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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: FaultLine who wrote (41539)5/15/2001 4:19:16 PM
From: StockHawk  Read Replies (1) of 54805
 
With several of our favorites in or within shouting distance of single digit prices, this ominous report in Sunday's NY Times by Thomas W. Watts, a specialist at Merrill Lynch, states that only about 3% of companies sinking into the single digits ever come back.

I read that article, which is just over one month old - not enough time really to determine if the theory is valid, but based on the small sample of stocks I watch it seems that a few of those that hit the single digits have rebounded quite strongly.

For example, RFMD which had been mentioned on this thread last year dipped to $8.75 but was above $30 today. ELON has more than doubled off its low of $8 and GNSS which has been discussed here a few times has more than tripled off its low of $7.

Most of the stocks we follow here had lows in the teens or twenties, surely disappointing those waiting to scoop up single digit bargains.

Not everything that dipped into the single digits has risen (note here I'm only referring to G&K caliber stocks, not dot coms) SSTI which fell below $6 is still in the single digits, although it has been flirting with $10 recently. And RMBS may well hit the single digits before the week is out. Of course, the way these others have rebounded, that might be a good thing <g>

StockHawk
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