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Strategies & Market Trends : CANSLIM - COAST TO COAST -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Brotnov who wrote (4985)	7/20/1999 1:37:00 PM
From: Carl Worth	Read Replies (1) \| Respond to of 6445

Bruce- Today is interesting, not sure if this is the end of the rally for a while or just profit taking. Most of the charts I looked at are fine if they don't pull back much farther. The stocks I own have held up pretty well so far, especially GTNR as you mentioned and also CHEZ. I've only had a couple of stops hit so far although several others missed by 1/4 or 3/8 and then bounced back up so they are not out of danger yet. :) Last year I made quite a bit in the first two weeks of July and then gave it all back because I got too aggressive at the wrong time so I have been more cautious this year once the first two weeks of July were over. The overall valuation of the market would suggest that we need a correction to bring multiples to a more reasonable level and the way the market seems to work it would be hard for the smaller stocks to avoid any substantial correction despite their much more reasonable valuations. It would be nice to go sideways in the small stocks while the big ones correct a little for the next couple of months but I'm not sure if that can happen. It will definitely be interesting. :) One thing that has bothered me the last few days is the number of companies announcing good earnings and then having their stocks sell off substantially. At this point in the year, if earnings can't make stocks rally, I don't see much to cause the market to move forward especially given the light volume in the summer as a whole. The main thing looking forward is still Y2K and I don't see that being a positive. Anyway, one day doesn't make a correction, the rest of the week will let us know where we're headed. :) Carl