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All,
Since I was stopped out of BELM during the week, I looked for a low cost
replacement. After running the weekly tests and looking at my watch list, I
decided on Cruise America Inc (RVR). RVR is engaged in sales and rentals of
recreational vehicles.
RVR at 5 3/4 broke out of an Intermediate Term Down Trend Channel Monday
on large volume. I constructed a Raff Regression Short Term Up Trend Channel
(STUTC) with a top at 6 1/4 and a bottom at 5 1/4, but it is too narrow and
not well enough defined to trust yet. RVR fell from a high of 8 last July to
a low of 4 1/2 in May and has moved up since then. This looks like it could
be the start of an up trend with the ROC and S/C both positive. The ADXR is
rising, but it is still below 21. The fundamentals are encouraging with a PSR
of 0.35, a PE of 14, Debt to Equity a little high at 2.47, 58% insider
ownership, and over 400% earnings growth last year. I'll open a position
Monday if the market looks OK. I'll set an initial target of 7 3/4, just
under the old high at 8 and a stop at 4 1/4 just under the old low. I'll
change the stop to just under the STUTC after it becomes better defined.
I'll send a MetaStock chart in GIF format to everyone on the e-mail list.
If you're not on it and want on, just yell.
Jim
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