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All,
An interesting week in the market. My portfolio was up, then down,
and then up again, finally ended the week about where it started. The
larger cap stocks look like they are trying to get back on an up trend, but
haven't quite made it yet. The smaller caps are continuing their up move
so that's where I looked again this week. My pick this week is O'Sullivan
Industries Holdings Inc (OSU). OSU designs, manufactures, and sells ready
to assembly furniture. The story here is an earnings turn around. It
looks like they have gotten their costs under control.
OSU at 12 5/8 is in an Intermediate Term Up Trend Channel (ITUTC) with
the top at 18 1/4 and the bottom at 12 1/4. It bounced off the bottom of
the channel a little over a week ago and has moving up parallel to the
bottom of the channel since then. I got a MetaStock R2,S/C,CMF buy signal
the day it bounced off the bottom of the channel. RSquared is just under
0.5 and rising, Tema(S/C) is at 19.1 and rising, and Tema(CMF) is barely
negative and flat. I'm hoping that this indicates a new up movement
beginning <G>. The fundamentals are excellent with PSR at 0.65, P/E at
12.81, Debt/Equity at 0.2, 26% insider ownership, and 97 earnings up over
300%. I don't have much buying power, but will take a small position
Monday. I'll set my target just under the top of the ITUTC at 18 and my
stop just under the bottom of the ITUTC at 11 3/4.
I'm sending OSU.gif charts to everyone on the email list. If you
aren't on and want on, just yell.
Jim
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