Re: [CANSLIM] market correction bottom?

From: "Rolf Hertenstein" <rolfh@mindspring.com>
Subject: Re: [CANSLIM] market correction bottom?
Date: Wed, 13 Aug 2003 16:45:33 -0600

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And the winner is ............I'm confused!  The first day of the attempted
rally is Day #1.  Don't ask me why I was counting the next day as Day #1.
So tomorrow is Day #7 on the DOW and SP500 and Day #4 on the NASD, hence
potentially a FTD day candidate (I'm not holding my breath but best to keep
an open mind about M's direction).  Thanks for the clarification, Katherine.
Deja vu:  I seem to recall publically making this blunder last fall - maybe
this time it'll stick!

Fred noted today's distribution day, which, in a pure WON sense, does not
reset the count.  Only falling (intraday) below the intraday low of Day #1
does. In 24-Lessons, pg.78, WON even shows Day #3 of his hypothetical
attempted rally being a mild distribution day, but then Day #5 - blast off.

 Rolf

- ----- Original Message -----
From: "Katherine Malm" <kmalm@earthlink.net>


> Hi Rolf,
>
> Take a look at the NASDAQ chart for notes on the potential FTD:
>
> http://www.breakoutwatch.com/katherine/FTD081303.JPG
>
> Katherine
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Rolf Hertenstein
> Sent: Wednesday, August 13, 2003 1:41 PM
> To: canslim@lists.xmission.com
> Subject: [CANSLIM] market correction bottom?
>
>
> Yesterdy's Big Picture (IBD) mentioned Thursday as the first day to look
for
> a FTD, which would be a positive signal for the end of our correction. OK,
> fine, but I couldn't figure out why Thursday.
>
> On my count, the DOW (intraday low 8997) and SP500 (intraday low
961)started
> up August 6 and they haven't violated those intraday lows, so this is
> already Day 5 for those indices.  The NASD started up Monday August 11
> (intraday low 1647) so Thursday would only be Day 3 (less than the
> recommended Day 4-7).
>
> I'm just curious if I'm counting correctly, and/or if I am more confused
or
> they are (ah yes, leaving myself wide open, but resist the temptation).
>
>  Rolf
>
>
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