Hello Everyone
Alot of leading stocks are still above their 28 day moving average, AAPL, MA,GOOG ,exm etc. and some are breaking out like MOS,POT ,GHM etc...
Maybe its the last shake out before the summer rally ! im holding , next week will tell alot.
from rich The-stock-teacher.com
--- On Fri, 6/6/08, canslim-request@??? <canslim-request@???> wrote:
From: canslim-request@??? <canslim-request@???>
Subject: Canslim Digest, Vol 183, Issue 2
To: canslim@???
Date: Friday, June 6, 2008, 8:45 AM
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than "Re: Contents of Canslim digest..."Today's Topics:
1. Re: M? (jack21b@???)
2. Re: M? (Dave Rubin)
3. AAPL (Nick Pandiscio)
4. Re: M? (Dave Rubin)
5. Re: M? (Duane Runnels)
Follow-through day for Nasdaq I guess … but if we don’t get through resistance at 2550 it can become a double-top.
Still, can the market sustain a rally with only the Nasdaq leading the charge?
We’ll see how the employment number looks tomorrow.
From: canslim-bounces@??? [mailto:canslim-bounces@???] On Behalf Of jack21b@???
Sent: Thursday, June 05, 2008 3:49 PM
To: CANSLIM Stock Investment Group
Subject: Re: [CANSLIM] M?
Added to most of my holdings today .
jack
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What does everyone think about AAPL? It has been approaching a possible 192.34 buy point from a cup-with-handle, and they will possibly be announcing a new iPhone on Monday (which is the "N" in CAN SLIM.) I would expect that this announcement would possibly boost volume through the buy point. Unfortunately, AAPL doesn't seem to be in a leading industry group right now so I'm interested to hear what people have to say about it.
It doesn’t really make sense to me that all week they were calling this a ‘rally attempt’ and today it is “market resumes uptrend.” If this was a rally attempt following a correction, shouldn’t we need a follow-through day to confirm? Is IBD breaking their own rules here?
It seems oil has a lot to do with the market lately. The recent rally coincided with a drop in oil. Now, oil is back up and the market is tanking. The employment numbers were bad (no surprise).
I fear Nasdaq has made a double-top and there is a good chance this market will go back into a correction phase. Not in a rush to get short, but certainly not buying anything here….
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A lot of oil/gas stocks are up nicely today. This often happens when oil is up, but market is down. M has an impact upon these stocks sometimes, but mostly oil does I think
IBD is concerned I think with yesterday's volume being lighter than the day before, so instead of M in Confirmed Rally, which it technically isn't, they're being optimistic with Continued Uptrend. I don't feel they've changed the rules, they're just adapting to what's happening lately, and trying to show that with the new "outlook".
Dave Rubin <daverubin@???> wrote:
It doesn’t really make sense to me that all week they were calling this a ‘rally attempt’ and today it is “market resumes uptrend.” If this was a rally attempt following a correction, shouldn’t we need a follow-through day to confirm? Is IBD breaking their own rules here?
It seems oil has a lot to do with the market lately. The recent rally coincided with a drop in oil. Now, oil is back up and the market is tanking. The employment numbers were bad (no surprise).
I fear Nasdaq has made a double-top and there is a good chance this market will go back into a correction phase. Not in a rush to get short, but certainly not buying anything here….
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Version: 7.5.524 / Virus Database: 269.24.6/1487 - Release Date: 6/6/2008 8:01 AM
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