Go to Jeff Salisbury LWGate Home Page.From: Chazmoore@aol.com
Subject: Re: [CANSLIM] SYK
Date: Tue, 19 Mar 2002 21:32:32 EST
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- --part1_7e.24910d80.29c94ec0_boundary Content-Type: text/plain; charset="US-ASCII" Content-Transfer-Encoding: 7bit Steve: To bad the stock didn't have a strong up volume today. It looks like considerable resistance at the $63 level. I am also concerned that the price relative strength (59) is so weak. Also, note the debt level at 103%. I didn't try to find out why but it may be worth the research. I know that O,Neil doesn't put much weight on the P/E but I suspect the P/E of 46 is well above the Industry Group average, and is well above the S&P 500 Index average of 30. Multiplying the P/E times the projected earnings of 1.66 indicates a price of $76. by December. I doubt that that is in the cards so I suspect the P/E will fall because of falling share price. The reason I check out the P/E is because so many of the large buyers move money simply because they think the stock has become over priced. I was following several pharmaceuticals earlier this year and they all fell at about the same time because the P/E's had risen and the sellers were freeing up cash for the market upturn. (At least that is what I think was the reason-they do not consult with me.) The stock may be forming a cup/handle, but the handle is over 2 weeks long which makes me suspicious. The right side of the cup at $63 is above the left side of $61.22 (July 30 2001) and that also makes me suspicious. I like this company and it is worth following. Good luck. Charley - --part1_7e.24910d80.29c94ec0_boundary Content-Type: text/html; charset="US-ASCII" Content-Transfer-Encoding: 7bit <HTML><FONT FACE=arial,helvetica><FONT SIZE=2>Steve: To bad the stock didn't have a strong up volume today. It looks like considerable resistance at the $63 level. I am also concerned that the price relative strength (59) is so weak. Also, note the debt level at 103%. I didn't try to find out why but it may be worth the research. <BR>I know that O,Neil doesn't put much weight on the P/E but I suspect the P/E of 46 is well above the Industry Group average, and is well above the S&P 500 Index average of 30. Multiplying the P/E times the projected earnings of 1.66 indicates a price of $76. by December. I doubt that that is in the cards so I suspect the P/E will fall because of falling share price. The reason I check out the P/E is because so many of the large buyers move money simply because they think the stock has become over priced. I was following several pharmaceuticals earlier this year and they all fell at about the same time because the P/E's had risen and the sellers were freeing up cash for the market upturn. (At least that is what I think was the reason-they do not consult with me.) <BR>The stock may be forming a cup/handle, but the handle is over 2 weeks long which makes me suspicious. The right side of the cup at $63 is above the left side of $61.22 (July 30 2001) and that also makes me suspicious. <BR>I like this company and it is worth following. Good luck. Charley</FONT></HTML> - --part1_7e.24910d80.29c94ec0_boundary-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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