From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #1443 Reply-To: canslim Sender: owner-canslim-digest@lists.xmission.com Errors-To: owner-canslim-digest@lists.xmission.com Precedence: bulk Content-Transfer-Encoding: quoted-printable X-No-Archive: yes canslim-digest Wednesday, June 6 2001 Volume 02 : Number 1443 In this issue: [CANSLIM] FDS Re: [CANSLIM] Direction of M RE: [CANSLIM] Direction of M RE: [CANSLIM] Direction of M Re: [CANSLIM] Direction of M Re: [CANSLIM] Direction of M [CANSLIM] Besides ClearStation Re: [CANSLIM] mss-deal - news release ---------------------------------------------------------------------- Date: Wed, 06 Jun 2001 09:51:32 -0700 From: Tim Fisher Subject: [CANSLIM] FDS Retesting the pivot (if you believe the spike is the pivot, which I do), hanging around 44.90. I picked up some there. Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 6 Jun 2001 12:50:47 -0400 From: asosis@ca.ibm.com Subject: Re: [CANSLIM] Direction of M I have asked this question before and I recall Tim posting that after 4-5 days one should be out of the market. Anna "Tom Worley" @lists.xmission.com on 06/06/2001 12:41:08 PM Please respond to canslim@lists.xmission.com Sent by: owner-canslim@lists.xmission.com To: cc: Subject: Re: [CANSLIM] Direction of M Hi Ian, I am not the best expert on distribution days, but I believe I recall a member posting recently on an article from IBD, or maybe from Ask Bill O'Neil, and it indicated that he was not concerned about distribution days until there were more of them. Maybe someone still has the ref and can repost it? Tom Worley stkguru@netside.net AIM: TexWorley ----- Original Message ----- From: Ian To: canslim@lists.xmission.com Sent: Wednesday, June 06, 2001 12:22 PM Subject: Re: [CANSLIM] Direction of M Tom: My recent thinking has been along the lines you described below. However, if we close down today on increasing volume from yesterday (on the NASDAQ, volume is already a very healthy 900,000,000 and its only 9:00 am on the west coast)., then we will have had the 4th profressional distribution day in a short timeframe (May 22, 29, 30 were the other 3). How many does it take to make WON cautious? Thanks, Ian Of course, if the market reverses today and it closes up on another big volume surge - I will think that is very bullish :) ----- Original Message ----- From: Tom Worley To: canslim@lists.xmission.com Sent: Wednesday, June 06, 2001 5:51 AM Subject: Re: [CANSLIM] Direction of M Hi Steve, I didn't see the IBD article, but had already noticed the c&h formed by the DOW 30, NYSE Composite, S&P 500, and Russell 2000. All formed the handle well in the upper half of the cup, and built a 2+ week tight handle. In the case of the first three, the recent two week correction brought them right back to the handle, and it provided support, a healthy sign. In the case of the R2000, it never reached the handle. In the case of the NASDAQ 100 and NASDAQ Composite, they also formed a c&h, however the handle formed in the lower half of the cup. Both were close to the 50% level, but not quite there, with the Naz Comp closer. Their handle was not as tight, and the recent correction brought them more towards the lower side of the handle. Treatment of bad news is much more positive today than just a month ago. XLNX (a chip maker), for example, is being credited with inspiring yesterday's big rally in the Naz. What they said is that order cancellations have slowed. Stated another way, that means that as bad as it already is, it is getting worse at a slower rate. Not only did the stock add nearly 10%, it rallied the market. A month ago, it would have taken a statement that order cancellations have stopped, or that order cancellations were being completely offset by new orders, to have achieved this. I review earnings warnings daily, and I see a steady sign that warnings that a company will miss either/both earnings or revenues is more often being received as a positive and a price gain. I also note that where the shortfall is quantified, in most cases it is only slightly below current forecasts, where before most were large drops. To me this signals that the investment community believes (or wants to believe) that the worst is over, the 2nd quarter won't be very pretty, but by the 4th qtr everything will be looking pretty good. From an economics standpoint, I am generally pleased with what I see. I still expect a rate cut at the June FOMC meeting, and there is probably a 50/50 chance of another 50 BP. I still think 25 BP makes more sense, tho. We appear to be into the usual summer doldrums now. Volume is down, and likely to remain that way until after Labor Day. So events (earnings, economics, etc) could cause greater volatility. But aside from that, I see a lot less volatility in the market. I also note that the IPO market is coming to life. I am seeing as many deals, if not more, being completed as are being withdrawn. And quite a few of the ones done opened with a nice premium. Bottom line, "M" is ultimately determined by investor sentiment, and right now that sentiment is quite positive despite what the media sometimes chooses to report. Tom Worley stkguru@netside.net AIM: TexWorley ----- Original Message ----- From: SKutney@aol.com To: canslim@lists.xmission.com Sent: Tuesday, June 05, 2001 10:09 PM Subject: [CANSLIM] Direction of M I was wondering what others thought of the general directions of the market? IBD recently made a big deal about the "cup with handle" pattern of the major indexes. I don't get the feel from reading the paper that they think the market is going down. They expect the 7% stop to just get you out. I take that paper each day and draw in red trend lines to remind me of the general direction of the market. I see three major indexes plus the mutual fund index breaking past the current trend line on real low volume. I always thought that the stock market is like trying to keep a ball up in the air with a water hose. The greater the volume the more is will go up. I see stocks like CPN and SHFL which have been strong leaders breaking down. I see other stocks ready to break into new highs. Steve - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 6 Jun 2001 12:54:56 -0400 From: "Doug Shannon" Subject: RE: [CANSLIM] Direction of M This is a multi-part message in MIME format. - ------=_NextPart_000_0018_01C0EE87.E2F3AD70 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit WON does not typically count a down day on higher volume a distribution day unless the volume is at least average. He also gives them less weight to when the price action is tight as it has been lately. Doug -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley Sent: Wednesday, June 06, 2001 12:41 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Direction of M Hi Ian, I am not the best expert on distribution days, but I believe I recall a member posting recently on an article from IBD, or maybe from Ask Bill O'Neil, and it indicated that he was not concerned about distribution days until there were more of them. Maybe someone still has the ref and can repost it? Tom Worley stkguru@netside.net AIM: TexWorley ----- Original Message ----- From: Ian To: canslim@lists.xmission.com Sent: Wednesday, June 06, 2001 12:22 PM Subject: Re: [CANSLIM] Direction of M Tom: My recent thinking has been along the lines you described below. However, if we close down today on increasing volume from yesterday (on the NASDAQ, volume is already a very healthy 900,000,000 and its only 9:00 am on the west coast)., then we will have had the 4th profressional distribution day in a short timeframe (May 22, 29, 30 were the other 3). How many does it take to make WON cautious? Thanks, Ian Of course, if the market reverses today and it closes up on another big volume surge - I will think that is very bullish :) ----- Original Message ----- From: Tom Worley To: canslim@lists.xmission.com Sent: Wednesday, June 06, 2001 5:51 AM Subject: Re: [CANSLIM] Direction of M Hi Steve, I didn't see the IBD article, but had already noticed the c&h formed by the DOW 30, NYSE Composite, S&P 500, and Russell 2000. All formed the handle well in the upper half of the cup, and built a 2+ week tight handle. In the case of the first three, the recent two week correction brought them right back to the handle, and it provided support, a healthy sign. In the case of the R2000, it never reached the handle. In the case of the NASDAQ 100 and NASDAQ Composite, they also formed a c&h, however the handle formed in the lower half of the cup. Both were close to the 50% level, but not quite there, with the Naz Comp closer. Their handle was not as tight, and the recent correction brought them more towards the lower side of the handle. Treatment of bad news is much more positive today than just a month ago. XLNX (a chip maker), for example, is being credited with inspiring yesterday's big rally in the Naz. What they said is that order cancellations have slowed. Stated another way, that means that as bad as it already is, it is getting worse at a slower rate. Not only did the stock add nearly 10%, it rallied the market. A month ago, it would have taken a statement that order cancellations have stopped, or that order cancellations were being completely offset by new orders, to have achieved this. I review earnings warnings daily, and I see a steady sign that warnings that a company will miss either/both earnings or revenues is more often being received as a positive and a price gain. I also note that where the shortfall is quantified, in most cases it is only slightly below current forecasts, where before most were large drops. To me this signals that the investment community believes (or wants to believe) that the worst is over, the 2nd quarter won't be very pretty, but by the 4th qtr everything will be looking pretty good. From an economics standpoint, I am generally pleased with what I see. I still expect a rate cut at the June FOMC meeting, and there is probably a 50/50 chance of another 50 BP. I still think 25 BP makes more sense, tho. We appear to be into the usual summer doldrums now. Volume is down, and likely to remain that way until after Labor Day. So events (earnings, economics, etc) could cause greater volatility. But aside from that, I see a lot less volatility in the market. I also note that the IPO market is coming to life. I am seeing as many deals, if not more, being completed as are being withdrawn. And quite a few of the ones done opened with a nice premium. Bottom line, "M" is ultimately determined by investor sentiment, and right now that sentiment is quite positive despite what the media sometimes chooses to report. Tom Worley stkguru@netside.net AIM: TexWorley ----- Original Message ----- From: SKutney@aol.com To: canslim@lists.xmission.com Sent: Tuesday, June 05, 2001 10:09 PM Subject: [CANSLIM] Direction of M I was wondering what others thought of the general directions of the market? IBD recently made a big deal about the "cup with handle" pattern of the major indexes. I don't get the feel from reading the paper that they think the market is going down. They expect the 7% stop to just get you out. I take that paper each day and draw in red trend lines to remind me of the general direction of the market. I see three major indexes plus the mutual fund index breaking past the current trend line on real low volume. I always thought that the stock market is like trying to keep a ball up in the air with a water hose. The greater the volume the more is will go up. I see stocks like CPN and SHFL which have been strong leaders breaking down. I see other stocks ready to break into new highs. Steve - ------=_NextPart_000_0018_01C0EE87.E2F3AD70 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
WON=20 does not typically count a down day on higher volume a distribution day = unless=20 the volume is at least average.  He also gives them less weight to = when the=20 price action is tight as it has been lately.
 
Doug
-----Original Message-----
From:=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom=20 Worley
Sent: Wednesday, June 06, 2001 12:41 PM
To: = canslim@lists.xmission.com
Subject: Re: [CANSLIM] Direction = of=20 M

Hi Ian,
 
I am not the best expert on distribution days, but = I believe=20 I recall a member posting recently on an article from IBD, or maybe = from Ask=20 Bill O'Neil, and it indicated that he was not concerned about = distribution=20 days until there were more of them.
 
Maybe someone still has the ref and can repost=20 it?
 
Tom Worley
stkguru@netside.net
AIM:=20 TexWorley
----- Original Message -----
From:=20 Ian =
Sent: Wednesday, June 06, = 2001 12:22=20 PM
Subject: Re: [CANSLIM] = Direction of=20 M

Tom:
 
My recent thinking has been along the lines you = described=20 below. However, if we close down today on increasing volume from = yesterday=20 (on the NASDAQ, volume is already a very healthy 900,000,000 and its = only=20 9:00 am on the west coast)., then we will have had the 4th = profressional=20 distribution day in a short timeframe (May 22, 29, 30 were the other = 3). How=20 many does it take to make WON cautious?
 
 
Thanks,
 
Ian
 
 
Of course, if the market reverses today and it = closes up=20 on another big volume surge - I will think that is very bullish=20 :)
 
 
----- Original Message ----- =
From:=20 Tom=20 Worley
To: canslim@lists.xmission.com= =20
Sent: Wednesday, June 06, = 2001 5:51=20 AM
Subject: Re: [CANSLIM] = Direction of=20 M

Hi Steve,
 
I didn't see the IBD article, but had already = noticed=20 the c&h formed by the DOW 30, NYSE Composite, S&P 500, and = Russell=20 2000. All formed the handle well in the upper half of the cup, and = built a=20 2+ week tight handle. In the case of the first three, the recent = two week=20 correction brought them right back to the handle, and it provided = support,=20 a healthy sign. In the case of the R2000, it never reached the = handle.=20
 
In the case of the NASDAQ 100 and NASDAQ = Composite, they=20 also formed a c&h, however the handle formed in the lower half = of the=20 cup. Both were close to the 50% level, but not quite there, with = the Naz=20 Comp closer. Their handle was not as tight, and the recent = correction=20 brought them more towards the lower side of the = handle.
 
Treatment of bad news is much more positive = today than=20 just a month ago. XLNX (a chip maker), for example, is being = credited with=20 inspiring yesterday's big rally in the Naz. What they said is that = order=20 cancellations have slowed. Stated another way, that means that as = bad as=20 it already is, it is getting worse at a slower rate. Not only did = the=20 stock add nearly 10%, it rallied the market. A month ago, it would = have=20 taken a statement that order cancellations have stopped, or that = order=20 cancellations were being completely offset by new orders, to have = achieved=20 this.
 
I review earnings warnings daily, and I see a = steady=20 sign that warnings that a company will miss either/both earnings = or=20 revenues is more often being received as a positive and a price = gain. I=20 also note that where the shortfall is quantified, in most cases it = is only=20 slightly below current forecasts, where before most were large = drops. To=20 me this signals that the investment community believes (or wants = to=20 believe) that the worst is over, the 2nd quarter won't be very = pretty, but=20 by the 4th qtr everything will be looking pretty = good.
 
From an economics standpoint, I am generally = pleased=20 with what I see. I still expect a rate cut at the June FOMC = meeting, and=20 there is probably a 50/50 chance of another 50 BP. I still think = 25 BP=20 makes more sense, tho.
 
We appear to be into the usual summer doldrums = now.=20 Volume is down, and likely to remain that way until after Labor = Day. So=20 events (earnings, economics, etc) could cause greater volatility. = But=20 aside from that, I see a lot less volatility in the market. =
 
I also note that the IPO market is coming to = life. I am=20 seeing as many deals, if not more, being completed as are being = withdrawn.=20 And quite a few of the ones done opened with a nice = premium.
 
Bottom line, "M" is ultimately determined by = investor=20 sentiment, and right now that sentiment is quite positive despite = what the=20 media sometimes chooses to report.
 
Tom Worley
stkguru@netside.net
AIM:=20 TexWorley
----- Original Message ----- =
From:=20 SKutney@aol.com
To: canslim@lists.xmission.com= =20
Sent: Tuesday, June 05, = 2001 10:09=20 PM
Subject: [CANSLIM] = Direction of=20 M



 I=20 was wondering what others thought of the general directions of = the=20 market?

 IBD recently made a big deal about the = "cup with=20 handle"  pattern of the
major indexes. I don't get the = feel=20 from reading the paper that they think
the market is going = down.=20 They expect the 7% stop to just get you out.

I take that = paper=20 each day and draw in red trend lines to remind me of the =
general=20 direction of the market. I see three major indexes plus the = mutual=20
fund index breaking past the current trend line on real low = volume.=20 I always
thought that the stock market is like trying to = keep a ball=20 up in the air
with a water hose. The greater the volume the = more is=20 will go up.  

I see stocks like CPN and SHFL which = have=20 been strong leaders breaking down.
I see other stocks ready = to break=20 into new highs.

Steve=20 =
= - ------=_NextPart_000_0018_01C0EE87.E2F3AD70-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 6 Jun 2001 13:00:48 -0400 From: "Doug Shannon" Subject: RE: [CANSLIM] Direction of M One should not immediately jump out the market after 4-5 distribution days. This is only a major warning sign that tells you to immediately start watching for a break down in the leaders. If you see leading stocks starting to break down and 4-5 distribution days (preferably on at least avg. volume) within a 2-3 week period then it is time to start dumping your stocks as they initiate sell rules. Doug - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of asosis@ca.ibm.com Sent: Wednesday, June 06, 2001 12:51 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Direction of M I have asked this question before and I recall Tim posting that after 4-5 days one should be out of the market. Anna "Tom Worley" @lists.xmission.com on 06/06/2001 12:41:08 PM Please respond to canslim@lists.xmission.com Sent by: owner-canslim@lists.xmission.com To: cc: Subject: Re: [CANSLIM] Direction of M Hi Ian, I am not the best expert on distribution days, but I believe I recall a member posting recently on an article from IBD, or maybe from Ask Bill O'Neil, and it indicated that he was not concerned about distribution days until there were more of them. Maybe someone still has the ref and can repost it? Tom Worley stkguru@netside.net AIM: TexWorley ----- Original Message ----- From: Ian To: canslim@lists.xmission.com Sent: Wednesday, June 06, 2001 12:22 PM Subject: Re: [CANSLIM] Direction of M Tom: My recent thinking has been along the lines you described below. However, if we close down today on increasing volume from yesterday (on the NASDAQ, volume is already a very healthy 900,000,000 and its only 9:00 am on the west coast)., then we will have had the 4th profressional distribution day in a short timeframe (May 22, 29, 30 were the other 3). How many does it take to make WON cautious? Thanks, Ian Of course, if the market reverses today and it closes up on another big volume surge - I will think that is very bullish :) ----- Original Message ----- From: Tom Worley To: canslim@lists.xmission.com Sent: Wednesday, June 06, 2001 5:51 AM Subject: Re: [CANSLIM] Direction of M Hi Steve, I didn't see the IBD article, but had already noticed the c&h formed by the DOW 30, NYSE Composite, S&P 500, and Russell 2000. All formed the handle well in the upper half of the cup, and built a 2+ week tight handle. In the case of the first three, the recent two week correction brought them right back to the handle, and it provided support, a healthy sign. In the case of the R2000, it never reached the handle. In the case of the NASDAQ 100 and NASDAQ Composite, they also formed a c&h, however the handle formed in the lower half of the cup. Both were close to the 50% level, but not quite there, with the Naz Comp closer. Their handle was not as tight, and the recent correction brought them more towards the lower side of the handle. Treatment of bad news is much more positive today than just a month ago. XLNX (a chip maker), for example, is being credited with inspiring yesterday's big rally in the Naz. What they said is that order cancellations have slowed. Stated another way, that means that as bad as it already is, it is getting worse at a slower rate. Not only did the stock add nearly 10%, it rallied the market. A month ago, it would have taken a statement that order cancellations have stopped, or that order cancellations were being completely offset by new orders, to have achieved this. I review earnings warnings daily, and I see a steady sign that warnings that a company will miss either/both earnings or revenues is more often being received as a positive and a price gain. I also note that where the shortfall is quantified, in most cases it is only slightly below current forecasts, where before most were large drops. To me this signals that the investment community believes (or wants to believe) that the worst is over, the 2nd quarter won't be very pretty, but by the 4th qtr everything will be looking pretty good. From an economics standpoint, I am generally pleased with what I see. I still expect a rate cut at the June FOMC meeting, and there is probably a 50/50 chance of another 50 BP. I still think 25 BP makes more sense, tho. We appear to be into the usual summer doldrums now. Volume is down, and likely to remain that way until after Labor Day. So events (earnings, economics, etc) could cause greater volatility. But aside from that, I see a lot less volatility in the market. I also note that the IPO market is coming to life. I am seeing as many deals, if not more, being completed as are being withdrawn. And quite a few of the ones done opened with a nice premium. Bottom line, "M" is ultimately determined by investor sentiment, and right now that sentiment is quite positive despite what the media sometimes chooses to report. Tom Worley stkguru@netside.net AIM: TexWorley ----- Original Message ----- From: SKutney@aol.com To: canslim@lists.xmission.com Sent: Tuesday, June 05, 2001 10:09 PM Subject: [CANSLIM] Direction of M I was wondering what others thought of the general directions of the market? IBD recently made a big deal about the "cup with handle" pattern of the major indexes. I don't get the feel from reading the paper that they think the market is going down. They expect the 7% stop to just get you out. I take that paper each day and draw in red trend lines to remind me of the general direction of the market. I see three major indexes plus the mutual fund index breaking past the current trend line on real low volume. I always thought that the stock market is like trying to keep a ball up in the air with a water hose. The greater the volume the more is will go up. I see stocks like CPN and SHFL which have been strong leaders breaking down. I see other stocks ready to break into new highs. Steve - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 6 Jun 2001 10:09:37 -0700 (PDT) From: SRP Singh Subject: Re: [CANSLIM] Direction of M Hi Ian, How do you decide a distribution day ? Is it the index is down on a volume greater than the previous day's volume ? Thanks, SRP - --- Ian wrote: > Tom: > > My recent thinking has been along the lines you > described below. However, if we close down today on > increasing volume from yesterday (on the NASDAQ, > volume is already a very healthy 900,000,000 and its > only 9:00 am on the west coast)., then we will have > had the 4th profressional distribution day in a > short timeframe (May 22, 29, 30 were the other 3). > How many does it take to make WON cautious? > > > Thanks, > > Ian > __________________________________________________ Do You Yahoo!? Get personalized email addresses from Yahoo! Mail - only $35 a year! http://personal.mail.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. ------------------------------ Date: Wed, 06 Jun 2001 10:15:34 -0700 From: Tim Fisher Subject: Re: [CANSLIM] Direction of M No, I did not say that. What I said was that after 4-5 days of steady distribution in YOUR STOCKS, your stops should have taken you out. Not the same thing at all... On 09:50 AM 6/6/01, asosis@ca.ibm.com Said: >I have asked this question before and I recall Tim posting that after 4-5 >days one should be out of the market. > > >Anna > > > >"Tom Worley" @lists.xmission.com on 06/06/2001 >12:41:08 PM > >Please respond to canslim@lists.xmission.com > >Sent by: owner-canslim@lists.xmission.com > > >To: >cc: >Subject: Re: [CANSLIM] Direction of M > > >Hi Ian, > >I am not the best expert on distribution days, but I believe I recall a >member posting recently on an article from IBD, or maybe from Ask Bill >O'Neil, and it indicated that he was not concerned about distribution days >until there were more of them. > >Maybe someone still has the ref and can repost it? > >Tom Worley >stkguru@netside.net >AIM: TexWorley > ----- Original Message ----- > From: Ian > To: canslim@lists.xmission.com > Sent: Wednesday, June 06, 2001 12:22 PM > Subject: Re: [CANSLIM] Direction of M > > Tom: > > My recent thinking has been along the lines you described below. However, > if we close down today on increasing volume from yesterday (on the NASDAQ, > volume is already a very healthy 900,000,000 and its only 9:00 am on the > west coast)., then we will have had the 4th profressional distribution day > in a short timeframe (May 22, 29, 30 were the other 3). How many does it > take to make WON cautious? > > > Thanks, > > Ian > > > Of course, if the market reverses today and it closes up on another big > volume surge - I will think that is very bullish :) > > > ----- Original Message ----- > From: Tom Worley > To: canslim@lists.xmission.com > Sent: Wednesday, June 06, 2001 5:51 AM > Subject: Re: [CANSLIM] Direction of M > > Hi Steve, > > I didn't see the IBD article, but had already noticed the c&h formed by > the DOW 30, NYSE Composite, S&P 500, and Russell 2000. All formed the > handle well in the upper half of the cup, and built a 2+ week tight > handle. In the case of the first three, the recent two week correction > brought them right back to the handle, and it provided support, a healthy > sign. In the case of the R2000, it never reached the handle. > > In the case of the NASDAQ 100 and NASDAQ Composite, they also formed a > c&h, however the handle formed in the lower half of the cup. Both were > close to the 50% level, but not quite there, with the Naz Comp closer. > Their handle was not as tight, and the recent correction brought them more > towards the lower side of the handle. > > Treatment of bad news is much more positive today than just a month ago. > XLNX (a chip maker), for example, is being credited with inspiring > yesterday's big rally in the Naz. What they said is that order > cancellations have slowed. Stated another way, that means that as bad as > it already is, it is getting worse at a slower rate. Not only did the > stock add nearly 10%, it rallied the market. A month ago, it would have > taken a statement that order cancellations have stopped, or that order > cancellations were being completely offset by new orders, to have achieved > this. > > I review earnings warnings daily, and I see a steady sign that warnings > that a company will miss either/both earnings or revenues is more often > being received as a positive and a price gain. I also note that where the > shortfall is quantified, in most cases it is only slightly below current > forecasts, where before most were large drops. To me this signals that the > investment community believes (or wants to believe) that the worst is > over, the 2nd quarter won't be very pretty, but by the 4th qtr everything > will be looking pretty good. > > From an economics standpoint, I am generally pleased with what I see. I > still expect a rate cut at the June FOMC meeting, and there is probably a > 50/50 chance of another 50 BP. I still think 25 BP makes more sense, tho. > > We appear to be into the usual summer doldrums now. Volume is down, and > likely to remain that way until after Labor Day. So events (earnings, > economics, etc) could cause greater volatility. But aside from that, I see > a lot less volatility in the market. > > I also note that the IPO market is coming to life. I am seeing as many > deals, if not more, being completed as are being withdrawn. And quite a > few of the ones done opened with a nice premium. > > Bottom line, "M" is ultimately determined by investor sentiment, and right > now that sentiment is quite positive despite what the media sometimes > chooses to report. > > Tom Worley > stkguru@netside.net > AIM: TexWorley > ----- Original Message ----- > From: SKutney@aol.com > To: canslim@lists.xmission.com > Sent: Tuesday, June 05, 2001 10:09 PM > Subject: [CANSLIM] Direction of M > > > > I was wondering what others thought of the general directions of the > market? > > IBD recently made a big deal about the "cup with handle" pattern of the > > major indexes. I don't get the feel from reading the paper that they > think > the market is going down. They expect the 7% stop to just get you out. > > I take that paper each day and draw in red trend lines to remind me of > the > general direction of the market. I see three major indexes plus the > mutual > fund index breaking past the current trend line on real low volume. I > always > thought that the stock market is like trying to keep a ball up in the air > > with a water hose. The greater the volume the more is will go up. > > I see stocks like CPN and SHFL which have been strong leaders breaking > down. > I see other stocks ready to break into new highs. > > Steve > > > >- >-To subscribe/unsubscribe, email "majordomo@xmission.com" >-In the email body, write "subscribe canslim" or >-"unsubscribe canslim". Do not use quotes in your email. Tim Fisher Ore-Rock-On and Pacific Fishery Biologists WWW Sites Tim@OreRockOn.com WWW: http://OreRockOn.com See naked fish and rocks! - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 6 Jun 2001 13:15:13 -0400 From: "Dan Forant" Subject: [CANSLIM] Besides ClearStation This is a multi-part message in MIME format. - ------=_NextPart_000_00F1_01C0EE8A.B8A6A380 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Are there other sites besides ClearStation for viewing multiple stock = charts? DanF - ------=_NextPart_000_00F1_01C0EE8A.B8A6A380 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Are there other sites besides ClearStation for = viewing=20 multiple stock charts?
 
DanF
- ------=_NextPart_000_00F1_01C0EE8A.B8A6A380-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ Date: Wed, 6 Jun 2001 13:18:34 EDT From: Spencer48@aol.com Subject: Re: [CANSLIM] mss-deal - news release Norman: What site address did you use to pick up the news on MSS. I couldn't find anything on 6/5 or 6/6 regarding the drop or the downgrade. Moreover, the depth of your site's reporting on MSS' plunge is impressive. jans In a message dated 6/5/2001 9:52:44 PM Eastern Daylight Time, Norman writes: << From: Norman To: canslim@lists.xmission.com Sent: Tuesday, June 05, 2001 8:36 PM Subject: Re: [CANSLIM] mss-deal - news release From a Dow Jones Newswires news release: NEW YORK (Dow Jones)--Measurement Specialties Inc.'s (MSS, news, msgs) fourth quarter earnings, reported late Monday, beat Wall Street's consensus estimate - yet Tuesday, the company's stock fell 20%. What spooked investors? The company, which makes electronic sensors and consumer products, reported unusually high customer-funded research and development costs for the fourth quarter, along with inventory levels more than three times higher than year-ago figures. Sidoti & Co. analyst John Franzreb blamed those items for the sell-off, which was punctuated by five block trades of up to 50,000 shares each. Measurement Specialties' Chief Executive Joseph Mallon said he's not concerned about his company's inventory levels, which stood at $31.9 million as of March 31 compared with $9.1 million the same time last year. "We've done a series of acquisitions, and in doing so, we moved the (company's) operations to China," Mallon told Dow Jones Newswires. "We built inventory ahead of doing that." The spike in inventories, however, alarmed Sidoti's Franzreb, who said it may reflect weakness in Measurement Specialties' Park-Zone product line. Those products help people park cars in garages by sensing how far the car is from the garage wall. Franzreb did attribute some of the inventory to the transfer of operations from the U.S. to China and the company's acquisitions. Mallon argued that the inventory build-up doesn't reflect poor sales in certain product lines, and believes that "generally business is quite good across the board." norm >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ------------------------------ End of canslim-digest V2 #1443 ****************************** To unsubscribe to canslim-digest, send an email to "majordomo@xmission.com" with "unsubscribe canslim-digest" in the body of the message. For information on digests or retrieving files and old messages send "help" to the same address. Do not use quotes in your message.