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All,
I don't have any buying power this week, but I am close to stops on
GTIS and OSU. I like Circus Circus as a replacement if I am stopped out of
one of these positions.
CIR at 24 3/8 reached it's all time high of 44 5/8 on 6/4/96. It then
formed an Intermediate Term Down Trend Channel (ITDTC)and fell to a low of
21 1/4 on 7/8/97. After that it started to move back up and broke out of
the ITDTC on 9/16/97. It's now in a fairly well defined standard deviation
Short Term Up Trend Channel (STUTC) with the top at 28 and the bottom at 23
1/2. The fundamentals aren't too bad with a PSR of 1.84 and a ROE of
almost 10%. The Debt/Equity is a little high at 1.45, but that's not
excessive for the industry. Insiders own 41% which is great, but revenue
growth has been flat and earnings have been declining for several years.
It does look like this might be turning around, but it's too early to
really tell. I got a MetaStock HiLo Timer System Test buy signal on
10/1/97. The risk reward ratio looks good here and I'll take a position if
I'm stopped out of anything else.
I'll send a CIR.GIF chart to everyone on the email list. If you are
not on the list and want on, just yell. The only obligation is
participation in this email forum.
Jim
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