From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2477 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 Friday, May 31 2002 Volume 02 : Number 2477 In this issue: RE: [CANSLIM] Haven't seen this before at investors.com Re: [CANSLIM] semi-log DGO? RE: [CANSLIM] "Intro: Brian Liu" Re: [CANSLIM] M update RE: [CANSLIM] M update ---------------------------------------------------------------------- Date: Fri, 31 May 2002 17:04:15 -0700 From: "Mona Guarino" Subject: RE: [CANSLIM] Haven't seen this before at investors.com I get it from time to time, but have never bothered to ask them exactly what causes it. I suspect it is a form of site busy signal. I usually go off, do other things and the next time I try, I get in. - --Mona > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman > Sent: Friday, May 31, 2002 1:39 PM > To: canslim@lists.xmission.com > Subject: [CANSLIM] Haven't seen this before at investors.com > > > Member Log In > Logging in is temporarily > unavailable, please check > back soon. > > - - - -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: Fri, 31 May 2002 14:11:29 -0700 (PDT) From: Canslim Dave Subject: Re: [CANSLIM] semi-log DGO? - --0-650277469-1022879489=:59327 Content-Type: text/plain; charset=us-ascii I, for one, find the absence of semi-log scales to be inexplicable and very, very annoying. In fact, I only use DGO for mining stocks and take the lists to Metastock where I view them in semi-log as candlevolume charts. DGO is annoyingly under developed when it comes to being able to set parameters you are comfortable with in reading stocks. Dave Harvey Brion wrote: I remember seeing this, Katherine. WON makes a strong argument for using log scale and to me these same arguments apply to daily charts. He seems to be rationalizing linear scale for daily charts as "fine," probably because both the online and printed product daily charts are in linear scale and it would be too costly for them to make a change. It would be interesting to see what a poll of their subscribers would say. - -Harvey Katherine Malm wrote: > Hi jans, I'm getting better at this...I vaguely remembered something > at Investors.com about the arithmetic v. log scale issue, and sure > enough, here it is: Question:To correctly identify a winning chart > pattern, should we look at a logarithmic scale or an arithmetic scale > chart? A pattern may look a lot different depending on which type of > scale you use.Answer:When using a daily chart, an arithmetic scale > chart (in which the vertical axis denoting a stock's price shows equal > spacing between each unit of price) is fine. For example, a flat base > will appear as a tight formation on either the linear or the log scale > chart. More importantly, check to see that the percentage price change > between the high and the low of the base fits the parameters of the > base it portrays. In a good flat base, the stock should never fall > more than 10-15 percent below the peak in the base. In a weekly chart, > a logarithmic chart has a couple of advantages. If a stock falls from, > say, 200 to 100, the depth of the drop will look the same as one that > falls from 40 to 20. In both cases, the stock has dropped 50 percent. > Also on a log chart, you can more clearly see when a stock is rising > fast or too fast in price. If a stock rises 50 percent or more in just > a week, it will look more dramatic on a log chart than on an > arithmetic chart. Such climax runs following previous big gains often > signal the stock's top. --Katherine > > ----- Original Message ----- > From: Spencer48@aol.com > To: canslim@lists.xmission.com > Sent: Friday, May 31, 2002 1:16 PM > Subject: Re: [CANSLIM] semi-log DGO? > Katherine: > > DGO really does it this way: using arithmetic scales > for the Day; and > semi-log for the week!? > > It's asking those of us who analyze charts using the > Canslim method of > using PP. BO's, C&H and Double Bottom formations to > logically evaluate > different items on the same scale. For instance, if the > price of a stock is > high, a flat base will look flat on a semi-log where it > wouldn't in an > arithmetic. > > Does the DGOnline method make any sense to you? Tom? > Anyone? > > jans > > > In a message dated 5/31/2002 8:57:20 AM Eastern Daylight > Time, > kmalm@earthlink.net writes: > > << Hi Dave, > The numeric interval is based on arithmetic scaling for > daily and intraday > charts, and logarithmic scaling for weekly charts. >> > > - > -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. - --------------------------------- Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup - --0-650277469-1022879489=:59327 Content-Type: text/html; charset=us-ascii

I, for one, find the absence of semi-log scales to be inexplicable and very, very annoying.  In fact, I only use DGO for mining stocks and take the lists to Metastock where I view them in semi-log as candlevolume charts.  DGO is annoyingly under developed when it comes to being able to set parameters you are comfortable with in reading stocks.

Dave

  Harvey Brion <hbrion@ieee.org> wrote:

I remember seeing this, Katherine. WON makes a strong argument for
using log scale and to me these same arguments apply to daily charts.
He seems to be rationalizing linear scale for daily charts as "fine,"
probably because both the online and printed product daily charts are in
linear scale and it would be too costly for them to make a change. It
would be interesting to see what a poll of their subscribers would say.
-Harvey

Katherine Malm wrote:

> Hi jans, I'm getting better at this...I vaguely remembered something
> at Investors.com about the arithmetic v. log scale issue, and sure
> enough, here it is: Question:To correctly identify a winning chart
> pattern, should we look at a logarithmic scale or an arithmetic scale
> chart? A pattern may look a lot different depending on which type of
> scale you use.Answer:When using a daily chart, an arithmetic scale
> chart (in which the vertical axis denoting a stock's price shows equal
> spacing between each unit of price) is fine. For example, a flat base
> will appear as a tight formation on either the linear or the log scale
> chart. More importantly, check to see that the percentage price change
> between the high and the low of the base fits the parameters of the
> base it portrays. In a good flat base, the stock should never fall
> more than 10-15 percent below the peak in the base. In a weekly chart,
> a logarithmic chart has a couple of advantages. If a stock falls from,
> say, 200 to 100, the depth of the drop will look the same as one that
> falls from 40 to 20. In both cases, the stock has dropped 50 percent.
> Also on a log chart, you can more clearly see when a stock is rising
> fast or too fast in price. If a stock rises 50 percent or more in just
> a week, it will look more dramatic on a log chart than on an
> arithmetic chart. Such climax runs following previous big gains often
> signal the stock's top. --Katherine
>
> ----- Original Message -----
> From: Spencer48@aol.com
> To: canslim@lists.xmission.com
> Sent: Friday, May 31, 2002 1:16 PM
> Subject: Re: [CANSLIM] semi-log DGO?
> Katherine:
>
> DGO really does it this way: using arithmetic scales
> for the Day; and
> semi-log for the week!?
>
> It's asking those of us who analyze charts using the
> Canslim method of
> using PP. BO's, C&H and Double Bottom formations to
> logically evaluate
> different items on the same scale. For instance, if the
> price of a stock is
> high, a flat base will look flat on a semi-log where it
> wouldn't in an
> arithmetic.
>
> Does the DGOnline method make any sense to you? Tom?
> Anyone?
>
> jans
>
>
> In a message dated 5/31/2002 8:57:20 AM Eastern Daylight
> Time,
> kmalm@earthlink.net writes:
>
> << Hi Dave,
> The numeric interval is based on arithmetic scaling for
> daily and intraday
> charts, and logarithmic scaling for weekly charts. >>
>
> -
> -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.


Do You Yahoo!?
Yahoo! - Official partner of 2002 FIFA World Cup - --0-650277469-1022879489=:59327-- - - - -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: Fri, 31 May 2002 17:24:16 -0500 From: "Hill, Ernie" Subject: RE: [CANSLIM] "Intro: Brian Liu" Welcome Brian, You have found the right place. There are several very knowledgeable and helpful persons on this list. You will not be disappointed. E - -----Original Message----- From: Brian.Liu@killik.co.uk [mailto:Brian.Liu@killik.co.uk] Sent: Friday, May 31, 2002 1:35 PM To: canslim@lists.xmission.com Subject: [CANSLIM] "Intro: Brian Liu" Dear All: 19:19pm on a Friday evening 31/May/2002. Before a four day public holiday in UK, celebrating our Queen's Jubilee ...I am still at my desk, in my office, searching through Google to found investor who are as interest and passionate about CANSLIM...that is how desperate I am.... I will briefly introduce myself, no doubt we will have more chances as we move forward... I have been working as a Stockbroker in UK for 2-3 years, and have always been interested in financial markets, which channelled me to read the Buffets, the Lunch's and Soros of this world. However, after reading William O'Neil's amazing book (my third time), I am enlightened and feel the system can be better beaten and won many more times. But, finding fellow following of CANSLIM in UK is hard and finding data to back up CANSLIM in UK is even harder, therefore, I am very excited and happy about this discovery. I will look forward to future healthy discussion and long may this prosper..... I am very happy to be allowed to join your discussion group and it will be a pleasure to share your thoughts and insights. Brian Liu ********************************************************************** Killik & Co is a member of the London Stock Exchange and is regulated by the FSA. A list of partners is available on request. Please visit our website at http://www.killik.co.uk for the free Daily View and other Internet Services such as online dealing and research. The information in this E-Mail and any attachments is CONFIDENTIAL and intended solely for the use of the individual to whom it is addressed. This document should only be read by those persons to whom it is addressed and is not intended to be relied upon by any person without subsequent written confirmation of its contents. Accordingly, Killik & Co disclaim all responsibility and accept no liability (including negligence) for the consequences of any person acting, or refraining from acting, on such information prior to the receipt by those persons of subsequent written confirmation. If you have received this E-mail in error, please notify us immediately by telephone on (+44) 0207 337 0400 - please also destroy and delete the message from your computer. Any form of reproduction, dissemination, copying, disclosure, modification, distribution and/ or publication of this E-mail message is strictly prohibited. Any views or opinions expressed are those of the individual sender and do not necessarily represent the views of Killik & Co. ********************************************************************** - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. ****************************************************************** 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. ****************************************************************** - - - -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: Fri, 31 May 2002 18:28:32 -0400 From: "Bert Pesak" Subject: Re: [CANSLIM] M update This is a multi-part message in MIME format. - ------=_NextPart_000_0039_01C208D0.F81460A0 Content-Type: text/plain; charset="Windows-1252" Content-Transfer-Encoding: quoted-printable Ernie, Thanks Bert ----- Original Message -----=20 From: Hill, Ernie=20 To: 'canslim@lists.xmission.com'=20 Sent: Friday, May 31, 2002 4:48 PM Subject: RE: [CANSLIM] M update Bert, Part of my methodology involves proprietary tools that I am not at = liberty to reveal. However, the tools that I can reveal are simple trend = lines, Elliott WaveT heory, and Fibinocci ratio analysis. The best book = I know of to learn about Elliott Wave Theory and Fibinocci numbers is = "Elliott Wave Theory" by Frost and Prechter. E -----Original Message----- From: Bert Pesak [mailto:bpesak@rcn.com] Sent: Friday, May 31, 2002 10:59 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] M update Ernie, I would like to have a better understanding of the process you are = using to make your projections. Could you recommend some reading material on the process you are = using. Thanks Bert Pesak bpesak@rcn.com ----- Original Message -----=20 From: Hill, Ernie=20 To: 'canslim@lists.xmission.com'=20 Sent: Thursday, May 30, 2002 9:22 PM Subject: [CANSLIM] M update I have included my last forecast at the end of this post for = reference purposes. =20 The S&P entered my low turn time window yesterday and hit a lower = probability target price of 1054 today also the NAZ, SPX, & the RUT all = had price reversals today or if you prefer =93pollywogs=94 (I am not a = candle stick reader so I am not sure if the volume was there to actually = produce =93pollywogs=94 or not, but today was a reversal day for all of = these indexes in my terminology none the less). =20 Despite hitting a price target and creating a reversal bar on the = same day I still believe that we have not quite yet reached the bottom = of this move. My higher probability price target range still makes for a = more complete technical package. Although, I think given the current = price structure the lower part of my target range is not likely to be = reached in fact 1035 =96 1038 is more likely to be the bottom. =20 If in fact today was the bottom of the current down swing there is = a strong possibility that M will advance for a couple of days and then = challenge today=92s low later in the low turn time window which closes = on 6-10. =20 Duke it could be getting very close to time to indulge your = =93burn=94. =20 E =20 -----Original Message----- From: Hill, Ernie=20 Sent: Tuesday, May 21, 2002 8:37 PM To: 'canslim@lists.xmission.com' Subject: RE: [CANSLIM] M =20 It appears that the high turn has been made. On 5-17 we closed at = 1106.59 and then again touched that level on an intra-day basis = yesterday. The turn has apparently come early in the window just 4.41 = points shy of the projected price level. There is a reasonable = possibility that the market will move back up near the turn high over = the next couple of days before resuming the move down. There is a small = chance that the market may even slightly exceed the high and actually = make the turn later in the window. If this happens don=92t be fooled it = is only a head fake. =20 The next low turn has two possible time windows for the turn. The = first and most likely window is within four days of 6-4. The target = price range is 1027 to 1034. 1.382 times the move from 5-7 to 5-17 = yields 79.51 points subtract this number from the high of 1106.59 and we = arrive at the low target of 1027.08. A 61.8% retracement of the move = from 9-21 to 1-9 yields a target price of 1033.46. If this projected = down move does terminate in the projected target range, it has the = potential to be the end point of the correction for the entire move from = 9-21 to 1-9. And could set the stage for a significant and sustainable = move up. =20 E =20 =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. ****************************************************************** ****************************************************************** 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_0039_01C208D0.F81460A0 Content-Type: text/html; charset="Windows-1252" Content-Transfer-Encoding: quoted-printable
Ernie,
Thanks
Bert
----- Original Message -----
From:=20 Hill,=20 Ernie
Sent: Friday, May 31, 2002 4:48 = PM
Subject: RE: [CANSLIM] M = update

Bert,
 
Part=20 of my methodology involves proprietary tools that I am not at liberty = to=20 reveal. However, the tools that I can reveal are simple trend lines, = Elliott=20 WaveT heory, and Fibinocci ratio analysis. The best book I know of to = learn=20 about Elliott Wave Theory and Fibinocci numbers is "Elliott Wave = Theory" by=20 Frost and Prechter.
 
E
-----Original Message-----
From: Bert Pesak=20 [mailto:bpesak@rcn.com]
Sent: Friday, May 31, 2002 10:59=20 AM
To: canslim@lists.xmission.com
Subject: Re: = [CANSLIM]=20 M update

Ernie,
 
I would like to have a better understanding of = the process=20 you are using to make your projections.
Could you recommend some reading material on the = process=20 you are using.
 
Thanks
Bert Pesak
bpesak@rcn.com
 
----- Original Message ----- =
From:=20 Hill,=20 Ernie
To: 'canslim@lists.xmission.com'= =20
Sent: Thursday, May 30, = 2002 9:22=20 PM
Subject: [CANSLIM] M = update

I=20 have included my last forecast at the end of this post for = reference=20 purposes.

 

The=20 S&P entered my low turn time window yesterday and hit a lower=20 probability target price of 1054 today also the NAZ, SPX, & = the RUT=20 all had price reversals today or if you prefer =93pollywogs=94 (I = am not a=20 candle stick reader so I am not sure if the volume was there to = actually=20 produce =93pollywogs=94 or not, but today was a reversal day for = all of these=20 indexes in my terminology none the=20 less).

 

Despite=20 hitting a price target and creating a reversal bar on the same day = I still=20 believe that we have not quite yet reached the bottom of this = move. My=20 higher probability price target range still makes for a more = complete=20 technical package. Although, I think given the current price = structure the=20 lower part of my target range is not likely to be reached in fact = 1035 =96=20 1038 is more likely to be the = bottom.

 

If=20 in fact today was the bottom of the current down swing there is a = strong=20 possibility that M will advance for a couple of days and then = challenge=20 today=92s low later in the low turn time window which closes on=20 6-10.

 

Duke=20 it could be getting very close to time to indulge your=20 =93burn=94.

 

E

 

-----Original=20 Message-----
From: Hill,=20 Ernie
Sent: = Tuesday, May=20 21, 2002 8:37 PM
To:=20 'canslim@lists.xmission.com'
Subject: RE: [CANSLIM]=20 M

 

It=20 appears that the high turn has been made. On 5-17 we closed at = 1106.59 and=20 then again touched that level on an intra-day basis yesterday. The = turn=20 has apparently come early in the window just 4.41 points shy of = the=20 projected price level. There is a reasonable possibility that the = market=20 will move back up near the turn high over the next couple of days = before=20 resuming the move down. There is a small chance that the market = may even=20 slightly exceed the high and actually make the turn later in the = window.=20 If this happens don=92t be fooled it is only a head=20 fake.

 

The=20 next low turn has two possible time windows for the turn. The = first and=20 most likely window is within four days of 6-4. The target price = range is=20 1027 to 1034. 1.382 times the move from 5-7 to 5-17 yields 79.51 = points=20 subtract this number from the high of 1106.59 and we arrive at the = low=20 target of 1027.08. A 61.8% retracement of the move from 9-21 to = 1-9 yields=20 a target price of 1033.46. If this projected down move does = terminate in=20 the projected target range, it has the potential to be the end = point of=20 the correction for the entire move from 9-21 to 1-9. And could set = the=20 stage for a significant and sustainable move=20 up.

 

E

 

 



********************************************************= **********
This=20 email and any files transmitted with it from the ElPaso =
Corporation=20 are confidential and intended solely for the
use of the = individual or=20 entity to whom they are addressed.
If you have received this = email in=20 error please notify the=20 =
sender.
**********************************************************= ********


********************************************************= **********
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=20 to whom they are addressed.
If you have received this email in = error=20 please notify the=20 =
sender.
**********************************************************= ********
 - ------=_NextPart_000_0039_01C208D0.F81460A0-- - - - -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: Fri, 31 May 2002 17:43:26 -0500 From: "Hill, Ernie" Subject: RE: [CANSLIM] M update 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_01C208F4.9409FC40 Content-Type: text/plain; charset="windows-1252" Content-Transfer-Encoding: quoted-printable Bert, =20 First I butcherd Fibonacci's name in my previous post, secondly here are a couple of links that should give you a better idea just what Fibonacci retracements are all about. =20 E =20 http://stocks.about.com/library/weekly/aa072400a.htm =20 =20 http://www.tradingmarkets.com/.site/stocks/education/fibonacci/ =20 - -----Original Message----- From: Bert Pesak [mailto:bpesak@rcn.com] Sent: Friday, May 31, 2002 5:29 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] M update Ernie, Thanks Bert - ----- Original Message -----=20 From: Hill, Ernie=20 To: 'canslim@lists.xmission.com' =20 Sent: Friday, May 31, 2002 4:48 PM Subject: RE: [CANSLIM] M update Bert, =20 Part of my methodology involves proprietary tools that I am not at liberty to reveal. However, the tools that I can reveal are simple trend lines, Elliott WaveT heory, and Fibinocci ratio analysis. The best book I know of to learn about Elliott Wave Theory and Fibinocci numbers is "Elliott Wave Theory" by Frost and Prechter. =20 E - -----Original Message----- From: Bert Pesak [mailto:bpesak@rcn.com] Sent: Friday, May 31, 2002 10:59 AM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] M update Ernie, =20 I would like to have a better understanding of the process you are using to make your projections. Could you recommend some reading material on the process you are using. =20 Thanks Bert Pesak bpesak@rcn.com =20 =20 - ----- Original Message -----=20 From: Hill, Ernie=20 To: 'canslim@lists.xmission.com' =20 Sent: Thursday, May 30, 2002 9:22 PM Subject: [CANSLIM] M update I have included my last forecast at the end of this post for reference purposes. =20 The S&P entered my low turn time window yesterday and hit a lower probability target price of 1054 today also the NAZ, SPX, & the RUT all had price reversals today or if you prefer =93pollywogs=94 (I am not a candle s= tick reader so I am not sure if the volume was there to actually produce =93pollywogs=94 or not, but today was a reversal day for all of these index= es in my terminology none the less). =20 Despite hitting a price target and creating a reversal bar on the same day I still believe that we have not quite yet reached the bottom of this move. My higher probability price target range still makes for a more complete technical package. Although, I think given the current price structure the lower part of my target range is not likely to be reached in fact 1035 =96 1038 is more likely to be the bottom. =20 If in fact today was the bottom of the current down swing there is a strong possibility that M will advance for a couple of days and then challenge today=92s low later in the low turn time window which closes on 6-10. =20 Duke it could be getting very close to time to indulge your =93burn=94. =20 E =20 - -----Original Message----- From: Hill, Ernie=20 Sent: Tuesday, May 21, 2002 8:37 PM To: 'canslim@lists.xmission.com' Subject: RE: [CANSLIM] M =20 It appears that the high turn has been made. On 5-17 we closed at 1106.59 and then again touched that level on an intra-day basis yesterday. The turn has apparently come early in the window just 4.41 points shy of the projected price level. There is a reasonable possibility that the market will move back up near the turn high over the next couple of days before resuming the move down. There is a small chance that the market may even slightly exceed the high and actually make the turn later in the window. If this happens don=92t be fooled it is only a head fake. =20 The next low turn has two possible time windows for the turn. The first and most likely window is within four days of 6-4. The target price range is 1027 to 1034. 1.382 times the move from 5-7 to 5-17 yields 79.51 points subtract this number from the high of 1106.59 and we arrive at the low target of 1027.08. A 61.8% retracement of the move from 9-21 to 1-9 yields a target price of 1033.46. If this projected down move does terminate in the projected target range, it has the potential to be the end point of the correction for the entire move from 9-21 to 1-9. And could set the stage for a significant and sustainable move up. =20 E =20 =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. ****************************************************************** ****************************************************************** 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. ****************************************************************** ****************************************************************** 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_001_01C208F4.9409FC40 Content-Type: text/html; charset="windows-1252" Content-Transfer-Encoding: quoted-printable
Bert,
 
First I b= utcherd=20 Fibonacci's name in my previous post, secondly here are a couple of links t= hat=20 should give you a better idea just what Fibonacci retracements are all=20 about.
 
E
 
http://stocks= .about.com/library/weekly/aa072400a.htm
 
ht= tp://www.tradingmarkets.com/.site/stocks/education/fibonacci/
-----Original Message-----
From: Bert Pesak=20 [mailto:bpesak@rcn.com]
Sent: Friday, May 31, 2002 5:29=20 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSL= IM] M=20 update

Ernie,
Thanks
Bert
----- Original Message -----
F= rom:=20 = Hill,=20 Ernie
To: 'canslim@lists.xmission.com'
Sent: Friday, May 31, 2002 4:48= P M
Subject: RE: [CANSLIM] M update<= /DIV>

Bert,
 
Part of my methodology involves proprietary = tools=20 that I am not at liberty to reveal. However, the tools that I can revea= l are=20 simple trend lines, Elliott WaveT heory, and Fibinocci ratio analysis. = The=20 best book I know of to learn about Elliott Wave Theory and Fibinocci nu= mbers=20 is "Elliott Wave Theory" by Frost and Prechter.
 
E
-----Original Message-----
From: Bert Pesak=20 [mailto:bpesak@rcn.com]
Sent: Friday, May 31, 2002 10:59=20 AM
To: canslim@lists.xmission.com
Subject: Re:=20 [CANSLIM] M update

Ernie,
 
I would like to have a better understanding of th= e=20 process you are using to make your projections.
Could you recommend some reading material on the = process=20 you are using.
 
Thanks
Bert Pesak
bpesak@rcn.com
 
----- Original Message -----
= From:=20 Hill,=20 Ernie
To: 'canslim@lists.xmission.com'=
Sent: Thursday, May 30, 2002= 9:22=20 PM
Subject: [CANSLIM] M update<= /DIV>

I=20 have included my last forecast at the end of this post for referenc= e=20 purposes.

 <= /SPAN>

The=20 S&P entered my low turn time window yesterday and hit a lower= probability target price of 1054 today also the NAZ, SPX, & the= RUT=20 all had price reversals today or if you prefer =93pollywogs=94 (I a= m not a=20 candle stick reader so I am not sure if the volume was there to act= ually=20 produce =93pollywogs=94 or not, but today was a reversal day for al= l of=20 these indexes in my terminology none the=20 less).

 <= /SPAN>

Despite=20 hitting a price target and creating a reversal bar on the same day = I=20 still believe that we have not quite yet reached the bottom of this= move. My higher probability price target range still makes for a mo= re=20 complete technical package. Although, I think given the current pri= ce=20 structure the lower part of my target range is not likely to be rea= ched=20 in fact 1035 =96 1038 is more likely to be the=20 bottom.

 <= /SPAN>

If=20 in fact today was the bottom of the current down swing there is a s= trong=20 possibility that M will advance for a couple of days and then chall= enge=20 today=92s low later in the low turn time window which closes on=20 6-10.

 <= /SPAN>

Duke=20 it could be getting very close to time to indulge your=20 =93burn=94.

 <= /SPAN>

E

 <= /SPAN>

-----O= riginal=20 Message-----
From:=20 Hill, Ernie
Sent:=20 Tuesday, May 21, 2002 8:37 PM
To:=20 'canslim@lists.xmission.com'
Subject: RE: [CANSLIM]=20 M

 

It=20 appears that the high turn has been made. On 5-17 we closed at 1106= .59=20 and then again touched that level on an intra-day basis yesterday. = The=20 turn has apparently come early in the window just 4.41 points shy o= f the=20 projected price level. There is a reasonable possibility that the m= arket=20 will move back up near the turn high over the next couple of days b= efore=20 resuming the move down. There is a small chance that the market may= even=20 slightly exceed the high and actually make the turn later in the wi= ndow.=20 If this happens don=92t be fooled it is only a head=20 fake.

 <= /SPAN>

The=20 next low turn has two possible time windows for the turn. The first= and=20 most likely window is within four days of 6-4. The target price ran= ge is=20 1027 to 1034. 1.382 times the move from 5-7 to 5-17 yields 79.51 po= ints=20 subtract this number from the high of 1106.59 and we arrive at the = low=20 target of 1027.08. A 61.8% retracement of the move from 9-21 to 1-9= yields a target price of 1033.46. If this projected down move does= terminate in the projected target range, it has the potential to be= the=20 end point of the correction for the entire move from 9-21 to 1-9. A= nd=20 could set the stage for a significant and sustainable move=20 up.

 <= /SPAN>

E

 

 



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