Re: [CANSLIM] SYK

From: Chazmoore@aol.com
Subject: Re: [CANSLIM] SYK
Date: Tue, 19 Mar 2002 21:32:32 EST

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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

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<HTML>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&amp;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</HTML>

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