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Guy,
You'd better believe it <G>!
Jim
-----Original Message-----
From: Guy Tann <grtann@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Monday, June 22, 1998 12:12 AM
Subject: RE: 2nd Weekly Pick
>Jim
>
>I hope that's a mental stop :).
>
>We're still in a short position, for the time being. Of course that
could
>change tomorrow.
>
>Regards
>
>
>-----Original Message-----
>From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]
>On Behalf Of Jim Greening
>Sent: Sunday, June 21, 1998 1:21 PM
>To: Metastock
>Subject: 2nd Weekly Pick
>
>All,
> I spent a lot of time looking hard at my indices yesterday and
>today and decided that the NASDAQ, NYA, OEX, and SPX indicators were
>all rising off of negative peaks which is an indication that the last
>low was the bottom for this correction. Of course, this might not be
>right, but if it is, I want to lower my cash position. To do this I
>looked at the other stocks on my watch list to find another to add to
>my portfolio. I had a hard time choosing among Concord EFS, Hartke
>Hanks, HBO & Co, and WorldCom. I wanted a NASDAQ type stock and
ruled
>out WorldCom because it was in the same industry group as Ericsson.
>Of the others, I liked Concord EFS and HBO & Co (HBOC) charts the
>best. I finally decided on HBOC because I liked the diversification
>of adding a stock in the medical services software business.
> HBOC at 32 3/4 is a momentum play that's in short, intermediate,
>and long term up trends. It has been in an up trend for over seven
>years with the only pauses being sideways moves within the up trend.
>It broke out of a shallow CANSLIM cup formation Wednesday on good
>volume and shot up to an all time high of 34.93 at Friday's open
>before pulling back to close only a point above the breakout level.
>After the breakout, I constructed a new steeper Short Term Up Trend
>Channel (STUTC) with the top at 37 and the bottom at 30 1/4.
>>From a fundamental view point, It does have the high P/E of 79 and
the
>high Price/Sales ratio of 10.47 that is characteristic of momentum
>plays. However, it also has no debt, 20% insider ownership, 26%
>annual revenue growth, and 75% annual earnings growth. I'll take a
>long position at Monday's open. I won't set a target until the STUTC
>firms up more, but will set my stop at 29 3/4.
>
>Jim
>
>
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