From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #3423 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 Tuesday, July 15 2003 Volume 02 : Number 3423 In this issue: RE: [CANSLIM] Market Trend Charts Re: [CANSLIM] Market Trend Charts RE: [CANSLIM] Market Trend Charts ---------------------------------------------------------------------- Date: Tue, 15 Jul 2003 20:12:58 -0700 (PDT) From: Dave Stem Subject: RE: [CANSLIM] Market Trend Charts - --0-734456376-1058325178=:39267 Content-Type: text/plain; charset=us-ascii Pritish -- I agree with you exactly. IMHO it will take 14 years before the markets really break to a new high. Well, 11 counting the three we've just been through. In the 1968-82 period, the 1000 point barrier was called "The Graveyard in the Sky" because of all the rallies that failed at that point. I'm very interested in learning how to apply CANSLIM in such a range bound market. But I also want to trade with the idea in mind that I may well be wrong about my ideas on what the market will do. Therefore, I'm looking for buy/sell rules that work despite my opinions. For example, SELL if a stock breaks its 50 day moving average. On thing I have come up with is the idea of getting into the market one profitable trade at a time. Last year, I became convinced that a bull market was beginning and bought 6 different stocks on breakouts, convinced that surely 1-2 would remain above their 7-8% stop loss and therefore bail me out. Instead, the market turned sharply against me and I was quickly down 8+ % (because I bought some on margin). This year, when the market started looking good to me, I only put on one trade. Once that proved profitable, I raised my stop loss level to break even and put on a second trade. So, I've scaled my way into the market. I am hoping that approach will keep me from taking too big a hit if I am wrong about market direction in the future. Also, I am being vigilant about limiting my purchases so that if my 7% stop is hit, the loss is less than 1.5% of my total portfolio. Over and over in the Market Wizards books professional traders talk about keeping the risk on any individual trade to less than 2%. I don't think WON stresses this rule enough. Thanks for your post! Dave Pritish Shah wrote: Hi Kelly, I have been studying where I am making mistakes. A lot of my failures were bought when Nasdaq was touching the upper bollinger bands. Checkout the following chart. You will notice that Nasdaq is currently toying with the upper bollinger bands and has been bouncing from the 20dma. So the best time to buy would be when Nasdaq again touches 20dma and there are a flurry of breakouts. http://finance.yahoo.com/q?s=^IXIC&d=c&k=c3&a=vm,m26-12-9,ss,fs&p=m20,b&t=6m&l=on&z=l&q=b A lot of people have shown me charts that basically predict that the market will churn for the next few years and I believe that would be the trend. This is where CANSLIM can do much better than any other method of investing. Take a look at the following chart. You will notice that from 1937 to 1950 (13 yrs), the market was pretty much flat. From 1965 to 1983 also the market was flat. There was also a flat period before 1930 but that is not shown on the graph. http://finance.yahoo.com/q?s=^DJI&d=c&k=c3&p=&t=my&l=on&z=l&q=l Basically after every major rise, the market pauses for several years and then tries again. This has happened 3 times on DJI. Nasdaq is currently behaving exactly like DJI from 1930 to 1933. If it continues to behave like DJI, for next year and half, we are not going to go anywhere and then there will be a major move upwards. I am open for discussions but not flames please. Thanks, Pritish >>> kelly.short@fw.us.neoris.com 07/15/03 02:40PM >>> Gene, What was in your patriotic Wheeties this morning?! Thanks for the explanation though. Have you thought about a career in politics because that answer was perfectly on the middle ground. Okay, okay. I'll ride the trend. I'm just bitter: three of my recent BO purchases have gotten SARS and are in quarantine. I fear I may lose them to the "disease", or the hurricane, or whatever ailment is keeping them from soaring. That said- I did enjoy reading the information you passed along- thanks! Kelly - -----Original Message----- From: Gene Ricci [ mailto:genr@swbell.net] Sent: Tuesday, July 15, 2003 1:06 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Market Trend Charts Kelly, forgive the cliché......... "The trend is your friend". Now here's another profound statement "the trend is up until proven otherwise". Many indicators are showing overbought, but they can stay overbought for a long long time. Take last year, they stayed oversold for a long long time. Most likely there is a bit of consolidation going on .... but who knows which way the break will occur. One just has to decide at what point the trend has changed from up to down (or sideways). And at what point another breakout to the upside has occurred. Each person must decide this on his/her own. We were told that there would not be a post war rally - is that true? We were told the new dividend law would not affect stock prices - is that true? Although I don't see signs of a renewed bear.... I hear them in the background.... moaning and groaning as they try to save face after losing their butts.... shorting this year. I feel that the market has to continue its upward trend because the public wants it to (to say nothing about the administration). When I attend meetings, read user group email and talk to friends I'm reminded of the Statue of Liberty.... "give me your tired, your poor, your huddled masses yearning to breathe free" translated to: We're tired (poor management, manipulation, lies, cooked books), we're poor, your investors are yearning to once again believe!!!! ... kind of corny but what the heck! Gene - ----- Original Message ----- From: Kelly Short < mailto:kelly.short@fw.us.neoris.com > To: canslim@lists.xmission.com Sent: Tuesday, July 15, 2003 10:53 AM Subject: RE: [CANSLIM] Market Trend Charts Gene, Do you have any opinions to offer regarding this information? I see that many stocks are above their 50 and 200 dma and that RS lines are trending downward. However, most stocks seem to be trading between their upper and lower bands and money flow doesn't seem to indicate enormous swings either way. Do you think the market is a) absorbing a recent run-up b) peaking before a short term decline towards a resistance point, or c) giving the bear market pundits fuel for the flames (e.g. forecasting a major decline)? I'd be interested to hear what you have to say. Thanks. Kelly - -----Original Message----- From: Gene Ricci [ mailto:genr@swbell.net] Sent: Monday, July 14, 2003 7:19 PM To: canslim@lists.xmission.com Subject: [CANSLIM] Market Trend Charts May be of interest to you. Gene Charts have been updated through today (7/14) http://www.sectorrotationfund.com/MarketTrends.htm Duke Jones, CMT www.longboatglobal.com www.sectorrotationfund.com - --------------------------------- Do you Yahoo!? SBC Yahoo! DSL - Now only $29.95 per month! - --0-734456376-1058325178=:39267 Content-Type: text/html; charset=us-ascii
Pritish --
 
I agree with you exactly.  IMHO it will take 14 years before the markets really break to a new high.  Well, 11 counting the three we've just been through.  In the 1968-82 period, the 1000 point barrier was called "The Graveyard in the Sky" because of all the rallies that failed at that point. 
 
I'm very interested in learning how to apply CANSLIM in such a range bound market.  But I also want to trade with the idea in mind that I may well be wrong about my ideas on what the market will do.  Therefore, I'm looking for buy/sell rules that work despite my opinions.  For example, SELL if a stock breaks its 50 day moving average. 
 
On thing I have come up with is the idea of getting into the market one profitable trade at a time.  Last year, I became convinced that a bull market was beginning and bought 6 different stocks on breakouts, convinced that surely 1-2 would remain above their 7-8% stop loss and therefore bail me out.  Instead, the market turned sharply against me and I was quickly down 8+ % (because I bought some on margin). 
 
This year, when the market started looking good to me, I only put on one trade.  Once that proved profitable, I raised my stop loss level to break even and put on a second trade.  So, I've scaled my way into the market.  I am hoping that approach will keep me from taking too big a hit if I am wrong about market direction in the future. 
 
Also, I am being vigilant about limiting my purchases so that if my 7% stop is hit, the loss is less than 1.5% of my total portfolio.  Over and over in the Market Wizards books professional traders talk about keeping the risk on any individual trade to less than 2%.  I don't think WON stresses this rule enough.
 
Thanks for your post!
 
Dave

Pritish Shah <pshah@lason.com> wrote:
Hi Kelly,

I have been studying where I am making mistakes. A lot of my failures were bought when Nasdaq was touching the upper bollinger bands. Checkout the following chart. You will notice that Nasdaq is currently toying with the upper bollinger bands and has been bouncing from the 20dma. So the best time to buy would be when Nasdaq again touches 20dma and there are a flurry of breakouts.

http://finance.yahoo.com/q?s=^IXIC&d=c&k=c3&a=vm,m26-12-9,ss,fs&p=m20,b&t=6m&l=on&z=l&q=b

A lot of people have shown me charts that basically predict that the market will churn for the next few years and I believe that would be the trend. This is where CANSLIM can do much better than any other method of investing.

Take a look at the following chart. You will notice that from 1937 to 1950 (13 yrs), the market was pretty much flat. From 1965 to 1983 also the market was flat. There was also a flat period before 1930 but that is not shown on the graph.

http://finance.yahoo.com/q?s=^DJI&d=c&k=c3&p=&t=my&l=on&z=l&q=l

Basically after every major rise, the market pauses for several years and then tries again. This has happened 3 times on DJI. Nasdaq is currently behaving exactly like DJI from 1930 to 1933. If it continues to behave like DJI, for next year and half, we are not going to go anywhere and then there will be a major move upwards.
 
I am open for discussions but not flames please.
 
Thanks,
Pritish

>>> kelly.short@fw.us.neoris.com 07/15/03 02:40PM >>>
Gene,

What was in your patriotic Wheeties this morning?! Thanks for the explanation though. Have you thought about a career in politics because that answer was perfectly on the middle ground.

Okay, okay. I'll ride the trend. I'm just bitter: three of my recent BO purchases have gotten SARS and are in quarantine. I fear I may lose them to the "disease", or the hurricane, or whatever ailment is keeping them from soaring.

That said- I did enjoy reading the information you passed along- thanks!

Kelly

-----Original Message-----
From: Gene Ricci [ mailto:genr@swbell.net]
Sent: Tuesday, July 15, 2003 1:06 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Market Trend Charts


Kelly, forgive the cliché......... "The trend is your friend".

Now here's another profound statement "the trend is up until proven otherwise".

Many indicators are showing overbought, but they can stay overbought for a long long time. Take last year, they stayed oversold for a long long time. Most likely there is a bit of consolidation going on .... but who knows which way the break will occur. One just has to decide at what point the trend has changed from up to down (or sideways). And at what point another breakout to the upside has occurred. Each person must decide this on his/her own.

We were told that there would not be a post war rally - is that true?
We were told the new dividend law would not affect stock prices - is that true?

Although I don't see signs of a renewed bear.... I hear them in the background.... moaning and groaning as they try to save face after losing their butts.... shorting this year.

I feel that the market has to continue its upward trend because the public wants it to (to say nothing about the administration). When I attend meetings, read user group email and talk to friends I'm reminded of the Statue of Liberty....

"give me your tired, your poor, your huddled masses yearning to breathe free"

translated to:

We're tired (poor management, manipulation, lies, cooked books), we're poor, your investors are yearning to once again believe!!!! ... kind of corny but what the heck!

Gene




----- Original Message -----
From: Kelly Short < mailto:kelly.short@fw.us.neoris.com >
To: canslim@lists.xmission.com
Sent: Tuesday, July 15, 2003 10:53 AM
Subject: RE: [CANSLIM] Market Trend Charts


Gene,

Do you have any opinions to offer regarding this information? I see that many stocks are above their 50 and 200 dma and that RS lines are trending downward. However, most stocks seem to be trading between their upper and lower bands and money flow doesn't seem to indicate enormous swings either way. Do you think the market is a) absorbing a recent run-up b) peaking before a short term decline towards a resistance point, or c) giving the bear market pundits fuel for the flames (e.g. forecasting a major decline)? I'd be interested to hear what you have to say. Thanks.

Kelly

-----Original Message-----
From: Gene Ricci [ mailto:genr@swbell.net]
Sent: Monday, July 14, 2003 7:19 PM
To: canslim@lists.xmission.com
Subject: [CANSLIM] Market Trend Charts


May be of interest to you.

Gene



Charts have been updated through today (7/14)

http://www.sectorrotationfund.com/MarketTrends.htm

Duke Jones, CMT
www.longboatglobal.com
www.sectorrotationfund.com




Do you Yahoo!?
SBC Yahoo! DSL - Now only $29.95 per month! - --0-734456376-1058325178=:39267-- - - - -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: Tue, 15 Jul 2003 22:55:15 -0500 From: "Gene Ricci" Subject: Re: [CANSLIM] Market Trend Charts This is a multi-part message in MIME format. - ------=_NextPart_000_0287_01C34B24.27D06320 Content-Type: multipart/alternative; boundary="----=_NextPart_001_0288_01C34B24.27D1E9C0" - ------=_NextPart_001_0288_01C34B24.27D1E9C0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable MessageKelly, what are the SARS patients' names .... may indeed be = pullback candidates. as Oliver Velez often 'sez' in his Swing Trading classes, I may be able = to take them off your hands...=20 Gene ----- Original Message -----=20 From: Kelly Short=20 To: canslim@lists.xmission.com=20 Sent: Tuesday, July 15, 2003 1:40 PM Subject: RE: [CANSLIM] Market Trend Charts Gene, What was in your patriotic Wheeties this morning?! Thanks for the = explanation though. Have you thought about a career in politics because = that answer was perfectly on the middle ground.=20 Okay, okay. I'll ride the trend. I'm just bitter: three of my recent = BO purchases have gotten SARS and are in quarantine. I fear I may lose = them to the "disease", or the hurricane, or whatever ailment is keeping = them from soaring. That said- I did enjoy reading the information you passed along- = thanks! Kelly -----Original Message----- From: Gene Ricci [mailto:genr@swbell.net] Sent: Tuesday, July 15, 2003 1:06 PM To: canslim@lists.xmission.com Subject: Re: [CANSLIM] Market Trend Charts Kelly, forgive the clich=E9......... "The trend is your friend". =20 Now here's another profound statement "the trend is up until proven = otherwise". =20 Many indicators are showing overbought, but they can stay overbought = for a long long time. Take last year, they stayed oversold for a long = long time. Most likely there is a bit of consolidation going on .... = but who knows which way the break will occur. One just has to decide at = what point the trend has changed from up to down (or sideways). And at = what point another breakout to the upside has occurred. Each person = must decide this on his/her own.=20 We were told that there would not be a post war rally - is that = true? We were told the new dividend law would not affect stock prices - is = that true? Although I don't see signs of a renewed bear.... I hear them in the = background.... moaning and groaning as they try to save face after = losing their butts.... shorting this year. I feel that the market has to continue its upward trend because the = public wants it to (to say nothing about the administration). When I = attend meetings, read user group email and talk to friends I'm reminded = of the Statue of Liberty.... "give me your tired, your poor, your huddled masses yearning to = breathe free" translated to: We're tired (poor management, manipulation, lies, cooked books), = we're poor, your investors are yearning to once again believe!!!! = ... kind of corny but what the heck! Gene ----- Original Message -----=20 From: Kelly Short=20 To: canslim@lists.xmission.com=20 Sent: Tuesday, July 15, 2003 10:53 AM Subject: RE: [CANSLIM] Market Trend Charts Gene, Do you have any opinions to offer regarding this information? I = see that many stocks are above their 50 and 200 dma and that RS lines = are trending downward. However, most stocks seem to be trading between = their upper and lower bands and money flow doesn't seem to indicate = enormous swings either way. Do you think the market is a) absorbing a = recent run-up b) peaking before a short term decline towards a = resistance point, or c) giving the bear market pundits fuel for the = flames (e.g. forecasting a major decline)? I'd be interested to hear = what you have to say. Thanks. Kelly -----Original Message----- From: Gene Ricci [mailto:genr@swbell.net] Sent: Monday, July 14, 2003 7:19 PM To: canslim@lists.xmission.com Subject: [CANSLIM] Market Trend Charts May be of interest to you. Gene Charts have been updated through today (7/14) http://www.sectorrotationfund.com/MarketTrends.htm Duke Jones, CMT www.longboatglobal.com www.sectorrotationfund.com - ------=_NextPart_001_0288_01C34B24.27D1E9C0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Message
Kelly, what are the SARS patients' = names=20 .... may indeed be pullback candidates.
 
as Oliver Velez often 'sez' in = his Swing=20 Trading classes, I may be able to take them off your hands... 3D""=20
 
Gene
----- Original Message -----
From:=20 Kelly Short
Sent: Tuesday, July 15, 2003 = 1:40=20 PM
Subject: RE: [CANSLIM] Market = Trend=20 Charts

Gene,
 
What=20 was in your patriotic Wheeties this morning?! Thanks for the = explanation=20 though. Have you thought about a career in politics because that = answer was=20 perfectly on the middle ground.
 
Okay, okay. I'll ride the trend. I'm just bitter: three of my = recent BO=20 purchases have gotten SARS and are in quarantine. I fear I may lose = them to=20 the "disease", or the hurricane, or whatever ailment is keeping them = from=20 soaring.
 
That=20 said- I did enjoy reading the information you passed along-=20 thanks!
 
Kelly
-----Original Message-----
From: Gene Ricci=20 [mailto:genr@swbell.net]
Sent: Tuesday, July 15, 2003 1:06 = PM
To: canslim@lists.xmission.com
Subject: Re: = [CANSLIM]=20 Market Trend Charts

Kelly, forgive = the clich=E9......... "The=20 trend is your friend".  
 
Now here's another profound = statement "the=20 trend is up until proven otherwise". 
 
Many indicators are showing = overbought,=20 but they can stay overbought for a long long time.  = Take last=20 year, they stayed oversold for a long long time.   Most = likely=20 there is a bit of consolidation going on .... but who = knows which=20 way the break will occur.  One just has to decide = at what=20 point the trend has changed from up to down (or sideways).  And = at what=20 point another breakout to the upside has occurred.  Each = person=20 must decide this on his/her own. 
 
We were told that there would not = be a post=20 war rally - is that true?
We were told the new dividend law = would not=20 affect stock prices - is that true?
 
Although I don't see signs of a = renewed=20 bear.... I hear them in the background.... moaning and groaning = as they=20 try to save face after losing their butts....  shorting this=20 year.
 
I feel that the market has to = continue=20 its upward trend because the public wants it to (to say nothing = about the=20 administration). When I attend meetings, read user group email and = talk to=20 friends I'm reminded of the Statue of Liberty....
 
"give me your tired, your = poor, your=20 huddled masses yearning to breathe free"
 
translated to:
 
We're tired (poor management, = manipulation,=20 lies, cooked books), we're poor, your investors are yearning to = once=20 = again believe!!!!        &nb= sp; =20 ... kind of corny but what the=20 heck!
 
Gene
 
 
 
----- Original Message ----- =
From:=20 Kelly Short =
To: canslim@lists.xmission.com= =20
Sent: Tuesday, July 15, = 2003 10:53=20 AM
Subject: RE: [CANSLIM] = Market Trend=20 Charts

Gene,
 
Do you have any opinions to offer regarding this = information? I see=20 that many stocks are above their 50 and 200 dma and that RS lines = are=20 trending downward. However, most stocks seem to be trading between = their=20 upper and lower bands and money flow doesn't seem to indicate = enormous=20 swings either way. Do you think the market is a) absorbing a = recent run-up=20 b) peaking before a short term decline towards a resistance point, = or c) giving the bear market pundits fuel for the flames = (e.g.=20 forecasting a major decline)? I'd be interested to hear what you = have to=20 say. Thanks.
 
Kelly
-----Original Message-----
From: Gene Ricci=20 [mailto:genr@swbell.net]
Sent: Monday, July 14, 2003 = 7:19=20 PM
To: canslim@lists.xmission.com
Subject: = [CANSLIM]=20 Market Trend Charts

May be of interest to = you.
 
Gene
 

Charts have been updated through today = (7/14)
 
http://www.se= ctorrotationfund.com/MarketTrends.htm
 
Duke Jones, CMT
www.longboatglobal.com<= /DIV>
www.sectorrotationfund.com=
 
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Do not use quotes in your email. ------------------------------ Date: Tue, 15 Jul 2003 23:52:42 -0400 From: "Pritish Shah" Subject: RE: [CANSLIM] Market Trend Charts Dave,=20 You asked a good question on how to make money in the range bound market. = There in lies the answer that I hope to use. If the stock market goes to = the bottom of the range, buy. If it goes to the top, lock in your profits = with a trailing stop so if a stock goes higher, we would still be in. I am hoping to purchase breakouts in the top 40 or 50 industries only and = want to do legwork before hand so I only have to make a "yes" or a "no" = decision when an alert occurs. I am still learning and the idea of "8% loss in a stock should not be = greater than 2% of total portfolio" is a great. So at minimum, I should = not invest more than 1/12th of my total portfolio in any individual stock. Pritish >>> canslimdave2003@yahoo.com 07/15/03 23:11 PM >>> Pritish --=20 =20 I agree with you exactly. IMHO it will take 14 years before the markets = really break to a new high. Well, 11 counting the three we've just been = through. In the 1968-82 period, the 1000 point barrier was called "The = Graveyard in the Sky" because of all the rallies that failed at that = point. =20 =20 I'm very interested in learning how to apply CANSLIM in such a range bound = market. But I also want to trade with the idea in mind that I may well be = wrong about my ideas on what the market will do. Therefore, I'm looking = for buy/sell rules that work despite my opinions. For example, SELL if a = stock breaks its 50 day moving average. =20 =20 On thing I have come up with is the idea of getting into the market one = profitable trade at a time. Last year, I became convinced that a bull = market was beginning and bought 6 different stocks on breakouts, convinced = that surely 1-2 would remain above their 7-8% stop loss and therefore bail = me out. Instead, the market turned sharply against me and I was quickly = down 8+ % (because I bought some on margin). =20 =20 This year, when the market started looking good to me, I only put on one = trade. Once that proved profitable, I raised my stop loss level to break = even and put on a second trade. So, I've scaled my way into the market. = I am hoping that approach will keep me from taking too big a hit if I am = wrong about market direction in the future. =20 =20 Also, I am being vigilant about limiting my purchases so that if my 7% = stop is hit, the loss is less than 1.5% of my total portfolio. Over and = over in the Market Wizards books professional traders talk about keeping = the risk on any individual trade to less than 2%. I don't think WON = stresses this rule enough. =20 Thanks for your post! =20 Dave Pritish Shah wrote: Hi Kelly,=20 I have been studying where I am making mistakes. A lot of my failures were = bought when Nasdaq was touching the upper bollinger bands. Checkout the = following chart. You will notice that Nasdaq is currently toying with the = upper bollinger bands and has been bouncing from the 20dma. So the best = time to buy would be when Nasdaq again touches 20dma and there are a = flurry of breakouts.=20 http://finance.yahoo.com/q?s=3D^IXIC&d=3Dc&k=3Dc3&a=3Dvm,m26-12-9,ss,fs&p= =3Dm20,b&t=3D6m&l=3Don&z=3Dl&q=3Db=20 A lot of people have shown me charts that basically predict that the = market will churn for the next few years and I believe that would be the = trend. This is where CANSLIM can do much better than any other method of = investing.=20 Take a look at the following chart. You will notice that from 1937 to 1950 = (13 yrs), the market was pretty much flat. From 1965 to 1983 also the = market was flat. There was also a flat period before 1930 but that is not = shown on the graph.=20 http://finance.yahoo.com/q?s=3D^DJI&d=3Dc&k=3Dc3&p=3D&t=3Dmy&l=3Don&z=3Dl&q= =3Dl=20 Basically after every major rise, the market pauses for several years and = then tries again. This has happened 3 times on DJI. Nasdaq is currently = behaving exactly like DJI from 1930 to 1933. If it continues to behave = like DJI, for next year and half, we are not going to go anywhere and then = there will be a major move upwards. =20 I am open for discussions but not flames please. =20 Thanks, Pritish >>> kelly.short@fw.us.neoris.com 07/15/03 02:40PM >>>=20 Gene,=20 What was in your patriotic Wheeties this morning?! Thanks for the = explanation though. Have you thought about a career in politics because = that answer was perfectly on the middle ground.=20 Okay, okay. I'll ride the trend. I'm just bitter: three of my recent BO = purchases have gotten SARS and are in quarantine. I fear I may lose them = to the "disease", or the hurricane, or whatever ailment is keeping them = from soaring.=20 That said- I did enjoy reading the information you passed along- thanks!=20= Kelly=20 - -----Original Message-----=20 From: Gene Ricci [ mailto:genr@swbell.net]=20 Sent: Tuesday, July 15, 2003 1:06 PM=20 To: canslim@lists.xmission.com=20 Subject: Re: [CANSLIM] Market Trend Charts=20 Kelly, forgive the clich=E9......... "The trend is your friend".=20 Now here's another profound statement "the trend is up until proven = otherwise".=20 Many indicators are showing overbought, but they can stay overbought for a = long long time. Take last year, they stayed oversold for a long long time. = Most likely there is a bit of consolidation going on .... but who knows = which way the break will occur. One just has to decide at what point the = trend has changed from up to down (or sideways). And at what point another = breakout to the upside has occurred. Each person must decide this on = his/her own.=20 We were told that there would not be a post war rally - is that true?=20 We were told the new dividend law would not affect stock prices - is that = true?=20 Although I don't see signs of a renewed bear.... I hear them in the = background.... moaning and groaning as they try to save face after losing = their butts.... shorting this year.=20 I feel that the market has to continue its upward trend because the public = wants it to (to say nothing about the administration). When I attend = meetings, read user group email and talk to friends I'm reminded of the = Statue of Liberty....=20 "give me your tired, your poor, your huddled masses yearning to breathe = free"=20 translated to:=20 We're tired (poor management, manipulation, lies, cooked books), we're = poor, your investors are yearning to once again believe!!!! ... kind of = corny but what the heck!=20 Gene=20 - ----- Original Message -----=20 From: Kelly Short < mailto:kelly.short@fw.us.neoris.com >=20 To: canslim@lists.xmission.com=20 Sent: Tuesday, July 15, 2003 10:53 AM=20 Subject: RE: [CANSLIM] Market Trend Charts=20 Gene,=20 Do you have any opinions to offer regarding this information? I see that = many stocks are above their 50 and 200 dma and that RS lines are trending = downward. However, most stocks seem to be trading between their upper and = lower bands and money flow doesn't seem to indicate enormous swings either = way. Do you think the market is a) absorbing a recent run-up b) peaking = before a short term decline towards a resistance point, or c) giving the = bear market pundits fuel for the flames (e.g. forecasting a major = decline)? I'd be interested to hear what you have to say. Thanks.=20 Kelly=20 - -----Original Message-----=20 From: Gene Ricci [ mailto:genr@swbell.net]=20 Sent: Monday, July 14, 2003 7:19 PM=20 To: canslim@lists.xmission.com=20 Subject: [CANSLIM] Market Trend Charts=20 May be of interest to you.=20 Gene=20 Charts have been updated through today (7/14)=20 http://www.sectorrotationfund.com/MarketTrends.htm=20 Duke Jones, CMT=20 www.longboatglobal.com=20 www.sectorrotationfund.com=20 - --------------------------------- Do you Yahoo!? SBC Yahoo! DSL - Now only $29.95 per month! - - - -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 #3423 ****************************** 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.