Go to Jeff Salisbury LWGate Home Page.From: "Charles & Lois Layne" <lelayne@earthlink.net>
Subject: [CANSLIM] Market
Date: Tue, 12 Aug 2003 22:28:41 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_0020_01C36121.154BA580 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Regardless of the tools used - technical and fundamental - the big = market picture is always appropriate. Where is the market currently? My opinion is that we're in one of those points between the bear and the = bull. I think that sentiment has been turning bullish for awhile. I = base that on nothing scientific, just personal observation and feel. = Over the past few months, we have seen some fairly bad news that the = market has managed to get over quickly. The M reaction has not been as = punishing lately. Contrast this with the M conditions of the past 2 to = 3 years. Even good news received withering M punishment much of the = time as stock after stock hit the skids. But the M is not exuberantly bullish now, either. Still a great deal of = caution and concern. Nothing much in the way of euphoria. And a lot of = real uncertainties out there with uncertain terrorist activity, = uncertain economic policies, and uncertain international conditions. I think that this significantly weighs on CANSLIM and other disciplines. = WON is clear: CANSLIM is a bull M discipline. M conditions now are = likely to result in more than average failed breakouts, or truncated = runs for those stocks which do successfully breakout. For those = concerned about sell signals, I think the current M dictates tighter = rules (stops, etc.) than in a confirmed bull M. Any thoughts? Chuck Layne - ------=_NextPart_000_0020_01C36121.154BA580 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 6.00.2600.0" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial size=3D2>Regardless of the tools used - = technical and=20 fundamental - the big market picture is always appropriate. Where = is the=20 market currently?</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>My opinion is that we're in one of = those points=20 between the bear and the bull. I think that sentiment has been = turning=20 bullish for awhile. I base that on nothing scientific, just = personal=20 observation and feel. Over the past few months, we have seen some = fairly=20 bad news that the market has managed to get over quickly. The M = reaction=20 has not been as punishing lately. Contrast this with the M=20 conditions of the past 2 to 3 years. Even good news received=20 withering M punishment much of the time as stock after stock hit the=20 skids.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>But the M is not exuberantly bullish = now,=20 either. Still a great deal of caution and concern. Nothing = much in=20 the way of euphoria. And a lot of real uncertainties out there = with=20 uncertain terrorist activity, uncertain economic policies, and uncertain = international conditions.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>I think that this significantly weighs = on CANSLIM=20 and other disciplines. WON is clear: CANSLIM is a bull M=20 discipline. M conditions now are likely to result in more than = average=20 failed breakouts, or truncated runs for those stocks which do = successfully=20 breakout. For those concerned about sell signals, I think the = current M=20 dictates tighter rules (stops, etc.) than in a confirmed bull = M.</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>Any thoughts?</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>Chuck Layne</FONT></DIV> <DIV> </DIV></BODY></HTML> - ------=_NextPart_000_0020_01C36121.154BA580-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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