Re: [CANSLIM] GRMN

From: "Ann Hollingworth" <annholly@attbi.com>
Subject: Re: [CANSLIM] GRMN
Date: Wed, 22 Jan 2003 17:33:02 -0800
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Thank you, Tom, Rolf, Michael, and Ed for the responses on GRMN.
I, too, emailed the company last night and received a call and email from
them this morning. (I consider that very impressive in its own right!) Here
is the response:

I left you a voice message, but just in case I am also responding with an
e-mail.

Re: the fall in Garmin's stock price:  It appears that yesterday we had some
"profit taking" by some large shareholders (institutions - mutual funds,
money managers).   This is common when a stock makes a "run up" as GRMN
recently has.   It is a way to "lock in" profits for the institution and
reduce their holdings of the stock.   When the stock pulls back (which they
always do, to varying degrees, over time, even if the stock's general trend
is upward) then they buy in again, hoping to ride the price up again.

The bulk of the trading happened mid-morning, with the volume for the rest
of the day looking pretty "normal".

Also, some folks are asking "did something bad happen?  Bad news?"   No,
definitely not.   Just normal stock movements.

Thanks for your question.  If you have other questions, feel free to e-mail
or call me.  My contact info is below.

- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Wednesday, January 22, 2003 8:23 AM
Subject: [CANSLIM] GRMN


> We bought GRMN around $24.6 and added a third to our position yesterday.
> Wanted $27.70 but got filled at $28 in the violent recovery.  We check
> sources and called Garmin for an explanation.  Merrill Lynch sold a
> large position yesterday.  Tape watchers should have notice a block of
> some 50,000 plus shares go across the ticker.  Also a 13G was filed
> indicating that Mr. Kao, Co-Chairman and CEO lighted up on some 3MM
> shares.  This should have been in the stock already though.  This is one
> company (unfortunately) that I am falling in love with.  I would be a
> very reluctant seller.  Hope this sheds some light for those Garminites
> out there.
>
> Ed Gjertsen II
> ed@macktracks.com
>
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com] On Behalf Of
> michael_niemotka@baxter.com
> Sent: Wednesday, January 22, 2003 9:29 AM
> To: canslim@lists.xmission.com
> Subject: Re: [CANSLIM] GRMN, SBMC
>
>
> I owned GRMN going into yesterday, and was sitting on a 25% profit, but
> based on this M, I had a trailing 15% gain stop order in, which was
> automatically exercised.  I was happy to keep my profits, but somewhat
> mad
> that I got out of what is I believe a strong company.
>
> I will keep a watch on this one, and hopefully not be kicking myself
> later!
>
> Mike Niemotka , PE
> Sr. Principal Engineer
> Baxter Healthcare Corporation
> Route 120 & Wilson Road
> Round Lake, IL 60073
> Tel (847) 270-4075
> Fax (847) 270-4525
> michael_niemotka@baxter.com
>
>
>
>
>                     "Rolf Hertenstein"
>
>                     <rolfh@mindspring.com>        To:
> canslim@lists.xmission.com
>                     Sent by:                      cc:
>
>                     owner-canslim@lists.xm        Subject:     Re:
> [CANSLIM] GRMN, SBMC
>                     ission.com
>
>
>
>
>
>                     01/22/2003 09:07 AM
>
>                     Please respond to
>
>                     canslim
>
>
>
>
>
>
>
>
>
> Dunno about SBMC, but GRMN has had a good run-up of late.  Maybe profit
> taking in case the market continues down.  If you believe in such
> things,
> the PEG ratio (current P/E to growth) is fairly high, even taking the
> highest estimate for growth in 2003.
>
>  Rolf
>
> > I've been scanning my news sources, but can't seem to find out why
> these
> > stocks crashed yesterday. Anyone know?
> >
> > Thanks,
> >
> > Ann
> >
> >
> >
> >
> > -
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