Re: [CANSLIM] PRS

From: "Winston Little" <wlittle1@peoplepc.com>
Subject: Re: [CANSLIM] PRS
Date: Thu, 29 Aug 2002 23:12:56 -0400
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Mike:
PURE RESOURCES (PRS)

- - Independent oil company Pure Resources Inc. (PRS) said late on Monday that
a special committee of its independent directors will evaluate a previously
announced takeover bid from Unocal Corp. (UCL). Shares of Pure Resources
closed at $23.25 Monday.


- ----- Original Message -----
From: "Mike Gibbons" <mikegibbons@proactech.com>
To: <canslim@lists.xmission.com>
Sent: Thursday, August 29, 2002 8:56 PM
Subject: [CANSLIM] PRS


> This stock showed up on my lists today having formed a 5 day handle after
a
> dramatic 30% price gain on 8/21.
>
> My Canslim Evaluator turned up some surprizing fundamentals such as 151%
> compound EPS growth over 3 years but an EPS of -65% for the most recent
> quarter. Institutional ownership is supposedly only 25%.
>
> Does anyone have an explanation for the strange EPS nos. and recent price
> hike?
>
> Aloha,
>
> Mike Gibbons
> Proactive Technologies, LLC
> http://www.proactech.com
>
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman
> Sent: Thursday, August 29, 2002 12:34 PM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] Ernie's Forecasts
>
>
> Mike,
>
> Fair question.  And I apologize (to all) for going so far "out in the
> woods."  It's a soap box I carry with me every where I go<G>
>
> Norm
> ----- Original Message -----
> From: "Mike Gibbons" <mikegibbons@proactech.com>
> To: <canslim@lists.xmission.com>
> Sent: Thursday, August 29, 2002 5:28 PM
> Subject: RE: [CANSLIM] Ernie's Forecasts
>
>
> > My point was simply to say that there is a plausible explanation for the
> > occurance of fibonnaci numbers all around us in nature, and to ask the
> > question: Is there a plausible explanation for the occurance of
fibonacci
> > series in stock market waves?
> >
> > Aloha,
> >
> > Mike Gibbons
> > Proactive Technologies, LLC
> > http://www.proactech.com
> >
> >
> > -----Original Message-----
> > From: owner-canslim@lists.xmission.com
> > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman
> > Sent: Thursday, August 29, 2002 12:17 PM
> > To: canslim@lists.xmission.com
> > Subject: Re: [CANSLIM] Ernie's Forecasts
> >
> >
> > I agree David, Mike, that mathematicians and statisticians can find all
> > sorts of "correlations" in nature.  And, I am also fascinated by these
> > little "Easter eggs", to use a programmers phrase for "hidden goodies".
> But
> > correlation, by definition, does not infer a cause & effect
relationship.
> > And, I know first hand that if these little circumstances are not
> > scrutinized VERY carefully and OBJECTIVELY, then even very intelligent
> folks
> > can come the wrong conclusion.  Plus, there are other variables that can
> > affect species in nature besides inheritance.  With that, I think I may
> have
> > come to end of my own intelligence on the matter (did I hear
applause<G>),
> > and we are waaaayyyyy OT now.  Thanks for y'alls (yep, I'm from TX)
input.
> >
> > Norm
> > ----- Original Message -----
> > From: "David Taggart" <dctag@mavericktrading.com>
> > To: <canslim@lists.xmission.com>
> > Sent: Thursday, August 29, 2002 4:58 PM
> > Subject: RE: [CANSLIM] Ernie's Forecasts
> >
> >
> > > Norm,
> > >
> > > Fibonacci ratios are found throughout nature.
> > > http://www.brooksdesign-ps.com/Code/Html/godna2.htm  also check out
The
> > > Elliot Wave Theory by Frost it talks a lot about Fib ratios.  That
being
> > > said I dont use them much.
> > >
> > > David
> > >
> > >
> > >
> > >
> > > Original Message-----
> > > From: owner-canslim@lists.xmission.com
> > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Norman
> > > Sent: Thursday, August 29, 2002 3:14 PM
> > > To: canslim@lists.xmission.com
> > > Subject: Re: [CANSLIM] Ernie's Forecasts
> > >
> > >
> > > Hi Maui Mike,
> > >
> > > OK, on topic and out of the shadows<G>  The investors.com chart shows
a
> > low
> > > of 911.06.  I know that sometimes there are trades that confound the
> > > charting sites, so where can I get the same info you have?
> > >
> > > As for encoding Fib lines in DNA; that's a little far fetched even for
> > this
> > > Trekker to consider<G>  My ecology understanding dictates that genes
> > survive
> > > by increasing the reproductive success of the species.  Now I can
think
> > > "outside of the box" as good as the next scientist, but this one
doesn't
> > > seem to be in the same room with the box<g>  Looks like an observation
> has
> > > been made, now you have postulated a theory, who's gonna test it<G>
> > >
> > > Elliot wave theory is 'nother story and one that I don't have enuf
> > knowledge
> > > to address at this time.
> > >
> > > There, now *that's* OT!
> > >
> > > Norm
> > > ----- Original Message -----
> > > From: "Mike Gibbons" <mikegibbons@proactech.com>
> > > To: <canslim@lists.xmission.com>
> > > Sent: Thursday, August 29, 2002 4:01 PM
> > > Subject: RE: [CANSLIM] Ernie's Forecasts
> > >
> > >
> > > > Norm and kelly,
> > > >
> > > > I don't want to be picky, but the S&P 500 sank to below 905 at about
> > > 10:00.
> > > > It then rose and fell again with a turn later in the day at 911. So
> the
> > > turn
> > > > was actually lower than Ernie predicted.
> > > >
> > > > That said, I do agree that Ernie's forecasts since I've been
following
> > > them
> > > > have certainly been on the money and within what I would consider
> > > > "experimental error".
> > > >
> > > > However, I have the same kind of feeling about Elliot Wave Theory as
> > > > Einstein had about the uncertainty principal - without a rational
> > > > explanation for why it works (if it does reliably), its hard to
> believe
> > in
> > > > it.
> > > >
> > > > I can understand fibonacci numbers recurring frequently in nature
> > because
> > > > they could be somehow encoded in DNA, but I have a hard time seeing
> how
> > > they
> > > > could apply to the stock market. But then again, I haven't put any
> time
> > > into
> > > > trying to understand the causal connection and my comments are based
> > > largely
> > > > on ignorance. If any member of the group can explain a possible
causal
> > > > relationship, I would find that helpful.
> > > >
> > > > Also, why is this off topic? Understanding M is fundamental to
CANSLIM
> > > > because 75% of stocks go with the flow.
> > > >
> > > > Aloha,
> > > >
> > > > Mike Gibbons
> > > > Proactive Technologies, LLC
> > > > http://www.proactech.com
> > > >
> > > >
> > > > -----Original Message-----
> > > > From: owner-canslim@lists.xmission.com
> > > > [mailto:owner-canslim@lists.xmission.com]On Behalf Of Kelly Short
> > > > Sent: Thursday, August 29, 2002 10:36 AM
> > > > To: canslim@lists.xmission.com
> > > > Subject: RE: [CANSLIM] Ernie's Forecasts
> > > >
> > > >
> > > > Norm,
> > > >
> > > > I was commenting at lunch at perfectly he called it today and
> yesterday.
> > > > Almost to the hour. I wonder if he tracks the success of his
> > predictions.
> > > >
> > > > Kelly
> > > >
> > > > -----Original Message-----
> > > > From: Norman [mailto:theboyd@tisd.net]
> > > > Sent: Thursday, August 29, 2002 3:27 PM
> > > > To: canslim@lists.xmission.com
> > > > Subject: [CANSLIM] Ernie's Forecasts
> > > >
> > > >
> > > > All,
> > > >
> > > > I know it's a little (OK a lot<G>) off topic, but is interesting.
For
> > > those
> > > > of you who subscribed to Ernie's S&P 500 forecasts, did you notice
he
> > has
> > > > apparently called this one perfectly.  He predicted a turn window or
> > > > 910-913.  Today it turned at 911.06.  For now, his crystal ball is
> > > working.
> > > > For those of you who are not subscribed I copied last nights
forecast
> > > below.
> > > >
> > > > Norm
> > > >
> > > >
> > > > Once again today could be the bottom, as we came within a whisker of
> the
> > > > 910-913 target range, and both of my short term cycle indicators are
> > > > suggesting that a turn is imminent. While the next target level of
> > 876-884
> > > > is still a possibility, at this point I would have to say that it is
> not
> > > > very likely that we will go that low.
> > > >
> > > >
> > > >
> > > > The 910-913 range has emerged as the high probability target for the
> > > > termination of this short term down move. The most likely scenario
for
> > > > tomorrow would be a move slightly lower into the target range or
just
> > > below
> > > > before the market terminates the move, and begins to go higher. The
> > second
> > > > most likely scenario is that the market will open higher and
continue
> to
> > > > move higher from there. And the third most likely scenario would be
a
> > > > continuation of the down move possibly as low as 900, with an
> intra-day
> > > > reversal featuring a closing price above at least 911. Each of these
> > > > scenarios involves the 910-913 target range.
> > > >
> > > >
> > > >
> > > > Despite the high probability that we are about to make a turn and
not
> > > likely
> > > > to go much lower, until we see the turn confirmation signal this
> market
> > > > could still reach the lower target range
> > > >
> > > >
> > > >
> > > > E
> > > >
> > > >
> > > >
> > > > -
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> >
>
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viruses.
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