----- Original Message -----
Sent: Monday, February 07, 2005 10:05
PM
Subject: Re: [amibroker] OT:Re:
Technical Vs technofundumental trading
Pal,
Your exact reply was stated early on the Holygrailsm board at
4:37 pm by Drew....he must have plagiarized you. :)
*********************************************
Interesting...
The real key (IMO) is the Cash Flow
from operations (not one time sale of an asset, or increase from pension
income). I look for beat-up companies that will survive. Cash flow is key.
Oftentimes companies go down ala Merck, to name a recent example, but have
the wherewithal to recover. This is event buying and it works nicely. In the
past I've picked up 10-15% buying on bad news.
One must be extremely careful with
the use of PS. Retailers, insurance and supermarket chains typically have
low PS values.
Drew
**************************************
Anthony
----- Original Message -----
Sent: Monday, February 07, 2005 6:32
PM
Subject: [amibroker] OT:Re: Technical
Vs technofundumental trading
--- In amibroker@xxxxxxxxxxxxxxx,
"duke.jones" <Duke.Jones@x...>
wrote:
> However, price action is always the ultimate ruler
in exits and
risk management.
>
I agree with the above
statement. The real key is the Cash Flow from
operations (not
one time sale of an asset, or increase from pension
income). I use
Cash Flow per Share. I look for beat-up, un-loved
companies
which nobody wants, but that will survive in the not so
distant
future. Often times companies go down like Merck, for
example, but
have the financial strength to recover. This is buying
the rumor and
selling the fact.
rgds,
Pal
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