RE: [CANSLIM] WGO

From: "Robin Gridley" <gridley02@earthlink.net>
Subject: RE: [CANSLIM] WGO
Date: Mon, 18 Nov 2002 15:37:35 -0800

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Karen -

I agree with Tom in that I'm not too worried about a big
bump in gas prices. Two main reasons...
1) Oil expenditures are only 3.5% of GDP as compared to 8%
during the '73 shock.
2) Even though oil imports are up a third from '73, we're now
spreading the wealth much wider (Mexico, Russia, Venezuala, etc.)
We're only getting 10% of total domestic consumption from the
area slated to be affected by a Gulf war.

Even if there's a brief spike (which I doubt), even if exacerbated
by successful terrorist action against pipelines or other logistics,
I can't see it lasting long enough to hold any real implications
for prices. Especially with the proclivity of the feds to bleed
the reserve at the slightest sign of squawking from the gas
guzzlers...

[start soapbox]

Now... that having been said, the economist in me would at times
like to see gas prices better reflect the real costs of consumption,
as I'm a firm believer in the importance of "price" to reguluate the
demand side of "price equilibrium."

Living in a state that's running a $10B deficit and can't seem
to find enough money to fix potholes even with one of the highest
state tax rates and and a top 10 global economy, the complete lack
of willingness to carry total costs of consumption through to
the consumer (either by letting prices at least rise with inflation
or use of a consumption tax with funds strictly earmarked to offset
related costs) gives me a headache. But I guess there are just
too many d@mn trial attorneys driving around in Escalades for
that to ever happen.....  ;-)

[end soapbox!!!!]

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Karen White
Sent: Monday, November 18, 2002 4:28 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] WGO

Hi Robin- I too have been looking at some RV stocks and my concern has been
- - War = higher gas prices= Stock drops with little warning.....your take on
that? Karen

At 09:12 PM 11/17/2002 -0800, you wrote:
>I've been looking at WGO...
>
>Even though it shows a Cw/H, am I correct in being
>worried about the $48 support level that's been set
>almost three times while forming the cup ($48.05,
>$48.60 and the pivot @ $49) I am guessing I should
>look for VERY strong volume on the BO before
>committing in order to break through and hold above
>these support levels???
>
>Thx!
>
>Robin
>
>
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