From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2370 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 Monday, April 29 2002 Volume 02 : Number 2370 In this issue: Re: [CANSLIM] Earnings Re: [CANSLIM] Earnings Re: [CANSLIM] Earnings Re: [CANSLIM] Earnings [CANSLIM] M where now? Re: [CANSLIM] M where now? RE: [CANSLIM] M where now? ---------------------------------------------------------------------- Date: Mon, 29 Apr 2002 16:11:34 -0700 (PDT) From: Dimitri Katsaros Subject: Re: [CANSLIM] Earnings so does encarta.msn.com (an online dictionary and encyclopedia) 'Til later D - --- DanC wrote: > Context helps > > Fred Richards wrote: > > > Sorry, I don't know what an expectoration is? > > > > Smiling. > > > > FFR ===== Quiquid latine dictum sit altum viditur __________________________________________________ Do You Yahoo!? Yahoo! Health - your guide to health and wellness http://health.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: Mon, 29 Apr 2002 21:59:46 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Earnings I am no expert on the calculation of GDP. As I understand it, it's essentially like a double negative. The past declines in inventory was keeping GDP low as it was subtracted. Because the decline in inventories was so much slower by comparison, the subtraction was lessened. Here's an excerpt snipped from CNN Money: "Bush pointed out that the biggest boost to GDP came from business inventories, which shrank at a much slower rate of $36.2 billion in the first quarter, down from $119.3 billion in the fourth quarter. The way the Commerce Department measures the change in inventories means that the $83.1 billion difference between the first and fourth quarters actually added to growth in the first quarter, since inventories shrank at a much slower rate, boosting GDP by 3.1 percentage points. "The single most significant number is the inventory number," said Kelly of Putnam Investments. "The rebuilding of inventories hasn't even started yet. When they do, it will be a major source of additional stimulus to the economy." Excluding the change in inventories, real sales of domestic product rose about 2.6 percent after rising 3.8 percent in the fourth quarter. Business spending also showed signs of stabilizing, falling by only $18.2 billion after shrinking $47 billion in the fourth quarter. " Tom Worley stkguru@bellsouth.net AIM: TexWorley - ----- Original Message ----- From: "Winston Little" To: Sent: Monday, April 29, 2002 2:15 PM Subject: Re: [CANSLIM] Earnings My understanding of the 5.8% GDP is: 3.1% was due to removing inventory. In other words, inventory on the shelf (goods produced some time ago) was 2.6%. While 2.6% was for REAL FINAL SALES (or newly produced goods). Until all the old inventory is gone the current activity is closer to this 2.6% for adjusted GDP. - ----- Original Message ----- From: To: Sent: Monday, April 29, 2002 2:01 PM Subject: Re: [CANSLIM] Earnings > Tom: > > Perhaps you can (and will) explain this: I understand that IBD > concludes that a big part of the reason GDP was up so much in the 1st quarter > is less that the economy is getting as strong as the 5.8% would indicate, but > that inventory reductions were lower. > > Does this mean that companies are replenishing inventories to what they > were duing the recession: because the strong consumer sales reveal that > there will be as much (but not more) consumer demand as in the recession? > > IBD seems to be saying that Companies will not replenish inventory > because they feel that consumer demand will not be as strong as the recent > GDP indicates. Is that the correct conclusion as to why a 5.8% increase in > GDP is not as good as it sounds? > > jans > > > > In a message dated 4/29/2002 10:08:59 AM Eastern Daylight Time, > stkguru@bellsouth.net writes: > > << GDP for the Q1 was up for a variety of reasons, one of which was that > consumer sales remained strong, but a second, and more significant one, was > that inventory reductions slowed appreciably. >> > > - > -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. - - - -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: Mon, 29 Apr 2002 22:06:23 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] Earnings yes, economic stimulus did appear to be finally kicking in. Also the low mortgage rates that allowed many to refinance, and have more disposable income to spend. Tom Worley stkguru@bellsouth.net AIM: TexWorley - ----- Original Message ----- From: "walter nusbaum" To: Sent: Monday, April 29, 2002 4:29 PM Subject: Re: [CANSLIM] Earnings Tom, Another big reason for the Q1 GDP number was the humongous tax rebate that was probably largely responsible for the strength of consumer sales. Best wishes, Walt - ----- Original Message ----- From: "Tom Worley" To: Sent: Monday, April 29, 2002 8:43 AM Subject: Re: [CANSLIM] Earnings > GDP for the Q1 was up for a variety of reasons, one of which was that > consumer sales remained strong, but a second, and more significant one, was > that inventory reductions slowed appreciably. > > Tom Worley > stkguru@bellsouth.net > AIM: TexWorley > ----- Original Message ----- > From: "Fred Richards" > To: > Sent: Monday, April 29, 2002 9:30 AM > Subject: RE: [CANSLIM] Earnings > > > Tom, > > I know that you want this to get better . . . but sometimes we have to face > facts. > > >From the King report of 4/29/2002. > > GDP came in higher than expected because the deflator, which was expected to > be 1.5%, came in at only 0.8%. Fooling with the deflator (and CPI) to > overstate GDP and understate inflation is a government staple. The market > ignored the ridiculous government misrepresentation. > > > FFR > (SNIP) - - - -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: Mon, 29 Apr 2002 22:17:09 -0400 From: "Ann" Subject: Re: [CANSLIM] Earnings I thought "expectorations" were expectations that make you want to spit! :-) - ----- Original Message ----- From: "Tom Worley" To: Sent: Monday, April 29, 2002 9:40 AM Subject: Re: [CANSLIM] Earnings : thank my spell checker for that, and my haste in accepting a change. Please : amend it to "expectations", altho the first version may not be all that : wrong. : : Tom Worley : stkguru@bellsouth.net : AIM: TexWorley : ----- Original Message ----- : From: "Fred Richards" : To: : Sent: Monday, April 29, 2002 9:22 AM : Subject: RE: [CANSLIM] Earnings : : : Sorry, I don't know what an expectoration is? : : Smiling. : : FFR : : -----Original Message----- : From: owner-canslim@lists.xmission.com : [mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley : Sent: Monday, April 29, 2002 7:57 AM : To: canslim@lists.xmission.com : Subject: Re: [CANSLIM] Earnings : : : I disagree, Fred, everyone expects lousy year over year comparisons. The : market is driven by expectorations, not past history, and right now the : market wants to know that things will get better in the future. : : Tom Worley : stkguru@bellsouth.net : AIM: TexWorley : ----- Original Message ----- : From: "Fred Richards" : To: : Sent: Monday, April 29, 2002 8:44 AM : Subject: RE: [CANSLIM] Earnings : : : One of the reasons so many S&P 500 companies have beaten their earning : estimates is that they reduced them significantly in recent months. The : real criteria is how are they performing versus the previous quarter last : year. : : Fred : : -----Original Message----- : From: owner-canslim@lists.xmission.com : [mailto:owner-canslim@lists.xmission.com]On Behalf Of Ian : Sent: Monday, April 29, 2002 12:04 AM : To: canslim@lists.xmission.com : Subject: [CANSLIM] Earnings : : : Hi all: : : I thought I would weigh in with one observation that arises from my personal : methodology: I start all of my daily mining by going through all the 'Ups' : earnings reports in IBD. I list the companies with strong revenue and EPS : growth in a little notebook of mine - filtering out most cyclicals, extreme : high historical valuations, and unusually low RS. For the last few quarters, : I have seen fairly slim picking. But in the last 2 weeks, the number of : entries in my book has swelled in comparison to both Q4 2001 and Q1 2001. : : I also note that a full 80%+ of S&P 500 companies have beaten earnings : estimates this Q. : : I have no idea what this will mean for either the mega-cap indexes , or the : micro/smallcaps that tend to inhabit my universe - but it tells me that : earnings, if not 'M', are unequivocally on the upswing. : : As an off-topic aside, several years ago I read an interview with a : successful investor who has been in the US equity markets for decades. He : made the comment that he now times economic cycles based on the earnings of : EK - when Kodak's earnings start to tick up, then the economy is on the : upswing. I don't know if it is still relevant in the age of digital : photography, but I did find myself making a mental note last week when EK : came out with their pronouncement that Q1 2002 was their EPS bottom. : : : Finally, my universe of stocks finally took a hit Wed-Fri last week, (not : enough to lose all of the big gains of Mon-Tues, but it was the first sign : of panic selling since early February). I did end up lightening up a lot of : positions and raising cash - as it appears that even some of the strong : smallcaps are starting to be sucked into the selling. : : : Ian : : : : : - : -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. : : : : : - : -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. : : : : : - : -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: Mon, 29 Apr 2002 22:16:11 -0500 From: "Hill, Ernie" Subject: [CANSLIM] M where now? This message is in MIME format. Since your mail reader does not understand this format, some or all of this message may not be legible. - ------_=_NextPart_001_01C1EFF5.60A16360 Content-Type: text/plain Hi Group, When I made my first market forecast to the group back in March part of the reason I chose to make a forecast then was because I had a very reliable forecast to make. Because of the high probability that I saw occurring in the market I chose to make a very precise forecast for maximum effect. At that time I said the market would bottom in the 1070 to 1075 range on the S&P on 4-17-02. I had a high degree of confidence that the market would turn within two days of that date and very close to my projected price range. First the market gave me a head fake with a false turn confirmation, now it has blown up my forecast with today's price action. First the S&P has set a new low for the move, which will now put the eventual turning point outside the maximum range predicted by my model. In addition to that it has surpassed the lowest price level that I had projected for the move. So what does it all mean? For some of you it proves that I am an idiot that got his just due for being arrogant enough to think that he could predict the market. I can accept that criticism; however, from my point of view my missed forecast gives hints to the longer term picture for the rest of the year. For those of you who are still reading here is what I see as the most likely scenario going forward and the implications of the market dropping through and past my projected turning point. First of all the S&P will likely drop to an even lower support level before the turn is eventually made. This support level will continue to drop slightly with each passing day. For tomorrow that level will be 1035.5, if the S&P drops to that level by tomorrow then the market will likely turn from there. Going back to the market low on 9-21-01 the S&P put in a low of 944.75 it then rose to a high of 1176.97 on 1-7-02. 61.8% of that move would be 143.51 points. 61.8% is a key Fibonacci ratio where corrections often find support. Subtracting 143.51 points from the market high of 1176.97 yields a price level of 1033.46. On May 2, 2002 my projected support level for the S&P is 1033.5. Will 5-2-02 be the day this market actually changes trend at least briefly? We'll see. The longer term implications are that the ensuing rally will likely be briefer than previously expected and certainly have a lower price target, maybe even below 1176.97 the current high for the year. If the rally that follows this current decline fails to exceed the current high for the year then we may be looking at a retest of the September lows later in the year. E ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - ------_=_NextPart_001_01C1EFF5.60A16360 Content-Type: text/html Content-Transfer-Encoding: quoted-printable

Hi Group,

 

When I made my first market forecast to the group back in March par= t of the reason I chose to make a forecast then was because I had a very reliable forecast to make. Because of the high probability that I saw occurring in t= he market I chose to make a very precise forecast for maximum effect. At that = time I said the market would bottom in the 1070 to 1075 range on the S&P on = 4-17-02. I had a high degre= e of confidence that the market would turn within two days of that date and very close to my projected price range.

 

First the market gave me a head fake with a false turn confirmation, now it has blown up my forecast with today's price action. First the S&P has set a new low for the move, which will now put the eventual tur= ning point outside the maximum range predicted by my model. In addition to that = it has surpassed the lowest price level that I had projected for the move.

 

So what does it all mean? For some of you it proves that I am an id= iot that got his just due for being arrogant enough to think that he could pred= ict the market. I can accept that criticism; however, from my point of view my missed forecast gives hints to the longer term picture for the rest of the year. For those of you who are still reading here is what I see as the most likely scenario going forward and the implications of the market dropping through and past my projected turning point.

 

First of all the S&P will likely drop to an even lower support level before the turn is eventually made. This support level will continue = to drop slightly with each passing day. For tomorrow that level will be 1035.5= , if the S&P drops to that level by tomorrow then the market will likely turn from there. Going back to the market low on 9-21-01 the S&P put in a low of 944= .75 it then rose to a high of 1176.97 on 1-7-02. 61.8% of that move would be 143.51 points. 61.8% is a key Fibonacci ratio w= here corrections often find support. Subtracting 143.51 points from the market h= igh of 1176.97 yields a price level of 1033.46. On May 2, 2002 my projected support level for the S&a= mp;P is 1033.5. Will 5-2-02 be the day this market actually changes trend at least briefly? We'll see.

 

The longer term implications are that the ensuing rally will likely= be briefer than previously expected and certainly have a lower price target, m= aybe even below 1176.97 the current high for the year. If the rally that follows this current decline fails to exceed the current high for the year then we = may be looking at a retest of the September lows later in the year.<= /span>

 

E

 



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 - ------_=_NextPart_001_01C1EFF5.60A16360-- - - - -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: Mon, 29 Apr 2002 23:29:58 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] M where now? This is a multi-part message in MIME format. - ------=_NextPart_000_031F_01C1EFD5.C6E6EDE0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Ernie, I do not think you are either an idiot, or arrogant, just have a = system that you understand, and has been working for you. One of the = dangers in attempting to predict the market place is that it is not = always predictable. The longer term you forecast, I think the better = chance you have for being right more often than wrong. But you are going = to be wrong some of the time, no matter what. I remember my enthusiasm when I finally started using some TA (Technical = Analysis), and started getting familiar with MACD (Moving Average = Convergence Divergence). I found, for me, it really improved my timing = of buy and sell points, as well as aiding my decisions on whether to = hold on or not. But took more time than I then or now had, so = unfortunately don't use it often enough to be consistent.=20 I think there are tools we can use to help us, including some that try = to predict the future. But I personally think we should only use them to = aid our understanding of "M", and let the market tell us what it = actually is doing now, rather than betting on what it will do then. Tom Worley stkguru@bellsouth.net AIM: TexWorley - ----- Original Message -----=20 From: Hill, Ernie=20 To: 'canslim@lists.xmission.com'=20 Sent: Monday, April 29, 2002 11:16 PM Subject: [CANSLIM] M where now? Hi Group, =20 When I made my first market forecast to the group back in March part of = the reason I chose to make a forecast then was because I had a very = reliable forecast to make. Because of the high probability that I saw = occurring in the market I chose to make a very precise forecast for = maximum effect. At that time I said the market would bottom in the 1070 = to 1075 range on the S&P on 4-17-02. I had a high degree of confidence = that the market would turn within two days of that date and very close = to my projected price range. =20 First the market gave me a head fake with a false turn confirmation, now = it has blown up my forecast with today's price action. First the S&P has = set a new low for the move, which will now put the eventual turning = point outside the maximum range predicted by my model. In addition to = that it has surpassed the lowest price level that I had projected for = the move. =20 So what does it all mean? For some of you it proves that I am an idiot = that got his just due for being arrogant enough to think that he could = predict the market. I can accept that criticism; however, from my point = of view my missed forecast gives hints to the longer term picture for = the rest of the year. For those of you who are still reading here is = what I see as the most likely scenario going forward and the = implications of the market dropping through and past my projected = turning point. =20 First of all the S&P will likely drop to an even lower support level = before the turn is eventually made. This support level will continue to = drop slightly with each passing day. For tomorrow that level will be = 1035.5, if the S&P drops to that level by tomorrow then the market will = likely turn from there. Going back to the market low on 9-21-01 the S&P = put in a low of 944.75 it then rose to a high of 1176.97 on 1-7-02. = 61.8% of that move would be 143.51 points. 61.8% is a key Fibonacci = ratio where corrections often find support. Subtracting 143.51 points = from the market high of 1176.97 yields a price level of 1033.46. On May = 2, 2002 my projected support level for the S&P is 1033.5. Will 5-2-02 be = the day this market actually changes trend at least briefly? We'll see. =20 The longer term implications are that the ensuing rally will likely be = briefer than previously expected and certainly have a lower price = target, maybe even below 1176.97 the current high for the year. If the = rally that follows this current decline fails to exceed the current high = for the year then we may be looking at a retest of the September lows = later in the year. =20 E =20 ****************************************************************** This email and any files transmitted with it from the ElPaso=20 Corporation are confidential and intended solely for the=20 use of the individual or entity to whom they are addressed.=20 If you have received this email in error please notify the=20 sender. ****************************************************************** - ------=_NextPart_000_031F_01C1EFD5.C6E6EDE0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
Ernie, I do not think you are either an idiot, = or=20 arrogant, just have a system that you understand, and has been working = for you.=20 One of the dangers in attempting to predict the market place is that it = is not=20 always predictable. The longer term you forecast, I think the better = chance you=20 have for being right more often than wrong. But you are going to be = wrong some=20 of the time, no matter what.
 
I remember my enthusiasm when I finally started = using some=20 TA (Technical Analysis), and started getting familiar with MACD (Moving = Average=20 Convergence Divergence). I found, for me, it really improved my timing = of buy=20 and sell points, as well as aiding my decisions on whether to hold on or = not.=20 But took more time than I then or now had, so unfortunately don't use it = often=20 enough to be consistent.
 
I think there are tools we can use to help us, = including=20 some that try to predict the future. But I personally think we should = only use=20 them to aid our understanding of "M", and let the market tell us what it = actually is doing now, rather than betting on what it will do = then.
 
Tom Worley
stkguru@bellsouth.net
AIM:=20 TexWorley
----- Original Message -----=20
From: Hill, Ernie=20
Sent: Monday, April 29, 2002 11:16 PM
Subject: [CANSLIM] M where now?

Hi Group,

 

When I made my first market forecast to the = group back=20 in March part of the reason I chose to make a forecast then was because = I had a=20 very reliable forecast to make. Because of the high probability that I = saw=20 occurring in the market I chose to make a very precise forecast for = maximum=20 effect. At that time I said the market would bottom in the 1070 to 1075 = range on=20 the S&P on 4-17-02. I had a high degree of confidence that = the market=20 would turn within two days of that date and very close to my projected = price=20 range.

 

First the market gave me a head fake with a = false turn=20 confirmation, now it has blown up my forecast with today's price action. = First=20 the S&P has set a new low for the move, which will now put the = eventual=20 turning point outside the maximum range predicted by my model. In = addition to=20 that it has surpassed the lowest price level that I had projected for = the=20 move.

 

So what does it all mean? For some of you it = proves that=20 I am an idiot that got his just due for being arrogant enough to think = that he=20 could predict the market. I can accept that criticism; however, from my = point of=20 view my missed forecast gives hints to the longer term picture for the = rest of=20 the year. For those of you who are still reading here is what I see as = the most=20 likely scenario going forward and the implications of the market = dropping=20 through and past my projected turning = point.

 

First of all the S&P will likely drop to = an even=20 lower support level before the turn is eventually made. This support = level will=20 continue to drop slightly with each passing day. For tomorrow that level = will be=20 1035.5, if the S&P drops to that level by tomorrow then the market = will=20 likely turn from there. Going back to the market low on = 9-21-01 the S&P put = in a low of=20 944.75 it then rose to a high of 1176.97 on 1-7-02. 61.8% of that move would be 143.51 = points. 61.8% is=20 a key Fibonacci ratio where corrections often find support. Subtracting = 143.51=20 points from the market high of 1176.97 yields a price level of 1033.46. = On=20 May 2, 2002 my = projected=20 support level for the S&P is 1033.5. Will 5-2-02 be the day this market actually changes = trend at=20 least briefly? We'll see.

 

The longer term implications are that the = ensuing rally=20 will likely be briefer than previously expected and certainly have a = lower price=20 target, maybe even below 1176.97 the current high for the year. If the = rally=20 that follows this current decline fails to exceed the current high for = the year=20 then we may be looking at a retest of the September lows later in the=20 year.

 

E

 



********************************************************= **********
This=20 email and any files transmitted with it from the ElPaso
Corporation = are=20 confidential and intended solely for the
use of the individual or = entity to=20 whom they are addressed.
If you have received this email in error = please=20 notify the=20
sender.
**********************************************************= ********
 - ------=_NextPart_000_031F_01C1EFD5.C6E6EDE0-- - - - -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: Mon, 29 Apr 2002 22:51:12 -0500 From: "Hill, Ernie" Subject: RE: [CANSLIM] M where now? This message is in MIME format. Since your mail reader does not understand this format, some or all of this message may not be legible. - ------_=_NextPart_001_01C1EFFA.456899B0 Content-Type: text/plain I agree 100%. I mentioned in one of my earlier posts that the precise predictions were more for fun, but that I used the targets to alert me as to when to expect market turns. With the exception of the one false turn confirmation my system has kept me on the sidelines throughout this ugly downturn in the market. Fortunately I was able to turn a small profit during the time after the false confirmation and when the market proved it to be false. E - -----Original Message----- From: Tom Worley [mailto:stkguru@bellsouth.net] Sent: Monday, April 29, 2002 10:30 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] M where now? I think there are tools we can use to help us, including some that try to predict the future. But I personally think we should only use them to aid our understanding of "M", and let the market tell us what it actually is doing now, rather than betting on what it will do then. Tom Worley stkguru@bellsouth.net AIM: TexWorley ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - ------_=_NextPart_001_01C1EFFA.456899B0 Content-Type: text/html Content-Transfer-Encoding: quoted-printable

I agree 100%. I mentioned in one of my earlier posts that the precise predictions were more for fun, but that I us= ed the targets to alert me as to when to expect market turns. With the excepti= on of the one false turn confirmation my system has kept me on the sidelines t= hroughout this ugly downturn in the market. Fortunately I was able to turn a small pr= ofit during the time after the false confirmation and when the market proved it = to be false.

 

E

 

-----Original Message-----
From: Tom Worley [mailto:stk= guru@bellsouth.net]
Sent: Monday, April 29, 2002= = 10:30 PM
To: canslim@lists.xmission.c= om
Subject: Re: [CANSLIM] M whe= re now?

 

 

I think there are tools we can= use to help us, including some that try to predict the future. But I personally think we should only use them to aid our understanding of "M", and let the market tell us what it actually is doing now, rather than betting on what it will do then.

 

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley

 



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 - ------_=_NextPart_001_01C1EFFA.456899B0-- - - - -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 #2370 ****************************** 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.