From: owner-canslim-digest@lists.xmission.com (canslim-digest) To: canslim-digest@lists.xmission.com Subject: canslim-digest V2 #2448 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, May 23 2002 Volume 02 : Number 2448 In this issue: RE: [CANSLIM] M longer term Re: [CANSLIM] M longer term ---------------------------------------------------------------------- Date: Thu, 23 May 2002 07:21:35 -0500 From: "Hill, Ernie" Subject: RE: [CANSLIM] M longer term 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_000_01C20254.61841630 Content-Type: multipart/alternative ; boundary="----_=_NextPart_001_01C20254.61841630" - ------_=_NextPart_001_01C20254.61841630 Content-Type: text/plain Another try with the chart. - -----Original Message----- From: Hill, Ernie Sent: Wednesday, May 22, 2002 11:06 PM To: 'canslim@lists.xmission.com' Subject: [CANSLIM] M longer term HI group, I am trying to send a chart of the weekly S&P I hope it works out. Normally my technical focus is on a much shorter time frame, but when I saw that we might be about to complete the correction of the move from 9-21 to 1-9, I thought I would take a little longer term perspective. In this chart I have drawn a trend line from the bottom of the first move down from the March 2000 high connecting lows made in March of 2001 and September of 2001. I have also drawn a trend line from the top of the first upward reaction to the initial down move from the March 2000 high and connected it to the high made in May of 2001. As you can see these trend lines clearly define the trading channel of the bear market. Looking at this chart the first indication we have that the bear market is over, is the penetration of the top trend line and the fact that the market has traded outside the bear market channel for most of this year. My current time frame for the next low turning point is within four days of 6-4. This time frame will be reached on this chart in the next two to three bars. Notice where my target price range (1034-1027) for the next low turning point falls on this chart. If during the time frame of the next two to three bars my projected price range is met it will fall just above the upper trend line. From an Elliott wave standpoint the move from 9-21 to 1-9 could be interpreted as a wave one impulse wave, followed by a simple A-B-C zig zag correction as labeled on the chart. With the "C" wave terminating at my projected low turning point, completing impulse wave two, and setting the stage for impulse wave three to begin. Three waves are usually dynamic in nature and longer in duration than one and five waves. In conclusion what I see in the chart patterns and in my analysis is the early dynamic stages of a new "BULL" market. If my projected low turning point is made in the target price range that I have forecast it will complete a very neat technical package, which I believe will usher in happy times for CANSLIMer's as well as anyone else who is long in the market. E PS: If you missed what I posted yesterday about M this post will be harder for you to follow as it is a follow up to yesterday's analysis. ****************************************************************** 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. ****************************************************************** ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ****************************************************************** - ------_=_NextPart_001_01C20254.61841630 Content-Type: text/html Content-Transfer-Encoding: quoted-printable M longer term

Another try with the chart.<= /font>

 

 

 

-----Original Message-----
From: Hill, Ernie
Sent: Wednesday, May 22, 2002 11:06 PM
To: 'canslim@lists.xmission.= com'
Subject: [CANSLIM] M longer = term

 

HI group,

I am trying to sen= d a chart of the weekly S&P I hope it works out. Normally my technical focu= s is on a much shorter time frame, but when I saw that we might be about to comp= lete the correction of the move from 9-21 to 1-9, I thought I would take a little longer term perspective.

In this chart I ha= ve drawn a trend line from the bottom of the first move down from the March 20= 00 high connecting lows made in March of 2001 and September of 2001. I have al= so drawn a trend line from the top of the first upward reaction to the initial down move from the March 2000 high and connected it to the high made in May= of 2001.

As you can see the= se trend lines clearly define the trading channel of the bear market. Looking = at this chart the first indication we have that the bear market is over, is the penetration of the top trend line and the fact that the market has traded outside the bear market channel for most of this year.

My current time fr= ame for the next low turning point is within four days of 6-4. This time frame will be reached on this chart in the next two = to three bars. Notice where my target price range (1034-1027) for the next low turning point falls on this chart. If during the time frame of the next two= to three bars my projected price range is met it will fall just above the upper trend line.

From an Elliott wa= ve standpoint the move from 9-21 to 1-9 could be interpreted as a wave one imp= ulse wave, followed by a simple A-B-C zig zag correction as labeled on the chart. With the "C" wave terminating at my projected low = turning point, completing impulse wave two, and setting the st= age for impulse wave three to begin. Three waves are usually dynamic in nature and longer in duration than one and five waves.

In conclusion what= I see in the chart patterns and in my analysis is the early dynamic stages of a new "BULL" market. If my projected low turning point is = made in the target price range that I have forecast it will complete a very neat technical package, which I believe will usher= in happy times for CANSLIMer's as well as anyone else who is long in the marke= t.

E

PS: If you missed<= /span> what I posted yesterday about M this post will be harder for you to follow as it is a follow u= p to yesterday's analysis.



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Do not use quotes in your email. ------------------------------ Date: Thu, 23 May 2002 09:08:53 -0400 From: "Tom Worley" Subject: Re: [CANSLIM] M longer term This is a multi-part message in MIME format. - ------=_NextPart_000_01C4_01C20239.76005580 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable M longer termthanks, Ernie - ----- Original Message -----=20 From: Hill, Ernie=20 To: 'canslim@lists.xmission.com'=20 Sent: Thursday, May 23, 2002 8:21 AM Subject: RE: [CANSLIM] M longer term Another try with the chart. =20 =20 =20 - -----Original Message----- From: Hill, Ernie=20 Sent: Wednesday, May 22, 2002 11:06 PM To: 'canslim@lists.xmission.com' Subject: [CANSLIM] M longer term =20 HI group, I am trying to send a chart of the weekly S&P I hope it works out. = Normally my technical focus is on a much shorter time frame, but when I = saw that we might be about to complete the correction of the move from = 9-21 to 1-9, I thought I would take a little longer term perspective. In this chart I have drawn a trend line from the bottom of the first = move down from the March 2000 high connecting lows made in March of 2001 = and September of 2001. I have also drawn a trend line from the top of = the first upward reaction to the initial down move from the March 2000 = high and connected it to the high made in May of 2001. As you can see these trend lines clearly define the trading channel of = the bear market. Looking at this chart the first indication we have that = the bear market is over, is the penetration of the top trend line and = the fact that the market has traded outside the bear market channel for = most of this year. My current time frame for the next low turning point is within four days = of 6-4. This time frame will be reached on this chart in the next two to = three bars. Notice where my target price range (1034-1027) for the next = low turning point falls on this chart. If during the time frame of the = next two to three bars my projected price range is met it will fall just = above the upper trend line.=20 From an Elliott wave standpoint the move from 9-21 to 1-9 could be = interpreted as a wave one impulse wave, followed by a simple A-B-C zig = zag correction as labeled on the chart. With the "C" wave terminating at = my projected low turning point, completing impulse wave two, and setting = the stage for impulse wave three to begin. Three waves are usually = dynamic in nature and longer in duration than one and five waves. In conclusion what I see in the chart patterns and in my analysis is the = early dynamic stages of a new "BULL" market. If my projected low turning = point is made in the target price range that I have forecast it will = complete a very neat technical package, which I believe will usher in = happy times for CANSLIMer's as well as anyone else who is long in the = market. E PS: If you missed what I posted yesterday about M this post will be = harder for you to follow as it is a follow up to yesterday's analysis. ****************************************************************** 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_01C4_01C20239.76005580 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable M longer = term
thanks, Ernie
 
----- Original Message -----=20
From: Hill, Ernie=20
Sent: Thursday, May 23, 2002 8:21 AM
Subject: RE: [CANSLIM] M longer term

Another try = with the=20 chart.

 

 

 

-----Original=20 Message-----
From: = Hill, Ernie=20
Sent: Wednesday, May = 22, 2002=20 11:06 PM
To: 'canslim@lists.xmission.com'=
Subject: [CANSLIM] M longer=20 term

 

HI=20 group,

I am trying = to send a=20 chart of the weekly S&P I hope it works out. Normally my technical = focus is=20 on a much shorter time frame, but when I saw that we might be about to = complete=20 the correction of the move from 9-21 to 1-9, I thought I would take a = little=20 longer term perspective.

In this = chart I have=20 drawn a trend line from the bottom of the first move down from the March = 2000=20 high connecting lows made in March of 2001 and September of 2001. I have = also=20 drawn a trend line from the top of the first upward reaction to the = initial down=20 move from the March 2000 high and connected it to the high made in May = of=20 2001.

As you can = see these=20 trend lines clearly define the trading channel of the bear market. = Looking at=20 this chart the first indication we have that the bear market is over, is = the=20 penetration of the top trend line and the fact that the market has = traded=20 outside the bear market channel for most of this=20 year.

My current = time frame=20 for the next low turning point is within four days of 6-4. = This time = frame will=20 be reached on this chart in the next two to three bars. Notice where my = target=20 price range (1034-1027) for the next low turning point falls on this = chart. If=20 during the time frame of the next two to three bars my projected price = range is=20 met it will fall just above the upper trend line. =

From an = Elliott wave=20 standpoint the move from 9-21 to 1-9 could be interpreted as a wave one = impulse=20 wave, followed by a simple A-B-C zig zag correction as = labeled on = the=20 chart. With = the=20 "C" wave = terminating=20 at my projected low=20 turning = point,=20 completing impulse wave two, and setting the stage for impulse wave = three to=20 begin. Three waves = are=20 usually dynamic in nature and longer in duration than one and five=20 waves.

In = conclusion what I=20 see in the chart patterns and in my analysis is the early = dynamic=20 stages of a new "BULL" = market. If my=20 projected low turning point is made in the target price range that I = have=20 forecast it will complete a very neat technical package, which = I=20 believe will = usher in=20 happy times for CANSLIMer's as well as anyone else who is long in the=20 market.

E

PS: If you=20 missed what I = posted=20 yesterday about M this post = will be=20 harder for you to follow as it is a follow up to yesterday's=20 analysis.



*****************************************************************= *
This = email and=20 any files transmitted with it from the ElPaso=20
Corporation are=20 confidential and intended solely for the =
use of = the=20 individual or entity to whom they are addressed.=20
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