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All,
Another great week capped by an interesting day Friday <G>. My portfolio
made a good move up for the week, but Friday was scary. The portfolio was
down big at the open Friday, but was almost even for the day at the close.
The good news about a day like Friday is that people are still buying on dips
which confirms that the bull is alive and well.
I'm still fully invested and don't have funds for a new position, but I
like Hilton Hotels (HLT) if I'm stopped out of something. HLT at 28 1/4 is in
a Short Term Up Trend Channel (STUTC) with the top at 31 1/8 ands the bottom
at 27 1/4. It broke out of an Intermediate Term Down Trend in early May. It
moved up from there until late May and then pulled back to a little below the
breakout level. The story here is that with the continued growth in the
economy, both the hotel and casino businesses are looking better and HLT is in
both businesses. Room rates, rooms filled, and casino take have all
increased. During the last quarter, revenues increased 36% and net income
increased 76%. They have good fundamentals with a PSR of 1.42, Debt/Equity of
0.84, and 35% insider ownership. The RSquared is below 0.15 which says we
aren't trending now, but should be soon. The S/C is positive and the MFI is
above 50, but both are falling. We may be a little early here and it wouldn't
hurt to wait for a bounce off the bottom of the channel, but I'm going to jump
anyway if I'm stopped out of something else. I'll set the stop at 27 3/4. I
won't worry about a target until/unless HLT sets a new all time high by
closing above 31 3/4 which will allow me to redraw an intermediate term up
trend channel.
I'll send a MetaStock HLT.GIF chart to everyone on the e-mail list. If
you aren't on it and want on, just yell. The only obligation is participation
in this e-mail forum.
Jim
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