Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: StockOperator who wrote (37187)	6/19/2002 11:53:28 PM
From: Berney	Read Replies (2) of 52237

SO, You know I've supported your position in the past. However, I really do have to differ that "technicals matter more than the fundamentals." Let's look at ORCL. Before the AMD and Apple "news" last night, folks were euphoric with the ORCL headlines. The problem was in the details. A quick accounting primer; when a company has earnings those earnings are closed into shareholders' equity. Well, ORCL announced $2.2B in earnings for the fiscal year just ended. I would think that would be just fantastic for a tech co in this environment. But, wait, (back to the primer) why was shareholders' equity $6.3B at the end of the last fiscal year, and $6.1B this year. Let's see, earnings that are closed into shareholders' equity was $2.2B to the positive and shareholders' equity is $.2 to the negative. Alas, we have to wait for the 10-K to hear the story, and that is the problem; just too many games being played in shareholders' equity. Most of the time FA doesn't seem to matter, but, when it matters, it really matters. Berney

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