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Dear Ben et. al.,
And there were 45 new CANSLIM Breakouts on a suckish day compared to an
average of 20. Many of them have PE's below the S&P. If one must ask
themselves if the divergence is for real, there must be a serious question
in their minds...and that's OK. It either is or it isn't.
Just an opposing point of view and some fun from one who thinks cash is
still king [at least to the point of 50% of a long term stock portfolio]
even before this divergence issue cropped. I am not a divergent guy, but I
do like to be prepared...Girl Scout's Motto.
It doesn't hurt to be able to buy some still outstanding stocks at very
decent prices.
The last time I posted this much on market direction was just before the
Iraq invasion...[all I read pre-Iraq was Dow 6000 over and over with all
kinds of charts to support it]. I said then, "after Iraq we rock". With
the tone of the different Boards I see, we could see Dow 10,000 by the end
of the year and optimistically Dow 12,000 in 2004.
We still have not reached the average increase per cent wise for the
second year of a first term President plus throw in the economic stimulus
that is yet unmeasured from the war toys and future tax cuts.
Sincerely and jovially,
John
> New high new low also showing a bearish divergence
> Ben
> ----- Original Message -----
> From: "EarlA" <earl.a@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, September 19, 2003 5:50 PM
> Subject: Re: [RT] Is this divergence for real?
>
>
>> Yes, I have major divergences in my breadth models ringing amid other
>> warnings. However no guarantee that the top is in and I could see a
>> run to 1080-90. I started scaling in a short position yesterday at
>> 1040 buying
> deep
>> in money March 2004 LEAP Puts at 1150 strike. I consider an implied
>> volatility of 16% to be a bargain. I'm not good enough at top picking
>> to nail the exact top.
>>
>> Earl
>>
>> ----- Original Message -----
>> From: "Navtej S. Nandra (RR)" <nnandra@xxxxxxxxxx>
>> To: "swingmachine" <swingmachine@xxxxxxxxxxxxxxx>;
>> <realtraders@xxxxxxxxxxxxxxx>
>> Sent: Friday, September 19, 2003 12:35 PM
>> Subject: [RT] Is this divergence for real?
>>
>>
>> Please see attached; anyone else showing a possible near term top? N
>>
>>
>>
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>>
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>
>
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