Lawrence Savings Bank LSBX Message Board

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Non-Tech : Lawrence Savings Bank LSBX

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To: Ed Newman who wrote (12)	3/9/1997 9:17:00 PM
From: WOLF EMERTUS BLITZOID	of 98

Ed, Thanks for starting the LSBX thread... I remember communicating with you on the SEMX thread (what a shot to the head that was). I guess we both like IBD 99 EPS ranked stocks or something. After January 23 when the NASDAQ market looked like it topped, I sold all my holdings and took a vacation from stocks to get a feel for what was going to happen next. Well, it looks like everyone's a little nervous these days (a good contrarian sign for those on the long side)and Greenspan is trying to control investor excitement despite the fact that mutual funds are receiving record funds from retirees and youthful 401K'ers and there is no solid evidence that inflation may threaten us. I still think the market will go up, but it's a good idea to reduce risk with buying lower PE ratio stocks which are in the strongest industrial groups. LSBX fits the profile, and as long as their earnings grow, the fundamentals of the bank will be discovered sooner or later. A takeover or initiation of a dividend are also possible plays on this stock. I noticed that earnings estimates for the bank in 1997 are 1.28 or 1.25 a share (which is not much more than 1996) but the earning surprises for LSBX have been on the upside lately so those numbers may be low. Technically, the stock looks solid, with the last two bases being reasonably tight and about 8 to 9 weeks in length. If you have Daily Graphs (which has its prices on a arithmetic and not a logrithmic scale) you can set up upward sloping support and resistance channel lines for the last six months (I don't include intraday prices, just closing prices) which are roughly parallel. The current base is around eight weeks in length and starting to butt up against the support channel line. If you believe technical "tea leaves", then we may be getting close to an upward move. Wolf.

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