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Bob,
I enjoy my charts, but they don't give me that kind of thrill <G>.
Jim
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> From: Robert Doeden <bdoeden@xxxxxxxxxxxx>
> To: metastock-list@xxxxxxxxxxxxx
> Subject: Re: Weekly Pick
> Date: Sunday, August 31, 1997 11:21 AM
>
> Two excellent posts with which I agree. These type of posts
> are the reason I stay here in spite of the volume of
> meaningless posts which my delete key rapidly takes care of
> when I see who the post is from. BTW, I sure get a lot of
> sex related mail since I've been posting here. Wonder if
> there is any relationship. Maybe they think we're a bunch
> of horny geezers supressing our desires by looking at
> charts. Frankly, a nice looking chart gives me a better
> thrill. My wife says I'm over the hill so this must prove
> it.
>
> Bob Doeden
> Chicago
>
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>
> stocks@xxxxxxxxxx wrote:
>
> > Since the major averages are above their 200 day moving
> > averages,
> > there is little doubt in my estimation that the bull is
> > alive and
> > well. The fact that the bull market is intact is
> > confirmed by the
> > high level of the McClellan summation index. Also, the
> > Nasdaq
> > market just recently set an all-time high. A change of
> > leadership
> > is taking place as the Dow (large-cap) stocks are moving
> > sideways to down
> > and the smaller cap stocks are taking the lead. This is
> > shown clearly
> > in today's issue of Investor's Business Daily chart of
> > comparative
> > relative strength. During this correction, comparative
> > relative
> > strength of market sectors should give us a clue as to
> > which
> > sectors to invest. The better performing sectors include
> > the
> > energy services sector. Also, natural gas has sprung to
> > life.
> > The fundamentals of most stocks in these 2 sectors are
> > very good
> > with peg ratios of less than one in many of the
> > securities.
> >
> > At 02:08 PM 8/30/97 -0400, Jim Greening wrote:
> > >All,
> > > I've been trying to decide if we were still in a
> > bull market, a bull
> > >market correction, or a bear market and I've decided I'm
> > still on the side
> > >of the bull. Let me walk you through my logic and see if
> > you agree. First
> > >of all, my portfolio hit an all time high Friday, so we
> > must be in a Bull
> > >market <G>. Next, the breadth of the market is still
> > positive, more
> > >gainers than losers. Then, the Russel 2000 set a new all
> > time high Friday.
> > > Finally, the number of bullish investment advisors fell
> > to 32% this week.
> > >That's near an all time low and a very positive
> > contrarian indicator. On
> > >the negative side the nifty fifty have taken some large
> > hits in the past
> > >few weeks. The large cap stocks as represented by the
> > S&P 500 are
> > >definitely in a short term down trend. To me that all
> > adds up as a
> > >continuing bull market which is correcting by sectors.
> > Right now the large
> > >caps are taking hits and the small caps are recovering.
> > Does anyone agree
> > >or disagree? What do you think?
> > > The reason that is important to me is that with that
> > conclusion, I
> > >won't be focusing on shorting the market. I think the
> > amount of new money
> > >still coming into the market makes shorting the market
> > risky right now.
> > >Instead I'll continue with my long positions, but will
> > concentrate on small
> > >caps (less than $1 B) with good fundamentals. I might
> > short an occasional
> > >large cap that I think is way over valued, but that won't
> > be my primary
> > >focus. Back to the picks. This week I'm going with
> > National Technical
> > >Systems (NTSC) which Harry Kobetitsch called to our
> > attention last week and
> > >GT Interactive Software (GTIS).
> > > GTIS at 10 has been bouncing along the bottom of a
> > Short Term Up Trend
> > >Channel for a couple of months. The top of the STUTC is
> > at 14 1/4 and the
> > >bottom at 9 1/2. It dropped from a high of 26 3/4 last
> > October to a low of
> > >5 7/8 this April. It moved up from there breaking out of
> > an Intermediate
> > >Term Down Trend Channel in May and giving a MetaStock
> > ROC, ADXR, S/C buy
> > >signal. The ROC just turned positive after being
> > negative for most of the
> > >last couple of month's sideways to slightly up movement.
> > The S/C is
> > >slightly negative, but flat. The ADXR just dropped below
> > 21 which
> > >indicates no trend now. It all looks like a setup for a
> > breakout,
> > >hopefully to the upside <G>. The fundamentals are good
> > with a PSR 0f 1.62,
> > >PE of 26, Debt/Equity of 0.14, market cap of $624 M, 69%
> > insider
> > >ownership, revenue growth of 56% and earnings growth of
> > 29% last year. I'm
> > >going to open a position Tuesday. I'll set my target at
> > 25, just under the
> > >96 high and my stop under the STUTC at 8 3/4.
> > > NTSC at 7 7/8 broke out to a new all time high
> > Thursday on large
> > >volume after a couple of months of sideways movement. It
> > is in an
> > >intermediate and long term up trend. The top of the
> > Intermediate Term Up
> > >Trend Channel (ITUTC) is currently at 9 1/8 and the
> > bottom at 6 5/8. The
> > >indicators all reflect a strong up trend in progress.
> > Since this is a
> > >fairly narrow ITUTC, I won't set a target, but will set
> > my stop under the
> > >channel. The fundamentals look good with a PSR of o.92,
> > PE of 19.22,
> > >Debt/Equity of 0.66, market cap of almost $46M, 32%
> > insider ownership, and
> > >revenue growth of 13.5% and earnings growth of 73.7% last
> > year. I'll open
> > >a position Tuesday with a stop at 5 3/4.
> > > I'll attach RUT, SPX, GTIS, and NTSC charts in GIF
> > format for everyone
> > >on the email list. If you are not on the list, and want
> > on, just yell.
> > >
> > >Jim
> > >
> > >
> > >
> > >
> > >
>
>
>
>
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