Re: [CANSLIM] SYK

From: "Tom Worley" <stkguru@bellsouth.net>
Subject: Re: [CANSLIM] SYK
Date: Wed, 20 Mar 2002 04:57:00 -0500
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O'Neil pays attention to PE, but only projected PE, which is 37, =
considerably closer to the S&P ratio.

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley
- ----- Original Message -----=20
From: Chazmoore@aol.com=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, March 19, 2002 9:32 PM
Subject: Re: [CANSLIM] SYK


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.=20
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.)=20
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.=20
I like this company and it is worth following. Good luck. Charley=20

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<DIV><FONT face=3DArial>O'Neil pays attention to PE, but only projected =
PE, which=20
is 37, considerably closer to the S&amp;P ratio.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV>Tom Worley<BR><A=20
href=3D"mailto:stkguru@bellsouth.net">stkguru@bellsouth.net</A><BR>AIM:=20
TexWorley</DIV>
<DIV style=3D"FONT: 10pt arial">----- Original Message -----=20
<DIV style=3D"BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A=20
title=3DChazmoore@aol.com =
href=3D"mailto:Chazmoore@aol.com">Chazmoore@aol.com</A>=20
</DIV>
<DIV><B>To:</B> <A title=3Dcanslim@lists.xmission.com=20
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
 </DIV>
<DIV><B>Sent:</B> Tuesday, March 19, 2002 9:32 PM</DIV>
<DIV><B>Subject:</B> Re: [CANSLIM] SYK</DIV></DIV>
<DIV><BR></DIV><FONT face=3Darial,helvetica><FONT size=3D2>Steve: To bad =
the stock=20
didn't have a strong up volume today. It looks like considerable =
resistance at=20
the $63 level. I am also concerned that the price relative strength (59) =
is so=20
weak. Also, note the debt level at 103%. I didn't try to find out why =
but it may=20
be worth the research. <BR>I know that O,Neil doesn't put much weight on =
the P/E=20
but I suspect the P/E of 46 is well above the Industry Group average, =
and is=20
well above the S&amp;P 500 Index average of 30. Multiplying the P/E =
times the=20
projected earnings of 1.66 indicates a price of $76. by December. I =
doubt that=20
that is in the cards so I suspect the P/E will fall because of falling =
share=20
price. The reason I check out the P/E is because so many of the large =
buyers=20
move money simply because they think the stock has become over priced. I =
was=20
following several pharmaceuticals earlier this year and they all fell at =
about=20
the same time because the P/E's had risen and the sellers were freeing =
up cash=20
for the market upturn. (At least that is what I think was the =
reason-they do not=20
consult with me.) <BR>The stock may be forming a cup/handle, but the =
handle is=20
over 2 weeks long which makes me suspicious. The right side of the cup =
at $63 is=20
above the left side of $61.22 (July 30 2001) and that also makes me =
suspicious.=20
<BR>I like this company and it is worth following. Good luck. =
Charley</FONT>=20
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