From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2887 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 Thursday, August 29 2002 Volume 02 : Number 2887 In this issue: RE: [CANSLIM] Ernie's Forecasts Re: [CANSLIM] Ernie's Forecasts Re: [CANSLIM] Ernie's Forecasts Re: [CANSLIM] Ernie's Forecasts RE: [CANSLIM] Ernie's Forecasts Re: [CANSLIM] Ernie's Forecasts ---------------------------------------------------------------------- Date: Thu, 29 Aug 2002 12:07:40 -1000 From: "Mike Gibbons" Subject: RE: [CANSLIM] Ernie's Forecasts Thanks Dave, great reference. Aloha, Mike Gibbons Proactive Technologies, LLC http://www.proactech.com - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of David Taggart Sent: Thursday, August 29, 2002 11:58 AM To: canslim@lists.xmission.com Subject: RE: [CANSLIM] Ernie's Forecasts Norm, Fibonacci ratios are found throughout nature. http://www.brooksdesign-ps.com/Code/Html/godna2.htm also check out The Elliot Wave Theory by Frost it talks a lot about Fib ratios. That being said I dont use them much. David Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman Sent: Thursday, August 29, 2002 3:14 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Ernie's Forecasts Hi Maui Mike, OK, on topic and out of the shadows The investors.com chart shows a low of 911.06. I know that sometimes there are trades that confound the charting sites, so where can I get the same info you have? As for encoding Fib lines in DNA; that's a little far fetched even for this Trekker to consider My ecology understanding dictates that genes survive by increasing the reproductive success of the species. Now I can think "outside of the box" as good as the next scientist, but this one doesn't seem to be in the same room with the box Looks like an observation has been made, now you have postulated a theory, who's gonna test it Elliot wave theory is 'nother story and one that I don't have enuf knowledge to address at this time. There, now *that's* OT! Norm - ----- Original Message ----- From: "Mike Gibbons" To: Sent: Thursday, August 29, 2002 4:01 PM Subject: RE: [CANSLIM] Ernie's Forecasts > Norm and kelly, > > I don't want to be picky, but the S&P 500 sank to below 905 at about 10:00. > It then rose and fell again with a turn later in the day at 911. So the turn > was actually lower than Ernie predicted. > > That said, I do agree that Ernie's forecasts since I've been following them > have certainly been on the money and within what I would consider > "experimental error". > > However, I have the same kind of feeling about Elliot Wave Theory as > Einstein had about the uncertainty principal - without a rational > explanation for why it works (if it does reliably), its hard to believe in > it. > > I can understand fibonacci numbers recurring frequently in nature because > they could be somehow encoded in DNA, but I have a hard time seeing how they > could apply to the stock market. But then again, I haven't put any time into > trying to understand the causal connection and my comments are based largely > on ignorance. If any member of the group can explain a possible causal > relationship, I would find that helpful. > > Also, why is this off topic? Understanding M is fundamental to CANSLIM > because 75% of stocks go with the flow. > > Aloha, > > Mike Gibbons > Proactive Technologies, LLC > http://www.proactech.com > > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Kelly Short > Sent: Thursday, August 29, 2002 10:36 AM > To: canslim@lists.xmission.com > Subject: RE: [CANSLIM] Ernie's Forecasts > > > Norm, > > I was commenting at lunch at perfectly he called it today and yesterday. > Almost to the hour. I wonder if he tracks the success of his predictions. > > Kelly > > -----Original Message----- > From: Norman [mailto:theboyd@tisd.net] > Sent: Thursday, August 29, 2002 3:27 PM > To: canslim@lists.xmission.com > Subject: [CANSLIM] Ernie's Forecasts > > > All, > > I know it's a little (OK a lot) off topic, but is interesting. For those > of you who subscribed to Ernie's S&P 500 forecasts, did you notice he has > apparently called this one perfectly. He predicted a turn window or > 910-913. Today it turned at 911.06. For now, his crystal ball is working. > For those of you who are not subscribed I copied last nights forecast below. > > Norm > > > Once again today could be the bottom, as we came within a whisker of the > 910-913 target range, and both of my short term cycle indicators are > suggesting that a turn is imminent. While the next target level of 876-884 > is still a possibility, at this point I would have to say that it is not > very likely that we will go that low. > > > > The 910-913 range has emerged as the high probability target for the > termination of this short term down move. The most likely scenario for > tomorrow would be a move slightly lower into the target range or just below > before the market terminates the move, and begins to go higher. The second > most likely scenario is that the market will open higher and continue to > move higher from there. And the third most likely scenario would be a > continuation of the down move possibly as low as 900, with an intra-day > reversal featuring a closing price above at least 911. Each of these > scenarios involves the 910-913 target range. > > > > Despite the high probability that we are about to make a turn and not likely > to go much lower, until we see the turn confirmation signal this market > could still reach the lower target range > > > > E > > > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > > ____________________________________________________________________________ > For your protection, this e-mail message has been scanned for viruses. > Visit us at http://www.neoris.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. > > > - > -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: Thu, 29 Aug 2002 17:10:04 -0500 From: "Norman" Subject: Re: [CANSLIM] Ernie's Forecasts Interesting. Why does this not show up on the IBD chart? Norm - ----- Original Message ----- From: "Mike Gibbons" To: Sent: Thursday, August 29, 2002 5:04 PM Subject: RE: [CANSLIM] Ernie's Forecasts > Hi Norm, > > My information came from quotetracker as follows: > > > > As for my hypothesis about DNA and fibonacci numbers: DNA transmits the code by which every organsim develops. So the "shape" of a > plant for example is determined by its DNA. I recall (although its been a long time ) that fibonacci numbers are found, for example, > in the number of leaves on a fern frond. In other words, that fibonacci pattern must have been encoded in the DNA in some way. > Presumanbly, also, ferns with that DNA pattern were "fitter" for survival than ferns that didn't have fibonacci numbers encoded in > their DNA. Now we are definitely off topic, but I enjoy a little intellectual diversion sometimes. > > Aloha, > > Mike Gibbons > Proactive Technologies, LLC > http://www.proactech.com > > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman > Sent: Thursday, August 29, 2002 11:14 AM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Ernie's Forecasts > > > Hi Maui Mike, > > OK, on topic and out of the shadows The investors.com chart shows a low > of 911.06. I know that sometimes there are trades that confound the > charting sites, so where can I get the same info you have? > > As for encoding Fib lines in DNA; that's a little far fetched even for this > Trekker to consider My ecology understanding dictates that genes survive > by increasing the reproductive success of the species. Now I can think > "outside of the box" as good as the next scientist, but this one doesn't > seem to be in the same room with the box Looks like an observation has > been made, now you have postulated a theory, who's gonna test it > > Elliot wave theory is 'nother story and one that I don't have enuf knowledge > to address at this time. > > There, now *that's* OT! > > Norm > ----- Original Message ----- > From: "Mike Gibbons" > To: > Sent: Thursday, August 29, 2002 4:01 PM > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > Norm and kelly, > > > > I don't want to be picky, but the S&P 500 sank to below 905 at about > 10:00. > > It then rose and fell again with a turn later in the day at 911. So the > turn > > was actually lower than Ernie predicted. > > > > That said, I do agree that Ernie's forecasts since I've been following > them > > have certainly been on the money and within what I would consider > > "experimental error". > > > > However, I have the same kind of feeling about Elliot Wave Theory as > > Einstein had about the uncertainty principal - without a rational > > explanation for why it works (if it does reliably), its hard to believe in > > it. > > > > I can understand fibonacci numbers recurring frequently in nature because > > they could be somehow encoded in DNA, but I have a hard time seeing how > they > > could apply to the stock market. But then again, I haven't put any time > into > > trying to understand the causal connection and my comments are based > largely > > on ignorance. If any member of the group can explain a possible causal > > relationship, I would find that helpful. > > > > Also, why is this off topic? Understanding M is fundamental to CANSLIM > > because 75% of stocks go with the flow. > > > > Aloha, > > > > Mike Gibbons > > Proactive Technologies, LLC > > http://www.proactech.com > > > > > > -----Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Kelly Short > > Sent: Thursday, August 29, 2002 10:36 AM > > To: canslim@lists.xmission.com > > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > > > Norm, > > > > I was commenting at lunch at perfectly he called it today and yesterday. > > Almost to the hour. I wonder if he tracks the success of his predictions. > > > > Kelly > > > > -----Original Message----- > > From: Norman [mailto:theboyd@tisd.net] > > Sent: Thursday, August 29, 2002 3:27 PM > > To: canslim@lists.xmission.com > > Subject: [CANSLIM] Ernie's Forecasts > > > > > > All, > > > > I know it's a little (OK a lot) off topic, but is interesting. For > those > > of you who subscribed to Ernie's S&P 500 forecasts, did you notice he has > > apparently called this one perfectly. He predicted a turn window or > > 910-913. Today it turned at 911.06. For now, his crystal ball is > working. > > For those of you who are not subscribed I copied last nights forecast > below. > > > > Norm > > > > > > Once again today could be the bottom, as we came within a whisker of the > > 910-913 target range, and both of my short term cycle indicators are > > suggesting that a turn is imminent. While the next target level of 876-884 > > is still a possibility, at this point I would have to say that it is not > > very likely that we will go that low. > > > > > > > > The 910-913 range has emerged as the high probability target for the > > termination of this short term down move. The most likely scenario for > > tomorrow would be a move slightly lower into the target range or just > below > > before the market terminates the move, and begins to go higher. The second > > most likely scenario is that the market will open higher and continue to > > move higher from there. And the third most likely scenario would be a > > continuation of the down move possibly as low as 900, with an intra-day > > reversal featuring a closing price above at least 911. Each of these > > scenarios involves the 910-913 target range. > > > > > > > > Despite the high probability that we are about to make a turn and not > likely > > to go much lower, until we see the turn confirmation signal this market > > could still reach the lower target range > > > > > > > > E > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > ____________________________________________________________________________ > > For your protection, this e-mail message has been scanned for viruses. > > Visit us at http://www.neoris.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. > > > > > > - > > -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: Thu, 29 Aug 2002 17:17:04 -0500 From: "Norman" Subject: Re: [CANSLIM] Ernie's Forecasts I agree David, Mike, that mathematicians and statisticians can find all sorts of "correlations" in nature. And, I am also fascinated by these little "Easter eggs", to use a programmers phrase for "hidden goodies". But correlation, by definition, does not infer a cause & effect relationship. And, I know first hand that if these little circumstances are not scrutinized VERY carefully and OBJECTIVELY, then even very intelligent folks can come the wrong conclusion. Plus, there are other variables that can affect species in nature besides inheritance. With that, I think I may have come to end of my own intelligence on the matter (did I hear applause), and we are waaaayyyyy OT now. Thanks for y'alls (yep, I'm from TX) input. Norm - ----- Original Message ----- From: "David Taggart" To: Sent: Thursday, August 29, 2002 4:58 PM Subject: RE: [CANSLIM] Ernie's Forecasts > Norm, > > Fibonacci ratios are found throughout nature. > http://www.brooksdesign-ps.com/Code/Html/godna2.htm also check out The > Elliot Wave Theory by Frost it talks a lot about Fib ratios. That being > said I dont use them much. > > David > > > > > Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman > Sent: Thursday, August 29, 2002 3:14 PM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Ernie's Forecasts > > > Hi Maui Mike, > > OK, on topic and out of the shadows The investors.com chart shows a low > of 911.06. I know that sometimes there are trades that confound the > charting sites, so where can I get the same info you have? > > As for encoding Fib lines in DNA; that's a little far fetched even for this > Trekker to consider My ecology understanding dictates that genes survive > by increasing the reproductive success of the species. Now I can think > "outside of the box" as good as the next scientist, but this one doesn't > seem to be in the same room with the box Looks like an observation has > been made, now you have postulated a theory, who's gonna test it > > Elliot wave theory is 'nother story and one that I don't have enuf knowledge > to address at this time. > > There, now *that's* OT! > > Norm > ----- Original Message ----- > From: "Mike Gibbons" > To: > Sent: Thursday, August 29, 2002 4:01 PM > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > Norm and kelly, > > > > I don't want to be picky, but the S&P 500 sank to below 905 at about > 10:00. > > It then rose and fell again with a turn later in the day at 911. So the > turn > > was actually lower than Ernie predicted. > > > > That said, I do agree that Ernie's forecasts since I've been following > them > > have certainly been on the money and within what I would consider > > "experimental error". > > > > However, I have the same kind of feeling about Elliot Wave Theory as > > Einstein had about the uncertainty principal - without a rational > > explanation for why it works (if it does reliably), its hard to believe in > > it. > > > > I can understand fibonacci numbers recurring frequently in nature because > > they could be somehow encoded in DNA, but I have a hard time seeing how > they > > could apply to the stock market. But then again, I haven't put any time > into > > trying to understand the causal connection and my comments are based > largely > > on ignorance. If any member of the group can explain a possible causal > > relationship, I would find that helpful. > > > > Also, why is this off topic? Understanding M is fundamental to CANSLIM > > because 75% of stocks go with the flow. > > > > Aloha, > > > > Mike Gibbons > > Proactive Technologies, LLC > > http://www.proactech.com > > > > > > -----Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Kelly Short > > Sent: Thursday, August 29, 2002 10:36 AM > > To: canslim@lists.xmission.com > > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > > > Norm, > > > > I was commenting at lunch at perfectly he called it today and yesterday. > > Almost to the hour. I wonder if he tracks the success of his predictions. > > > > Kelly > > > > -----Original Message----- > > From: Norman [mailto:theboyd@tisd.net] > > Sent: Thursday, August 29, 2002 3:27 PM > > To: canslim@lists.xmission.com > > Subject: [CANSLIM] Ernie's Forecasts > > > > > > All, > > > > I know it's a little (OK a lot) off topic, but is interesting. For > those > > of you who subscribed to Ernie's S&P 500 forecasts, did you notice he has > > apparently called this one perfectly. He predicted a turn window or > > 910-913. Today it turned at 911.06. For now, his crystal ball is > working. > > For those of you who are not subscribed I copied last nights forecast > below. > > > > Norm > > > > > > Once again today could be the bottom, as we came within a whisker of the > > 910-913 target range, and both of my short term cycle indicators are > > suggesting that a turn is imminent. While the next target level of 876-884 > > is still a possibility, at this point I would have to say that it is not > > very likely that we will go that low. > > > > > > > > The 910-913 range has emerged as the high probability target for the > > termination of this short term down move. The most likely scenario for > > tomorrow would be a move slightly lower into the target range or just > below > > before the market terminates the move, and begins to go higher. The second > > most likely scenario is that the market will open higher and continue to > > move higher from there. And the third most likely scenario would be a > > continuation of the down move possibly as low as 900, with an intra-day > > reversal featuring a closing price above at least 911. Each of these > > scenarios involves the 910-913 target range. > > > > > > > > Despite the high probability that we are about to make a turn and not > likely > > to go much lower, until we see the turn confirmation signal this market > > could still reach the lower target range > > > > > > > > E > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > ____________________________________________________________________________ > > For your protection, this e-mail message has been scanned for viruses. > > Visit us at http://www.neoris.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. > > > > > > - > > -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: Thu, 29 Aug 2002 16:17:23 -0600 From: "rolf hertenstein" Subject: Re: [CANSLIM] Ernie's Forecasts While Ernie is calling for a turn low (short-term bottom), and a general uptrend through September, IBD (which I buy in town once a week or so) today has a front page story about leaders breaking down and 3 distribution days in the last two weeks spelling trouble for this latest rally. It'll be edifying to watch what happens. Rolf > All, > > I know it's a little (OK a lot) off topic, but is interesting. For those > of you who subscribed to Ernie's S&P 500 forecasts, did you notice he has > apparently called this one perfectly. He predicted a turn window or > 910-913. Today it turned at 911.06. For now, his crystal ball is working. > For those of you who are not subscribed I copied last nights forecast below. > > Norm > > > Once again today could be the bottom, as we came within a whisker of the > 910-913 target range, and both of my short term cycle indicators are > suggesting that a turn is imminent. While the next target level of 876-884 > is still a possibility, at this point I would have to say that it is not > very likely that we will go that low. > > > > The 910-913 range has emerged as the high probability target for the > termination of this short term down move. The most likely scenario for > tomorrow would be a move slightly lower into the target range or just below > before the market terminates the move, and begins to go higher. The second > most likely scenario is that the market will open higher and continue to > move higher from there. And the third most likely scenario would be a > continuation of the down move possibly as low as 900, with an intra-day > reversal featuring a closing price above at least 911. Each of these > scenarios involves the 910-913 target range. > > > > Despite the high probability that we are about to make a turn and not likely > to go much lower, until we see the turn confirmation signal this market > could still reach the lower target range > > > > E > > > > - > -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: Thu, 29 Aug 2002 12:28:43 -1000 From: "Mike Gibbons" Subject: RE: [CANSLIM] Ernie's Forecasts My point was simply to say that there is a plausible explanation for the occurance of fibonnaci numbers all around us in nature, and to ask the question: Is there a plausible explanation for the occurance of fibonacci series in stock market waves? Aloha, Mike Gibbons Proactive Technologies, LLC http://www.proactech.com - -----Original Message----- From: owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman Sent: Thursday, August 29, 2002 12:17 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Ernie's Forecasts I agree David, Mike, that mathematicians and statisticians can find all sorts of "correlations" in nature. And, I am also fascinated by these little "Easter eggs", to use a programmers phrase for "hidden goodies". But correlation, by definition, does not infer a cause & effect relationship. And, I know first hand that if these little circumstances are not scrutinized VERY carefully and OBJECTIVELY, then even very intelligent folks can come the wrong conclusion. Plus, there are other variables that can affect species in nature besides inheritance. With that, I think I may have come to end of my own intelligence on the matter (did I hear applause), and we are waaaayyyyy OT now. Thanks for y'alls (yep, I'm from TX) input. Norm - ----- Original Message ----- From: "David Taggart" To: Sent: Thursday, August 29, 2002 4:58 PM Subject: RE: [CANSLIM] Ernie's Forecasts > Norm, > > Fibonacci ratios are found throughout nature. > http://www.brooksdesign-ps.com/Code/Html/godna2.htm also check out The > Elliot Wave Theory by Frost it talks a lot about Fib ratios. That being > said I dont use them much. > > David > > > > > Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman > Sent: Thursday, August 29, 2002 3:14 PM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Ernie's Forecasts > > > Hi Maui Mike, > > OK, on topic and out of the shadows The investors.com chart shows a low > of 911.06. I know that sometimes there are trades that confound the > charting sites, so where can I get the same info you have? > > As for encoding Fib lines in DNA; that's a little far fetched even for this > Trekker to consider My ecology understanding dictates that genes survive > by increasing the reproductive success of the species. Now I can think > "outside of the box" as good as the next scientist, but this one doesn't > seem to be in the same room with the box Looks like an observation has > been made, now you have postulated a theory, who's gonna test it > > Elliot wave theory is 'nother story and one that I don't have enuf knowledge > to address at this time. > > There, now *that's* OT! > > Norm > ----- Original Message ----- > From: "Mike Gibbons" > To: > Sent: Thursday, August 29, 2002 4:01 PM > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > Norm and kelly, > > > > I don't want to be picky, but the S&P 500 sank to below 905 at about > 10:00. > > It then rose and fell again with a turn later in the day at 911. So the > turn > > was actually lower than Ernie predicted. > > > > That said, I do agree that Ernie's forecasts since I've been following > them > > have certainly been on the money and within what I would consider > > "experimental error". > > > > However, I have the same kind of feeling about Elliot Wave Theory as > > Einstein had about the uncertainty principal - without a rational > > explanation for why it works (if it does reliably), its hard to believe in > > it. > > > > I can understand fibonacci numbers recurring frequently in nature because > > they could be somehow encoded in DNA, but I have a hard time seeing how > they > > could apply to the stock market. But then again, I haven't put any time > into > > trying to understand the causal connection and my comments are based > largely > > on ignorance. If any member of the group can explain a possible causal > > relationship, I would find that helpful. > > > > Also, why is this off topic? Understanding M is fundamental to CANSLIM > > because 75% of stocks go with the flow. > > > > Aloha, > > > > Mike Gibbons > > Proactive Technologies, LLC > > http://www.proactech.com > > > > > > -----Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Kelly Short > > Sent: Thursday, August 29, 2002 10:36 AM > > To: canslim@lists.xmission.com > > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > > > Norm, > > > > I was commenting at lunch at perfectly he called it today and yesterday. > > Almost to the hour. I wonder if he tracks the success of his predictions. > > > > Kelly > > > > -----Original Message----- > > From: Norman [mailto:theboyd@tisd.net] > > Sent: Thursday, August 29, 2002 3:27 PM > > To: canslim@lists.xmission.com > > Subject: [CANSLIM] Ernie's Forecasts > > > > > > All, > > > > I know it's a little (OK a lot) off topic, but is interesting. For > those > > of you who subscribed to Ernie's S&P 500 forecasts, did you notice he has > > apparently called this one perfectly. He predicted a turn window or > > 910-913. Today it turned at 911.06. For now, his crystal ball is > working. > > For those of you who are not subscribed I copied last nights forecast > below. > > > > Norm > > > > > > Once again today could be the bottom, as we came within a whisker of the > > 910-913 target range, and both of my short term cycle indicators are > > suggesting that a turn is imminent. While the next target level of 876-884 > > is still a possibility, at this point I would have to say that it is not > > very likely that we will go that low. > > > > > > > > The 910-913 range has emerged as the high probability target for the > > termination of this short term down move. The most likely scenario for > > tomorrow would be a move slightly lower into the target range or just > below > > before the market terminates the move, and begins to go higher. The second > > most likely scenario is that the market will open higher and continue to > > move higher from there. And the third most likely scenario would be a > > continuation of the down move possibly as low as 900, with an intra-day > > reversal featuring a closing price above at least 911. Each of these > > scenarios involves the 910-913 target range. > > > > > > > > Despite the high probability that we are about to make a turn and not > likely > > to go much lower, until we see the turn confirmation signal this market > > could still reach the lower target range > > > > > > > > E > > > > > > > > - > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > -In the email body, write "subscribe canslim" or > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > ____________________________________________________________________________ > > For your protection, this e-mail message has been scanned for viruses. > > Visit us at http://www.neoris.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. > > > > > > - > > -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: Thu, 29 Aug 2002 17:33:35 -0500 From: "Norman" Subject: Re: [CANSLIM] Ernie's Forecasts Mike, Fair question. And I apologize (to all) for going so far "out in the woods." It's a soap box I carry with me every where I go Norm - ----- Original Message ----- From: "Mike Gibbons" To: Sent: Thursday, August 29, 2002 5:28 PM Subject: RE: [CANSLIM] Ernie's Forecasts > My point was simply to say that there is a plausible explanation for the > occurance of fibonnaci numbers all around us in nature, and to ask the > question: Is there a plausible explanation for the occurance of fibonacci > series in stock market waves? > > Aloha, > > Mike Gibbons > Proactive Technologies, LLC > http://www.proactech.com > > > -----Original Message----- > From: owner-canslim@lists.xmission.com > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman > Sent: Thursday, August 29, 2002 12:17 PM > To: canslim@lists.xmission.com > Subject: Re: [CANSLIM] Ernie's Forecasts > > > I agree David, Mike, that mathematicians and statisticians can find all > sorts of "correlations" in nature. And, I am also fascinated by these > little "Easter eggs", to use a programmers phrase for "hidden goodies". But > correlation, by definition, does not infer a cause & effect relationship. > And, I know first hand that if these little circumstances are not > scrutinized VERY carefully and OBJECTIVELY, then even very intelligent folks > can come the wrong conclusion. Plus, there are other variables that can > affect species in nature besides inheritance. With that, I think I may have > come to end of my own intelligence on the matter (did I hear applause), > and we are waaaayyyyy OT now. Thanks for y'alls (yep, I'm from TX) input. > > Norm > ----- Original Message ----- > From: "David Taggart" > To: > Sent: Thursday, August 29, 2002 4:58 PM > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > Norm, > > > > Fibonacci ratios are found throughout nature. > > http://www.brooksdesign-ps.com/Code/Html/godna2.htm also check out The > > Elliot Wave Theory by Frost it talks a lot about Fib ratios. That being > > said I dont use them much. > > > > David > > > > > > > > > > Original Message----- > > From: owner-canslim@lists.xmission.com > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman > > Sent: Thursday, August 29, 2002 3:14 PM > > To: canslim@lists.xmission.com > > Subject: Re: [CANSLIM] Ernie's Forecasts > > > > > > Hi Maui Mike, > > > > OK, on topic and out of the shadows The investors.com chart shows a > low > > of 911.06. I know that sometimes there are trades that confound the > > charting sites, so where can I get the same info you have? > > > > As for encoding Fib lines in DNA; that's a little far fetched even for > this > > Trekker to consider My ecology understanding dictates that genes > survive > > by increasing the reproductive success of the species. Now I can think > > "outside of the box" as good as the next scientist, but this one doesn't > > seem to be in the same room with the box Looks like an observation has > > been made, now you have postulated a theory, who's gonna test it > > > > Elliot wave theory is 'nother story and one that I don't have enuf > knowledge > > to address at this time. > > > > There, now *that's* OT! > > > > Norm > > ----- Original Message ----- > > From: "Mike Gibbons" > > To: > > Sent: Thursday, August 29, 2002 4:01 PM > > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > > > > Norm and kelly, > > > > > > I don't want to be picky, but the S&P 500 sank to below 905 at about > > 10:00. > > > It then rose and fell again with a turn later in the day at 911. So the > > turn > > > was actually lower than Ernie predicted. > > > > > > That said, I do agree that Ernie's forecasts since I've been following > > them > > > have certainly been on the money and within what I would consider > > > "experimental error". > > > > > > However, I have the same kind of feeling about Elliot Wave Theory as > > > Einstein had about the uncertainty principal - without a rational > > > explanation for why it works (if it does reliably), its hard to believe > in > > > it. > > > > > > I can understand fibonacci numbers recurring frequently in nature > because > > > they could be somehow encoded in DNA, but I have a hard time seeing how > > they > > > could apply to the stock market. But then again, I haven't put any time > > into > > > trying to understand the causal connection and my comments are based > > largely > > > on ignorance. If any member of the group can explain a possible causal > > > relationship, I would find that helpful. > > > > > > Also, why is this off topic? Understanding M is fundamental to CANSLIM > > > because 75% of stocks go with the flow. > > > > > > Aloha, > > > > > > Mike Gibbons > > > Proactive Technologies, LLC > > > http://www.proactech.com > > > > > > > > > -----Original Message----- > > > From: owner-canslim@lists.xmission.com > > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Kelly Short > > > Sent: Thursday, August 29, 2002 10:36 AM > > > To: canslim@lists.xmission.com > > > Subject: RE: [CANSLIM] Ernie's Forecasts > > > > > > > > > Norm, > > > > > > I was commenting at lunch at perfectly he called it today and yesterday. > > > Almost to the hour. I wonder if he tracks the success of his > predictions. > > > > > > Kelly > > > > > > -----Original Message----- > > > From: Norman [mailto:theboyd@tisd.net] > > > Sent: Thursday, August 29, 2002 3:27 PM > > > To: canslim@lists.xmission.com > > > Subject: [CANSLIM] Ernie's Forecasts > > > > > > > > > All, > > > > > > I know it's a little (OK a lot) off topic, but is interesting. For > > those > > > of you who subscribed to Ernie's S&P 500 forecasts, did you notice he > has > > > apparently called this one perfectly. He predicted a turn window or > > > 910-913. Today it turned at 911.06. For now, his crystal ball is > > working. > > > For those of you who are not subscribed I copied last nights forecast > > below. > > > > > > Norm > > > > > > > > > Once again today could be the bottom, as we came within a whisker of the > > > 910-913 target range, and both of my short term cycle indicators are > > > suggesting that a turn is imminent. While the next target level of > 876-884 > > > is still a possibility, at this point I would have to say that it is not > > > very likely that we will go that low. > > > > > > > > > > > > The 910-913 range has emerged as the high probability target for the > > > termination of this short term down move. The most likely scenario for > > > tomorrow would be a move slightly lower into the target range or just > > below > > > before the market terminates the move, and begins to go higher. The > second > > > most likely scenario is that the market will open higher and continue to > > > move higher from there. And the third most likely scenario would be a > > > continuation of the down move possibly as low as 900, with an intra-day > > > reversal featuring a closing price above at least 911. Each of these > > > scenarios involves the 910-913 target range. > > > > > > > > > > > > Despite the high probability that we are about to make a turn and not > > likely > > > to go much lower, until we see the turn confirmation signal this market > > > could still reach the lower target range > > > > > > > > > > > > E > > > > > > > > > > > > - > > > -To subscribe/unsubscribe, email "majordomo@xmission.com" > > > -In the email body, write "subscribe canslim" or > > > -"unsubscribe canslim". Do not use quotes in your email. > > > > > > > > > ____________________________________________________________________________ > > > For your protection, this e-mail message has been scanned for viruses. > > > Visit us at http://www.neoris.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. > > > > > > > > > - > > > -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. ------------------------------ End of canslim-digest V2 #2887 ****************************** 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.