......... "The trend is your friend". <BR><BR>Now here's another = profound=20 statement "the trend is up until proven otherwise". <BR><BR>Many indicators= are=20 showing overbought, but they can stay overbought for a long long time. = Take last=20 year, they stayed oversold for a long long time. Most likely there is a = bit of=20 consolidation going on .... but who knows which way the break will occur. = One=20 just has to decide at what point the trend has changed from up to down = (or=20 sideways). And at what point another breakout to the upside has occurred. = Each=20 person must decide this on his/her own. <BR><BR>We were told that there = would=20 not be a post war rally - is that true? <BR>We were told the new dividend = law=20 would not affect stock prices - is that true? <BR><BR>Although I don't see = signs=20 of a renewed bear.... I hear them in the background.... moaning and = groaning as=20 they try to save face after losing their butts.... shorting this year. = <BR><BR>I=20 feel that the market has to continue its upward trend because the public = wants=20 it to (to say nothing about the administration). When I attend meetings, = read=20 user group email and talk to friends I'm reminded of the Statue of = Liberty....=20 <BR><BR>"give me your tired, your poor, your huddled masses yearning to = breathe=20 free" <BR><BR>translated to: <BR><BR>We're tired (poor management, = manipulation,=20 lies, cooked books), we're poor, your investors are yearning to once = again=20 believe!!!! ... kind of corny but what the heck! <BR><BR>Gene=20 <BR><BR><BR><BR><BR>----- Original Message ----- <BR>From: Kelly Short = <<U>=20 <A=20 href=3D"mailto:kelly.short@fw.us.neoris.com">mailto:kelly.short@fw.us.neori= s.com</A></U>=20 > <BR>To: <U><A=20 href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A></= U>=20 <BR>Sent: Tuesday, July 15, 2003 10:53 AM <BR>Subject: RE: [CANSLIM] = Market=20 Trend Charts <BR><BR><BR>Gene, <BR><BR>Do you have any opinions to = offer=20 regarding this information? I see that many stocks are above their 50 and = 200=20 dma and that RS lines are trending downward. However, most stocks seem to = be=20 trading between their upper and lower bands and money flow doesn't seem = to=20 indicate enormous swings either way. Do you think the market is a) = absorbing a=20 recent run-up b) peaking before a short term decline towards a resistance = point,=20 or c) giving the bear market pundits fuel for the flames (e.g. forecasting = a=20 major decline)? I'd be interested to hear what you have to say. Thanks.=20 <BR><BR>Kelly <BR><BR>-----Original Message----- <BR>From: Gene Ricci [<U> = <A=20 href=3D"mailto:genr@swbell.net]">mailto:genr@swbell.net]</A></U> <BR>Sent: = Monday,=20 July 14, 2003 7:19 PM <BR>To: <U><A=20 href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A></= U>=20 <BR>Subject: [CANSLIM] Market Trend Charts <BR><BR><BR>May be of interest = to=20 you. <BR><BR>Gene <BR><BR><BR><BR>Charts have been updated through today = (7/14)=20 <BR><BR><U><A=20 href=3D"http://www.sectorrotationfund.com/MarketTrends.htm">http://www.sect= orrotationfund.com/MarketTrends.htm</A></U>=20 <BR><BR>Duke Jones, CMT <BR><U><A=20 href=3D"http://www.longboatglobal.com/">www.longboatglobal.com</A></U> = <BR><U><A=20 href=3D"http://www.sectorrotationfund.com/">www.sectorrotationfund.com</A><= /U>=20 <BR><BR><BR><BR><BR></DIV></BODY></HTML> - --=_BFE199AB.7110581A-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". 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